Slide 1: MTAR Technologies Limited Investor Presentation – August 2023
MTAR Technologies Limited Please click here for corporate video Investor Presentation – August 2023
Slide 2: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by MTAR Technologies 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 sec
Slide 3: A leader in critical and differentiated engineered products
A leader in critical and differentiated engineered products Achieving the Market Guidance Strong Order Book Position Q1 FY24 Financial Performance Expanding Product Portfolio & Capabilities Existing Customers & Customers in Pipeline Well Balanced Portfolio Experienced Board of Directors & Well Quali
Slide 4: Strong Order book Position
Strong Order book Position Receipt of Major New Orders Order book Build-Up (Rs. in Crs) Existing Business 1,173.0 49.7 Received Rs. 49.7 Cr of orders in various sectors including 143.8 1,078.8 Clean Energy – Civil Nuclear Power, Fuel cells and Hydel, Space, Defence, Products and others in Q1FY 24 Di
Slide 5: Q1 FY24 Financial Performance
Q1 FY24 Financial Performance Revenues Revenues (Rs. (Rs. Crs) Crs) Gross Profit (Rs. Crs) +68% 61.8% 48.6% 49.9% Revenue for Q1 FY24 stood at Rs. 152.6 196.4 +35% crs as compared to Rs. 91.0 Crs in Q1 152.6 95.4 FY23, a growth of 68% on YoY 76.1 91.0 56.2 EBIDTA for Q1 FY24 stood at Rs. 34.5 Cr
Slide 6: Working Capital Management
Working Capital Management Net Working Capital (in Days) Particulars Q1 FY24 Q4 FY23 Remarks (Days) 300 287 The company has received Rs. 87 Crs from 278 Bloom Energy in the first week of July. 262 250 Receivables 147 132 Receivable days would have been lower by 52 230 #226 days had the company recei
Slide 7: Q1 FY24 Consolidated Profit & Loss Statement
Q1 FY24 Consolidated Profit & Loss Statement Particulars (Rs. Crs) Q1 FY24 Q1 FY23 Y-o-Y (%) Q4 FY23 Q-o-Q Revenue from Operations 152.6 91.0 67.6% 196.4 -22.3% Cost of Materials Consumed 97.7 43.9 110.5 Changes in Inventories -21.3 -9.1 -9.5 Gross Profit 76.1 56.2 35.4% 95.4 -20.2% GP % 49.9% 61.8%
Slide 8: Expanding Product Portfolio & Establishment of New Capabilities
Expanding Product Portfolio & Establishment of New Capabilities Electro-Mechanical High End High Precision Sheet Roller Screws Metal Actuators Fabrication Establishment of sheet metal and specialized fabrication Expanding Product Portfolio facilities Executed the FAI orders of Roller Screws Specia
Slide 9: Key Products under Development
Key Products under Development Defence • Valves: The company has started working on the design of valves, which has an immense market potential in Defence. Received orders for First Articles. • Semicryo Engine: MTAR is in the process of developing Semi Cryo Engine, the next generation liquid propuls
Slide 10: Establishment of New Capabilities – Electronics Control Systems
Establishment of New Capabilities – Electronics Control Systems Qualification under progress for cable harnessing assemblies Production for cable harnessing assemblies shall commence in H2 FY 24 MTAR is looking forward to expand the electronics vertical by adding capabilities in a progressive
Slide 11: SSLV Project – Design Team comprises eminent Scientists from ISRO
SSLV Project – Design Team comprises eminent Scientists from ISRO MTAR has signed an MoU (memorandum of understanding) with Indian National Space Promotion and Authorization Centre (IN-SPACe) that shall remain in force for 3 years for design and development of a two-stage to low-earth orbit all-li
Slide 12: Existing Customers
Existing Customers Space - Indian Space Entities & MNC Aerospace Nuclear Power Defence DRDL Marine, Oil & Clean Energy Others Energy MTAR is focusing on expanding its Aerospace vertical. Added Thales, Thales Alenia Space, Collins and GKN Aerospace in FY 23 12
Slide 13: Customers in Pipeline
Customers in Pipeline Space & Aerospace MTAR is currently in discussions with a significant number of new customers from various sectors Defence ELTA Clean Energy Others 13
Slide 14: Well-balanced Portfolio (1/2)
Well-balanced Portfolio (1/2) Revenue in Rs. Crs Clean Energy – Civil Nuclear Clean Energy – Fuel Cells, Space Hydel & Others Power 12% 22% 14% 8% 8% 13% 24% 15% 9% 5% 64% 50% 63% 77% 69% 55.3 58.2 441.7 45.7 48.3 49.4 43.8 26.0 27.1 201.6 137.5 122.7 105.2 12.3 6.9 FY20 FY21 FY22 FY23 Q1 FY24 FY20
Slide 15: Well-balanced Portfolio (2/2)
Well-balanced Portfolio (2/2) Revenue in Rs. Crs Geographical Break-up Defense Products & Others Domestic Export 4% 1% 3% 3% 2% 7% 4% 6% 4% 16% 22.2% 15.1 23.7 24.2 77.8% 18.3 14.6 Q1FY24 8.4 8.1 9.0 21.0% 3.6 1.3 79.0% FY20 FY21 FY22 FY23 Q1 FY24 FY20 FY21 FY22 FY23 Q1 FY24 FY23 15
Slide 16: ESG as an integral part of Business Decision Making
ESG as an integral part of Business Decision Making • MTAR envisions to be 100% ESG complaint; ESG is an integral part of our business decision making process • Nearly 85% of the Company’s revenue in FY 23 is derived from manufacturing climate positive products in Civil Nuclear Power, Fuel Cells, Hy
Slide 17: Supported by an Experienced Board of Directors
Supported by an Experienced Board of Directors Parvat Srinivas Reddy Managing Director and Promoter • 32+ years of rich work experience in Manufacturing and Construction industries • Master’s degree in science, specializing in industrial engineering from Krishna Kumar Aravamudan Louisiana Tech Unive
Slide 18: Experienced and Qualified Management Team
Experienced and Qualified Management Team Parvat Srinivas Reddy - Managing Director and Promoter Entrusted with the overall responsibility of management 32+ years of rich work experience in Manufacturing and Construction industries Master’s degree in science, specializing in industrial enginee
Slide 19: A leader in critical and differentiated engineered products
A leader in critical and differentiated engineered products Historical Profit & Loss Consolidated Balance Sheet Abridged Cash Flow Statement Performance in Charts Capital Disciplined Approach
Slide 20: Historical Consolidated Profit & Loss Statement
Historical Consolidated Profit & Loss Statement Particulars (Rs. Crs) FY23 FY22 FY21 FY20 Revenue from Operations 573.8 322.0 246.4 213.8 Cost of Materials Consumed 315.6 157.4 101.8 87.3 Changes in Inventories of Finished Goods and Work in Progress -46.1 (41.2) (21.6) (15.1) Gross Profit 304.2 205.
Slide 21: Historical Balance Sheet – Equity & Liabilities
Historical Balance Sheet – Equity & Liabilities EQUITY & LIABILITIES (Rs. Crs) Mar-23 Mar-22 Mar-21 Mar-20 Equity Share Capital 30.8 30.8 30.8 26.8 Other Equity 589.4 489.0 446.0 198.3 Total Equity 620.1 519.7 476.7 225.1 Financial Liabilities Borrowings 77.7 25.9 7.1 0.0 Provisions 5.6 0.4 0.4 2.4
Slide 22: Historical Balance Sheet - Assets
Historical Balance Sheet - Assets ASSETS (Rs. Crs) Mar-23 Mar-22 Mar-21 Mar-20 Property, Plant and Equipment 290.2 195.4 166.1 155.0 Capital Work-in-progress 64.4 43.8 10.5 11.7 Intangibles Assets 0.8 1.0 0.9 0.1 Financial Assets (i) Investments 0.0 0.0 0.0 0.0 (iii) Other Financial Assets 2.2 2.2 2
Slide 23: Abridged Consolidated Cash Flow Statement
Abridged Consolidated Cash Flow Statement Particulars (Rs in Cr) 31-Mar-23 31-Mar-22 31-Mar-21 31-Mar-20 Operating profit before working capital changes 168.8 96.1 82.0 60.9 Changes in working capital (129.1) (108) (61.7) 2.5 Cash generated from operations 39.7 (11.8) 20.3 63.4 Direct taxes paid (ne
Slide 24: Performance in Charts
Performance in Charts Revenues (Rs. Crs) EBITDA (Rs. Crs) PAT (Rs. Crs) 573.8 154.0 103.4 +39% +38% +49% 322.0 94.4 60.9 83.1 246.4 46.1 213.8 58.0 31.3 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 FY20 FY21 FY22 FY23 Gross Profit Margins (%) EBITDA Margins (%) PAT Margins (%) 66.2% 67.5% 63.9% 33.7% 18.
Slide 25: Capital Disciplined Growth
Capital Disciplined Growth RoCE* (%) RoE# (%) Net Debt to Equity (x) 20.0% 19.9% 18.2% 0.23 19.0% 0.18 13.6% 14.2% 13.1% 11.7% 0.13 0.03 Mar-20 Mar-21 Mar-22 Mar-23 Mar-20 Mar-21 Mar-22 Mar-23 Mar-20 Mar-21 Mar-22 Mar-23 *RoCE = EBIT/Avg. Capital Employed #RoE = Net Profit/Avg. Total Equity Capital
Slide 26: A leader in critical and differentiated engineered products
A leader in critical and differentiated engineered products Proud History of Nation Building Serving Multiple Sectors + Segments Certifications Product Offerings
Slide 27: Proud History of Nation Building
Proud History of Nation Building • MTAR has been in business since 52 years with an aim to indigenously develop and manufacture precision engineered systems in Civil Nuclear Power, Space and Clean Energy sectors. The company commenced its journey in the year 1970 by the three founders Mr. P.R. Reddy
Slide 28: Wide Product Portfolio
Wide Product Portfolio Healthy mix of Mix of regular (less developmental versus complex) products versus volume-based products highly complex assemblies Rocket engines Hot boxes Rotor Mast Bearing Control Plug for Housing - Titanium Reactor Manufactures small Manufactures import products to large pr
Slide 29: Certifications
Certifications Our facilities at Unit 2, EOU and Adibatla have ISO 14001 ,ISO Certification 45001 , ISO been certified for ISO 14001:2015 27001 Environmental Management System, ISO 45001:2018 Occupational Health & Safety and ISO 27001:2013 Information Security Management System Certification Our fac
Slide 30: Product Offerings – Nuclear Power Segment
Product Offerings – Nuclear Power Segment Nuclear Sector Products High criticality of products given safety requirements Fuel Machining Head Comprises of 600 components; Bridge & Column Used in loading & unloading of fuel Moves fuel machining head in bundles in nuclear reactor sideways and vertical
Slide 31: Product Offerings – Space and Defence
Product Offerings – Space and Defence Space & Defence Sectors Components for Geosynchronous Satellite Launch Vehicle (GSLV) Critical Equipment for various MNC Aerospace programs Stage 4 – Inside Components for Satellite Aircraft Stage 3 Main Gear Box Titanium Sukhoi – Control Manifold HPC Shaft Cryo
Slide 32: Product Offerings – Clean Energy
Product Offerings – Clean Energy Clean Energy Sector SOFC Hot boxes - Use methane to generate power Existing Product Electrolysers- Delivered 138 units of electrolysers in FY 23. Looking forward to Supplies dispatch 142 units of electrolysers by end Dec 2023 Commenced the batch production of s
Slide 33: Shareholding Pattern - As on 30th June 2023
Shareholding Patter - As on 30th June 2023 Top Shareholders As on 30th June, 2023 28.3% Nippon Life India Fund 7.02% 39.1% Axis Mutual Fund 3.95% 4.5% UTI- Long Term Equity Fund 3.21% Aditya Birla Sun Life 2.75% 28.0% HDFC Mutual Fund 2.34% Promoters DII FII Public Invesco India Tax Plan Fund 1.46%
Slide 34: Thank You
Thank You MTAR Technologies Limited CIN: L72200TG1999PLC032836 Ms. Srilekha Jasthi – Senior Manager – Strategy & Operations +91 7674021818 srilekha@mtar.in Mr. Irfan Raeen +91 9773778669 Irfan.raeen@linkintime.co.in Mr. Devansh Dedhia +91 9930147479 devansh.dedhiai@linkintime.co.in