July 26, 2023

To,
National Stock Exchange of India Limited BSE Limited
Exchange Plaza, 5th Floor, Corporate Relationship Department,
Plot No. C/1, G Block, 2nd Floor, New Trading Wing,
Bandra – Kurla Complex, Rotunda Building, P.J. Towers,
Bandra (E), Mumbai -400 051 Dalal Street, Mumbai – 400 001

Symbol: SJS Scrip Code: 543387

ISIN: INE284S01014

Dear Sir/Madam,

Subject: Earnings Call Presentation of the Company pertaining to Q1 of FY 2023-24

In continuation with the Company’s letter dated July 20, 2023, pertaining to Intimation of schedule of
Earnings call to be held on Thursday, July 27, 2023 at 11:00 a.m. (IST) and pursuant to Regulation 30 of
SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find enclosed herewith
the earnings presentation on the unaudited Financial Results of the Company for the quarter ended
June 30, 2023.

Also, this presentation will be uploaded on the website of the Company at https://www.sjsindia.com/

Request you to kindly take the above on record.

Thank you,

Yours faithfully,
For S.J.S. Enterprises Limited

Digitally signed by
THABRAZ THABRAZ HUSHAIN
HUSHAIN WAJID AHMED
WAJID AHMED Date: 2023.07.26
17:16:08 +05'30'
_____________________
Thabraz Hushain W.
Company Secretary and Compliance Officer
Membership No.: A51119

Encl: As mentioned above

 SJS Enterprises Limited
Q1FY24 EARNINGS PRESENTATION
SJS| Disclaimer

Certain statements made in this presentation relating to the Company’s objectives, projections, outlook,
expectations, estimates, among others may constitute ‘forward-looking statements’ within the meaning of
applicable laws and regulations. Actual results may differ from such expectations, projections etc., whether
express or implied. These forward-looking statements are based on various assumptions, expectations and
other factors which are not limited to, risk and uncertainties regarding fluctuations in earnings, competitive
intensity, pricing environment in the market, economic conditions affecting demand and supply, change in
input costs, ability to maintain and manage key customer relationships and supply chain sources, new or
changed priorities of trade, significant changes in political stability in India and globally, government
regulations and taxation, climatic conditions, natural calamity, commodity price fluctuations, currency rate
fluctuations, litigation among others over which the Company does not have any direct control. These factors
may affect our ability to successfully implement our business strategy. The company cannot, therefore,
guarantee that the ‘forward-looking’ statements made herein shall be realized. The Company, may alter,
amend, modify or make necessary corrective changes in any manner to any such forward looking statement
contained herein or make written or oral forward-looking statements as may be required from time to time on
the basis of subsequent developments and events

Q1FY24 Earnings Presentation June 2023 2

SJS| Today’s Presenters

K A JOSEPH SANJAY THAPAR MAHENDRA NAREDI DEVANSHI DHRUVA

Managing Director CEO & Executive Director Chief Financial Officer Head–Investor Relations

• Founded the company in 1987 • Over 30 years of experience in • 20+ years of experience in • Previously worked with Westlife
the automotive industry financial management, key Development Limited
• More than 34 years of accounting & financial analysis, (McDonald’s India) and Piramal
experience in aesthetics • Previously worked with Ashok FP&A, fundraising, M&As, legal Enterprises Limited managing
printing business Minda Group, Minda Valeo & compliances, and strategy. Investor Relations. Earlier
Security Systems, Minda HUF
• Post graduate diploma in • Previously worked in Minda worked as Equity Research
Limited, Tata Engineering and
business administration from Corporation, Wipro & GE Analyst with Dolat Capital
Locomotive Company Limited
the St. Joseph’s College of Markets Pvt. Ltd.
(now known as Tata Motors
Business Administration, • Bachelor’s degree in Law &
Limited)
Commerce from Rajasthan • PGDM – Finance from K J
Bangalore; B.Sc from Bangalore
Somaiya Institute; M.Com &
University • Bachelor’s degree in science University, Chartered
Accountant and Company B.Com (Accounting & Finance)
(mechanical engineering) from
Secretary from ICAI and ICSI from University of Mumbai
the Delhi College of Engineering

Q1FY24 Earnings Presentation June 2023 3

SJS| Premium aesthetics products manufacturer
Overview

Key Facts
Established market leader in an attractive business segment Market leadership
in India for
Rs 1,172.5 Mn Operates in the high value-add aesthetics market across multiple consumer-oriented end industries; Aesthetic
Revenue Q1FY24 increased focus on aesthetics and premium content creating opportunity throughout the component supply Products
chain: SJS well-positioned to capitalize on the trends
26.1%
EBITDA margin Q1FY24 Differentiated, comprehensive product portfolio

Leading edge technologies and a wide product suite including decals, appliques/dials, overlays, logos/3D Demonstrated
4 lux, aluminium badges, in-mold decoratives (IMD), optical plastics and lens mask covers for diverse product portfolio
Production facilities applications expansion
(Bangalore, Pune, Manesar)
Legacy of technology and innovation: in-house design / development
~2,400
Strong in-house design and engineering capabilities and innovation track record across products,
Workforce technologies and materials; history of new product development and successful commercialization
Design-backed
supported by a dedicated R&D team
new product
22 175+ development
Long-standing core customer base consisting of leading OEMs
Countries Customer locations
served (Mar’22) Partner, co-creator and supplier of choice to several leading OEMs in the automotive and consumer
durables industry; dominant share of business in India and focused strategy to increase global presence
6,700+ 136 Mn Entrenched
SKUs Parts supplied Well-invested, lean operations designed to support multi-fold revenue customer
(FY23) (FY23) relationships
New state-of-the-art manufacturing facility at SJS commissioned in 2018 to support future growth

4
Q1FY24 Earnings Presentation June 2023
Q1FY24 Business & Financial Highlights
 SJS| Q1FY24 Highlights

• SJS automotive segment (2W+PV) grew at 18.6% YoY, compared to 2.3% YoY growth in auto industry
production volumes during the quarter

• Total Revenue at Rs 1,172.5 mn, 13.6% YoY growth

• Continue to generate strong cash flows & have a robust cash & cash equivalents1 at Rs 2,849.7 Mn

• Added Toyota Tsusho & Autoliv as new customers in automobile segment

• Extended coverage of Swachh Bharat initiative for garbage cleaning from 7 to 12 surrounding villages

July’23 - SJS completes acquisition of 90.1% stake in Walter Pack India (WPI) for a consideration of Rs 2,393 Mn
6
Note: 1) Post WPI acquisition, SJS cash & cash equivalents stands at Rs 461.7 Mn and Net debt at Rs 539.8 Mn Q1FY24 Earnings Presentation June 2023
 SJS| 15th Consecutive quarter of outperforming the Industry

Q1FY24 - Industry Production Volume1 v/s SJS YoY Sales2

Industry
SJS
24.6%
On account of lower
growth in Consumer
18.6% Durables and ‘Others’
segment
15.0%
13.6%

7.0%
2.3%
1.3%

Q1FY24 SJS exports revenue almost doubled YoY on account of new business wins and recovery in European market

7
Note: 1) Industry Production Volumes are production in India; 2) For SJS YoY Sales it is Consolidated numbers Q1FY24 Earnings Presentation June 2023
SJS| Q1FY24 Business Highlights
Strong growth story continues…

Growing Mega Accounts Adding New Customers

- Key Business Projects Won

8
Q1FY24 Earnings Presentation 8 June 2023
SJS | ESG Framework
Human Capital Inclusive Growth
• Employee Engagement • Local Community
• Diversity • Customer Satisfaction
• Health & Safety • Product Quality
• Collaboration • Training &
EHS Policy Development Risk Management
• Compliance with Laws • Stakeholder Management
• Prevention of Pollution • Code of Conduct
• Monitoring of Environmental • Accountability
& Safety Performance • Business Principles
• Continual Improvement • Adaptation of New Technologies

Sustainable Operations
• Material Management Ethical Business
• Energy Management SOCIAL • Business Ethics
• Waste Reduction • Regulatory Compliance
• Resource Efficiency • Anti-competitive behaviour
• Economic performance
ENVIRONMENTAL GOVERNANCE

Q1FY24 Earnings Presentation June 2023 9

SJS | CSR – Serving the Community

Extended coverage of Swachh Bharat initiative for SJS sponsored, para climber – Manikandan won Bronze medal at IFSC
garbage cleaning from 7 to 12 surrounding villages Para climbing World Cup in Switzerland

Q1FY24 Earnings Presentation June 2023 10

SJS| Q1FY24 Financial Performance (Consolidated)
Picking up pace…

13.6% • Revenue* at Rs 1,172.5 Mn on account of 24.6% and 15.0% YoY growth in PV and
YoY growth 2W segment respectively - outperforming the underlying industry

12.8% • EBITDA* at Rs 313.8 Mn, EBITDA margins of 26.1%,

YoY growth

11.1% • Net Profit* at Rs 180.0 Mn, with a margin of 15.4%

YoY growth

• Overall Domestic sales clocked 8.4% YoY growth; on back of 13.6% & 14.5% YoY
growth in PV & 2W segment respectively - outperforming the underlying industry

11
Q1FY24 Earnings Presentation 11 June 2023
 SJS| Consolidated P&L Performance

Particulars Q1FY24
Q1FY24 Q1FY23 YoY% Q4FY23 QoQ% YoY%
(INR in Mn) Proforma1
Operating Revenue 1172.5 1031.7 13.6% 1065.7 10.0% 1528.7 48.2%

EBITDA 313.8 278.2 12.8% 271.8 15.5% 426.5 53.3%

EBITDA Margin % 26.1% 26.4% 24.8% 27.3%

Reported PAT 180.0 162.1 11.1% 153.8 17.0% 246.5 52.1%

PAT Margin % 15.4% 15.7% 14.4% 16.1%

EPS 5.90 5.33 10.8% 5.05 16.7% 8.082 51.8%

• Q1FY24 financials indicate 13.6% YoY revenue growth and PAT growth of 11.1% YoY, leading to 10.8% YoY growth in EPS

• However, Q1FY24 Proforma (incl WPI) financials indicate 48.2% YoY revenue growth and PAT growth2 of 52.1% YoY, leading
to 51.8% YoY growth in EPS2

• Q1FY24 Proforma EPS2 is 37.0% higher than Q1FY24 Reported EPS, highlighting that addition of WPI is EPS accretive

Note: 1) Q1FY24 Proforma includes 90.1% consolidation for WPI (as per Indian GAAP); 2) PAT & EPS for Q1FY24 Proforma does not include interest
cost of acquisition which will be effective from Q2FY24 onwards. Had the effect of lower Other Income and higher interest cost on loan for WPI 12
Q1FY24 Earnings Presentation 12 June 2023
acquisition been effective in Q1FY24, it would have led to a Q1 Proforma EPS growth of ~21% over Q1FY24 Reported EPS
Future Growth Outlook
SJS | One stop aesthetics solution provider
Transforming SJS with a well diversified product suite addressing every requirement of varied customer base

Rs 1200 –
1500
PV (Interior View) Per vehicle
Legacy Kit
Value

3 - 4x
growth
Per vehicle
Future Kit
Value

14
Q1FY24 Earnings Presentation June 2023
SJS | One stop aesthetics solution provider
Transforming SJS with a well diversified product suite addressing every requirement of varied customer base

PV (Exterior View)

15
Q1FY24 Earnings Presentation June 2023
SJS | One stop aesthetics solution provider
Transforming SJS with a well diversified product suite addressing every requirement of varied customer base

Rs 300 - 500
Per vehicle
Two Wheeler

Legacy Kit
Value

1.5 - 2x
growth
Per vehicle
Future Kit
Value

16
Q1FY24 Earnings Presentation June 2023
SJS | One stop aesthetics solution provider
Transforming SJS with a well diversified product suite addressing every requirement of varied customer base

Rs 50 - 150
Per appliance

Legacy Kit
Value

3 - 4x
growth
Per appliance
Future Kit
Value
Consumer Appliances

17
Q1FY24 Earnings Presentation June 2023
SJS| Organic growth expected at ~20-25% CAGR, with best-in-class margins
Strategy for organic growth over FY24-26

Exports : Increasing global presence

• Penetrate deeper in existing geographies and enter new geographies
• Strong focus on expanding presence in ASEAN
• Strengthening our sales force in Turkey, Brazil, Argentina and Columbia and exploring similar opportunities in other countries

Products : Focus on development of new technologies & advanced products

• Intend to develop and introduce Illuminated logos, In Moulded Electronic (IME) parts and other new gen technologies
• Continue to build capabilities to innovate & develop new products & increase application of products across industries

Key Customers : Growing mega accounts

• Building mega accounts with existing customers by expanding the array of products
• Increase customer base by marketing existing products to new customers and explore cross selling opportunities between SJS and Exotech

Chrome Plating : Increase chrome plating capacity through debottlenecking and partnerships
• Increasing capacity at the existing plant through debottlenecking and partnering with external chrome plating manufacturers
• Greenfield chrome plating expansion plan to be finalized in CY24 after assessing synergies with neighbouring WPI plant

18
Q1FY24 Earnings Presentation June 2023
SJS| Inorganic Growth Expected to Boost Organic Growth Trajectory
Merger & Acquisitions Strategy

Build capability in adjacent / new aesthetic

product categories
SJS successfully integrated Exotech Identified key product categories to enter / expand
business and demonstrated credible presence which include:
business improvement in Exotech’s • IMD / IML
performance: • IME (In-Mould Electronics)
• Plastic injection moulding
• 20.0% YoY growth in Revenue,
increasing from Rs 298.3 Mn to Rs SJS will continue Expand presence in consumer related
356.7 Mn in Q1FY24. ahead with more
business accretive
industries
• Cost synergies & efficiency resulted in acquisitions & the Enter new segments and expand presence in other
Exotech EBITDA margin expansion rationale for it consumer related industries targeting
by 145 bps YoY from 12.0% in will be: • Appliance manufacturers
Q1FY23 to 13.5% in Q1FY24. • Consumer electricals

• Continuous improvement Enter new geographies / OEMs for chrome

initiatives led to a cumulative plating
expansion in EBITDA margins by • Expand presence in chrome plating (largest segment)
~300 bps from FY211 to FY23. and increase cross selling opportunities
• Overcome logistics cost as bulky parts
• Provides direct entry into OEMs to support cross
selling opportunities

WPI to aid in revenue growth acceleration and will be EPS accretive from FY24 itself

19
Q1FY24 Earnings Presentation June 2023
Note: 1) FY21 EBITDA Margins is excluding one time gain on sale of land to the extent of Rs 53.83 Mn
SJS| FY24 Outlook
▪ SJS will continue to outperform the industry with gradual recovery in exports and domestic 2W markets
▪ SJS expects over 50% YoY revenue growth on account of expected positive outlook for 2W, PV and Consumer Durables
▪ Premiumisation + New Customer Wins + Exports + WPI Acquisition = Higher than industry sales growth for SJS
▪ High visibility : Current order book to be executed in FY24 is over 90% of FY24 forecasted revenue
▪ SJS expects WPI acquisition to be significantly EPS accretive in current year itself. WPI would add incremental scale to SJS given
WPI’s EBITDA is approximately one-third of SJS’ EBITDA
▪ Robust margin profile of business and WPI acquisition to drive PAT growth of ~40% YoY for FY24 as we balance higher growth with
margins

Q1FY24 Performance (INR Mn) YoY Growth %

• Continue to maintain best-in-class margins
Revenue 1,172.5 13.6%
EBITDA* 313.8 12.8% • Strong cash flow generation leading to cash
EBITDA margin 26.1% and equivalents balance of Rs 2,849.7 Mn in
Q1FY24
PAT * 180.0 11.1%
PAT Margin 15.4%

20
Q1FY24 Earnings Presentation June 2023
 SJS Enterprises Limited
Q1FY24 Earnings Call Invite
SJS Enterprises Limited (BSE: 543387) announced its results for the quarter ended June 30, 2023, on July 26th, 2023. Following the
announcement, the management team will host a conference call for investors and analysts on July 27th, 2023, at 11:00 AM IST. The
call will commence with a brief discussion on the previous quarter’s performance followed by an interactive question and answer
session. Call details are below:

Date 27th July, 2023

Time 11:00 AM IST | 01:30 PM HK/SG | 06:30 AM UK (London) | 01:30 AM EST USA
Duration 60 minutes
Universal Dial in +91 22 6280 1366 | +91 22 7115 8267
International Toll Free HK: 800 964 448 | SG: 800 101 2045 | UK: 0 808 101 1573 | USA: 1 866 746 2133
Diamond Pass Link Diamond Pass Registration (choruscall.in)

Note: Please dial in at least 10 minutes prior to the schedule to ensure that you are connected in time. Audio and transcript will be
available with in ten working days after the call on Investors page of company website (www.sjsindia.com).

For further information, please contact: Devanshi Dhruva | devanshi@sjsindia.com

Q1FY24 Earnings Presentation June 2023 21
 THANK YOU

IR Contact
Ms. Devanshi Dhruva | Head - Investor Relations
devanshi@sjsindia.com
Appendix
SJS| Longstanding history of design backed manufacturing excellence
Evolution into a leading design and aesthetics focused business
2023
Walter Pack India
2021 Acquired 90.1% stake in
WPI. Focused on IMF,
Exotech Plastics IML, IMD and IME
2019-20 Acquisition completed technologies for
to further complement automotive and appliance
Introduced premium / product suite with
sectors
technologically addition of chrome
2018 products
advanced products
(formed dials, Optical
New
plastics, lens mask
manufacturing
2015-17 facility
assemblies) and
expanded PV customer
commissioned with
Entry into new base with new product
2015 product lines -
225,000 sq.ft. area
range
and significant
IMD parts,
2010-14 Everstone Capital
aluminum & electro
capacity boost
acquired a majority formed badges
New product stake; exit by
addition in Serigraph
2006 premium
segment – 3D
Joint Venture with Lux etc.
Serigraph, a US
1987 based commercial
SJS founded printing player
by three
entrepreneurs

Q1FY24 Earnings Presentation June 2023 24

SJS| Diverse Product Portfolio…(1/2)
Decals & Body Graphics 2D Appliques & Dials Domes

3D Appliques & Dials 3D Lux Badges Aluminium Badges

25
Q1FY24 Earnings Presentation June 2023
SJS| Diverse Product Portfolio…(2/2)
Overlays Lens Mask Assembly Chrome plated parts

IMLs / IMDs Optical Plastics Aftermarket – “Transform”

Without Anti glare/ Anti Reflection

With Anti glare/ Anti Reflection

26
Q1FY24 Earnings Presentation June 2023
SJS| Superior financial metrics and resilient business model
Revenue from Operation (INR Mn) EBITDA (INR Mn) and EBITDA Margin (%)

5000.0 1,500.0 31.0% 31.2% 32.0%

4000.0 4330.5
30.0%
3698.6 1,000.0 1,167.8
3000.0 26.7% 985.3 28.0%
2000.0 2372.6 2516.2
26.4% 26.0%
2161.7 500.0 26.3%
1000.0 686.1 797.0
643.2 24.0%
0.0 - 22.0%
FY 19 FY 20 FY 21 FY 22 FY 23 FY19 FY20 FY21 FY22 FY23
EBITDA Margin

PAT (INR Mn) and PAT Margin (%) ROCE (%)

18.7% 18.7% 35
800.0 20.0%
15.6% 14.9% 15.5% 30 31.6 33.1
600.0 15.0% 25 28.3 27.1
26.4
20
400.0 10.0% 15
672.5
477.6 550.2 10
200.0 376.0 412.9 5.0% 5
0
- 0.0%
FY 19 FY 20 FY 21 FY 22 FY23
FY19 FY20 FY21 FY22 FY23
PAT Margin
27
Q1FY24 Earnings Presentation June 2023
Note: FY22 and FY23 figures consolidated for SJS and Exotech (Reported financials)
 SJS| Experienced & Qualified Board & Management Team
K A Joseph
Managing Director – Promoter & Co-founder Ramesh Chandra Jain
Non-Exec Chairman & Independent Director
❖ More than 34 years of experience in aesthetics printing business
❖Worked for 25 years in Eicher & retired as group vice chairman
❖ Leads the manufacturing operations for the Company and has
spearheaded technological and product innovation over the years ❖Received the Society of British Aerospace Companies Prize in Aircraft
Production ,1972-73 from the Cranfield University,
❖ Also a director on the board of Exotech

Sanjay Thapar Kevin K. Joseph Matthias Frenzel

Executive Director and CEO Executive Director Non-Executive & Independent Director
❖ Over 30 years of experience in the auto industry ❖ Holds a bachelor’s degree in mechanical ❖ Previously worked with Visteon Electronics
Board of Directors

❖ Previously Group Chief Strategy Officer with engineering Germany GmbH, S-Y Systems Technologies
Ashok Minda Group; MD of Minda Valeo Security ❖ Previously worked with Tata Elxsi Limited as Europe GmbH and Johnson Controls GmbH
Systems
a senior design engineer

Vishal Sharma Kazi Arif Uz Zaman Veni Thapar

Nominee Director Nominee Director Non-Executive Independent Director
❖ MD - investments and operations with ❖ Ex-MD – private equity with Everstone ❖ Presently a partner of V K Thapar & Company,
Everstone Capital Advisors Private Limited Capital Chartered Accountants
❖ Previously worked with BCG India (1); Sapient ❖ Presently a partner of GestAlt Network ❖ Was on the board of Bank of India as a part-time,
Corp (now known as Publicis Sapient) non-official director under the CA (2) category
LLP

Mahendra Naredi R. Raju Sadashiva Baligar

Chief Financial Officer Chief Marketing Officer Chief Operation Officer
KMPs

❖ 20+ years of experience in financial ❖ Has over 22 years of experience in the ❖ Previously worked with Motherson
management and analysis, key field of marketing; Previously worked Automotive Technologies, Automotive
accounting and strategy. Previously with ITW India Limited, ITW Signode Manufacturers (Malaysia) SDN BHD,
worked in Minda Corp, Wipro & GE India Limited etc. Toyota Kirloskar etc.

Note: (1) BCG India – Boston Consulting Group (India) Private Limited; (2) Chartered Accountant 28
Q1FY24 Earnings Presentation June 2023