Greaves Cotton Limited · NSE:GREAVESCOT
Greaves Cotton — Q2 FY2024 Earnings Presentation
27 slides from Greaves Cotton's earnings presentation, Nov 7, 2023
Slide 1: Cover letter to stock exchanges
07th November, 2023 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 27th October, 2023, please find enclosed the presentatio
Slide 2: Advancing Towards a More Sustainable Future
ADVANCING TOWARDS A MORE SUSTAINABLE FUTURE Establishing an Integrated Mobility Ecosystem Q2 and H1 FY2024 Earnings Presentation Nov 8, 2023 1
Slide 3: Q2 FY24 Financial Highlights
Q2 FY24 Financial Highlights Company reported consolidated revenue of Rs. 727 crore for Q2FY24 GCL Q2 FY24 highlights Revenue Rs. 459 Cr ▪ GCL Group Revenue at Rs 727 Cr, up by 4% Y-o-Y & by 28% Q-o-Q ▪ EBITDA up by 7% Y-o-Y. Excel Greaves Revenue ▪ GCL Standalone Revenue at Rs. 459 Cr, up by 23% Y-
Slide 4: Greaves Cotton: Democratising Sustainable Mobility
Greaves Cotton: Democratising Sustainable Mobility Dr. Arup Basu – MD Mr. Sanjay Behl – CEO Mr. Narasimha Jayakumar - CEO E2W and E3W vehicles Spares and Service • Fuel-agnostic Engines and Engine Components Franchise Multi Brand EV Outlets Retail and Business Users • Drive Controls (Rods, Cables, L
Slide 5: Management Commentary
Management Commentary ▪ The partnership between Greaves Cotton Limited and Excel Controlinkage is on a remarkable growth trajectory, with double- digit profits and a double-digit increase in EBITDA, and expanding its portfolio from mechanical to mechatronics to electronics. This transition aligns wi
Slide 6: Greaves Electric Mobility: Subsidy Update
Greaves Electric Mobility: Subsidy Update "Greaves Electric Mobility Private Limited (GEMPL) is a proud Indian company and a leader in India's rapidly expanding EV sector. GEMPL was one of the first companies to enthusiastically support and deliver on the Government's localisation vision. Our legacy
Slide 7: Diversification Strategy Positively Contributing to the Business Growth
Diversification Strategy Positively Contributing to the Business Growth GCL Group Revenue at Rs. 727 Cr 229 374 486 621 660 699 514 827 569 727 68 383 281 318 39 207 237 127 181 141 90 15 379 374 374 365 437 396 459 214 284 302 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 GC
Slide 8: Financial Snapshot
Financial Snapshot Particulars (Consolidated) Q2 Growth (%) Q1 Growth (%) H1 Growth (%) (Rs. Cr.) FY24 FY23 Y-o-Y FY24 Q-o-Q FY24 FY23 Y-o-Y Income from Operations 727 699 4% 569 28% 1,295 1,359 (5%) RMC (%) 69.3% 73.3% 70.8% 69.9% 73.5% Employee Cost 73 50 72 144 96 Other Expenses 105 94 108 213 18
Slide 9: Business Division Disclosures
Business Division Disclosures Greaves Engines Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 (Rs. Cr.) Revenues 253 240 226 296 257 313 EBITDA 7 8 12 23 17 33 EBITDA Margin (%) 2.9% 3.5% 5.5% 7.8% 6.7% 10.5% Greaves Retail Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 (Rs. Cr.) Revenues 122 134 140 140 139 1
Slide 10: Business Division Disclosures
Business Division Disclosures Excel Q1FY24 Q2FY24 (Rs. Cr.) Revenues 39 68 EBITDA 14 22 EBITDA Margin (%) 36.6% 33.0% GCL + Excel Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 (Rs. Cr.) Revenues 374 374 365 437 435 527 EBITDA 27 33 37 52 59 86 EBITDA Margin (%) 7.3% 8.9% 10.2% 11.9% 13.5% 16.3% E Mobili
Slide 11: Leverage Profile
Leverage Profile Consolidated (Rs. Cr.) Sep - 22 Mar - 23 Sep - 23 Standalone (Rs. Cr.) Sep-22 Mar-23 Sep-23 Cash & Cash Equivalent 1,336 1,145 901 Cash & Cash Equivalent 466 559 416 Short Term Debt 18 3 53 Short Term Debt NIL NIL NIL Long Term Debt 50 NIL 0 Long Term Debt NIL NIL NIL Total Debt 68
Slide 12: Segment Volumes
Segment Volumes Growth Growth Growth Q2 Q1 H1 Volumes (Units) (%) (%) (%) FY24 FY23 Y-o-Y FY24 Q-o-Q FY24 FY23 Y-o-Y Engines Auto 24,968 16,207 54% 16,169 54% 41,137 32,319 27% Non-Auto 11,199 9,563 17% 11,239 0% 22,438 19,673 14% Engines* 36,167 25,770 40% 27,408 32% 63,575 51,992 22% E2W 15,616 30
Slide 13: Quarterly Business Updates
Quarterly Business Updates Q2 and H1 FY24 INVESTOR’S PRESENTATION 12
Slide 14: Quarterly Business Updates
Quarterly Business Updates • Product portfolio enrichment • Greaves E2W continues to • Strong overseas footprint is • Partnered with Ather Energy be amongst 'Top 5' leading expected to gain good as preferred financier • Export growth E2W players traction in export business in H2 FY24 • Launched dire
Slide 15: Greaves – Transformation Journey
Greaves – Transformation Journey Q2 and H1 FY24 INVESTOR’S PRESENTATION 14
Slide 16: Empowering Efficient and Sustainable Last Mile Mobility
Empowering Efficient and Sustainable Last Mile Mobility Organised UnOrganised Closer to B2B + B2C sector sector customers Photo Photo • Applications in multiple • 100% focused on EV • Helping enterprises sectors: automotive, industrial, • Extensive last mile financing • India’s leading EV accelerate
Slide 17: Comprehensive Last Mile Ecosystem
Comprehensive Last Mile Ecosystem Engine vertical integration: Engineering Gensets and 3 Wheelers Engines, Gensets and Engineering integration: Engine Components Electric Powertrains and Cables and Sensors Electric Powertrain Single Cylinder Gensets Engines Mobility E2W & E3W 9000 Service and Spares
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 2 Petrol Diesel CNG Hydrogen Electric (Li) Components Solutions Single Cylinder Multi Cylinder Gensets e-Powertrain Engines Engines
Slide 19: Greaves Electric Mobility
Greaves Electric Mobility Existing E2Ws Upcoming E2Ws April 2023 2 Wheelers ZEAL Ex Primus REO NXG Magnus EX City Speed High Speed Low Speed High Speed City Speed Electric Cargo Electric Passenger Other Fuel Types Upcoming E3Ws 3 Wheelers Designed, Developed, Engineered – MADE IN INDIA Q2 and H1 FY2
Slide 20: Greaves Retail: Asset-light Business Spanning E3W and SCV
Greaves Retail: Asset-light Business Spanning E3W and Small Commercial Vehicle (SCV) Full Lifecycle (sales, service, spares) 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 9000
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: Greaves Cotton - Story of Transformation & Success
Greaves Cotton - Story of Transformation & Success Balanced Portfolio of B2B and B2C Business Customer Segment Legacy Segments New Segments 3W Diesel Engine CNG Engine 2W Motor Non-Auto / Institutional Motor Diesel Engine Spares Bus/Trucks Energy Management EV Spares Fuel Agnostic Spares Off-Highway
Slide 23: Robust Manufacturing Capabilities & Reach
Robust Manufacturing Capabilities & Reach Greaves Manufacturing Footprint Transition Strong Presence 163+ Years of Legacy E-Rickshaw Manufacturing at Greater Noida 25 Countries Presence 20,000 Mechanic Network Aurangabad Engine Manufacturing Nagpur Component Manufacturing 9000+ Retail Network Hydera
Slide 24: 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 25: Awards and Recognition
Awards and Recognition Top 25 Brands with Best In- Best Technology Best E-commerce Fleet House Communication Adoption - Cash Vehicle - Zeal EX Professionals 2023 Management Services Third year in a row Most Efficient Delivery Vehicle - Greaves ELTRA Q2 and H1 FY24 INVESTOR’S PRESENTATION 24
Slide 26: 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 27: 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 Varghese M Thomas Anvita Raghuram / Bhushan Khandelwal Greaves