Slide 1: Exchange filing cover letter for results presentation
August 9, 2024 To, To, National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, Plot No. C/1, G Block, Bandra- Phiroze Jeejeebhoy Towers, Kurla Complex, Bandra (East), Mumbai – 21st Floor, Dalal Street, 400051 Mumbai – 400001 NSE Symbol: RISHABH BSE Scrip Code: 543977 Dear Sir/ Madam,
Slide 2: Investor Presentation – Q1FY25
RISHABH INSTRUMENTS LIMITED Investor Presentation – Q1FY25 Measure Control Record Analyze Click Here for Rishabh’s Corporate Video
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Rishabh Instruments 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 s
Slide 4: Financial Performance
1 FINANCIAL PERFORMANCE
Slide 5: Management Commentary
Management Commentary Commenting on the Q1FY25 results, Mr Dinesh Musalekar, said, “During Q1FY25, we achieved Revenues of INR 1,693 Mn. Our business performance is primarily driven by increase in Rishabh India’s domestic performance and growth in Lumel SA business. The Rishabh India’s domestic busi
Slide 6: Huge Opportunity on Solar Business
HUGE Opportunity on Solar Business…. Launch of PM Suryaghar Muft Bijli Yojana, installing solar panels in Introducing next Market generation 1 crore households. The 2023-24 Budget allocates Rs 7,327 crore Opportunity to solar projects. solar inverters now made in India In-house R&D team has 204% In-
Slide 7: Recent Acquisition to Pave way for Value Added Services
Recent Acquisition to Pave way for Value Added Services MICROSYS, spol. s r.o. company was established in 1991 as a Czech company with the headquarters in Ostrava Engaged in development of PROMOTIC visualization software (SCADA) and implementation of applications in the field of industrial process a
Slide 8: Q1FY25 Consolidated Highlights
Q1FY25 Consolidated Highlights Revenue (Rs. Mn) Adjusted* EBITDA (Rs. Mn) Operational Highlights +21% +14% ❖Our consolidated revenue for Q1FY25 6,897 955 stood at INR 1,693 Mn declined 1.8% YoY 841 5,695 basis and 4.8% on QoQ basis. -2% -59% ❖The reduction in consolidated revenues is 1,725 1,779 1,6
Slide 9: Q1FY25 Product wise Revenue
Q1FY25 Product wise Revenue Q1FY24 Q1FY25 Key Highlights 4.2% 12.9% 12.2% 1.4% ❖ Electrical automation has stood at INR 207 Mn in Q1FY25. 39.6% 40.4% ❖ Metering and control devices has stood at INR 39.9% 37.3% 631 Mn in Q1FY25. 6.3% 6.0% ❖ Aluminum die-cast business stood at INR 684 Mn in Q1FY25. FY
Slide 10: Q1FY25 Geography wise Revenue
Q1FY25 Geography wise Revenue Q1FY24 Q1FY25 Key Highlights in the Geography 3.9% 6.2% 3.8% 3.7% • Revenue from Europe has grown by 6.5% for 26.3% 45.7% 22.8% Q1FY25 to INR 839 Mn on a Y-o-Y basis 49.5% • Revenue from Poland has stood at INR 301 Mn 17.8% in Q1FY25 20.3% • Revenue from Asia has stood
Slide 11: Q1FY25 Consolidated Profit & Loss Statement
Q1FY25 Consolidated Profit & Loss Statement Profit & Loss [Rs. Mn] Q1FY25 Q1FY24 YoY Q4FY24 QoQ FY24 FY23 YoY Revenue from Operations 1,693 1,725 -1.8% 1,779 -4.8% 6,897 5,695 21.1% COGS 744 734 688 2,899 2,563 Gross Profit 949 991 -4.2% 1,091 -13.0% 3,998 3,132 27.7% GP Margin % 56.1% 57.4% -138 bp
Slide 12: Q1FY25 Standalone Profit & Loss Statement
Q1FY25 Standalone Profit & Loss Statement Profit & Loss [Rs. Mn] Q1FY25 Q1FY24 YoY Q4FY24 QoQ FY24 FY23 YoY Revenue from Operations 527 568 -7.2% 591 -10.8% 2,246 1,960 14.6% COGS 271 262 259 1,055 1,038 Gross Profit 256 306 -16.6% 332 -23.1% 1,191 922 29.2% GP Margin % 48.5% 53.9% -542 bps 56.2% -7
Slide 13: About Us
2 ABOUT US
Slide 14: About Rishabh Instruments
About Rishabh Instruments Rishabh Instruments Limited - A Leading Global Energy Efficiency Solution Provider Established in 1982 3000* 145+ 100+ Rishabh Instruments Limited is a leading engineering Global Product Lines Countries company to design, develop Customers Served and manufacture Global Ener
Slide 15: Company Timeline
Company Timeline › Incorporated › Agreement for technical › Sifam Tinsley › Acquisition of Shanghai › Received M-SIPs › Listed on Stock assistance with M/s Instrumentation Yihua V&A approval from Govt. of Exchanges Gossen – Metrawatt Ltd acquired Instrumentation India GmbH Sifam meter and Tinsley pr
Slide 16: Diversified Product Portfolio
Diversified Product Portfolio… Business Segments Metering, Control Portable Test and Aluminium High- Electrical and Protection Measuring Pressure Die- Others Automation Devices Instruments Castings Temperature Temperature Analog Panel Current Rotary CAM Digital Digital Digital I/O Controller and Hum
Slide 17: Leading Market Positioning in Key Segments
… with Leading Market Positioning in Key Segments... Segment wise Leadership Metering, Control Portable Test and Aluminium High- Electrical and Protection Measuring Pressure Die- Others Automation Devices Instruments Castings #1 #3 #2 3mn #1 1st player in Electrical 3rd player in the Digital 2nd pla
Slide 18: Manufacturing Presence across Geographies
… and Manufacturing Presence across Geographies… Our 5 Manufacturing units are in India, Poland and China and 2 modifications center are in UK and US Large facilities with an average spread area of 10,000+ sq. mt. Annual Installed Capacity of 35.5mn products per annum* Current Capacity utilisation i
Slide 19: Five State of the Art Facilities
With five State of the Art Facilities… Nashik | Indian Manufacturing Facilities Poland | Polish Manufacturing Facilities Lumel SA Facility I Facility 1 spread over 10,240 sq. mt. Facility 1 spread over 12,000 sq. mt. Lumel Alucast Facility II Facility 2 spread over 9,195 sq. mt. Facility 2 spread ov
Slide 20: And two Modification Centres
And two Modification Centres… Shanghai | China Manufacturing Facility Sifam Tinsley | Modification Centre UK US 19
Slide 21: Marquee Clientele Base with long standing relationship
… and Marquee Clientele Base with long standing relationship Note: The Brand Names mentioned are the property of their respective owners and are used here for identification purpose only 20
Slide 22: Serving through our in-house ample capacities
… serving through our in-house ample capacities Total Installed Capacity and Utilisation As of March 31, As of March 31, As of March 31, As of March 31, Total of all Manufacturing Facilities (All Products) 2021 2022 2023 2024 Installed Capacity (Annual Units p.a. in millions) 28.9 30.9 32.2 35.5 Act
Slide 23: A large addressable market
… to a large addressable market Business Segment Global Markets ($ bn) Indian Markets ($ bn) 2022 CAGR 2027E SRM* 2022 CAGR 2027E SRM* 7.8% 9.0% Electrical Automation 147.5 215.1 35.5% 6.4 9.8 35.5% 4.8% 5.5% 34.1 43.1 20.8% 0.7 0.9 13.6% Metering, Control and Protection Devices 5.1% 6.9% 5.1 6.6 52
Slide 24: Backed by History of Strong Acquisitions
Backed by History of Strong Acquisition’s Successful Integration of Acquired Businesses across Geographies to drive growth Poland UK Poland Restructuring China 2012 2013/14 2016 2019 2020 o Acquisition of Lubuskie o Acquired Sifam meter o Restructured “Lumel” into o Acquired Shanghai VA o Lumel acqu
Slide 25: Growth Drivers
3 Growth Drivers
Slide 26: Our Core Expertise
Our Core Expertise Strong and demonstrated management capabilities Acquired a loss-making business in Europe in 2012 and turnaround the company to 18% EBITDA margin Ability to drive technology and innovation through advanced and accredited R&D capabilities New product launch contributed to around 10
Slide 27: Vertically Integrated Business Model
Vertically Integrated Business Model Product Conceptualization Vertical Integration with Die-casting Vertical Integration with Electrical • Uncovers the unarticulated needs of consumers business to produce moulds Post Lifecycle Support • Drives efficiency and consumer manufacturing units value 01 De
Slide 28: In-House R&D Capabilities
In-House R&D Capabilities Launched and developed technology through continuous R&D 3 2 Design Registrations Global Patents Clamp Meter Invented and patented the rotary jaw mechanism and Multimeter, current Clamp meters with rotary safe trigger mechanism for clamp meters and voltage transducer, jaw m
Slide 29: Key Growth Strategies
Key Growth Strategies Promote product Target new customers cessible localization and Capitalize Be Ac and expand existing on company’s presence in customer accounts China, India and Europe ss Ha ompetitivene ve a Reliable Pr ost c o C duc t Continue to pursue long Enhance product term growth strateg
Slide 30: Industry Growth Drivers
Industry Growth Drivers 01 02 Electronics & Semiconductor Connected Vehicle/EV • Rising adoption of Industrial IoT solutions • Aluminum Die Casting expected to receive and integration of OT-IT shop floor significant fillip from EVs • Emphasis on DER* expands the need for • Integrated solutions of hi
Slide 31: Corporate Structure
4 CORPORATE STRUCTURE
Slide 32: Corporate Structure at a Glance
Corporate Structure at a Glance Rishabh Instruments Limited 99.6% Holding 100% Holding 100% Holding 99.94% Holding Energy Solution Labs Pvt. Ltd. Dhruv Enterprises Ltd. Sifam Tinsley Instrumentation Shanghai VA Instrument Co. Ltd. (India) (Cyprus) Inc. (USA) (China) 100% Holding 50.1% Holding 100.0%
Slide 33: Experienced Board of Directors
Experienced Board of Directors Narendra Joharimal Goliya Parappath Ramakrishnan Rathin Banerjee Promoter, Chairman and MD Non-Executive Director Independent Director o Experience: 40+ years in manufacturing and electrical industry o Holds a bachelor’s degree in science from the University of Kerala.
Slide 34: Strong Management Team
Strong Management Team Narendra Joharimal Goliya Dineshkumar Musalekar Vishal Kulkarni Promoter, Chairman and MD Group CEO Chief Financial Officer o Experience: 40+ years in manufacturing and electrical industry o Experience: 30+ years in manufacturing and electrical industry o Associated with the C
Slide 35: Awards and Accolades
Awards and Accolades 34
Slide 36: Approvals and Certifications
Approvals and Certifications 35
Slide 37: Environmental Health and Safety Management System
Environmental Health and Safety Management System Energy Saving Devices Manufactures wide range of cost-effective process optimization products Zero Carbon Emission – RoHS Compliant • Conservation of natural resources like energy, water by implementation of resource management program • Prevention o
Slide 38: Corporate Social Responsibility
Corporate Social Responsibility IIT Collaboration Tied up with IIT Jodhpur to setup a center for innovation in Green Energy. Started engagement with IIT Bombay as part of the ASPIRE (Applied Science Park for Innovation Research & Entrepreneurship) where RIL will be working on innovative ideas in the
Slide 39: Historical Financial Highlights
5 Historical Financial Highlights
Slide 40: Historical Consolidated Financial Highlights
Historical Consolidated Financial Highlights Revenue (Rs. Mn) Adjusted* EBITDA (Rs. Mn) Profit Before Tax** (Rs. Mn) +4% +21% 6,897.0 +18% 955.5 607.0 592.0 840.6 511.0 5,695.4 729.7 458.0 4,702.5 3,899.6 575.1 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Gross Margins (%) Adjusted* E
Slide 41: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Profit and Loss (Rs. Mn) FY24 FY23 FY22 FY21 Revenue from Operations 6,897 5,695 4,703 3,900 Cost of Goods Sold 2,899 2,563 1,972 1,562 Gross Profit 3,998 3,132 2,731 2,337 Gross Profit Margin 58.0% 55.0% 58.1% 59.9% Employee Cost 1,786 1,451 1,257 1,149 Other Ex
Slide 42: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Mn) Mar-24 Mar-23 Mar-22 Mar-21 Equity & Liabilities (Rs. Mn) Mar-24 Mar-23 Mar-22 Mar-21 Non - Current Assets 2,896.0 2,391.6 2,313.6 2,320.9 Total Equity 5,637.8 4,087.5 3,461.0 3,021.3 Property Plant & Equipment's 2,395.9 1,926.0 1,943.5 1,980.8 Share Capita
Slide 43: Consolidated Abridged Cash Flow Statement
Consolidated Abridged Cash Flow Statement Particulars (Rs. Mn) FY24 FY23 FY22 FY21 Net Profit Before Tax 510.5 607.2 592.4 458.0 Adjustments for: Non -Cash Items / Other Investment or Financial Items 469.0 285.4 166.8 196.4 Operating profit before working capital changes 979.5 892.6 759.2 654.4 Chan
Slide 44: Consolidated Key Ratios
Consolidated Key Ratio’s Working Capital (Rs. Mn) Debt to Equity Asset Turnover 2,366.9 0.3 0.9 0.9 0.3 0.8 0.3 0.8 1,915.6 1,405.7 0.1 855.8 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Return on Asset* (%) Return on Equity* (%) Return on Capital Employed* (%) =Net Profit / Total Ass
Slide 45: Thank You
T h a n k Yo u . . For more information, please contact Company: Investor Relations Advisor: Rishabh Instruments Limited. Strategic Growth Advisors Pvt. Ltd. CIN - L31100MH1982PLC028406 CIN - U74140MH2010PTC204285 Mr. Ajinkya Joglekar Mr. Nishant Dudhoria / Mr. Vatsal Shah ajinkya.joglekar@rishabh.c