Greaves Cotton Limited · NSE:GREAVESCOT
Greaves Cotton — Q3 FY2024 Earnings Presentation
26 slides from Greaves Cotton's earnings presentation, Feb 8, 2024
Slide 1: Cover letter to stock exchanges
08th February, 2024 The Manager - Listing The Manager - Listing BSE Limited National Stock Exchange of India Limited BSE Code - 501455 NSE Code - GREAVESCOT Dear Sir/Madam, Sub: Analysts/Investor Presentation In furtherance to our letter dated 31st January, 2024, please find enclosed the presentatio
Slide 2: Q3 and 9M FY2024 Earnings Presentation
TRANSFORMATION FOR SUSTAINABLE GROWTH DEVELOPING THE COMPLETE MOBILITY ECOSYSTEM Q3 and 9M FY2024 Earnings Presentation February 8, 2024 1
Slide 3: Q3 FY24 Financial Highlights
Q3 FY24 Financial Highlights Greaves Cotton Consolidated revenue of Rs. 665 crore for Q3FY24 GCL Q3 FY24 highlights Revenue Rs. 443Cr ➢ GCL Group Revenue at Rs 665 Cr, up by 30% Y-o-Y Excel Greaves • EBITDA at Rs. 35 Cr, up by 32 Crs Y-o-Y Revenue Electric ➢ GCL Standalone Revenue at Rs. 443 Cr, up
Slide 4: Our Margin Improvement Journey
Our Margin Improvement Journey Engine Retail GCL EBITDA Margins 20.7% 20.9% 21.4% 19.8% 17.8% 18.3% 16.5% 15.2% 13.9% 11.9% 12.6% 10.7% 11.3% 10.5% 8.9% 7.3% 7.8% 6.7% 5.7% 2.9% 3.5% Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 EBITDA Table Particulars Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q
Slide 5: Greaves Cotton: Democratizing Sustainable Mobility
Greaves Cotton: Democratizing Sustainable Mobility Dr. Arup Basu – MD Mr. Sanjay Behl – CEO Mr. Narasimha Jayakumar - CEO E2W and E3W vehicles Multi-brand spares (2W, 3W, CE) • Fuel-agnostic Engines and Engine Components EV Solutions Retail and Business Users • Drive Controls (Rods, Cables, Levers &
Slide 6: Management Commentary
Management Commentary ▪ Greaves Engineering is strategically broadening its product portfolio by venturing into mechatronics and electronics, emphasizing green fuels. Synergistic collaboration with Excel Controlinkage is bringing in new capabilities and opening newer avenues of growth for Greaves En
Slide 7: Diversification Strategy Positively Contributing to the Business Growth
Diversification Strategy Positively Contributing to the Business Growth GCL Group Revenue at Rs. 665 Cr 229 374 486 621 660 699 514 827 569 727 665 68 74 383 39 281 318 207 149 237 127 181 141 90 15 379 374 374 365 437 396 459 443 214 284 302 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q
Slide 8: Financial Snapshot
Financial Snapshot Particulars (Consolidated) Q3 Growth (%) Q2 Growth (%) 9M Growth (%) (Rs. Cr.) FY24 FY23 Y-o-Y FY24 Q-o-Q FY24 FY23 Y-o-Y Income from Operations 665 514 30% 727 (8%) 1,961 1,873 5% RMC (%) 66.1% 69.3% 69.3% 68.6% 72.4% Employee Cost 82 52 73 227 149 Other Expenses 108 102 105 320
Slide 9: Business Division Disclosures
Business Division Disclosures Greaves Engines Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 (Rs. Cr.) Revenues 253 240 226 296 257 313 301 EBITDA 7 8 13 23 17 33 38 EBITDA Margin (%) 2.9% 3.5% 5.7% 7.8% 6.7% 10.5% 12.6% Greaves Retail Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 (Rs. Cr.) Rev
Slide 10: Business Division Disclosures
Business Division Disclosures Excel Q1FY24 Q2FY24 Q3FY24 (Rs. Cr.) Revenues 39 68 74 EBITDA 14 22 20 EBITDA Margin (%) 36.6% 33.0% 27.5% GCL + Excel Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 (Rs. Cr.) Revenues 374 374 365 437 435 527 517 EBITDA 27 33 39 52 59 86 88 EBITDA Margin (%) 7.3% 8.9%
Slide 11: Leverage Profile
Leverage Profile Consolidated (Rs. Cr.) Mar - 23 Sep - 23 Dec - 23 Standalone (Rs. Cr.) Mar-23 Sep-23 Dec-23 Cash & Cash Equivalent 1,145 901 654 Cash & Cash Equivalent 559 416 405 Short Term Debt 3 53 52 Short Term Debt NIL NIL NIL Long Term Debt NIL NIL NIL Long Term Debt NIL NIL NIL Total Debt 3
Slide 12: Segment Volumes
Segment Volumes Q3 Growth (%) Q2 Growth (%) 9M Growth (%) Volumes (Units) FY24 FY23 Y-o-Y FY24 Q-o-Q FY24 FY23 Y-o-Y Engines Auto 24,735 18,327 35% 24,968 (1%) 65,872 50,646 30% Non-Auto 9,992 8,585 16% 11,199 (11%) 33,083 28,258 17% Engines* 34,727 26,912 29% 36,167 (4%) 98,955 78,904 25% E2W 10,46
Slide 13: Quarterly Business Updates
Quarterly Business Updates Q3 AND 9M FY24 INVESTOR’S PRESENTATION 12
Slide 14: Quarterly Business Updates
Quarterly Business Updates • Diversified product portfolio that • Continues to be amongst 'Top 5' • Ranks among the top 3 players • Financing partnerships with can operate on green fuels leading E2W players in the aftermarket segment leading electric 2W OEMs, • Enhanced competitiveness through • Str
Slide 15: Greaves – Transformation Journey
Greaves – Transformation Journey Q3 AND 9M FY24 INVESTOR’S PRESENTATION 14
Slide 16: Empowering Efficient and Sustainable Last Mile Mobility
Empowering Efficient and Sustainable Last Mile Mobility • Applications in multiple • Extensive last mile mobility experience • Distribution of EV components and sectors: automotive, industrial, & domain leadership EV power train for aftermarket infrastructure, construction, and public transportation
Slide 17: Comprehensive Last Mile Ecosystem
Comprehensive Last Mile Ecosystem Engine vertical integration: Engine Components and Engineering Gensets Engines, Gensets and Engineering integration: Engine Components Electric Powertrains and Cables and Sensors Electric Powertrain Single Cylinder Gensets Engines Mobility E2W & E3W 9000+ Service an
Slide 18: Greaves Engineering: Bespoke Fuel-Agnostic Solutions
Greaves Engineering: Bespoke Fuel-Agnostic Solutions Represent Current and Future Profit Pools Infrastructure Mobility Industrial Applications Customer Centricity Fuels Petrol Diesel CNG/Ethanol Hydrogen Electric Components Solutions Single Cylinder Multi Cylinder Gensets e-Powertrain Engines Engine
Slide 19: Greaves Electric Mobility
Greaves Electric Mobility Existing E2Ws Upcoming E2Ws 2 Wheelers Magnus EX Zeal CA EX Primus Reo – Recently Launched Magnus LT NXG City Speed City Speed High Speed Low Speed City Speed High Speed Electric Cargo – ELTRA Electric Passenger Other Fuel Types Recently Launched Coming Soon 3 Wheelers Desi
Slide 20: Greaves Retail: Asset-light business spanning sales to service to spares
Greaves Retail: Asset-light business spanning sales to service to spares for 3W, 2W, SCVs, EVs and construction equipment (CE) High asset uptime Multi-brand spares Value added services Pan India network reach (Insurance, RSA) (sales, spares, service) Lower TCO Vehicle financing 3rd party charging 90
Slide 21: Greaves Finance and Greaves Technologies
Greaves Finance and Greaves Technologies • 100% focused on EV financing • Helping enterprises accelerate the transition to sustainable mobility solutions, enabling them to make it happen at speed • Digital first consumer journey • Introduces "evfin", an innovative platform for electric vehicle • Pro
Slide 22: Robust Manufacturing Capabilities & Reach
Robust Manufacturing Capabilities & Reach Greaves Manufacturing Footprint Transition Strong Presence E-Rickshaw Manufacturing Component Manufacturing Greater Noida Nagpur 163+ 7 Years of Legacy Regional Offices 34 8 Countries Presence Factories Engine Manufacturing 3W Auto & E-Cargo Manufacturing Au
Slide 23: ESG - Commitment
ESG - Commitment • The Company’s commitment towards the environment is reflected in all aspects of functioning, including manufacturing processes and technological innovations. It has been certified as an ISO 14001:2015 • The Company reached another milestone in Going Green with the inauguration of
Slide 24: Awards and Recognition
Awards and Recognition Greaves Technologies has been Excel Controlinkage honoured honored with the prestigious Third year in a row as best exporter of the region by supplier of the year award in the VIA Nagpur “Innovation” category by Daimler Q3 AND 9M FY24 INVESTOR’S PRESENTATION 23
Slide 25: Disclaimer
Disclaimer This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Greaves Cotton (“Greaves” or the Company) future business developments an
Slide 26: Thank You
SOUND FUNDAMENTALS| STABLE CASHFLOW | AGILE STRUCTURE GROWING BRANDS | GROWING RETAIL FOOTPRINT | GROWING CUSTOMER BASE MOBILITY SOLUTIONS | MOVING PEOPLE | MOVING CARGO THANK YOU REGISTERED OFFICE For further information, please contact Greaves Cotton Limited Anvita Raghuram / Bhushan Khandelwal J-