Batliboi Ltd — Investor Presentation 2024

Aug 22, 2024

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Date : 22[nd] August, 2024

Subject: Investor Presentation

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, we are enclosing herewith copy of Investor Presentation titled Batliboi Limited Investor Presentation Q1FY25

The above information is also available on the website of the Company i.e. www.batliboi.com

Kindly take the same on your record.

Thanking you

Yours faithfully,

For Batliboi Limited

POOJA Digitally signed by POOJA ROHIT ROHIT SAWANT Date: 2024.08.22 SAWANT 14:40:32 +05'30'

Pooja Sawant Company Secretary ACS - 35790

Place: Mumbai

Encl: As above

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Batliboi Ltd

Investor Presentation Q1FY25

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Visit Our Website www.batliboi.com

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Disclaimer

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This presentation contains statements that contain “forward looking statements” including, but without limitation, statements relating to the implementation of strategic initiatives, and other statements relating to Batliboi Ltd.'s (“Batliboi Ltd” or the Company) 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.

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

Note - Numbers discussed in the presentation are consolidated and rounded off to nearest digit.

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Management Commentary on 1QFY25 Results

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Chairman of Batliboi Ltd

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I am pleased to announce that Batliboi Ltd has commenced FY 25 with a strong performance. In this quarter, our revenue grew 16% reaching INR 73 Cr, EBITDA increased by 37% and reached INR 6.0 Cr, the Profit before tax increased 90% and reached INR 4 Cr and Net Profit increased by 45% and stood at INR 3 Cr.

This achievement is attributed to strategic initiative taken by the Company in bringing out higher value product improving operational efficiencies etc.

Nirmal Bhogilal

Our future Outlook is fueled by the growth in the economy both in India and North America coupled with strategic partnership and collaboration with International Companies for both Indian and global requirements.

As always we remain committed to provide our customers with superior quality products and services and thereby creating greater value for our shareholders.

In the coming quarters and beyond we will be focusing on strengthening our business model by increasing capital expenditure in our manufacturing facilities, climbing up the value chain and ensuring growth and improved product quality and services for our customers.

Note - Numbers discussed in the presentation are consolidated and rounded off to nearest digit.

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Note - Numbers discussed in the commentary are consolidated and rounded off to nearest digit.

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About Batliboi Ltd

Batliboi at a Glance

Batliboi: A Well Diversified Business Group Batliboi Groups and Divisions

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Batliboi Ltd at a Glance

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INR 73cr INR 6cr INR 4cr
1QFY25 Revenue 1QFY25 EBITDA 1QFY25 PBT
0.42x
INR 3cr
FY24 Net debt to
1QFY25 PAT
equity
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375 Number of employees Exports in 15+ Countries

INR 286cr FY24 Revenue High Growth Business Segments ✓ Machine Tools ✓ Air Engineering ✓ Textile Machinery

Manufacturing location unit ✓ Surat, India ✓ Peterborough in Canada(Quickmill Inc, Subsidiary of Batliboi Ltd.

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Note – Number of employees include employees of Quickmill, Canada.

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Batliboi Ltd: A Well Diversified Business Group

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Machine Tools

Textile Engineering

Air Engineering Textile Machinery Manufacturing Agencies Group Group Division Division Leading manufacturer of Agents of Leading Textile ❖ CNC Machines ❖ Metal Cutting ❖ Humidification Machinery in: ❖ Conventional Machines ❖ Waste Collection ❖ Machines ❖

• ❖ Metal Cutting

• ❖ Metal Forming Machines

❖ Spinning

• ❖ Automatic Controls

• ❖ Knitting

• ❖ Central Monitoring

• ❖ Workshop Machine Packages

❖ Processing

• ❖ Bale Press System

❖ Technical Textiles Machinery

• ❖ Energy Management

Subsidiary: Quickmill Inc, Canada

❖ Evaporative Air Cooling ❖ Ventilation and AirConditioning

• ❖ Effluent Treatment Plants

Design, Manufacture, Sale and Services of:

• Gantry Drilling and Milling Machines

• ❖ Oils and Consumables

Other Group Companies

• ❖ Batliboi Environmental Engineering Ltd (Air Pollution, Industrial Fans, Hydrogen Gas Solutions).

• ❖ Batliboi Impex Ltd (Logistics Business)

• ❖ Batliboi Renewable Energy Solutions Pvt Ltd (Wind Energy, Solar Energy)

• ❖ Spartan Electricals (Custom Built AC, PMAC and EV Motors for OEMS).

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Machine Tools

Manufacturing Division (India)

Agency Division

• ❑ Offers 2 to 3 axis CNC machines – Vertical Machining Centers, Turning Centers, Vertical Turning Lathes.

Represents state of the art Machine Tools for:

• ❑ Metal Cutting

• ❑ Metal Forming Applications

• ❑ General Purpose Machines - Radial Drilling Machines, Portable Drilling Machines with Universal Head.

• ❑ Workshop Machine Packages

• ❑ 60 trained engineers and technicians for both sales and services through a network of 15 offices.

Key Industries Catered

Auto Component

• ❑ Major customers from Auto Component, Tractors, Dies and Molds, Light Engineering and Infra Industries.

Tractors

Dies and Molds Light Engineering Infra Industries

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Revenue from Machine Tool Division (INR Cr)
167
124
104
91
83
47
FY20 FY21 FY22 FY23 FY24 1QFY25
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Number of machines installed
310
278
225
203
165
8 6 7 8 12
FY20 FY21 FY22 FY23 FY24
Batliboi Quickmill
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Machine Tools Global Presence: Quickmill our Canadian Subsidiary

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Quickmill is headquartered in Peterborough, Ontario, Canada and is engaged in the manufacture and sale of large size Gantry Drilling & Milling machines. It caters to the global market for the Energy, Structural Steel, Aviation, large equipment manufacturing and Job shop manufacturing sectors.

400+ Projects Installed

Quickmill revenue contribution to Total Revenue (%) Projects Installed 105 44% Satisfied Clients 35% 32% 29% 23% 130+ Customers Worldwide FY21 FY22 FY23 FY24 1QFY25

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Net Debt Free with adequate surplus

FANUC America Authorized CNC Aggregator

Engineered and built in Canada with; sales to USA, Canada, Mexico, Saudi Arabia, India

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Textile Engineering

It consists of Air Engineering and Textile Machinery

Textile Machinery Group

Air Engineering Group

• Serves the Spinning, Knitting, Processing, and Technical textile industry.

Solutions for Air Engineering in:

• Textile and Para Textile

• Supplies latest generation of equipment and accessories from companies like:

• The production of Natural and Para Textile

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• The production of Natural and ManMade Fibres

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• Tobacco Industries

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• Paper and Cellulose Industries

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• Production of Glass Fibers

• Food Industries

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• Tyre Industries

• Various other Industrial applications

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Revenue from Textile Engineering Group (INR Cr)

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129
118
104
92
68
27
FY20 FY21 FY22 FY23 FY24 1QFY25
Number of machines installed
270
230
178
113
94
FY20 FY21 FY22 FY23 FY24
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Our USP’s

Diverse Business Segments Extensive marketing network Large Manufacturing Base A Growing Orderbook

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Diverse Business Segments

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Total Revenue (Inr cr)

Approximate Breakup (%)

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1%
286
254
41%
197
58%
FY22 FY23 FY24 FY24
Amt (Inr cr) Machine Tools Textile Engineering Others
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Geographical Presence (%)

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39%
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61%
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FY24

Domestic Business International Business

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Widespread Sales and Distribution Network in India

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Ludhiana
Mohali
New Delhi 15
Faridabad
Branch Offices
Ahmedabad
Vadodara
Kolkata
Rajkot
Surat
Nashik
Aurangabad 15
Mumbai
Pune Number of country
Kolhapur
Guntur exports
Corporate Office
Manufacturing Facility
Sales & Service Offices
Chennai
Bengaluru
Resident Office
Mysuru
Puducherry
Coimbatore
Tirupur
Trichy
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Strong Manufacturing Base

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Land
In Surat
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4 Acres marked for sale
Land
waiting for right price,
In Surat
approximate value over
INR40 crores
45 acres of land
02
01
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8 acres could be developed for other than use by the company 03

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Healthy Backlog

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Order Backlog of INR243cr (as of 30[th] June,2024)

Outstanding Value (%)

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66.84%
33.16%
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Machine Tool Group Textile Engineering Group

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Strategic Initiatives

Proposed merger of Batliboi Ltd. and Batliboi Environmental Engineering Ltd. (BEEL) Key Structure of the deal Capex

Tapping the opportunity in CNC space Emerging opportunities from Air Engineering (Textile & Non Textile Industries) and Textile Machinery space Foraying in Green Hydrogen

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Proposed Merger of Batliboi Ltd and Batliboi Environmental Engineering Ltd (BEEL)

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Strengthen Balance Sheet

Endeavour to become Net Debt Free post merger

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Value unlocking by the merger

Focused Operations

Optimally leverage Manpower, Fixed Assets and Manufacturing Facilities

Leveraging customer relationship and expanding the customer base

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Batliboi Environmental Engineering Limited (BEEL)

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Dry & Wet Pollution Control Equipment/ Systems

Air Pollution Control Division

Design, Engineering, Installation and Commissioning of:

• De-dusting System

• Dust and Fume extraction

• system

• TAR Separation Systems(WESP)

• Gas Cleaning ad Scrubbing System together with Auxiliary Equipment

Industrial Fans

Design, Manufacturing and Supply of Centrifugal Fans & Blowers of:

• Light Duty

• Medium Duty and

• Heavy Duty Constructions

Hydrogen Gas Solutions Hydrogen Solutions for Industrial Applications such as:

• On-site generation solution

• • Engineering Support Services for Green & Grey Hydrogen

• Nox and Sox removal from flue gases

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Key Structure Mechanics of the Deal

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Merger of Batliboi Environmental Engineering Limited (BEEL) with Batliboi Limited

The Board of Directors of Batliboi Limited at their Meeting held on 11th March, 2024 had accorded their approval on revised scheme of Merger of Batliboi Environmental Engineering Limited into the Batliboi Limited. The Company had filed the scheme with BSE along with the necessary documents under Regulation 37 of SEBI (Listing Obligation and Disclosure Requirement) Regulation 2015 with BSE Limited and the Company is awaiting approval from relevant authorities.

• Appointed Date: 1 April 2023 (i.e., date of vesting of assets/ liabilities)

• All investment held by BEEL to be vested with Batliboi Cancellation of 11% holding by Batliboi in BEEL

o Authorized Capital: Combination of authorized share capital of BEEL with that of Batliboi

o New Equity Shares of Batliboi Ltd to be issued to the shareholders of BEEL in swap ratio of 9:10

o RPS of Batliboi Ltd to be issued to the RPS holders of BEEL in swap ratio of 1:1

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Seizing Rising Opportunity Through Expansion Plans

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Machine Tools

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INR 20cr
Capex
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• Increase the capacity of Machine Tool Business from 25 machines per month to 50 machines in the next

• Double two years.

• Capacity • Revenues could increase by ~ INR80cr post capacity installation • Upgrade the foundry from 90T/month to 200T/month (Castings)

• Upgradation • Upgradation of Energy Efficient Equipment and state –of-the-art Electric Furnace will help in reducing power consumption by around ~ 30% and cater to growing internal demand .

• Product Range • Extending existing product range and sub verticals

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~7.8% CAGR(FY23-FY32) Estimated Growth of Indian Machine Tool Market

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USD 229.46bn Estimated growth in market size by FY32

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https://www.fortunebusinessinsights.com/industry-reports/machine-tools-market-101693

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Seizing Rising Opportunity Through Expansion Plans

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Textile Engineering

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INR 5cr
Capex
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• Capacity & • Increasing the capacity adding state-of-the-art Quality production machines

• Enhancement • Focusing on quality • Improving market share • Tapping export markets

• Exports • Increasing export business

• Product Range • Extending existing product range to other industries

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~5.3% CAGR(FY23-FY32) Estimated Growth of Global Textile Machinery Market USD 41.2 bn Estimated growth in market size by FY31

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FY23 (USD 1.13bn)
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FY27 (USD 1.71bn)

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Others
Aerospace 7% Aerospace Others
5% 5%
Automative
Defence
Manufacturers
Defence 17% Automative
41%
15% Manufacturers
41%
General
General
Engineering/
Engineering/
Industrial
Industrial
33%
32%
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Massive Opportunity

in CNC Machine Market Globally

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Global CNC Machines Market (USD bn) 51.5
46.6
42
38.2
34.8
31.6
26 27.8 27.2 29.2
FY18 FY19 FY20 FY21 FY22 FY23 FY24F FY25F FY26F FY27F
Estimated Market (US bn)
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https://www.fortunebusinessinsights.com/industry-reports/machine-tools-market-101693

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Emerging Opportunity from Textile Sector

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• ❑ The rising fast-fashion trend is driving up demand for innovative textile machinery used to create modern clothing with unique fabrics, patterns, styles, colors, and designs.

• ❑ To grab on the rising opportunity in textile sector Batliboi plans to focus on exporting Textile Machinery to textile major hubs like Bangladesh, Vietnam and Uzbekistan. Partner with LMW for project exports to Ethiopia, Kenya.

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Textiles and Apparel exports from India (USD bn)
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65
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37 36
34
30
FY18 FY19 FY20 FY21 FY26F
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Forecast Global Textile Market Size (USD bn)

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755.58
711 718
682
647
573
FY22 FY23 FY24 FY25 FY26 FY27
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https://www.seair.co.in/blog/textile-exports-from-india.aspx

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Foraying on Sustainability Green Hydrogen Space

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Why Green Hydrogen?

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Market Size
5MMT of Green Hydrogen by FY2030
Sustainability
50MMT of CO2 emissions are expected to be
averted
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Investment
INR 8 trillion worth of
opportunities in Green
Hydrogen space.
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Batliboi Ltd Roadmap

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• ➢ Expanding newer geographies of Gulf, Vietnam, Bangladesh and Uzbekistan

➢ Better realizations

Way Forward

• ➢ Endeavour to become net Debt free company post the merger with BEEL.

• ➢ We aim to grow our Revenue on Consolidated basis.

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Annexures

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Our Rapid Growth Milestone

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Net Revenue (INR cr) EBITDA (INR cr) and EBITDA margins (%)
286
254
8%
197
8%
5% 8%
73
10 20 23 6
FY22 FY23 FY24 1QFY25 FY22 FY23 FY24 1QFY25
EBITDA Margins (%)
Leverage Ratios (x)
PAT (INR cr) & PAT margins(%) 6.25
4%
3%
4%
11 3.27
9
2.71
3
FY22 FY23 FY24 1QFY25
-2% 0.48 0.49 0.42
-5
PAT PAT Margins FY22 FY23 FY24
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Net debt to equity Net debt to EBITDA

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Professional Management Team

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Nirmal Bhogilal Chairman

Sanjiv Joshi Managing Director

Kabir Bhogilal Whole Time Director

• ❖ Mr. Nirmal Bhogilal is a B.Sc. (Engg.), Chemical Engineering from Imperial College, London University.

• ❖ He was Past President and Currently Committee Member of Indian Machine Tools Manufacturers Association (IMTMA).

• ❖ He has been Chairman of various committees in CII and was Chairman-WR.

• ❖ He was also past president of Indo German Chamber of Commerce (IGCC).

• ❖ Mr. Sanjiv Joshi is a B. E. Mechanical and Post Graduate in Marketing Management. He started his career with Batliboi as Graduate Engineer Trainee in 1984.

• ❖ He has worked in all the verticals of Batliboi Ltd. He was appointed as CEO of Environmental Engineering Group in 2008. He was appointed as Managing Director of Batliboi Limited in November 2020. He has an overall industry experience of more than 40 years.

• ❖ Mr. Kabir Bhogilal is a BA (Hons), Business Administration, De Montfort University, Leicester, UK.

• ❖ He joined Batliboi in 2007 as Divisional Manager – Business Development. He has spent his early years on the shop floor and all the business verticals.

• ❖ He is a Director of Batliboi Environmental Engineering Limited, Batliboi Impex Limited, Batliboi International Limited and Batliboi Renewable Energy Solutions Private Limited.

• ❖ He is currently a Director on Indian Machine Tool Manufacturers' Association (IMTMA) and Maharashtra Dyslexia Association (MDA).

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Consolidated 1QFY25 Income Statement

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Particulars (INR in Cr)	1QFY25	1QFY24	YoY%	4QFY24	QoQ%
Revenue from Operations	73	63	16%	75	-2%
Gross Profit	32	27	17%	31	3%
EBITDA	6	4	37%	5	10%
EBITDA Margin %	8%	7%	128bps	7%	95bps
Depreciation	1	1	-2%	1	11%
Earnings Before Interest & Tax	5	3	50%	5	10%
Finance cost	1	1	-19%	1	-19%
Profit Before Tax	4	2	90%	3	21%
Tax	1	0.14	743%	2	-26%
Net Profit	3	2	45%	1	150%
PAT Margin (%)	4%	3%	77bps	2%	234bps
Earnings Per Share Basic (INR)	0.84	0.67	25%	0.39	115%
Earnings Per Share Diluted (INR)	0.83	0.66	26%	0.38	118%

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Numbers are rounded off to nearest digit.

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Consolidated Income Statement

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Particulars (INR in Cr)	FY 22	FY 23	FY24
Revenue from Operations	197	254	286
Gross Profit	75	101	120
EBITDA	10	20	23
EBITDA Margin %	5%	8%	8%
Depreciation	4	4	4
Earnings Before Interest & Tax	6	16	19
Finance cost	8	5	5
Profit Before Tax	-2	11	14
Tax	2	1	5
Net Profit	-5	11	9
PAT Margin (%)	-2%	4%	3%
Earnings Per Share Basic (INR)	-1.64	3.67	3.16
Earnings Per Share Diluted (INR)	-1.64	3.57	3.11

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Consolidated Balance Sheet

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Particulars	FY22	FY23	FY24
Current Assets:
Inventories	34	33	45
Trade Receivables	19	32	38
Cash And Cash Equivalents	12	7	15
Loans	0	0	0
Other Current Assets	4	3	5
Current Tax Assets(Net)	0	-	-
Total Current Assets	69	75	103
Non Current Assets:
PPE	191	191	192
Capital Work in Progress	2	0	1
Right of use assets	2	1	2
Other Intangible assets	0	0	0
Financial Assets	4	3	2
Non-Current assets held for sale	18	18	18
Other non-current assets	1	1	1
Total Non-Current Assets	218	214	216
Total Assets	287	289	319

Particulars	FY22	FY23	FY24
NON-CURRENT LIABILITIES
LongTerm Borrowings	42	61	56
Lease Liability	1	1	2
Trade Payables	2	2	1
Other financial liabilities	4	1	1
Deferred Tax Liabilities [Net]	13	13	15
Provisions	4	4	4
Other Non-Current Liabilities		3	3
Total Non-Current Liabilities	66	85	82
Equity and Liabilities
Equity Share Capital	14	14	15
Other Equity(includes share premium, Reserves and surplus)	112	122	132
Total Equity	126	136	147
CURRENT LIABILITIES
Short Term Borrowings	30	12	21
Lease Liability	1	0	1
Trade Payables	29	28	39
Other Current Liabilities	33	25	25
Short Term Provisions	2	3	3
Current Tax Liabilities (Net)		0	1
Total Current Liabilities	95	68	90
Total Liabilities	161	152	174
Total Equity and Liabilities	287	289	319

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ITMA 2023

Milan, Italy 8-14 Jun

Air Engineering

ITMA 2023

Milan, Italy 8-14 Jun

Textile Machinery

ACMEE 2023

Chennai, India 15-19 Jun Machine Tools

IMTEX 2024 Bengaleru, India 19-23 Jan Machine Tools

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Recent Participations in Exhibitions

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Sample Customer Base

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Machine Tools

• Andritz Hydro Pvt. Ltd.

• Balkrishna Industries Ltd

• Bhabha Atomic Research Centre (BARC)

• Bharat Heavy Electrical Ltd

• Brahmos Aerospace Trivandrum Ltd.

• COFMOW

• Department Of Employment And Training

• Flender Drives Pvt. Ltd.

• IFGL Refractories Ltd.

• Indian Railways

• Inox Wind Ltd.

• J J Engineers & Fabricators

• Jaquar & Co Pvt Ltd

• Jindal Rail

• Jindal Steel & Power Ltd.

• JSW Steel

• Kartar Agro Industries Pvt Ltd

• L&T MHI Turbine Pvt Ltd.

• Larsen & Toubro

• SAIL

• Siemens Ltd.

• Space Applications Centre (SAC), ISRO

• Suzlon Towers & Structures Ltd.

• Tata Steel – TGS

• TEXMACO Limited

• Titagarh Wagons

• Torrent Power Ltd.

• Ultra Tech Cement Ltd .

• Walchandnagar Industries Ltd.

▪ Concurrent Technology Company, USA

• Cust-o- Fab, USA

• Kelvoin, USA

• Ohmstede, USA

• O’Neal Industries, USA

▪ Zamil Steel, Saudi Arabia

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Sample Customer Base

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Textile Engineering

• Aarati International Ltd.

• Anwar Group, Bangladesh

• GHCL Textiles Ltd

• Ha-meem Group, Bangladesh

• Indo Count Industries Ltd

• L. S. Mills Ltd.

• RSWM Limited

• Sanathan Textiles Ltd

• Sangam India Ltd

• Shanmugavel Group

• Shreedhar Spinners Pvt Ltd

• Sutlej Textiles & Industries Ltd

• Trident Group

• Wellknown Industries Ltd.

• Welspun Group

• Ambika Cotton Mils

• Arvind Mills

• Bhilosa Industries

• Birla Advanced

• Himatsingka

• Hunaram

• HYS Industries

• Jay Jay Mills

• Kitex Apparel Parks

• KPR Mills

• Mango Filaments (Kejriwal)

• Nahar Industrial Enterprises

• Shobikaa Impex

• Sky Textile India (Sky Spintex)

• Technocraft Industries

• Trident

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Sample Customer Base

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Batliboi Environmental Engineering Ltd

▪ Arcelor Mittal / Nippon Steel Ltd. ▪ ATC ▪ CEAT ▪ Chloride Metals Ltd. ▪ Dianelli India Pvt. Ltd. ▪ Epsilon Carbon ▪ Good Year ▪ ISGEC ▪ JSPL ▪ JSW Ltd. ▪ Larsen & Toubro ▪ Megha Engineering Ltd ▪ Nuclear Fuel Complex ▪ SAIL ▪ Thermax ▪ Yokohoma

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Connect with us.

Saloni Ajmera Tel: +91-99305 77801 Email: saloni@goindiaadvisors.com

Pooja Sawant Tel: +91-22 6637 8200 Email:investors@batliboi.com w w w. b a t l i b o i . c o m

Sheetal Khanduja Tel: +91-97693 64166 Email: sheetal@goindiaadvisors.com w w w. g o i n d i a a d v i s o r s . c o m