Titagarh Wagons Limited has informed the Exchange regarding Investor Presentation

14th February, 2020

BSE Limited Phiroze Jeejeebhoy Towers Dalai Street, Mumbai-400001 Scrip Code: 532966

The National Stock Exchange of India Limited Exchange Plaza Bandra-Kurla Complex Bandra (E), Mumbai-400051 Scrip Code: TWL(EQ)

Dear Sirs,

Sub: Earnings Presentation 9M FY 2020

Please find attached the "Earnings Presentation 9M FY 2020" which is self- explanatory.

Please take the above on record.

Thanking you,

Yours faithfully,

For Ti agarh Wagons Limited

Dine (cid:9)

a

WA' Company Secretary

Encl.: As above.

TITAGARH WAGONS LIMITED CIN: L27320WB1997PLC084819 Registered & Corporate Office: Titagarh Towers, 756 Anandapur, E. M. Bypass, Kolkata 700 107, India Phone : +91 33 4019 0800 I Fax: + 91 33 4019 0823 I Email : corp@titagarh.in I Web: www.titagarh.in

MOBILITY FOR MILLIONS. GLOBALLY.

Titagarh Wagons Ltd (BSE:532966 ; NSE:TWL)

Earnings Presentation 9M FY2020

9M FY2020 Financial Highlights

Delivered strong financial performance from core standalone business

Total Income

EBITDA

PAT

78%

967

544

150%

8.2%

79

5.8%

32

194%

4.0%

39

2.4%

13

9M FY19

9M FY20

9M FY19

9M FY20

9M FY19

9M FY20

Total Income

42%

1,383

976

Margin

EBITDA

106%

6.5%

Margin

Profit/ Loss from Continuing Operations

25

4.5%

44

90

(22)

9M FY19

9M FY20

9M FY19

9M FY20

9M FY19

9M FY20

Margin

2

) r C

. s R ( e n o l a d n a t S

) r C

. s R ( d e t a d i l o s n o C

Business Update and Recent Developments

•

In process of the designing and the prototype for Pune Metro Project and Catania (Sicily) railway system project

• Helping to upgrade existing India facility to produce the aluminum metro coaches

• Continuing to pursue consolidation and cost optimisation

Italy Business

Scheme of Amalgamation of Cimmco with TWL

• Draft Scheme of Amalgamation of Cimmco with TWL approved by their respective Board was filed with BSE and NSE and upon

receipt of observation letters therefrom has been filed with the Hon’ble NCLT, Kolkata Bench

• Delivered fourth ship- a coastal research vessel for National Institute of Ocean Technology which is scheduled to be

commissioned soon. The delivery is well before due date

Delivery of coastal research vessel

3

Order Book: Consolidated

Total order book as on Dec-2019: Rs. 5,085 Cr

New Orders

1,019

5,085

1,019

4,066

4,978

Order Book as Mar 31, 2019

New Orders

Order Book as on Dec 31, 2019

5%

19%

IR Wagons

2%

Order Book as on Dec 31, 2019

74%

Private Wagons

Passengers

Others

Includes order of 3,687 Wagons

• • Additional order received from Pune Metro for the design, manufacture and supply of 34 trainsets. As per the tender documents, the first 3 car prototype metro trainset are required to be supplied in 78 weeks and the balance 33 trainsets in several phases over 160 weeks. Value of the contract is Rs 1,140 Cr

50%

Order Book as on Dec 31, 2019

Domestic

50%

International

4

Financial Performance: Consolidated

Rs. Crores

Q3

FY2020

FY2019

Total Income

460.9

378.8

EBITDA

Margin (%)

Profit/ Loss from Continuing Operations

Profit/ Loss from Discontinuing Operations

Net Profit attributable to Shareholders

Margin (%)

Basic EPS (Rs.)

40.6

8.8%

8.0

0.0

7.8

1.7%

0.68

26.5

7.0%

(6.3)

(15.8)

(23.4)

n/a

YoY Growth

21.7%

53.4%

nm

nm

nm

(2.03)

nm

Q2

FY2020

424.8

38.4

9.0%

7.7

0.0

7.9

1.9%

0.68

QoQ Growth

8.5%

5.8%

Nine Months

FY2020

FY2019

YoY Growth

1,382.7

976.0

41.7%

118.6

8.6%

52.2

5.3%

127.3%

3.2%

25.3

(22.2)

n/a

(51.2)

(36.3)

(0.8)%

(25.3)

(56.1)

n/a

n/a

nm

nm

nm

0.0%

(2.19)

(4.85)

nm

5

Segment Performance: Consolidated

Rs. Crores

FY2020

FY2019

Q3

YoY Growth

Q2

FY2020

QoQ Growth

Nine Months

FY2020

FY2019

Revenue

Results

Margin (%)

Revenue

Results

Margin (%)

Revenue

Results

Margin (%)

446.5

41.1

12.4%

3.4

0.2

0.1%

4.3

0.4

0.1%

Wagons & Coaches

47.1%

279.3%

406.4

32.6

10.7%

9.9%

26.3%

Specialised Equipment & Bridges

(84.7)%

15.6%

(91.7)%

(97.0)%

7.4

1.2

0.4%

Shipbuilding

2.3

0.3

0.1%

(54.6)%

(79.1)%

86.6%

47.7%

303.6

10.8

4.9%

22.0

0.2

0.1%

51.2

13.7

6.2%

1,313.3

111.1

11.5%

18.7

4.9

0.5%

22.0

2.9

0.3%

801.6

10.8

2.0%

61.8

5.9

1.1%

103.7

24.5

4.5%

YoY Growth

63.8%

925.6%

(69.7)%

(16.5)%

(78.8)%

(88.2)%

6

Financial Performance: Entity-Wise

Company (Rs. Cr)

YoY Growth

YoY Growth

YoY Growth

Total Income

EBIDTA*

PBT (before exceptional item)

9M FY20 9M FY19

9M FY20 9M FY19

9M FY20 9M FY19

Titagarh Wagons Limited (TWL)

966.8

544.2

77.6%

91.0

44.0

106.8%

52.6

18.0

191.5%

Cimmco Limited

262.1

170.5

53.7%

16.5

3.6

355.0%

(5.5)

(13.9)

nm

Titagarh Firema SPA, Italy (TFA)

239.0

353.6

(32.4)%

14.1

3.8

272.8%

(8.6)

(17.3)

nm

Eliminations and Others

(85.1)

(92.4)

nm

(3.0)

0.8

nm

(0.7)

3.4

nm

Total (Continuing Operations)

1,382.7

976.0

41.7%

118.6

52.2

nm

37.9

(9.7)

nm

* Including other income

7

Financial Performance: Standalone

Rs. Crores

Q3

FY2020

FY2019

YoY Growth

Q2

FY2020

QoQ Growth

Nine Months

FY2020

FY2019

YoY Growth

Total Income

331.3

220.0

50.6%

303.4

9.2%

966.8

544.2

77.6%

EBITDA

30.5

18.4

66.0%

28.9

5.4%

91.0

44.0

106.8%

Margin (%)

9.2%

8.3%

9.5%

9.4%

8.1%

Profit After Tax (PAT)

13.1

5.9

121.8%

12.3

6.0%

39.1

13.3

194.4%

Margin (%)

3.9%

2.7%

4.1%

4.0%

2.4%

Basic EPS (Rs.)

1.13

0.51

121.6%

1.07

5.6%

3.39

1.15

194.8%

8

Financial Performance Trend: Standalone

Timely execution of orders and delivering consistent quarterly performance

Revenue (Rs. Cr)

51%

EBITDA (Rs. Cr)

8.3%

8.2%

9.5%

9.5%

9.2%

388

332

303

331

220

32

32

29

30

18

Q3 FY19

Q4 FY19

Q1 FY20

Q2 FY20

Q3 FY20

EBITDA

Margin (%)

Profit/ Loss from Continuing Operations (Rs. Cr)

31

6

14

12

13

Q3 FY19

Q4 FY19

Q1 FY20

Q2 FY20

Q3 FY20

Q3 FY19

Q4 FY19

Q1 FY20

Q2 FY20

Q3 FY20

9

Strategy

1

2

3

4

5

Reduction of Debt

As informed earlier, the debt reduction has been the key focus for the Company and it has been able to reduce the debt during the current quarter and continues to do so in Q4 and FY 21

Expand into Global Markets

Leveraging Italy business experience and advanced technology, the Company plans to expand its footprint into global markets specially into metro and train electricals

Consolidation of Subsidiaries

Consolidation of subsidiaries to simplify organization structure and improve overall operational efficiency

Diversified Product Portfolio

Diversified revenue profile with increasing focus on additional products such as passenger rolling stocks, bridges and shipbuilding

Strong Order Book

Strong, replenishing and advance backed orders with better margin level

10

Business Opportunities

1

2

3

Private Railway Network

Indian government’s recently announced plan to include private players in 100 routes across the country expected to increase the demand for wagons

Dedicated Freight Corridor Network

Make in India initiative coupled with launch of Dedicated Freight Corridor (DFC), metro projects across all major Indian cities are expected boost wagon and electrical train manufacturing industry in the Country

Increasing Metro Network

TWL plans to bid for upcoming metro projects in Tier II cities based on its recent award of Pune Metro order

11

Disclaimer

This presentation contains statements that are “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Titagarh Wagons’ future business developments and economic performance. While these forward looking statements indicate our assessment and future expectations concerning the development of our business, a number of risks, uncertainties and other unknown factors could cause actual developments and results to differ materially from our expectations.

These factors include, but are not limited to, general market, macro-economic, governmental and regulatory trends, movements in currency exchange and interest rates, competitive pressures, technological developments, changes in the financial conditions of third parties dealing with us, legislative developments, and other key factors that could affect our business and financial performance.

Titagarh Wagons undertakes no obligation to publicly revise any forward looking statements to reflect future/ likely events or circumstances.

For further information, please contact:

Anil Kumar Agarwal Director (Finance) & Chief Financial Officer Titagarh Wagons Ltd.

T: +91 33 4019 0800 E: anil.agarwal@titagarh.in

Ravi Gothwal/ Ajay Tambhale Churchgate Partners

T: +91 22 6169 5988 E: Titagarh@churchgatepartners.com

12

Titagarh Wagons Limited Kolkata Registered & Corporate Office Titagarh Towers, 756, Anandapur, E.M. Bypass Kolkata – 700107, West Bengal, India T: +91 33 4019 0800 F: +91 33 4019 0823 E: corp@titagarh.in

Delhi Office A-50 Type A, Hortron Complex Electronic City, Sector -18 Gurugram - 122015, Haryana, India

CIN: L27320WB1997PLC084819