Transformers And Rectifiers (India) Limited has informed the Exchange about Investor Presentation

Date: 7th February, 2022 Ref: TRIL/SECT/2021-22/NSE-BSE/COMPL/48

To, The Secretary BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001 Security Code : 532928

To, The Secretary National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra - Kurla Complex, Bandra (E), Mumbai - 400 051 Trading Symbol : TRIL

Dear Sir/Madam,

Sub: Presentation

With reference to the captioned subject, we send herewith Presentation of the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine month ended 31st December, 2021 pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Please take the same on your record.

Thanking you,

Yours faithfully, For Transformers and Rectifiers (India) Limited

Rakesh Kiri Company Secretary

Encl.: As above.

T & R is one of the leading manufacturers of a wide range of transformers globally. Today T & R is second largest Transformer manufacturing company based on Capacity in India. It has capability to develop world class power, distribution, furnace and specialty transformers with world class infrastructure at three plants around the city of Ahmedabad (Gujarat, India). T & R is managed by a highly skilled and experienced team of approximately 1200 employees, who consistently ensure that each and every activity factors in an adherence to high quality benchmarks established by the organisation.

An ISO 9001:2015, ISO 14001:2015 & ISO 45001 : 2018 CERTIFIED

Q3 - FY 2021-22 - Presentation 7th February, 2022

DISCLAIMER

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

EXECUTIVE SUMMARY Standalone Financials

Particulars

F Y 2021-22 FY 2020-21

Variance

Remark

Q3

Sales ( MVA )

Sales

EBITDA

PBT

PAT

6216

32,558

2,021

648

424

Rs. In Lakhs except Sales ( MVA )

4180

2036 Up by 48.71%

16,164

Up by 98.60%

318

Up by 18.67%

525

Up by 426.83%

378

Up by 821.74%

16,394

1,703

123

46

9M

Particulars

F Y 2021-22 FY 2020-21

Variance

Remark

Rs. In Lakhs except Sales (MVA)

Sales ( MVA )

Sales

EBITDA

PBT

PAT

16124

79,680

5,659

1,515

978

12728

45,390

4,764

168

83

3396 Up by 26.68%

34,290

Up by 75.55%

895

Up by 18.79%

1,347

Up by 801.79%

895

Up by 1078.79%

ISO 45001 : 2018

FINANCIALS - STANDALONE

Particulars (Rs. in Lakhs)

Revenue from Operations

Other Income

Total Income

Expenditure

Cost of Raw Materials

Employee Cost

Other Expenditure

Depreciation

Finance Cost

Profit Before Tax

Less : Tax

Add: Other Comprehensive Income

PAT after Comprehensive Income

EBITDA

EBITDA Margin

PAT Margin

Q3

9M

FY 2021-22 FY 2020-21 FY 2021-22 FY 2020-21 45,090

32,558

16,394

79,680

F Y

2020-21

72,686

982

716

76

33,274

16,470

1,147

80,827

300

45,390

73,668

27,134

741

3,378

431

942

648

227

3

424

2,021

6.07%

1.27%

12,128

65,261

33,207

54,774

643

1,996

441

1,139

123

80

3

46

1,703

10.34%

0.28%

2,241

7,666

1,228

2,916

1,515

547

10

978

5,659

7.00%

1.21%

1,912

5,507

1,330

3,266

168

95

10

83

4,764

10.50%

0.18%

2,602

8,959

1,767

4,492

1,074

379

6

701

7,333

9.95%

0.95%

ISO 45001 : 2018

Q3 FY 2021-22 RESULT HIGHLIGHTS

Q3 FY 2021-22  Revenue from Operations stood at Rs. 325.58 Cr increased by 99% as compared to Q3 FY 2020-21 due to export sales shipment.

 EBIDTA stood at Rs. 20.21 Cr as compared to Rs. 17.03 Cr during Q3FY 2019-20 (19% up) due to better gross margins in export orders & industrial consumers.

9 Month FY 2021-22  Revenue from Operations stood at Rs. 796.80 Cr, increased by 76% as compared to 9M FY 2020-21 impacted due to price increase of product and higher export sales.

 EBIDTA stood at Rs. 56.59 Cr as compared to Rs. 47.64 Cr during 9M FY 2020-21 (19% up) due to better product mix & achievement of export business.

ISO 45001 : 2018

FINANCIALS - CONSOLIDATED

Particulars (Rs. in Lakhs)

Revenue from Operations

Other Income

Total Income

Expenditure

Q3

9M

FY 2021-22 FY 2020-21 FY 2021-22 FY 2020-21 45,830

33,491

16,845

81,902

489

95

906

339

F Y

2020-21

74,208

960

33,980

16,940

82,808

46,169

75,168

Cost of Raw Materials

26,907

12,006

64,604

32,629

Employee Cost

Other Expenditure

Depreciation

Finance Cost

Profit Before Tax

Share of profit/(loss) of associates and joint ventures Less : Tax

Add: Other Comprehensive Income

PAT after Comprehensive Income

EBITDA

EBITDA Margin

PAT Margin

804

3,977

470

983

839

-

282

3

560

2,292

6.75%

1.65%

702

2,333

483

1,177

239

-

128

3

114

1,899

11.21%

0.67%

2,429

9,296

1,351

3,023

2,105

-

714

10

1,401

6,479

7.82%

1.69%

2,086

6,425

1,457

3,356

216

(2)

111

10

113

5,029

10.89%

0.24%

54,150

2,844

10,366

1,934

4,621

1,253

(2)

488

6

769

7,808

10.39%

1.02%

ISO 45001 : 2018

Q3 FY 2021-22 RESULT HIGHLIGHTS Consolidated

Q3 FY 2021-22

 Revenue from Operations stood at Rs. 334.91 Cr increased by

99% as compared to Q3FY 2020-21.

 EBIDTA stood at Rs. 22.92 Cr as compared to Rs. 18.99 Cr

during Q3FY 2019-20 (21% up) .

9 Month FY 2021-22

 Revenue from Operations stood at Rs. 819.02 Cr, increased by

79% as compared to 9M FY 2020-21.

 EBIDTA stood at Rs. 64.79 Cr as compared to Rs. 50.29 Cr

during 9M FY 2020-21 (29% up).

ISO 45001 : 2018

OPERATIONAL PERFORMANCE

Particulars

Sales MVA Upto 220kV Above 220kV

Particulars

Sales Breakup - Customer Segment Utilities (SEBs, Rail and Utilities etc.) Industrial (incl. renewables) Exports (Incl. Third Party Exports - Utilities & Power) Total

Q3

9M

FY 2021-22

FY 2020-21

FY 2021-22

FY 2020-21

FY 2020-21

3370 2846

2440 1740

6693 9431

6886 5842

10286 10286

Q3

FY 2021-22

In Crore % In Crore

FY 2020-21 %

9M

FY 2021-22

FY 2020-21

FY 2020-21

In Crore % In Crore % In Crore

%

122

37%

86

52% 362 45%

216 48% 345 47%

73

22%

63

38% 241 30%

200 44% 284 39%

135

41%

15

9% 198 25%

34

8% 98 13%

330 100% 164 100% 801 100%

450 100%

727 100%

ISO 45001 : 2018

Future Business

Orders on Hand - Rs. 1046 Crs as on 31st December, 2021.

Major Event during in Q3 2021-22.

 We have

Rs. 307 Crs.

received order

from State utility

for

 We have received orders from Private Company for

Rs. 73 Crs.

In addition to orders on hand, we have participated in bidding process of central & state utilities and quoted to industrial consumers for more than Rs. 700 Crs.

ISO 45001 : 2018

Outlook 2021-22

With the current orders on hand, execution of orders and nine months results of the Company, we have revisited the data and projecting the revised estimate for the financial year 2021-22 as below :

Outlook FY 2021-22

Sales EBITDA PAT

Original

Revised Estimate 800 - 850 Crores 1050 - 1100 Crores

10% to 12% 1% to 2%

7% to 8% 1% to 2%

*EBIDTA will reduce in relative term due to substantial Increase in Raw Material Prices which has impact on Revenue and RM Consumption. But, EBIDTA will increase in absolute terms.

First time in the history of Company, Company will achieve Sales of more than Rs. 1000 Crores ( including export sales of more than Rs. 200 Crores ) in financial year.

ISO 45001 : 2018

Business Updates

In the Union Budget 2022-23, Honorable Union Finance Minister Mrs. Nirmala Sitharaman informed regarding issue Surety Bond instead of issue Bank Guarantees in Government Procurements.

This big change in replacement of Bank guarantees will be impacting on business to strengthen financials of the Company.

The Company being engaged into supplies of Transformers directly/ through EPC(s) to Central and State Utilities. Now, post implementation of the above budget declaration about issuance of Surety Bond, the Company will get benefit of reduction of overall debt in form of Bank Guarantees by minimum 25%.

More details are awaited………

ISO 45001 : 2018

STRENGTH

In-house technical & design capabilities

 Design & engineering capabilities developed indigenously & in-house enabling the company to  Design & engineering capabilities developed indigenously & in-house enabling the company to

achieve greater customization and cater to niche segments achieve greater customization and cater to niche segments

 Designs structured so as to minimize the losses occurring within the transformer  Designs structured so as to minimize the losses occurring within the transformer

 Unique distinction of being approved by utilities for power transformers up to 400 kV class  Unique distinction of being approved by utilities for power transformers up to 400 kV class

without any external technological support without any external technological support

Cost Advantage

components components

 Backward integration providing timely & cost-effective access to critical raw material  Backward integration providing timely & cost-effective access to critical raw material

 Installation of new machines (oven) has helped reduce cycle time to manufacture transformers  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  Manufacturing entire range of transformers including power generation, T&D, industrial and

certain special transformers certain special transformers

Wide product portfolio and customer base

 One of the largest manufacturers of furnace transformers  One of the largest manufacturers of furnace transformers

 Preferred supplier to many utilities & industrial companies in India  Preferred supplier to many utilities & industrial companies in India

Well positioned to move up the value chain

 Exported transformers to countries such as England, Canada, U.A.E., South Africa, Saudi Arabia  Exported transformers to countries such as England, Canada, U.A.E., South Africa, Saudi Arabia

& Indonesia & Indonesia

 Manufacturing customized transformers & providing requisite on-site and after-sales service  Manufacturing customized transformers & providing requisite on-site and after-sales service

support support

 Robust business model with revenues split almost equally between utilities & industries  Robust business model with revenues split almost equally between utilities & industries

 In house capabilities and self reliance by way of backward integration.  In house capabilities and self reliance by way of backward integration.

 Supported with strong technical collaboration with ZTR for 765 Kv transformer & with Fuji for  Supported with strong technical collaboration with ZTR for 765 Kv transformer & with Fuji for

400/765 KV reactors and 400 Kv generator transformer. 400/765 KV reactors and 400 Kv generator transformer.

 KEMA, Netherlands BV, the world renowned short circuit testing laboratory, Successfully tested  KEMA, Netherlands BV, the world renowned short circuit testing laboratory, Successfully tested

our 315 MVA, 400/220/33 kV, 3 phase autotransformer our 315 MVA, 400/220/33 kV, 3 phase autotransformer

ISO 45001 : 2018

PRODUCT PORTFOLIO

Distribution Transformers

Furnace Transformers

Power Transformers

Rectifier Transformers

Classification of transformers

Range

Types

Power Transformer

Upto 1200 kV class

Generator transformer, Unit Auxiliary transformers, Step up & Step Auto transformers, Dual Voltage Primary or Secondary Three winding transformers

Interconnecting

transformers,

down

Shunt Reactor

Upto 765 kV class

Reactors upto 765 kV class

Distribution Transformers

160 kVA and above

Furnace Transformers

105 kA and above

Earthing transformers, Three winding transformers, Step up & Step down transformers, Dual voltage Primary or Secondary

Arc Furnace, Submerged Arc Furnace transformers

Induction Furnace, Laddle Arc Furnace and

Rectifier Transformers

Upto 160 kA DC

For DC power sources for Melt and Chemical Industries

ISO 45001 : 2018

TESTING LAB FACILITY

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

An ISO 9001:2015, ISO 14001:2015 & ISO 45001 : 2018 CERTIFIED

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