TARILNSE6 February 2023

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

Transformers And Rectifiers (India) Limited

Date: 6th February, 2023 Ref: TRIL/SECT/2022-23/NSE-BSE/COMPL/54

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

To, 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, 2022 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 2022-23 – Investor Presentation 06th February, 2023

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

Our USP Today

•

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; collaboration/Joint Venture relationship for 765 kV Transformers & Reactors.

combined with technical

Technical collaboration with Fuji, Japan for 400/765 kV reactors and 400 kV generator transformer.

• A diversified customer base in India, coupled with International presence in over 25

countries.

• Vision to become a leading global player in Transformer Industry.

•

Fully integrated manufacturing set up - creating economies and improving efficiency.

Key Milestones

1981

1994

1997

Mr. Jitendra Mamtora, Started Transformer Manufacturing upto 33kV class

1984

Started Transformer Manufacturing upto 33kV class

Incorporated as Triveni Electric Co. Ltd.

1995

Rechristened to Transformers & Rectifiers (India) Ltd.

Expanded upto 110 kV Class transformers at the new plant at Changodar, Ahmedabad

Manufactured transformers 2000 • Manufactured transformers 100 MVA, 245 kV class upto 100 MVA, 245 kV class

TRIL Listed in both 2007 National Stock Exchange (NSE) & • Manufactured transformers upto 100 MVA, 245 kV class Bombay Stock Exchange (BSE)

2008

Crossed Turnover of INR 300 Crore

Best Supplier Award from GETCO 2009 • Manufactured transformers upto 100 MVA, 245 kV class

Development of 400kV Transformer

2010 • Manufactured transformers upto 100 MVA, 245 kV class

Commenced Production at Moraiya Plant

Crossed Turnover of Rs. 500 Cr.

Key Milestones

2011 • Manufactured transformers upto 100 MVA, 245 kV class

Entered into strategic alliance with Ukraine Company for 765 kV 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

Development of 890kV Shunt Reactor

2012 • Manufactured transformers upto 100 MVA, 245 kV class

Successfully manufactured and tested 765kv class Transformer

2014 100 MVA, 245 kV class

Crossed Turnover of Rs. 700 Cr.

Development of 75MVA, 115kV Green Transformer filled with Ester fluid

2015 • Manufactured transformers upto 100 MVA, 245 kV class

Entered into Technology License agreement with Fuji Electric Co. Ltd.

Received Order worth INR 400 Crore for Third Party Export

2015

Successful short circuit testing of 315 MVA, 400/220/33 kV 3 Phase auto transformers by KEMA Netherlands

2015

Developed and manufactured 70 MVA EAF Transformers for Iran

2016

New JV with Jiangsu Jingke Smart Electric Co. Ltd, PRC for manufacturing of Switchgears

Key Milestones

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

2017

Developed and Manufactured 132 MVA EAF Transformer for Mexico

2018

Export of highest rating Power Transformer of 250 MVA, 130KV to Russia.

2018

Successfully type tested OIP Bushing up to 145 KV

2018

Successfully executed 80 numbers of GREEN Transformers using natural ester fluid

2019

1. Developed and Manufactured 170 MVA EAF transformer for Gulf Countries

2. Received order for World’s first 50MVAr Reactor with Synthetic Ester Oil, From PGCIL

2022

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.

Product Mix

Power Transformers

Shunt Reactors

Distribution Transformers

Furnace Transformers

Rectifier Transformers

Classification of transformers

Range

Types

Power Transformer

Upto 1200 kV class

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

Shunt Reactor

Upto 765 kV class

Reactors upto 765 kV class

Distribution Transformers

160 kVA and above

Furnace Transformers

220MVA/101KA

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

Arc Furnace, Induction Furnace, Submerged Arc Furnace transformers

Laddle Arc Furnace and

Rectifier Transformers

90 KA DC

For DC power sources for Melt and Chemical Industries

STATE OF THE ART 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

Competitive Strengths

In-house technical & design capabilities

 Design & engineering capabilities developed indigenously enabling the company to achieve greater  Design & engineering capabilities developed indigenously enabling the company to achieve greater

customization and cater to niche segments. customization and cater to niche segments.

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

 Unique distinction of being approved by utilities for power transformers up to 765 kV class without any  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. external technological support. This becomes an entry barrier for new units.

Cost Advantage

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

 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 certain  Manufacturing entire range of transformers including power generation, T&D, industrial and certain

special transformers. 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.

 Exported transformers to countries such as USA, England, Canada, GCC., South Africa, Saudi Arabia,  Exported transformers to countries such as USA, England, Canada, GCC., South Africa, Saudi Arabia,

Australia, West Africa & Indonesia. Australia, West Africa & Indonesia.

Well positioned to move up the value chain

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

 Robust business model with revenues split almost equally between utilities & industries.  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  Supported with strong technical collaboration with Fuji for 400/765 KV reactors and 400 Kv generator

transformer. transformer.

 KEMA, Netherlands BV, the world renowned short circuit testing laboratory, Successfully tested our 315  KEMA, Netherlands BV, the world renowned short circuit testing laboratory, Successfully tested our 315

MVA, 400/220/33 kV, 3 phase auto transformer. MVA, 400/220/33 kV, 3 phase auto transformer.

Growth Strategy

Further developing niche business segments of private players which offer better margins

Increasing market share in Furnace & Rectifier Transformers

Increasing its presence in International Markets

Optimal utilization of Manufacturing facilities

Maintaining a judicious mix of Generation, T & D and Industrial Transformers

Backward integration of products with higher markup

FINANCIALS – STANDALONE

Particulars (Rs. in Lakhs)

Revenue from Operations Other Income Total Income Expenditure Cost of Raw Materials Cost of Trading Goods Employee Cost Finance Cost Depreciation Other Expenditure Total Expenses Profit Before Tax Less : Tax Add: Other Comprehensive Income PAT after Comprehensive Income EBITDA EBITDA Margin PAT Margin

F Y

FY 2022-23 FY 2022-23 FY 2021-22 FY 2022-23 FY 2021-22 2021-22

31,953 450 32,403

23,349 1,090 1,039 1,206 884 3,736 31,304 1,099 (86) 4 1,189 3,189 9.84% 3.7%

31,925 245 32,170

24,012 941 815 1,321 366 3,140 30,595 1,575 521 3 1,057 3,262 10.14% 3.3%

32,975 299 33,274

27,134 - 741 942 431 3,378 32,626 648 227 3 424 2,021 6.07% 1.3%

93,439 899 94,338

70,494 3,821 2,601 3,502 1,612 8,732 90,762 3,576 749 11 2,838 8,690 9.21% 3.0%

80,097 730 80,827

112,898 1,246 114,144

65,261 - 2,241 2,916 1,228 7,666 79,312 1,515 547 10 978 5,659 7.00% 1.2%

92,038 - 2,987 4,227 1,531 11,265 112,048 2,096 793 (3) 1,300 7,854 6.88% 1.1%

ISO 45001 : 2018

FINANCIALS – ASSETS & LIABILITIES STANDALONE

P articulars (Rs. in Lakhs)

Share Holders Fund Long Term Borrowing Other Non Current Liabilities Short Term Borrowing Current Liabilities Current Tax Liabilities' (net) Total Equity and Liabilities

Property, Plant & Equipment Other Non Current Assets Cash and Bank Balances Other Current Assets Total Assets

As at 31st December 2022 37,362 6,604 1,438 22,618 38,631 521 107,174

13,672 4,300 2,180 87,022 107,174

As at 31st M arch 2022

34,723 5,442 1,790 26,081 38,931 401 107,368

14,563 4,362 4,464 83,978 107,368

ISO 45001 : 2018

FINANCIALS – CONSOLIDATED

Particulars (Rs. in Lakhs)

F Y

FY 2022-23 FY 2022-23 FY 2021-22 FY 2022-23 FY 2021-22 2021-22

32,829 409 33,238

23,282 1,090 1,112 1,234 934 4,201 31,853 1,385 (27) 4 1,416 3,553 10.69% 4.3%

32,034 180 32,214

23,089 941 885 1,343 416 3,700 30,374 1,840 620 3 1,223 3,599 11.17% 3.8%

33,701 279 33,980

26,907 - 804 983 470 3,977 33,141 839 282 3 560 2,291 6.74% 1.6%

94,710 752 95,462

69,115 3,821 2,802 3,597 1,759 10,137 91,231 4,231 956 11 3,286 9,587 10.04% 3.4%

82,112 696 82,808

116,174 985 117,159

64,604 - 2,429 3,023 1,351 9,296 80,703 2,105 714 10 1,401 6,479 7.82% 1.7%

92,397 - 3,244 4,359 1,699 13,130 114,829 2,330 902 (3) 1,425 8,388 7.16% 1.2%

ISO 45001 : 2018

FINANCIALS – ASSETS & LIABILITIES CONSOLIDATED

P articulars (Rs. in Lakhs)

Share Holders Fund Long Term Borrowing Other Non Current Liabilities Short Term Borrowing Current Liabilities Current Tax Liabilities' (net) Total Equity and Liabilities

Property, Plant & Equipment Other Non Current Assets Cash and Bank Balances Other Current Assets Total Assets

As at 31st December 2022 39,653 6,771 1,530 23,259 40,250 622 112,085

As at 31st M arch 2022

36,327 5,553 1,870 26,775 39,912 495 110,931

15,835 3,690 2,552 90,008 112,085

16,376 3,659 4,638 86,259 110,931

ISO 45001 : 2018

OPERATIONAL PERFORMANCE CONSOLIDATED

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) Others Total

FY 2022-23

FY 2021-22

FY 2022-23

FY 2021-22

2296 2357

2011 5952

4525 10448

6315 13423

FY 2022-23 %

In Crore

FY 2021-22 % In Crore

FY 2022-23 % In Crore

FY 2021-22 % In Crore

FY 2021-22

6959 19692

FY 2021-22 In Crore %

142

43%

156

46% 475

50% 461

56% 634 55%

154

47%

21% 399

42% 180

22% 288 25%

104

31% 60

161

20% 206 18%

33 3% 8 328 100% 337 100% 947 100% 821 100% 1,162 100%

ISO 45001 : 2018

FUTURE BUSINESS PROSPECTS

Orders on Hand - Rs. 1504 Crs. as on 31st January, 2023.

Major Event during in Q3 2022-23.

 Company have received order inflow of Rs. 415 Cr during the Quarter, out of which Rs. 123 Cr belongs to a Central Utility and Rs. 143 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. 2053 Cr. during the quarter.

 Company expects to close Order-book as on March-23 at a higher

level.

ISO 45001 : 2018

OUTLOOK 2022-23

There are challenges with uncertainty due to tense situation in Russia – Ukraine Border, China – Taiwan Border, frequent changes in repo rate by RBI, depreciating rupee and increase in petroleum 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 healthy growth in revenue during the year 2022-23.

REVENUE

Rs. 1250-1300 Crs.

EBITDA

Rs. 100-110 Crs.

PAT

Rs. 45-50 Crs.

ISO 45001 : 2018

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

THANK YOU

www.transformerindia.com

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