Greaves Cotton Limited · NSE:GREAVESCOT
Greaves Cotton — Q4 FY2024 Earnings Presentation
32 slides from Greaves Cotton's earnings presentation, May 8, 2024
Slide 1: Cover letter to stock exchanges: Investor Presentation
08th May, 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 03rd May, 2024 and pursuant to Regulation 30 of SEBI (Listing Obligati
Slide 2: Transformation for Sustainable Growth. Empowering Lives. Q4 and 12M FY2024 Earnings Presentation
TRANSFORMATION FOR SUSTAINABLE GROWTH. EMPOWERING LIVES. Q4 and 12M FY2024 Earnings Presentation GREAVES COTTON LIMITED
Slide 3: Engineering Excellence & Trust Are Being Leveraged To Build The Complete Mobility Ecosystem
Engineering Excellence & Trust Are Being Leveraged To Build The Complete Mobility Ecosystem In India ENGINEERING ELECTRIC MOBILITY RETAIL TECHNOLOGIES FINANCE Q4 AND 12M FY24 INVESTOR’S PRESENTATION 2
Slide 4: Empowering Lives With A Clear Objective Across Businesses
Empowering Lives With A Clear Objective Across Businesses Empowering lives across diverse businesses and customer constituencies with engineering solutions, aimed at promoting environmental stewardship and community well-being. Democratising smart & sustainable mobility solutions Empowering liveliho
Slide 5: Empowering Lives
Empowering Lives Dr. Arup Basu – MD Mr. K. Vijaya Kumar – Mr. Narasimha Jayakumar - ED & CEO CEO Fuel-agnostic Engines and Engine Components Multi-brand spares (2W, 3W, CE) Excel Controlinkage E2W and E3W vehicles EV Solutions Drive Controls (Rods, Cables, Levers ) Retail and Business Users Multi-br
Slide 6: Synergies Across Businesses To Build The Complete Mobility Ecosystem
Synergies Across Businesses To Build The Complete Mobility Ecosystem Innovating bespoke design Democratising smart & sustainable Empowering livelihoods and businesses engineering and precision mobility solutions through clean mobility & other business manufacturing solutions, enabling solutions moti
Slide 7: Management Commentary
Management Commentary ▪ Greaves Engineering has been maximizing competitiveness with a versatile product portfolio adaptable to various fuels, complemented by cost-efficient strategies, synergistic partnerships, and an expanding global presence in the USA and EU. ▪ The collaboration with Excel Contr
Slide 8: FY24 GCL Standalone Financial Highlights
FY24 GCL Standalone Financial Highlights FY24 Greaves Cotton reported revenue of Rs.1,779 crores GCL 3 Year Growth Journey GCL Revenues EBITDA Margin (%) Revenue 13.0% Rs. 9.8% Greave 1,779Cr 3.7% Engines Greaves Retail 1,779 Revenue 1,550 Revenue 1,178 Rs. Rs. 1,191Cr 587 Cr FY22 FY23 FY24 PBT Rs.
Slide 9: FY24 Excel Controlinkage Financial Highlights
FY24 Excel Controlinkage Financial Highlights FY24 Excel reported revenue of Rs.263 crores FY24 highlights Revenue EBITDA EBITDA Margin ➢ Excel Revenue for FY24 at Rs. 263 crores Rs. 263 Cr Rs. 81 Cr @ 30.8% • Revenue grown by 41% Y-o-Y • 5 Year Revenue CAGR – 26% Excel 3 Year Growth Journey Revenue
Slide 10: FY24 Greaves E-Mobility Financial Highlights
FY24 Greaves E – Mobility Financial Highlights FY24 Greaves E Mobility Reported revenue of Rs.612 crores FY24 highlights Revenue EBITDA PBT Rs. 612 Cr Rs. (206 Cr) Rs. (216Cr) ➢ Revenue for FY24 at Rs. 612 crores ➢ E3W Sales Volume Increase by 97%, From 7k Unit to 13k units Y-o-Y E – Mobility 5 Year
Slide 11: Quarterly Business Updates
Quarterly Business Updates Q4 AND 12M FY24 INVESTOR’S PRESENTATION 10
Slide 12: Quarterly Business Updates
Quarterly Business Updates • Diversified product portfolio that • Ampere maintains its 5th position • Maintains leadership position in • Financing partnerships with 8 can operate on multiple fuels and with a market share of 2.8% in Q4 the automotive aftermarket leading electric 2W OEMs fuel mixtures
Slide 13: Our Margin Improvement Journey
Our Margin Improvement Journey EBITDA Margins Engines Retail GCL 20.7% 20.9% 21.4% 19.8% 17.8% 17.9% 17.5% 16.5% 15.2% 13.9% 11.9% 12.6% 11.7% 10.7% 11.3% 10.5% 8.9% 8.7% 7.3% 7.8% 6.7% 5.5% 2.9% 3.5% Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 EBITDA Table EBITDA% Q1FY23 Q2FY23 Q3FY23 Q
Slide 14: Diversification Strategy Positively Contributing to the Business Growth
Diversification Strategy Positively Contributing to the Business Growth GCL Group Revenue at Rs. 673 Cr 374 486 827 569 727 665 673 621 660 699 514 68 74 66 383 281 318 39 207 149 121 237 127 181 141 90 379 437 396 459 443 481 284 302 374 374 365 Q2FY22 Q3FY22 Q4FY22 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY
Slide 15: Financial Snapshot
Financial Snapshot Particulars (Consolidated) Q4 Growth (%) Q3 Growth (%) Growth (%) FY24 FY23 (Rs. Cr.) FY24 FY23 Y-o-Y FY24 Q-o-Q Y-o-Y Income from Operations 673 827 -19% 665 1% 2,633 2,699 (2%) RMC (%) 67.4% 74.4% 66.1% 68.3% 73.0% Employee Cost 84 63 82 311 212 Other Expenses 111 99 108 431 384
Slide 16: Business Division Disclosures
Business Division Disclosures Greaves Engines Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 (Rs. Cr.) Revenues 253 240 226 296 257 313 301 320 EBITDA 7 8 12 23 17 33 38 28 EBITDA Margin (%) 2.9% 3.5% 5.5% 7.8% 6.7% 10.5% 12.6% 8.7% Greaves Retail Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q
Slide 17: Business Division Disclosures
Business Division Disclosures Excel Q1FY24 Q2FY24 Q3FY24 Q4FY24 (Rs. Cr.) Revenues 39 68 74 66 EBITDA 14 22 20 20 EBITDA Margin (%) 36.6% 33.0% 27.5% 30.8% GCL + Excel Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Q2FY24 Q3FY24 Q4FY24 (Rs. Cr.) Revenues 374 374 365 437 435 527 517 547 EBITDA 27 33 39 52 59 86
Slide 18: Leverage Profile
Leverage Profile Consolidated (Rs. Standalone (Rs. Cr.) Mar-23 Sep-23 Dec-23 Mar - 24 Mar - 23 Sep - 23 Dec - 23 Mar - 24 Cr.) Cash & Cash Cash & Cash 1,145 901 654 731 559 416 405 507 Equivalent Equivalent Short Term Debt 3 53 52 49 Short Term Debt NIL NIL NIL NIL Long Term Debt NIL NIL NIL NIL Lon
Slide 19: Segment Volumes
Segment Volumes Growth Growth Growth Q4 Q3 Volumes (Units) (%) (%) FY24 FY23 (%) FY24 FY23 Y-o-Y FY24 Q-o-Q Y-o-Y Engines Auto 22,974 20,147 14% 24,735 (7%) 88,846 70,793 26% Non-Auto 14,323 13,579 5% 9,992 43% 47,406 41,837 13% Engines* 37,297 33,726 11% 34,727 7% 136,252 112,630 21% E2W 8,948 36,8
Slide 20: Transformation Journey
Transformation Journey Our transition towards producing sustainable mobility products while contributing to environmental conservation and meeting the evolving needs of customers and society 19
Slide 21: Powering Transformation for Sustainable Growth
Powering Transformation for Sustainable Growth • Applications in multiple sectors: • Extensive last mile mobility experience • Distribution of EV components and automotive, industrial, agriculture, & domain leadership EV power train for aftermarket infrastructure, construction, and marine • A dive
Slide 22: Comprehensive Last Mile Ecosystem
Comprehensive Last Mile Ecosystem Engine vertical integration: Engine Components and Engineering Gensets Engines, Gensets and Engineering integration: Engine Components Electric Powertrains and Cables and Sensors Electric Powertrain Single Cylinder Gensets Engines Mobility E2W & E3W 9000+ Service an
Slide 23: Engineering Portfolio
Engineering Portfolio AUTOMOTIVE NON-AUTOMOTIVE INDUSTRIAL Highly fuel efficient, the Greaves The company has a wide range of non- The engines in this category are lightweight diesel/gasoline engines auto engines that are fuel-efficient, suitable for higher HP applications are ideal for automotive e
Slide 24: Portfolio of E2 & E3 Wheelers
Portfolio of E2 & E3 Wheelers Designed, Developed, Engineered – MADE IN INDIA 2 Wheelers Existing E2Ws Launch in Q1 FY25 Magnus EX/ LT Zeal CA EX Primus REO Nexus City Speed City Speed14 High Speed Low Speed High Performance Family Existing 3Ws Upcoming E3Ws 3 Wheelers Eltra Cargo Eltra City Other F
Slide 25: Greaves Retail: Asset-light Business Spanning E3W and SCV Full Lifecycle
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 9000+ retailers, approx
Slide 26: Greaves Retail Apps and Platform Ecosystem
Greaves Retail Apps and Platform Ecosystem – Can be extended to GCL Greaves Loyalty App – For Service Booking & Garage Quick Commerce App Distributor Management System + Mechanics Management App– For Greaves Care for Spares Ordering Greaves Loyalty App for Retailers Outlets Live Live WIP, Q2,FY25 WI
Slide 27: Greaves Finance and Greaves Technologies
Greaves Finance and Greaves Technologies • 100% focused on EV financing • Establishing Technology and Delivery Platforms for future • Digital first consumer journey growth • "evfin", an innovative platform for electric vehicle financing • Transitioning expertise from core competencies in Design/Virt
Slide 28: Robust Manufacturing Capabilities & Reach
Robust Manufacturing Capabilities & Reach Greaves Manufacturing Footprint Transition STRONG REACH 163+ Years of Legacy Greater Noida: E-Rickshaw 34 Countries Presence Manufacturing 20,000 Mechanic Network Aurangabad: Engine Manufacturing 9000+ Retail Network Nagpur: Component Manufacturing Talegaon
Slide 29: 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 30: Awards and Recognition
Awards and Recognition Greaves Cotton Limited has Ampere has been awarded Greaves Engineering was been honoured with the for "The Best Digital & Social honoured with the Persisting "Treasure Innovator of the Year" Media Campaign," 2nd runner- Affiliation Award from Piaggio Award at the India Treasur
Slide 31: 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 32: 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 Anvita Raghuram / Chetna Patil J-2, MID