Greaves Cotton Limited · NSE:GREAVESCOT
Greaves Cotton — Q2 FY2023 Earnings Presentation
20 slides from Greaves Cotton's earnings presentation, Nov 14, 2022
Slide 1: Covering letter to stock exchanges: Investor Presentation
GREAVES SINCE 1859 14th November, 2022 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 8th November, 2022 and pursuant to Regulation
Slide 2: Q2 and H1 FY2023 Earnings Presentation
PEOPLE. PHYGITAL. PROGRESS. Q2 and H1 FY2023 Earnings Presentation (14th November 2022) POWERTRAIN RETAIL ELECTRIC MOBILITY FINANCE
Slide 3: Q2 FY23 highlights
Q2 FY23 highlights Greaves Electric Mobility recorded highest ever quarterly sales of 33K units • Greaves Electric Mobility (GEM) recorded highest ever quarterly revenue Revenue EBITDA PAT of INR 318 crores and EBITDA of INR 8 crores Rs. 699 Cr Rs. 43Cr Rs. 32 Cr • GEM accounts for 46% of overall re
Slide 4: Management commentary
Management commentary Nagesh Basavanhalli ▪ Last mile mobility segment is recovering, and reaching Executive Vice Chairman pre-covid levels, with increasing penetration of EVs ▪ E-mobility business recorded highest ever sales of 33K units; H1 FY23 volume was higher than full year of FY22 We are happ
Slide 5: Corporate structure for accelerated growth
Corporate structure for accelerated growth POWERTRAIN MOBILITY Last Mile Other 2-Wheelers 3-Wheelers Mobility Applications RETAIL & SERVICES Multi-Brand Multi-Brand retail format service format Q2 and H1 FY23 INVESTOR’S PRESENTATION 4 Note: Financials and volumes as of Q2 FY23
Slide 6: Financial results reflects success of Greaves' diversification strategy
Financial results reflects success of Greaves’ diversification strategy Consistent growth riding on strong brand traction and improved efficiency 660 699 621 513 486 330 374 281 318 23 237 229 181 42 90 452 495 490 15 302 379 374 374 288 214 284 Q2FY18 Q2FY19 Q2FY20 Q2FY21 Q1FY22 Q2FY22 Q3FY22 Q4FY2
Slide 7: Diversified portfolio of powertrain products
Diversified portfolio of powertrain products Auto Applications Non-Auto Applications • R& D powerhouse with proven success in diesel and • Conformity to stringent safety standards UL, FM, TAC and CNG engines, & now rapidly building expertise in NFPA 20 norms electric powertrain • Catering to diversi
Slide 8: Greaves Retail Solutions – leading player in auto spares, service & retailing of electric vehicles
Greaves Retail Solutions – leading player in auto spares, service & retailing of electric vehicles Online to Offline A complete phygital experience for today’s new age Quick Service Genuine Spares shopping experience customer 6 Months Warranty Quality Repairs Multi-brand Retail Multiple brand option
Slide 9: Key Business Enablers: developing expertise across ecosystem
Key Business Enablers: developing expertise across ecosystem • Tech-enabled financing for electric vehicles with deep • Aspires to be a technology convergence catalyser for understanding of asset risk the company’s products, looping back cutting-edge technology and solutions from around the world •
Slide 10: Making India a global EV destination
Making India a global EV destination Rolled out more than 90k E2W from its production facility in Ranipet. The facility was inaugurated in November 2021 The Capital Infusion from Abdul Latif Jameel Group will further boost the capex projects With a capacity of 240,000 units p.a. Ranipet plant is wel
Slide 11: AIS 156 – GEMPL implementation plan
AIS 156 – GEMPL implementation plan The new EV battery safety norms being brought into effect in two phases. Phase 1 will begin on 1 December 2022, and Phase 2 will come into effect on 31 March 2023 • The Ministry of Road Transport and Highways (MoRTH) had announced safety measures in the battery sa
Slide 12: Greaves Electric Mobility: new product launches
Greaves Electric Mobility : new product launches Continuous improvement in vehicle platforms components, product engineering, features & connectivity 2W 3W Next COMING Next COMING Pre - 18-24 Primus Zeal (B2C) New model 18-24 ePro 1.0 ePro 2.0 Next Gen – L5N SOON SOON Auto Expo Auto Expo Auto Expo A
Slide 13: Financial performance
Financial performance Greaves Consolidated Result Q2 FY23 Segment Revenues (INR Cr.) Revenue EBITDA PAT 1% 699 Powertrain 34% 374 Aftermarket 46% E-mobility 43 32 Others (10) (23) 19% Q2 FY22 Q2 FY23 Greaves Standalone Result Q2 FY22 Segment Revenues Revenue EBITDA PAT 0% 374 24% 284 Powertrain Afte
Slide 14: Financial snapshot
Financial snapshot Particulars (Consolidated) Q2 Growth (%) Q1 Growth (%) H1 Growth (%) (Rs. Cr.) FY23 FY22 Y-o-Y FY23 Q-o-Q FY23 FY22 Y-o-Y Income from Operations 699 374 87% 660 6% 1,359 602 126% RMC (%) 73.3% 74.5% 73.8% 73.5% 73.3% Employee Cost 50 41 46 96 83 Other Expenses 94 64 88 183 105 EBI
Slide 15: Segment volume
Segment volume Q2 Growth (%) Q1 Growth (%) H1 Growth (%) Volumes (Units) FY23 FY22 Y-o-Y FY23 Q-o-Q FY23 FY22 Y-o-Y Auto Engines 16,207 8,667 87% 16,112 1% 32,319 18,093 79% Non-Auto Engines 9,563 11,032 (13%) 10,110 (5%) 19,673 20,479 (4%) Engines 25,770 19,699 31% 26,222 (2%) 51,992 38,572 35% Non
Slide 16: Balance sheet and cash flow trend
Balance sheet and cash flow trend (Rs. Cr.) Sep-21 Mar-22 Sep-22 Working Capital 186 Cash & Cash Equivalent 279 438 1,336 117 Short Term Debt 11 64 18 42 27 Long Term Debt 4 169 50 Mar -21 Sep-21 Mar -22 Sep-22 Total Debt 14 233 68 Net Cash 265 205 1,268 • Increase in working capital due to higher s
Slide 17: In summary - driving growth momentum
In summary - driving growth momentum Highest ever Consolidated revenue at INR 699 crores in Q2FY23, R&D Introducing technology enabled and energy quarterly H1FY23 revenues at INR 1359 Crores, 135% of pre focus efficient products, with a greater focus on the revenues Covid period (i.e. H1FY20) batter
Slide 18: Awards and recognition
Awards and recognition Great Place to Manufacturing Automotive Social Impact Work- and Quality Promising Hall of Fame Award 2021 by Second year in a Excellence Brands 2021 Nov 2021 by ACEF Asian row 2021 by by ET ET Polymers Leaders Quantic Q2 and H1 FY23 INVESTOR’S PRESENTATION 17
Slide 19: 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 20: 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 Jaylaxmi Kumar Anvita Raghuram / Bhusha