Cooling the Planet Cooling the Planet Investor Meet March, 2019
Cooling the Planet 1. Company Introduction 2. Business Outlook 2. Subros Business 4. Past Performance and Future Plan 2
Cooling the Planet Cooling the Planet About Subros
Cooling the Planet Established in 1985, Subros is the Largest Air Conditioning & Thermal Products company in India. A Joint Venture company between Equity Distribution Suri’s (Indian Promoters)-36.79%, Denso- 20%, Suzuki-11.96%, Public-31.25% Business Integrated Thermal Products manufacturer for auto and non auto products Segments Car, Bus, Truck, Refer, Railways and Home Pressure Die Casting Noida Plant Pune Plant AC domain. Plants 7 Locations (Pan India Presence) Technical Centre 1 Location(Noida) Tool Engineering Centre 1 Location (Noida) Certifications ISO 14001,IATF 16949, OHSAS 18001 Manesar Plant-1 Chennai Plant Sanand Plant Market Shares 40% (Passenger Car AC) 60% (Truck Aircon/Blower) Gross Revenues Rs 1964 Cr (2017-18) (307 Million USD) Tool Engineering Centre Manesar Plant-2 Technical Centre 4
Cooling the Planet Location wise Product Profile Engineering & Development Centres : Denso Subros Engineering Services Centre ( Design JV ) - Noida Central Technical Centre – Noida Product Engineering Centre – Chennai STEC- Tool Engineering and Manufacturing-Noida Plant wise Product Profile : Noida – Compressors, Heat Exchangers, Pressure Die Casting , Press Shop, Injection Molding (Small Parts) Manesar – Car ACs, ECM products, Gujarat- Car AC products Pune – Car / CV Ac products Chennai – Car / CV Ac , Rail AC, ECM , Off Road ECM, Bus ACs, Truck Refrigeration Systems, Home AC Condensers Total Land area -all plants-256,568sq mtr Total Building area-all plants 136,419sq mtr 5
Cooling the Planet Passenger Car Segment Commercial Vehicle Segment Railways (AC+ECM) (Bus, Truck, Tractor) (Driver Cabin +Coach ) Home AC-Hx Refrigeration Trucks 6
Cooling the Planet Refrigeration Truck Thermal Products Bus Thermal Products Railways Thermal Products Passenger Car Thermal Products Home AC Heat Exchanger 7
Cooling the Planet THREE DECADES OF BUILDING TRUST Launch of 10 million transport HVAC Refrigeration production System completed Capacity Completion 1.5 of 25 Million years, Capac AC kits ity 1 Million 2019 AC kits Start of 2015 Pune Plant Operations 2014 Started at Manesar 2013 Plant MF Condenser STEC (Subros 2012 plant Tool 2010 Engineering Radiator entrustment 2009 Centre) Setup 2007 production started for Denso Subros 2006 Bus AC Launch of Rail celebrated 30 Years of Development 2001 CAB AC System Inauguration partnership 2000 of Chennai 1995 Start of Denso plant Squeeze Die 1987 Subros Set up of Noida Casting Plant Engineering Plant-2 1985 Centre Set up of Noida Launch of Home AC Plant-1 Condenser Chennai Plant becomes Established operational 8
Cooling the Planet Shop Floor Compressor Assembly Helium leak test machine Robotic Vision inspection Condenser Assembly (Clean Room) Nocloc brazing furnace Injection molding machine RS Evaporator Line Robotic manipulator for Condensor extractor Tube liquid line HVAC assembly line Robotic surface treatment machine Squeeze & vacuum pressure die casting machine Presence of world class manufacturing infrastructure 9
Cooling the Planet Technical Centre & Tool Room System Calorimeter CAD-CAM Facility Vibration Resistance Testing Die spotting press Noise Chamber Computer aided engineering Environment Test Chamber CNC VMC VF6 (CAE) Equipped with all infrastructure required for product design and validation locally 10
SUBROS Evolution Design Responsive Company Cooling the Planet High Business Imperatives Design & Development Capability • Cost Leadership • Innovation Full Service • Time to Market Organization (Concept Delivery) Manufacturing Engg. 2008 ~ Design from Specs Manufacturing Carry Over 2002~ 2008 designs SKD/ CKD Assy Localizaiton 1994-2001 1985-1993 Low High Manufacturing Capability
Subros Envisioned Future Cooling the Planet CORE IDEOLOGY ENVISIONED FUTURE Core Purpose Vision We aim to provide comfort by adopting new and innovative technologies, while striving to make the planet a better place. Core Ideology • Core Purpose • Core Values Envisioned Future Core Values VIVID Description – 25 Years Later Vivid Description Respect for individual irrespective of Respect In not too distant a future, we shall be redefining “ Cooling level Comfort ” while reducing our Carbon footprint. Respect for all stakeholders We shall be finding new ways of doing “ More and more ” while Inspired minds Passion & consuming “ Less and less ” in efforts and resources, through Drive Excellence Commitment innovative designs and processes respectively. Keeping Promise We shall be actively contributing to “ Sustainable Energy ” and Trust Integrity - Personal & Professional “ Sustainable Transport. ” Transparency Team Work Shared Purpose Our products and services shall expand to all areas where Collaborative Action thermal management becomes crucial – Public Transport / Joy & Happiness at the Workplace Smart Buildings, and Cold Chains.
Subros Corporate Philosophy Cooling the Planet Corporate Objective -------------------------------- Customer Satisfaction Cost leadership Growth with profitability
Comprehensive Excellence at Subros Cooling the Planet Pillars Manufacturing Process Maintenance Capability Scale & Capability for Top Mgmt Focus on Manufacturing and Safety Management Tier-2 Management Product Design & Testing Facilities Risk Management Human Resource Future Investment Development Development Excellence Control Subros strives continually to excel on all 10 pillars of Comprehensive Excellence in our Journey of Excellence Monozukri Activities MSSE Activities TL Round Activities DOJO Activities
Cooling the Planet Subros follows policies at company level, plant level and Individual level to identify and execute CSR projects To contribute to a better world, Subros will provide solutions to social issues through its business activities, thus delivering new value to society. Long-term Policy of As a Company earn the " preserving the Earth's trust and meets the environment " and expectations of people " creating a society that thru providing ensures security and Cooling Comfort safety ." 2 3 1 Environment Skilling up of Community Friendly Human Development Products and Resources Sustenance Adoption of Schools Blood donation camp 15
Cooling the Planet Business Outlook Segments 16
Cooling the Planet This presentation might contain forward looking statements which involve a number of risks, uncertainties and other factors that could cause the actual results to differ materially from those in the forward looking statements. The Company undertakes no obligation to update these to reflect the events or circumstances thereof. Secondly, these statements should be understood in conjunction with the risks the company faces. 17
Cooling the Planet Unit in 100,000 Unit in M Growth projections @ 8- 10% in 18-19 (SIAM). Car’s by 8% and UV’s by 4% Increasing Growing Demand Policy Support Investments Rising Investment from Goal of establishing India Rising Income, Young Domestic and Foreign as Auto Hub Population Players Resulting Inviting R&D Focus-GOI has setup Greater availability of Greater Product Technology Modernization credit and financing Innovation, Market fund options Segmentation Strong growth in Demand Projected to Policy- SOP-FDI exports, improved remain Strong in line Encouragement infrastructure with GDP Growth
Indian Passenger Vehicle Industry performance so far… Cooling the Planet PV Industry to grow @ 1% in 2018-19 & likely @ 4~5% in 19-20 due to current situation, elections and shift to BSVI. Price impact also. Major New Launches in 2018-19 MSIL- New Ertiga , New AOP Year WagonR, , M&M- Marrazo , Alturas & XUV300, TML- Harrier, RN- Kicks, Hyundai- New Santro, Honda- New Amaze MSIL is market leader in PV segment with market share of 51% Due to rationalization of Diesel & Petrol pricing gap, Diesel engine vehicle demand is reducing. In 6 yr time the ratio has changed from 42:58 (P/D) to 64:36 (p/D) and further expected to be 76:24 (p/D). Based on Production Ford is the 3 rd largest in India Source- ICRA research New OEM Launches in 2019-20 MG Motors- Hector (SUV) and Kia- SP2i (Compact SUV).
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