Slide 1: Hind Rectifiers Limited – Empowering Energy Solutions
Hind Rectifiers Limited Empowering Energy Solutions Investor Presentation – July 2025 1
Slide 2: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Hind Rectifiers 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 secu
Slide 3: Company Overview
Company Overview
Slide 4: Leader in Design & Development of Electrical & Electronic Equipment
Leader in Design & Development of Electrical & Electronic Equipment Founded in 1958, in technical collaboration with Westinghouse Brake & Signal Company Ltd. Advanced technologies with automated testing and Manufacturers of Highly specialized efficient operations driven by the Theory of and intricat
Slide 5: Journey So Far
Journey So Far • Approved the incorporation of a • Incorporated as a private limited company to • HRL became a key player in the railway • Expansion at Nashik, Satpur Plant subsidiary focused on developing take over the rectifier business from Kaycee sector by introducing traction converters cutting
Slide 6: Product Overview
Product Overview Product wise Revenue Mix – Q1 FY26 2.8% 5.4% Railway Systems 19.5% 50.4% Traction Traction Motors Traction & Auxiliary DC Substation Transformers Converters Rectifiers 21.9% Industrial Systems Product Wise Orderbook Mix –Q1 FY26 8.3% 1.3% 5th Gen. High Single & 3 Phase ESP SMPS Rect
Slide 7: Product Portfolio – Railway Systems
Product Portfolio – Railway Systems IGBT Traction Converter Railway Vehicle Control Unit Water cooled IGBT based, microprocessor VCU with multiple processor architecture controlled high-power electronic propulsion ensures locomotive's safe, coordinated converters up to 6000 HP for goods and operatio
Slide 8: Product Portfolio – Industrial Systems
Product Portfolio – Industrial Systems Single & 3 Phase ESP Power Supply SMPS Rectifiers Oil cooled, SCR controlled, 50 Hz switching Stackable DC power source, forced air cooled frequency, DSP microcontroller-based power HF transformer rectifier controlled by high supply up to 750 KVA frequency swit
Slide 9: Strategic Locations for PAN India Presence & Distribution
Strategic Locations for PAN India Presence & Distribution Products Manufactured Satpur Plant: Traction Transformers Electrostatic Precipitators (High Voltage Rectifiers) Thyristor Controlled Rectifiers, Water Cooled Rectifiers New Delhi Constant Current Rectifiers Loco Panels (SB1, SB2, HB1, HB2, Cu
Slide 10: R&D Synopsis
R&D Synopsis 01 Railway Propulsion and Traction Solutions company enhances its product portfolio with high power traction solutions for locomotives and EMUs, reinforcing its position as a leader in railway and transportation technology. 06 02 Market-Driven Development Approach Product Innovation The
Slide 11: Long Standing Relationships with Marquee Clients
Long Standing Relationships with Marquee Clients The Brand Names mentioned are the property of their respective owners and are used here for identification purposes only 11
Slide 12: Board of Directors
Board of Directors Mr. Suramya Nevatia Ms. Akshada Nevatia Mr. Vishal Pacheriwala Chairman, Managing Director & CEO Executive Director Independent Non-Executive Director ● Mr. Suramya graduated from H. R. College of Commerce & ● Ms. Akshada graduated in Psychology from S. P. College, Pune, ● Mr. Vis
Slide 13: Leadership Team
Leadership Team Mr. Suramya Nevatia Ms. Akshada Nevatia Mr. A. K. Nemani Mr. Lalit Tejwani Chairman, Managing Executive Director Chief Financial Officer Chief Strategy Officer Director & CEO ● Mr. Suramya graduated from H. R. College of Commerce & ● Ms. Akshada graduated in Psychology from S. P. Col
Slide 14: Industry Overview
Industry Overview
Slide 15: Industry Highlights
Industry Highlights • During FY25 so far, the progress in the expansion of the railway network stayed at levels comparable to the previous year, while the addition of rolling stock increased considerably between April and October 2024, 17 new pairs of Vande Bharat trains were introduced to the netwo
Slide 16: Recent developments in railways
Recent developments in railways Demand for total No of Loco Motives* • Net zero carbon emission: Indian Railways targets 30 GW of renewable energy by 2029-30, with 46,017 375 MW of solar and 103 MW of wind commissioned as of October 2024 • Major economic corridors: 434 projects valued at ₹11.17 lakh
Slide 17: Strategic Priorities
Strategic Priorities
Slide 18: Growth Drivers
Growth Drivers Favorable Industry Tailwinds ▪ Annual Capex Investments of ~35Billion USD by Indian Railways 01 and Metros with growth forecast of >8% YoY ▪ GoI’s focus on growth of manufacturing To Strengthensector, & specifically Market Place Unlocking Hidden electronics & electrical products Grow
Slide 19: Way Forward…
Way Forward… ▪ Expand manufacturing capacities at Nashik and optimize production space for new product lines Strengthening Manufacturing Capacity ▪ Improve backward integration strategies for cost efficiency and quality control ▪ Develop new propulsion systems and related technologies to cater to th
Slide 20: Financial Highlights
Financial Highlights
Slide 21: Management Commentary
Management Commentary Commenting on the performance Suramya Nevatia, Chairman, Managing Director & CEO of Hind Rectifiers Limited said, “We are pleased to report a strong start to FY26, continuing the momentum of the previous year. In Q1 FY26, we achieved 58.5% YoY revenue growth, reaching INR 214.8
Slide 22: Key Operational Highlights – Q1 FY26
Key Operational Highlights – Q1 FY26 • Robust order book at INR 1,025 crore as of 30th June 2025, primarily driven by railway sector expansion and government initiatives • Secured two notable orders amounting to INR 127 Crores and INR 101 crores respectively from Indian Railways for locomotive produ
Slide 23: Orderbook Position as on 30th June 2025
Orderbook Position as on 30th June 2025 Driving Success Through a Growing Order Book (INR cr) Orders Wins in Q1 FY26 1,025 893 • Won INR 127 crore supply order for electrical components and equipment from Indian Railways, to be executed by FY 2026-27 534 368 • Additional order of INR 101 crore from
Slide 24: Interim Financial Snapshot
Interim Financial Snapshot (INR cr) Revenue from operations EBITDA EBITDA Margins +58.5% +66.9% +60 bps 214.8 24.2 11.3% 185.0 10.7% 10.8% 19.9 135.5 14.5 Q1 FY25 Q4 FY25 Q1 FY26 Q1 FY25 Q4 FY25 Q1 FY26 Q1FY25 Q4FY25 Q1FY26 PAT PAT Margins +80 bps +85.5% 5.9% 12.8 5.4% 5.1% 10.0 6.9 Q1 FY25 Q4 FY25
Slide 25: Quarterly Profit and Loss Statement
Quarterly Profit and Loss Statement Particulars (INR Cr) Q1 FY26 Q1 FY25 Y-o-Y (%) Q4 FY25 Q-o-Q (%) Revenue from operations 214.8 135.5 58.5% 185.0 16.1% COGS 158.6 97.2 137.0 Gross Profit 56.2 38.3 46.6% 48.0 17.1% Gross Profit Margin 26.2% 28.3% 26.0% Employee Expenses 18.9 14.3 17.3 Other Expens
Slide 26: Historical Financials
Historical Financials
Slide 27: Financial Snapshot
Financial Snapshot (INR cr) Revenue from operations EBITDA EBITDA Margins 655.4 CAGR:+21% 70.3 517.6 +430 Bps 10.7% CAGR:+38% 8.5% 372.1 359.1 44.2 305.1 6.4% 6.0% 22.2 4.2% 19.5 15.1 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 PAT ROCE* ROE** 23.4% 26.2% 37.1 17.2% CA
Slide 28: Profit & Loss Account
Profit & Loss Account Particulars (INR Cr) FY25 FY24 FY23 FY22 FY21 Revenue from operations 655.4 517.6 359.1 372.1 305.1 COGS 478.3 384.3 279.6 288.3 235.7 Gross Profit 177.1 133.2 79.5 83.8 69.4 Gross Profit Margin 27.0% 25.7% 22.1% 22.5% 22.8% Employee Expenses 63.3 52.3 39.1 36.6 32.7 Other Expe
Slide 29: Balance Sheet Statement
Balance Sheet Statement Assets (INR Cr) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Liabilities (INR Cr) Mar-25 Mar-24 Mar-23 Mar-22 Mar-21 Non-Current Assets Equity Property, Plant and Equipment 86.6 76.8 72.7 40.0 35.6 Equity Share capital 3.4 3.4 3.4 3.3 3.3 Capital work-in-progress 6.8 8.2 6.9 17.7 8.7 O
Slide 30: Cashflow Statement
Cashflow Statement Particulars (INR Cr) FY25 FY24 FY23 FY22 FY21 Net Profit Before Tax* 50.1 17.7 -8.7 11.2 7.4 Adjustments for: Non-Cash Items / Other Investment or Financial Items 35.7 30.6 23.9 11.2 12.3 Operating profit before working capital changes 85.8 48.3 15.2 22.4 19.7 Changes in working c
Slide 31: Contact Information
Contact Information Company : Investor Relations Advisor : Strategic Growth Advisors Pvt. Ltd. Hind Rectifiers Limited CIN: U74140MH2010PTC204285 CIN: L28900MH1958PLC011077 Mr. Nitin Agarwal / Mr. Karan Thakker Ms. Meenakshi Anchlia E: investors@hirect.com E: nitin.agarwal@sgapl.net / karan.thakker@