Slide 1: Result update cover letter to stock exchanges
November 12, 2024 To, To, National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, Plot No. C/1, G Block, Bandra- Phiroze Jeejeebhoy Towers, Kurla Complex, Bandra (East), Mumbai – 21st Floor, Dalal Street, 400051 Mumbai – 400001 NSE Symbol: RISHABH BSE Scrip Code: 543977 Dear Sir/Madam
Slide 2: Investor Presentation – Q2FY25
RISHABH INSTRUMENTS LIMITED Investor Presentation – Q2FY25 Measure Control Record Analyze Click Here for Rishabh’s Corporate Video
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Rishabh Instruments 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 s
Slide 4: Financial Performance
1 FINANCIAL PERFORMANCE
Slide 5: Management Commentary
Management Commentary Commenting on the Q2FY25 results, Mr Dinesh Musalekar, said, “In Q2FY25, we achieved Consolidated Revenues of INR 1,824 Mn and in H1FY25 we achieved revenue of INR 3,517 Mn, both remained flat on a Y-o-Y basis. The Electronic business in Lumel SA (Poland) and Rishabh (India) ha
Slide 6: Huge Opportunity on Solar Business
HUGE Opportunity on Solar Business…. Launch of PM Suryaghar Muft Bijli Yojana, installing solar panels in Introducing next Market generation 1 crore households. The 2023-24 Budget allocates Rs 7,327 crore Opportunity to solar projects. solar inverters now made in India In-house R&D team has 298% In-
Slide 7: Acquired SCADA Software in H1FY25
Acquired SCADA Software in H1FY25 MICROSYS, spol. s r.o. company was established in 1991 as a Czech company with the headquarters in Ostrava Engaged in development of PROMOTIC visualization software (SCADA) and implementation of applications in the field of industrial process automation Focused on R
Slide 8: Q2 & H1FY25 Consolidated Highlights
Q2 & H1FY25 Consolidated Highlights Revenue (Rs. Mn) Adjusted* EBITDA (Rs. Mn) Operational Highlights ❖Our consolidated revenue for Q2FY25 3,525 3,517 640 stood at INR 1,824 Mn saw a growth of 1.3% YoY basis and 7.7% on QoQ basis. 378 The H1FY25 consolidated revenue 1,801 1,693 1,824 246 remained fl
Slide 9: Q2 & H1FY25 Product wise Revenue
Q2 & H1FY25 Product wise Revenue Q2FY24 Q2FY25 Key Highlights 11.5% 8.0% 0.9% 3.0% ❖ Electrical automation has stood at INR 146 Mn in Q2FY25 and INR 352 Mn in H1FY25. 39.3% 30.5% ❖ Metering and control devices has stood at INR 42.1% 48.8% 892 Mn in Q2FY25 and INR 1,577 Mn in 9.8% H1FY25. 6.1% ❖ Alum
Slide 10: Q2 & H1FY25 Geography wise Revenue
Q2 & H1FY25 Geography wise Revenue Q2FY24 Q2FY25 Key Highlights in the Geography 5.1% 3.7% 1.2% 2.5% 21.7% • Revenue from Europe has stood at INR 1,605 28.3% 43.4% Mn in H1FY25 and INR 794 Mn in Q2FY25 50.9% • Revenue from Poland has stood at INR 707 Mn 21.1% in H1FY25 and INR 405 Mn in Q2FY25 22.1%
Slide 11: Q2 & H1FY25 Consolidated Profit & Loss Statement
Q2 & H1FY25 Consolidated Profit & Loss Statement Profit & Loss [INR Mn] Q2FY25 Q2FY24 YoY Q1FY25 QoQ H1FY25 H1FY24 YoY Revenue from Operations 1,824 1,801 1.3% 1,693 7.7% 3,517 3,525 -0.2% COGS 764 755 744 1,508 1,489 Gross Profit 1,059 1,045 1.3% 949 11.6% 2,009 2,036 -1.3% GP Margin % 58.1% 58.1%
Slide 12: Q2 & H1FY25 Standalone Profit & Loss Statement
Q2 & H1FY25 Standalone Profit & Loss Statement Profit & Loss [INR Mn] Q2FY25 Q2FY24 YoY Q1FY25 QoQ H1FY25 H1FY24 YoY Revenue from Operations 589 629 -6.4% 527 11.7% 1,116 1,197 -6.8% COGS 302 314 271 573 576 Gross Profit 287 315 -9.0% 256 12.2% 542 621 -12.7% GP Margin % 48.7% 50.1% 48.5% 48.6% 51.9
Slide 13: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (INR Mn) Sept-24 Mar-24 Equity & Liabilities (INR Mn) Sept-24 Mar-24 Non - Current Assets 3,521.0 2,894.2 Total Equity 5,892.5 5,637.8 Property Plant & Equipment's 2,540.7 2,395.9 Share Capital 382.2 382.1 CWIP 255.8 123.9 Other Equity 5,469.6 5,208.1 Goodwill 305.3
Slide 14: Consolidated Abridged Cash Flow Statement
Consolidated Abridged Cash Flow Statement Particulars (INR Mn) H1FY25 H1FY24 Net Profit Before Tax 101.1 366.5 Adjustments for: Non -Cash Items / Other Investment or Financial Items 173.9 277.8 Operating profit before working capital changes 275.0 644.2 Changes in working capital 215.3 -146.9 Cash g
Slide 15: About Us
2 ABOUT US
Slide 16: About Rishabh Instruments
About Rishabh Instruments Rishabh Instruments Limited - A Leading Global Energy Efficiency Solution Provider Established in 1982 3000* 145+ 100+ Rishabh Instruments Limited is a leading engineering Global Product Lines Countries company to design, develop Customers Served and manufacture Global Ener
Slide 17: Company Timeline
Company Timeline › Incorporated › Agreement for technical › Sifam Tinsley › Acquisition of Shanghai › Received M-SIPs › Listed on Stock assistance with M/s Instrumentation Yihua V&A approval from Govt. of Exchanges Gossen – Metrawatt Ltd acquired Instrumentation India GmbH Sifam meter and Tinsley pr
Slide 18: Diversified Product Portfolio
Diversified Product Portfolio… Business Segments Metering, Control Portable Test and Aluminium High- Electrical and Protection Measuring Pressure Die- Others Automation Devices Instruments Castings Temperature Temperature Analog Panel Current Rotary CAM Digital Digital Digital I/O Controller and Hum
Slide 19: Leading Market Positioning in Key Segments
… with Leading Market Positioning in Key Segments... Segment wise Leadership Metering, Control Portable Test and Aluminium High- Electrical and Protection Measuring Pressure Die- Others Automation Devices Instruments Castings #1 #3 #2 3mn #1 1st player in Electrical 3rd player in the Digital 2nd pla
Slide 20: Manufacturing Presence across Geographies
… and Manufacturing Presence across Geographies… Our 5 Manufacturing units are in India, Poland and China and 2 modifications center are in UK and US Large facilities with an average spread area of 10,000+ sq. mt. Annual Installed Capacity of 35.5mn products per annum* Current Capacity utilisation i
Slide 21: With Five State of the Art Facilities
With five State of the Art Facilities… Nashik | Indian Manufacturing Facilities Poland | Polish Manufacturing Facilities Lumel SA Facility I Facility 1 spread over 10,240 sq. mt. Facility 1 spread over 12,000 sq. mt. Lumel Alucast Facility II Facility 2 spread over 9,195 sq. mt. Facility 2 spread ov
Slide 22: And two Modification Centres
And two Modification Centres… Shanghai | China Manufacturing Facility Sifam Tinsley | Modification Centre UK Czech Republic | SCADA Software Company US 21
Slide 23: Marquee Clientele Base with long standing relationship
… and Marquee Clientele Base with long standing relationship Note: The Brand Names mentioned are the property of their respective owners and are used here for identification purpose only 22
Slide 24: Serving through our in-house ample capacities
… serving through our in-house ample capacities Total Installed Capacity and Utilisation As of March 31, As of March 31, As of March 31, As of March 31, Total of all Manufacturing Facilities (All Products) 2021 2022 2023 2024 Installed Capacity (Annual Units p.a. in millions) 28.9 30.9 32.2 35.5 Act
Slide 25: A large addressable market
… to a large addressable market Business Segment Global Markets ($ bn) Indian Markets ($ bn) 2022 CAGR 2027E SRM* 2022 CAGR 2027E SRM* 7.8% 9.0% Electrical Automation 147.5 215.1 35.5% 6.4 9.8 35.5% 4.8% 5.5% 34.1 43.1 20.8% 0.7 0.9 13.6% Metering, Control and Protection Devices 5.1% 6.9% 5.1 6.6 52
Slide 26: Backed by History of Strong Acquisitions
Backed by History of Strong Acquisition’s Successful Integration of Acquired Businesses across Geographies to drive growth Poland UK Poland Restructuring China Czech Republic 2012 2013/14 2016 2019 2020 2024 o Acquired Sifam meter o Restructured “Lumel” into o Acquired Shanghai VA o Lumel acquired a
Slide 27: Growth Drivers
3 Growth Drivers
Slide 28: Our Core Expertise
Our Core Expertise Strong and demonstrated management capabilities Acquired a loss-making business in Europe in 2012 and turnaround the company to 18% EBITDA margin Ability to drive technology and innovation through advanced and accredited R&D capabilities New product launch contributed to around 10
Slide 29: Vertically Integrated Business Model
Vertically Integrated Business Model Product Conceptualization Vertical Integration with Die-casting Vertical Integration with Electrical • Uncovers the unarticulated needs of consumers business to produce moulds Post Lifecycle Support • Drives efficiency and consumer manufacturing units value 01 De
Slide 30: In-House R&D Capabilities
In-House R&D Capabilities Launched and developed technology through continuous R&D 3 2 Design Registrations Global Patents Clamp Meter Invented and patented the rotary jaw mechanism and Multimeter, current Clamp meters with rotary safe trigger mechanism for clamp meters and voltage transducer, jaw m
Slide 31: Key Growth Strategies
Key Growth Strategies Promote product Target new customers cessible localization and Capitalize Be Ac and expand existing on company’s presence in customer accounts China, India and Europe ss Ha ompetitivene ve a Reliable Pr ost c o C duc t Continue to pursue long Enhance product term growth strateg
Slide 32: Industry Growth Drivers
Industry Growth Drivers 01 02 Electronics & Semiconductor Connected Vehicle/EV • Rising adoption of Industrial IoT solutions • Aluminum Die Casting expected to receive and integration of OT-IT shop floor significant fillip from EVs • Emphasis on DER* expands the need for • Integrated solutions of hi
Slide 33: Corporate Structure
4 CORPORATE STRUCTURE
Slide 34: Corporate Structure at a Glance
Corporate Structure at a Glance Rishabh Instruments Limited 99.6% Holding 100% Holding 100% Holding 99.94% Holding Energy Solution Labs Pvt. Ltd. Dhruv Enterprises Ltd. Sifam Tinsley Instrumentation Shanghai VA Instrument Co. Ltd. (India) (Cyprus) Inc. (USA) (China) 100% Holding 50.1% Holding 100.0%
Slide 35: Experienced Board of Directors
Experienced Board of Directors Dinesh Kumar Musalekar Narendra Joharimal Goliya Whole Time Director Promoter, Executive Chairman o Experience: 30+ years in manufacturing and electrical industry o Experience: 40+ years in manufacturing and electrical industry o Previously associated with Avire India
Slide 36: Strong Management Team
Strong Management Team Narendra Joharimal Goliya Dineshkumar Musalekar Vishal Kulkarni Promoter, Executive Chairman Executive Director & Group CEO Group CFO o Experience: 40+ years in manufacturing and electrical industry o Experience: 30+ years in manufacturing and electrical industry o Associated
Slide 37: Awards and Accolades
Awards and Accolades 36
Slide 38: Approvals and Certifications
Approvals and Certifications 37
Slide 39: Environmental Health and Safety Management System
Environmental Health and Safety Management System Energy Saving Devices Manufactures wide range of cost-effective process optimization products Zero Carbon Emission – RoHS Compliant • Conservation of natural resources like energy, water by implementation of resource management program • Prevention o
Slide 40: Corporate Social Responsibility
Corporate Social Responsibility IIT Collaboration Tied up with IIT Jodhpur to setup a center for innovation in Green Energy. Started engagement with IIT Bombay as part of the ASPIRE (Applied Science Park for Innovation Research & Entrepreneurship) where RIL will be working on innovative ideas in the
Slide 41: Historical Financial Highlights
5 Historical Financial Highlights
Slide 42: Consolidated Financial Highlights
Consolidated Financial Highlights Revenue (Rs. Mn) Adjusted* EBITDA (Rs. Mn) Profit Before Tax** (Rs. Mn) +4% +21% 6,897.0 +18% 955.5 607.0 592.0 840.6 511.0 5,695.4 729.7 458.0 4,702.5 3,899.6 575.1 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Gross Margins (%) Adjusted* EBITDA Margi
Slide 43: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Profit and Loss (Rs. Mn) FY24 FY23 FY22 FY21 Revenue from Operations 6,897 5,695 4,703 3,900 Cost of Goods Sold 2,899 2,563 1,972 1,562 Gross Profit 3,998 3,132 2,731 2,337 Gross Profit Margin 58.0% 55.0% 58.1% 59.9% Employee Cost 1,786 1,451 1,257 1,149 Other Ex
Slide 44: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Mn) Mar-24 Mar-23 Mar-22 Mar-21 Equity & Liabilities (Rs. Mn) Mar-24 Mar-23 Mar-22 Mar-21 Non - Current Assets 2,894.2 2,391.6 2,313.6 2,320.9 Total Equity 5,637.8 4,087.5 3,461.0 3,021.3 Property Plant & Equipment's 2,395.9 1,926.0 1,943.5 1,980.8 Share Capita
Slide 45: Consolidated Abridged Cash Flow Statement
Consolidated Abridged Cash Flow Statement Particulars (Rs. Mn) FY24 FY23 FY22 FY21 Net Profit Before Tax 510.5 607.2 592.4 458.0 Adjustments for: Non -Cash Items / Other Investment or Financial Items 469.0 285.4 166.8 196.4 Operating profit before working capital changes 979.5 892.6 759.2 654.4 Chan
Slide 46: Consolidated Key Ratios
Consolidated Key Ratio’s Working Capital (Rs. Mn) Debt to Equity Asset Turnover 2,366.9 0.3 0.9 0.9 0.3 0.8 0.3 0.8 1,915.6 1,405.7 0.1 855.8 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Return on Asset* (%) Return on Equity* (%) Return on Capital Employed* (%) =Net Profit / Total Ass
Slide 47: Thank You
T h a n k Yo u . . For more information, please contact Company: Investor Relations Advisor: Rishabh Instruments Limited. Strategic Growth Advisors Pvt. Ltd. CIN - L31100MH1982PLC028406 CIN - U74140MH2010PTC204285 Mr. Ajinkya Joglekar Mr. Nishant Dudhoria / Mr. Vatsal Shah ajinkya.joglekar@rishabh.c