Tirupati Forge Limited has informed the Exchange about Investor Presentation
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2022
Investor Presentation
w w w . t i r u p a t i f o r g e . c o m
Table of Contents
Company Overview
Industrial Overview
Business Overview
Financial Highlights
Competitive Strength
Company Overview
01
Who we are ?
Incorporated in 2012.
Forge Limited
Company holds Quality certificate namely IATF 16949:2016, ISO 9001:2015, PED AD 2000 & Canadian Registration for all provinces of Canada.
Our company is engaged in manufacturing & exporting of forged and machined components like Auto Components, Bearings, Gears, Flanges, Spindles, Hollow Jobs, Axles, Stub Ends, etc.
Manufacturing facilities is situated at Hadamtala,
Dist. Rajkot, Gujarat.
Company has
testing and R&D laboratory to ensure the quality of the raw material & product is maintained.
in-house
Revenue Rs. 8930.32 Lacs with PAT 622.31 Lacs
for the fiscal 2021-2022
02
Milestones
Key Event
2021
Company has made tie-up for supply fire protection items in bulk qty to one of leading USA Customer.
2017
Initial Public Offer & Listing at NSE Emerge Platform in October 2017
Received Award for Export Excellence from EEPC India, Western Region for Steel Forging
2016
Received Certificate from TUV Nord for Management System in accordance with PED AD 2000 And Received Status of One Star Export House
2013
Received Certificate from TUV Nord for Management System in accordance with ISO 9001:2008
2012
Incorporation of Company
03
Meet Our
Promoters
Mr. Hitesh G. Thumar Chairman & Managing Director
Age 42 Years
Mr. Bhavesh Barasia Whole-time Director
Age 40 Years
Business Promotion & Development
Business Development, possesses
is a dynamic entrepreneur with rich
13 years of experience; leads
industry experience; spearheads
day-to-day responsibilities and
the company’s strategic initiatives
operations.
03
Board of Directors &
Key Management Team
Hitesh Thumar
Bhavesh Barasia
Darshna Thumar
Chairman &
Managing Director
Whole Time Director
Non Executive Director
Sachin Ravani
Jagruti Erda
Atul Natu
Independent Director
Independent Director
Chief Financial Officer
CS Vivek Moliya
R. D. Chaudhari
Mayur Joshi
Company Secretary &
Compliance Officer
Advisor Marketing
Sr. Marketing Executive
Piyush Moteria
Manager (Tech.)
7
Industrial Overview
06
Market
Overview
Global Forging Industry size of $375 Billion.
65% of the demand come from Auto Components
At least 20% global forged products produced from India
Current exports from India are in range of $3 Billion.
7
Growth
Drivers
Consumption led capital expenditure indicates strong demand in :
Automobiles and Auto Components Fire and Safety Products
Oil and Gas.
Railway and Defense Sector
Mining and Minerals
Industrial Machinery
Demand Outlook strong on both Global &
Domestic Market Global Market
Indian Markets – Emerging manufacturing base for global majors.
8
India Supply
Trends
Indian Forging Industries currently very fragmented
Opportunity for large well managed units to capture market share.
Manpower – Cheaper and abundance Outsourcing opportunity to continue
Superior Management key to sustain profitability
Lower Cost base
Outsourcing opportunity to continue
Manpower - Cheaper and abundance
Superior Management key to sustain profitability
09
Business Overview
10
Our
Products
Includes
End User
Closed Die Forged Products
Auto Components, Bearings, Gears, Crank Shaft
Automobile, Railways, Agriculture, etc.
Hydraulic Extrusion
Spindle, Hollow Jobs, Axle, Stub End, Long weld neck, etc.
Defense & OEM., etc.
Forged Flanges & Fittings
Carbon Steel & Stainless Steel Flange and Fittings.
Oil and Gas Pipelines, Water Pipelines, General Industries etc.
11
Manufacturing
Capacity
Forging Hammer with Induction
Ring Rolling
Hydraulic Extrusion Press
Machine
Paint Shop S h o p
Packing & Logistics
12
Certificate
Forge Limited
13
Key Clients
Mahindra Gears &
Transmission Pvt. Ltd.
14
Financial Highlights
15
Balance
Sheet
Particulars
Share Capital Reserves & Surplus Net worth Share Application Money pending Allotment Long term borrowing Deferred Tax (Net) Long-term provisions Short Term Borrowings Trade Payables Other Current Liabilities Short Term Provisions Total Total Fixed Assets Long Term Loans and Advances Deferred tax asset (Net) Total Current Assets Total
FY 22
1960.00 720.98 2680.98 0
420.69 -- -- 611.08 1023.89 202.58 306.90 5246.12 1446.49 128.61 2.04 3668.98 5246.12
FY 21
1120.00 956.24 2076.24 0
300.08 13.95 -- 398.32 424.98 82.13 73.72 3369.42 1392.61 156.66 -- 1820.15 3369.42
Rs. in Lacs
FY 20
1032.00 754.15 1786.15 65
226.81 12.68 -- 107.02 235.52 83.64 20.87 2537.69 1299.98 35.92 -- 1201.78 2537.69
FY 20
1032.00 754.15 1786.15
65
226.81 12.68
--
107.02 235.52 83.64 20.87 2537.69 1299.98 35.92
--
1201.78 2537.69
16
FY 19
581.20
890.42
1471.62
0
242.40
10.29
4.64
178.60
156.61
75.84
93.05
2233.05
1004.80
11.41
--
1216.84
2233.05
Profit &
Loss A/c
Particulars
Total Revenue Total Revenue Total Expenses
EBITDA Depreciation
Finance Cost
PBT
Tax
PAT
Basic EPS
Diluted EPS
Particulars
EBIDTA Margin
PAT Margin
ROCE
RONW Debt - Equity Ratio
Asset Turnover Ratio
NAV
FY 22
8930.32
8095.11
1165.72
242.91
87.60
835.21
228.89
622.31
0.64
0.64
Accounting Ratio
FY 22
13.17%
7.05%
21.42%
31.67%
0.37%
168.19%
13.68
FY 21
3097.27
3042.87
287.63
196.28
37.30
54.40
13.70
39.38
0.36
--
FY 21
9.35%
1.28%
2.99%
2.37%
0.37%
91.32%
18.54
Rs. in Lacs
FY 20
2796.95
2758.58
264.88
181.75
50.35
38.37
8.55
27.50
0.27
0.27
FY 20
9.59%
1.00%
3.46%
2.18%
0.21%
108.63%
17.97
17
Financial
Ratio
700.00
600.00
500.00
400.00
300.00
200.00
100.00
0.00
25.00
20.00
15.00
10.00
5.00
0.00
PAT
622.31
27.50
2020
3.46
2020
39.38
2021
ROCE
2.99
2021
2022
21.42
2022
1400 1200 1000 800 600 400 200 0
35
30
25
20
15
10
5
0
EBIDTA
1165.72
264.88
287.63
2020
2021
2022
RONW
31.67
2022
2.18
2020
2.37
2021
18
Investment
Highlight
Objective : Align Investments with vision to generate returns
Investor’s Wish List
Tirupati Forge
High Growth with Profitability
FY - 22 revenue of INR 8930.32 Lacs with PAT Margin of INR 622.31 Lacs
Solid Management Team
Promoters having wide experience in forging industry.
Capture the value chain
Fully integrated Forging Plant from Raw Material to Finish Products IATF, ISO 9001:2015 and PED AD Certification.
Brand
Established (’Tirupati’) in US Market.
19
Financial
Ratio
PAT increased 1580.26 % from Rs. 39.38 lacs to Rs. 622.31 Lacs in FY-22
EBIDTA margin Increased from 9.35% in FY21 To 13.17% in FY22
EBIDTA grow improve 404.79% from Rs. 287.98 lacs to Rs.1165.72 Lacs in FY 22
Revenue of the company increased 288.33 % from Rs. 3097.27 Lacs to Rs. 8930.32 Lacs in FY-22
PBT growth 1535.31% improved from Rs. 54.40 Lacs to Rs. 835.21 Lacs in FY-22
21
Key Strengths
Fully Integrated Forging Capacity
Forging - Capacity -> 18000 TPA.
Hydraulic Extrusion - Capacity -> 6000 TPA
Ring Rolling Capacity -> 7200 TPA
Machining - Capacity -> 7200 TPA.
Young Visionary & Dynamic Management Aggressive Expansion Plan Good Client Base Good Order Book Work Execution Capabilities Wide Range of Products
Location - HADAMTALA, RAJKOT
5 % Duty Exemption from used power through Induction
Heating.
5% Interest Subsidy on Term Loan.
Power, Water and Manpower are easily available.
Power Cost
Current Power Cost is App.Rs.8.00 per unit.
Tirupati will plan to implement Wind Mill Project or Solar Project -
> 2 MW,which will bring down the cost upto app.Rs.4.50 per unit.
Technology
Combination of Hammer Technology and Ring Rolling Technology
(with no other forging has), resulting huge saving in wastage.
23
Business
Model
Fully Integrated Forging Company
The integrated plant - from forging to machining under one roof.
Combination of Hammer and Ring Rolling Technology,
resulting saving in wastage
Wind Mills or Solar Plant to produce power @Rs. 4.50 per unit.
Modification to add capacity.
Sourcing
Processing Selling
Steel from domestic as well as imported Power currently from GEB @8.00 per unit
Forging Capacity 18000 TPA Hydraulic Extrusion 6000 TPA Ring Rolling Capacity 7200 TPA Machining Capacity 7200 TPA
Flanges : Distributor off takes all the produce and gets paid in Dollars. Carbon Steel Flanges price is led by Tirupati. Forging Components : Supply to OEM Manufacturers. Local & Overseas Market
Diversification
OEM
Defense Sector
Railway Sector
Cold Forging Bearing Race
Gears
Auto Parts
24
Recent
Expansions
Forge Limited
w w w . t i r u p a t i f o r g e . c o m
Over the year, Tirupati Forge continues to
invest in state-of-the-part facilities harboring
World-class capacities and capabilities. Our
facility includes fully Automatic Forging and
Machining Lines. The largest of its kind and
among the best in the industries.
The Company has already installed 630 Ton
of Lasco Press Line covers a large spectrum
for hot metal forging of Solid and Hollow
parts. This type of press is only available with
few forging companies in India.
25
BENEFITS OF HYDRAULIC EXTRUSION PRESS LINE
Fully Automatic line which reduces manpower cost.
Zero wastage during process.
Minor power requires.
No major competitor in this field.
Huge demand in OEM and Defense.
High profit margin.
6000 Ton TPA production capacity will increase.
Suitable to produce various products for defense.
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Corporate
Information
Forge Limited
Registered Office & Factory
Plot No. 1-5, Survey No. 92/1, Near Shan Cement, N.H. 27, Hadamtala Industrial Area, Village: Hadamtala, Tal: Kotda Sangani Rajkot 360311, Gujarat.
+91 98250 93907 Overseas : export@tirupatiforge.com Domestic : info@tirupatiforge.com www.tirupatiforge.com CIN : L27320GJ2012PLC071594
DISCLAIMER CERTAIN STATEMENTS IN THIS DOCUMENT MAY BE FORWARD LOOKING STATEMENTS. SUCH FORWARD LOOKING STATEMENT ARE SUBJECT TO CERTAIN RISKS AND UNCERTAINTIES LIKE GOVERNMENT ACTIONS, LOCAL POLITICAL OR ECONOMIC DEVELOPMENTS, TECHNOLOGICAL RISKS, AND MANY OTHER FACTORS THAT COULD CAUSE OUR ACTUAL RESULTS TO DIFFER MATERIALLY FORM THOSE CONTEMPLATED BY THE RELEVANT FORWARD-LOOKING STATEMENT. TIRUPATI FORGE LIMITED WILL NOT BE IN ANY WAY RESPONSIBLE FOR ANY ACTION TAKEN BASED ON SUCH STATEMENT AND UNDERTAKES NO OBLIGATION TO PUBLICITY UNDER THOSE FORWARD-LOOKING STATEMENT TO REFLECT SUBSEQUENT EVENTS OR CIRCUMSTANCES.
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