Slide 1: Exchange filing cover letter
Registered Office Address : Lake Road, Bhandup (W), Mumbai - 400078. Tel. : +91-22-49601775 ® Email : corporate@hirect.com / marketing@hirect.com z ; eg CIN : L28900MH1958PLC011077 Hind Rectifiers Limited Website : www.hirect.com Ref. No. HIRECT /SEC/2025-26/9 May 5, 2025 BSE Limited National Stock
Slide 2: Hind Rectifiers Limited - Investor Presentation May 2025
Hind Rectifiers Limited Empowering Energy Solutions Investor Presentation – May 2025 1
Slide 3: 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 4: Company Overview
Company Overview
Slide 5: 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 6: 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 ele
Slide 7: Product Overview
Product Overview Product wise Revenue Mix – FY25 5.9% 4.5% 0.1% Railway Systems 15.9% 53.5% Traction Traction Motors Traction & Auxiliary DC Substation Transformers Converters Rectifiers 20.0% Industrial Systems Product Wise Orderbook Mix – FY25 0.0% 1.4% 5th Gen. High 7.2% SMPS Rectifiers Single &
Slide 8: 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 9: 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 10: 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 11: 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 12: 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 13: 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 14: 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 15: Industry Overview
Industry Overview
Slide 16: Industry Highlights
Industry Highlights • During FY25 so far, the progress in the expansion of the railway network stayed at levels comparable to the previous year, while the addition of rolling stock increased considerably Between April and October 2024, 17 new pairs of Vande Bharat trains were introduced to the netwo
Slide 17: Recent developments in railways
Recent developments in railways Demand for total No of Loco Motives • Gati shakti multi-modal Cargo Terminal (GCT): 91 GCTs commissioned, and 234 locations 46,017 approved by October 31, 2024 • Net zero carbon emission: Indian Railways targets 30 GW of renewable energy by 2029-30, with 31,581 375 MW
Slide 18: Strategic Priorities
Strategic Priorities
Slide 19: 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 20: Way Forward…
Way Forward… ▪ Expand manufacturing capacities at Nashik and optimize production space for new product lines Strengthening Manufacturing Capacity ▪ Improve backward integration strategies for cost efficiency and quality control ▪ Develop new propulsion systems and related technologies to cater to th
Slide 21: Financial Highlights
Financial Highlights
Slide 22: Management Commentary
Management Commentary Commenting on the performance Suramya Nevatia, MD & Chairman of Hind Rectifiers Limited said, “FY25 has been a landmark year for Hind Rectifiers, marked by record-breaking order inflows, strong revenue growth, and significant margin expansion. Our topline grew by 27% YoY to INR
Slide 23: Key Operational Highlights – FY25
Key Operational Highlights – FY25 • Robust order book at INR 893 crore as of March 2025, primarily driven by railway sector expansion and government initiatives During the year, the Board of Directors has approved the incorporation of wholly owned subsidiaries: • Coincade Studios Private Limited for
Slide 24: Orderbook Position as on 31st March 2025
Orderbook Position as on 31st March 2025 Driving Success Through a Growing Order Book (INR cr) Orders Wins in FY25 893 +34.43% • Hind Rectifiers won an INR 200 crore supply order for electrical components and equipment, to be executed by 534 FY 2025-26 368 • Additional two orders of INR 73 crore and
Slide 25: Financial Snapshot
Financial Snapshot (INR cr) Total Income EBITDA EBITDA Margins 656.8 71.8 CAGR:+26% 518.2 CAGR:+32% +280 Bps 12.5% 372.4 359.3 44.9 10.9% 300.1 305.4 37.6 10.1% 255.8 8.1% 8.7% 25.9 22.5 6.5% 6.1% 127.5 19.9 4.3% 15.3 10.3 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY
Slide 26: Working Capital Cycle
Working Capital Cycle Working Capital Days Cash Conversion Cycle 194 203 -88 days -91 days 150 154 133 140 143 138 123 126 104 107 106 107 112 112 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 Reducing Working Capital and Increasing Efficiency……. ● The overall worki
Slide 27: Interim Financial Snapshot
Interim Financial Snapshot (INR cr) Total Income EBITDA EBITDA Margins +22% 185.4 169.4 +46% 151.7 +180bps 20.2 18.1 10.7% 10.9% 13.9 9.1% Q4FY24 Q3FY25 Q4FY25 Q4FY24 Q3FY25 Q4FY25 Q4FY24 Q3FY25 Q4FY25 PAT PAT Margins +200bps 5.9% 5.4% +96% 3.4% 10.0 10.0 5.1 Q4FY24 Q3FY25 Q4FY25 Q4FY24 Q3FY25 Q4FY2
Slide 28: Quarterly Profit and Loss Statement
Quarterly Profit and Loss Statement Particulars (INR Cr) Q4FY25 Q4FY24 Y-o-Y (%) Q3FY25 Q-o-Q (%) FY25 FY24 Y-o-Y (%) Total Income* 185.4 151.7 22% 169.4 9% 656.8 518.2 27% COGS 137.0 113.6 124.8 478.3 384.3 Gross Profit 48.4 38.1 27% 44.7 8% 178.6 133.8 33% Gross Profit Margin 26.1% 25.2% 26.4% 27.
Slide 29: Balance Sheet Statement
Balance Sheet Statement Assets (INR Cr) Mar-25 Mar-24 Liabilities (INR Cr) Mar-25 Mar-24 Non-Current Assets Equity Property, Plant and Equipment 86.6 76.8 Equity Share capital 3.4 3.4 Capital work-in-progress 6.8 8.2 Other Equity 156.5 121.1 Other Intangible Asset 15.7 6.9 Intangible assets Under De
Slide 30: Cashflow Statement
Cashflow Statement Particulars (INR Cr) FY25 FY24 Net Profit Before Tax* 50.1 17.7 Adjustments for: Non-Cash Items / Other Investment or Financial Items 35.7 30.6 Operating profit before working capital changes 85.8 48.3 Changes in working capital -42.2 -14.2 Cash generated from Operations 43.6 34.1
Slide 31: Historical Financials
Historical Financials
Slide 32: Profit & Loss Account
Profit & Loss Account Particulars (INR Cr) FY25 FY24 FY23 FY22 Total Income* 656.8 518.2 359.1 372.4 COGS 478.3 384.3 279.6 288.3 Gross Profit 178.6 133.8 79.5 84.1 Gross Profit Margin 27.2% 25.8% 22.1% 22.5% Employee Expenses 63.3 52.4 39.1 36.6 Other Expenses 43.5 36.6 25.4 24.9 EBITDA 71.8 44.9 1
Slide 33: Balance Sheet Statement
Balance Sheet Statement Assets (INR Cr) Mar-25 Mar-24 Mar-23 Mar-22 Liabilities (INR Cr) Mar-25 Mar-24 Mar-23 Mar-22 Non-Current Assets Equity Property, Plant and Equipment 86.6 76.8 72.7 40.0 Equity Share capital 3.4 3.4 3.4 3.3 Capital work-in-progress 6.8 8.2 6.9 17.7 Other Intangible Asset 15.7
Slide 34: Cashflow Statement
Cashflow Statement Particulars (INR Cr) FY25 FY24 FY23 FY22 Net Profit Before Tax* 50.1 17.7 -8.7 11.2 Adjustments for: Non-Cash Items / Other Investment or Financial Items 35.7 30.6 23.9 11.2 Operating profit before working capital changes 85.8 48.3 15.2 22.4 Changes in working capital -42.2 -14.2
Slide 35: Contact Information
Contact Information Company : Investor Relations Advisor : Strategic Growth Advisors Pvt. Ltd. Hind Rectifiers Limited CIN: U74140MH2010PTC204285 CIN: L28900MH1958PLC011077 Mr. Nitin Agarwal / Mr. Karan Thakker Ms. Meenakshi Anchlia E: investors@hirect.com E: nitin.agarwal@sgapl.net / karan.thakker@