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PRESENTATION AT ANALYST MEET 26 th May, 2004. FY 04 Highlights. Record topline and bottomline growth Initiated steps to expand business platform and lower business risk by - setting up second automotive plant in the South (Chennai)

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Fy 04 highlights
FY 04 Highlights

  • Record topline and bottomline growth

  • Initiated steps to expand business platform and lower

  • business risk by

  • - setting up second automotive plant in the South (Chennai)

  • - setting up architectural glass processing facility in the West (Taloja)

  • Continued focus on raising internal efficiencies and building

  • “relevant” self sufficiency in technology

  • Recommended a dividend of Rs. 2.25 / equity share, resulting in

  • pay-out of over 28 % in line with Company’s stated policy.


Automotive Glass SBU - Highlights

  • Continued to maintain leadership position in the automotive glass

  • segment, with over 90 % market share in passenger cars

  • Started supplies to the new models launched during the year

  • Received following Award / Recognition :

  • - “Overall Performance” from Maruti-Suzuki

  • - “Achieving Target of Quality” from Toyota-Kirloskar

  • - “Achieving Target of Delivery” from Toyota-Kirloskar

  • - “Q 1 Award” from Ford India

  • - “TS-16949” certification

  • Achieved levels of operating efficiencies in line with best in

  • class benchmarks


Float Glass SBU - Highlights

  • Achieved a record production of 31.45 million csqm. against rated

  • capacity of 29 million csqm.

  • Rationalized product mix, with focus on high-yielding products like

  • thicker, tinted glass

  • Continued focus on improvement activities in areas like quality,

  • customer service, TQM

  • Maintained market share of 20 %, in the Indian flat glass industry.


Highlights of Financial Year 2003-04

  • Net Sales increased 19 %, with Operating Profit, Cash Profit and

  • PBT increasing by 42 %, 51 % and 108 % respectively over FY 03.

  • Operating margin (PBDIT / Net Sales) stands at 25.75 %

  • ROCE (PBDIT / Average Capital Employed) and RONW recorded at

  • 32 % and 69 % respectively.

  • Total Debt / Equity and Interest-bearing Debt / Equity stand at 2.08

  • and 0.29 respectively.

  • Financial coverage (PBIT / Interest) stands at 33.

  • CEPS and EPS soar to Rs. 15.39 and Rs. 8.9



OVERVIEW OF 2003-04 RESULTS – MERGED

Results include other income as under (Rs. Lakhs)

2002-03 2003-04

Other income 578.33 1485.34

Other income primarily relates to gains on account of foreign exchange (i.e. appreciation of the Indian Rupee).



MARKET SCENARIO : INDIAN VEHICLE PRODUCTION

Vehicle Exports FY 03 -04 82925 against the total of 42600 in FY 02-03



DOMINATING THE OE BUSINESS

Customer

Share of Business

Asahi India is the sole glass

supplier to almost the

entire Indian car business.

Current market share is approximately 91% of automotive glass sales to OEMs.

Building presence in the after market has been a key

element of the strategy to diversify sales. Current market shares is 55% in the automotive glass replacement market in terms of value.

Fiat India

: Palio

50%

: Uno

100%

Ford India

100%

General Motors India Ltd.

100%

Hindustan Motors - Lancer Project

100%

Honda Siel

100%

Hyundai Motors India

100%

Mahindra & Mahindra

: Scorpio

100%

: Other MPV's

50%

Maruti Udyog Ltd.

100%

TELCO

: Indica

70%

: Safari

100%

: Other MPV's

30%

Toyota Kirloskar

97%

TOTAL

91%


MARKET WISE SALES

7%

7%

11%

7%


SHOPFLOOR PERFORMANCE

AIGL (automotive) shop floor performance can be benchmarked to best in

class, covering all parameters.

  • Shop floor yields, at over 96%.

  • Customer claims are within 100 ppm.

  • Machine uptimes are in the range of 98%



TECHNOLOGY DEVELOPMENT

A key strategic initiative at Asahi India has been in the area of building

“relevant” self sufficiency in technology.

We are fully equipped with CMM, CAD and a CNC Milling station, which provides

self sufficiency in the area of product development. We have, however, gone

beyond this into the area of developing and building glass processing

equipment.

CNC PRE-PROCESS LINE DEVELOPED BY ASAHI INDIA


2ND AUTOMOTIVE GLASS PLANT

  • Asahi India’s laminated plant at Bawal, with a capacity to manufacture 1.2 million windshields, is currently operating at full capacity.

  • With most of the new capacity having been established by majors like Hyundai, Toyota and Ford in South India, the second automotive glass plant is being set up in Chennai in South India. Car production in this area is expected to rise from the current level of 220K to over 470K in next five years

  • Besides proximity to key customers, Chennai is a Port city, thus allowing cost reduction in import of raw material (such as PVB)as well as in possible future exports.

  • Commercial production of laminated windshields at second plant (Phase I) to commence from October, 2004. Capex for Phase I planned at Rs. 53 crores.


EXPANSION : BRIEF HIGHLIGHTS

  • In Phase 1, only laminated plant to be established in Chennai – with capacity of 500,000 windshields. Plan for raising laminated capacity to 1.5 million windshields to be decided later, depending on overall demand situation.

  • Plant to be set up in modular fashion – i.e. ability to take capacity up to 1.50 million windshields with some de-bottlenecking and additional investment.

  • Plan to invest in Chennai for tempered capacity.

  • Once fully set up, new facility in Chennai planned at capacity of 1.50 million laminated windshields and 1.0 million tempered car sets.

  • Chennai facility to include Value Addition capability (Assemblies, Add-ons) as required.


Expansion Location - Automotive Glass Plants

Current

Plant

Proposed

expansion




QUARTER WISE SALES AND MONTHLY PRICE TREND

  • Sales peaked in the third quarter, but at lower prices.

  • Prices remained quite static in the 3rd and 4th quarters, but volumes dropped off in the

  • last quarter.





SHOPFLOOR PERFORMANCE

At 31.45 million csqm, production is up by over 37% from 2000-01 (the last year before the coming together of FGI and AIS to form AIGL).



Asahi India Group Vision

To be India's leading integrated glass company

AUTOMOTIVE GLASS VALUE CHAIN

Automotive glass

manufacture

(AIS)

Allied Products

distribution

(e.g. sealants)

(AWAGS)

Auto Glass

Retail

(Windshield

Experts)

Automotive Glass

distribution

(AIM)

(Blue cells signify those areas where we are already present, Grey cells

where we are present by way of tie ups, Green cell where set up / launch activities have been initiated and un-shaded cell the areas

which are under consideration for the way forward)

Float Glass manufacture

(FGI)

Value Added Products

: Reflective

: Mirror

Processing:

: Laminated

: Tempered

: Insulated Glass

Fabrication

Installation

Design &

Retail

ARCHITECTURAL GLASS SOLUTIONS


Capturing value chain presence
Capturing value chain presence

  • In the automotive glass business, Asahi India already has a value chain presence, reaching out to end consumer.

  • In the architectural glass business, Asahi India is initiating steps to capture the value chain, through a separate SBU - Glass Solutions, to address the following segments :

  • - Architectural processing & glass products

  • (First unit being set up at Taloja near Float Glass Plant)

  • - Product and knowledge development

  • - Glass Services

  • - Sales & Marketing

  • Asahi India will work towards capturing values in the complete chain in FY 2004-05.


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