Slide 1: Filing cover letter to stock exchanges
MANUFACTURER OF ELECTRICAL CONTACTS FOR LV, MV, HV & EHV SWITCHGEAR INDUSTRIES 33 - Nariman Bhavan, 227 - Nariman Point, Mlol/olOlfQJIM LIMITED Mumbai - 400021, India. T: +91-22-2202 6437, F: +91-22-2204 8009 E: sales@modison.com W: www.modison.com (Formerly Known as Madison Metals Ltd) CIN No.: L51
Slide 2: Global Leadership in Silver Contacts
Slide 3: Safe Harbour
SAFE HARBOUR Except for the historical information contained herein, statements in this presentation and the subsequent discussions, which include words or phrases such as "will", "aim", “will likely result", "would", "believe", "may", “expect”, “will continue’, “anticipate”, "estimate", “intend”, "
Slide 4: Management Commentary
MANAGEMENT COMMENTARY “Steep correction in silver price impacted the profit and revenue in O2FY23. Overall H1FY23 saw very good growth on volume. Overall growth targets for the year are intact and expected stabilisation of commodity prices should help in profitable growth.” GL Modi, Founder & Managi
Slide 5: Modison Ltd.
MODISON LTD. STRONG GLOBAL A publicly listed company PRESENCE 2 MANUFACTURING ONLY PLAYER WITH PLANTS CAPABILITY Modison Ltd, Vapi Modison Copper Pvt Ltd, Silvassa LV, MV and HV switchgear contacts GLOBAL TECHNOLOGY INTEGRATION NABL DODUCO Accredited Lab ISO CERTIFICATIONS ISO 9001:2015, ISO CARE A
Slide 6: Vision and Core Values
VISION CORE VALUES Modision is committed to meet the expectations Modison shall foster continuous caring culture, olution in INDIA and of our customers, employees & the stakeholders while meeting the expectations of Stakeholders, ng under the gambit Fale M OIA eal OLOLU SIN AMeN (0]AYSM OLU]eS(c1AV
Slide 7: Company Overview
Slide 8: Modison
Established in 1975 by Mr. G. L. Modi as a silver refining company In 1978, recognizing the high potential for Electrical Contacts in switchgear industry Modison Ltd (ML) commenced manufacturing of silver and silver alloy wires, plates, strips and solid / bimetal contacts Only company globally manuf
Slide 9: Milestones
MILESTONES CONTINUOUS INNOVATION & EXCELLENCE Founded as a trading Started manufacturing Collaboration with All HV contacts type Major capex for Installed automatic unit for engineering electrical contacts and Doduco for AgW and tested and approved HV capacity increase contact welding and exports co
Slide 10: Global presence by country
NORTH SOUTH EUROPE MIDDLE ASIA AMERICA AMERICA EAST CANADA BRAZIL AUSTRIA = NETHERLANDS IRAN SOUTH KOREA USA CROATIA POLAND KUWAIT JAPAN MEXICO ESTONIA RUSSIA CHINA FRANCE SWEDEN VIETNAM GERMANY SWITZERLAND HUNGARY TURKEY ITALY
Slide 11: Founder & Managing Director and Board
Founder & Managing Whole time Director Jt. Managing Director Jt. Managing Director Director
Slide 12: Customers in Electrical segment
Se LARSEN & TOUBRO It’s all about Imagineering Schneider a Electric en BOMBARDIER Lt seivnokcec bite hdl <> ll & AF. ELECTRIC The Poweral Tech note bey (Cfanges for the Betrer SIEMENS TT d <P TATA G fans @ Leading Innovation >>> LS) a 2 HYOSUNG A HYUNDAI Honeywell tt —ramsae ie electric ev HITACHI I
Slide 13: Customers in Consumer segment
USTOMERS IN CONSUMER L. Aly! Los a J7T.Baker AVANTOR’ PERFORMANCE MATERIALS TATA CHEMICALS LIMITED 1o57 efrac Grauer& Weil (india) Limited Edward Food Research <> Analysis Centre Limited se aS smelta JX SDFCL 4% Cc Oo V E N T Y A Private Limited Ae MODISON —
Slide 14: Modison
MaDISON
Slide 15: Product Portfolio
PRODUCT PORTFOLIO LOW MEDIUM HIGH PRECIOUS METAL VOLTAGE VOLTAGE VOLTAGE COMPOUNDS * Semis (AgNi, Agedo,Agsno2 wires) © — Silver Nickel ° — Arcing Contacts (Tulips) ° — Silver Cadmium Oxide ° CuCr with vacuum silver © Nonarcing contacts ¢ — Silver Graphite | brazing alloy © Copper Tungsten Plugs (fo
Slide 16: Metal Compound
METAL COMPOUND ALTS WITH ABILITY TO PRODUCE CR,LR & AR CHEMICAL STRUCTURE CHEMICAL STRUCTURE CHEMICAL STRUCTURE Silver(I) Nitrate, Silver(l) Nitrate, Silver(I) Nitrate, IUPAC name IUPAC name IUPAC name Silver Nitrate Silver Nitrate Silver Nitrate CAS Number 7761-88-8 CAS Number 7761-88-8 CAS Number
Slide 17: Wide Range of B2C Products Including Bullion and Cutlery
WIDE RANGE OF B2C PRODUCTS INCLUDING BULLION AND CUTLERY ENABLING CUSTOMER DIVERSIFICATION MODISON —
Slide 18: Manufacturing Expertise: Refining to End Product
Nariman Point MANUFACTURING EXPERTISE Mumbai SET UP FROM REFINING TO END PRODUCT a AREA: 20,998 sq mt BUILT UP :11,783 sq mt EMPLOYEES AREA: 10,450 sq mt | BUILT UP: 6,336 sq mt REVENUE MODISON —
Slide 19: LV, MV and HV Facilities
Fully equipped plant for silver Diversified product and copper refining range LV Fully automated processes with Shorter production capacity of 1000 MT times Clean room facility with vacuum Ultrafine and pure CuCR furnaces, packing and 400T MMi electrical contact range compacting press to instantly c
Slide 20: Silver and Copper Refining and Equipment
Silver and copper refining Ow Air induction melting, vacuum induction melting, gas fired furnacesfor Ag/ Ag alloy melting TL ew WERTLI’s Continuous Casting for AgCd _ Ag powder production: Atomizer, Chemical, Cementation fk we Powder mixing & blending, Isostatic pressing, Sintering & Extrusion press
Slide 21: CuCr Disc and Brazing Alloy Facility
State of the art CuCr disc manufacturing facility with end to endcapabilities weg in clean 4 we ; Whole facility J Powder mixing & blending room “ 400T compacting press — — , G Vacuum sintering Furnace Eutectic brazing alloy for - vacuum interrupter J Vacuum Induction melting furnace applications in
Slide 22: Machine/Process
Modern facility equipped with machinery providing end-to- MACHINE/PROCESS end capabilities Electron beam welding machines (3 Machines with seam tracking system) HV facility is spread across High temperature sintering cum melton furnaces 4,300 sq meter of land witha built up area of 2,660 sq meter St
Slide 23: Quality First
QUALITY FIRST Inductively Coupled Density Measurement Leco Oxygen Analyzer: CMM Profile Plasma & C- Scan RO300 & X- Ray Tester Fluorescence Spectrometer CNC Profile Atomic Absorption Micro Hardness Tester Tester Spectrometer & Microscopes & Spark Emission — Spectrometer MODISON —
Slide 24: Rigorous Quality and Inspection Program
MACHINE/PROCESS Rigorous quality & inspection program to X-Ray fluorescencespectrometer ensure the world leading quality Atomic absorption spectrometer products consisting of Spark emission spectrometer Incoming raw material Oxygen analyzer inspection Particle size analyser Microscope Continuous in-
Slide 25: Research and Development
! All new products and processes indigenously developed post 1995 | Significant contributor to “import substitution” movement in early 90s | “Partnering” approach in customers developments’ ' System & knowledge management ' ML spends ~0.3% of the turnover on R&D ' Predominantly engineering culture —
Slide 26: Certifications
« cYSTENM ° DNV certification for manufacture and Research » Sp sale of electrical contacts for HV and LV - ge a %= Qa switchgear industry: Laboratory certified by = 5 National Accreditation DNV:GL = Quality: ISO 9001 (2015 version) Board for Testing and ISO 9001=1ISO 14001 Environment: ISO 14001 (2
Slide 27: Industry Overview
L INDUSTRY OVERVIEW GROWTH INDEX FOR ELECTRICAL EQUIPMENT INDUSTRY GROWTH INDEX FOR ELECTRICAL EQUIPMENT INDUSTRY Rotating Machines segment witnessed Product Ela Overall Growth Index marginal growth in Rotating Machines -@ 154.1 FY21 LV Switchgear ® 663 HV Switchgear 189.8 Conductors Capacitors All
Slide 28: Financials
MODISON
Slide 29: Quarterly Financial Performance
TOTAL INCOME (2 MN) EBITDA (= MN) AND MARGIN (%)"* 960 1,010 901 sos We 96 97 «88 57 O2FY22 Q3FY22 QAFY22 QI1FY23) QO2FY23 O2FY22. Q3FY22, QAFY22 QI1FY23 = Q?2FY23 PROFIT AFTER TAX (= MN) EPS (#) 55 51 1.69 41 145 0 0.85 0.14 O2FY22, OQ3FY22 QAFY22 QI1FY23) — = Q?2FY23 | Q2FY22, OQ3FY22. = QAFY22—s
Slide 30: Profit & Loss
ROFIT & LOSS PARTICULARS (in = mn unless O2FY23 O1FY23 O2FY22 stated) Total Income 803 901 960 Operating Expenses” 778 813 864 EBITDA 25 88 96 EBITDA Margin 3% 10% 10% Finance Cost 2 3 5 Depreciation 16 16 16 Profit Before Tax 7 69 75 Taxes 2 18 20 Profit after Tax 5 51 55 PAT Margin 1% 6% 6% EPS (2
Slide 31: Annual Financial Performance FY18-FY22
TOTAL INCOME (2 MN) EBITDA (= MN) AND MARGIN (%)"* 379 3,412 330 2,936 316 2027 2210 2,222 8% FY18 FY19. FY20. -FY21~—~FY22 FY18 FY19 FY20 FY21 FY22 PROFIT AFTER TAX (= MN) EPS (# ) 224 6.91 164 167 451 446 5.05 5.14 4.66 4.51 FYi8. FY19. FY20. + FY21~—~FY22 | FY18 FY19 FY20 FY21 FY22 ** Includes ex
Slide 32: Annual Profit & Loss
L PROFIT & LOSS PARTICULARS (In 2 NRT eer FY2022 FY2021 FY2020 FY2019 FY2018 Total Income 3,412 2,936 2,222 2,210 2,027 Operating Expenses” 3,128 2,557 1,952 1,880 1,711 EBITDA 284 379 270 330 316 EBITDA Margin 8% 13% 12% 15% 16% Finance Cost 20 20 20 22 19 Depreciation 66 61 62 64 63 Profit Before
Slide 33: Balance Sheet
L BALANCE SHEET PARTICULARS (IN 2 MN) FY2022 FY2021 FY2020 FY2019 FY2018 ASSETS Non-Current Assets 794 746 74] 651 680 Current Assets 1,348 1,280 1,160 1,150 941 Cash & cash equivalents Al 2 12 1 7 Total Assets 2,142 2,026 1,907 1,801 1,621 EQUITY & LIABILITIES Total Equity 1,758 1,642 1,465 1,373 1
Slide 34: Growth Strategy
Innovation via Development of New Products for achieving Scale and Differentiation Focus on Automation and Digitalisation for Efficient Production with Precision and Quality Entry into new Geographies for Market Diversification ke Lean Six Sigma and Execution excellence for ak Performance Improvemen
Slide 35: Investment Highlights
4 decades track record in India electrical contacts manufacturing industry resulting in market leadership in LV and HV segment Diverse presence in new and high growth sectors including pharmaceuticals, railways and renewable energy Global market presence through exports comprising ~20% revenues, sig
Slide 36: Corporate Social Responsibility
¢ Runs Modison Charitable Trust ¢ Provides drinking water from its RO plant | ¢ Runs Maternity Hospital ¢ Contributes for pediatric heart surgeries | ¢ Contributes for pediatric cancer patients ¢ Contributes for treatment of TB patients | ¢ Sponsors 160 students for primary education ¢ Focus on girl
Slide 37: Contact Information
MoOnISON For further information, please contact «, +91 22 2202 6437 Mr. Ravi Udeshi 3&1 shareholder@modison.com EY q +91 22 6192 0000 =H ravi.udeshi@in.ey.com © 2021 Modison Limited, All Rights Reserved. “Modison” and The Modison Logo are trademarks of Modison Limited. In addition to Company data,