Slide 1: Exchange filing cover letter
February 7, 2025 To, To, National Stock Exchange of India Limited, BSE Limited, Exchange Plaza, Plot No. C/1, G Block, Bandra- Phiroze Jeejeebhoy Towers, Kurla Complex, Bandra (East), Mumbai – 21st Floor, Dalal Street, 400051 Mumbai – 400001 NSE Symbol: RISHABH BSE Scrip Code: 543977 Dear Sir/Madam,
Slide 2: Investor Presentation – Q3 & 9MFY25
RISHABH INSTRUMENTS LIMITED Investor Presentation – Q3 & 9MFY25 Measure Control Record Analyze Click Here for Rishabh’s Corporate Video
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Rishabh Instruments Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any s
Slide 4: Financial Performance
1 FINANCIAL PERFORMANCE
Slide 5: Management Commentary
Management Commentary Commenting on the Q3FY25 results, Mr Dinesh Musalekar, said, “I am happy to state that we have achieved Consolidated Revenues of INR 1,812 Mn in Q3FY25, registering a growth of 13.7% on a y-o-y basis and in 9MFY25 we achieved revenue of INR 5,329 Mn, registering a modest growth
Slide 6: Prestigious Awards received by Lumel SA
Prestigious Awards received by Lumel SA Lumel SA has received 3 prestigious awards, underscoring its exceptional performance and consistent growth over the past three years FORBES DIAMONDS 2025 BUSINESS GAZELLES 2024 INNOVATION AWARD A Symbol of From the Three Years of Financial Marshal of the Consi
Slide 7: Huge Opportunity on Solar Business
HUGE Opportunity on Solar Business…. Launch of PM Suryaghar Muft Bijli Yojana, installing solar panels in Introducing next Market generation 1 crore households. The 2023-24 Budget allocates Rs 7,327 crore Opportunity to solar projects. solar inverters now made in India In-house R&D team has 28% In-h
Slide 8: Acquired SCADA Software in 9MFY25
Acquired SCADA Software in 9MFY25 MICROSYS, spol. s r.o. company was established in 1991 as a Czech company with the headquarters in Ostrava Engaged in development of PROMOTIC visualization software (SCADA) and implementation of applications in the field of industrial process automation Focused on R
Slide 9: Q3 & 9MFY25 Consolidated Highlights
Q3 & 9MFY25 Consolidated Highlights Revenue (Rs. Mn) Adjusted* EBITDA (Rs. Mn) PBT(Rs. Mn) +4% -44% -47% 5,118 5,329 741 398 Operational Highlights +14% 418 210 ❖ Consolidated revenue for Q3FY25 +71% +242% stood at INR 1,812 Mn, saw a 1,593 1,824 1,812 172 109 growth of 14% YoY basis. The 101 137 55
Slide 10: Q3 & 9MFY25 Product wise Revenue
Q3 & 9MFY25 Product wise Revenue Q3FY24 Q3FY25 Key Highlights 6.9% 9.9% 3.6% 19.9% ❖ Electrical automation has stood at INR 360 Mn in Q3FY25 and INR 712 Mn 34.9% in 9MFY25. 37.0% 39.0% 32.3% ❖ Metering and control devices has stood at INR 586 Mn in Q3FY25 and INR 2,162 9.3% 7.2% Mn in 9MFY25. 9MFY24
Slide 11: Q3 & 9MFY25 Geography wise Revenue
Q3 & 9MFY25 Geography wise Revenue Q3FY24 Q3FY25 Key Highlights in the Geography 8.0% 5.2% 1.0% 1.3% ❖ Revenue from Europe has stood at INR 2,487 Mn in 9MFY25 and INR 807 Mn 18.5% 26.4% in Q3FY25 44.6% 50.7% ❖ Revenue from Poland has stood at 21.8% INR 1,107 Mn in 9MFY25 and INR 408 Mn 22.5% in Q3FY
Slide 12: Q3 & 9MFY25 Consolidated Profit & Loss Statement
Q3 & 9MFY25 Consolidated Profit & Loss Statement Profit & Loss [INR Mn] Q3FY25 Q3FY24 YoY Q2FY25 QoQ 9MFY25 9MFY24 YoY Revenue from Operations 1,812 1,593 13.7% 1,824 -0.6% 5,329 5,118 4.1% COGS 773 722 764 2,281 2,212 Gross Profit 1,039 871 19.3% 1,059 -1.9% 3,048 2,907 4.8% GP Margin % 57.3% 54.6%
Slide 13: Q3 & 9MFY25 Standalone Profit & Loss Statement
Q3 & 9MFY25 Standalone Profit & Loss Statement Profit & Loss [INR Mn] Q3FY25 Q3FY24 YoY Q2FY25 QoQ 9MFY25 9MFY24 YoY Revenue from Operations 592 458 29.3% 589 0.6% 1,708 1,655 3.2% COGS 327 221 302 901 796 Gross Profit 265 237 11.7% 287 -7.5% 807 859 -6.0% GP Margin % 44.8% 51.8% -710 bps 48.7% -400
Slide 14: About Us
2 ABOUT US
Slide 15: About Rishabh Instruments
About Rishabh Instruments Rishabh Instruments Limited - A Leading Global Energy Efficiency Solution Provider Established in 1982 3000* 145+ 100+ Rishabh Instruments Limited is a leading engineering Global Product Lines Countries company to design, develop Customers Served and manufacture Global Ener
Slide 16: Company Timeline
Company Timeline › Incorporated › Agreement for technical › Sifam Tinsley › Acquisition of Shanghai › Received M-SIPs › Listed on Stock assistance with M/s Instrumentation Yihua V&A approval from Govt. of Exchanges Gossen – Metrawatt Ltd acquired Instrumentation India GmbH Sifam meter and Tinsley pr
Slide 17: Diversified Product Portfolio
Diversified Product Portfolio… Business Segments Metering, Control Portable Test and Aluminium High- Electrical and Protection Measuring Pressure Die- Others Automation Devices Instruments Castings Temperature Temperature Analog Panel Current Rotary CAM Digital Digital Digital I/O Controller and Hum
Slide 18: Leading Market Positioning in Key Segments
… with Leading Market Positioning in Key Segments... Segment wise Leadership Metering, Control Portable Test and Aluminium High- Electrical and Protection Measuring Pressure Die- Others Automation Devices Instruments Castings #1 #3 #2 3mn #1 1st player in Electrical 3rd player in the Digital 2nd pla
Slide 19: Manufacturing Presence across Geographies
… and Manufacturing Presence across Geographies… Our 5 Manufacturing units are in India, Poland and China and 2 modifications center are in UK and US Large facilities with an average spread area of 10,000+ sq. mt. Annual Installed Capacity of 35.5mn products per annum* Current Capacity utilisation i
Slide 20: Five State of the Art Facilities
With five State of the Art Facilities… Nashik | Indian Manufacturing Facilities Poland | Polish Manufacturing Facilities Lumel SA Facility I Facility 1 spread over 10,240 sq. mt. Facility 1 spread over 12,000 sq. mt. Lumel Alucast Facility II Facility 2 spread over 9,195 sq. mt. Facility 2 spread ov
Slide 21: Two Modification Centres
And two Modification Centres… Shanghai | China Manufacturing Facility Sifam Tinsley | Modification Centre UK Czech Republic | SCADA Software Company US 20
Slide 22: Marquee Clientele Base
… and Marquee Clientele Base with long standing relationship Note: The Brand Names mentioned are the property of their respective owners and are used here for identification purpose only 21
Slide 23: In-house Capacities and Utilisation
… serving through our in-house ample capacities Total Installed Capacity and Utilisation As of March 31, As of March 31, As of March 31, As of March 31, Total of all Manufacturing Facilities (All Products) 2021 2022 2023 2024 Installed Capacity (Annual Units p.a. in millions) 28.9 30.9 32.2 35.5 Act
Slide 24: A Large Addressable Market
… to a large addressable market Business Segment Global Markets ($ bn) Indian Markets ($ bn) 2022 CAGR 2027E SRM* 2022 CAGR 2027E SRM* 7.8% 9.0% Electrical Automation 147.5 215.1 35.5% 6.4 9.8 35.5% 4.8% 5.5% 34.1 43.1 20.8% 0.7 0.9 13.6% Metering, Control and Protection Devices 5.1% 6.9% 5.1 6.6 52
Slide 25: Backed by History of Strong Acquisitions
Backed by History of Strong Acquisition’s Successful Integration of Acquired Businesses across Geographies to drive growth Poland UK Poland Restructuring China Czech Republic 2012 2013/14 2016 2019 2020 2024 o Acquired Sifam meter o Restructured “Lumel” into o Acquired Shanghai VA o Lumel acquired a
Slide 26: Growth Drivers
3 Growth Drivers
Slide 27: Our Core Expertise
Our Core Expertise Strong and demonstrated management capabilities Acquired a loss-making business in Europe in 2012 and turnaround the company to 18% EBITDA margin Ability to drive technology and innovation through advanced and accredited R&D capabilities New product launch contributed to around 10
Slide 28: Vertically Integrated Business Model
Vertically Integrated Business Model Product Conceptualization Vertical Integration with Die-casting Vertical Integration with Electrical • Uncovers the unarticulated needs of consumers business to produce moulds Post Lifecycle Support • Drives efficiency and consumer manufacturing units value 01 De
Slide 29: In-House R&D Capabilities
In-House R&D Capabilities Launched and developed technology through continuous R&D 3 2 Design Registrations Global Patents Clamp Meter Invented and patented the rotary jaw mechanism and Multimeter, current Clamp meters with rotary safe trigger mechanism for clamp meters and voltage transducer, jaw m
Slide 30: Key Growth Strategies
Key Growth Strategies Promote product Target new customers cessible localization and Capitalize Be Ac and expand existing on company’s presence in customer accounts China, India and Europe ss Ha ompetitivene ve a Reliable Pr ost c o C duc t Continue to pursue long Enhance product term growth strateg
Slide 31: Industry Growth Drivers
Industry Growth Drivers 01 02 Electronics & Semiconductor Connected Vehicle/EV • Rising adoption of Industrial IoT solutions • Aluminum Die Casting expected to receive and integration of OT-IT shop floor significant fillip from EVs • Emphasis on DER* expands the need for • Integrated solutions of hi
Slide 32: Corporate Structure
4 CORPORATE STRUCTURE
Slide 33: Corporate Structure at a Glance
Corporate Structure at a Glance Rishabh Instruments Limited 99.6% 100% 100% 99.94% Energy Solution Labs Pvt. Ltd. Dhruv Enterprises Ltd. Sifam Tinsley Instrumentation Shanghai VA Instrument Co. Ltd. (India) (Cyprus) Inc. (USA) (China) 100% 50.1% 100.0% Lumel Alucast Sp. Z.o.o Sifam Tinsley Instrumen
Slide 34: Experienced Board of Directors
Experienced Board of Directors Dinesh Kumar Musalekar Narendra Joharimal Goliya Whole Time Director Promoter, Executive Chairman o Experience: 30+ years in manufacturing and electrical industry o Experience: 40+ years in manufacturing and electrical industry o Previously associated with Avire India
Slide 35: Strong Management Team
Strong Management Team Narendra Joharimal Goliya Dineshkumar Musalekar Vishal Kulkarni Promoter, Executive Chairman Wholetime Director Group CFO o Experience: 40+ years in manufacturing and electrical industry o Experience: 30+ years in manufacturing and electrical industry o Associated with the Com
Slide 36: Awards and Accolades
Awards and Accolades 35
Slide 37: Approvals and Certifications
Approvals and Certifications 36
Slide 38: Environmental Health and Safety Management System
Environmental Health and Safety Management System Energy Saving Devices Manufactures wide range of cost-effective process optimization products Zero Carbon Emission – RoHS Compliant • Conservation of natural resources like energy, water by implementation of resource management program • Prevention o
Slide 39: Corporate Social Responsibility
Corporate Social Responsibility IIT Collaboration Tied up with IIT Jodhpur to setup a center for innovation in Green Energy. Started engagement with IIT Bombay as part of the ASPIRE (Applied Science Park for Innovation Research & Entrepreneurship) where RIL will be working on innovative ideas in the
Slide 40: Historical Financial Highlights
5 Historical Financial Highlights
Slide 41: Consolidated Financial Highlights
Consolidated Financial Highlights Revenue (Rs. Mn) Adjusted* EBITDA (Rs. Mn) Profit Before Tax** (Rs. Mn) +4% +21% 6,897.0 +18% 955.5 607.0 592.0 840.6 511.0 5,695.4 729.7 458.0 4,702.5 3,899.6 575.1 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Gross Margins (%) Adjusted* EBITDA Margi
Slide 42: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Profit and Loss (Rs. Mn) FY24 FY23 FY22 FY21 Revenue from Operations 6,897 5,695 4,703 3,900 Cost of Goods Sold 2,899 2,563 1,972 1,562 Gross Profit 3,998 3,132 2,731 2,337 Gross Profit Margin 58.0% 55.0% 58.1% 59.9% Employee Cost 1,786 1,451 1,257 1,149 Other Ex
Slide 43: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Mn) Mar-24 Mar-23 Mar-22 Mar-21 Equity & Liabilities (Rs. Mn) Mar-24 Mar-23 Mar-22 Mar-21 Non - Current Assets 2,894.2 2,391.6 2,313.6 2,320.9 Total Equity 5,637.8 4,087.5 3,461.0 3,021.3 Property Plant & Equipment's 2,395.9 1,926.0 1,943.5 1,980.8 Share Capita
Slide 44: Consolidated Abridged Cash Flow Statement
Consolidated Abridged Cash Flow Statement Particulars (Rs. Mn) FY24 FY23 FY22 FY21 Net Profit Before Tax 510.5 607.2 592.4 458.0 Adjustments for: Non -Cash Items / Other Investment or Financial Items 469.0 285.4 166.8 196.4 Operating profit before working capital changes 979.5 892.6 759.2 654.4 Chan
Slide 45: Consolidated Key Ratios
Consolidated Key Ratio’s Working Capital (Rs. Mn) Debt to Equity Asset Turnover 2,366.9 0.3 0.9 0.9 0.3 0.8 0.3 0.8 1,915.6 1,405.7 0.1 855.8 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 FY21 FY22 FY23 FY24 Return on Asset* (%) Return on Equity* (%) Return on Capital Employed* (%) =Net Profit / Total Ass
Slide 46: Thank You
T h a n k Yo u . . For more information, please contact Company: Investor Relations Advisor: Rishabh Instruments Limited. Strategic Growth Advisors Pvt. Ltd. CIN - L31100MH1982PLC028406 CIN - U74140MH2010PTC204285 Mr. Ajinkya Joglekar Mr. Nishant Dudhoria / Mr. Vatsal Shah ajinkya.joglekar@rishabh.c