12th November, 2024

The Listing Department The Listing Department

BSE Limited The National Stock Exchange of India Limited
Phiroze Jeejeebhoy Towers, Exchange Plaza,
Dalal Street, Bandra Kurla Complex,
Mumbai – 400001 Bandra (E), Mumbai - 400051
Symbol: 532934 Symbol: PPAP

Subject: Analysts and Investors Presentation pursuant to Regulation 30 of the Securities and Exchange
Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Dear Sir,

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure
Requirements) Regulations, 2015, please find enclosed the Analysts and Investors presentation on the
unaudited financial results (standalone and consolidated) of the Company for the quarter and half year ended
30th September, 2024.

This is for your information and records.

Thanking you,

Yours Faithfully,
for PPAP Automotive Limited
Digitally signed by PANKHURI AGARWAL
DN: c=IN, o=PERSONAL,

PANKHURI pseudonym=90c26cdb32994063afb8c07c
5da85b91,
2.5.4.20=e90719d9b714e1f5fff521063df7b
4f9cf36d730e9f2e1676a822382609a98f3,

AGARWAL
postalCode=201017, st=Uttar Pradesh,
serialNumber=3c5cb42087c3255c3ff07a4e
4fc771f8f08c0796ee464df8b34d770d694a
a473, cn=PANKHURI AGARWAL
Date: 2024.11.12 17:44:50 +05'30'

Pankhuri Agarwal
Company Secretary and Compliance Officer
 PPAP Automotive Limited

PPAP Automotive Limited

Let’s Grow Together

INVESTOR PRESENTATION – November 2024

Safe Harbour
This presentation and the accompanying slides (the “Presentation”), which have been prepared by PPAP Automotive Limited (the
“Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to
purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding
commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document
containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the
Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy,
completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not
contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this
Presentation is expressly excluded.

This presentation contains certain forward-looking statements concerning the Company’s future business prospects and business
profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such
forwardlooking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties
regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India
and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our
international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy.
The Company does not undertake to make any announcement in case any of these forward looking statements become materially
incorrect in future or update any forward-looking statements made from time to time by or on behalf of the Company.

2
PPAP at a Glance

45+ 5 50+
Years Of Legacy Varied Technologies Diversified Customers

No. 1
Market
Leader in
5 2,600+ 5+ Plastic sealing
systems
Business Segments No. of SKUs Electric Vehicles

10 225k 250+
Pan-India Operating SKUs Under
Parts Shipped Per Day
Facilities Development

3
Q2 & H1FY25 Highlights

4
Management Commentary
Commenting on the results and performance for Q2 & H1FY25, Mr. Ajay Kumar Jain, Chairman &
MD of PPAP Automotive Ltd said:
“We have successfully started achieving the promising targets that we have set for the financial
year, a testament to the hard work and dedication of our entire team.

On a standalone basis, EBITDA registered a growth of 45.5% on a YoY basis to Rs 29.9 crore. EBITDA
margins saw a sharp uptick, rising from 8.2% in H1FY24 to 11.5% in H1FY25, reflecting a robust
growth of 330 basis points. This margin expansion can be attributed to the optimized utilization of
existing assets, coupled with the softening of raw material prices. Furthermore, the company's
profitability has grown by 6.5x to Rs 7.1 crore in H1FY25, compared to Rs 1.1 crore in the same
period last year. On a consolidated basis, we are pleased to share that the company has also turned
profitable, reporting a PAT of Rs 3.3 crore for H1FY25. "

Our commitment to developing value-added products remains a key priority, alongside our efforts
to deepen relationships with existing clients while expanding our customer base. We are confident
that the steps we have taken in the right direction will further solidify our position in the market.

As we set sight on bigger goals, our endeavour is to focus on timely execution of order book and
deliver profitable growth on a sustainable basis. We expect to conclude FY25 with revenues being
in the range of ~550 crore to Rs 575 crore and aim to maintain EBITDA margins between 11% to
12%.
Mr. Ajay Kumar Jain
Chairman & Managing The Board of Directors have declared an interim dividend of Rs 1 per share, as a gesture of
Director appreciation towards our valued shareholders for their continued trust and support”

5
 Industry Highlights
1
• Total Domestic Passenger vehicle sales marginally increased by 0.5% to 20.8 lakh units in
H1FY25 compared to H1FY24, there was a notable increase of 13.2% in utility vehicle sales
Passenger Vehicles • Out of the Passenger vehicles, Passenger cars sales declined by 18.5% in H1FY25 vs H1FY24
to 6.6 lakh units

2
• The Domestic CV sales reduced by 4.2% in H1FY25 to 4.5 lakh units as compared to the
Commercial Vehicles H1FY24, indicating muted demand for the segment

3
• Two-wheeler domestic sales witnessed a substantial growth of 16.3% YoY in H1FY25
Two-Wheeler • Domestic Scooter sales increased by 22.1% YoY and motorcycle sales increased by 13.4% YoY
in H1FY25

4
• In the domestic market, three-wheeler saw a sales improvement of 9.8% in H1FY25
Three-Wheeler compared to H1FY24, primarily driven by growth in Passenger Carrier vehicles

Source: SIAM 6
Key Operational Highlights – H1FY25
Won Overall Excellence award from MSIL

Initiated export of Aftersales products

150+ new products launched in Aftermarket

72% Capacity Utilization

Recommended dividend of Rs 1/Share

7
Standalone Performance Highlights Q2 and H1 FY25
(INR Cr)
Revenue Operating EBIDTA PAT
9.4% 10.1% 12.7% 1.9% 1.2% 3.9%

5.6
17.9
140.5 141.3 13.2
118.7 12.0
2.7
1.4

Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1 FY25 Q2FY25 Q2 FY24 Q1 FY25 Q2FY25

Revenue Operating EBIDTA PAT

8.2% 11.5% 0.4% 2.7%

251.8 260.0 29.9 7.0

20.6

1.1

H1FY24 H1FY25 H1FY24 H1 FY25 H1 FY24 H1 FY25

8
Consolidated Performance Highlights Q2 and H1 FY25
(INR Cr)
Revenue Operating EBIDTA PAT

8.2% 9.6% 11.3% 0.4% 0.1% 2.0%

2.9
16.4
148.4 144.9
122.7 12.2 11.8

0.5
0.1
Q2FY24 Q1FY25 Q2FY25 Q2FY24 Q1 FY25 Q2FY25 Q2 FY24 Q1 FY25 Q2FY25

Revenue Operating EBIDTA PAT

7% 10.5% -0.8% 1.1%
264.9 267.5 28.2 3.0

18.5

H1FY24 H1FY25 H1FY24 H1 FY25 -2.2

H1 FY24 H1 FY25

9
Consistent Growth in EBITDA & PAT Margins At Record High - Standalone
(INR Cr)

CQGR ~31%
22

12.7% 14. 0%

10.1%
12. 0%

9.4% 9.4%
17

9.1% 18 10. 0%

6.6%
12

13 12
8.0 %

12
7
11 6.0 %

4.0 %

2
7
2.0 %

-3
Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 0.0 %

EBITDA EBITDA Margin(%)

10

3.9% 5.0 %

4
1.9% 7
3.0 %

0.2% 1.2%
3
2

0
1.0 %

-2
1
-6
-2

-1.0%

-4
-1.5%
-6

Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25 -3.0%

-8

-10

-4.5% -5.0%

PAT PAT Margin(%) 10

Consistent Growth in EBITDA & PAT Margins At Record High - Consolidated
(INR Cr)

CQGR ~33%
19 12. 0%

11.3%
17

9.6%
8.5%
10. 0%

15

8.2% 8.0% 16
13

8.0 %

12
11

9
5.4% 12 12 6.0 %

7
10
4.0 %

6 2.0 %

Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25

-1 0.0 %

EBITDA EBITDA Margin(%)

1 0 3
0

-3 -3 -8
2.0%
-2

0.4% 0.1%
-4

Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Q2 FY25

-6

-8

-2.4% -2.2%
-6.0%
-10

-12

PAT PAT Margin(%)

11
Segmental Revenue Breakup
H1FY24 H1FY25 Revenue Mix by Client for H1FY25

11.0%
6.0% 8%
6.0%
1.0%
38.0%

12.0%

2.0%
4.0%
94.0% 92%
9.0%
3.0% 14.0%

Maruti MG Motors Toyota

Parts Tools & Others SMG Renault + Nissan others
Hyundai Honda
Tata Volkswagen+Skoda

12
Standalone Profit and Loss Statement
Particulars (INR Cr) Q2FY25 Q2FY24 Y-o-Y (%) Q1FY25 Q-o-Q (%) H1FY25 H1FY24 Y-o-Y (%)

Revenue from operations 141.3 140.5 0.6% 118.7 19.1% 260.0 251.8 3.2% Comments:
 Revenue was maintained on a
COGS 79.7 83.9 67.1 146.8 150.9
steady state basis. However,
Gross Profit 61.6 56.6 8.8% 51.6 19.4% 113.2 101.0 12.1% Order pipeline continues to
remain robust
Gross Profit Margin 43.6% 40.3% 43.4% 43.5% 40.1%
 Gross Profit Margin has
Employee Expenses 24.6 24.8 22.8 47.4 45.2
Increased from 40.1% in Q2FY24
Other Expenses 19.2 18.6 16.8 35.9 35.2 to 43.5% in Q2FY25, likely due to
better cost control in COGS.
EBITDA 17.9 13.2 36% 12.0 49.6% 29.9 20.6 45.5%
 EBITDA Margin has Improved to
EBITDA Margin 12.7% 9.4% 10.1% 11.5% 8.2% 11.5% in H1FY25 from 8.2% in
Other Income 1.1 1.0 1.3 2.4 2.3 H1FY24, Emphasis on cost
rationalization and enhanced
Depreciation 8.1 8.1 8.1 16.1 15.8 productivity has led to an
Finance Cost 3.5 2.7 3.3 6.8 5.9 increase in our EBITDA margins.
 PAT Margins has improved
Profit before Tax 7.5 3.3 1.9 295.2% 9.4 1.1
~230bps to 2.7% in H1FY25,
Tax expenses 1.9 0.6 0.5 2.3 0.0 attributed to a operating
Profit / (Loss) for the year 5.6 2.7 107.4% 1.4 300% 7.1 1.1 545.5% performance resulting in better
profitability coupled with
PAT Margins 3.9% 1.9% 1.2% 2.7% 0.4% favorable Financial Leverage
EPS 3.95 1.92 1.01 4.96 0.76

13
Standalone Balance Sheet
Liabilities (INR cr) Sep-24 Mar-24 Assets (INR cr) Sep-24 Mar-24
Non-Current Assets
Equity
Property, Plant and Equipment 275.0 284.8
Equity Share capital 14.1 14.0 Capital work-in-progress 23.5 14.7
Other Equity 304.5 399.0 Other Intangible Asset 8.8 8.7
Investment Property 0.7 0.7
Total Equity 318.6 313.0
Financial liabilities Intangible assets Under Development 2.1 2.0

(i) Borrowings 50.5 63.9 Right of Use Asset 3.3 3.4

Financial Assets
(ii) Lease liabilities 2.0 2.0
(i) Investments 65.0 65.0
(iii) Other Financial liabilities 0.1 0.1 (ii) Loans 0.0 0.0
Provisions 6.4 5.3 (iii) Other financial assets 2.8 3.0
Tax Assets (Net) 0.6 1.7
Deferred tax liabilities (Net) 16.4 15.9
Other non-current assets 7.5 12.6
Total Non-Current Liabilities 75.4 87.3 Total Non-Current Assets 389.4 396.6
Financial liabilities Current Assets
Inventories 64.2 58.5
(i) Borrowings 85.7 74.7
Financial Assets
(ii) Trade Payables 64.6 56.5 Investments 4.3 6.2
(iii) Other financial liabilities 11.6 6.99 (i) Trade receivables 79.1 64.7
(ii) Cash and cash equivalents 0.7 1.0
(iv) Lease liabilities 1.0 1.0
(iii) Other bank balances 0.1 0.1
Provisions 1.2 1.0 (iv) Loans 31.6 24.0
Other current liabilities 33.0 27.5 (v) Other financial assets 9.1 6.1
Other current assets 12.6 10.8
Total Current Liabilities 197.2 167.7
Total Current Assets 201.8 171.4
Total Equity and Liabilities 591.2 568.0 Total Assets 591.2 568.0

14
Standalone Cashflow Statement
Particulars (INR cr) Sep-24 Sep-23
Net Profit Before Tax 9.3 1.1
Adjustments for: Non-Cash Items / Other Investment or Financial Items 21.3 20.5
Operating profit before working capital changes 30.6 21.6
Changes in working capital -0.6 -4.8
Cash generated from Operations 29.9 16.8
Direct taxes paid (net of refund) -0.5 -0.9
Net Cash from Operating Activities 29.4 15.9
Net Cash from Investing Activities -10.9 -17.4
Net Cash from Financing Activities -18.8 2.5
Net Increase in Cash and Cash equivalents -0.3 0.9
Add: Cash & Cash equivalents at the beginning of the period 1.0 0.4
Cash & Cash equivalents at the end of the period 0.7 1.3

15
Consolidated Profit and Loss Statement
Particulars (INR Cr) Q2FY25 Q2FY24 Y-o-Y (%) Q1FY25 Q-o-Q (%) H1FY25 H1FY24 Y-o-Y (%)

Revenue from operations 144.9 148.4 -2.4% 122.7 18.1% 267.5 264.9 1.0%

COGS 81.8 90.3 69.4 151.2 161.4

Gross Profit 63.1 58.1 8.6% 53.3 18.2% 116.3 103.4 12.5%

Gross Profit Margin 43.5% 39.1% 43.5% 43.5% 39.0%

Employee Expenses 25.9 26.0 23.9 49.8 47.5

Other Expenses 20.7 19.8 17.6 38.4 37.5

EBITDA 16.4 12.2 34.4% 11.8 38.7% 28.2 18.5 52.8%

EBITDA Margin 11.3% 8.2% 9.6% 10.5% 7.0%

Other Income 0.3 0.5 0.6 0.9 1.3

Depreciation 8.7 8.6 8.6 17.3 16.8

Finance Cost 4.0 3.4 3.8 7.8 7.2

Share in Profit of Joint Venture -0.1 -0.2 0.1 0.0 0.7

Profit before Tax 3.9 0.5 - 0.1 - 4.0 -3.5 -

Tax expenses 1.0 -0.1 0.0 1.0 -1.3

Profit / (Loss) for the year 2.9 0.5 5x 0.1 29x 3.0 -2.2 -

PAT Margins 2.0% 0.4% 0.1% 1.1% -0.8%

EPS 2.04 0.39 0.07 2.11 -1.58

16
Consolidated Balance Sheet
Liabilities (INR cr) Sep-24 Mar-24 Assets (INR cr) Sep-24 Mar-24
Equity Non-Current Assets
Property, Plant and Equipment 289.7 300.3
Equity Share capital 14.1 14.0
Capital work-in-progress 23.6 14.8
Other Equity 270.4 268.9 Other Intangible Asset 9.4 9.3
Non-Controlling Interest 0.0 0.0
Intangible assets Under Development 2.2 2.1
Total Equity 284.5 282.9
Right of Use Asset 5.4 3.4
Financial liabilities Financial Assets
(i) Borrowings 57.5 73.6 (i) Investments 36.7 36.7
(ii) Lease liabilities 4.0 2.0 (ii) Loans 0.0 0.0
(iii) Other financial assets 3.2 3.0
Provisions 6.7 5.6 Tax Assets (net) 0.6 1.7
Deferred tax liabilities (Net) 9.2 10.0 Other non-current assets 7.6 12.7
Total Non-Current Liabilities 77.4 91.3 Total Non-Current Assets 378.4 386.0
Current Assets
Financial liabilities
Inventories 76.1 69.3
(i) Borrowings 96.98 85.7 Financial Assets
(ii) Trade Payables 65.5 57.5 Investments 4.5 6.3
(i) Trade receivables 80.8 72.7
(iii) Other financial liabilities 12.74 7.8
(ii) Cash and cash equivalents 1.3 1.9
(iv) Lease liabilities 1.1 1.1 (iii) Other bank balances 0.1 0.1
Provisions 1.2 1.0 (iv) Loans 0.9 0.6
Other current liabilities 33.3 27.8 (v) Other financial assets 11.4 3.09
Other current assets 19.2 17.0
Total Current Liabilities 210.9 181.0
Total Current Assets 171.2 171.2
Total Equity and Liabilities 572.8 555.2 Total Assets 572.8 555.2

17
Consolidated Cashflow Statement
Particulars (INR cr) Sep24 Sep23
Net Profit Before Tax 4 -3.5

Adjustments for: Non-Cash Items / Other Investment or Financial Items 24.4 22.8

Operating profit before working capital changes 28.4 19.3

Changes in working capital -1.2 3.5

Cash generated from Operations 27.2 22.8

Direct taxes paid (net of refund) (0.6) (1.1)
Net Cash from Operating Activities 26.6 21.7

Net Cash from Investing Activities -10.9 -17.7

Net Cash from Financing Activities -16.2 -2.7

Net Increase in Cash and Cash equivalents -0.5 1.3

Add: Cash & Cash equivalents at the beginning of the period 1.9 0.8

Cash & Cash equivalents at the end of the period 1.4 2.1

18
Way Forward

19
Strategic Priorities
Automotive Parts Business:
• Timely execution of a robust order book over next 5 years
• Focus on increasing content per vehicle through development of premium and value-added
products that will command higher margins
• To onboard new customers and increase the share of business
Non-Automotive Parts Business:
• Focus on Industrial application products
• To contribute in increasing the asset utilization and derisking
• To increase exports which has commenced to USA and further, exploring for GCC countries
Tooling Business:
• Committed to fulfil order pipeline spanning across auto and non-auto customers
• To enhance capacity upto 120 molds
• To ramp up capacity utilisation and achieve operating leverage

Aftermarket Business:
• Continue to grow topline at 20% plus per annum with a sharp focus on increasing
product range through inhouse development and outsourcing
• To strengthen distribution network for both domestic and international markets
• The company aims to generate 10% of the overall revenue by FY28 from the
aftermarket division
20
Guidance and Roadmap to Margin Expansion
Growth Drivers for Margin Expansion

FY24 FY25E FY26E

Sweating of Existing Assets and New Investments

Revenue Rs 523 Cr Rs 550 to 575 Cr Rs 600 to 660 Cr

Softening of Raw Material Prices

EBITDA Rs 40 Cr Rs 60 to 65 Cr Rs 75 to 80 Cr
Improving Material Yield Ratios

PAT Rs (13) Cr Rs 10 to 13 Cr Rs 20 to 25 Cr To Focus on Margin Accretive Products

21
Company Overview

22
Board of Directors

Ajay Jain Abhishek Jain

Deepak Kumar Sethi Vinay Kumari Jain Celine George Rohit Rajput
Chairman and CEO and
Independent Director Non-Executive Director Independent Director Independent Director
Managing Director Managing Director

• Bachelor of Commerce • Bachelor of Science in • B.E. (Mech.) from Delhi • Bachelor of Science from • PGDM in Business • MBA finance from MDI,
from Shri Ram College of Industrial Engineering College of Engineering & Delhi University Economics from Delhi Gurgaon & Graduate in
Commerce, Delhi from Purdue University, M.B.A. from IIM-A University, PGDIM from Mechanical Engineering
• Founding partner of our
University USA • Work experience of over Company IMI Delhi and Chevening • Has over 21 years of
Gurukul Scholar from experience across a
• Associated with the • Work experience of over 40 years primarily in • Associated with the variety of disciplines
Company since inception 15 years automotive sector. London School of
business since inception from engineering,
with experience of over He has worked with political science &
• President - Honda banking,
45 years in polymer Maruti Suzuki for over 38 • Work experience of over Economics entrepreneurship &
Suppliers Club three decades. She
processing industry and years • Associated with ONGC, consulting.
over 30 years in the • Coordinator Zone 2 possess a deep TCS, Cairn Energy, Max
• He was deputed as whole • Former CEO of Max
automotive industry Automotive Component understanding of healthcare
time Director of Suzuki Asset Services and was a
Manufactures Association automotive business director in Max I. Ltd.
• Ex President of Toyota Northern Region Powertrain India Limited, • She has over 30 years of
He was also part of the
Kirloskar Supplier At Maruti Suzuki as experience in the areas of
founding team at Max
Association Executive Director of Leadership, Business Ventures.
Supply Chain and Quality Transformation and HR
Assurance

23
 Journey Towards Excellence

2023-2024
1978 – 1990 2002 – 2007 o Listed on BSE and
2015 – 2016
NSE
o Established Plant - III o Established Plant - V
(Surajpur) and Plant - (Vallam Vadgal) and
o Conversion of IV (Pathredi) Plant VI (Ukhlod)
partnership firm to o M&M, Renault Nissan o VW, Hyundai & Kia
private company and Ford added as added as customers
o Established Plant - I customers o Establishment of
(Noida) o Established JV with aftermarket and electric
o Start of Interior & Tokai Kogyo (PTI) vehicle component
Exterior Plastic o Established captive tool business
Injection products room o Commencement of
o Incorporation of a o Honda added as o Technological tie up
o Established Plant – II o CKD parts exports Commercial Tooling o Developed batteries for
partnership firm customer with Tokai Seiki Co.,
(Noida) started business off-roard vehicles like
o Commenced Automotive Japan
o General Motors and golf-cart
business With Maruti o Isuzu Motors added as
Tata Motors added as o Developed 2K molding
Suzuki a customer
customers parts and mold for the
o Technical collaboration o Suzuki Motorcycle
o Technological tie up same
with Tokai Kogyo Co. added as a customer
with Nissen Chemitec o Ventured into the
(Japan) o Honda Motorcycle &
Corporation, Japan export for Industrial
o Start of Automotive Body Scooters added as a
Sealing Systems products and
customer (Tier2)
Automotive spares

1990 – 2002 2008 – 2014 2018 – 2023

24
Manufacturing Facilities
Noida, UP
Plastic Extrusion Greater Noida, UP
PVC / TPO / PP MATERIAL
Chennai, TN
Viramgam, GJ
• 4 Locations; 15 Extrusion Lines
• Bending technology, Welding technology, Chrome SUS extrusion and Notching technology

Rubber Extrusion Noida, UP

EPDM & TPV MATERIAL Greater Noida, UP
• 2 Locations; 3 EPDM extrusion lines, 1 TPV extrusion Line Chennai, TN
• Hard, Soft and Foam co-extrusion technology Viramgam, GJ

Injection Molding
PP / ABS / POM Noida, UP
PPAP’s Engineering • 3 Locations; 45 Machines, Range: 60 Tons – 2,500 Tons
Greater Noida, UP
Chennai, TN
• Electric, Hybrid, Gas assist, Sequential gate valve, and Hot runner technology
Expertise Viramgam, GJ

Commercial Tool Room Noida, UP

• Size upto 1.8 meter Greater Noida, UP
• Hot runner molds, Gas assist, Hot runner with sequential gate valve Multi cavity Chennai, TN
mold Viramgam, GJ

Battery Pack Assembly

• 3 lines – Cylindrical and Prismatic Cells
• State of the art testing and assembly facility Noida, UP
• 150 MWh per year
• Mobility and Storage System

25
 Operating Locations

Pan India Presence

Note –Map not to scale. All data, information, and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness.
26
Product Portfolio – 4W Parts

27
Product Portfolio – 4W Parts

28
Product Portfolio – 2W/3W Parts

29
Esteemed Clientele
Passenger Vehicle

Commercial
Wheeler

Vehicle
Two-

V
Non Automotive

Energy Storage
Solutions
Content per
vehicle for Key
OEMs Up to INR 3000 UP TO INR 6000 UP TO INR 5000 UP TO INR 8000 UP TO INR 2500
30
 Business Segments
Commercial Tool Industrial Products Li-on Battery
Automotive Parts Aftermarket
Room Business Business

 Core competence in developing  Development of Plastic Injection  Extension of core competence of  100% owned subsidiary of PPAP  Development and sales of spare
Automotive Body Sealing systems tools up to 1.5m * 1.0m Plastic and Rubber processing to parts, accessories for after market
and Interior and Exterior Injection neighboring industries other than  Focus on Storage applications
molded parts  Established in 2020 as a separate Automotive (Solar, Telecom, ESS, Inverter &  100% owned subsidiary of PPAP
profit center UPS Batteries)
 All products are engine agnostic  Development Application  PAN India distribution network for
products  Focus on development of injection Engineering products  Inhouse design and development offline sales
mold for Automotive, White capabilities and best in class
 Enhancing per car contribution by Goods, Medical, Electrical and  Focus on various industries – Manufacturing facility  e-commerce network for online
adding more products and other related Industries Packaging, White Goods, sales through own website and e-
increasing the customer base in all Household, Construction commerce portals
segments (PV/2W/CV/T1)  Global Level facility with
Excellence in Tool design and  Focus on domestic and  Focus on domestic and
 Focusing on developing dedicated Manufacturing capabilities international market international market
parts for Electric vehicles

 Global Level development of

value-added products through in
house design and technology
development capabilities

31
Business Segments – Commercial Tool Room
Key Highlights Glove Box

 State of the art Manufacturing facility for development of global level plastic injection molds
 Capacity to make mold up to 1.8 mtr
 Develop of molds for Automotive, Electrical, White Goods and Medical sector
Reinforcement & C Pillar Trim Parts

Internal Drawings

FR, CTR & RR Pillar Parts

32
Business Segment – Industrial Product
Key Highlights Plastic Extrusion

 Leveraging the use of existing plastic and rubber extrusion along with injection molding
 Started Export during last quarter
 70+ product developed, 10+ under development
 Focus on developing the Sealings, Gaskets, Hoses and various injection molded products for
industrial application

Rubber Extrusion Injection Moulding Plastic Storage Containers

Washing M/C Tub Washing M/C Base

Paint Dispenser – Base Refrigerator Freezer Door

33
Business Segments – Li-on Battery
Key Highlights E2W/E3W Battery Pack

 State of art assembly facility

 AIS 156 Certified Battery Pack – 2 / 3 Wheeler application
 Leveraging the growth of Electric Vehicles, Solar Energy, Energy Storage systems
 Launched more than 10 products since launch
 Design and development of customized battery packs

Telecom battery E3W Battery Pack Energy storage system

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Business Segments – Aftermarket
Key Highlights
1200+ SKUs
 Focus on expanding the domestic network as well as international market currently available under the categories of
 Started export in quarter 3 Interior and Exterior Accessories and Parts
 Launched 550+ more products in aftermarket in FY25
No. of Distributors
 Continuous expansion of existing Product portfolio & addition of new product 137
lines 123
107
 Collaboration with other automotive part suppliers for increasing distribution
channel for sales growth

Regional Demand Breakup Online Sales Channel

FY23 FY24 Q2FY25
Carobis
East 0.5%
South
22.0% SKU Count
29.0% Amazon
34.5%
1237
1087

497
65.0%
17.0% 32.0% Elpis
North West
FY23 FY24 Q2FY25

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Product Portfolio – Aftermarket
Spare Parts

Available Across
Body Side
Bumper Fender Lining Battery Box Front Lower Grill Mud Flap
Moulding

Horn Door Visor Grill Glass

Double Armed Hook Jimny Power Supply
Compound

Car Accessories
• Premium Car accessories
• Interior
• Phone holder
• Rear tray
Smart Phone Holder Drink Holder Ash Bottle • Charger sockets
• Perfumes
• Steering Covers
• Range of self use cleaning products Shopeplis.com
• Glass cleaners
Trash Box
• Wax polish
Jimny Drink Holder Perfume
• Touch up products

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 PPAP – Strengths
Strong R&D Capabilities
Pioneering innovation, our strong
Strategic & Technology R&D capabilities fuel our competitive Strong Distribution and
edge, enabling us to shape the
Driven Alliances industry landscape and meet Localisation
Our commitment to strategic and evolving market demands Our extensive distribution network
tech-driven alliances positions us as ensures that our products are localized
a dynamic force, driving forward with and reach customers far and wide,
adaptability and cutting-edge enhancing accessibility and customer
solutions satisfaction

Long-Standing Relationships Robust systems &

with OEMs Governance Mechanism
Fostering enduring partnerships, our A robust governance mechanism
long-standing relationships with OEMs forms the backbone of our
form the bedrock of our success, operations, ensuring transparency,
ensuring seamless collaboration and accountability, and efficiency at
mutual growth every level of our organizational
framework

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Environment, Social and Governance Review

38
Approach & Strategy
Sustainable Strategy Sustainability for Long-Term Governance Structure

39
Corporate Sustainability
Sustainability Report Public Disclosure of PPAP
FY 23-24 Sustainability (ESG) Targets

➢ Achieve net zero by 2045. Our total renewable

188.37 tCO2 7359 KL water 233.85 ton of
➢ Achieve carbon-neutral energy production of
Emission saving via water Recycled input
2912 GJ is enough to
operations by 2040. power approximately reduction saving kaizens material used
➢ RE100 by 2040 across 650 average Indian
operations. Environment households for a year.
➢ Attain water neutrality by 2040
➢ Zero Waste to Landfill across
business sites by 2040
➢ Instill a zero-harm work
environment.
➢ Improve gender diversity across
business operations Social
Social
➢ Workforce for tomorrow by
18.22 Average training 8.4% women in 0.14 Cr utilized in
Assured by DQS India upskilling employees. hours per employee the workforce various CSR activities
➢ Uphold highest ethical and
Published on GRI(Global Social Social
regulatory compliances.
Reporting Initiative)

The PPAP aligns with 12 out of

the 17 Sustainable
Development Goals (SDGs).
Governance
28.5% women Zero fines for Zero cases of Zero cases
director on board noncompliance privacy breaches of privacy
breaches
Awards & Accolades

Overall Performance Zero Defect Supplies Award Annual Supplier –TATA

Overall Excellence -MSIL Gold Award - Toyota
Vendor Award- MSIL - Toyota MOTORS

Delivery Performance Best Performance Regional Contribution Award- Silver Award for
Overall, Gold Award - MSIL
Award- Asahi India Award - Toyota Toyota Delivery- Honda

Overall Performance Award - MSIL Silver Award for Delivery - HCIL 1st Position in Kaizen Competition - TATA Quality Circle Bronze Award - TKSA

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Historical Financials

42
Standalone Profit & Loss Statement
Particulars (INR cr) FY24 FY23 FY22
Revenue from operations 503.9 492.3 409.1
COGS 299.1 300.8 247.1
Gross Profit 204.8 191.5 162.0
Gross Profit Margin 40.6% 38.9% 39.6%
Employee Expenses 90.7 79.0 69.6
Other Expenses 70.2 66.9 53.3
EBITDA 43.8 45.6 39.0
EBITDA Margin 8.7% 9.3% 9.5%
Other Income 3.8 3.3 2.0
Depreciation 32.1 29.5 29.0
Finance Cost 12.3 10.3 6.0
Profit before Tax 3.2 9.0 6.1
Tax expenses 7.9 2.2 1.5
Profit for the year -4.7 6.8 4.6
PAT Margins -0.9% 1.4% 1.1%
EPS -3.3 4.9 3.3

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Standalone Balance Sheet
Liabilities (INR cr) FY24 FY23 FY22 Assets (INR cr) FY24 FY23 FY22
Equity Non-Current Assets
Property, Plant and Equipment 284.8 292.6 261.4
Equity Share capital 14.0 14.0 14.0
Capital work-in-progress 14.7 8.9 20.8
Other Equity 299.0 302.5 298.8
Other Intangible Asset 8.7 7.5 8.8
Non-Controlling Interest 0.0 0.0 0.0 Investment Property 0.7 0.9 1.1
Total Equity 313.0 316.5 312.8 Intangible assets Under Development 2.0 1.7 0.0
Financial liabilities
Right of Use Asset 3.4 0.8 1.1
(i) Borrowings 63.9 67.2 72.4 Financial Assets
(ii) Lease liabilities 2.0 0.3 0.5 (i) Investments 65.0 65.0 63.0
(iii) Other Financial liabilities 0.1 0.2 6.3 (ii) Loans 0.0 0.0 0.0
Provisions 5.3 5.8 0.0 (iii) Other financial assets 3.0 2.5 3.7
Tax Assets(Net) 1.7 1.1 1.2
Deferred tax liabilities (Net) 15.9 7.9 7.1
Other non-current assets 12.6 9.6 10.3
Total Non-Current Liabilities 87.3 81.3 86.6 Total Non-Current Assets 396.6 390.8 370.2
Financial liabilities Current Assets
(i) Borrowings 74.69 55.3 19.4 Inventories 58.5 58.1 42.9
(ii) Trade Payables 56.5 62.2 46.9 Financial Assets
Investments 6.2 4.5 2.7
(iii) Other financial liabilities 6.9 5.7 5.8
(i) Trade receivables 70.1 61.9 52.2
(iv) Lease liabilities 1.0 0.5 0.5 (ii) Cash and cash equivalents 1.0 0.4 0.2
Provisions 1.0 0.1 6.3 (iii) Other bank balances 0.1 0.1 0.1
Other current liabilities 27.5 19.6 17.5 (iv) Loans 24.0 14.8 7.5
Current tax liabilities (Net) 0.0 0.0 0.0 (v) Other financial assets 0.7 1.8 1.8
Other current assets 10.8 9.7 11.5
Total Current Liabilities 167.7 144.2 90.9
Total Current Assets 171.4 151.4 120.1
Total Equity and Liabilities 568.0 542.2 490.3 Total Assets 568.0 542.2 490.3

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Standalone Cashflow Statement
Particulars (INR cr) FY24 FY23 FY22
Net Profit Before Tax 3.2 9.0 6.1
Adjustments for: Non-Cash Items / Other Investment or Financial Items 42.5 35.9 31.5
Operating profit before working capital changes 45.7 44.9 37.6
Changes in working capital -7.5 -3.9 6.3
Cash generated from Operations 38.2 41.0 43.9
Direct taxes paid (net of refund) -1.7 -2.1 -3.4
Net Cash from Operating Activities 36.5 38.9 40.5
Net Cash from Investing Activities -29.6 -49.3 -70.2
Net Cash from Financing Activities -6.3 10.5 29.0
Net Increase in Cash and Cash equivalents 0.6 0.2 -0.8
Add: Cash & Cash equivalents at the beginning of the period 0.4 0.2 1.0
Cash & Cash equivalents at the end of the period 1.0 0.4 0.2

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Consolidated Profit & Loss Statement
Particulars (INR cr) FY24 FY23 FY22
Revenue from operations 522.9 511.1 421.9
COGS 312.9 313.6 255.8
Gross Profit 210.0 197.5 166.1
Gross Profit Margin 40.2% 38.6% 39.4%
Employee Expenses 95.2 82.9 72.2
Other Expenses 75.1 70.6 55.2
EBITDA 39.7 43.9 38.6
EBITDA Margin 7.6% 8.6% 9.1%
Other Income 1.7 1.4 1.0
Depreciation 34.1 31.1 29.5
Finance Cost 14.7 11.7 6.5
Share in Profit of Joint Venture -0.6 -7.6 -3.5
Profit before Tax -8.1 -5.1 0.1
Tax expenses 5.0 0.8 0.9
Profit for the year -13.0 -5.9 -0.8
PAT Margins -2.5% -1.2% -0.2%
EPS -9.3 -4.25 -0.6

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Consolidated Balance Sheet
Liabilities (INR cr) FY24 FY23 FY22 Assets (INR cr) FY24 FY23 FY22
Equity Non-Current Assets
Equity Share capital 14.0 14.0 14.0 Property, Plant and Equipment 300.3 309.7 273.9
Capital work-in-progress 14.8 9.0 20.8
Other Equity 268.9 280.7 289.9
Other Intangible Asset 9.3 8.3 8.8
Non-Controlling Interest 0.0 0.0 0.0
Intangible assets Under Development 2.1 1.7 0.7
Total Equity 282.9 294.7 303.9
Right of Use Asset 3.4 0.9 1.6
Financial liabilities
Financial Assets
(i) Borrowings 73.6 79.9 78.9
(i) Investments 36.7 37.3 42.9
(ii) Lease liabilities 2.0 0.3 0.9 (ii) Loans 0.0 0.0 0.0
(iii) Other financial liabilities 5.6 6.0 6.4 (iii) Other financial assets 3.0 4.6 5.1
Deferred tax liabilities (Net) 10.0 5.1 6.0 Deferred Tax Assets (net) 1.7 1.1 1.2
Other non-current assets 12.7 10.2 10.3
Total Non-Current Liabilities 91.3 91.3 92.2
Total Non-Current Assets 384.0 382.8 365.4
Financial liabilities Current Assets
(i) Borrowings 85.7 70.9 78.9 Inventories 69.3 76.1 56.1
(ii) Trade Payables 57.5 63.3 48.6 Financial Assets
Investments 6.3 4.5 2.7
(iii) Other financial liabilities 7.8 6.4 0.1
(i) Trade receivables 72.7 65.1 55.9
(iv) Lease liabilities 1.1 0.6 0.8 (ii) Cash and cash equivalents 1.9 0.8 0.4
Provisions 1.0 1.0 6.4 (iii) Other bank balances 0.1 0.1 0.1
Other current liabilities 27.8 19.8 17.7 (iv) Loans 0.6 0.1 0.0
(v) Other financial assets 3.1 2.1 1.8
Current tax liabilities (Net) 0.0 0.0 0.0
Other current assets 17.0 16.4 17.2
Total Current Liabilities 181.0 161.9 103.5 Total Current Assets 171.2 165.1 134.2
Total Equity and Liabilities 555.2 548.0 499.5 Total Assets 555.2 548.0 499.5

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Consolidated Cashflow Statement
Particulars (INR cr) FY24 FY23 FY22
Net Profit Before Tax -8.1 -5.1 0.1
Adjustments for: Non-Cash Items / Other Investment or Financial Items 49.1 48.6 36.7
Operating profit before working capital changes 41.1 43.5 36.9
Changes in working capital 1.3 -11.2 -5.3
Cash generated from Operations 42.4 32.3 31.6
Direct taxes paid (net of refund) -1.8 -2.3 3.6
Net Cash from Operating Activities 40.6 30.0 28.0
Net Cash from Investing Activities -30.0 -57.7 -70.9
Net Cash from Financing Activities -9.5 28.1 41.9
Net Increase in Cash and Cash equivalents 1.1 0.4 -0.9
Add: Cash & Cash equivalents at the beginning of the period 0.8 0.4 1.3
Cash & Cash equivalents at the end of the period 1.9 0.8 0.4

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 For further information, please contact

Company : Investor Relations Advisors :

CIN: L74899DL1995PLC073281 CIN: U74140MH2010PTC204285

Ms. Pankhuri Agarwal Mr. Aakash Mehta / Mr. Rahul Agarwal

[email protected] [email protected] / [email protected]
+91 98706 79263 / +91 98214 38864

www.ppapco.in www.sgapl.net

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