INTLCONV

• International Corporate Office : 10, Middleton Row Post Box No. 9282, Kolkata -700 071 ® CIN : l21300WB1973PLC028854 [ - I Conveyors Facsimile : +91 -33 -2217 2269 Phone : +91 -33 -4001 0061 limitEd Mail : icltd@iclbelting.com Uri : iclbelting.com ICL/DS/2022-23/646 November 23, 2022 The Manager The General Manager Listing Department Dept. Of Corporate Services National Stock Exchange of BSE Ltd. India Ltd Phiroze Jeejeebhoy Towers Exchange Plaza, Dalal Street, Plot No C-1, G Block, Mumbai-400001 Bandra- Kurla Complex, Scrip Code-509709 Bandra (East), Mumbai-400051 Symbol-INTLCONV Dear Sirs, Subject: Investor Presentation - 02 FY23 In compliance with Regulation 30 and other applicable provisions of the Listing Regulations, please find enclosed herewith Investor Presentation encompassing, inter-alia, an overview of the Un-Audited Financial Results of International Conveyors Limited ("the Company") for the quarter and half-year ended September 30, 2022. Kindly take the same on record and acknowledge receipt. Thanking You, Yours faithfully, For International Conveyors Limited Dipti Sharma Company Secretary & Compliance Officer Encl-As above Registered Office & Works I : Works II: I B S U O R M EA 01 U VERITAS ~ ~ & r \' V Fo lll l a ta g e SE & Z, M Se o c u t z o a r • • A II, k N al e m a e r g P h u mp House No. 3 A E- u 3 r 9 a , n M g . a l. b D a .C d . • A 4 r 3 e 1 a , 0 C 06 h lkalthana Cwl1ho110n ...- r. .l i: Disf. South 24 Parganas, West Bengal -743 504 Maharashtra . --- --·----~ ... ----- ------- ----- -----·---~ INTERNATIONAL CONVEYORS LTD BELTS THAT TROUGH COMPETENT DEPENDABLE SAFE CONVEYER BELTING November 2022 Safe Harbor This presentationhas beenpreparedbyandisthe sole responsibility ofInternationalConveyors Limited(the“Company”).Byaccessingthis presentation,youare agreeing tobeboundbythe trailing restrictions. This presentationdoes notconstitute orformpart ofanyofferorinvitationorinducementtosellor issue,oranysolicitation ofanyofferor recommendationtopurchaseorsubscribefor,any securities oftheCompany,norshallitoranypartofitorthefactof itsdistributionformthebasisof,orbereliedoninconnectionwith,anycontractorcommitmentthereof.Inparticular,this presentationisnotintendedto beaprospectus orofferdocumentunder theapplicable lawsofany jurisdiction, includingIndia.No representation or warranty,express or implied,is madeas to, and no reliance should be placed on,the fairness, accuracy,completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. There is no obligation to update, modify or amend this communication or to otherwise notify the recipient if the information, opinion, projection, forecast orestimatesetforthherein, changesorsubsequentlybecomesinaccurate. Certain statements contained in this presentation that are not statements of historical fact constitute “forward-looking statements.” You can generally identify forward-looking statements by terminology suchas“aim”,“anticipate”,“believe”,“continue”,“could”,“estimate”,“expect”,“intend”,“may”,“objective”,“goal”,“plan”,“potential”,“project”,“pursue”,“shall”,“should”,“will”, “would”, or other words or phrases of similar import. These forward-looking statements involve known and unknown risks, uncertainties, assumptions and other factors that may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or other projections. Important factors that could cause actual results, performance or achievements to differ materially include, among others: (a) our ability to successfully implement our strategy, (b) our growth and expansion plans, (c) changes in regulatory norms applicable to the Company, (d) technological changes, (e) investment income, (f) cash flow projections, and(g)otherrisks. This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. The Company may alter,modify orotherwisechangeinanymannerthecontentofthispresentation,withoutobligationtonotify anyperson ofsuchchangeorchanges. 2 ICL : India’s only Listed player in PVC Conveyor Belting Experience of Marquee International & Four Decades Domestic Customers Fully integrated A critical consumable for High Growth Manufacturing Plants Mining & Bulk Transportation High Entry Barriers : Long Gestation At an inflection point to participate Period, Dual Regulatory Approvals & INTERNATIONAL CONVEYORS LIMITED in Commodity Super-Cycle Depth of Customer Engagement 3 Our Evolution 1979-2001 2002-2014 2014-2019 FOUR DECADES OF ICL was set up to address the key pain Diversification into New Customer BUSINESS GUIDED BY Entered International Markets to point for coal miners - Long waiting Segments, New Products with New explore multiple growthavenues period forconveyorbelting MarketingStructure CORE HUMAN VALUES • Mr R K Dabriwala, Founder & MD of • During 1980s-1990s, Coal India and its • Domestic Demand for PVC Conveyor ICL, while managing family’s subsidiarieswereprimarycustomersof Beltingdidnotpickupasenvisaged erstwhile coal-mining business; ICL–apuredomesticplay. experienced long waiting periods for • Favorable regulation led to growth of conveyor belting as an impediment, • ICL moved to international markets coalmininginUSA with the erstwhile Fenner India, a withitsproductsfindingapprovalswith monopolyinIndia. the mining authorities and customers • SimultaneouslyICL moved to serve the Building the company with in needs of miners of potash, phosphate, • Toaddressthisconsumerpainpoint, • USAandCanadain2002-2003, etc.inNorthAmerica. incredible people, competent ICL, in technical collaboration with • Australiain2007-2008 and processes and innovating Scandura Plc, part of the British • Chinain2012-2013. • 100% subsidiaries were created in Belting & Asbestos (BBA) Group of Australia,USA(NorthAmerica) high-quality products that are UK (FTSE 100), commenced • By FY13, 70% of ICL’s total sales came operationsin1977inAurangabad. from international markets, which was • New products were developed as per long-lasting. 80% of the total PVC belting exports the needs and specifications of the • Technical collaboration ended in from India, making ICL the largest PVC customer&countries 1997 as Scandura Plc was acquired Belting exporter from India. ICL by Fenner International, the parent enjoyed35%ofdomesticmarketshare • Signed long term contracts with companyofFennerIndia(nowapart ofPVCbeltinginIndiaaswell. world’s largest Potash mining of Michelin), which also acquired companies DunloptobecomeFennerDunlop. • During FY13, manufacturing facilities started at Falta SEZ in West Bengal to • Started supplies to Cement/crusher serveinternationalmarkets. andwastemanagementindustries 4 We manufacture belting which is critical for mining… ▪ Conveyor belting is critical for bulk transportation of materials like, coal, potash salt MINING OPERATIONS etc and no substitute has been found. RELIES HEAVILY ON ▪ ICL design team can undertake full in-house design starting from preliminary design BELTING of systems from power and tension calculations all the way through to detailed design ▪ The ICL team have years of experience in solid woven conveyor belting both for Conveyor's belting intended underground and above ground applications for mining must be engineered to minimize downtime and ▪ Our team has been involved in such projects as: operate reliably long-term, despite tough conditions. Moonee colliery (Australia) - Regular recommendations Numerous supply which was used as the for belting designation to arrangements for Indian benchmark for underground Canadian Customers based Coal Mines conveyor systems on their prevailing design 5 …with an extensive product range serving Diversified Industries ▪ We provide several value-added products in our sales mix and count several TAILORED PRODUCTS TO demanding multinationals as clients DIFFERENT CUSTOMERS ▪ Our products are used for conveying : Coal Potash Phosphate Fertilizer Cement Products of International quality, superior technology Clay Gypsum Salt Aggregate and testing capability We manufacture the most Industry Concertation Risk Mitigated extensive range of products comprising Type-3 to Type-12 Belting Type Belting Width End Use that are the most suitable for Mining: Type 12000 Mining: 72 inch Export Market meeting Indian requirements Mining: Type 8000, 10000 Mining: 54 inch 60 inch Export Market and Type-3 to Type-18 that Mining: Type 3500, 4500, 5000, 6000, 6500 Mining: 36, 42, 43, 48 inch Export Market are popular in markets Industrial: PVC 3500, 4500, 6000, 7500 Industrial: 60 & 72 inch abroad. Mining: Type 8000, 12000 Mining: 55 inch Domestic Market Mining: Type 3000, 5000, 6000 Mining: 30 inch to 48 inch Domestic Market 6 We have fully integrated manufacturing … ▪ Twisting and doubling machines, capable ▪ Widest and heaviest belting fabric weaving EXCELLENCE IS NOT JUST of handling up to 20 Tons of yarn at a looms (working on principal of shuttle time. weaving) up to 2100mm reed space and each GOAL, BUT PRIORITY weighing up to 100 tons, including their ▪ One of the widest and heaviest beaming structure, machine and loaded beam machines in the world with a 2400 mm weights. beam width. ▪ Quartz infra-red heat curing ▪ Carcasses making machine capable of handling up to 22 tons of beamed yarn in ▪ Fully equipped Test Laboratory ICL is one of the largest a single load. manufacturer of solid woven ▪ Six storey high Vacuum Impregnation Tower belting in the world and has a ▪ Highly skilled workforce with an average ▪ Electronically controlled Integrated Coating complete product range with on-the-job experience exceeding 20 years plant the ability to make conveyors Entry Barriers up to 3150 kN/m (type 18) width in strength and belt Technical understanding of Manufacturing and R&D widths up to 1800mm conveyor belting products capabilities Regulatory & Customer Safety & Quality Assurance Approvals 7 …at our plants in Aurangabad & Falta Aurangabad Plant : Total annual Falta SEZ Plant : Total annual installed COST COMPETITIVENESS installed capacity of 700,000 meters capacity of 4,25,000 meters Area (Sq. Area Facility Details Facility Details (Sq. Mtrs) Mtrs) Falta SEZ 1 fully-integrated plant, 6,000 Fully-integrated plant, facility with 1 administrative E39 facility Administrative office and 12,000 office and 1 laboratory Laboratory inside the plant We deploy wide-ranging Plant, with Administrative H19 facility 1,527 engineering capabilities to office inside the plant Infrastructure / locational advantage: complete manufacturing of ▪ Kolkata sea-port is at a distance of only ~50 km products on schedule realizing Infrastructure / locational advantage: that our products drive our Cost Advantages : ▪ Excellent road infrastructure between customer's business ahead. Aurangabad and Mumbai ▪ Exemption from excise duty, customs duty and GST on purchase of all raw material and ▪ Convenient rail and air connectivity with services Mumbai and New Delhi. ▪ Governed by SEZ laws and conducive cost ▪ Mumbai sea-port is at a distance of ~350 km structures 8 We are only Indian player delivering global quality standards ICL cares for human life and that is why our high-performance belting are a result of integrated in- SAFETY BY CHOICE, house development - from yarn preparation, fabric weaving, and compound mixing to finishing NOT BY CHANCE • The high standards of quality control at every stage conform to the highest global standards of safety and performance • Each belting is meticulously tested for physical, fire retardant and anti static properties Complete integrated in-house • Superior solid woven Carcass that completely prevents of any ingress of moisture to create perfectly finished Conveyor Belting manufacturing - from yarn preparation, fabric weaving, compound mixing to finishing Safety Testing - to ensure total process and quality control at each step of Drum Friction Test Laboratory Flame Test Fire Propagation Test Electrical Resistance Test manufacturing activity 9 We have approvals meeting international quality benchmarks ▪ Global – Dun and Bradstreet assigned D&B D-U-N-S Number: 65-066-9146 LONG GESTATION PERIOD ▪ Global – ISO 9001:2015 Certification ACTS AS HUGE ENTRY BARRIER Country specific Mine Safety Approval (Fire Retardant Antistatic – FRAS) for product usage: Directorate General of Mines Safety We are an ISO 9001:2015 Conforming to CSA-M422-14 (DGMS) approval conforming to IS Type A-1.1. certified Company meeting 3181:1992 (Second Revision). After international quality DGMS approval, belts are approved by BIS benchmarks. We also enjoy TestSafe Australia conforming to AS 4606:2012 Grade ‘S’. several certifications and Mine Safety and Health Administration endorsements from stringent approval conforming to US-MSHA Part- 14, Title 30 of Code of Federal South African Bureau of global regulatory bodies. Regulations (CFR) Standards conforming to SANS 971:2003. Mine Safety and Health Administration approval conforming to US-MSHA Part- Approval conforming to MT914- 18, Title 30 of Code of Federal 2008 Regulations (CFR). 10 We have marquee International and Domestic Clientele International Customers CUSTOMERS FIRST Over 80% of our Revenues are generated from Exports Our products meet the highest international standards and ICL prides itself in not having Domestic Clients a warranty claim 11 We have depth of engagement leading to ‘Customer Stickiness’ 1 High Entry Barriers CUSTOMER STICKINESS ✓ High entry barrier due to Dual Stage Approval process to be an approved supplier BRAND RESONATES ✓ Product Approval by regulatory authorities of importing countries WELL WITH CUSTOMERS ✓ Approvals specific to importing entities ✓ Long term contracts with approved suppliers to avoid long gestation & tedious process of approvals for vendor selection Enables the company to 2 High Revenue Visibility continually invest in leading edge equipment, processes ✓ Long term contracts ranging between 5-7 years with customers for order visibility & repeat and employee training in order orders to improve the quality of its ✓ Specific tailor-made products manufactured as per Country’s & Customers specifications products. ✓ Contracts have price variability clause to safeguard swings in raw material prices ✓ Few manufacturers of the product globally, enables ICL to grab a large market share of a niche industry 12 We produce more green energy than we consume ▪ We have in total 5 Windmills Rs. 6.53 MILLION OF ▪ All these Windmills are generating green energy in the states of Karnataka, Maharashtra, REVENUES FROM Gujarat and Andhra Pradesh and the same is supplied to respective state consumers through state grids. RENEWABLE ENERGY FOR ▪ At Falta Plant, we have committed to buy 8,00,000 units p.a. of electricity generated from FY22 Solar Power Plant All our Windmills are generating green energy in the states of Windmill Details Capacity (KWH) Karnataka, Maharashtra, Gujarat and Andhra Pradesh. Chitradurga Dist., Karnataka 14,00,000 Energy consumed for operations in Panchpatta Dist., Maharashtra 14,00,000 H1FY23is 30,25,190units . Renewable Energy generated in Kutch Dist., Gujarat 47,00,000 H1FY23is 36,32,804units. Kurnool Dist., Phase - 1, Andhra Pradesh 17,00,000 At ICL we produce more Green energythan we consume. Kurnool Dist., Phase - 2, Andhra Pradesh 17,00,000 13 Favorable Mining Policies & Regulations… • Introductionof appropriate incentives for exploration • Encouragementof merger and acquisition of mining entities • Creation of dedicated mineral corridors to boost private sector mining National Mineral • Encouraging technology for mineral administration and curb illegal Policy 2019 mining • Proposes to grant ‘industry’ status to mining with the objective of boosting financing of private sector • Harmonizetaxes, levies & royalty with world benchmarks Advantageous • Auctions for allocation of mining leases • Longer lease duration Policies & Salient Features of • Stringent provisions for illegal mining MMDR Regulations • Provision of composite license Amendment Act, 2015 • Establishing a dedicated trust ‘NMET’ for collecting funds and use it for exploration purposes • FDI of up to 100 per cent is permitted under the Automatic Route Relaxed • Government allowed 100 per cent FDI in commercial coal mining to FDI Norms introduce private sector participation Investment • Low custom duty on the capital equipment Incentives • Income Tax Benefits for certain explorations Source: KPMG Report -June 2019 15 …supporting growth across Indian Mining Industry Mining Sector Growth Drives India remains an oasis of growth amongst India is at an early stage in terms of per capita mineral consumption and has a significant potential to grow at accelerated growth than historical growth slowing global outlook Strong economic growth–Projected to be fastest growing economy at-least Make in India –Focus on increase in 7.5% 7.7% Manufacturing share to 25% by 2025 till 2024 6.1% 5.5% Growing demand from end-use New application areas such as electric industries such as infrastructure, 2.5% 2.2% vehicles, renewables, defense etc. Automotive, Power 1.8% 1.7% 1.7% 1.6% 1.9% 1.6% 0.5% 0.5% Technology Development in the sector Low per capita metal consumption India China Brazil Europe Russia US Japan increasing efficiencies and productivity creates tremendous potential 2020 2021 2022 2023 2024 Key Sectors COAL CEMENT BEACH SAND MATERIAL Demand estimated to increase to 1.3- Cement industry has huge potential in • High reserve share of beach sand 1.9BT by 2030 (Base case-1.5BT) from the country & estimated to grow at a minerals (35%) presents high potential 1BT in 2019 CAGR of ~12% by 2025 • Exploration covered only ~2,000 km of coastal stretch, out of ~ 6000km Source: KPMG Report -June 2019, Industry Reports 16 … along with growth in Global Potash Demand Global potash demand is expected to grow ~7Mmt in the next three years, with medium term growth rates at historic levels. Significant demand growth potential beyond historic rates Mine Production Countries 2019 2020E Previous 5 year CAGR Estimated 5 year CAGR United States 510 470 ~1.5-2% ~3.5-4.5% Belarus 7,350 7,300 • Canada contributes 100% Estimated increase in Brazil 247 250 growth rate as compared to ~33% of the total historical growth Canada 12,300 14,000 production of Potash Chile 840 900 Industry China 5,000 5,000 1.8-2.3 72 Millions of Tonnes KCI Germany 3,000 3,000 • ICL being the leading Israel 2,040 2,000 supplier with majority 1.3-1.8 Jordan 1,520 1,500 market share in Canada 0.5-1.0 Laos 400 400 for the Potash Industry 1.5-2.0 Russia 7,340 7,600 0.7-1.2 66 Spain 500 470 Other Countries 310 300 2020F Brazil China India Other Other 2023F Total 41,300 43,000 Asia Source: Nutrien, Nov 2020 17 …making us well placed to benefit from rising growth in Mining Activities I NCREDIBLE Economic life cycle of the belting is FRAS PVC Conveyor Belting from Type C OMPETENT ~3 years depending on conditions and 3 to 18 catering to various customer loads being handled requirements L ONG-LASTING CONVEYOR BELTING Significant opportunities to grow in High entry barriers: Separate approval We are ready to deliver the Europe, Russia, South Africa, Canada, per geography per plant most Efficient, Reliable & Safe Australia and USA Conveyor Belting and Material handling systems to significantly enhance the Efficiency and Productivity of Strong R&D capabilities to quickly Modern Mining operations. Reputed Clients in International and adapt to regulatory changes in Domestic Markets various developed countries 18 We are Future Ready… Expand Customer Base Penetrate New Markets LEARN TODAY ▪ Enhance customer base in the USA and ▪ Penetrate further into Australia LEAD TOMORROW Canada, where ICL already enjoys underground coal mine segment significant customer Relationships ▪ Grow South Africa market. ▪ Start Supplies to Europe and Russia Our Aim : Zero Accidents Increase Product Portfolio Modernize Manufacturing Facilities Zero Waste Zero Defects ▪ Strategic limited marketing alliance with ▪ Further Modernize manufacturing Zero Breakdowns Plied Rubber Conveyor Belting facilities in Falta and Aurangabad manufacturers and distributors to provide ▪ Evaluate ramping up of capacities a total basket of conveyor belting – Rubber, PVG and PVC – to select end- users 19 …with Growth Drivers in place Capex in Mining Sector Automation across Facilities PLANNED CAPEX Continuous investments in the mining Our in-house R & D team working on TO ADDRESS THE sectorin linewithgrowingdemandfrom automation and upgradation of the end user industries gives us long run machines & processes for efficiencies & GROWING DEMAND way for growth for our products going enhancedproductportfolio forward High entry barriers & revival of capex cycle gives us visibility of huge replacement Strong Order Book Visibility Huge Replacement Demand demand Addition of new customers and newer Revival of capex cycle envisages a huge products has enhanced our order book replacementdemandacross sectors. Addition of newer products & visibilities acrosssegments.Ourorderbook position is ~6 months at any given point in Average replacement cycle for Coal customers has strengthened time industry is 1-2 years & for Potash our order book giving revenue industryis4-5 years visibility Over the period, the commodity sector has been under capitalized. Growth in capacities envisages higher demand generation for our products across sectors, thus diversifying order book from multiple industries. 20 …guided by experienced Leadership Team Mr. R K Dabriwala | Managing Director Mr. Surbhit Dabriwala | Director • Bachelor of Arts and Science from University of Pennsylvania • JEDP –IIM (Calcutta) & Harvard Alumni • Holds senior level board positions including PNB Metlife India Insurance Co; Elpro • Having more than 5 decades of experience in diversified business and been a joint International Ltd erstwhile an engineering company with now an exposure to real venturepartnertoGE,Fanuc,Emerson Electric amongothermultinationals. estateandretail; PartnerofKaerAir LLP,aJVwithKaerPteSingapore Mr. Jeff Maranville | Director of Sales Mr. Prasad Deshpande | Executive Director International Conveyors America Ltd., Inc. • Textile Engineer by qualification and has 30 years of work experience in • Head of Sales and Marketing in the United States with over 23 years’ experience in manufacture of yarns and fabric for industrial application. managing business through a variety of market channels. • Worked with Large corporates and MNC’s for last 26 years and has handled business operations both in India and overseas.Hewas in charge of SRF’s facility in • Hewasearlier withContinentalgroupintheUSA. Thailand prior tojoining ICL. Mr. Udit Sethia | Director Mr. Ashok Kumar Gulgulia | Chief Financial Officer • MemberofInstituteofCharteredAccountantsofIndia. • FCS & B.com with more than 3 decades of experience in Finance & Accounts. • Associated with the Dabriwala group of companies in a senior executive roles such • Associated with ICL since 2000 and is responsible for company law matters, as Elpro International and I G E (India) Private Limited. finalization of accounts, taxation & corporate finance. 21 Consolidated Quarterly Financial Performance Revenue (Rs. Crs.) EBITDA (Rs. Crs.) PAT (Rs. Crs.) 46% +109% +160% 121.9 13.5 14.2 +457% +903% +28% 83.5 8.4 7.2 66.0 6.4 5.5 51.5 0.7 1.5 Q2FY22 Q2FY23 H1FY22 H1FY23 Q2FY22 Q2FY23 H1FY22 H1FY23 Q2FY22 Q2FY23 H1FY22 H1FY23 EBIDTA Margins (%) PAT Margins (%) 11.7% 10.9% 12.7% 11.1% 6.5% 7.7% 2.9% 1.4% Q2FY22 Q2FY23 H1FY22 H1FY23 Q2FY22 Q2FY23 H1FY22 H1FY23 23 Historical Financial Performance (Consolidated) RReveevnenuuese s( R(Rs.s C. Crsr.s).) EBITDA (Rs. Crs.) PAT (Rs. Crs.) +59% +71% +44% 205.2 16.6 16.2 169.3 19.9 19.6 98.7 6.4 6.7 FY20 FY21 FY22 FY20 FY21 FY22 FY20 FY21 FY22 EEEPPPSS S gg rgroorowwwtthhth EBIDTA Margins (%) PAT Margins (%) 11.8% 9.8% +63% 9.5% 7.9% 2.5 2.4 6.0% 6.8% 0.9 FY20 FY21 FY22 FY20 FY21 FY22 FY20 FY21 FY22 24 Domestic Revenue Break-up Rs. Crs Industry Wise Coal Others 20.6% 25% 31.8% 36.6 Q2FY23 Q2FY22 29.3 68.2% 79.4% +59% 20.1% 29.8% 12.0 FY21 FY22 7.5 70.2% 79.9% Q2FY22 Q2FY23 FY21 FY22 Coal Others Figures on Consolidated basis 25 Exports Revenue Break-up Rs. Crs Industry Wise Potash 1.6% 2.7% Coal 15.3% Others 21% 25.9% 168.6 Q2FY22 Q2FY23 139.9 71.4% 83.1% Geography Wise +23% 54.0 5.9% Canada 43.9 USA 26.9% R.o.W 26.4% Q2FY22 Q2FY23 0.0% 67.7% Q2FY22 Q2FY23 FY21 FY22 73.1% Figures on Consolidated basis 26 Q2FY23 Consolidated Profit & Loss Particulars (Rs. Crs.) Q2FY23 Q2FY22 Y-o-Y Q1FY23 Q-o-Q H1FY23 H1FY22 Y-o-Y Revenue from Operations 66.00 51.48 28% 55.88 18% 121.88 83.54 46% Cost of Materials Consumed 32.37 29.91 35.00 67.37 53.67 Purchase of Traded Goods 2.06 1.92 2.74 4.80 3.29 Changes in Inventories of Finished Goods and Work in Progress 7.70 2.54 -3.27 4.43 -5.63 Employee Benefits Expense 4.62 4.63 4.32 8.94 9.15 Other Expenses 10.84 10.97 12.01 22.85 16.62 EBITDA 8.41 1.51 457% 5.08 66% 13.49 6.44 109% EBITDA % 12.7% 2.9% 9.1% 11.1% 7.7% Other Income 3.05 1.79 3.18 6.23 3.23 Depreciation and Amortisation Expense 0.59 0.54 0.54 1.13 1.03 EBIT 10.87 2.76 7.72 18.59 8.64 Finance Costs 0.76 1.14 0.51 1.27 2.27 PBT 10.11 1.62 524% 7.21 40% 17.32 6.37 172% Total Tax Expense 2.89 0.90 0.23 3.12 0.91 Profit for the year 7.22 0.72 903% 6.98 3% 14.20 5.46 160% PAT % 10.9% 1.4% 12.5% 11.7% 6.5% EPS 1.07 0.11 1.03 2.10 0.81 27 Balance Sheet (Consolidated) EQUITY & LIABILITIES (Rs. Crs.) Sep-22 Mar-22 ASSETS (Rs. Crs.) Sep-22 Mar-22 Equity Share Capital​ 6.8 6.8 Non-Current Assets Other Equity​ 224.5 209.5 Property, Plant and Equipment​ 15.8 16.3 Total Equity 231.2 216.3 Capital Work-in-progress​ 0.0 0.3 Non-Current l Liabilities​ Goodwill on consolidation 1.0 1.0 1. Borrowings​ 0.0 0.0 Other Intangible assets 0.2 0.2 Lease Liabilities 0.1 0.1 Non-Current Financial Assets Provisions​ 0.4 0.4 (i) Investments​ 135.4 119.4 Deferred Tax Liabilities (Net)​ 0.7 3.7 (ii) Loans​ 0.0 0.0 Other Non-Current Liabilities​ 1.2 0.0 (iii) Other Financial Assets​ 8.4 6.2 Total Non-Current Liabilities 2.3 4.2 Non-Current Tax Assets (Net)​ 0.0 1.9 Current Liabilities Other Non-Current Assets​ 0.2 0.1 Financial Liabilities​ Total Non-Current Assets 160.9 145.3 (i) Borrowings​ 56.4 19.3 Current Assets (ii) Lease Liabilities 0.1 0.1 Inventories​ 27.2 31.3 (iii) Trade payables​ Current Financial Assets​ (a) total outstanding dues of micro enterprises and 0.7 1.5 (i) Trade Receivable​ 26.7 25.2 small enterprises (ii) Cash and Cash Equivalents​ 2.0 1.9 (b) total outstanding dues of creditors other than micro 24.0 37.9 (iii) Other Bank Balances 0.3 0.1 enterprises and small enterprises (iv) Loans​ 96.3 91.4 (iv) Other Financial Liabilities​ 0.1 0.2 Provisions​ 4.2 4.0 (v) Other Current Financial Assets​ 2.7 1.1 Other Current Liabilities​ 0.9 21.8 Other Current Assets​ 3.7 8.8 Total Current Liabilities 86.2 84.7 Total Current Assets 158.9 159.8 TOTAL EQUITY & LIABILITIES 319.8 305.1 TOTAL ASSETS 319.8 305.1 28 Cash Flow Statement (Consolidated) Cash Flow Statement (Rs. Crs.) Sep-22 Mar-22 Cash Flow from Operating Activities Profit before Tax 17.3 6.4 Adjustment for Non-Operating Items -2.2 1.9 Operating Profit before Working Capital Changes 15.1 8.2 Changes in Working Capital -27.4 -19.1 Cash Generated from Operations -12.3 -10.9 Less: Direct Taxes paid -3.2 -1.5 Net Cash from Operating Activities -15.4 -12.3 Cash Flow from Investing Activities -20.2 7.0 Cash Flow from Financing Activities 35.8 8.0 Net increase/ (decrease) in Cash & Cash equivalent 0.2 2.7 Cash and cash equivalents at the beginning of the year 1.9 1.6 Effect of exchange rate changes on Cash & Cash Equivalent 0.0 0.0 Cash and cash equivalents at the end of the year 2.0 4.3 29 Consolidated Historical Profit & Loss Particulars (Rs. Crs.) Mar-22 Mar-21 Mar-20 Mar-19 Mar-18 Revenue from Operations 205.2 169.3 98.7 85.6 56.2 Cost of Materials Consumed 126.6 84.6 46.2 52.3 33.8 Purchase of Traded Goods 8.0 5.9 8.9 0 0 Changes in Inventories of Finished Goods and Work in Progress -4.8 7.3 -8.6 2.4 0.7 Employee Benefits Expense 18.6 14.4 11.8 11.6 10.2 Other Expenses 37.3 37.1 33.7 19.5 14 EBITDA 19.6 19.9 6.7 -0.3 -2.6 EBITDA % 9.5% 11.8% 6.8% -0.3% -4.6% Other Income 13.5 9.0 8.2 8.7 7.8 Depreciation and Amortisation Expense 2.1 1.7 1.8 2.1 2.5 EBIT 31.0 27.3 13.1 6.3 2.7 Finance Costs 4.2 4.9 9.9 10.4 6.6 PBT 26.8 22.3 3.2 -4 -3.9 Total Tax Expense 10.6 5.7 -3.1 1.7 1.8 Profit for the year 16.2 16.6 6.4 -5.7 -5.8 PAT % 7.9% 9.8% 6.5% -6.7% -10.2% EPS 2.4 2.5 0.9 -0.9 -1.1 30 Strengthening Balance Sheet Borrowings & Cash and Cash Equivalents (Rs. Crs.) Net Debt to Equity 0.7 Borrowings 101.8 Cash & Cash Equivalents 0.5 65.0 62.9 0.4 45.7 0.3 19.3 0.1 2.5 1.6 1.8 1.8 2.0 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Figures on consolidated basis 31 Efficient Working Capital Management Receivable Days Payable Days Receivable Days 134 132 110 107 100 87 78 70 45 36 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Net Working Capital days IInnvveennttoorryy DDaayyss 110 90 93 83 72 56 52 49 6 -6 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Figures on consolidated basis 32 Key Takeaways New avenues for Growth Value Creation for Stakeholders 5 1 Entry into newer customers & geography with Revenue and Profitability Growth new products developed over the period Global & Domestic mining growth along Strong Order book Visibility & with industry diversification 4 2 Replacement demand The mining industry in India & across the globe With strong orderbook & revenue visibility, has been growing so as the need for belting has along with huge replacement demand. We increased. Our capabilities to cater to multiple are all ready for growth in coming years industries gives us strong growth visibility 3 Operational Leverage to play out Increase in scale will lead to operating leverage play out and enhance Operating Margins 33 THANK YOU Investor Relations : Orient Capital International Conveyors Limited Mr. Faraz Ahmed :+91 9619705150 Mr. Udit Sethia, Director Email: faraz.ahmed@linkintime.co.in CIN : L21300WB1973PLC028854 Mr. Rajesh Agrawal : +91 9967491495 E: investors@iclbelting.com Email : rajesh.agrawal@linkintime.co.in www.iclbelting.com www.orientcap.com