SHARDAMOTRNSE5 February 2025

Sharda Motor Industries Limited has informed the Exchange about Investor Presentation

Sharda Motor Industries Limited

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SMIL: LISTING/24-25/0502/01

February 05, 2025

BSE Limited

National Stock Exchange of India Limited

Department of Corporate Services

Exchange Plaza, 5th Floor

Pheroze Jeejeebhoy Towers

Plot No. C/1, G Block

Dalal Street, Mumbai - 400 001

Bandra - Kurla Complex, Mumbai - 400 051

(SCRIP CODE - 535602)

(Symbol - SHARDAMOTR) (Series - EQ)

Sub: Announcement under regulation 30 of SEBI (Listing Obligations and Disclosure

Requirement) Regulations, 2015

Ref: Submission of Investors Presentation on the Operational & financial performance for quarter ended December, 31, 2024

Dear Sir / Madam,

Please find enclosed Investor Presentation with regard to the announcement of the unaudited Financial

Results (Standalone and Consolidated) of the Company for the quarter ended December, 31, 2024.

The said presentation is available on the website of the Company i.e. www.shardamotor.com

This is for your information and records please.

Thanking You, Your’s Faithfully

Iti Goyal

Asst. Company Secretary and Compliance Officer

Encl. as above

Investor Presentation

February 2025

www.shardamotor.com

Safe Harbour

This presentation and the accompanying slides (the “Presentation”), have been prepared by Sharda Motor Industries Limited (the “Company”), solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company.

This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.

Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections.

Company Overview

Sharda Motor at a glance

India’s largest manufacturer of emission control systems

Best-in-class manufacturing facilities

Sharda Motor Domestic Presence

Manufacturing locations

~30% market share for passenger vehicles in India

~1 Million Units annual installed capacity

25+ years of experience in manufacturing emission control systems

Joint Venture with Purem

Manufacturing facilities across locations in three states of India at the heart of India’s auto clusters

‘State-of-the-Art’ R&D center located at Mahindra World City, Chennai, TN

Dedicated Design & Development center at Namyang, South Korea

Catering to a customer base across segments

Strong Financials enabled by operational excellence

Emission control systems, suspension systems, Specialized Roof systems

Consolidated Revenue from Operations (INR crs)

2,809

2,700

2,087

2,255

1,737

PVs

Farm Equipment

CVs

Gensets

Catered to both marquee domestic as well as international customers

FY21

FY22

FY23

FY24

9MFY25

13% FY24 EBITDA Margin

14% 9MFY25 EBITDA Margin

11% FY24 PAT Margin

11% 9MFY25 PAT Margin

39% FY24 ROCE

Note : EBITDA % = (Profit before exceptional items and tax + Depreciation & Amortization + Finance Costs – Other Income)/Revenue from Operations; ROCE = EBIT/(Total Debt+Total Equity)

Sharda Motor | The journey so far

1986 Inception of Sharda Motor Industries

1987 IPO & Listing at Delhi Stock Exchange

1994 Launch of 1ˢᵗ large scale production unit & entry into Trim business

1998 Foray into Exhaust Systems business with the Chennai unit

2019

2018

Joint Venture with Purem Germany

Entered into technical collaboration with Bestop Inc. USA for Roof system

2010

Established R&D for Emission Control Systems

2002

Ventured into Suspension assembly business & established R&D unit for exhaust system

2020

Approval for Scheme of arrangements with NDR Auto Component Limited

2021

Joint Venture with Kinetic Green, India

2023

Set up Plant - II at Chakan

2025 Setting up Plant - III at Chakan

Sharda Motor | Well-positioned to take advantage of strong tailwinds

Multiple Industry Growth Catalysts

Market leadership enabled through best-in-class technology

Modern Infrastructure Geared for growth

Diverse product portfolio

Attractive Financial Metrics

● Emission norms continue to tighten across vehicle segments – new norms such as TREM V to present a huge opportunity for Sharda Motor

● RDE Norms have enabled Sharda Motor to increase content per vehicle between 10-15%

● Market share of ~30% for

● Best-in-class

● Consistently evolving

● Demonstrated strong

emissions control systems in India for passenger vehicles

manufacturing facilities located at the heart of India’s auto clusters

product portfolio to keep up with changing emission norms

revenue growth CAGR of >30% between FY20-FY24

● Steady state EBITDA

● One of the few players with technology for advanced emission systems in line with global standards has enabled empanelment with marquee customers

● Dedicated R&D facility in Chennai and a Design & Development Facility at Namyang, South Korea

● Future ready

manufacturing capabilities

● Growing lightweighting

margins >10%

business to aid in diversification efforts

● High return ratios and capital efficiency ratios

Emission norms in India have been tightening steadily since the 1990’s…

Since the introduction of emission norms for 4 wheelers in 1991, target aggregate pollutants have been declining steadily…

) V C r o f

r h W K g

, s r a c r o f

m k

g ( s t n a t u

l l

o P d e t a u g e R

21.6

16.3

35.5

7.9

3.83

1.78

1.25

0.83

0.67

11.68

3.69

2.7

2.65

1.18

1.16

13.96

12.25

7.86

5.48

2.07

Cars/Light-duty diesel

~95.7% reduction till BS4 ~96.5% reduction till BS6

Cars - Gasoline

~92.8% reduction till BS4 ~92.9% reduction till BS6

Commercial Vehicle

~85% reduction till BS4 ~94.2% reduction till BS6

1991

1996

1999/2000

2001

2005

2010

2018

Source : SIAM

…with Sharda Motor at the forefront of major changes in emission norms over the years…

Despite changing emission norms, Sharda Motor has been consistently adding scale, capabilities and customers over the years

Sharda Motor Consolidated Revenue from Operations (FY ending in INR crores)

Transition

BS3 Emission Norms introduced

BS 1 & BS2 Emission norms introduced

Foray into emission control systems

BS4 Emission Norms introduced

591

First IP filed for emission systems

3 Patents received

2,809

J V with Purem

BS6 Emission Norms introduced

2,255

8 9 9 1

0 0 0 2

1 0 0 2

2 0 0 2

3 0 0 2

4 0 0 2

5 0 0 2

6 0 0 2

7 0 0 2

8 0 0 2

9 0 0 2

0 1 0 2

1 1 0 2

2 1 0 2

3 1 0 2

4 1 0 2

5 1 0 2

6 1 0 2

7 1 0 2

8 1 0 2

9 1 0 2

0 2 0 2

1 2 0 2

2 2 0 2

3 2 0 2

4 2 0 2

Sharda Motor has transformed from an assembly house to the only domestic technology provider for emission control systems

Market leadership

Sharda Motor is well poised to capitalize on on-road as well as off-road emerging norms…

On-road and off-road legislations have opened up a plethora of opportunities for Sharda Motor leading to increase in content per vehicle

On-Road

Off-Road

➢ BS-6.2 RDE (Real Driving

Emissions) Norms (April 2023)

Norms require passenger vehicles to achieve emission targets even in real world conditions, as opposed to just a laboratory environment

➢ CEV IV (Oct 2021)

➢ TREM IV (Jan 2023)

➢ BS 6.2/OBD-II (On-board diagnostics) (April 2023)

On-board diagnostic systems for commercial vehicles emission control have the capability of identifying the likely area of malfunction by means of fault codes stored in computer memory

➢ CEV V (Jan 2025)

➢ TREM V (Apr 2026)

CEV V and TREM V emission standards planned for non road diesel engines, construction equipment and agricultural tractors to present a large opportunity for Sharda Motor

● Increased content per vehicle by ~10-15% because of RDE emission norms

● Plan to capitalize on CEV V and TREM V norms for farm equipment and off- road vehicle segments

…with ability to service requirements of OEMs across all vehicle segments…

Experience having served OEMS in all vehicle segments

Passenger Vehicle

Stationary Engines

Off-Road Vehicles

MHCVs

Tractors

Capabilities across the value chain

Design

CFD Analysis

Structural Analysis

Design for manufacturability

Proto Build

Testing

SOP

….enabled by strategically located best-in-class manufacturing facilities…

State-of-the art manufacturing facilities located at the heart of India’s automotive clusters

Corporate Office

Manufacturing facility

R&D Facility

Sanand

● Exhaust System

Nashik

2 facilities ● Exhaust Systems

● Roof Systems

● Suspension Assembly

Chakan

3 facilities (incl. new facility) ● Exhaust Systems

● Suspension Assembly

Delhi

● Corporate Office

Chennai

2 facilities ● Exhaust System

● Tube Mills

R&D Facility

‘State-of-the-Art’ manufacturing facilities across locations in four states of India

…with state-of-the-art, future-ready capabilities

Sharda Motor has invested in its units

Fully-backward integrated manufacturing facilities ready for incremental growth without capex

Gross Tangible Assets (INR crores)

Tube Mill Manufacturing - ( Backward Integration )

458

419

355

361

322

FY20

FY21

FY22

FY23

FY24

● Wide product range of ERW tubes in the industry conforming to national / global standards & customer specific requirements.

● Centralized manufacturing unit at SMIL-MWC for the ERW Tubes for serving national market with two facilities with diverse diametrical manufacturing capabilities.

Stamping Facilities

● Stamping facilities spread across Chennai, Nashik and Sanand

● 53 stamping machines located across India

Welding Capabilities

● DC Welding, DC Pulse Welding, CMT Welding and Micro MIG welding

capabilities

● Improved quality to meet transition requirements to BSVI standards

Testing & Prototyping Facilities

● End-to-end testing capabilities, fully equipped with hot vibration lab, flow lab, semi anechoic chamber, thermal lab, engine testing lab and prototyping shop

State-of-the art research and development set up…

State-of-the-art R&D facility at Chennai

Design & Development Center at Namyang

Established R&D unit for exhaust system in 2002 and emission system 2010 at Mahindra World City, Chennai

A state-of-the-art facility to Design, Simulate, Testing and Prototype of exhaust system for PVs & CVs as well as non-automotive applications

R&D Centre has the full capabilities to cater to various emission norms ranging from BS6, BS6.2, TREM5, STAGE5, TIER4 & TIER5

Established for exhaust systems in Hwaseong-si, Gyeonggi-do in 2011 and working with HMC/ HMI Research Institute and Sharda Motor’s INDIA R&D for exhaust systems.

4 trained and experienced engineers with over 20 years of design, CFD and testing experience

100+ Trained and skilled engineers for Design, CFD, FEA & Acoustics

Siemens SCADAS Mobile (Acoustic test machine)

DAQ (RLDA test machine)

IATF 16949-2016 Certification

CATIA (design tool)

PRO-E (design program)

…has helped Sharda Motor’s product portfolio evolve significantly over time

● Fully developed capabilities for

cold-end system in 2016

● Fully

developed systems from 2019

hot-end

● Successful

development

of BS6 programs through TA as well as own capabilities

● Innovation/Technology

– Exhaust & Adjacent Products

● TREM V products already developed by Sharda Motor

2023 to Future

● Successful transition from

BS6 & BS6.2

● Advance development and IP creation (6 IPs) - EATS ● Developed RDE Capabilities ● Reduced development

iterations

● Sharda Motor beginning to leveraging

develop products by in-house technology

● Established state-of-the-art R&D

facility

2016- 2019

2012 - 2015

2020 - 2023

SMIL becomes a preferred partner to all Indian OEM

Sharda Motor manufactured Build to Print Products

Until 2010

R&D focused approach has yielded tremendous results for Sharda Motor

Capital steadily invested over the years to build competencies in R&D

Documented Standard, Testing & Analysis Procedures and PLM system

Strong culture of engineering and continuous business focused innovation across the value chain

Sharda Motor has filed 10 IPs in last 2 years and 3 patents granted

IP - 01 Exhaust Micro-perforated Patch Patent Granted

IP - 02 Exhaust Variable Valve (Mechanical) Patent Granted

IP - 03 Splinted Tail Trim (Y- Tail) Patent Granted

Today, Sharda Motor has a diverse portfolio of product offerings…

Soft-top canopies

Independent Front Suspension Assembly

Emission Control Systems

Upper & Lower Control Arm

Front Axle Assembly

…helping Sharda Motor garner deep-rooted relationships with marquee OEMs

Catering to customers across vehicle segments

Sharda Motor is well recognized by its customers for its quality and reliability

FY24 Consolidated Revenue from Operations split by end-user vehicle segment (%)

2023

Silver Award Winner –

Renovative Category

2021

Special appreciation BS6 by

Silver award in Business

Mahindra & Mahindra

Alignment Category by Ashok

Leyland

53%

42%

2015

2014

2013

Mahindra Supplier Excellence

Mahindra & Mahindra Annual

Cummins India ABO Supplier

Award for Business Partner

Commodity Award

of the Year

Conference Award for Best

Continuous Improvement

Others

Even split in revenues between passenger vehicles and commercial vehicles insulates business from cyclicity specific to vehicle segments

2005

2004

Hyundai Merit Award for

BEST CO-OPERATION

Hyundai Merit Award for

BEST CO-OPERATION

Hyundai Appreciation

Certificate

Note : Others includes revenues from off-highway, agricultural segments, Gensets, MHCV, Supply Chain Management & Scrap Sales

…with strategies in place to further grow the business

Capitalizing on TREM V regulations to increase revenues from Agri & Off- highway segments

Increasing revenues from commercial vehicle segment, specifically focusing on the 3–4-liter segment

Capitalizing on theme of ‘China+1’ and grow revenues from overseas customers as OEMs seek to diversify their supply chains

Capitalize on the megatrend of lightweighting and expand lightweighting vertical starting from control arms and suspension assemblies

Leverage debt free status and surplus cash to focus on inorganic growth opportunities focused on powertrain agnostic products

Key Growth

Strategies

Focused strategy to increase revenues from CVs & Farm Equipment segments

Segments least affected by electrification…

…with robust growth estimates going forward

Estimated EV Penetration by 2028 %

Domestic CV Sales (‘000 units)

1-8%

1,028

966

1,150

Sharda is expected to leverage its newly developed capabilities in CV Emissions to capitalize on growth in CV Segment

a c r e m m o C

s e c h e V

Estimated EV Penetration by 2028 %

Domestic Tractor Sales (‘000 units)

FY23

FY27P

FY28P

0 - 1%

945

1,130

1,070

Trem V emission norms are expected to drive demand for emission control systems for Farm Equipment Category

t n e m p u q E

m r a F

FY23

FY27P

FY28P

Source : Publicly Available Estimates

Capitalize on emerging theme of ‘China+1’ to grow revenues from overseas customers

Over the last few years, on the back of supply chain issues led by the COVID-19 pandemic and trade war shocks, trade relations between US, EU and China have been disrupted. As OEMs seek to diversify supply chains – Indian manufacturers could step in as an alternative across categories and establish a competitive advantage

Analysis of non-nearshore auto component imports into USA and Europe – enormous potential for Indian players to pry market share from China

Key Categories

USA & Europe Import Size (USD bn)1

China Share (%)

India Share (%)

Engine - Fuel & emission systems

Cabin & Load Body

Engine/Engine Components

Gear Box Parts

Bearings

Suspensions

Axles

Steering Parts

Shafts

42.6

25.0

23.8

20.5

8.6

5.3

3.2

3.0

31%

16%

34%

16%

24%

23%

11%

12%

Potential ~USD 48bn total export market size with an addressable export market size of ~USD 2.2bn for Sharda Motor for its current product range

Strategic R&D investments leading to world class technology and product experience in emission control systems which act as a key entry barrier for most of the domestic suppliers

Acceptability from marquee global customers an endorsement of quality

Note : 1 - Non-nearshore imports excludes imports from North America (Mexico/Canada) for US and imports from western, eastern Europe & Scandinavia for Europe

Source : ACMA-McKinsey & Company Joint Report : The future of mobility : Transforming to be ahead of the opportunity

As lightweighting emerges as one of the key megatrends for auto OEMs globally…

Powertrain Efficiency ● Boosting and valve technology

● Transmission & driveline

OEMS key focus on lightweighting

Initiatives by OEMs

Lightweighting

● Lighter & stronger materials

● Innovative joining process

● Cutting Edge build techniques

Parasitics

● Aerodynamics

● Rolling resistance

Source : Publicly Available Sources

Benefit for ICE Vehicles

For ICE, reducing the vehicle weight improves the fuel

economy with typically cited rates of 10% less

weight and 6–8% less fuel, or 100 kg of a weight

reduction reduces the fuel use by 0.3 to 0.5 L/100

km, corresponding to a reduction of 8 to 11 g of

CO2/km.

Benefit for Electric vehicles

Since EVs are typically 125% heavier than ICE

equivalents, there is a need to reduce weight in

order to increase the driving range from a single

battery charge. For electric vehicles, a 10% weight

reduction typically equals a 13.7% increase in range

…Sharda will capitalize on the growing opportunity and build its lightweighting vertical

Sharda Motor’s suspension business has been growing steadily and achieved a market share of ~10%* Suspension business poised for new highs

Revenue from Suspension Systems (INR Crores)

45% CAGR

216

198

134

With the commissioning of Unit III at SMIL’s Chakan facility with a focus on suspension systems, the Company is poised to diversify its business further

~10% Market

Chakan, Pune

Share of for control arms in

passenger vehicle segment

FY21

FY22

FY23

FY24

Note : *10% market share for control arms in passenger vehicle segment

With control arms business won for marquee OEMs, SMIL’s revenue from lightweighting vertical is poised to increase significantly going forward

Operations overseen by well-experienced board…

Mr. Kishan Parikh Chairman, Non- Executive Non- Independent Director

Mr. Ajay Relan Managing Director

Mr. Nitin Vishnoi Executive Director and Company Secretary

● 33+ years of experience in the field of

Business Management ● Holds Bachelor’s Degree in

commerce and has been associated with Jamshedpur Beverages, Pebco Motors Limited and implemented ISO 9001-2000 in favour of Pebco Motors Limited

● Dynamic entrepreneur contributing vast experience in manufacturing automobile components, setting up new projects and their successful implementation

● Completed his B.Com (Hons.) & took three years of training from Harvard Business School, U.S.A.

● 32+ years of experience and

expertise in Corporate Restructuring, Compliance Management and Corporate Governance

● Fellow member of the Institute of

Company Secretaries of India and also holds a Bachelor’s degree in Commerce with Honours

Dr. Sarita Dhuper Independent Non- Executive Director

Mr. Udayan Banerjee Independent Non- Executive Director

● 38+ years of experience in the field of Medicine and specialisation in the fields of Pediatrics & obstetrics/ Gynecology and Cardiology ● Holds Bachelor of Medicine & Bachelor of Surgery (MBBS) & Doctorate in Medicine from Maulana Azad Medical School, Delhi University

● Led several teams for successful

setting up of Manufacturing Units of Automobile Components

● 50+ years of experience with various reputed organizations including Bata Shoes Limited, Stepwel Industries Limited

● Holds Master’s Degree in Earth

Science from IIT Kharagpur and also holds a diploma in work-study from Work Factor Co. of USA

Mr. Navin Paul Independent Non- Executive Director

● Has over 23 years of work experience in Bosch and has held varied and key responsibilities in the Automotive and Industrial Divisions of Bosch.

● Eminent

Expert

Automotive Components in the Expert Advisory Group (EAG) to Minister & Ministry of Road Transport & Highways (Govt of India).

…complimented by experienced senior management

Mr. Ajay Relan Managing Director

Mr. Aashim Relan Chief Executive Officer

Mr. Deepak Manchanda CEO Global Business

Mr. Puru Aggarwal President and Group CFO

Mr. Nitin Vishnoi Executive Director and Company Secretary

● Dynamic entrepreneur

contributing vast experience in manufacturing automobile components, setting up new projects and their successful implementation

● Completed his B.Com

(Hons.) & took three years of training from Harvard Business School, U.S.A.

● Responsible for managing

the Supply Chain, Operations, Strategy & Innovations

● Recognized as one the

youngest business leaders in the country

● Graduated in Finance & Economics from Emory University, Atlanta & has various other business certifications

● 28+ years of rich experience in a spectrum of Automotive, Aerospace, and Defence industries

● PG Diploma in Business Management with a specialization in Marketing & Systems from IMT Ghaziabad, and certification in Masters in Mechanical Engineering from CIIMS Nagpur

● 31+ years of experience and has worked with various leading multinational companies and listed Indian entities including Teva Pharmaceuticals, Coca-Cola India, EY, Vaibhav Global Ltd and Sandhar Technologies Limited

● Qualified CA, CS & Cost

Accountant

● 32+ years of experience

and expertise in Corporate Restructuring, Compliance Management and Corporate Governance ● Fellow member of the Institute of Company Secretaries of India and also holds a Bachelor’s degree in Commerce with Honours

Mr. Viekas K Khokha Sr. Vice President & Chief Human Resource Officer

Mr. Dnyanesh Dandekar Senior Vice President- Research & Development

Mr. Ashish Kulkami Chief Procurement Officer & PMO

Mr. K K Sharma Chief Manufacturing Officer

● Brings experience from

Management Consulting & P&L/Business Leadership roles across prominent MNCs & leading Indian organizations

● PGDBM from LBSIM, Delhi, Global Fellow in Talent Management from Wharton School, US & BE in Mechanical Engineering from Nagpur University

● 25+ years of experience in

development of new products, new technologies as new features in existing products

● Completed his B.E.

Mechanical & M.E. Thermal Engineering from Govt. College of Engineering, Karad & Executive MBA from SPJIMR, Mumbai

● 28 + years of experience in Global Purchasing and Commodity Management, with demonstrated extensive industry knowledge.

● B.E. in Production Engineering from Mumbai University with General Management Program in Business Administration and Management at Welingkar Institute of Management.

● Seasoned specialist in cost- saving strategies and plant operations

● Expertise spans across Customer Relationship Management, Project Management, Industrial Relations, Cost Saving Strategies and Plant Operations

● Hold’s a Bachelor’s Degree in

Commerce from Delhi University

Mr. Paramjeet Singh Senior Vice President- Sales & Business Development

● Diverse skillset includes

Quality Control, Customer Service and Business Development

● He is a Graduate of

Commerce from CCS University, Meerut, and holds an MBA from ICFAI University, Tripura

Financial Summary

Consolidated Key Financial Highlights Q3 FY25

Revenue from Operations (INR Crores)

EBITDA (INR Crores)

PAT (INR Crores)

711

689

690

105

Q3FY24

Q2FY25

Q3FY25

Q3FY24

Q2FY25

Q3FY25

Q3FY24

Q2FY25

Q3FY25

Consolidated Key Financial Highlights 9M FY25

Revenue from Operations (INR Crores)

EBITDA (INR Crores)

PAT (INR Crores)

2,106

2,087

296

231

262

211

9MFY24

9MFY25

9MFY24

9MFY25

9MFY24

9MFY25

Consolidated Profit & Loss Statement

Particulars (Rs. Crores)

Revenue from Operations

Cost of Goods Sold

Gross Profit

Gross Profit Margin

Employee Cost

Other Expenses

EBITDA

EBITDA Margin

Other Income

Depreciation

EBIT

EBIT Margin

Finance Cost

Share in Profit/(loss) in JV and Associates

Profit before Tax

Tax

Profit After Tax

Profit After Tax Margin

Other Comprehensive Income

Total Comprehensive Income

EPS

Q3FY25

Q3FY24

690.0

509.0

181.0

26.2%

37.9

48.5

94.5

689.1

516.9

172.2

25.0%

36.5

41.3

94.3

13.7%

20.9

14.8

100.6

14.6%

0.6

0.8

100.8

25.3

75.4

10.9%

-0.1

75.4

25.6

21.7

13.6

102.5

14.9%

0.9

102.5

26.5

76.0

11.0%

0.3

76.2

25.6

YoY

-2%

-1%

Q2FY25

711.3

523.1

188.2

26.5%

35.2

47.6

105.4

14.8%

15.4

14.0

106.8

15.0%

0.5

-0.2

106.1

27.4

78.7

11.1%

-0.1

78.7

27.4

QoQ

-3%

-4%

-10%

-6%

-5%

-4%

9MFY25

9MFY24

2,086.7

1,537.6

2,105.9

1,623.0

549.1

26.3%

108.8

144.7

295.6

14.2%

55.9

41.6

309.8

14.8%

1.6

1.1

309.3

78.4

231.0

11.1%

-0.2

230.8

78.9

482.8

22.9%

100.6

120.2

262.0

12.4%

58.9

38.6

282.4

13.4%

2.0

2.1

282.5

71.2

211.3

10.0%

0.7

212.0

71.1

YoY

-1%

14%

13%

10%

Consolidated Balance Sheet

Equity & Liabilities (Rs. Crores)

Sep-24

Mar-24

Total Equity

Share Capital

Reserves & Surplus

Non-Current Liabilities

Lease

Other Financial Liabilities

Provisions

Other liabilities

Current Liabilities

Financial Liabilities

Lease

Trade Payables

Other Financial Liabilities

Other Current Liabilities

Provisions

Current tax Liabilities (net)

Total Equity & Liabilities

902.7

1,005.9

5.7

897.0

32.8

21.3

0.1

11.4

0.0

5.9

999.9

33.9

22.5

0.1

10.5

0.9

640.4

588.0

1.9

502.6

13.4

79.7

39.4

3.5

1.2

494.9

14.0

67.5

10.0

0.4

Assets (Rs. Crores)

Non - Current Assets

Property Plant & Equipments

Right of Use Asset

Intangible assets

Financial Assets

Investment in JV and Associate

Other Investments

Other financial assets

Non-Current Tax Assets

Other Non-Current Assets

Deferred Tax Assets (net)

Current Assets

Inventories

Financial Assets

Investments

Trade receivables

Cash and cash equivalents

Bank balances other than cash and cash equivalents

Others

Other Current Assets

Sep-24

Mar-24

587.8

186.2

18.8

9.1

29.1

305.0

6.4

5.3

11.6

16.2

988.2

206.2

340.4

244.4

137.0

41.7

9.4

9.0

586.1

189.1

19.9

10.2

28.8

305.0

4.1

5.3

11.8

11.9

1,041.8

196.9

334.1

227.2

258.4

6.3

10.1

8.8

1,576.0

1,627.8

Total Assets

1,576.0

1,627.8

Consolidated Cash Flow Statement

Particulars (Rs. Crores)

Net Profit Before Tax

Adjustments for: Non -Cash Items / Other Investment or Financial Items

Operating profit before working capital changes

Changes in working capital

Cash generated from Operations

Direct taxes paid (net of refund)

Net Cash from Operating Activities

Net Cash from Investing Activities

Net Cash from Financing Activities

Net Decrease in Cash and Cash equivalents

Add: Cash & Cash equivalents at the beginning of the period

Effect of fair Value changes on Cash & Cash Equivalents (investment in Liquid Fund)

Cash & Cash equivalents at the end of the period

H1FY25

H1FY24

208.6

-3.3

205.3

-14.3

190.9

-49.8

141.2

-31.1

-231.6

-121.5

258.4

0.2

137.0

180.0

-9.2

170.7

64.5

235.2

-49.9

185.4

-0.5

-52.8

132.1

157.3

1.5

290.9

Historical Consolidated Key Financial Highlights FY24

Revenue from Operations (INR Crores)

EBITDA (INR Crores)

PAT (INR Crores)

CAGR: 17%

2,809

2,700

CAGR: 41%

361

CAGR: 65%

300

2,255

1,737

282

228

129

208

149

FY21

FY22

FY23

FY24

FY21

FY22

FY23

FY24

FY21

FY22

FY23

FY24

Historical Consolidated Key Financial Highlights FY24

Return on Equity %

Return on Capital Employed

30%

31%

34%

37%

35%

39%

17%

24%

FY21

FY22

FY23

FY24

FY21

FY22

FY23

FY24

Note : Return on Equity = Net Profit After Tax/Total Equity; Return on Capital Employed = EBIT/(Total Debt+Total Equity)

Annexures

Particulars

Standalone Financial Statements

Exhaust Systems product portfolio

Suspension Systems product portfolio

Corporate Social Responsibility

Standalone Profit & Loss Statement

Particulars (Rs. Crores)

Q3FY25

Q3FY24

Revenue from Operations

Cost of Goods Sold

Gross Profit

Gross Profit Margin

Employee Cost

Other Expenses

EBITDA

EBITDA Margin

Other Income

Depreciation

EBIT

EBIT Margin

Finance Cost

Profit before Tax

Tax

Profit After Tax

690.0

509.0

181.0

26.2%

37.9

48.5

94.5

689.1

516.9

172.2

25.0%

36.5

41.3

94.3

13.7%

20.9

14.8

100.6

14.6%

0.6

100.1

25.3

74.7

21.7

13.6

102.5

14.9%

0.9

101.6

26.5

75.1

Profit After Tax Margin

10.8%

10.9%

Other Comprehensive Income

Total Comprehensive Income

EPS

-0.1

74.7

26.0

0.2

75.3

25.3

YoY

-2%

-1%

Q2FY25

711.3

523.1

188.2

26.5%

35.2

47.6

105.4

14.8%

15.4

14.0

106.8

15.0%

0.5

106.3

27.4

78.9

11.1%

-0.1

78.9

27.5

QoQ

-3%

-4%

-10%

-6%

-5%

9MFY25

9MFY24

2,086.7

2,105.9

1,537.6

1,623.0

549.1

26.3%

108.8

144.7

295.6

14.2%

55.9

41.6

309.9

14.8%

1.6

308.3

78.4

230.0

11.0%

-0.2

229.8

79.2

482.8

22.9%

100.6

120.2

262.0

12.4%

58.9

38.6

282.4

13.4%

2.0

280.3

71.2

209.2

9.9%

0.6

209.8

70.4

YoY

-1%

14%

13%

10%

Standalone Balance Sheet

Equity & Liabilities (Rs. Crores)

Sep-24

Mar-24

Assets (Rs. Crores)

Sep-24

Mar-24

Total Equity

Share Capital

Reserves & Surplus

Non-Current Liabilities

Lease

Other Financial Liabilities

Provisions

Other liabilities

Current Liabilities

Financial Liabilities

Lease

Trade Payables

Other Financial Liabilities

Other Current Liabilities

Provisions

Current tax Liabilities (net)

Total Equity & Liabilities

921.7

1,025.1

5.7

5.9

915.9

1,019.2

32.8

21.3

0.1

11.4

0.0

33.9

22.5

0.1

10.5

0.9

640.4

588.0

1.9

502.6

13.4

79.7

39.4

3.5

1.2

494.9

14.0

67.5

10.0

0.4

Non - Current Assets

Property Plant & Equipments

Right of Use Asset

Intangible assets

Financial Assets

Investment in JV and Associate

Other Investments

Other financial assets

Non-Current Tax Assets

Other Non-Current Assets

Deferred Tax Assets (net)

Current Assets

Inventories

Financial Assets

Investments

Trade receivables

Cash and cash equivalents

Bank balances other than cash and cash equivalents

Others

Other Current Assets

606.7

186.2

18.8

9.1

48.0

305.0

6.4

5.3

11.6

16.2

988.2

206.2

340.4

244.4

137.0

41.7

9.4

9.0

605.3

189.1

19.9

10.2

48.0

305.0

4.1

5.3

11.8

11.9

1,041.8

196.9

334.1

227.2

258.4

6.3

10.1

8.8

1,594.9

1,647.1

Total Assets

1,594.9

1,647.1

Standalone Cash Flow Statement

Particulars (Rs. Crores)

Net Profit Before Tax

Adjustments for: Non -Cash Items / Other Investment or Financial Items

Operating profit before working capital changes

Changes in working capital

Cash generated from Operations

Direct taxes paid (net of refund)

Net Cash from Operating Activities

Net Cash from Investing Activities

Net Cash from Financing Activities

Net Decrease in Cash and Cash equivalents

Add: Cash & Cash equivalents at the beginning of the period

Effect of fair Value changes on Cash & Cash Equivalents (investment in Liquid Fund)

Cash & Cash equivalents at the end of the period

H1FY25

H1FY24

208.3

-3.0

205.3

-14.3

190.9

-49.8

141.2

-31.1

-231.6

-121.5

258.4

0.2

137.0

178.8

-8.0

170.7

64.5

235.2

-49.9

185.4

-0.5

-52.8

132.1

157.3

1.5

290.9

Exhaust Systems

Indian Market Share of ~30% for passenger vehicle segment

Catering to most of the OEM’s in PV segment

Serving PV, CV and Off-road segment.

3 stamping plants managing all critical stamping in house

Catering to Domestic & International customers

2 tube mills producing stainless steel and aluminized steel tubes for exhaust systems

Annual Production of ~1 million units

Joint Venture with Purem* (Formally known as Eberspaecher)

Plants strategically located across India and present in all automotive hubs

Most of manufacturing units strategically located close to customer location

From an idea to its manufacturing, Sharda Motor leads the market in this category

Passenger Vehicle BS IV System

Passenger Vehicle Passenger Vehicle Cold End System

BS IV System

Tractor Tier IV System

Commercial Vehicle Muffler

Generator Muffler

Passenger Vehicle Passenger Vehicle

Muffler

Resonator

Note – Maps not to scale. All data, information, and maps are provided “as is” without warranty or any representation of accuracy, timeliness or completeness

Suspension Systems

Indian Market Share of ~10% in control arms for passenger vehicle segment

Annual Production of ~1.8 lakh units

Strategically located manufacturing facilities

Concept, Design and Digitizing

Development, Project planning & Testing & Validation

Expertise in this arena with its world-class manufacturing processes

Arm Lower Control Comp RH 2WD

Front Suspension

Upper Arm Assy

Assy. Lower Link Complete RH

Front Axle Assy 4WD

Rear Suspension

Corporate Social Responsibility

Tree Planting

Stop Plastic Pollution

Blood Donation Drive

Sharda Motor believes in the preservation of the environment. Our team of volunteers contributed their time, effort and sweat in making the environment better by planting trees and sapling of flowers.

Installed plastic bottle shredding machine at Jamshedpur district of Jharkhand.

Organized blood donation camps to help hospitals and blood banks to save precious lives.

Covid

Provided Ambulances under the Sharda CSR Foundation Trust in various cities to assist in their fight against Covid

Company

Investor Relations Advisors

CIN: L74899DL 1986PLC023202

Mr. Puru Aggarwal President and Group CFO

CIN: U74140MH2010PTC204285

Mr. Jigar Kavaiya / Mr. Pratik Shah COO-IR Practice / Business Analysis

011-47334100 puru.aggarwal@shardamotor.com

www.shardamotor.com

+91 9920602034 / +91 9870030585 jigar.kavaiya@sgapl.net / p.s.shah@sgapl.net

www.sgapl.net

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