Slide 1: Hind Rectifiers Limited – Empowering Energy Solutions
Hind Rectifiers Limited Empowering Energy Solutions Investor Presentation – January 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 • HRL became a key player in the railway • Expansion at Nashik, Satpur Plant. • Approved the incorporation of a • Incorporated as a private limited company to sector by introducing traction converters subsidiary focused on developing take over the rectifier business from Kaycee for el
Slide 6: Product Overview
Product Overview Product wise Revenue Mix – 9MFY25 5.8% 4.5% 0.2% Railway Systems 15.5% 51.3% Traction Traction Motors Traction & Auxiliary DC Substation Transformers Converters Rectifiers 22.7% Industrial Systems Product Wise Orderbook Mix – 9MFY25 6.7% 5th Gen. High 1.8% 0.0% SMPS Rectifiers Singl
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 Office - Delhi Electrostatic Precipitators (High Voltage Rectifiers) Thyristor Controlled Rectifiers, Water Cooled Rectifiers Constant Current Rectifiers Loco Panels (SB1, SB2, HB1, HB
Slide 10: R&D Synopsis
R&D Synopsis 01 Propulsion for Railway Vehicles company enhances its product portfolio through this project, positions itself as a leader in the rail sector, and potentially drives increased sales and market share Product Innovation 06 02 Market Responsiveness • High power water cooled IGBT based tr
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 Executive Director Independent Director Chairman and Managing Director & CEO ● Mr. Vishal Pacheriwala is a Chartered Accountant with a ● Mr. Suramya graduated from H. R. College of Commerce & ● Ms. Akshada graduated in
Slide 13: Leadership Team
Leadership Team Mr. Suramya Nevatia Ms. Akshada Nevatia Mr. A. K. Nemani Mr. Lalit Tejwani Chairman and Executive Director Chief Financial Officer Chief Strategy Officer Managing Director & CEO ● Mr. Suramya graduated from H. R. College of Commerce & ● Ms. Akshada graduated in Psychology from S. P.
Slide 14: Industry Overview
Industry Overview
Slide 15: Industry Highlights
Industry Highlights Demand for total No of Loco Motives • The Indian government has made significant investments in the Indian Railways, focusing on 46,017 infrastructure development, modernization, and safety improvements. The capital expenditure (Capex) for FY 2024-25 has reached a record ₹2.5 lak
Slide 16: Strategic Priorities
Strategic Priorities
Slide 17: 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 18: Way Forward…
Way Forward… ▪ Expand manufacturing capacities at Nashik and optimize production space for new product lines ▪ Improve backward integration strategies for cost efficiency and quality control Strengthening Manufacturing Capacity ▪ Develop new propulsion systems and related technologies to cater to th
Slide 19: Financial Highlights
Financial Highlights
Slide 20: Management Commentary
Management Commentary Commenting on the performance Suramya Nevatia, MD & CEO of Hind Rectifiers Limited said, “We are pleased to announce that Q3 and 9M FY25 have been marked by robust growth and operational excellence. Our topline for Q3 FY25 stood at Rs 169.4 crore, reflecting a growth of 24% YoY
Slide 21: Key Operational Highlights – 9MFY25
Key Operational Highlights – 9MFY25 • Robust order book at INR 870 crore as of December 2024, primarily driven by railway sector expansion and government initiatives • BOD approved the incorporation of a wholly owned subsidiary focused on developing cutting- edge products and solutions in Informatio
Slide 22: Orderbook Positioning as on 31st December 2024
Orderbook Positioning as on 31st December 2024 Driving Success Through a Growing Order Book (INR cr) Recent Orders Wins +124.2% 870 870 750 • Hind Rectifiers won an INR 200 crore supply order for +42.80% electrical components and equipment, to be executed by FY 2025-26 388 368 307 • Additional order
Slide 23: Financial Snapshot
Financial Snapshot (INR cr) Total Income EBITDA EBITDA Margins 518.2 471.5 51.5 +23.1% +36.1% 372.4 359.3 44.9 300.1 305.4 37.6 12.5% 255.8 10.1% 10.9% 25.9 8.1% 8.7% 19.9 22.5 6.5% 6.1% 121.1 127.5 15.3 4.3% 4.3% 10.3 5.2 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 9MFY25 FY17 FY18 FY19 FY20 FY21 FY22
Slide 24: Working Capital Cycle
Working Capital Cycle Working Capital Days Cash Conversion Cycle 194 203 -9.4% -9.4% 150 154 133 140 143 138 123 126 104 107 102 107 112 113 FY18 FY19 FY20 FY21 FY22 FY23 FY24 9MFY25 FY18 FY19 FY20 FY21 FY22 FY23 FY24 9MFY25 Reducing Working Capital and Increasing Efficiency……. ● The overall working
Slide 25: Financial Snapshot
Financial Snapshot (INR cr) Total Income EBITDA EBITDA Margins 471.5 51.5 +90bps +23.9% +35.1% 9.8% 10.7% 10.7% 10.9% 166.0 169.4 18.4 18.1 136.7 13.4 Q3FY24 Q2FY25 Q3FY25 9MFY25 Q3FY24 Q2FY25 Q3FY25 9M FY25 Q3FY24 Q2FY25 Q3FY25 9M FY25 PAT PAT Margins +480bps 27.1 6.10% 5.90% 5.80% +566.7% 10.2 10.
Slide 26: Quarterly Profit and Loss Statement
Quarterly Profit and Loss Statement Particulars (INR Cr) Q3FY25 Q3FY24 Y-o-Y (%) Q2FY25 Q-o-Q (%) 9MFY25 9MFY24 Y-o-Y (%) Total Income* 169.4 136.7 24% 166.0 2% 471.5 366.4 29% COGS 124.8 99.9 119.3 341.3 270.8 Gross Profit 44.7 36.8 21% 46.7 -4% 130.2 95.6 36% Gross Profit Margin 26.4% 26.9% 28.1%
Slide 27: Historical Financials
Historical Financials
Slide 28: Profit & Loss Account
Profit & Loss Account Particulars (INR Cr) H1FY25 FY24 FY23 FY22 Total Income* 302.0 518.2 359.1 372.4 COGS 216.5 384.3 279.6 288.3 Gross Profit 85.5 133.9 79.5 84.1 Gross Profit Margin 28.3% 25.8% 22.1% 22.5% Employee Expenses 30.1 52.3 39.1 36.6 Other Expenses 22.0 36.6 25.4 24.9 EBITDA 33.4 44.9
Slide 29: Balance Sheet Statement
Balance Sheet Statement Assets (INR Cr) Sep-24 Mar-24 Mar-23 Mar-22 Liabilities (INR Cr) Sep-24 Mar-24 Mar-23 Mar-22 Non-Current Assets Equity Property, Plant and Equipment 75.4 76.8 72.7 40.0 Equity Share capital 3.4 3.4 3.4 3.3 Capital work-in-progress 11.8 8.2 6.9 17.7 Other Intangible Asset 6.2
Slide 30: Cashflow Statement
Cashflow Statement Particulars (INR Cr) H1FY25 FY24 FY23 FY22 Net Profit Before Tax* 22.7 17.7 -8.7 11.2 Adjustments for: Non-Cash Items / Other Investment or Financial Items 19.4 30.6 23.9 11.2 Operating profit before working capital changes 42.0 48.3 15.2 22.4 Changes in working capital -18.3 -14.
Slide 31: Contact Information
Contact Information Company : Investor Relations Advisor : Strategic Growth Advisors Pvt. Ltd. Hind Rectifiers Limited CIN: U74140MH2010PTC204285 CIN: L28900MH1958PLC011077 Mr. Aakash Mehta / Mr. Nitin Agarwal Ms. Meenakshi Anchlia E: investors@hirect.com E: Aakash.s.m@sgapl.net / nitin.agarwal@sgap