Walchandnagar Industries Limited · NSE:WALCHANNAG

Walchandnagar Industries — Investor Presentation (October 2024)

40 slides from Walchandnagar Industries's investor presentation, Oct 27, 2024

1. Slide 1: Regulation 30 cover letter to stock exchanges

   Ref. No. : WIL: SEC: 2024 Date : October 27, 2024 National Stock Exchange of India Ltd BSE Ltd. Corporate Action Department Corporate Relations Department Exchange Plaza, 5th floor, 1st floor, New Trading Ring, Plot No. C/1, G Block, Rotunda Bldg P.J. Tower, Bandra Kurla Complex, Bandra (East) Mumba

2. Slide 2: Walchandnagar Industries Limited Corporate Presentation

   Walchandnagar Industries Limited Corporate Presentation

3. Slide 3: Seth Walchand Hirachand, Visionary Industrialist & Founder

   ƒŽ Šƒ†ƒ‰ƒ”Ȃ ‰‹‡‡”‹‰‘‘””‘™ǡ‹•’‹”‡†„›‡†—”‹‰Ž‡‰ƒ › Seth Walchand Hirachand (1882-1953), Visionary Industrialist & Founder A remarkable Indian industrialist, and founder of Walchandnagar Industries Limited (WIL) with the belief that India has the potential to become a world leader He strived to

4. Slide 4: Walchandnagar Industries revenue breakup FY24

   ‡ƒ†‡”•Š‹’’‘•‹–‹‘‹Š‹‰Š‰”‘™–Š„—•‹‡••‡•ǥ Revenue Breakup (FY 24) (₹ Cr) Walchandnagar Industries Other Business 7.9% DNA Hi-Tech Engineering 26.5% Manufacturing Business Foundry 25.2% DNA 302 Process OEM (High growth Equipment (Stable business) potential) 40.3% OEM Gearboxes Defence Long standing re

5. Slide 5: High-precision manufacturing and stringent technical prequalification

   ‹–ŠŠ‹‰Š–”›ƒ””‹‡”•ǥ Significant initial capex and working Long lead times with irregular orders capital required to seize future but substantial growth potential across opportunities cycles High-precision manufacturing Stringent technical prequalification capabilities for DNA standards for critical

6. Slide 6: Years of engineering excellence and key milestones

   —‹Ž†‘•–”‘‰ˆ‘—†ƒ–‹‘•ǥ 1000+ 100+ 50+ Years of Engineering Years of Propulsion Systems Supplied for Excellence association with DAE, NPCIL, Indian Missiles BARC, ISRO and MoD 4500+ 600+ 6500+ Centrifugal Machines Turnkey projects Gearboxes Installed Supplied Executed (EP Projects) Globally Critica

7. Slide 7: Board of Directors and Management Team

   ‡ƒ†„›š’‡”‹‡ ‡†‘ƒ”†‘ˆ‹”‡ –‘”•Ƭƒƒ‰‡‡––‡ƒ Board of Directors Chakor L. Doshi Chirag C. Doshi G. S. Agrawal Chairman Managing Director & CEO Whole Time Director & Company Secretary He has done B. Sc. (Mathematics Physics) from Bombay He has done B. A. (Economics) from University of Michigan, He has

8. Slide 8: Defence

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9. Slide 9: Select companies globally with high-precision Defence, Nuclear and Aerospace facilities

   ”‡•‡ ‡‹„—•‹‡••‡•™‹–Š—’”‡ ‡†‡–‡†‰”‘™–Š’‘–‡–‹ƒŽǥ • WIL is engaged in inherently sensitive and secretive missile, aerospace and nuclear programs of national importance • Given the rigorous prequalification requirements, competition in these industries is limited • Amongst select companies globall

10. Slide 10: Key strengths in the DNA segment

    •—’’‘”–‡†„›•–”‘‰‡š’‡”–‹•‡ƒ† —•–‘‡””‡Žƒ–‹‘•Š‹’• 1 2 3 4 5 WIL is one amongst the Excellent track record Adaptable and flexible major qualified With over 50 years of Engagement at the R&D particularly in quality, infrastructure, along with manufacturers in the DNA experience in manufacturing stage

11. Slide 11: Walchandnagar

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12. Slide 12: Government expenditure on defence in India

    —‰‡‹ ”‡ƒ•‡‹‡ˆ‡ ‡•’‡†‹‰‘˜‡”–Š‡›‡ƒ”• India moved to 3rd largest spender in 2022 from being the 9th largest defence spender in 2000 (Bn $) 81 77 (Source: Statista.com) 72 73 65 66 +458% 57 Government expenditure on 50 51 51 46 47 47 defence in India has grown 39 33 from ~ ₹ 71,000 Cr in 2001 28 23

13. Slide 13: Defence budget and manufacturing target

    ‡ƒ†„›‰‘˜‡”‡–•’‡†‹‰ • The Interim Budget for 2024-25 envisaged an 01 outlay of ₹6,21,541 Cr • The government has set a target of achieving defence manufacturing of ~ ₹1,75,000 Cr with 02 an allocation of ₹1,05,518 Cr has been designated for domestic capital procurement (Atmanirbhar Bharat) • The

14. Slide 14: WIL contributions to DRDO missile programs

    ǯ• ‘–”‹„—–‹‘•ƒ ”‘••ƒ™‹†‡ƒ””ƒ›‘ˆ’”‘Œ‡ –• Developed various processes, including Contributed to DRDO, in development, welding technology, for manufacture of manufacture and supply of aluminum alloy motor cases of missiles of Agni series bridge Kartik /CEASE Bridge Developed special manufacturing pro

15. Slide 15: Partnership with DRDO timeline

    ‘‰Žƒ•–‹‰ƒ••‘ ‹ƒ–‹‘™‹–Š †‹ƒǯ•‹••‹Ž‡’”‘‰”ƒ• 1980 1990 1991 Partnered with DRDO WIL was approached to The first missile of the for the development develop various Agni series was tested phase of India’s processes, for in 1991 with WIL as a ambitious missiles Agni manufacture of motor significant c

16. Slide 16: Missile programs supported by WIL

    ‹•’ƒ”–‘ˆƒŒ‘”‹–›‘ˆ–Š‡‹••‹Ž‡’”‘‰”ƒ•—†‡”™ƒ› WIL has played a key role in strengthening India's defence across land, air, and Partnered early with DRDO to advance indigenous defence infrastructure sea Contributed to tactical missiles, strategic articles, and critical equipment Supports India's push f

17. Slide 17: Most advanced ships to be built in India

    ‡ˆ‡ ‡‘’’‘”–—‹–‹‡•‰‘‹‰ƒŠ‡ƒ† ‘Most advanced ships to be built in India’: Defence ministry to clear mega ₹ 70,000 crore order for new stealth warships Walchandnagar Industries Limited 16

18. Slide 18: Nuclear

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19. Slide 19: Operational nuclear capacity and WIL supplies

    †‹ƒŠƒ•ʹʹ‘’‡”ƒ–‹‘ƒŽ— Ž‡ƒ”’Žƒ–•ƒ‘—–‹‰–‘͹ͶͺͲ Operational Capacity 7480 MW 22 OPERATIONAL REACTORS WIL Supplies to these Reactors Equipment Reactors Calandria 14 End Shield 3 Moderator Hx 4 Bleed cond 2 Hairpin Hx 1 FM Cooler 1 4460 MW 320 MW 2000 MW 18 2 2 PHWRs BWRs VVER Walchandnagar Industrie

20. Slide 20: Reactors under construction and commissioning

    ˜‡”ͳͲǡͲͲͲ‘ˆ’”‘Œ‡ –•ƒ”‡—†‡” ‘•–”— –‹‘ Under Construction WIL Supplies to these Reactors KAPP 4 :1x700 MW PHWR Equipment Reactors RAPP 7&8 :2x700 MW PHWR Calandria 2 MHEx 3 Under Commissioning WIL Supplies to these Reactors PFBR : 1x500 MW Equipment IHX, AHX, Core Catcher, Core Support Structure, D

21. Slide 21: Partnership with the Department of Atomic Energy

    ǯ•ƒƒŒ‘” ‘–”‹„—–‘”–‘ †‹ƒǯ•— Ž‡ƒ”‡”‰› ˆ”ƒ•–”— –—”‡ Partnered with the Department of Atomic Energy Collaborates with: NPCIL, BARC, Specializes in manufacturing and supplying core (DAE) for over 40 years BHAVINI equipment for nuclear power plants Pre-qualified to supply Class I nuclear Excels in pr

22. Slide 22: Nuclear Power: A vital element in the quest for Net Zero

    Nuclear Power: A vital element in the quest for Net Zero emissions Reliability: Nuclear energy is more reliable (dispatchable) than renewables like wind Features Nuclear Energy Renewable Energy and solar, generating energy consistently regardless of weather conditions Can generate 1500 MW in less th

23. Slide 23: Nuclear expected to contribute 25% of electricity requirement

    ƒ‹‰‹–ƒ‹’‘”–ƒ–•‘—” ‡‹‘—”’‘™‡”‹š Global Nuclear Power Generation (GW) • All India peak expected electricity demand and electrical energy requirement is 277.2 GW for 2026-27 and 366.4 GW for 2031-32 65 • India is committed to achieving the country's ambition of Net Zero Emissions by 2070 97 61 1

24. Slide 24: WIL's contributions to 700 MW reactors

    ‘™‡”Š‘—•‡‘ˆ‘’’‘”–—‹–›Ǧ ͹ͲͲ ǯ• WIL’s contributions Moderator Heat Exchanger Used in nuclear island cooling systems End Shield Used to prevent direct radiation field that comes from the reactor’s core region Hairpin Heat Exchanger A heat exchanger is a system used to transfer heat between a source an

25. Slide 25: Small Modular Reactors

    ‡ƒ†‹‰–Š‡™ƒ›Ǧ ‘ ǯ• ˆ‘ —•‘Šƒ”ƒ–ƒŽŽ‡ƒ –‘”• ȋȌ Walchandnagar Industries Limited 24

26. Slide 26: Small Modular Reactors and Bharat Small Reactors

    †‹ƒǯ•‘•–‘’‡–‹–‹˜‡‡••Ƭ”‘˜‡”ƒ ‡ ‘”†‹ǯ• Small Modular Reactors Capacity MWe Cost per Reactor Cost per MWe BSR / Indigenous Steam Generator (14 Operating Plants- Proven 220 3,960 ~18 cr Technology) SMR / Rolls Royce Calandria (Will be operational around 470 19,800 42 cr 2030-31- Untested Technolog

27. Slide 27: WIL qualifies for ~Rs 700 crores of equipment per plant

    š’‘‡–‹ƒŽ‰”‘™–Š‘’’‘”–—‹–›‹ȋʹʹͲȌ (₹ Cr) WIL qualifies for ~Rs 700 crores worth of equipment per plant Walchandnagar Industries Limited 26

28. Slide 28: Nuclear capacity building up

    ‘–Š͹ͲͲƒ†•ƒ††‹‰–‘ †‹ƒǯ•— Ž‡ƒ”’‘™‡”‰”‘™–Š Nuclear Capacity Building up (MW) 36,380 11,000 11,200 6,700 7,480 Existing Projects 700MW Bharat Small Cummulative Capacity Under PHWR Reactor Potential Construction Fleet Mode Capacity Walchandnagar Industries Limited 27

29. Slide 29: Nuclear waste management market

    ”‘™–Š’’‘”–—‹–‹‡•‹— Ž‡ƒ”ƒ•–‡ƒƒ‰‡‡– 01 02 03 The global nuclear waste management market size The global nuclear waste management market is With the increasing number of nuclear facilities, more surpassed $ 4.87 billion in 2023 and is estimated to segmented by waste type: high-level waste (HLW), a

30. Slide 30: Aerospace

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31. Slide 31: India's space program achievements and plans

    †‹ƒǯ•‡”‘•’ƒ ‡ ”‘™–Š”‹˜‡”• Recent achievements such as the successful launch of Chandrayaan-3, Aditya-L1 and Mangalyaan have strengthened India's global space standing The Indian government has committed ₹ 20,193 Cr for future space exploration projects India plans to increase space launches fourfol

32. Slide 32: Association with ISRO timeline

    ˜‡”ͷͲ‡ƒ”•‘ˆ‘ŽŽƒ„‘”ƒ–‹‘™‹–Š 1973 1980 1985 1987 2003 2006 2008 2013 2014 2019 2020 2022 2023 Association with Manufacturing Manufacturing for Hardware manufactured S 200 supplied Hardware Manufactured ISRO commences commences for S 200 commences at WIL was part of by WIL was part manufacturing for c

33. Slide 33: Sub-assembly parts for PSLV, GSLV and SSLV

    “—‹’‡–ǯ•ƒ—ˆƒ –—”‡†„› WIL provides sub-assembly parts for PSLV, GSLV, & SSLV Crew Escape System (CJM , HEM & LEM ) S200 Strap-on Booster Motor Flex Nozzle Control (FNC) Tanks Nozzle Divergent Hardwares Human Rated Launce Vehicle (GSLV MKIII Derived) Walchandnagar Industries Limited 32

34. Slide 34: Chandrayaan and Mangalyaan contributions

    ‘–”‹„—–‡†–‘”‡•–‹‰‹‘—•‹••‹‘•Ǧ Šƒ†”ƒ›ƒƒƒ†ƒ‰ƒŽ›ƒƒ 1 Chandrayaan I 2 Chandrayaan III 3 Mangalyaan Contributed significantly to India’s Provided critical components for Contributed to India's first mission lunar missions the successful lunar mission to Mars Walchandnagar Industries Limited 33

35. Slide 35: Motor casings and segments for launch vehicles

    ”‹–‹ ƒŽ‘’‘‡–•ƒ—ˆƒ –—”‡† Head End Segment (LVM3) Nozzle End Segment (LVM3) PSO XL Motor Casing(PSLV) S200 PPT Set-Up Head End Segment (PSLV)) Nozzle End Segment (SSLV) Walchandnagar Industries Limited 34

36. Slide 36: 1.2-meter Trisonic Wind Tunnel

    ‘–”‹„—–‡†–‘ †‹ƒǯ• ‹”•–”‹•‘‹ ‹†—‡Ž Partnered with M/s Aiolos Manufactured key components Played a pivotal role in Engineering Corporation, Assembled and Installed all the such as Settling Chamber manufacturing several critical Canada in the design and critical sub-assemblies to meet Flexible No

37. Slide 37: ISRO partnership and manufacturing capabilities

    ‹“—‡ƒ’ƒ„‹Ž‹–‹‡•‹‡”‘•’ƒ ‡ Actively manufactures booster WIL's equipment has been WIL's partnership with ISRO began motor casings and nozzles for successfully utilized in launching in 1973 with the manufacturing of various ISRO programs, including satellites such as ROHINI, SROSS, motor cases for SL

38. Slide 38: Other businesses: Process Equipment, Gear, Centrifugal, Instrumentation, Foundry

    ”‘ ‡••“—‹’‡–Ƭƒ—ˆƒ –—”‹‰‘Ž—–‹‘• Process Equipment Gear Centrifugal Instrumentation Foundry o Manufacturer of Heat o Manufacturer of high speed, o Pioneer in the field of o The Instrumentation o Operates a Grey and Ductile Exchangers, Large diameter low speed, planetary as well manufacturing and

39. Slide 39: Unprecedented industry growth prospects

    –”‘‰ ”‘™–Š‡˜‡”•‹–Š‡D‡ˆ‡ ‡N— Ž‡ƒ”ƒ†A‡”‘•’ƒ ‡—•‹‡•• Stringent quality requirements, high High Entry Barriers precision manufacturing and past track record key for qualification The government is expediting support for Accelerated these sectors through hiked budgetary allocations, potentially prop

40. Slide 40: Thank You

    ƒŽ Šƒ†ƒ‰ƒ” †—•–”‹‡•–†Ǥȋ Ȍ ǣL74999MH1908PLC000291 Thank You ƒ‡Ȃ ǤǤ‰”ƒ™ƒŽ ‹–Ž‡ȂWhole-Time Director & Company Secretary ƒ‹ŽȂ ‰‹”‹”ƒŒǤƒ‰”ƒ™ƒŽ̷™ƒŽ Šƒ†Ǥ ‘

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