Greaves Cotton Limited · NSE:GREAVESCOT
Greaves Cotton — Q4 FY2023 Earnings Presentation
24 slides from Greaves Cotton's earnings presentation, May 13, 2023
Slide 1: Exchange filing cover letter
GREAVES SINCE 1859 13th May, 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: Investor Presentation In furtherance to our letter dated 8th May 2023 and pursuant to Regulation 30 of SEBI
Slide 2: Q4 and FY2023 Earnings Presentation
Q4 and FY2023 Earnings Presentation (May 15, 2023) © 2023 Greaves Cotton Limited. All rights reserved.
Slide 3: Q4 FY23 Financial Highlights
Q4 FY23 Financial Highlights Company reported highest ever consolidated revenue of Rs. 827 crore for Q4 FY23 FY23 highlights Revenue EBITDA PBT* Rs. 827 Cr Rs. 49Cr Rs. 56 Cr • Historical highest revenue at Rs. 2700 Cr, up 58% +33% growth Margin: 5.9% Margin: 6.8% • Greaves Engineering registered re
Slide 4: Management Commentary
Management Commentary Nagesh Basavanhalli ▪ Our transformation from a B2B to a B2B+B2C company has been Non-Executive Vice Chairman driven by the strength of our three main verticals: Greaves Engineering, Greaves Retail, and Greaves Electric Mobility. Contributing to over 66% Greaves Cotton has achi
Slide 5: Greaves Cotton: Democratising Sustainable Mobility
Greaves Cotton: Democratising Sustainable Mobility Dr. Arup Basu – MD Mr. Sanjay Behl – ED & CEO Mr. Narasimha Jayakumar - CEO • Fuel-agnostic IC Engines, Gensets and E2W and E3W vehicles Spares and Service Powertrain Components Franchise Multi Brand EV Outlets • Powertrain Accessories (Push-Pull Ca
Slide 6: 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 • E2E tech services providing • Over 3-decades of last mile • India’s leading EV multi- financing sectors: automotive,
Slide 7: Comprehensive Last Mile Ecosystem
Comprehensive Last Mile Ecosystem Engine vertical integration: Engineering Gensets and 3 Wheelers Engines, Gensets and Components Engineering integration: Electric Powertrains and Electric Powertrain Agri Engines Gensets Mobility Cables and Sensors E2W and E3W 8000+ Service and spares: Aftermarket R
Slide 8: Greaves Engineering - Cleaner Energy Solutions
Greaves Engineering - Cleaner Energy Solutions Representing Profit Pools of the Future Customer-Centricity at the Core Farm Industrial Infrastructure Transportation Engines Single Cylinder- Diesel 3W Single Cylinder- Diesel 4W Mono and Bi Fuel CNG engine Software wrapped in Metal Components Cables E
Slide 9: Greaves Electric Mobility
Greaves Electric Mobility Existing E2Ws Upcoming E2Ws April 2023 2 Wheelers Magnus EX ZEAL Ex Primus NXG NXU City Speed High Speed High Speed High Speed High Speed Electric Cargo Electric Passenger Other Fuel Types Upcoming E3Ws 3 Wheelers Designed, Developed, Engineered – MADE IN INDIA Q4 and FY23
Slide 10: Greaves Electric Mobility
Greaves Electric Mobility Q4 and FY23 INVESTOR’S PRESENTATION 9
Slide 11: 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 8000
Slide 12: Greaves Finance and Greaves Technologies
Greaves Finance and Greaves Technologies • E2E tech services with a strong established India platform and • 100% focused on EV financing global presence providing local and off-shore expertise • Digital first consumer journey • Offices in India and US, catering to global customers across Americas, E
Slide 13: Diversification Strategy Positively Contributing to Business Growth
Diversification Strategy Positively Contributing to the Business Growth Transitioning to meet the new battery norms impacted EV production and primary revenues in Q3FY23 520 229 374 486 621 660 699 514 827 383 68 237 281 318 181 141 90 457 15 379 374 374 365 437 214 284 302 Q4FY21 Q1FY22 Q2FY22 Q3FY
Slide 14: Financial Snapshot
Financial Snapshot Particulars (Consolidated) Q4 Growth (%) Q3 Growth (%) Full Year Growth (%) (Rs. Cr.) FY23 FY22 Y-o-Y FY23 Q-o-Q FY23 FY22 Y-o-Y Income from Operations 827 621 33% 514 61% 2,700 1,710 58% RMC (%) 75.2% 74.5% 69.3% 73.8% 74.4% Employee Cost 63 42 52 212 170 Other Expenses 92 75 102
Slide 15: Business Division Disclosures
Business Division Disclosures Engineering Q4 (%) Q3 (%) FY23 (%) (Rs. Cr.) FY23 FY22 Y-o-Y FY23 Q-o-Q FY23 FY22 Y-o-Y Revenues 297 254 17% 225 31% 1,015 756 34% EBITDA 23 9 156% 14 71% 52 (23) EBITDA Margin (%) 8% 3% 6% 5% (3%) Retail Q4 (%) Q3 (%) FY23 (%) (Rs. Cr.) FY23 FY22 Y-o-Y FY23 Q-o-Q FY23
Slide 16: Ampere E2W Volumes and Revenues
Ampere E2W Volumes and Revenues Trailing 4 quarters average Net Sales at Rs. 263 Cr, volume at 27,178 units Average sales INR 105 Cr Average sales INR 263 Cr * 376 293 272 207 144 111 43 51 61 33 9 8 Q1FY21 Q2FY21 Q3FY21 Q4FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Average units –
Slide 17: Leverage Profile
Leverage Profile (Rs. Cr.) Mar-22 Sep-22 Dec -22 Mar -23 Cash & Cash 438 1,336 1,175 1.145 Equivalent Short Term Debt 64 18 4 3 Since its entry into electric mobility, Greaves as a group has raised and committed close to INR 1500 crores for: Long Term Debt 169 50 - - • New products • Manufacturing(
Slide 18: Segment Volumes
Segment Volumes Growth Growth Growth Q4 Q3 FY23 Volumes (Units) (%) (%) (%) FY23 FY22 Y-o-Y FY23 Q-o-Q FY23 FY22 Y-o-Y Engines Auto 20,147 15,068 34% 18,327 10% 70,793 41,302 71% Non-Auto 13,579 10,401 31% 8,585 58% 41,837 39,370 6% Engineering* 33,726 25,469 32% 26,912 25% 112,630 80,672 40% E2W 36
Slide 19: Robust Manufacturing Capabilities & Reach
Robust Manufacturing Capabilities & Reach GREATER NOIDA 3W Rickshaw 163+ YEARS OF LEGACY manufacturing Engines manufacturing consolidation – Aurangabad 1800+ 25 COUNTRIES PRESENCE EMPLOYEES Aurangabad (2) & Talegaon Engine Manufacturing HYDERABAD 3W auto & E-cargo manufacturing 7 20000+ REGIONAL OFF
Slide 20: Greaves Transformation Journey - Full-stack Mobility Player
Greaves Transformation Journey - Full-stack Mobility Player 66% of business from B2C segment Financing Service Retail International Market Access Spares e3W Competitive across entire automotive Value Full-service offering e2W Strong New Growth Leadership Acquisitions Opportunities Value chain Strate
Slide 21: 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 22: Awards and Recognition
Awards and Recognition Great Place to Work- April 2023 Third year in a row Q4 and FY23 INVESTOR’S PRESENTATION 21
Slide 23: 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 24: 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 Varghese M Thomas Anvita Raghuram / Bhu