#1transformers & rectifiers (india) ltd An ISO 9001:2015, ISO 14001:2015 & ISO 45001: 2018 CERTIFIED Q4 FY 2022-23 – Investor Presentation - 4th May, 2023#2DISCLAIMER transformers & rectifiers (india) ltd This presentation and the discussion that follows may contain certain words or phrases that are forward - looking statements, based on current expectations of the management of Transformers and Rectifiers (India) Limited or any of its subsidiaries and associate companies ("TRIL"). Actual results may vary significantly from the forward-looking statements contained in this presentation due to various risks and uncertainties. These risks and uncertainties include the effect of economical and political conditions in and outside India, volatility in interest rates and the securities market, new regulations and Government policies that may impact the businesses of TRIL as well as its ability to implement the strategy. The information contained herein is as of the date referenced and TRIL does not undertake any obligation to update these statements. TRIL has obtained all market data and other information from sources believed to be reliable or its internal estimates, although its accuracy or completeness can not be guaranteed. This presentation is for information purposes only and does not constitute an offer or recommendation to buy or sell any securities of TRIL. This presentation also does not constitute an offer or recommendation to buy or sell any financial products offered by TRIL. Any action taken by you on the basis of the information contained herein is your responsibility alone and TRIL or its Directors or employees will not be liable in any manner for the consequences of such action taken by you. TRIL and/or its Directors and/or its employees may have interests or positions, financial or otherwise, in the securities mentioned in this presentation. ISO 45001 : 2018#3Our USP Today transformers & rectifiers (india) Itd Leading manufacturer of transformers up to 1200 kV class. • A wide range of transformers: Power and Distribution Transformers, Furnace Transformers, Rectifier Transformers & Special Transformers, creating a unique positioning in the country. • Strong in-house design & technical expertise; combined with technical collaboration/Joint Venture relationship for 765 kV Transformers & Reactors. Vision to become largest manufacturer of Transformers for Green Energy. Technical collaboration with Fuji, Japan for 400/765 kV reactors and 400 kV generator transformer. A diversified Pan India customer base, coupled with International presence in over 25 countries. Vision to become a leading global player in Transformer Industry. Fully integrated manufacturing set up efficiency. - creating economies and improving 3 ISO 45001 : 2018#4Key Milestones transformers & rectifiers (india) Itd Mr. Jitendra Mamtora, Started Started Transformer 1981 Transformer Manufacturing upto 33kV class 1984 Manufacturing upto 33kV class 1994 Incorporated as Triveni Electric Co. Ltd. 1995 Rechristened to Transformers & Rectifiers (India) Ltd. Expanded upto 110 kV Class Manufactured transformers 1997 transformers at the new plant at Changodar, Ahmedabad 2000 upto 100 MVA, 245 kV class TRIL Listed in both 2007 National Stock Exchange (NSE) & Bombay Stock Exchange (BSE) 2008 Crossed Turnover of INR 300 Crore 2009 Best Supplier Award from GETCO Development of 400kV Transformer 2010 Commenced Production at Moraiya Plant Crossed Turnover of Rs. 500 Cr. ISO 45001: 2018#5Key Milestones transformers & rectifiers (india) Itd Entered into strategic alliance with 2011 Ukraine Company for 765 kV Class Transformer Successfully manufactured and tested 2012 765kv class Transformer Supply of 315 MVA 400 kV class transformer to State Utility 2013 Awarded "Best under a Billion" company for The Region's Top 200 SME Size Companies by FORBES ASIA Crossed Turnover of Rs. 700 Cr. 2014 Development of 75MVA, 115kV Green Transformer filled with Ester fluid Development of 890kV Shunt Reactor 2015 Entered into Technology License agreement with Fuji Electric Co. Ltd. Received Order worth INR 400 Crore for Third Party Export 2015 2015 Developed and manufactured 70 MVA EAF Transformers for Iran 2016 Successful short circuit testing of 315 MVA, 400/220/33 kV 3 Phase auto transformers by KEMA Netherlands New JV with Jiangsu Jingke Smart Electric Co. Ltd, PRC for manufacturing of Switchgears 2016 Successfully commissioning of 1150 kV X'mer at PGCIL site 2017 Supplied 2x500 MVA, 400 KV Auto Transformers for Karnataka's first highest rating installation ISO 45001 : 2018#6Key Milestones 2017 Developed and Manufactured 132 MVA EAF Transformer for Mexico 2018 2018 Successfully type tested OIP Bushing up to 145 KV 2018 1. Developed and Manufactured 170 MVA EAF transformer for Gulf Countries 2022 2019 2. Received order for World's first 50MVAr Reactor with Synthetic Ester Oil, From PGCIL 2023 Achieved Milestone of INR 1350+ Cr turnover with all time high PAT. transformers & rectifiers (india) Itd Export of highest rating Power Transformer of 250 MVA, 130KV to Russia. Successfully executed 80 numbers of GREEN Transformers using natural ester fluid 1. Achieved Milestone of INR 1100+ Cr turnover including all time high Exports of INR 209 Cr. 2. First 500MVA/400KV Auto transformer supplied and commissioned in M.P. ISO 45001 : 2018#7Product Mix transformers & rectifiers (india) Itd Power Transformers Shunt Reactors Distribution Transformers Furnace Transformers Rectifier Transformers Classification of transformers Power Transformer Shunt Reactor Distribution Transformers Furnace Transformers Range Upto 1200 kV class Upto 765 kV class 160 kVA and above 220MVA/101KA Rectifier Transformers 100 KA DC Types Generator transformer, Unit Auxiliary transformers, Step up & Step down transformers, Interconnecting Auto transformers, Dual Voltage Primary or Secondary Three winding transformers Reactors upto 765 kV class Earthing transformers, Three winding transformers, Step up & Step down transformers, Dual voltage Primary or Secondary Arc Furnace, Induction Furnace, Laddle Arc Furnace and Submerged Arc Furnace transformers For DC power sources for Melt and Chemical Industries ISO 45001 : 2018#8STATE OF THE ART TESTING LAB FACILITY ULI transformers & rectifiers (india) ltd INFRASTRUCTURE 1000 Sq. meter, 25 meter high test bay with shielding suitable for partial discharge measurements Test Sources • 3000 kW 50/60 Hz Generator . 250kV Transformer for High Voltage test • 0-170kV Source Transformer for losses measurement . 1500 kW 200Hz Generator • 50 MVAr Capacitor Bank . 800kV Source Transformer (provision to increase upto 100MVAr) ISO 45001 : 2018#9Competitive Strengths transformers & rectifiers (india) Itd ■ Design & engineering capabilities developed indigenously enabling the company to achieve greater customization and cater to niche segments. In-house technical & ■ Designs structured so as to minimize losses occurring within the transformer. design capabilities ■ Unique distinction of being approved by utilities for power transformers up to 765 kV class without any external technological support. This becomes an entry barrier for new units. Backward integration providing timely & cost-effective access to critical raw material components. Cost Advantage Wide product portfolio and customer base Well positioned to move up the value chain ■ Installation of new machines (oven) has helped reduce cycle time to manufacture transformers. ■ Manufacturing entire range of transformers including power generation, T&D, industrial and certain special transformers. ■One of the largest manufacturers of furnace transformers. ■ Preferred supplier to many utilities & industrial companies in India. ■ Exported transformers to countries such as USA, England, Canada, Russia GCC., South Africa, Saudi Arabia, Australia, West Africa & Indonesia. ■ Manufacturing customized transformers & providing requisite on-site and after-sales service support. ■ Robust business model with revenues split almost equally between utilities & industries. Supported with strong technical collaboration with Fuji for 400/765 KV reactors and 400 Kv generator transformer. ■ KEMA, Netherlands BV, the world renowned short circuit testing laboratory, Successfully tested our 315 MVA, 400/220/33 kV, 3 phase auto transformer. ISO 45001 : 2018#10Growth Strategy Increasing its presence in International Markets Further developing niche business segments of private players which offer better margins Increasing market share in Furnace & Rectifier Transformers transformers & rectifiers (india) Itd transformers & rectifiers (india) ltd Optimal utilization of Manufacturing facilities Maintaining a judicious mix of Generation, T & D and Industrial Transformers Backward integration of products with higher markup ISO 45001 : 2018 10#11Q4 FY 2022-23 RESULT SUMMARY - STANDALONE transformers & rectifiers (india) ltd QoQ - Q4FY2023 YoY -12MFY2023 Revenue up by 30% ↑ 20% ↑ EBIDTA up by 40% 50% ↑ PBT up by 118% ↑ 131% ↑ PAT up by 163% ↑ 185% ↑ ISO 45001 : 2018#12FINANCIALS – STANDALONE - F transformers & rectifiers (india) ltd Q4 Q3 Q4 12M 12M Particulars (Rs. in Lakhs) FY 2022-23 FY 2022-23 FY 2021-22 FY 2022-23 FY 2021-22 Revenue from Operations Other Income 42,547 287 31,953 32,801 1,35,985 1,12,898 450 516 Total Income 42,834 32,403 33,317 1,186 1,37,172 1,246 1,14,144 Expenditure Cost of Raw Materials 33,538 23,349 26,777 1,04,031 92,039 Cost of Trading Goods 1,121 1,090 - 4,942 Employee Cost 1,206 1,039 746 3,807 2,987 Finance Cost 1,161 1.206 1,311 4,663 4,227 Depreciation Other Expenditure 645 884 303 2,257 1,531 3,898 3,736 3,599 12,630 11.265 Total Expenses 41,568 31,304 32,736 1,32,330 1,12,048 Profit Before Tax 1,266 1,099 581 4,842 2,096 Less Tax 384 (86) 246 1,133 793 Add: Other Comprehensive Income 3 4 (13) 14 3 PAT after Comprehensive Income 885 1,189 322 3,723 1,306 EBITDA 3,071 3,189 2,195 11,762 7,854 EBITDA Margin 7.17% 9.84% 6.59% 8.57% 6.88% PAT Margin 2.1% 3.7% 1.0% 2.7% 1.1% ISO 45001: 2018#13FINANCIALS – ASSETS & LIABILITIES - STANDALONE F transformers & rectifiers (india) ltd As at As at Particulars (Rs. in Lakhs) 31st March 31st March 2023 2022 Share Holders Fund 38,247 34,723 Long Term Borrowing 6,278 5,442 Other Non Current Liabilities 1,307 1,790 Short Term Borrowing 25,899 26,081 Current Liabilities 42,006 38,931 Current Tax Liabilities (net) 1,108 401 Total Equity and Liabilities 1,14,846 1,07,368 Property, Plant & Equipment Other Non Current Assets Cash and Bank Balances Other Current Assets Total Assets 13,361 14,563 4,441 4,362 2,298 4,464 94,746 1,14,846 83,978 1,07,368 ISO 45001 : 2018#14Q4 FY 2022-23 RESULT SUMMARY - CONSOLIDATED transformers & rectifiers (india) Itd QoQ - Q4FY2023 YOY -12MFY2023 Revenue up by EBIDTA up by PBT up by 27% ↑ 19% ↑ 77% ↑ 54% ↑ 556% ↑ 145% PAT up by 3925% ↑ 198% ↑ ISO 45001 : 2018 14#15FINANCIALS – CONSOLIDATED - F transformers & rectifiers (india) ltd Q4 Q3 Q4 12M 12M Particulars (Rs. in Lakhs) FY 2022-23 FY 2022-23 FY 2021-22 FY 2022-23 FY 2021-22 Revenue from Operations Other Income 43,375 64 32.829 34,062 409 289 Total Income 43,439 33,238 34,351 1,38,085 816 1,38,901 1,16,174 985 1,17,159 Expenditure Cost of Raw Materials 33,242 23,282 27,793 1,02,357 92,397 Cost of Trading Goods 1,121 1,090 4,942 Employee Cost 1,316 1,112 815 4,118 3,244 Finance Cost 1,199 1.234 1,336 4,796 4,359 Depreciation Other Expenditure 694 934 348 2,453 1,699 4,391 4,201 3,834 14,528 13,130 Total Expenses 41,963 31,853 34,126 1,33,194 1,14,829 Profit Before Tax 1,476 1,385 225 5,707 2,330 Less Tax 516 (27) 188 1,472 902 Add: Other Comprehensive Income 6 4 (13) 17 (3) PAT after Comprehensive Income 966 1,416 24 4,252 1,425 EBITDA 3,369 3,553 1,908 12,956 8,388 EBITDA Margin 7.76% 10.69% 5.55% 9.33% 7.16% PAT Margin 2.2% 4.3% 0.1% 3.1% 1.2% ISO 45001 : 2018#16FINANCIALS – ASSETS & LIABILITIES - CONSOLIDATED F transformers & rectifiers (india) ltd As at As at Particulars (Rs. in Lakhs) 31st March 31st March 2023 2022 Share Holders Fund 40,087 36,327 Long Term Borrowing 6,425 5,553 Other Non Current Liabilities 1,334 1,870 Short Term Borrowing 26,525 26,775 Current Liabilities 42,989 39,912 Current Tax Liabilities (net) 1,208 495 Total Equity and Liabilities 1,18,569 1,10,931 Property, Plant & Equipment Other Non Current Assets Cash and Bank Balances Other Current Assets Total Assets 15,059 16,376 4,085 3,659 2,745 96,680 1,18,569 4,638 86,259 1,10,931 ISO 45001 : 2018#17OPERATIONAL PERFORMANCE STANDALONE Particulars F transformers & rectifiers (india) ltd Q4 Q4 FY FY 2022-23 FY 2021-22 2022-23 FY 2021-22 Sales MVA Upto 220kV Above 220kV 2221 3815 7212 10508 3695 3028 13725 14248 Particulars Q4 Q4 FY FY 2022-23 FY 2021-22 2022-23 FY 2021-22 Sales Breakup - In Crore % In Crore % In Crore % In Crore % Customer Segment Utilities (SEBs, Rail and 219 52% 174 53% 694 51% 634 56% Utilities etc.) Industrial (incl. 186 44% 109 33% 585 43% 288 26% renewables) Exports (Incl. Third Party 20 5% 45 14% 80 6% 206 18% - Exports Utilities & Power, SEZ) Total 425 100% 328 100% 1,359 100% 1,129 100% ISO 45001 : 2018#18FUTURE BUSINESS PROSPECTS transformers & rectifiers (india) ltd Orders on Hand - Rs. 1773 Crs. as on 31st March, 2023. Major Event during in Q4 2022-23. ➤ Company have received order inflow of Rs. 393 Cr during the Quarter, out of which Rs. 164 Cr belongs to a Central Utility and Rs. 96 Cr belongs to 2 well known Indian Private Companies. ➤ Company has participated under bidding process of state utilities, central utilities, EPC's, Private, TBCB tenders etc. for more than Rs. 3000 Cr. during the quarter. ISO 45001: 2018#19OUTLOOK 2023-24 transformers & rectifiers (india) ltd - - There are challenges with uncertainty due to tense situation in Russia Taiwan Border, frequent changes Ukraine Border, China in repo rate by RBI, depreciating rupee, uncertainty in forex market due to rising acceptance of Yuan and fluctuations in copper and CRGO prices. However with our continuous focus & efforts on existing customers to get repetitive business, gaining opportunities in new market / segment and improving margins at all level, we are optimistic to achieve a double digit growth in revenue, and corresponding increase in PAT levels in FY 2023-24. To achieve the higher growth in sales and margins, the company has planned Capex to the tune of 70 Cr. for enhancing the production capacity in the Changodar Plant in FY 2023-24. ISO 45001: 2018#20transformers & rectifiers (india) Itd An ISO 9001:2015, ISO 14001:2015 & ISO 45001: 2018 CERTIFIED THANK YOU www.transformerindia.com