Greaves Cotton Limited · NSE:GREAVESCOT
Greaves Cotton — Q2 & H1 FY2025 Earnings Presentation
26 slides from Greaves Cotton's earnings presentation, Nov 12, 2024
Slide 1: Cover letter to stock exchanges: Investor Presentation
12th November, 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: Investor Presentation In furtherance to our letter dated 07th November, 2024 and pursuant to Regulation 30 of SEBI (List
Slide 2: Q2 & H1 FY2025 Earnings Presentation
GREAVES COTTON LIMITED BUILDING A DIGITALLY INTEGRATED, SUSTAINABLE MOBILITY ECOSYSTEM Q2 & H1 FY2025 Earnings Presentation ENGINEERING ELECTRIC MOBILITY RETAIL FINANCE TECHNOLOGIES
Slide 3: Our Genesis, Mission and Vision
Our Genesis Business Verticals ENGINEERING 160+ Mission Empowering lives ELECTRIC MOBILITY across diverse Years of Empower lives and businesses and rich legacy livelihood customer RETAIL constituencies with engineering products & services, promoting Vision TECHNOLOGIES environmental stewardship and
Slide 4: Greaves Ecosystem: Empowering Efficient & Sustainable Last Mile Mobility
Greaves Ecosystem: Empowering Efficient & Sustainable Last Mile Mobility ev.fin, a 100% EV-focused NBFC, uses advanced India’s #1 Retail & distribution company which is a technology and asset understanding to offer EV fuel-agnostic provider, offering comprehensive tailored financing solutions and a
Slide 5: Where Are We Today?
Where Are We Today? Greaves Cotton 2.0 Greaves Cotton 1.0 • Value chain extraction across the lifecycle • Single product/category • LMM ecosystem • B2B Business • Presence across multiple • Small TAM segments • High cyclicality • B2B2C • High client concentration • Diversified revenue stream with la
Slide 6: Q2 & H1 FY25 Financial Highlights
Q2 & H1 FY25 FINANCIAL HIGHLIGHTS 5
Slide 7: GCL Standalone Q2 FY25 Business Snapshot
GCL Standalone Q2 FY25 Business Snapshot ₹ 468 Cr ₹ 310 Cr ₹ 158 Cr ₹ 59 cr ₹ 56 cr. Revenue Engineering Retail EBITDA PBT 2% 1% 8% 12.6 12.0% % • Q2FY25 GCL Standalone Revenue at Rs. 468 Cr, up by 5% Q-o-Q, and EBITDA at Rs. 59 Cr up by 18% Q-o-Q. • EBITDA Margin at 12.6% up by 130 bps Q-o-Q • GCL
Slide 8: Consolidated Q2 FY25 Business Snapshot
Consolidated Q2 FY25 Business Snapshot ₹ 705 Cr 52 % 22% 24% ₹ 23 cr. Revenue Engineering Retail E-Mobility EBITDA 10 % • Q2FY25 GCL reported consolidated Revenue at Rs. 705 Cr, ➢ Greaves Engines Revenue up by 4% Q-o-Q ➢ Greaves Retail Revenue up by 8% Q-o-Q ➢ Greaves E Mobility Revenue up by 37% Q-
Slide 9: Business Division Disclosures
Business Division Disclosures 10.6% 9.1% 10.7% Greaves Engines Q2FY23 Q2FY24 Q1FY25 Q2FY25 (Rs. Cr.) 3.5% Revenues 240 313 297 310 EBITDA 8 33 27 33 Q2FY23 Q2FY24 Q1FY25 Q2FY25 EBITDA Margin (%) 3.5% 10.6% 9.1% 10.7% Revenues EBITDA Margin (%) 16.5% 17.8% 20.7% Greaves Retail 15.3% Q2FY23 Q2FY24 Q1F
Slide 10: Business Division Disclosures
Business Division Disclosures • The diversification strategy is contributing to the Excel Q2FY24 Q1FY25 Q2FY25 resilience in revenues (Rs. Cr.) Revenues 68 63 61 EBITDA 22 17 17 • Continued focus on margin improvement yielding EBITDA Margin (%) 33.0% 27.6% 28.2% results both in terms of growth in EB
Slide 11: Financial Snapshot
Financial Snapshot Particulars (Consolidated) Q2 Growth (%) Q1 Growth (%) H1 Growth (%) (Rs. Cr.) FY25 FY24 Y-o-Y FY25 Q-o-Q FY25 FY24 Y-o-Y Income from Operations 705 727 (3%) 640 10% 1345 1,295 4% RMC (%) 69.0% 69.3% 67.4% 68.3% 69.9% Other Expenses 195 177 181 376 357 EBITDA 23 46 (50%) 27 (16%)
Slide 12: Segment Volumes
Segment Volumes Q2 Growth (%) Q1 Growth (%) H1 Growth (%) Volumes (Units) FY25 FY24 Y-o-Y FY25 Q-o-Q FY25 FY24 Y-o-Y Engines Auto 25,133 24,968 1% 23,278 8% 48,411 41,137 18% Non-Auto 7,695 11,199 (31%) 13,130 (41%) 20,825 23,091 (10%) Engines* 32,828 36,167 (9%) 36,408 (10%) 69,236 64,228 8% E2W 12
Slide 13: Leverage Profile
Leverage Profile Consolidated (Rs. Cr.) Sep-23 Mar-24 Sep-24 Standalone (Rs. Cr.) Sep-23 Mar-24 Sep-24 Cash & Cash Equivalent 901 731 637 Cash & Cash Equivalent 416 507 354 Short Term Debt 53 49 57 Short Term Debt NIL NIL NIL Long Term Debt 0 - - Long Term Debt NIL NIL NIL Total Debt 53 49 57 Total
Slide 14: Business Update
BUSINESS UPDATE 13
Slide 15: Greaves Engineering – Market scan
Greaves Engineering – Market scan Commercial Vehicles – Industry Update Gensets Industry trend India Fuel-mix of L5 ICE: • Commercial Vehicle industry saw an 11% YoY • The Indian diesel genset market is projected • Diesel dominates the L5 decline in Q2 FY25, impacted by slowdown in grow at a CAGR of
Slide 16: Greaves Engineering & Excel – Q2 Highlights
Greaves Engineering & Excel – Q2 Highlights • Financial Performance • Industry-Leading Profitability: Excel maintained industry-leading o Engines and Energy solutions segments both performed well profitability, suggesting efficient operations and a robust business model o Automotive Engines: Strong
Slide 17: Greaves Retail & Greaves Finance – Q2 Highlights
Greaves Retail & Greave Finance – Q2 Highlights • Market share: Market leadership in 3W (ICE) parts segment and • Market Share & Growth: Secured a 12% market share gaining market share in the E3W (L3) Powertrain Biz with a low net bounce rate of 5.7%, supported by strong dealer partnerships and top
Slide 18: GEM Industry Analysis – E 2W & 3W Growth Prospects
GEM Industry Analysis – E 2W & 3W Growth Prospects Industry grew by 29% QoQ with a peak of 107K units in Jul’24 due to ambiguity around subsidy continuation E-2W Industry Volume (‘000) L3 Industry Volume (‘000) L5 Industry Volume (‘000) 1,000 12% 944 14% 600 532 2.5% 700 634 1.0% 900 2.0% 0.8% 0.9%
Slide 19: Greaves Electric Mobility – Q2 Highlights
Greaves Electric Mobility – Q2 Highlights • Market Leadership: GEM is a key player in the E2W and 3W segments, focusing on affordable mobility solutions to promote "Har Gully Electric." • Sales Growth: Retail sales surged by 30% in 3W and 20% in E2W QoQ, driven by a remarkable festive season with 30
Slide 20: Company Overview
COMPANY OVERVIEW Greaves Cotton Limited 19
Slide 21: Greaves Today... A Diversified Company
GREAVES Today... A Diversified Company • Starting from a single diesel engine product, Greaves has now expanded to cater to multi-fuel, electric, and fuel-agnostic products, including motors, controllers, cables, gensets, and more. EMPOWERING • Greaves’ products are now available in over 90 countrie
Slide 22: Strong Management Team
Strong Management Team DR. ARUP BASU MR. K. Vijaya Kumar MR. Narasimha Jayakumar Managing Director ED & CEO, Greaves Electric Mobility CEO, Greaves Retail (B.E. and PhD in Technology - (MBA) (MBA, B.Tech and PGDM, Composite Materials) Marketing, Strategy) Expertise Expertise With over 25 years of ex
Slide 23: Manufacturing & Distribution Footprint
Manufacturing & Distribution Footprint 20,000 Mechanic Network 7 Regional Offices 10,000+ Retail Network 8 Factories Aurangabad Greater Noida Nagpur Engine & Engine E-Rickshaw Motion Controls Components Manufacturing Manufacturing Manufacturing Hyderabad Ranipet 3W Auto & Talegaon 2W E-Cargo Genset
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: Corporate Social Responsibility
Corporate Social Responsibility Initiatives with impact across diverse segments Training, reskilling and coaching Training, reskilling and coaching Training, reskilling and coaching Training and reskilling e-rick drivers for their better farmers for better earnability and fishermen for their better
Slide 26: Thank You
THANK YOU REGISTERED OFFICE For further information, please contact Greaves Cotton Limited Akhila Balachandar Suraj Digawalekar / Jenny Rose J-2, MIDC Industrial Area, Chikalthana, Aurangabad – 431 210 India Chief Financial Officer Kunnappally CIN – L99999MH1922PLC000987 Greaves Cotton Limited CDR I
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