Investor Presentaiton

Working Capital Cycle WORKING CAPITAL DISTRIBUTION (IN DAYS) WORKING CAPITAL DAYS (IN DAYS) FY17 FY18 FY19 FY20 FY21 FY22 FY17 FY18 FY19 FY20 FY21 FY22 ■Inventory Days ■Receivable Days ■Payable Days Advance Days REASONS FOR HIGH WORKING CAPITAL INVENTORIES High lead time of WIP-inventories due to a 6 months sun-baking seasoning procedure of machine structures, for high-performance machines Critical imported components of machines kept in sufficient buffer to avoid any production breaks DEBTORS Seasonality more sales made in Q3 & Q4 of the financial I year, leading to higher debtors at year-end EFFORTS TO OPTIMIZE WORKING CAPITAL INVENTORIES ☐ Deploying a technology called 'Vibratory Stress Relieving' & other artificial seasoning methods which will reduce the lead time by eliminating the sun-baking process. Adding suppliers in vicinity (including casting suppliers) to the manufacturing unit, reducing the need to carry higher inventories Limiting business in Oil & Gas sector, where these high-performance machines are deployed Outsourcing manufacturing or certain sub-assemblies AIM TO BRING DOWN WORKING CAPITAL CYCLE TO 150-180 DAYS BY FY23. 23 MARSHALL MACHINES LIMITED

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