Slide 1: Revised Investor Presentation (Errata) cover letter
www.ideaforgetech.com August 09, 2023 To, To, BSE Limited The National Stock Exchange of India Phiroze Jeejeebhoy Towers, Dalal Street, Limited “Exchange Plaza”, Bandra – Kurla Fort, Mumbai – 400 001. Complex, Bandra (EAST), Mumbai – 400 051 BSE Scrip Code: 543932 NSE SYMBOL: IDEAFORGE Subject: Revi
Slide 2: Q1FY24 Investor Presentation
Q1FY24 Investor Presentation August’23
Slide 3: Disclaimer
Disclaimer This presentation has been prepared by and is the sole responsibility of ideaForge Technology Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation o
Slide 4: ideaForge – At a Glance
ideaForge – At a Glance #1 50% #7 1st Pioneer & A Market Leader Market Share Ranked No. 7 Organisation to Ranked No. 1 in India (FY 22) (FY22) in India Globally in dual indigenously develop use case1 VTOL UAVs 375,000+ 5 mins > 120,000 62 Operational metrics Flights completed by ideaForge drone Flig
Slide 5: Q1FY24 Financials
Q1FY24 Financials 4 www.ideaforgetech.com
Slide 6: Q1FY24 Performance Highlights
Q1FY24 Performance Highlights Revenue from Profit Before Tax Profit After Tax EBITDA Operations (PBT) (PAT) Rs. 970.7 Mn Rs. 284.9 Mn Rs. 250.7 Mn Rs. 188.6 Mn +151.1 % Margin 29.4% Margin 25.8% Margin 19.4% (Q-o-Q) Key Highlights ü Successfully delivered a large batch of SWITCH UAVs to a defence cu
Slide 7: Q1FY24 Key Performance Metrics
Q1FY24 Key Performance Metrics Revenue from Operations Gross Margins & Gross Margin (%) Adjusted EBITDA & EBITDA Margin* (%) 68.4% 74.3% 62.9% 55.5% 31.0% 55.5% 3.1% 29.4% 1,860 1,271 575 551 +151.1% +2,274.2% 738 +121.7% 993 971 285 539 387 243 12 FY23 Q1FY23 Q4FY23 Q1FY24 FY23 Q1FY23 Q4FY23 Q1FY24
Slide 8: Consolidated Profit & Loss Statement – Q1FY24
Consolidated Profit & Loss Statement – Q1FY24 Profit & Loss Statement (Rs. Mn) Q1FY24 Q1 FY23 Y-o-Y Q4 FY23 Q-o-Q Revenue from Operations 970.7 992.7 -2.2% 386.6 151.1% Cost of Materials Consumed 133.3 196.0 452.2 Purchase of stock-in-trade 0.0 0.0 0.0 Changes in Inventories of Finished Goods and Wo
Slide 9: Company Overview
Company Overview 8 www.ideaforgetech.com
Slide 10: ideaForge – In a nutshell
ideaForge – In a nutshell 1 Industry poised to grow by ~ 18x over the next 5 years1 2 Pioneer and market leader in the Indian UAS industry2 Winner of largest mini-VTOL UAV contract against global competitors and having largest operational deployment of UAVs across 3 India1 and successfully delivered
Slide 11: History and Evolution
History and Evolution 2004-07 2014-17 2022-23 • Promoters built the first • Received Rs 338 mn capital contract from • Won largest mini-VTOL UAV quadrotor drone (in India) to GOI contract against global enter a college fest* competitors • Developed first hybrid VTOL with fixed • Incorporation of the
Slide 12: ideaForge Capability- Design to Delivery
ideaForge Capability- Design to Delivery Product Managing Supply Manufacturing Development Testing Packaging After Sales Chain Facilities Centre 132 employees2 Focusing on Advance equipment • ESS Chamber • Easily Portable • ideaForge “Care” Continuous Product Cost and automation • Vibration table •
Slide 13: Industry Opportunity
Industry Opportunity 12 www.ideaforgetech.com
Slide 14: Drone Industry
Drone Industry 1 Categories of Drones globally 2 Dual Usage of Drones – Defence and Civil 3 Drone Regulations 4 Market Opportunity in Drones 13
Slide 15: Categories of Drone Globally
Categories of Drone Globally Inspections Mapping Logistics UAM Surveillance Altitude (Above Ground Level (AGL)) 200000 m HAPS 11000 m HALE 5000 m MALE Tactical 3000 m Small / Mini 100 m 300 m 1000 m Micro Middle Mile Last Mile Logistics Nano 0 2 km 15+ km 50+ km 200+ km 500+ km 1000+ km Launch Pad 1
Slide 16: Global Drone Market Segmentation – Application & Use Case
Global Drone Market Segmentation – Application & Use Case By Application By Use Case Global Drone Market Application Defence Civil Surveillance Enterprise Logistics Consumer Passenger Mapping GIS, Construction & Oil & Gas Utilities Recreational Real Estate Inspection Counter Drone Agriculture Mining
Slide 17: Use cases – Drones in Defence
Use cases – Drones in Defence Border Surveillance Reconnaissance Sniping Insertion Swarming/ Electronic Encirclement warfare Surveillance Night-time Surveillance Logistics Barrier Deterrence Combat Patrolling Distraction Extraction Offensive Tactics Defensive Tactics Outputs generated from ideaForge
Slide 18: Use cases – Drones in Civil (1/2)
Use cases – Drones in Civil (1/2) Logistics Public Safety • India : Life-saving medicines • India : Delhi police used drones during /vaccines delivery in Telangana assembly elections & riots in the city • Global : Used to transport test • Global : Police dept. & public safety agencies 06 01 samples
Slide 19: Use cases – Drones in Civil (Sample output) (2/2)
Use cases – Drones in Civil (Sample output) (2/2) Mapping of Agricultural Land for Up-to-Date Multi-Spectral Mapping for Precision Land Records Agriculture Railway Track Mapping Urban Planning & Property Tax Collection 18 Outputs generated from ideaForge drones
Slide 20: Overview – Drone regulatory environment by Geography
Overview – Drone regulatory environment by Geography • With recent liberalization of drone guidelines, market more accessible to drone start-ups and international investors • Aim to attract global investment of Approx. US$ 600M in drone manufacturing industry and to create over 10,000 job opportunit
Slide 21: Regulatory Tailwinds in Indian Drone Market
Regulatory Tailwinds in Indian Drone Market BAN ON IMPORT • In February 2022, DGFT issued an order to ban the import of drone except used for R&D, defence and security • Expanding market for China’s SZ DJI Technology Co (leading drone manufacturer) were essentially closed off • Encouraged the develo
Slide 22: Large Addressable Global Drone Market Growing at 20%
Large Addressable Global Drone Market Growing at 20%1 Enterprise Segment CY22 size / CAGR* CAGR 11% Global drone market size $ Bn 1 Defense GIS, Construction & $ 4.2 Bn / 17% $ Bn CAGR 23.0 Real estate 17.1 20% 10.1 CY22E CY27P CY30P CAGR 20% CAGR 19% Public safety $ 1.1 Bn / 17% 91.3 2 Enterprise 7
Slide 23: Indian Drone Market set to grow by >18x over 5 years
Indian Drone Market set to grow by >18x over 5 year Indian drone market size key trends and growth drivers USD Mn Key Trends and Growth Drivers 812 • Drone Regulation • Better quality of data Market expected to grow >18x over 5 years • Make in India • Micro-entrepreneurs using drone services • Growi
Slide 24: Advantage ideaForge
Advantage ideaForge 23 www.ideaforgetech.com
Slide 25: Pioneer and market leader in the Indian UAS industry
Pioneer and market leader in the Indian UAS industry1 2 Capabilities Key Differentiators In-house Design Fully integrated Continuous innovation & First mover Indigenously developed > A decade’s experience to Delivery systems technology improvement advantage & manufactured operationalizing UAVs Marke
Slide 26: End-to-end Design to Delivery capabilities
End-to-end Design to Delivery capabilities Product Design & Software & embedded Development systems • Design, develop and engineer UAVs BlueFire Touch (Ground Control System) in-house • Pre-plan and command both mapping & • 116 employees in product surveillance missions. development centre Autopilot
Slide 27: Strong customer relationships with repeat business
Strong customer relationships with repeat business Long standing relationship with Government Departments, Defense forces and Indian companies Defence 265 Oman / USA Customers1 Existing presence Indian Defence Forces Civil Expanding to Disaster Central armed Repeat Bangladesh / Vietnam management Pr
Slide 28: Key Management Team
Key Management Team Ankit Mehta Rahul Singh Ashish Bhat CEO VP-Engineering VP-R&D • Promoter of the Company • Promoter of the Company • Promoter of the Company • Associated with Company since • Associated with Company since • Associated with the Company incorporation incorporation since incorporatio
Slide 29: Experienced Board of Directors
Experienced Board of Directors Srikanth Velamakanni Mathew Cyriac Chairman & Independent Director Non-Executive Nominee Director Associated with Fractal Analytics as co-founder Previously associated with Blackstone Advisors, DLJ Merchant Banking, Bank of America & Credit Suisse Ankit Mehta CEO and W
Slide 30: Way Forward
Way Forward 29 www.ideaforgetech.com
Slide 31: Way Ahead – Strategies (1/2)
Way Ahead – Strategies (1/2) Expand product portfolio and cater to new end use Expand business services & software revenue applications & industries through ‘as a service’ offerings Altitude (Above Ground Level (AGL)) Drone as a Service 100 m300 m 1000 m 3000 m 5000 m 11000 m (FLYGHT Docks) Tactical
Slide 32: Other Strategies
Other Strategies Expanding to International Market Indigenization (PLI Scheme) USA Oman Acquisition Opportunities 31
Slide 33: Historical Financials
Historical Financials 32 www.ideaforgetech.com
Slide 34: Track record of delivering profitable growth (FY21-FY23)
Track record of delivering profitable growth (FY21-FY23) Revenue from Operations Revenue-Mix Gross Margins & Gross Margin (%) Rs Mn FY23 Rs Mn 1,860 74% 1,594 9% 68% 1,182 47% 1,271 21% 347 69% 164 Defence Civil PLI FY21 FY22 FY23 FY21 FY22 FY23 Adjusted EBITDA & EBITDA Margin1 (%) PAT & PAT Margin
Slide 35: Restated Statement of Assets and Liabilities
Restated Statement of Assets and Liabilities Particulars (Rs. Mn) Mar-21 Mar-22 Mar-23 Particulars (Rs. Mn) Mar-21 Mar-22 Mar-23 ASSETS EQUITY AND LIABILITIES Non-current assets Equity (a) Property, Plant and Equipment 9 22 82 Equity Share capital 1 1 213 (b) Right of Use Assets 5 108 156 Instrument
Slide 36: Restated Statement of Profit and Loss
Restated Statement of Profit and Loss Particulars (Rs. Mn) FY21 FY22 FY23 Revenue from operations 347 1,594 1,860 Other Income 16 20 104 Total Revenue 363 1,614 1,964 Expenses: a) Cost of materials consumed 221 514 957 b) Changes in inventories of FG and WIP (38) (102) (369) c) Employee benefits exp
Slide 37: Restated Statement of Cash Flow (1/2)
Restated Statement of Cash Flow (1/2) Particulars (Rs. Mn) Mar-21 Mar-22 Mar-23 (A) CASH FLOWS FROM OPERATING ACTIVITIES Profit/(Loss) before tax : (145) 502 408 Adjustments for: Depreciation and Amortisation Expense 36 73 119 Interest on MSME 0 1 1 Changes in fair value of financial assets at fair
Slide 38: Restated Statement of Cash Flow (2/2)
Restated Statement of Cash Flow (2/2) Particulars (Rs. Mn) Mar-21 Mar-22 Mar-23 (B) CASH FLOWS FROM INVESTING ACTIVITIES: Purchase of Property, Plant and Equipment (90) (135) (331) Investment in mutual funds (net) 119 (103) (1,093) Investment in Equity instrument (10) Proceed from sale of PPE - 0 -
Slide 39: Delivering Value to Stakeholders-Magnificent listing!
Delivering Value to Stakeholders-Magnificent listing! Overwhelming subscription of over 106 times, One of the best IPO subscription in nearly two years, made a tremendous entry into the market with listing day gain of 93% July 2023 IPO Subscription Category Times Subscribed § Listing done on BSE & N
Slide 40: Thank you
Script Code- BSE: 543932 NSE: IDEAFORGE Thank you Company: ideaForge Technology Limited Investor Relations: Orient Capital Name: Vipul Joshi- Chief Financial Officer Name: Irfan Raeen/ Parth Patel Email: Irfan.Raeen@linkintime.co.in / Email: business@ideaforgetech.com Parth.patel@linkintime.co.in CI