Titagarh Rail Systems Ltd · NSE:TITAGARH
Titagarh Rail Systems — Titagarh Wagons — Q4 FY2020 Earnings Presentation
19 slides from Titagarh Rail Systems's earnings presentation, Oct 8, 2020
Slide 1: Exchange filing cover letter
8th October, 2020 1. National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai 400051 Scrip Code: TWL(EQ) 2. Bombay Stock Exchange Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400001 Scrip Code: 532966 Re.: Earnings Presentation Q4 and FY 2020 De
Slide 2: Earnings Presentation Q4 and FY2020
MOBILITY FOR MILLIONS. GLOBALLY. Titagarh Wagons Ltd (BSE:532966 ; NSE:TWL) Earnings Presentation Q4 and FY2020
Slide 3: FY2020 Financial Highlights
FY2020 Financial Highlights Delivered strong financial performance from core standalone business Total Income EBITDA PBT before Exceptional Items Standalone (Rs. Cr) 37% 8.8% 53% 9.7% 56% 4.2% 3.7% 1,501 146 63 1,095 96 40 FY19 FY20 FY19 FY20 FY19 FY20 Margin (%) Margin (%) Total Income EBITDA PBT C
Slide 4: Total Order Book
Total Order Book Total order book as on Sep-2020: Rs. 5,330 Cr TWL (India) break up Entity wise break up 5% Freight Order Order TWL (India) Book as 46% Book as 47% on Sep on Sep 30, 2020 Transit and 53% 30, 2020 TFA (Italy) 49% Propulsion Others • Diversified order book across Indian and Italian bus
Slide 5: Titagarh Group – Corporate Structure Reorganization
Titagarh Group – Corporate Structure Reorganization Earlier Structure Current Structure TWL TWL Titagarh CEHPL TAPL TCPL TSPL TSPL TFA MTBPL Marine (100%) (100%) (100%) (100%) (100%) (70.62%*) (50%) (100%) *Balance held by TSPL CSPL & Times CIMMCO TFA Marine (75%) (100%) (100%) Over the last five ye
Slide 6: Benefits of Group Reorganization
Benefits of Group Reorganization • Consolidate products in line with plant capacities and bring in efficiencies resulting in creating the plant as a centre of excellence for a particular product • Enable participation in large tenders by meeting the financial eligibility criteria as per the tender c
Slide 7: Performance Update
Performance Update Business Operations Capital Structure • Merger: NCLT sanctioned the Scheme of Amalgamation of • Net debt reduction: Consolidated Net Debt reduced from Cimmco Limited and Titagarh Capital Private Limited: Rs. 776 cr in Mar 2019 to Rs. 630 cr in Mar 2020 subsidiaries of the Company
Slide 8: Update on Titagarh Firema S.P.A (100% Subsidiary)
Update on Titagarh Firema S.P.A (100% Subsidiary) • Despite significant technical and financial challenges, majority of the legacy orders have been Business turnaround executed till March 2020 and the trains are in service • Final phase of delivering remaining orders is expected to complete in FY 20
Slide 9: Financial Performance: Entity-Wise
Financial Performance: Entity-Wise PBT (before Total Income EBIDTA* exceptional item) Company (Rs. Cr) YoY Growth YoY Growth YoY Growth FY20 FY19 FY20 FY19 FY20 FY19 Titagarh Wagons Limited (TWL) 1,501.4 1,094.8 37.1% 146.0 95.9 52.3% 62.9 40.4 55.6% Titagarh Firema SPA, Italy (TFA) 308.1 502.7 (38.
Slide 10: Financial Performance: Consolidated
Financial Performance: Consolidated Q4 Q3 Full Year YoY QoQ YoY Rs. Crores Growth Growth Growth FY2020 FY2019 FY2020 FY2020 FY2019 Total Income 417.6 616.0 (32.2)% 460.9 (9.4)% 1,800.3 1,591.9 13.1% EBITDA 36.5 63.7 (43.0)% 40.6 (10.5)% 155.0 116.0 33.9% Margin (%) 8.7% 10.3% 8.8% 8.6% 7.3% Profit/
Slide 11: Financial Performance: Standalone
Financial Performance: Standalone Q4 Q3 Full Year YoY QoQ YoY Rs. Crores Growth Growth Growth FY2020 FY2019 FY2020 FY2020 FY2019 Revenue 355.6 470.6 (24.4)% 375.5 (5.3)% 1,501.4 1,094.8 37.1% EBITDA 41.5 51.0 (18.7)% 35.2 17.7% 146.0 95.9 52.3% Margin (%) 11.7% 10.8% 9.4% 9.7% 8.8% Profit Before Tax
Slide 12: Annual Financial Performance Trend: Standalone
Annual Financial Performance Trend: Standalone Timely execution of orders and delivering consistent performance Revenue (Rs. Cr) EBITDA (Rs. Cr) 8.8% 9.7% 6.9% 146 23 96 FY18 FY19 FY20 EBITDA Margin (%) PBT before exceptional items (Rs. Cr) 1,501 1,095 63 40 340 2 FY18 FY19 FY20 FY18 FY19 FY20 11
Slide 13: Capital Structure: Standalone
Capital Structure: Standalone Higher asset utilization and reduction in gross debt Rs. Crores Mar-2019 Mar-2020 Fixed Assets (Rs. Cr) and Asset Turnover (x) 2.6x Short Term Debt 206 63 1.9x 566 566 Long Term Debt 93 148 FY19 FY20 Gross Debt 299 211 Fixed Assets Asset Turnover (x) Cash and Cash Net D
Slide 14: Capital Structure: Consolidated
Capital Structure: Consolidated Higher asset utilization and reduction in gross debt Rs. Crores Mar-2019 Mar-2020 Fixed Assets (Rs. Cr) and Asset Turnover (x) 2.2x 1.8x Short Term Debt 294 175 885 825 Long Term Debt 602 554 FY19 FY20 Gross Debt 896 729 Fixed Assets Asset Turnover Cash and Cash Net D
Slide 15: Working Capital Cycle
Working Capital Cycle Standalone Consolidated 341 233 306 190 195 161 151 115 107 121 128 79 81 75 85 98 60 71 70 72 52 42 39 37 FY18 FY19 FY20 FY18 FY19 FY20 Inventory Days Receivable Days Inventory Days Receivable Days Payable Days Working Capital Cycle Payable Days Working Capital Cycle 14
Slide 16: Strategy
Strategy Strategy Status Consolidated Net Debt Update reduced from Rs. 815 cr in Sep 2019 to Rs. 699 cr in Mar 2020 1 Consolidated Net Debt reduced from Rs. 776 cr in Sep 2019 to Rs. 630 cr in Mar 2020 Reduction of Debt Focus on debt reduction going forward Management remains committed to further re
Slide 17: Business Opportunities
Business Opportunities 1 Indian government’s recently announced plan to include private players in 100 Private Train Operations routes across the country expected to increase the demand for wagons 2 Make in India initiative coupled with launch of Dedicated Freight Corridor (DFC), Dedicated Freight m
Slide 18: Disclaimer
Disclaimer This presentation contains statements that are “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Titagarh Wagons’ future business developments and economic performance. While
Slide 19: Titagarh Wagons Limited contact details
Titagarh Wagons Limited Kolkata Registered & Corporate Office Titagarh Towers, 756, Anandapur, E.M. Bypass Kolkata – 700107, West Bengal, India T: +91 33 4019 0800 F: +91 33 4019 0823 E: corp@titagarh.in Delhi Office A-50 Type A, Hortron Complex Electronic City, Sector -18 Gurugram - 122015, Haryana, In