#1TUBE INVESTMENTS OF INDIA LIMITED Corporate Presentation 03-Aug-2023#2Disclaimer S INDIA Certain statements made in this presentation may not be based on historical information or facts and may be “forward looking statements," including those relating to general business plans and strategy of Murugappa Group and Group Companies, future outlook and growth prospects, and future developments in businesses and competitive and regulatory environment. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in Murugappa Group's Businesses, competitive environment, ability to implement strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in India. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, or a solicitation of any offer, to purchase or sell, any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of Murugappa Group Companies' shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or in relation to the shares of Murugappa Group Companies shall be deemed to constitute an offer of or an invitation by or on behalf of Murugappa Group. Murugappa Group as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation. Murugappa Group assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information or events, or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. Murugappa Group may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. This presentation may not be copied and disseminated in any manner. THE INFORMATION PRESENTED HERE IS NOT AN OFFER OR SOLICITATION OF ANY OFFER TO PURCHASE OR SELL ANY EQUITY SHARES OR ANY OTHER SECURITY OF MURUGAPPA GROUP COMPANIES.#3Group Overview#4Group Companies - Listed & Unlisted G G CG Power Chola Financial Holdings Ambadi PARRY AGRO NEW AMBADI *Unlisted Entities Agriculture PARRYS T INDIA Coromandel FUTURE POSITIVE Shanthi Gears Engineering CUMI WENDT Turning the Wheels of Industries, Worldwide Chola Enter a better life Financial Services P/X\ PARRY MURRAY 6 COMPANY LIMITED M WS Murugappa Organo Water Solutions Others PARRY ENTERPRISES Chola MS GENERAL INSURANCE COROMANDEL ENGINEERING#5Other Group Companies & JVs MMorgan Advanced Materials net access KADAMANE internet technologies Volzhsky Abrasive Works CSQM Coromandel SQM SPECIALITY PLANT NUTRITION EXPERTS ZFoskor Zirconia ALGAVISTA S INDIA sedis STERLING ABRASIVES LTD. GRINDING WHEELS FOSKOR MONTRA —LECTRICI TI Clean Mobility Pvt Ltd CELLESTIAL Є MOBILITY I empower IPL Tech Electric Pvt Ltd X2 fuels LOTUS because life is precious SEDCO Moshine Electronics Pvt Ltd#6The Philosophy We Cherish murugappa Group Philosophy "The fundamental principle of economic activity is that no man you transact with will lose, then you shall not." - An excerpt from Arthashastra S INDIA#7CLASSIC About TII#8TII in Nutshell ○ Largest manufacturer of cold drawn welded steel tubes in India ○ Market leader of transmission chains in India & 2nd largest manufacturer of cycles transmission chains in India ○ 35+ Manufacturing locations Tube Products of India (TPI) BSA H HERCULES montra TRACK&TRAIL CYCLES AND MORE Shanthi Gears sedis Turning the Wheels of Industries, Worldwide G LOTUS because life is precious TI Cycles of India (TICI) Industrial Chains (IC) MONTRA -ELECTRIC- 3-Wheeler Metal Formed Products (MFP) CELLESTIAL C MOBILITY empower Tractor TI Clean Mobility (EV businesses) HCV Shanthi Gears Limited (SGL) SEDIS Group, CG Power & Industrial Solutions France S INDIA#9Market Capitalisation Share Price as at period end CAGR +57% 61,360 49,173 31,258 22,984 7,189 4,171 Mar'18 5,148 Mar'19 Mar'20 Mar'21 Mar'22 Mar'23 Jun'23 *222 *383 *274 *1,192 *1,620 *2,547 *3,175 S INDIA INR Crores#10Shareholding Pattern As of 30th Jun'23 Mutual funds/AIF 12% FII 29% Others 12% Promoter Shareholding of 46% includes Ambadi Investment Limited 36% and Others 10% Promoter & 46% Promoter Group S INDIA#11TII Performance Trends Revenue S INDIA Profit Before Tax (before exceptional items) INR Crores I 7,236 928 6,359 5,286 4,571 4,276 4,256 628 371 421 381 1,780 218 198 FY18 FY19 FY20 FY21 FY22 FY 23 Q1 FY18 FY19 FY20 FY21 FY22 FY 23 FY 24 Q1 FY 24 FCF & FCF/PAT% ROIC% (pre-tax) 195% 87% 97% 70% |91%| 66% 43% 608 47 55 55 56 533 320 26 29 32 212 205 18 95 97 FY18 FY19 FY20 FY21 FY22 FY 23 Q1 FY18 FY19 FY20 FY21 FY 24 FY22 FY23 Q1 FY24#12TII Standalone Performance Revenue PBT & PBT% (before exceptional items) INR Crores G INDIA 1,957 1,780 10% 12% 180 198 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 FCF & FCF/PAT% 104% 66% 139 97 ROIC% (pre-tax) 56 51 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24#13Business Segments III Engineering Business Tube Products of India (TPI) - Most preferred supplier of precision tubes, ERW and CDW to major automotive companies in India & abroad. उठे Mobility Division TI Cycles was the first bicycle company to change the cycle retail landscape, both in urban and rural areas. INDIA O Metal Formed Products TI Metal Forming is pioneer in Sheet Metal Formed Products, Fine Blanked Components, Industrial Chains, Motor Casings, etc. - Major Subsidiaries CG Power Manufacturer of Industrial and Power segment products Shanthi Gears - Manufacturer of power transmission products Sedis - Manufacturer of Industrial & Engineering class chains in France TICMPL - Engaged in manufacturing of EV (3W, Tractor, M&H CV and SCV). Lotus Manufacturer of medical and surgical consumables 3XPER Innoventure business - CDMO and API#14Engineering Division □ One of the World's Largest manufacturer of Cold Drawn Welded Precision Tubes ☐ One of the leading precision tube manufacturer for the automotive industries ☐ Specially designed tubes for the hydraulic and pneumatic applications Precisely develop products based on the needs of every industry#15Products, Location & Strengths Products • Key Strengths Market leader and preferred Indian supplier in CDW Tubes. • Major manufacturer with the engineering expertise to offer customized, application specific CRSS and tubular products. State-of-the-art manufacturing facilities proximately located to customers in key geographies. ۱۱/ Strengths ooooooo Products Locations Manufacturing Locations Tamil Nadu - Avadi and Tiruttani Maharashtra - Shirwal and Nashik Punjab - Mohali and Rajpura Electric Resistant Welded Tubes Cold Drawn Welded Tubes Tubular Components Cold Rolled Steel Strips 00 Large Diameter Tubes S INDIA#16Engineering Division Performance Revenue 1,244 1,142 PBIT & PBIT% 9% 12% 135 118 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 FCF & FCF/PAT% 172% 7% 138 ROCE% 71 14 6 Q1 FY23 Q1 FY24 Q1 FY23 64 .. Q1 FY24 G INDIA INR Crores#17Metal Formed Products#18Metal Formed Products ☐ Specialized in manufacturing Cold roll formed sections and components ☐ Preferred supplier of Auto OEMs in various segments. Leader in manufacturing of car doorframes in India, servicing major OEMs in India. ☐ Has diversified product segments like Auto components (Chains, Kits, etc), Doorframes, Railways (Coach parts), Fine Blanking. 010 50#19Products, Location & Strengths Key Strengths . Market leader in automotive drive and cam chains. DIAMOND Products Preferred supplier for roll formed car doorframes in India. Capability to offer just-in-time service and last mile connectivity to customers. • World class high speed presses and process capabilities for manufacturing high quality, fine blanked products of very close tolerance. • Global manufacturer of repute for safety critical components for the Automotive industry. • Robotic automation and high precision fabrication capabilities for the Railway sector. Strengths Ö Locations OOOOOOO Products Auto Kits (Rombo & Diamond Brand) Manufacturing Locations - Tamil Nadu Chennai, Kakkalur Haryana Bawal; Uttrakhand - Laksar Gujarat Sanand Andhra Medak Auto Chains Doorframes Fine Blanking Tejas Coach Railway Coach Parts S INDIA#20Products Cam Chains After Market Brands DIAMOND DIAMOND LEGEND DIAMOND NEW IMPROVED BULLET DIAMOND Fine Blanked Products Door Frames Divisional Channels Side Impact Beams Cowl Cross Beam Railways S INDIA#21Metal Formed Products Division Performance Revenue 335 342 PBIT & PBIT% 11% 13% 44 38 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 FCF & FCF/PAT% 29% 27% 7 8 ROCE% 56 51 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 G INDIA INR Crores#22Mobility Division#23Bicycles Business ☐ Manufactures a wide range of Bicycles and accessories from Standard to Premium bicycles, including Performance bicycles for the fitness and adventure space ○ Special bicycles catering to all ages and customer profiles: kids, adolescent boys & girls, urban adults and performance cyclists. Standard bicycles for rural and semi-urban commuters. ○ Premium Cycling Group caters to the performance cyclists through an array of prestigious home grown and international brands First bicycle company to change the cycle retail landscape, both in urban and rural areas.#24Products, Location & Strengths • Key Strengths Pioneer in Retail format of experiential stores - Track & Trail Urban, Track & Trail Sport and BSA Hercules Rural outlets. • Omni-channel presence with unified online and in- store experience and renowned online market places BSA Workouts cater to the fitness needs through a range of offerings. Strengths 0000000 Products Locations Manufacturing Locations Tamil Nadu - Ambattur Punjab Rajpura Products ROADED montra Premium Cycles BSA HERCULES Standards Specials BIRD RIDLEY TRACK TRAIL cannondale mongoose Retail Track & Trail INDIA#25SHACK&TRAIL TRACK TRAIL BIKING AND BEYOND mongoose. G SCHWINN Bianchi cannondale mongoose Track & Trail Experience#26Glimpse of Customer Awards AWARDED Superbrands INDIA Consumer Validated 2023 BSA HERCULES BSA HERCULES AWARDED Superbrands INDIA Consumer Validated 2023 Hercules & BSA won the Super Brands for the year 2023#27Mobility Division Performance Revenue 246 187 PBIT & PBIT% 4% INR Crores G INDIA 9 1% 2 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 FCF & FCF/PAT% -15 32 Q1 FY23 Q1 FY24 ROCE% 29 29 Q1 FY23 9 Q1 FY24#28Others#29Industrial Chains - Manufacturer of Various classes of Industrial Chains Roller Chains, Extended pitch chains, Rubber top chains, Hollow pin chains, Leaf chains, Attachment chains, Extended pin chains, Stainless steel chains, Accumulator chains - ☐ Used for various applications Material handling, Construction, Agriculture, Textile, Food industry, Oil Field etc - ☐ Has diversified product segments OE and Dealer segments. ☐ Sizeable portion constitutes exports 800 Power transmission and Conveying Chains 88 did che Engineering Class Chains Agri Chains#30Others Performance (including Industrial Chains) Revenue PBIT & PBIT% 8% 13% 24 223 18 178 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 FCF & FCF/PAT% -32 46 19 ROCE% 42 42 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 G INDIA INR Crores#31Subsidiaries and Associates#32+ CELLESTIAL C MOBILITY empower MONTRA -ELECTRIC- TI Clean Mobility Private Limited#33TI Clean Mobility Private Limited Product Segment ✓ Electric 3W Auto (manufactured by TICMPL) ✓ Electric M & HCV (through its Subsidiary IPLTech Electric Pvt Ltd) ✓ Electric Tractors (through its Subsidiary Cellestial) ✓ Electric SCV (through its Subsidiary TIVolt Electric Vehicles Pvt Ltd) Funding ✓ TII has invested Rs. 250 Cr. in to TICMPL as Equity and Rs. 500 Cr. as Compulsorily Convertible Preference Shares (CCPS) ✓ Multiples Private Equity along with their Co-Investors invested Rs. 1200 Cr. in to TICMPL as CCPS. ✓ Raised funds of Rs. 1950 Cr. so far. S INDIA#34VALUE PROPOSITION FOR THE CONSUMER ATTRACTIVE PRODUCT DESIGN & TECH INNOVATIONS SUPERIOR PRODUCT DESIGN CATERGORY FIRST TELEMATICS & UI/UX EXPERIENCES IMPROVED DRIVER/ OWNER/PASSENGER USAGE EXPERIENCES PERFORMANCE & COMFORT MAXIMISING DAILY EARNINGS PRIDE OF OWNERSHIP & ECO FRENDLINESS - - - - - - CATERGORY FIRST TELEMATICS WITH DRIVER ASSISTANCE SERVICES ERGNOMIC INETRIOR DESIGN FOR IMPROVED COMFORT FIRST IN CATEGORY PERFORMANCE FEATURES TOTAL COST OF OWNERSHIP FINANCING OPTIONS EASY OWNERSHIP OPTIONS LOW RUNNING COST BETTER RESALE VALUE PASSENGER CENTRIC MARKETING COMMUNICATION BEST IN CATEGORY EXPERIENCE CENTRES WITH PRIDE IN PURCHASE SUPERIOIR BRAND/PRODUCT POSITIONING IMPROVED QUALITY LIFE#35Product Launch SUPER AUTO SUPER AUTO SUPER AUTO SUPER AUTO TRA TRIC MONTRA ELECTRIC MONTRA ELECTRIC MONTRA ELECTRIC: RAUTO MONTRA TLECTRIC TRA ECTRIC SUPER AUTO monTRA SUPER AL mons ELECTR UF TT520 MONTRA FLECTRIC SUPER A SUPER AUTO MONT FLECTRE SUPER A MONTRA ELECTRIC MONTRA MONTRA#36Cellestial INDIA'S 1ST ELECTRIC TRACTOR Cellestial eMobility is India's first manufacturer of Electric Tractors. Our goal is to revolutionize eMobility in India by producing innovative automobiles that address sustainability and efficiency. Cellestial e-Tractors are cost effective, pollution free, maintenance and noise free. 36#37IPLTech Electric Pvt Ltd (IPLT) ] IPLT is a manufacturer of electric heavy commercial vehicles, which launched India's first electric truck - RHINO 5536. RHIND IPLTech Electric 5536 HR/55/TC/2019/64/3 INDIA'S FIRST ELECTRIC TRUCK- IPLT RHINO 5536 TI Clean Mobility Pvt Ltd (TICMPL) acquired 65.2% equity stake in IPLT on 21st Sept'22. Consequently, IPLT became a subsidiary of TICMPL.#38Electric small commercial vehicle business ("e-SCV") TICMPL, a subsidiary of the TII, on 3rd July 2023 entered into an agreement with Mr. Anand Jayachandran for pursuing electric small commercial vehicle business ("e-SCV') through a subsidiary to be incorporated by TICMPL. On 25th July 2023, TICMPL has incorporated a subsidiary company, viz., TIVOLT ELECTRIC VEHICLES PRIVATE LIMITED, to carryout e-SCV business. TICMPL will be investing Rs. 160 Crores and Mr. Anand Jayachandran will be investing Rs. 40 Crores in the form of equity.#39Jayem Automotives • TICMPL on 3rd July 2023 entered into definitive agreements for acquisition of 50% in the equity share capital of M/s. Jayem Automotives Private Limited ("Jayem"), Jayem is an automotive research & development company engaged in design, development, testing and manufacturing of a wide range of automotive components, systems and prototypes The Acquisition is through a combination of purchase of equity shares from the promoters of Jayem and by way of subscription to fresh equity shares. The aggregate consideration for Acquisition is up to Rs.206 Crores.#40CG Power 85 Years of presence in India ☐ One of top 10 World's Transformer Manufacturer #1 motors manufacturer in India One of the largest manufacturers of Transformers & Switchgears in India Acquired 58.58% stake (diluted) during Nov’2020 3 D A " 2 SAPHY#41Key Business Verticals POWER Sub-segments Transformers and Reactors Switchgear EPD पावरग्रिड Key Clientele INDUSTRIALS Sub-segments Railways Motors Drives & Automation Stampings RELIANCE एनटीपीसी Energy Anil Dhirubhal Ambani Group बीएचईएल SIEMENS ADITYA BIRLA 3 Zolofteft NTPC BHEL ABB UltraTech Ambuja Cement ongc Key Clientele रेल INDIAN TATA TATA STEEL सेल SAIL Bharat Petroleum इंडियन ऑयल IndianOil S INDIA#42Railways Industrials: Consistently among the top players Motors LT Motors Large Motors FHP Motors Products Peers Customers E INDIA ABB, Siemens Bhel, ABB Marathon, Lawkim OEMS of Pumps, Compressors, Gear Box and Construction Equipment and industries such as power, transmission, oil and gas, cement, metals & mining and in railways transportation AC Traction Motor TM 6068 Propulsion Electrics IGBT Propulsion System Loco Transformer Relay Bhel, Saini Bhel BTIL, Bhel, ABB ABB, Bhel AEW Integral Coach Factory (ICF) Chittaranjan Locomotive Works (CLW) Diesel Locomotive Works (DLW) and Diesel-Loco Modernisation Works (DMW) Point Machine Carriage Fan (BLDC) Vossloh Kanwar#43Transformers Switchgears Power: Consistently among the top players EHV Instrument Transformers Surge Arresters Gas Circuit Breakers MV Switchgear Products 100 Peers GE, ABB, BHEL Customers OBLUM, Lamco GE, Siemens ABB, Schneider Power Grid Corporation of India Limited (PGCIL) Nuclear Power Corporation of India Limited (NPCIL) ◆ NTPC ❖ State-level transmission and distribution utilities HV GIS S6 (Vacuum Interrupters) Power Transformers Distribution Siemens, ABB BEL, ABB GE, TBEA Transformers Voltamp, Tesla PGCIL NTPC NHPC Limited Larsen & Toubro (L&T) ❖ GE ❖ Torrent S INDIA#44CG Power -Financials Standalone INR Crores Consolidated Particulars Q1 FY 23 Q1 FY 24 Q1 FY 23 Q1 FY 24 Revenue 1,559 1,766 1,643 1,874 PBIT 170 256 172 263 Interest 5 1 5 1 PBT (before exceptional) 165 256 167 263 Exceptional Item 1 0 1 1 PBT (after exceptional) 166 256 168 263 PBT from discontinued operations 0 0 15 6 PAT 124 192 130 204 S INDIA#45Shanthi Gears ☐ Pioneer in gear manufacturing and ranks amongst India's top gear manufacturers. □ Offers a comprehensive range of products and services - cutting edge gear solutions for a wide range of applications and specialized gear reconditioning services ☐ Has been the preferred name for gear and gear box solutions for some of the biggest names in the industry.#46Helical; Gears & Pinions; Worm Gear Box; Worm Spares; Products for Textiles & Foundry Gear Business David Brown Bharath Forge; GE; BHEL; Caterpillar, Siemens; TATA; Indian Railways; Areva; ELGI; Kone Cranes; Cummins; UniGear; Clean Energy; L&T; Voith etc... ما 3 manufacturing units in Coimbatore ① INDIA#47Products Spur/ Helical Gear Internal Pinion Shaft Gear Worm and Wheel Straight Bevel Spiral Bevel Worm Gearboxes- Adaptable Worm Gearboxes- Standard Worm Gearboxes- Special Helical Gearboxes Bevel Helical Gearboxes S INDIA#48Shanthi Gears Limited Performance Revenue 121 99 PBIT & PBIT% 18% 20% 18 24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 FCF & FCF/PAT% 130% 17 190% 34 Q1 FY23 Q1 FY24 45 ROIC% Q1 FY23 54 54 Q1 FY24 G INDIA INR Crores#49SEDIS Specialized in designing chains for transmission, agricultural, lifting, adapted and conveyor. ☐ With more than 500 technical distribution points in France, Sedis currently has the Number One distribution network for French industrial chains.#50Moshine Electronics Pvt Ltd (MEPL) Moshine Electronics is a manufacturer of camera modules for mobile phones. Tube Investments of India Ltd (TII) acquired 76% equity stake in MEPL on 23rd Sept'22. Consequently, MEPL became a subsidiary of TII.#51X2 Fuels - Waste to Fuel and Energy TII acquired 50% stake in X2Fuels and Energy Private Limited ("X2Fuels”), a start-up company start-up company engaged in energy/waste management, developing processes to convert waste to liquid/solid fuels. Major Projects • Processing of commercial business complex wastes into biocrude by hydrothermal liquefaction process to produce power and bio- degradable plastic blends. Processing of Municipal Solid Waste via Hydrothermal Liquefaction to Produce Crude. HINDUSTAN PETROLEUM CORPORATION LIMITED HP GREEN RADCENTRE NEW GENERATION IDEATION CONTEST 2020 OPEN CATEGORY THIRD PRIZE#52Medical Business: ● Lotus is an established company engaged in the business of manufacturing and supply of medical and surgical consumables. • TII Invested Rs. 233 Cr. to acquire 67% of equity share capital of Lotus and balance 33% was acquired by Premji Invest. LOTUS because life is precious LOTUX#53CDMO business: • TII entered into an agreement with Mr. N Govindarajan (NG) and incorporated a subsidiary named "3xper Innoventure Limited" Company will engage in Contract Development and Manufacturing Operation (CDMO) and active pharmaceutical ingredients business • TII will be investing Rs. 285 Crores and NG will be investing Rs. 15 Crores in the subsidiary#54The light of INTEGRITY that gives us the courage to always do the right thing The Spirit of the Murugappa Group These five lights guide us as we navigate through professional and personal decisions. The light of RESPONSIBILITY that gives us the humility to think about the world around us murugappa The light of PASZION that provides us with the desire to win The light of RESPECT that inspires people around us to perform The light of QUALITY which makes us dream of excellence#55Contact us Registered Office Tube Investments of India Ltd. "Dare House", 2, (Old No. 234), NSC Bose Road, Chennai-600 001, India. Phone: +91 44 42177770-6 Fax: +91 44 42110404 www.tiindia.com Email ID S Krithika - Company Secretary [email protected] AN Meyyappan - Chief Financial Officer [email protected] S INDIA#56Thank you