Kaynes Technology India Ltd. · NSE:KAYNES

Kaynes Technology India — Q1 FY25 Earnings Presentation

29 slides from Kaynes Technology India's earnings presentation, Jul 26, 2024

  1. Slide 1: Cover letter to stock exchanges

    July 26, 2024 The Secretary The Secretary National Stock Exchange of India Ltd. BSE Ltd. Exchange Plaza, Plot no. C/1, G Block, Corporate Relationship Dept., Bandra-Kurla Complex, 14th floor, P. J. Tower, Bandra (E), Dalal Street, Fort Mumbai - 400 051 Mumbai - 400 001 Stock Code – KAYNES Stock Code

  2. Slide 2: Kaynes Technology India Limited Earnings Presentation July 2024

    Kaynes Technology India Limited Earnings Presentation | July 2024

  3. Slide 3: Disclaimer

    Disclaimer This presentation has been prepared by Kaynes Technology India Limited (“Company") solely for information purposes without any regard to any specific objectives, financial situations or informational needs of any particular person. This presentation may not be copied, distributed or disse

  4. Slide 4: Quarterly Financial Highlights

    Quarterly Financial Highlights

  5. Slide 5: Q1 FY25 Results Snapshot (Consolidated)

    Q1 FY25 Results Snapshot (Consolidated) ₹ 50,386 mn ₹ 5,040 mn ₹ 669 mn 13.3% Order Book Revenue EBITDA EBITDA Margin ₹ 41,152 mn in FY24 70% YoY 66% YoY -27 bps YoY ₹ 508 mn 10.1 % ₹ 25,352 mn ₹ 5,771 mn Profit After Tax PAT Margin Networth Net Debt 106% YoY 178 bps YoY ₹ 9,824 mn in Q1 FY24 ₹ 972

  6. Slide 6: Consistent quarterly financial performance

    Consistent quarterly financial performance Revenue (₹ Mn) EBITDA (₹ Mn) 6,373 952 5,093 5,040 699 669 3,608 488 2,972 403 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q1FY24 Q2FY24 Q3FY24 Q4FY24 Q1FY25 EBITDA Margins (%) Profit After Tax (Restated) (₹ Mn) 14.9% 813 508 13.7% 452 13.5% 13.5% 323 13.3% 247 Q1FY

  7. Slide 7: Diversified Revenue Mix (Quarterly)

    Diversified Revenue Mix (Quarterly) Revenue across verticals Q1 FY25 Q1 FY24 Automotive Automotive 1% 5% 8% 14% 2% Industrial incl EV Industrial incl EV 29% 32% Aerospace* & Strategic Electronics 11% Aerospace* & Strategic Electronics Medical 5% Medical Railways 3% Railways 55% 36% IoT / IT, Cons an

  8. Slide 8: Consistent quarterly financial performance

    Consistent quarterly financial performance Gross Block (₹ Mn) Asset Turnover ratio (x)1 5.6 3,880 5.2 2,125 Q1FY24 Q1FY25 Q1FY24 Q1FY25 Net Debt/Equity (x) Networth (₹ Mn) 0.2 25,352 0.1 9,824 Q1FY24 Q1FY25 Q1FY24 Q1FY25 Note: Asset Turnover Ratio1 is annualized 7

  9. Slide 9: Consistent quarterly financial performance

    Consistent quarterly financial performance Net Working Capital Days Inventory Days 133 121 121 113 Q1FY24 Q1FY25 Q1FY24 Q1FY25 Receivable Days Payable Days 80 77 72 64 Q1FY24 Q1FY25 Q1FY24 Q1FY25 8 Net working capital is calculated as average inventory days plus average receivable days less average

  10. Slide 10: Q1 FY25 Profit & Loss Statement (Consolidated)

    Q1 FY 25 Profit & Loss Statement (Consolidated) Particulars (₹ Mn) Q1 FY25 Q1 FY24 Y-o-Y Revenue from operations 5,040 2,972 70% Raw material cost 3,664 2,057 78% Employee expenses 335 236 42% Other expenses 372 276 35% EBITDA 669 403 66% EBITDA margin (%) 13.3% 13.5% -27 bps Depreciation and amorti

  11. Slide 11: Company Overview

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  12. Slide 12: Company Overview

    Company Overview Over 3 decades of experience in providing conceptual design, process engineering, integrated manufacturing and life-cycle support to OEMs Leading integrated and IoT enabled solutions provider, having capabilities across the entire spectrum of ESDM1,2 Caters to multiple industry vert

  13. Slide 13: Leading ESDM player with end-to-end Design & Engineering capabilities

    Leading ESDM player with end-to-end Design & Engineering capabilities… Service offering across entire customer value chain Design Industrialization Manufacturing Product End-of-life services services services maintenance services services Prototype OEM Concept to Design manufacturing manufacturing R

  14. Slide 14: Enabled with IoT solutions

    … Enabled with IoT solutions End-to-end connected asset platform, including business applications, managed cloud service, and ODM Device solution Capture Cloud Connect Control KPTR Services – Client Business Apps Network: IP and Non-IP Legacy / New Systems KPTR Applications Gateway & Devices Connect

  15. Slide 15: Diversified product portfolio

    Diversified product portfolio Aerospace, Outerspace & IOT/IT, Cons and others Automotive Industrial & EV Railways Medical Strategic electronics Cluster PCBA Engine Control Panel UM71 - Receiver Endoscopy cart & ICP HH Sonar Bar Code sensor module Scanner & RFID gateway LED Headlamp/Tail Lamp/LED Pos

  16. Slide 16: Capacity for Manufacturing at Scale Augmented by Technical Capabilities

    Capacity for Manufacturing at Scale Augmented by Technical Capabilities Navi Mumbai Kaynes International Design & Manufacturing Pvt Ltd Ahmedabad o 18 SMT Lines Mysuru Unit I o 70 THD Lines Parwanoo Manesar Unit I o 26 Cable Harness Lines Manesar Unit II o 15 plastic molding machines Bengaluru Unit

  17. Slide 17: R&D, Certifications and Supply Chain

    R&D, Certifications and Supply Chain Research and Development Certifications Supply chain Focused on development of new Long term relationship with products and improvement existing suppliers leading to better products credit terms Dedicated research facility at Mysore, Bangaluru & Ahmedabad with a

  18. Slide 18: Well Diversified Business Profile

    Well Diversified Business Profile… Revenue across geographies FY24 Low customer concentration FY24 69% 1% 1% 53% 5% India 3% North America Europe 26% 90% SE Asia Others Top 1 Top 5 Top 10 Revenue across segments Revenue across verticals 1% 2% Automotive OEM – Turnkey – Box Build 7% Industrial incl E

  19. Slide 19: Marquee customer base

    Marquee customer base Industry Key Customers Long standing relationship with clients** Average order inflow per month INR Mn Average business period relationship of top 10 customers in each vertical3 Leading global mfg of electronic 4,758 instruments and Industrial electromechanical devices 9 9 9 9

  20. Slide 20: The Kaynes Advantage - Key Strengths

    The Kaynes Advantage - Key Strengths Well diversified End to end design and Internationally Longstanding business profile across engineering recognized and relationships with top industry verticals : capabilities enabled certified manufacturing global & domestic Address the Low with IoT solutions fa

  21. Slide 21: Financial Highlights

    ~ Financial Highlights

  22. Slide 22: Proven record of consistent financial performance (1/4)

    Proven record of consistent financial performance (1/4) Revenue (₹ Mn) EBITDA (₹ Mn) 18,046 62% CAGR 84% CAGR 2,542 11,261 1,683 7,062 937 4,206 409 FY 21 FY 22 FY 23 FY 24 FY 21 FY 22 FY 23 FY 24 EBITDA Margins (%) Profit After Tax (Restated) (₹ Mn) 14.9% 1,833 14.1% 166% CAGR 13.3% 9.7% 952 417 97

  23. Slide 23: Proven record of consistent financial performance (2/4)

    Proven record of consistent financial performance (2/4) ROE (%) ROCE (%) 24.5% 24.9% 24.4% 24.2% 22.8% 22.0% 13.5% 8.1% FY 21 FY 22 FY 23 FY 24 FY 21 FY 22 FY 23 FY 24 Net Worth (Rs Mn) Gross Block (Rs Mn) 3,680 24,848 1,812 9,577 1,473 1,142 1,365 2,018 FY 21 FY 22 FY 23 FY 24 FY 21 FY 22 FY 23 FY

  24. Slide 24: Proven record of consistent financial performance (3/4)

    Proven record of consistent financial performance (3/4) Inventory Days Receivable Days 93 137 83 104 69 101 97 59 FY 21 FY 22 FY 23 FY 24 FY 21 FY 22 FY 23 FY 24 Payable Days Net Working Capital Days 113 117 86 98 99 73 73 83 FY 21 FY 22 FY 23 FY 24 FY 21 FY 22 FY 23 FY 24 Working capital is compute

  25. Slide 25: Proven record of consistent financial performance (4/4)

    Proven record of consistent financial performance (4/4) Net Debt (₹ Mn) Net Debt/EBITDA (x) 2,177 3.1 1,480 1,252 1.6 0.9 473 0.3 FY 21 FY 22 FY 23 FY 24 FY 21 FY 22 FY 23 FY 24 Net Debt/Equity (x) Asset Turnover ratio (x) 0.9 6.2 0.7 4.8 4.9 3.7 0.0 0.1 FY 21 FY 22 FY 23 FY 24 FY 21 FY 22 FY 23 FY

  26. Slide 26: Profit & Loss Statement (Consolidated)

    Profit & Loss Statement (Consolidated) Particulars (₹ Mn) FY20 FY21 FY22 FY23 FY21 FY22 FY23 FY24 Revenue from operations 4,206 7,062 11,261 18,046 Raw material cost 2,861 4,894 7,801 13,299 Employee expenses 459 602 771 1,028 Other expenses 477 629 1,006 1,178 EBITDA 409 937 1,683 2,542 EBITDA marg

  27. Slide 27: Balance Sheet (Consolidated)

    Balance Sheet (Consolidated) Particulars (₹ Mn) FY21FY20 FY22FY21 FY23FY22 FY24FY23 Gross Block (tangible assets) 979 1,112 1,451 3,276 Accumulated Depreciation 408 473 549 682 Net Block (tangible assets) 571 640 902 2,594 Intangible assets 267 352 426 620 Other non-current assets 165 369 552 3,571

  28. Slide 28: Cash Flow Statement (Consolidated)

    Cash Flow Statement (Consolidated) Particulars (₹ Mn) FY21FY20 FY22FY21 FY23FY22 FY24FY23 Cash flow from operating activities Profit before tax 109 590 1,260 2,316 Adjustment for non-operating items 333 386 452 401 Operating profit before working capital changes 442 976 1,713 2,717 (Increase)/ decre

  29. Slide 29: Thank You

    Thank You COMPANY Kaynes Technology India Limited Jairam P Sampath Whole-time Director & Chief Financial Officer Email: ir@kaynestechnology.net INVESTOR RELATION ADVISORS Sumit Kumar Verma Orient Capital Senior Manager – Investor Relations & Business (A division of Link Intime India Pvt Ltd) Analyst

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