Standard Engineering Technology Ltd · NSE:SETL
Standard Engineering Technology — Standard Glass Lining Technology — Q3 FY2025 Earnings Presentation
37 slides from Standard Engineering Technology's earnings presentation, Feb 12, 2025
Slide 1: Exchange filing cover letter for Q3FY25 investor presentation
Date: 12 February 2025 To, The Corporate Relations Department The Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, C-1 Block G, Dalal Street, Bandra - Kurla Complex, Bandra (East) Mumbai - 400 001 Mumbai - 400 051 SCRIP CODE: 544333 SY
Slide 2: Standard Glass Lining Technology Limited Investor Presentation February 2025
Standard Glass Lining Technology Limited Investor Presentation February 2025
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), have been prepared by Standard Glass Lining Technology Limited (the “Company”) solely for information purposes and do not constitute any offer, recommendation, or invitation to purchase or subscribe for any securities and
Slide 4: Table of Content
Table of Content Business Overview Quarter Performance- Q3 & 9MFY25 Annexure 33 3
Slide 5: Business Overview
BUSINESS OVERVIEW QUARTER PERFORMANCE- Q3 & 9MFY25 ANNEXURE 44 4
Slide 6: A Top Ranked Specialised Engineering Equipment Company
Standard Glass Lining: A Top Ranked Specialised Engineering Equipment Company 1 Leading manufacturers of glass-lined, stainless steel, and nickel alloy based specialized engineering equipment 2 Well invested manufacturing facility with strong capabilities across chain 3 Deep and well-established cus
Slide 7: A Message from the MD
A Message from the MD Nageswara Rao Kandula Promoter and Managing Director “This quarter marks a historic milestone for Standard Glass, as we announce our first earnings report post-IPO. The overwhelming response from investors has been truly humbling, and we are proud to report strong revenue growt
Slide 8: COO's Comment
COO’ Comment Venkata Mohana Rao Katragadda Promoter and Executive Director “At Standard Glass Lining Technology Limited, technological advancement, innovation, and customization are at the heart of our growth. We believe in continuously enhancing our capabilities to meet the unique needs of our cust
Slide 9: Diversified and De-Risked Business Model
Diversified and De-Risked Business Model FY22 FY23 FY24 5.7% 7.8% 13.2% Reaction Systems By Line of 26.1% 31.0% Storage, Separation Business 240 498 544 & Drying Systems 30.1% 56.7% 61.3% 68.2% Plant, Engineering Services 13.5% 1.0% 2.9% 5.7% 14.3% 12.5% Pharmaceuticals By End Users 240 498 544 Chem
Slide 10: Strong Growth Trajectory
Strong Growth Trajectory Total Income (In Crs) EBITDA & EBITDA Margins PAT & PAT Margins CAGR:51% CAGR:55% CAGR:54% 60 101 53 550 88 18.4% 500 10.9% 10.7% 42 17.6% 25 242 17.3% 10.4% FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24 EBITDA Margins PAT Margins 99 9
Slide 11: Well Positioned in a High Growth Market
Well Positioned in a High Growth Market Reaction Systems (heat transfer Separation and Drying Systems Plant Engineering and Services systems, pipes & fittings, pumps, (Filtration & Drying, Storage, (Services, utility systems, others) reactors) Vessels) 76.12 1 7. 4 5 14.00 Global Market CY23 (USD bn
Slide 12: Business Model built on Multiple USPs
Business Model built on Multiple USPs CUSTOMISED AND WELL DEEP RELATION- INVESTING STRATEGIC PROFITABLE INNOVATIVE INVESTED -SHIP WITH IN PROJECTS TO PARTNERSHIP, AND PRODUCT MANUFACTURING MARQUEE DRIVE AIDING IN SCALABLE OFFERING FACILITIES CLIENTS FUTURE STRENGTHENING BUSINESS GROWTH THE BUSINESS
Slide 13: Customised and Innovative Product Offering
1. Customised and Innovative Product Offering Capabilities Turnkey automated equipment solutions Vacuum / Pressure 1 of the few companies in India offering end- 1 to-end customized solutions 2 optimising processes like vacuum distillation, solvent recovery, gas dispersion RM Storage Reaction Filtrat
Slide 14: Well Invested Manufacturing Facilities
2. Well Invested Manufacturing Facilities 8 65 # of Mfg. Sub products >400,000 Facilities across product Built-up area (sq. ft.) categories 30 100 9,000 units ANFD capacity Reactors p.m. PTFE lined pipes & p.m. fittings capacity p.m. 30L to 40,000L 300-350 units Capability to mfg. products of Monthl
Slide 15: Deep Relationship with Marquee Clients
3. Deep Relationship with Marquee Clients add more customers Revenue Contribution from Top 10 & Top 20 Customers Top 10 customer Top 20 customer 72% 54% 58% 41% FY23 FY24 Enjoying long-standing relationships in excess of 3 years with 13 of our top 20 customers Long-term relationships and ongoing eng
Slide 16: Investing in Projects to Drive Future Growth
4. Investing in Projects to Drive Future Growth Expand our capacity by increasing the capabilities of our existing manufacturing plants as well as set up new manufacturing plants We have invested significant capex in the past to expand our manufacturing capacities Increase in Capex (INR Crs) Increas
Slide 17: Strategic Partnership
5. Strategic Partnership Grow inorganically through strategic acquisitions and alliances Explore & consider opportunities that can create synergies between the proposed target companies and us, and align with our growth strategy Agreement with HHV Pumps for supply of vacuum pumps with a private labe
Slide 18: Profitable and Scalable Business Model
6. Profitable and Scalable Business Model Total debt/Equity and ROE/Adjusted ROE* ROCE/Adjusted ROCE* Net debt/Equity 56.2% ROE Adjusted ROE ROCE Adjusted ROCE 50.0% 1.01 0.98 54.9% 44.1% 47.6% 42.0% 42.5% 43.4% 28.5% 29.4% 0.53 0.47 25.5% 20.7% 0.32 0.0 FY22 FY23 FY24 FY22 FY23 FY24 FY22 FY23 FY24
Slide 19: Improving Working Capital and Strong Asset TO
Improving Working Capital and Strong Asset TO Wo r king Ca p ita l Da ys F i xe d A s s e t Tu r n o ve r R a t i o ( x ) Receivable Days Inventory Days Payables Days WC Days 152 10.9 129 124 8.4 114 113 7.4 99 79 83 64 64 55 50 FY22 FY23 FY24 FY22 FY23 FY24 1818 18
Slide 20: Launching Pioneering Products: Exciting Innovations Ahead
Launching Pioneering Products: Exciting Innovations Ahead New Product Line is set to revolutionize the market; Standard Glass Lining is the first and only company in India to introduce Shell & Tube Glass- Lined Heat Exchangers, backed by advanced technology from AGI Inc., Japan Targeting Rs 2000 cro
Slide 21: Strategic Priorities
Strategic Priorities Continue to expand and improve our existing product portfolio and enter into Capitalise on increasing demand from international markets to grow our additional end-user industries exports Continue to strengthen our existing product portfolio in line with our capabilities Increasi
Slide 22: Quarter Performance - Q3 & 9MFY25
BUSINESS OVERVIEW QUARTER PERFORMANCE- Q3 & 9MFY25 ANNEXURE 2121 21
Slide 23: Results at Glance: 9MFY25
Results at Glance: 9MFY25 Total Income EBITDA PBT PAT ₹ 455 Crs ₹ 91 Crs ₹ 71 Crs ₹ 52 Crs ▲ 33% YoY ▲ 42% YoY ▲ 46% YoY ▲ 45% YoY 01 IPO proceeds of Rs 210cr; will be used in as per the objects mentioned in DRHP Anjaneyulu Pathuri Chief Financial Officer “We are proud of our strong nine- 02 Took po
Slide 24: Financial Highlights
Financial Highlights Total Income (In Crs.) EBITDA & Margins (%) PAT & Margins (%) 32.5% 10.5% 11.5% 18.7% 20.1% 42.1% 45.4% 455 343 91 64 52 36 9MFY24 9MFY25 9MFY24 9MFY25 9MFY24 9MFY25 Total Income (In Crs.) EBITDA & Margins (%) PAT & Margins (%) 16.6% 21.7% 20.1% 9.1% 12.4% 11.1% 3.6% 25.0% 27.4%
Slide 25: Q3FY25 Financial Performance
Q3FY25 Financial Performance Particulars (Rs in Cr) 9MFY25 9MFY24 YoY Q3FY25 Q3FY24 YoY Revenue from Operations 447 342 30.7% 140 138 1.8% Other Income 8 1 731.8% 3 0 1390.2% Total Income 455 343 32.5% 143 138 3.6% Total Expenditure 364 279 30.3% 114 115 -0.6% EBITDA 91 64 42.1% 29 23 25.0% EBITDA M
Slide 26: Revenue By Segment
Revenue By Segment Q3FY25 Q2FY25 Q3FY24 15.2% 8.3% 18.9% Reaction Systems By Line of 45.9% Storage, Separation Business 140 165 56.7% 32.8% 138 & Drying Systems 28.1% 59.0% 35.3% Plant, Engineering Services 5.5% 15.4% 10.8% 12.4% Pharmaceuticals By End 10.6% Users 16.8% 140 165 138 Chemicals Industr
Slide 27: Revenue By Segment
Revenue By Segment 9MFY25 9MFY24 15.0% 9.2% Reaction Systems By Line of Storage, Separation Business 447 51.3% 31.3% 342 & Drying Systems 59.5% 33.7% Plant, Engineering Services 4.5% 12.9% 15.7% Pharmaceuticals By End 14.3% Users 447 342 Chemicals Industries Others* 72.8% 79.8% 4.3% 0.6% Domestic By
Slide 28: Annexure
BUSINESS OVERVIEW QUARTER PERFORMANCE- Q3 & 9MFY25 ANNEXURE 2727 27
Slide 29: From Vision to Reality: Our Company's Journey
From Vision to Reality: Our Company's Journey Supplied first Finished Incorporated the unique stainless construction of new Sold 100 glass Hit a Glass Lining steel glass lined facility of glass lined reactors. turnover of Division reactor to NATCO lining equipment at ₹ 500,000,000.00 Pharma Limited
Slide 30: Global Industry Growth Driving Expansion
Global Industry Growth Driving Expansion The Global Market Opportunity –Sizing (Values in USD Bn) and CAGR (2023 – 2028E), unless specified otherwise Glass Lined Equipment Market Reactors (Pressure Vessels) & Storage Tanks Market Filter & Dryers Market Overview Pressure Vessels Storage Tanks CAGR 10
Slide 31: India's Expanding Industry Creating Massive Growth Opportunities
India's Expanding Industry Creating Massive Growth Opportunities for the Company The India Market Opportunity –Sizing (Values in INR Billion) and CAGR (FY24 –FY29E), unless specified otherwise Reactors (Pressure Vessels and Storage tanks) Glass Lined Equipment Market Filter & Dryers Market Overview
Slide 32: A Glimpse of our Plant
| A Glimpse of our Plant ce) Standard Glass
Slide 33: Well Diversified Product Portfolio
Well Diversified Product Portfolio Reaction Systems (heat transfer systems, SeparationFRP andMoulded DryingGratings Systems Plant Engineering FRP and RodsServices pipes & fittings, pumps, reactors) (Filtration & Drying, Storage, Vessels) (Services, utility systems, others) AE Reactor BE Reactor CE R
Slide 34: Introducing our Leadership Team
Introducing our Leadership Team Board of Directors Senior Management Independent Directors & Promoter and Managing Director Nominee Director Kudaravalli Punna Sambasiva Rao Kandula Krishna Rao Gollapudi Veni Executive VP- Non-Executive Chairman, Promoter and Manufacturing Independent Director & Exec
Slide 35: Historical Profit and Loss Statement
Historical Profit and Loss Statement Particulars (All amounts are in INR Crs. except otherwise stated) 2022 2023 2024 9MFY25 Revenue from Operations 240 498 544 447 Other Income 1 2 6 8 Total Income 242 500 550 455 COGS 115 285 318 292 Gross Profit 126 215 232 163 Total Expenditure 200 412 449 364 E
Slide 36: Historical Balance Sheet
Historical Balance Sheet Particulars 2022 2023 2024 1HFY25 Particulars 2022 2023 2024 1HFY25 Equity Non-Current Assets Property plant and equipment 31.9 54.7 82.2 92.4 Equity share capital 15.3 15.8 18.2 181.6 Capital work-in-progress 0.7 3.3 4.5 5.2 Other equity 53.7 139.9 389.2 261.6 Right-of-use
Slide 37: Thank You
Thank You Investor Relations Contact: Go India Advisors LLP Monali Jain Sheetal Khanduja Go India Advisors Go India Advisors monali@GoIndiaAdvisors.com sheetal@GoIndiaAdvisors.com M:+91 8078675682 M:+91 97693 64166 Company Contact: Anjaneyulu Pathuri Hima Priya Chief Financial Officer (CFO) Company
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