Kaynes Technology India Ltd. · NSE:KAYNES
Kaynes Technology India — Q2 FY25 Earnings Presentation
34 slides from Kaynes Technology India's earnings presentation, Oct 29, 2024
Slide 1: Cover letter to stock exchanges
October 29, 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 C
Slide 2: Earnings Presentation Oct 2024
Kaynes Technology India Limited Earnings Presentation | Oct 2024
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
Slide 4: Quarterly Financial Highlights
Quarterly Financial Highlights
Slide 5: H1FY25 Results Snapshot (Consolidated)
H1FY25 Results Snapshot (Consolidated) ₹ 54,228 mn ₹ 10,761 mn ₹ 1,490 mn 13.8% Order Book Revenue EBITDA EBITDA Margin ₹ 50,386 mn in H1FY25 64% YoY 67% YoY 32 bps YoY ₹ 1,110 mn 10.3 % ₹ 25,968 mn ₹ 5,997 mn Profit After Tax PAT Margin Networth Net Debt 95% YoY 166 bps YoY ₹ 10,141 mn in H1 FY24 ₹
Slide 6: Q2FY25 Results Snapshot (Consolidated)
Q2FY25 Results Snapshot (Consolidated) ₹ 5,721 mn ₹ 821 mn 14.4% Revenue EBITDA EBITDA Margin 59% YoY 68% YoY 83 bps YoY ₹ 221 mn ₹ 602 mn 10.5% Finance Cost Profit After Tax PAT Margin 87% YoY 86% YoY 157 bps YoY 5
Slide 7: Consistent quarterly financial performance
Consistent quarterly financial performance Revenue (₹ Mn) EBITDA (₹ Mn) 6,373 952 5,721 821 5,093 5,040 699 669 3,608 488 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 Q2FY24 Q3FY24 Q4FY24 Q1FY25 Q2FY25 EBITDA Margins (%) Profit After Tax (Restated) (₹ Mn) 14.9% 813 14.4% 602 508 452 13.7% 13.5% 323 13.3% Q2FY
Slide 8: Diversified Revenue Mix (Half-Yearly)
Diversified Revenue Mix (Half-Yearly) Revenue across verticals H1FY25 H1FY24 7.6% Automotive Automotive 7% 10% Industrial incl EV 2.0% Industrial incl EV 1.5% 28.1% Aerospace, Outer-space & 13.0% 33.4% Aerospace, Outer-space & Strategic Electronics 4.3% Strategic Electronics Medical Medical 2.6% 54.
Slide 9: Consistent half-yearly financial performance
Consistent half-yearly financial performance Gross Block (₹ Mn) Asset Turnover ratio (x)1 5.7 4,552 4.7 2,295 H1FY24 H1FY25 H1FY24 H1FY25 Net Debt/Equity (x) Networth (₹ Mn) 0.2 25,968 0.1 10,141 H1FY24 H1FY25 H1FY24 H1FY25 Note: Asset Turnover Ratio1 is annualized 8
Slide 10: Consistent half-yearly financial performance
Consistent half-yearly financial performance Net Working Capital Days Inventory Days 119 134 107 108 H1FY24 H1FY25 H1FY24 H1FY25 Receivable Days Payable Days 75 76 74 60 H1FY24 H1FY25 H1FY24 H1FY25 Net working capital is calculated as average inventory days plus average receivable days less average
Slide 11: Q2 FY25 Profit & Loss Statement (Consolidated)
Q2 FY25 Profit & Loss Statement (Consolidated) Particulars (₹ Mn) Q2FY24 Q2FY25 Y-O-Y H1FY24 H1FY25 Y-O-Y Revenue from operations 3,608 5,721 59% 6,580 10,761 64% Raw material cost 2,602 4,073 57% 4,659 7,737 66% Employee expenses 223 399 79% 459 734 60% Other expenses 295 428 45% 572 799 40% EBITDA
Slide 12: Balance Sheet (Consolidated)
Balance Sheet (Consolidated) Particulars (₹ Mn) Sep FY24 Sep FY25 Gross Block (tangible assets) 1,895 4,148 Accumulated Depreciation 607 786 Net Block (tangible assets) 1,288 3,362 Intangible assets 435 730 Other non-current assets 947 6,844 Total non-current assets 2,670 10,936 Inventories 5,512 7,
Slide 13: Cash Flow Statement (Consolidated)
Cash Flow Statement (Consolidated) Particulars (₹ Mn) Sep FY24 Sep FY25 Cash flow from operating activities Profit before tax 713 1,491 Adjustment for non-operating items 270 158 Operating profit before working capital changes 983 1,648 (Increase)/ decrease in inventories -1,381 -1,646 (Increase)/de
Slide 14: Company Overview
Company Overview
Slide 15: 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
Slide 16: 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
Slide 17: 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
Slide 18: 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
Slide 19: 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 o 21 SMT Lines Ahmedabad (Kemsys & Kaynes Semicon- OSAT) Mysuru Unit I o 70 THD Lines Parwanoo o 26 Cable Harness Lines Manesar Unit I o 15 plastic molding machines
Slide 20: 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
Slide 21: 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
Slide 22: Marquee customer base
Marquee customer base Industry Key Customers Long standing relationship with clients** INR Mn Average business period relationship of top 10 customers in each vertical2 Leading global mfg of electronic instruments and Industrial electromechanical devices 9 9 9 9 7 7 Railways Automotive Automtive Ind
Slide 23: 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
Slide 24: Financial Highlights
Financial Highlights
Slide 25: Proven record of consistent financial performance (1/4)
Proven record of consistent financial performance (1/4) Revenue (₹ Mn) EBITDA (₹ Mn) 62% CAGR 18,046 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 13.3% 14.1% 166% CAGR 9.7% 952 417 97
Slide 26: 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
Slide 27: 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
Slide 28: 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
Slide 29: Profit & Loss Statement (Consolidated)
Profit & Loss Statement (Consolidated) Particulars (₹ Mn) 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 margin (%) 9.7% 13.3% 14
Slide 30: Balance Sheet (Consolidated)
Balance Sheet (Consolidated) Particulars (₹ Mn) FY21 FY22 FY23 FY24 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 Total non-curren
Slide 31: Cash Flow Statement (Consolidated)
Cash Flow Statement (Consolidated) Particulars (₹ Mn) FY21 FY22 FY23 FY24 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)/ decrease in inventori
Slide 32: Kaynes Expansion – Chamarajanagar
Kaynes Expansion – Chamarajanagar Built-up area of ~ 350K sq ft Well supported by ancillary facilities of existing units / expansion plans Phase-I: Alpha & Beta Ready (~100K sq ft) Phase-II: Gamma by Q3FY2025 ~240,000 Sq feet Clean Room of Class 10K Wire Bonding Box Build 31
Slide 33: Kaynes Expansion – Hyderabad
Kaynes Expansion – Hyderabad Location: Kongara Kalan (Near Hyderabad Airport) Total Plant Area: 70K Sq feet
Slide 34: 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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