Walchandnagar Industries Limited · NSE:WALCHANNAG
Walchandnagar Industries — Investor Presentation (March 2025)
42 slides from Walchandnagar Industries's investor presentation, Mar 17, 2025
Slide 1: Analyst/Investor Meet - Presentation cover letter
Ref. No. : WIL:SEC: 2025 Date : March 17, 2025 National Stock Exchange of India Ltd. BSE Ltd. Corporate Action Department Corporate Relations Department Exchange Plaza, 5th floor, 1st floor, New Trading Ring, Plot No. C/1, G Block, Rotunda Bldg P.J. Tower, Bandra Kurla Complex, Bandra (East) Mumbai
Slide 2: Business Presentation
Business Presentation
Slide 3: Walchandnagar – Engineering Tomorrow, inspired by enduring legacy
Walchandnagar – Engineering Tomorrow, inspired by enduring legacy Seth Walchand Hirachand (1882-1953), Visionary Industrialist & Founder A remarkable Indian industrialist, and founder of Walchandnagar Industries Limited (WIL) with the belief that India has the potential to become a world leader He s
Slide 4: Leadership position in high growth businesses
Leadership position in high growth businesses… Walchandnagar Industries Hi-Tech Engineering Manufacturing Business DNA Process OEM Revenue Breakup (FY 24) (₹ Cr) (High growth Equipment (Stable business) potential) Other Business 7.9% DNA 26.5% Gearboxes Foundry Defence 25.2% 302 cr Centrifugal Nucle
Slide 5: With high Entry Barriers
…With high Entry Barriers… Significant initial capex and working Long lead times with irregular orders capital required to seize future but substantial growth potential across opportunities cycles High-precision manufacturing Stringent technical prequalification capabilities for DNA standards for cr
Slide 6: Build on strong foundation
Build on strong foundation 1000+ 100+ 50+ Years of Engineering Years of Propulsion Excellence association with DAE, NPCIL, Systems Supplied for BARC, ISRO and MoD Indian Missiles 4500+ 600+ 6500+ Centrifugal Machines Turnkey projects Gearboxes Installed Supplied Executed (EP Projects) Globally Criti
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Slide 8: Presence in businesses with unprecedented growth potential
Presence in businesses with unprecedented growth potential… • The Company is engaged in inherently sensitive and secretive Defence, Nuclear and Aerospace (DNA) programs of national importance • Given the rigorous prequalification requirements, competition in these industries is limited • Amongst sel
Slide 9: Supported by strong expertise and customer relationships
supported by strong expertise and customer relationships 1 2 3 4 5 The Company is one amongst the major qualified Excellent track record Adaptable and flexible With over 50 years of Engagement at the R&D manufacturers in the DNA particularly in quality, infrastructure, along with experience in manuf
Slide 10: Defence
Defence
Slide 11: Huge increase in Defence spending over the years
Huge increase in Defence spending over the years India moved to 3rd largest spender in 2022 from being the 9th largest defence spender in 2000 (Bn $) 81 77 (Source: Statista.com) 72 73 65 66 +458% 57 Government expenditure on 50 51 51 46 47 47 defence in India has grown 39 33 from ~ ₹ 71,000 Cr in 2
Slide 12: Defence opportunities going ahead
Defence opportunities going ahead ‘Most advanced ships to be built in India’: Defence ministry to clear mega ₹ 70,000 crore order for new stealth warships 11
Slide 13: The Company's contributions across a wide array of projects
The Company’s contributions across a wide array of projects Developed various processes, including Contributed to DRDO, in development, welding technology, for manufacture of manufacture and supply of aluminum alloy motor cases of missiles of Agni series bridge Kartik /CEASE Bridge Developed special
Slide 14: Total opportunity size of over Rs 100,000 Cr
Total opportunity size of over Rs 100,000 Cr with EBIDTA ranging 25-40% Focus Segments Negative List • Canisters Artillery Systems Domestic • Launchers Firearms & Small Arms • Transporters Missiles & Rockets • Surface to Surface • Surface to Air • Air to Air Domestic • Air to Surface Tanks & Armoure
Slide 15: Focus is to move up the value chain and become a Tier II supplier
Focus is to move up the value chain and become a Tier II supplier, eventually look at building own products 14
Slide 16: The Company is part of majority of the Missile programs
The Company is part of majority of the Missile programs underway The Company has played a key role in strengthening India's defence Partnered early with DRDO to advance indigenous defence across land, air, and sea infrastructure Contributed to tactical missiles, strategic articles, and critical Supp
Slide 17: Competitive landscape in the defence space
Competitive landscape in the defence space for the company The Associate Gopal Products L&T Godrej BEML Aditya BAPL SVAPL EPHL TASL Company Engineers Aerospace Missiles* 9 9 9 9 9 9 9 Canisters 9 9 9 9 9 Transporters 9 9 9 9 9 9 Launchers 9 9 9 9 9 Torpedoes 9 9 9 Mast 9 9 Note: While the table show
Slide 18: Nuclear
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Slide 19: Indian indigenous nuclear program in three stages
The Indian indigenous nuclear program has been visualized to grow in three stages viz. PHWR, FBR and AHWR, currently focused on PHWR and FBR Pressurized heavy water Fast breeder Advanced heavy water reactors (PHWR) reactors (FBR) reactors (AHWR) Natural Uranium PHWR ANEEL (80%) Depleted uranium Thor
Slide 20: India has 22 operational nuclear plants amounting to 7480 MW
India has 22 operational nuclear plants amounting to 7480 MW Operational Capacity 7480 MW 22 OPERATIONAL REACTORS The Company Supplies to these Reactors Equipment Reactors Calandria 14 End Shield 3 Moderator Hx 4 Bleed cond 2 Hairpin Hx 1 FM Cooler 1 4460 MW 320 MW 2000 MW 18 2 2 PHWRs BWRs VVER PHW
Slide 21: Nuclear power plant segments with NPCIL as key client
Nuclear power plant can be segmented as nuclear island, conventional island, Balance of Plant (BOP) & waste management with NPCIL being the key client PHWR Conventional Balance of Plant Nuclear waste Nuclear Island Island (BOP) management Spent fuel storage Nuclear Steam TG and Condenser Supply syst
Slide 22: Major contributor to India's Nuclear Energy Infrastructure
The Company is a major contributor to India’s Nuclear Energy Infrastructure Partnered with the Department of Atomic Energy Collaborates with: NPCIL, BARC, Specializes in manufacturing and supplying core (DAE) for over 40 years BHAVINI equipment for nuclear power plants Pre-qualified to supply Class
Slide 23: Accelerated adoption of Nuclear energy in the power mix
Accelerated adoption of Nuclear energy in the power mix to achieve Net Zero targets 22
Slide 24: Making nuclear an important source in our power mix
Making it an important source in our power mix • India is committed to achieving the country's ambition of Net Zero Emissions by 2070 • Nuclear is expected to contribute 25% of the total electricity requirement from nuclear energy by 2050 v/s ~3% at present Installed Capacity as of August 2024 was 4
Slide 25: 100 GW Nuclear Energy envisaged by 2047
100 GW Nuclear Energy envisaged by 2047 with quick commitments from Industry Jindal Nuclear plans to build 18GW nuclear power capacity 24
Slide 26: Power house of opportunity - 700 MW PHWR's
Power house of opportunity - 700 MW PHWR’s The Company’s contributions Moderator Heat Exchanger Used in nuclear island cooling systems End Shield Used to prevent direct radiation field that comes from the reactor’s core region Hairpin Heat Exchanger A heat exchanger is a system used to transfer heat
Slide 27: India's Cost Competitiveness & Proven Track Record in SMR's
India’s Cost Competitiveness & Proven Track Record in SMR’s Small Modular Reactors Capacity MWe Cost per Reactor Cost per MWe BSR / Indigenous Steam Generator (14 Operating Plants- Proven 220 3,960 ~18 cr Technology) SMR / Rolls Royce Calandria (Will be operational around 470 19,800 42 cr 2030-31- U
Slide 28: Exponential growth opportunity in BSR (220MW)
Exponential growth opportunity in BSR (220MW) (₹ Cr) The Company qualifies for ~Rs 700 crores worth of equipment per plant 27
Slide 29: Nuclear Island equipment key competitors
For the Nuclear Island equipment, WIL, L&T, Godrej and BHEL are the key competitors Equipment WIL L&T Godrej BHEL Others Calendria 9 9 9 End Shield 9 9 9 Pressurizer 9 9 9 Heat exchangers 9 9 9 9 ISGEC Distillation Column 9 9 TEMA ECCS Accumulator 9 9 9 9 ISGEC Steam Generator 9 9 9 9 Reactor Header
Slide 30: Growth Opportunities in Nuclear Waste Management
Growth Opportunities in Nuclear Waste Management 01 02 03 The global nuclear waste management The global nuclear waste management With the increasing number of nuclear market size surpassed $ 4.87 billion in 2023 market is segmented by waste type: high- facilities, more and more ILW & HLW will be an
Slide 31: Aerospace
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Slide 32: India's Aerospace Growth Drivers
India’s Aerospace Growth Drivers Recent achievements such as the successful launch of Chandrayaan-3, Aditya-L1 and Mangalyaan have strengthened India's global space standing The Indian government has committed ₹ 20,193 Cr for future space exploration projects India plans to increase space launches f
Slide 33: Over 50 Years of Collaboration with ISRO
Over 50 Years of Collaboration with ISRO 1973 1980 1985 1987 2003 2006 2008 2013 2014 2019 2020 2022 2023 Association with Manufacturing Manufacturing for Hardware manufactured S 200 supplied Hardware Manufactured ISRO commences commences for S 200 commences at The Company was by The manufacturing f
Slide 34: Equipment Manufactured by The Company
Equipment’s Manufactured by The Company The Company provides sub-assembly parts for PSLV, GSLV, & SSLV Crew Escape System (CJM , HEM & LEM ) S200 Strap-on Booster Motor Flex Nozzle Control (FNC) Tanks Nozzle Divergent Hardwares Human Rated Launce Vehicle (GSLV MKIII Derived) 33
Slide 35: Contributed to Prestigious Missions - Chandrayaan and Mangalyaan
Contributed to Prestigious Missions - Chandrayaan and Mangalyaan 1 Chandrayaan I 2 Chandrayaan III 3 Mangalyaan Contributed significantly to India’s Provided critical components for Contributed to India's first mission lunar missions the successful lunar mission to Mars 34
Slide 36: Critical Components Manufactured
Critical Components Manufactured Head End Segment (LVM3) Nozzle End Segment (LVM3) PSO XL Motor Casing(PSLV) S200 PPT Set-Up Head End Segment (PSLV)) Nozzle End Segment (SSLV) 35
Slide 37: Privatization: Opportunity to own a launch vehicle IP
Privatization: Opportunity to own a launch vehicle IP • Government has planned to privatize the launch vehicle business Privatization status • PSLV: Won by HAL & L&T consortium • SSLV: We are part of the consortium with Agnikul and Alpha Design (Adani is an Investor with 26% stake). LVM3: Bidders –
Slide 38: Contributed to India's First Trisonic Wind Tunnel
Contributed to India’s First Trisonic Wind Tunnel with a new opportunity with NAL (~Rs 400 crores in next 6-7 months Partnered with M/s Aiolos Manufactured key components Played a pivotal role in Engineering Corporation, Assembled and Installed all the such as Settling Chamber manufacturing several
Slide 39: SHAR - Third Launch Pad (NGLV) & SSLV Pad
SHAR - Third Launch Pad (NGLV) & SSLV Pad Kulashekharapatnam • ISRO is set to construct a Third Launch Pad at its Satish Dhawan Space Centre in Sriharikota, Andhra Pradesh • The project has already received approval from the National Space Commission, awaiting cabinet approval • This new facility wi
Slide 40: Unique Capabilities in Aerospace
Unique Capabilities in Aerospace Actively manufactures booster The Company's partnership with The Company's equipment has motor casings and nozzles for ISRO began in 1973 with the been successfully utilized in various ISRO programs, including manufacturing of motor cases for launching satellites suc
Slide 41: Process Equipment & OEM Manufacturing Solutions
Process Equipment & OEM Manufacturing Solutions Process Equipment Gear Centrifugal Instrumentation Foundry o Manufacturer of Heat o Manufacturer of high speed, o Pioneer of sugar projects o Specialist Pressure and o Operates a Grey and Ductile Exchangers, Large diameter low speed, planetary as well
Slide 42: Thank You
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