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

Date: 08th January, 2025 Ref: TARIL/SECT/2024-25/NSE-BSE/COMPL/084

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

Dear Sir/Madam,

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

Sub: Investor Presentation- Q3-2024-25

In terms of Regulation 30 and 46 read with Clause 15 of Para A of Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we send herewith Investor Presentation of the Unaudited Standalone and Consolidated Financial Results of the Company for the quarter and nine months ended 31st December, 2024.

Further, in terms of Regulation 46 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the aforesaid Investor Presentation is also uploaded on the website of the Company (www.transformerindia.com).

Please take the same on your record.

Thanking you,

Yours faithfully, For Transformers and Rectifiers (India) Limited

Rakesh Kiri Company Secretary

Encl.: As above

TARIL is one of the leading manufacturers of a wide range of transformers globally. Today TARIL 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). TARIL 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.

Transformers & Rectifiers (India) Limited

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Investor Presentation Q3 FY25 8th January, 2025

Corporate Snapshot

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Brief Overview

Company Overview

 Headquartered in Ahmedabad, TARIL is a prominent player in the

manufacturing of transformers & reactors in India Its diverse product range includes :



o Single phase power transformers up to 500MVA & 1200kV Class, o Furnace Transformers, o Rectifier & Distribution Transformers, o Specialty Transformers catering to applications such as Locomotive

Traction,

o Series & Shunt Reactors, o Mobile Sub Stations, o Earthing Transformers, o Solar Application Transformers, & o Green Hydrogen Application Transformers

 TARIL operates on a B2B model, catering to power generation,

transmission, distribution, & industrial sectors

 The company has an installed capacity across units of ~40,000MVA  Global footprint in 25+ countries

Status as on 31st December

Financial Highlights

Particulars (₹ mn)

FY22

FY23

FY24

Revenue

11,580

13,960

12,910

EBIDTA

740

1,210

1,340

EBITDA margin (%)

6.39%

8.67%

10.38%

PAT

140

420

470

PAT margin (%)

1.21%

3.01%

3.64%

Order Book

Order Inflow Q3

Inquires under Negotiation

₹3,686 Crores

₹631 Crores

₹19,000+ Crores

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Charting the Course for Continued Success

 Mr. Jitendra Mamtora, began his journey from repairing to manufacturing 33 kV class transformer





Listed on NSE & BSE raising ₹ 139 Cr at price of ₹ 465/share. Commissioned greenfield project at Moraiya in 2010



Successfully commissioned 1150 kV transformer  Developed &

manufactured Electric Arc Furnace transformer upto 132 MVA

 Raised ₹120 Cr by way of preferential issue on private placement basis in October 2023

 Only Indian transformer company having NABL accredited lab for electrical steel testing

1994-2000

2011-2015

2018-2022

2024

1980-1993

2007-2010

2016-2017

2023



Incorporated TARIL & began manufacturing up to 110 kV class transformers at Changodar plant

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



Strategic alliance with ZTR Ukraine for 765 kV Transformer Technology License agreement with Fuji Electric Co. Ltd. for 400 & 765 kV class reactor & generator transformers

 Manufactured Green

Transformers & reactors (up to 400 kV) Executed maiden order for 400 kV Generator Transformers Successfully type tested OIP bushings upto 145 kV







Exported EAF transformer with rating of 220/253 MVA; One of the highest rating transformer ever manufactured. Successfully Raised ₹ 500 crores through QIP  Acquisition of Posco



Poggenamp Electrical Steel Ltd. a CRGO processing unit

Financial Overview Q3

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Quarterly Financial Highlights - Standalone

Particulars (in Lakhs) Revenue from Operations Other Income Total Income Cost of materials consumed Employee benefits expense Other expenses Total Operating Expenses EBITDA EBITDA Margin (%) Finance costs Depreciation Profit Before Tax and Exceptional Item Tax Expense Other comprehensive income Profit After Tax PAT Margin (%)

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Q3 FY25 54,531 905 55,436 39,792 1,159 5,789 46,740 8,696 15.69% 1,331 591 6,774 1,723 4 5,055 9.12%

Q3 FY24 36,530 250 36,780 28,196 957 3,950 33,103 3,677 10.00% 1,298 581 1,798 458 4 1,344 4%

YoY

Q2 FY25

49%

51%

136%

277%

276%

44,593 1,178 45,771 31,656 1,035 5,515 38,206 7,565 16.53% 1,027 582 5,956 1,745 7 4,218 9%

QoQ 22%

21%

15%

14%

20%

(Figures in Lakhs)

9M FY25

9M FY24

1,30,283 2,484 1,32,767 93,904 3,167 15,182 1,12,253 20,514 15.45% 3,505 1,801 15,208 4,109 15 11,114 8.37%

77,303 639 77,942 59,604 2,715 9,262 71,581 6,361 8.16% 3,864 1,719 778 232 11 557 0.71%

YoY

69%

70%

222%

1855%

1895%

Quarterly Financial Highlights - Consolidated

Particulars (in Lakhs) Revenue from Operations Other Income Total Income Cost of materials consumed Employee benefits expense Other expenses Total Operating Expenses EBITDA EBITDA Margin (%) Finance costs Depreciation Profit Before Tax and Exceptional Item Tax Expense Other comprehensive income Profit After Tax PAT Margin (%)

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Q3 FY25 55,936 896 56,832 39,814 1,333 6,309 47,456 9,376 16.50% 1,354 649 7,373 1,825 4 5,552 9.77%

Q3 FY24

YoY

51%

53%

134%

258%

252%

36,935 167 37,102 27,497 1,037 4,557 33,091 4,011 10.81% 1,322 631 2,058 486 4 1,576 4.25%

Q2 FY25 46,154 1,177 47,331 32,163 1,205 5,866 39,234 8,097 17.11% 1,048 641 6,408 1,817 11 4,602 9.72%

QoQ 21%

20%

16%

15%

21%

9M FY25

1,34,290 2,476 1,36,766 94,428 3,652 16,591 1,14,671 22,095 16.16% 3,568 1,968 16,559 4,337 19 12,241 8.95%

(Figures in Lakhs)

9M FY24 78,198 403 78,601 57,586 2,933 11,430 71,949 6,652 8.46% 3,947 1,870 835 296 11 550 0.70%

YoY

72%

74%

232%

1883%

2126%

Quarterly Financial Highlights (Standalone)

Q3 FY25 Highlights (₹ Lakhs except for EPS)

Revenue from operations

EBITDA & EBITDA %

49%

₹ 36,530

Q3 FY24

₹ 54,531

Q3 FY25

PAT & PAT Margins

₹ 5,055

10%

₹ 3,677

Q3 FY24

135%

EPS

15.69%

₹ 8,696

Q3 FY25

7.50

₹ 1,344

4.00%

Q3 FY24

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9.12%

Q3 FY25

0.40

9M FY24

9M FY25

Order Book Positioning at the end of Q3FY25

Product-wise Unexecuted Order Book

Customer-wise Order Break-up

₹3686 Crores

7%

27%

66%

43%

47%

10%

Power Transformer

Reactor

Special Duty Transformers

Central Utilities

State Utilities

Industrial Customers

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Key Operational Highlights

Operational Highlights

10 10

₹3,686 crore Unexecuted Order Book

₹631 crore New Order Inflow

Successfully conducted a Short Circuit Test of 500MVA Transformer

₹19,000+ crore Inquiries under Negotiation

Quarterly Financial Highlights

Key Financial Highlights

₹545 crore Revenue from Operations

₹87 crore EBITDA

15.69% EBITDA Margin

9.12% PAT Margin

49% YoY

135% YoY

569 Bps

520 Bps

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Chairman’s Comments on Q3

“

To emerge as a preferred solution provider for quality transformers

“

Mr. Jitendra Mamtora

C h a i r m a n

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• Acquired controlling stake in a CRGO processing unit, making 100%

backward integrated. Also, entered into supply agreement for mother coil. CRGO contributes around 30-35% of the total raw material in a transformer.

• Order booking for new capacity expansion from Q4 FY25.

• PGCIL approval process initiated for new fully automated radiator

facility.

• Technology agreement for three critical components, a step ahead in backward integration journey. Expected to be operational by December 2025

•

Journey towards US$ 1 Billion Revenue in next 3 Financial Years.

“

Managing Director’s Comments on Q3

• Revenue from operations ₹545 Cr, YoY increase of 49% • Received operational excellence award from Power Grid

• EBITDA ₹87 Cr, YoY increase of 136% • Successfully exported 220/253 MVA EAF Transformer, one of the

largest ratings ever manufactured globally.

• PAT of ₹50 Cr, YoY increase of 276%

• Maiden order of 193 MVA single phase STATCOM transformers • Successfully completed 500MVA short circuit test

• New Orders during the quarter - ₹698 Crores • New Orders during the quarter - ₹631 Crores

• Export orders during the quarter - ₹161 Crores • Highest MVA tested in a single month “Dec2024 – 3954 MVA”

• PGCIL approval for reactors at our Changodar testing facility • Highest number of units tested in a single month i.e. Dec2024

• Revenue from operations ₹312Cr, YoY increase of 103% • Revenue target for current Financial Year remains intact

• EBITDA ₹42.42Cr, YoY increase of 260%

• PAT of ₹24.67Cr, YoY increase of 210%

“

To consolidate our national and international presence as a leading transformer manufacturer and maintain a sustainable growth rate over the long-term

“

Mr. Satyen Mamtora

M a n a g i n g D i r e c t o r

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DRIVERS THAT TRANSCENDED TARIL’S GROWTH STORY OVER THE YEARS

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Growth Drivers

Niche Transformers

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Product Portfolio

Power Transformers

 Designed for high voltage transmission & distribution

networks, ensuring efficient power flow and reliability.

Furnace Transformers

 Used to feed electric furnace that is

used to melt and refine materials. These are associated with very high secondary (output) currents and wide output voltage regulations in order to cope with furnace need.

Special Transformers

 The company also specializes in custom-

designed transformers for specific industrial applications, such as converter duty transformer, earthing transformer and testing transformers.

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Distribution Transformers

 These transformers are tailored for

low voltage applications and are vital for local distribution networks, smooth electricity supply to end-users.

ensuring

Rectifier (duty) Transformers

 TARIL manufactures rectifier (duty) used in various industries for converting alternating current (AC) to direct current (DC), essential for numerous applications like electroplating, metal refining, and power supply units

Reactors

 Shunt Reactors enhance energy efficiency in high- voltage transmission systems. TARIL's Shunt Reactors, available with variable ratings and filled with either mineral oil or ester, feature robust designs backed by rigorous quality control. Series Reactors are mainly used in with the purpose of arc stability for furnace transformers, limiting current, reduction of flicker in network etc.

Transformers application in varied Industries

Distribution

Petrochemical

Pharmaceutical

Power Transmission

Metal Processing

Cement

Green Energy

Railways

Paper and Pulp

Mining

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Driving Growth Through Strong Relationships

Domestic Customer Base

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Safe Harbor

This presentation has been prepared by Transformers and Rectifiers (India) Limited solely to provide information about the Company to its stakeholders.

No representation or warranty, express or implied is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of such information or opinions contained herein. None of the Company nor any of its respective affiliates, advisers or representatives, shall have any liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection with this presentation.

The information contained in this presentation is only current as of its date. The Company 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. 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 the Company’s general business plans and strategy, its future financial condition and growth prospects, and future developments in its industry and its competitive and regulatory environment. Actual results may differ materially from these forward-looking statements due to number of factors, including future changes or developments in the Company’s business, its competitive environment, information technology and political, economic, legal and social conditions in India.

Please note that this presentation is based on the publicly available information including but not limited to Company’s website and Annual Reports.

This communication is for general information purposes only, without regard to specific objectives, financial situations and needs of any particular person. Please note that investments in securities are subject to risks including loss of principal amount.

This presentation does not constitute an offer or invitation to purchase or subscribe for any shares in the company and neither any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.

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Thank You

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