Greaves Cotton Limited · NSE:GREAVESCOT
Greaves Cotton — Q3 FY25 Earnings Presentation
36 slides from Greaves Cotton's earnings presentation, Jan 23, 2025
Slide 1: Cover letter to stock exchanges: Investor Presentation
23rd January, 2025 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 intimation dated 14th January, 2025 and pursuant to Regulation 30 of SEBI (Li
Slide 2: Q3/9M FY25 Earnings Presentation
GREAVES COTTON LIMITED BUILDING THE COMPLETE SUSTAINABLE MOBILITY ECOSYSTEM Q3/9M FY25 Earnings Presentation ENGINEERING ELECTRIC MOBILITY RETAIL FINANCE TECHNOLOGIES
Slide 3: Our Genesis, Purpose and Vision
Our Genesis 165 Business Verticals Years of rich legacy ENGINEERING 90+ Empowering lives Presence across diverse across countries ELECTRIC MOBILITY businesses and customer constituencies Purpose with engineering RETAIL Empowering lives products & services, promoting environmental TECHNOLOGIES stewar
Slide 4: The mobility landscape has changed
The mobility landscape has changed Forces at play Regulations Environment Modern ecosystem Traditional liner driven mobility mobility - synergies, networks, OEM making partnerships, to meet aspirational vehicles the consumers' Consumers aspiring EV Consumer demands for revolution preferences ownersh
Slide 5: Our journey of transformation began in 2016
Our journey of transformation began in 2016 with 3 strategic decisions Up to 2015 2016 onwards Get closer to 1 the customer 2 Offer fuel- agnostic solutions We were the pioneers in Democratise diverse engines 3 sustainable for automotive mobility applications
Slide 6: Strategic measures to turn decisions into reality
We executed 3 strategic measures to turn the decisions into reality Built the Repurposed Redefined “Made in India” the organization the business Developed clean mobility Metal based to electric, EV Ecosystem solutions digital & software based Designing | Engineering | Product development | Manufactu
Slide 7: From single cylinder diesel engine pioneer to mobility ecosystem
We have evolved from being to a a pioneer in pioneer in fuel-agnostic, single cylinder multi-product, multi- diesel engine business Company Company building the complete Single product, single fuel sustainable mobility ecosystem
Slide 8: Diversified into 5 businesses
We leveraged our established engineering legacy and diversified into 5 businesses R Greaves Technologies E Greaves Technologies is a full-service Engineering and R&D (ER&D) and Digital services and solutions supplier partner with extensive V experience E Greaves Finance N Greaves Finance is committe
Slide 9: Our Revenue Mix Changed
Our Revenue Mix Changed A strategy which had the needs of the customer at its core 2016 9MFY25 2030 E- Other, 1% Greaves Mobility, Retail, 22% 23% Board's Greaves Engines , 45% Vision Excel, 9% To achieve INR 15k crore (USD 2B) in revenue by 2030 through a blend of Greaves Greaves Retail, 22% organi
Slide 10: Empowering Lives
With Withaaclear clearpurpose purposeofof Empowering Lives
Slide 11: Q3 & 9M FY25 Financial Highlights
Q3 & 9M FY25 FINANCIAL HIGHLIGHTS 10
Slide 12: GCL Standalone Q3 FY25 Business Snapshot
GCL Standalone Q3 FY25 Business Snapshot ₹ 502 Cr ₹ 343 Cr ₹ 159 Cr ₹ 67 cr ₹ 64 cr. Revenue Engineering Retail EBITDA PBT 13% 14% 13% 13.3% 12.7% Y-o-Y Y-o-Y Margin Margin Y-o-Y ➢ GCL Standalone Revenue 9MFY25 at Rs. 1,415 Cr, up by 9% Y-o-Y. and EBITDA of Rs. 176 Cr. 11
Slide 13: Consolidated Q3 FY25 Business Snapshot
Consolidated Q3 FY25 Business Snapshot ₹ 751 Cr ₹ 343 Cr ₹ 159 Cr ₹ 184 Cr ₹ 40 cr Revenue Engineering Retail E-Mobility EBITDA 13% 14% v 13% 24% Y-o-Y Y-o-Y Y-o-Y Y-o-Y ➢ GCL Consolidated Revenue 9MFY25 at Rs. 2,096 Cr, up by 7% Y-o-Y. and EBITDA of Rs. 90 Cr. 12
Slide 14: De-risking Strategy
De-risking Strategy 9MFY25 9MFY22 CAGR -18% E- E- Other, 1% Mobility, Revenue Mix Mobility, 2,096 26% 23% 4 Greaves Greaves 192 Engines , Engines , 46% 45% Excel, 486 9% 1,090 464 5 Greaves Greaves 285 Retail, 28% Retail, 22% 301 950 ➢ The diversification strategy is contributing to the resilience i
Slide 15: Business Division Disclosures
Business Division Disclosures Greaves Engines 12.0% 12.5% 10.7% Q3FY23 Q3FY24 Q2FY25 Q3FY25 5.5% (Rs. Cr.) Revenues 226 301 310 343 EBITDA 12 36 33 43 Q3FY23 Q3FY24 Q2FY25 Q3FY25 EBITDA Margin (%) 5.5% 12.0% 10.7% 12.5% Revenues EBITDA Margin (%) Greaves Retail Q3FY23 Q3FY24 Q2FY25 Q3FY25 17.9% 21.2
Slide 16: Business Division Disclosures
Business Division Disclosures Excel 27.5% Q3FY24 Q2FY25 Q3FY25 29.2% 30.6% (Rs. Cr.) Revenues 74 61 69 EBITDA 20 18 21 Q3FY24 Q2FY25 Q3FY25 EBITDA Margin (%) 27.5% 29.2% 30.6% Revenues EBITDA Margin (%) 16.9% 14.5% 15.3% GCL + Excel 10.7% Q3FY23 Q3FY24 Q2FY25 Q3FY25 (Rs. Cr.) Revenues 365 517 528 57
Slide 17: Business Division Disclosures - GEML
Business Division Disclosures - GEML E Mobility Q3FY23 Q3FY24 Q2FY25 Q3FY25 (Rs. Cr.) Revenues 132 149 175 184 EBITDA (36) (48) (53) (47) EBITDA Margin (%) (27.4%) (32.2%) (30.0%) (25.7%) Q3FY23 Q3FY24 Q2FY25 Q3FY25 Revenues EBITDA Margin (%) GEML ✓ Revenue growth of 23% y-o-y ✓ Margin improvement j
Slide 18: Financial Snapshot (GCL)
Financial Snapshot (GCL) Particulars (Consolidated) Q3 Growth (%) Q2 Growth (%) 9MFY25 Growth (%) (Rs. Cr.) FY25 FY24 Y-o-Y FY25 Q-o-Q FY25 FY24 Y-o-Y Income from Operations 751 665 13% 705 6% 2096 1961 7% RMC (%) 67.0% 66.1% 69.0% 67.8% 68.6% Other Expenses 208 190 196 585 547 EBITDA 40 35 12% 23 7
Slide 19: Segment Volumes
Segment Volumes Growth Growth Growth Q3 Q2 9M Volumes (Units) (%) (%) (%) FY25 FY24 Y-o-Y FY25 Q-o-Q FY25 FY24 Y-o-Y Engines Auto 26,266 24,735 6% 25,133 5% 74,677 65,872 13% Non-Auto 10,427 9,992 4% 7,695 36% 31,252 33,083 (6%) Engines* 36,693 34,727 6% 32,828 12% 1,05,929 98,955 7% E2W 14,568 10,4
Slide 20: Leverage Profile
Leverage Profile Consolidated (Rs. Cr.) Mar-24 Sep-24 Dec-24 Standalone (Rs. Cr.) Mar-24 Sep-24 Dec-24 Cash & Cash Equivalent 731 637 526 Cash & Cash Equivalent 507 354 337 Short Term Debt 49 57 23 Short Term Debt NIL NIL NIL Long Term Debt - - - Long Term Debt NIL NIL NIL Total Debt 49 57 23 Total
Slide 21: Business Update
BUSINESS UPDATE 20
Slide 22: Greaves Engineering & Excel – Q3 Highlights
Greaves Engineering & Excel – Q3 Highlights Q3 FY25 Performance Highlights: • Sustained revenue growth, coupled with • Non-automotive applications continue to dominate our revenue growth industry-leading profitability • Energy Solutions achieved approximately 20% QoQ growth, driven by strong • Expor
Slide 23: Solutions at the Auto Expo – The Motor Show '25
Greaves Engineering Unveiled Advanced Fuel-Agnostic Mobility Solutions at the Auto Expo – The Motor Show ‘25 Full spectrum of fuel Components, motion control and agnostic engines more Diesel | CNG Engines | ePowertrain | Euro V+ MCC 200 compliant engines | Hydrogen Technology | Bio Controller diesel
Slide 24: New Automated Conveyor Line For E-powertrain
New Automated Conveyor Line For E-powertrain Operated 100% By Women At Shendra, Aurangabad Motors & controllers for applications across: • Automotive | L3 & L5 3 wheelers and 2 wheelers • Non-automotive | Agricultural equipment, Solar, & more basis demand 23
Slide 25: Greaves Retail – Q3 Highlights
Greaves Retail – Q3 Highlights Q3 FY25 Performance Highlights: • Revenue Mix: Spares and services: 75%, 14% from EV components. Both segments expected to maintain strong momentum • Auto Aftermarket: Optimized distribution network by onboarding new distributors in East & North India, phasing out unde
Slide 26: Greaves Retail Unveiled Electric Light Construction Equipment
Greaves Retail Mini Excavator Unveiled Advanced Electric Light Construction Equipment Range VIBROX at bauma CONEXPO India 2024 Scissor Lift Boom Lift VIBRO SMART25
Slide 27: Greaves Electric Mobility – Q3 Highlights
Greaves Electric Mobility – Q3 Highlights Q3 FY25 Performance highlights: Recognitions: 1 India Design Mark Award for Ampere Nexus • Awarded the India Design Mark award in November 2024 • E2W: 2 Exemplary Collaboration Award 2024 o Market Share% at 3.4% in Q3 FY25 • Jubilant FoodWorks recognized GEM
Slide 28: Greaves Electric Mobility – Other Key Updates
Greaves Electric Mobility – Other Key Updates Key Developments: • Proposed IPO: Filed DRHP for GEML’s proposed IPO in December 2024. ▪ GEML proposes to utilize the proceeds for investment in technology development, enhancing capabilities at its technology centre, development of in-house battery asse
Slide 29: GEM Showcased Innovative Product & Services
GREAVES GEM Showcased Innovative Product & Services The company introduced charging solutions, new two-wheeler/three-wheeler concepts and Brand-new variants of its existing best-selling two-wheelers, Nexus and Magnus A AMPERE ~yy8.-., A AMPERE A AMPERE Nc~';!!! (gJ AAMPERE ~RRGC A AMPERE CHARGER 28
Slide 30: Greaves Finance – Q3 Highlights
Greaves Finance– Q3 Highlights • Revenue: Revenue growth of 160% since March 2024 and 350% year-over-year in Q3 FY 2025 • No.of loans: 339% growth (Q3FY25 v/s Q3FY24) • Key Drivers: Expansion into multiple markets, OEM partnerships, and strategic hiring • Low risk & well controlled portfolio • Opera
Slide 31: Company Overview
COMPANY OVERVIEW Greaves Cotton Limited 30
Slide 32: Greaves Today... A Diversified Company
GREAVES Today... A Diversified Company EMPOWERING LIVES • 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. • Greaves’ products are now available in over 90 co
Slide 33: Strong Management Team
Strong Management Team DR. ARUP BASU MR. K. Vijaya Kumar Managing Director ED & CEO, Greaves Electric Mobility (B.E. and PhD in Technology - (MBA) Composite Materials) Expertise Expertise With over 25 years of experience, this With over 30 years of executive seasoned turnaround specialist excels lea
Slide 34: Manufacturing & Distribution Footprint
Manufacturing & Distribution Footprint 21,500 Mechanic 7 Regional Network Offices 10,000+ Retail 8 Factories Network Aurangabad Greater Noida Nagpur Engine & Engine E-Rickshaw Motion Controls Components Manufacturing Manufacturing Manufacturing Hyderabad Ranipet Talegaon 3W Auto & E-Cargo 2W Genset
Slide 35: ESG – Commitment
ESG – Commitment ▪ The Company’s commitment towards the environment is Ranipet facility 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
Slide 36: 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