Gensol Engineering Limited · NSE:GENSOL
Gensol Engineering — H1 FY25 Earnings Presentation
34 slides from Gensol Engineering's earnings presentation, Oct 27, 2024
Slide 1: Investor Presentation for H1 FY25 (exchange cover letter)
Date: October 27, 2024 To, The Corporate Relations Department National Stock Exchange of India Limited BSE Limited Exchange Plaza, 5th Floor, Plot No. C/1, PJ Towers, 25th Floor, G Block, Bandra-Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Company Scrip Code: 542851
Slide 2: Q2 & H1 FY'25 Results Investor Presentation
Q2 & H1 FY’25 Results Investor Presentation Gensol Engineering Ltd. Empowering Future Exploring Energy Alternatives www.gensol.in 1
Slide 3: Safe Harbour
Safe Harbour This presentation by Gensol Engineering Ltd. (mentioned here with brand name “Gensol”) provides general background information about the Company and its activities as on the date of this presentation and is solely for information purposes. Neither this presentation nor any part thereof
Slide 4: Table of Contents
Table of Contents • Industry Overview • Business Overview • Business Segments • Performance Highlights • Appendix- Gensol Corporate Details 3
Slide 5: Industry Overview
Industry Overview 4
Slide 6: Tailwinds for the Renewable Energy Sector in India
Tailwinds for the Renewable Energy Sector in India Cumulative India energy capacity additions (GW) India’s Renewable Energy market ● India stands 4th globally in renewable energy installed capacity ● Renewable energy installations have increased fivefold to ~200 GW as of August 2024, as compared wit
Slide 7: Solar Energy to drive Bulk of the RE transition in India
Solar Energy to drive Bulk of the RE transition in India India ranks 5th globally in terms of Installed Solar Power Share of Solar Energy in India’s total energy capacity is Capacity with huge untapped potential estimated to increase to 37% by FY30P India energy capacity (GW) 70 82 750 0 GW GW 37% C
Slide 8: BESS industry on the rise in India with rapid growth
BESS industry on the rise in India with rapid growth Installed BESS Capacity Required BESS Capacity ▪ As renewable energy penetration scales up, Energy Storage as on Aug’24 by FY30 Systems (“ESS”) are expected to play a critical role ▪ BESS is one of the most promising of existing energy storage 0.2
Slide 9: India's EV Growth & Adoption
India’s EV Growth & Adoption Key Enablers for EV Growth in India Total EV sales per annum (mn) in India ● Supportive Government Policies 10.0- 10.2 o FAME II Scheme o PLI Scheme for Automotive Sector o PLI Scheme for Advanced Chemistry Cell (ACC) Battery Storage 1.5 o Various State Policies for adop
Slide 10: India's EV Leasing Growth & Adoption
India’s EV Leasing Growth Indian EV Leasing Market Size (in INR cr) & Adoption 7,000 40% - 45% Benefits of EV Leasing 60,000- - 65,000 8,000 CAGR Leasing offers tax benefits, allowing EV drivers to access substantial government incentives even without vehicle ownership FY24 FY30P Concerns regarding
Slide 11: Business Overview
Business Overview 1 0
Slide 12: A Key Part of India's Energy Transition Story
A Key Part of India’s Energy Transition Story A Leader in Renewable Energy Thriving in a Booming Market The company’s track record of successful With global shifts towards sustainability, project execution underlines its reliability the solar energy market is poised for and capability in service del
Slide 13: Gensol Engineering at a Glance
Gensol Engineering at a Glance ₹3,400 Cr ₹ 8,300 Cr + 570+ Unexecuted Orderpipeline 1 Employees across Total renewable ₹2,000 Cr + revenue visibility 3 Solar, Leasing and Manufacturing Contracts under award 2 z 33,693 MW+ ₹ 1,477 Cr 8,300+ Historical foundation of Trailing Twelve Months EVs on lease
Slide 14: Key Milestones
Key Milestones Scaling Further On the Path to Transition -Migrated to Main Board on Gensol Engineering both NSE and BSE -Gensol Engineering Ltd. listed Incorporated on BSE SME platform Engineering & strategic -Acquired Scorpius Trackers advisory services for solar - Forayed into EV Leasing PV launch
Slide 15: Business Segments
Business Segments 14
Slide 16: Gensol's Business Segments
Gensol’s Business Segments Solar Financial Year Leasing Manufacturing Solar EPC Solar Panel Tracking Tech EV Leasing EV Manufacturing Amongst India's leading Amongst global solar panel Tailor-made EV leasing & fleet Contributing to urban mobility solar EPC firms tracking technology providers managem
Slide 17: Solar Segment - Key Highlights
Solar Segment - Key Highlights Solar EPC (India) Solar EPC (Middle-East) Scorpius Trackers BESS ● Won a large EPC award for INR ● Newly incorporated ● Strategic acquisition in FY’24 ● Project developer for 463 Crores solar plant at Gujarat’s subsidiary in FY’24 ● Portfolio includes patented standalo
Slide 18: EV Leasing Segment
EV Leasing Segment Comprehensive EV Leasing and Fleet End of Term Vehicle Acquisition Insurance Management solutions Services & Leasing Management ● Gensol offers 100% EV focused Leasing solutions ● New subsidiary Gensol EV Lease Pvt. Ltd. incorporated in FY24. Recently branded as “Let’sEV” Charging
Slide 19: EV Leasing Segment
EV Leasing Segment EV Assets Segmentation Offered Target Customer Segmentation PSU & Government Fleet Operators (Ride hailing, Employee Departments Transportation, Rent A Car) 4-Wheeler Two Light Passenger and Wheelers Commercial Cargo Large MNC’s & Indian Vehicles (LCV) Retail Subscription Business
Slide 20: EV Manufacturing Segment
EV Manufacturing Segment ▪ Affordable, smart, urban-mobility focused electric vehicle - Proudly "Made in India" ▪ Design, size, weight and range engineered keeping in mind the Play with solid fill urban fleet and cargo, & subsequently the urban passenger segment ▪ First ARAI Approval received in lat
Slide 21: Visual Highlights of EV Manufacturing Plant
Visual Highlights of EV Manufacturing Plant ● Greenfield “designed for electric” manufacturing plant in Chakan, Pune ● Manufacturing Capacity – 30,000 units p.a. ● In-plant testing track coupled with next- generation end-of-line vehicle testing facility *Embark on a Virtual Journey of the plant: Cli
Slide 22: Performance Highlights
Performance Highlights 21
Slide 23: H1 FY25 Consolidated Financial Highlights
H1 FY25 Consolidated Financial Highlights Total Revenue* (₹ Cr) EBITDA* (₹ Cr) & EBITDA Margin % PBT (₹ Cr & Margin %) 49% 138% 24% YoY Growth YoY Growth YoY Growth PAT (₹ Cr & Margin %) ROCE%** Basic EPS (in ₹) 52% YoY Growth *Total Revenue & EBITDA includes other income 22 ** ROCE = EBIT/(Total De
Slide 24: Segmental Consolidated Revenue Performance
Segmental Consolidated Revenue Performance Solar EV Lease Revenue (₹ Cr) & segment Margin (%) Revenue (₹ Cr) & segment Margin (%) Half Yearly 8% 75% YoY Growth YoY Growth Revenue (₹ Cr) Revenue (₹ Cr) Note - Historical financials are restated basis 57% -36% Quarterly updated accounting YoY Growth Yo
Slide 25: H1 FY25 Balance Highlights
H1 FY25 Balance Highlights Working Capital & Days Net Debt & Ratios For Solar Business Cash flow from operations H1 FY25 ₹ 154 Cr Particulars (₹ Cr) Mar’24 Sep’24 Total Debt 1,396 1,212 Cash & Cash Equivalent* 544 352 Total Equity 379 601 24 *Includes long term FD
Slide 26: H1 FY25 Standalone Financial Highlights
H1 FY25 Standalone Financial Highlights Total Revenue* (₹ Cr) EBITDA* (₹ Cr & Margin %) 36% 143% YoY Growth YoY Growth PBT (₹ Cr) & PBT Margin (%) PAT (₹ Cr & Margin %) 83% 130% YoY Growth YoY Growth 25 *Total Revenue & EBITDA includes other income
Slide 27: Profitability Flow
Profitability Flow Profit After Tax (PAT) Flow in H1 FY25 Gensol’s standalone revenue reached ₹642 cr in H1 FY25 and PAT grew by 130% YoY to reach ₹90 Cr in H1 FY25 Gensol continues to invest in its new business segments which are expected to increase in the near future, contributing to overall prof
Slide 28: Consolidated Income Statement
Consolidated Income Statement Particulars (₹ crores) Q2FY25 Q2FY24 YoY (%) H1FY25 H1FY24 YoY (%) Total Revenue 347 305 14% 710 478 49% EBITDA 107 47 126% 183 77 138% Net Interest expense 76 15 112 25 Depreciation 6 0 8 1 PBT 25 32 (22%) 63 51 24% Tax 2 14 14 18 PAT 23 18 29% 50 33 52% *Total Revenue
Slide 29: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Particulars (₹ Cr) H1FY25 H1FY24 Cash Flow from Operating Activities 154 22 Cash Flow from Investing Activities (191) (384) Cash Flow from Financing Activities (85) 333 Net Increase/Decrease in Cash and Bank Balances (122) (29) Note: The above cash flow statement has
Slide 30: Consolidated Balance Sheet
Consolidated Balance Sheet Particulars (₹ Cr) As at 30th September 2024 As at 31st March 2024 Shareholder Funds 602 379 Total long term debt 709 858 Other non current liabilities 418 354 Total short term debt 503 539 Other current Liabilities 320 289 Total Equities & Liabilities 2,552 2,419 Fixed As
Slide 31: Gensol Corporate Details
Gensol Corporate Details 30
Slide 32: Corporate Structure
Corporate Structure Gensol EV Lease Pvt. Ltd. Gensol Electric Vehicles Pvt. Ltd. Scorpius Trackers Pvt. Ltd. Promoter Holding: 63% Public Holding 37% Green Energy Trading LLC Note: Non exhaustive list of subsidiaries 31
Slide 33: Leadership Team
Leadership Team Anmol Singh Jaggi Puneet Singh Jaggi Chairman & Managing Director Whole Time Director ▪ First Generation Entrepreneur with extensive experience in ▪ First Generation Entrepreneur & Clean Energy Enthusiast transforming the clean energy landscape for over 15 years ▪ Have been an adviso
Slide 34: Thank You
Thank You Gensol Engineering Ltd. Empowering Future Exploring Energy Alternatives Ms. Savli Mangle Mr. Ankit Jain Adfactors Public Relations CFO, Gensol Engineering Ltd. savli.mangle@adfactorspr.com ankitjain@gensol.in investorrelations@gensol.in 33