Centum Electronics Ltd — Investor Presentation 2020

Sep 28, 2020

Ref: CEL/NSEBSE/IP/28092020 28[th] September, 2020

To,

Listing Department Department of Corporate Services ‐ Listing National Stock Exchange of India Limited BSE Limited Exchange Plaza, P. J. Towers, Bandra Kurla Complex, Dalal Street, Bandra (East), Mumbai – 400 001 Mumbai – 400 051

Re: Scrip Symbol: CENTUM/ Scrip Code: 517544

Dear Sir/ Madam,

Sub: Updated Investor Presentation

Further to our communication dated 3[rd] September, 2020, please find enclosed herewith the updated Investor Presentation. Kindly take the same on your records.

Pursuant to Regulation 46(2)(o) of the Listing Regulations, the aforesaid Investor Presentation is also uploaded on the website of the Company i.e. www.centumelectronics.com

Yours faithfully,

For Centum Electronics Limited

NAGARAJ K V

Digitally signed by NAGARAJ K V Date: 2020.09.28 15:34:29 +05'30'

Nagaraj K V Company Secretary & Compliance Officer

Encl: as above

Centum Electronics Limited

44, KHB Industrial Area, Yelahanka New Town, Bangalore - 560 106, Karnataka, India Tel +91-(0)80-4143-6000 Fax +91-(0)80-4143-6005 www.centumindia.com CIN - L85110KA1993PLC013869

INVESTOR PRESENTATION SEPTEMBER 2020

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Snapshot

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25 years of domain expertise in Global Operations with strong Concept to Commissioning 2,100 Employees
Electronics Design & Manufacturing presence in India, Europe and North capabilities 650 Designers
Solutions America
Flexible Engagement Models Strong Supply Chain Network Strong relationship with marquee Serving segments with Hi-Tech, High
global clients Entry Barriers
Healthy Order Book of Single Source Supplier for ~80% of 75% Revenues from Overseas Strong Corporate Governance
~INR 12,000 Mn manufactured products Customers in Advanced Economies
Not including client forecasts of EMS division & signed LOIs for Transportation products
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Company Overview

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• Founded in 1993, Centum Electronics Limited (Centum) is one of the largest Electronics System Design and Manufacturing (ESDM) companies in India.

Key Business Segments:

Operational Income (In Mn) and EBITDA

• Engineering R&D (ER&D) Services (38%) – Involves conceptualizing and designing of Electronic Hardware, Embedded Software, FPGA, Analog, Radio Frequency products, etc.

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12% 11% 11%
10%
8%
5%
Operational Revenue
EBITDA
EBITDA Margin
9,304
8,833
7,811
7,032
,897
1
4,144 82 4 558 399 1,038 981
181
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• Competencies across product design and manufacturing of complex and critical products and supplying to marquee customers in the most advanced economies as well as in India.

• Electronic Manufacturing Services (EMS) (35%) – Services include manufacturing services solutions focused on a High Complexity products in high technology segment

• Offering entire spectrum of design services and manufacturing of systems, subsystems for mission critical products in Defence, Space, Aerospace, Industrial, Transportation and Medical sectors.

• Build-To-Specification (27%) – Services include turnkey solutions to take project from conception to mass production quickly and efficiently.

• World-class design & manufacturing facilities across North America, Europe and India, with cutting edge infrastructure as well as a global supply chain capable of delivering products with high quality and reliability anywhere in the world.

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and reliability anywhere in the world. EBITDA Margin
Geographical Breakup
Industry Breakup
North
Defense, Space & Transport & Asia
Aerospace Automotive Industrial & Energy Healthcare America 31
12%
%
Europe
57%
44% 30% 20% 6%
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Key Milestones

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2016-2020

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Future Proof Expansion

• FCP business growth in Telecom due to product performance & global cost leadership

2010-2016

• Defence & Space segment growth due to indigenization thrust and defence offset policy

Growth across the board

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• Greenfield expansion for EMS capacity

• Acquisition of Adetel Group to expand service offerings of ER&D Services, establish global footprint across Europe and North America and new customer/market access

• Exit from FCP component business through sale of 51% stake to JV partner

• Capacity enhancement for space & defence business to support strong order book growth

• Growth in EMS business after investment in international Sales & Marketing

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• Incorporated and setup manufacturing facility for Hybrid Microelectronics

• Inaugurated as a pioneer in High-Tech electronic manufacturing in India

• Established a leading position in the Indian telecom components market

• JV with CMAC Industries Canada followed by entry and growth in export markets

• Foray and growth in EMS business following Solectron’s acquisition of CMAC Industries

2006 - 2010 Restructuring

1993 - 2006 Initial Years

• Demerger of EMS into Solectron EMS

• Buy back & Merger of EMS following Flextronics’ acquisition of Solectron

• Centum Rakon JV formed for Frequency Control Products (FCP) for technology and market access to global OEMs

• Exit of domestic telecom components business for C-DOT

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Board of Directors

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Apparao V Mallavarapu - Chairman & MD

Apparao (Rao) V Mallavarapu founded Centum Electronics in the year 1993. Under his able leadership Centum has grown to become one of the largest electronics companies in India. He has initiated and successfully managed joint ventures with several multi-national companies. He has been recognized as “Electronics Man of the Year” and “Champion of Innovation” by premier organization.

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Nikhil Mallavarapu - Executive Director

Mr. Nikhil has been associated with Centum since 2012 has served in various leadership positions including overall business unit management and group level Corporate & Strategy Development. Prior to joining Centum, he worked at the multinational semiconductor company- Analog Devices in Boston. Mr. Nikhil holds MSc and BSc Degrees in Electrical and Computer Engineering from Carnegie Mellon University and an MBA from the INSEAD Business School in France.

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Manoj Nagrath - Independent Director

Manoj Nagrath is the Managing Partner of the firm S.P. Nagrath & Co. LLP, Chartered Accountants, a highly reputed accounting advisory firm with offices in New Delhi and Bangalore. He has advised several large multinationals on a range of cross border and domestic transactions. Mr Nagrath became a member of the Institute of Chartered Accountants of India in 1983.

S. Krishnan – Independent Director

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Mr. S. Krishnan has close to 40 years of rich experience in the areas of Electronics Design, Manufacturing Process Technology and Quality Assurance. He served as the head of Design and Engineering at Centum since its inception till his retirement in 2004 was instrumental in the companies growth. Mr. Krishnan served in the microelectronics group of Bharat Electronics Limited (BEL) prior to joining Centum.

Pranav Kumar N Patel - Independent Director

Mr. Pranav is the founder and CEO of MediTechSafe, USA an innovative healthcare oriented cybersecurity company. Prior to this, he has held various senior executive roles including leading GE’s Healthcare Services business in North America as well as Chief Marketing Officer at GE Aviation. Pranav has also coauthored 6 patents in fields of Microwave integrated circuits, multi-chip module, packaging and energy storage systems

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Rajiv C Mody - Independent Director

Mr. Rajiv C Mody is the Founder, Chairman, Managing Director & CEO, of Sasken Technologies Ltd. (Sasken). Under his leadership, Sasken has grown into a global powerhouse in Product Engineering and Digital Transformation services. Prior to founding Sasken, he worked with corporations like AMD, Seattle Tech Inc., and VLSI Technology Inc. Mr Mody has served as an Executive Council Member of NASSCOM (2001-2008) and is part of the Harvard Business School South Asia Advisory Board.

Dr. Swarnalatha Mallavarapu – Non-Executive Director

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Dr. Swarnalatha Mallavarapu (Latha) is the Managing Director of Centum Industries Private Limited. Dr. Latha holds a Ph.D in Physics and has worked at premier research institutes including the US Air Force Weapons Labs in Albuquerque, the Indian Institute of Science in Bangalore and the R&D division of Bharat Electronics Limited. Her research in thin films and devices for applications have been well recognized. Dr. Latha was a government nominated member of the Syndicate of Bangalore University and also served a Chairperson for FICCI Ladies Organization, Karnataka Chapter.

P. Thiruvengadam - Independent Director

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Mr. Thiruvengadam was a National Director at Deloitte Touche Tohmatsu India Pvt. Ltd (DTTIPL) providing leadership to the HR transformation practice. He has over 40 years of global experience in management consulting with expertise in HR Strategy & Talent Management, Business Process Improvement and Strategic Planning among other advisory services. He is a Cost Accountant from The Institute of Cost Accountants of India and a graduate from Indian Institute of Technology, Madras.

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Kavitha Dutt Chitturi - Independent Director

Mrs. Kavitha Dutt Chitturi is the Joint Managing Director at KCP Ltd., a diversified company involved in the manufacture of Cement, Heavy Engineering, Sugar and Power Generation. Under Kavitha’s stewardship KCP has also ventured into the hospitality industry. She is Chairperson FICCI, Tamil Nadu State Counciland has served as Joint Managing Director of The KCP Limited, Kavitha, among other responsibilities, also holds full charge of Human Resource functions of the Group.

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Key Management Personnel

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K S Desikan - Chief Financial Officer

K S Desikan has been serving as CFO at Centum since 2001 and has been instrumental in the development of the strategy and growth of the company. He has an overall experience of 34 years. Prior to joining Centum, he served leading organizations like Tube Investments of India and BPL Ltd in various capacities. He is a commerce graduate, Chartered Accountant and Cost Accountant.

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Sathya Doraiswamy - President - EMS

Sathya Doraiswamy has been with Centum since Nov 2019. He has 17+ years of combined experience in General Management, Operations, and Sales. Prior to Joining Centum he spent 13 years at Harman Inc, in leadership roles spanning Global Operations, Product Management and business development in the US. He also worked in Quality leadership roles at Marquardt switches,.

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Francois Sebes - CEO - Centum Adetel

Francois Sebes founded Adetel Group in 1990 as a provider of Engineering Services specialized in electronics products and systems in high technology sectors. Under his leadership, the company has grown into a highly reputed company with 600 employees in France, Canada and Belgium and India. He facilitated the acquisition of Adetel by Centum Electronics to benefit from the advantage of greater international presence and strong manufacturing capability. Prior to this, he worked at THALES Avionics and CISI Group.

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Vinod Chippalkatti - President - SEBU

Vinod Chippalkatti is responsible for the Build to Spec business in Centum delivering mission critical products for Satellites, Launch Vehicles, Radars, Missiles among others. He completed his Bachelor’s and Master’s degree. He has been with Centum for 20 years in different leadership positions including heading the design and engineering function. Prior to joining Centum 20 years ago, he spent 10 years at the Indian Space Research Organization working on India’s first series of communication satellites.

Suresh Iyer - Chief Growth Officer

Suresh is a Techno Commercial leader who comes with 25+ years of experience in Global Sales, Supply Chain Consulting and Digital Transformation. Most recently, he was President & CEO of Corbus, a Supply Chain Consulting firm and prior to that was Vice-President and Global Practice Leader for Supply Chain & Procurement Services with Genpact operating out of Cincinnati, Ohio. He has worked extensively with clients helping them with Business Transformation, Lean Digital Manufacturing and Operations Improvement Programs.

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Geographical Presence

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Canada
UK
Belgium
France
USA
India
Design Team Manufacturing Sales & Support
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Manufacturing Facilities

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Design Department - France

Canada

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EMS Manufacturing - Bangalore

New Facility in Bangalore Aerospace Park

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Micro Electronics Manufacturing - Bangalore

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Testing Lab - Bangalore

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Awards & Recognition in Las ~~t~~ Few Years

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Highest Growth – Electronic
Global Growth Centum in Forbes Asia’s Electronics Man of the
Hardware Exporter
Company 200 BUB list Year
Best Electronics
Champion Of Innovation Best Electronic System Excellence in Financial
Manufacturing Company In
(Mr Mallavarapu Apparao) Design Company Award Reporting from ICAI
A&D Category
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Certifications

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IATF 16949
BUREAU VERITAS
Certification
Aerospace Medical Automotive Railways
ISO 9001
AS/EN9100 Rev D ISO13485 IATF 16949 IRIS - Rev 2
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Information Security
French R&D Environment ESD 20:20 Approved R&D
& Management
certification ISO14001 facility by DST &
system ISO 27001
GOI
Health & Safety
OHSAS 18001
Additional customer specific certifications required to be qualified as a supplier
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*Additional customer specific certifications required to be qualified as a supplier

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Centum’s Value Proposition

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• •

• Integrated Fast New Strong Domain Expertise Program Management to conceptualize & can reduce time to realize High Reliability market, support costs Electronics

• • Early implementation • Quicker time to market of sourcing and through Centum industrialization strategy industrialization/NPI improves quality in framework ramp up

• • •

• Global Footprint close Competitive Integrated Fast New to the customers Engineering R&D by Program Management to conceptualize & balancing oncan reduce time to realize High Reliability

• • Uniquely positioned as shore/offshore mix market, support costs Electronics a one-stop-shop • • •

• solution provider with Competitive Early implementation Quicker end to end capabilities. Manufacturing by of sourcing and through Centum leveraging Indian cost industrialization strategy industrialization/NPI

• • Flexible engagement base and supply chain improves quality in framework models tailored to strengths ramp up •

• project specific needs Ability to manage • Focus on “Design To product lifecycle

• Cost”, & “Total cost of challenges

• ownership” PROACTIVE

• CONVENIENCE TIME TO COST LIFE CYCLE

• & FLEXIBILITY MARKET MGMT.

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Future Growth Strategy

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Deeper entrenchment of customers by offering one-stopshop solutions with vertically integrated capabilities and value-added services

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Expand customer portfolio domestically and internationally

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Enhancing customer penetration in high growth industry verticals like Healthcare, Automotive etc.

Prudent expansion in infrastructure & technical competencies to support growth

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Clear focus towards achieving sustainable growth, while enhancing margin profile by reducing costs and deleveraging

Leverage “Make in India” policy boosters

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Identify opportunities in “New space” global supply chain

Enhance solutions towards Industry 4.0 for increased digitization and automation

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BUSINESS OVERVIEW

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Business Segments and Sect ~~o~~ rs Served

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• ER&D EMS BTS

• Defence

• CONCEPTUALIZE DESIGN PROTOTYPE & PILOT MASS AFTERMARKET / SPECIFY VERIFY PRODUCTION PRODUCTION LIFE CYCLE SUPPORT Space

• • Feasibility • Hardware design • Electrical CAD • Qualification • Manufacturing • Value engineering batch

• • Architecture • Software design • Design For X (DFX) • Release mgmt. • Obsolescence Aerospace • System • FPGA design • Mechanical CAD • Test tools • Documentation mgmt. development • • acceptance • • Cost analysis Test tools design Prototyping • First Article review Product analysis

• • System simulation • Simulation • Bring up • Norms • Test tools handling • Test tools mgmt. Transportation • Mock-up • Mechanical • Test & Verification compliance • Product migration design • Qualification • Certification process Automotive

• ER&D Services - 38% Industry & Energy

• EMS - 35%

• BTS - 27% Healthcare

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Engineering R&D Services (E ~~R~~ &D)

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• Engineering Services involve conceptualizing, designing and certifying of Electronic Hardware, Embedded Software, FPGA, Analog, Radio Frequency products, Power Electronics, etc.

• Centum Group has a global design strength of over 650 design engineers and for the last 25 years company has been helping customers turn their ideas into products.

• Centum’s engineers work together in multidisciplinary teams to realize customized products for mission critical applications in high technology segments.

• The company’s design centers are located in Europe, North America and India, which enable the company to work closely with international customers while bringing together the best talent from around the world to work on complex problems and provide a competitive solution by managing the optimal onshore/offshore mix for the projects.

• Centum also provides flexible engagement models depending on the specific project requirements. Customers can chose between Consulting Engagements and Fixed Price Contracts.

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CONCEPTUALIZE DESIGN PROTOTYPE & PILOT MASS AFTERMARKET /
SPECIFY VERIFY PRODUCTION PRODUCTION LIFE CYCLE SUPPORT
ER&D Services - 38%
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~~r~~ Electronic Manufacturing Se vices (EMS)

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• The company’s EMS Services include manufacturing solutions focused on a High reliability, High Complexity products in high technology segment

• Centum offers a wide range of manufacturing solutions from Printed Circuit Board assemblies to Complex box builds, Line Replaceable Units (LRU) and full system integration.

• The company helps its customers realize challenging products by having customer-focused teams that leverage their streamlined processes and systems and adapt them to the specific requirements of the customer and product where necessary.

• By providing scalable manufacturing solutions and a flexible, proactive approach to managing the supply chain and lifecycle related challenges, Centum helps customers achieve their goals of lower Total Cost of Ownership and reduced time-to-market among others.

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CONCEPTUALIZE DESIGN PROTOTYPE & PILOT MASS AFTERMARKET /
SPECIFY VERIFY PRODUCTION PRODUCTION LIFE CYCLE SUPPORT
EMS - 35%
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Build to Specification (BTS)

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• The Built to Specification services include taking a project from conceptualization to mass production quickly and efficiently. Centum’s unique positioning with a full range of integrated capabilities make it the ideal product realization partner.

• Customers choose turn-key build to spec offering due to convenience of a single Point of contact for Design/Engineering, Industrialization and Manufacturing which reduces the need for multiple interfaces at each stage of the project and also fastens the products time-to-market and facilitating a Design-To-Cost approach and reducing the Total Cost of Ownership. This engagement model involves higher IP and value creation opportunities for both the customer and for Centum.

• The company is also able to better the product Lifecycle management by proactively and effectively managing issues such as obsolescence, performance upgrades, market-specific localization and cost reduction.

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CONCEPTUALIZE DESIGN PROTOTYPE & PILOT MASS AFTERMARKET /
SPECIFY VERIFY PRODUCTION PRODUCTION LIFE CYCLE SUPPORT
BTS - 27%
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~~c~~ e Aerospace, Space & Defen

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AEROSPACE

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• The Aerospace industry has several ongoing technological initiatives to make aircrafts more fuel efficient, environmentally friendly and safer, which involves incorporating more electronics onboard, making avionics platforms more configurable, and of course factoring in environmental issues and reducing human error to improve safety.

• Alongside products for command & control, power electronics and energy storage applications, Centum is also developing activities in ground and flight testing -- using its own test benches and simulators.

• Centum plays a key role in the global aerospace supply chain delivering critical electronics for cockpit computers, Air Traffic Management and also works closely with OEMs to design next generation flight controls, Power solutions among various other technologies.

SPACE

• Space technology is progressing at a rapid pace driven by commercial applications such as satellite broadcasting, communication, Earth observation, geo-location, and global navigation equipment and services.

• Centum has established a credible track record since 2002 in this segment delivering complex products that address applications in launch vehicles, satellite payloads, satellite bus systems as well as ground equipment.

• The company is also a leading electronics industry partner and one of the largest private contractors for ISRO, involved in its various stages of design, development, qualification and production of electronic modules, subsystems and systems for multiple applications in satellites and launch vehicles. Keeping in mind the growing number of missions of ISRO.

• Centum has made significant investments to ensure that they can deliver products with the right quality, technology and in required quantities to be a trusted partner. It has delivered mission critical electronics on almost all satellite programs of ISRO including the ambitious Chandrayaan and Mangalyaan projects, and also delivered 300 to 500 components for almost every Indian space missions.

DEFENCE

• Centum started its defence business in 2010 and it is today the largest industry vertical for the company. Over the years the company has been successful in developing and manufacturing critical systems for major Defense programs which span across land, air and naval systems with applications in Missiles, Electronic Warfare, Radar, Military Communications, and fire control amongst many.

• For the past two decades, Centum has also been engaged in the development and manufacture of modules, subsystems for missiles, radars and military electronic warfare communication applications for DRDO laboratories, Ordnance Factories and other domestic defence PSUs, and over the past decade, Centum has become one of the select few indian partners to international defence OEMS as well.

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Industrial & Energy

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• The digital transformation in utilities, infrastructure and manufacturing among other industrial segments is driving new products that are smart, collaborative and result in efficiencies for end users.

• Centum enables its customer to realize such products for applications in automation, control and measurement, energy among others.

Industrial Equipment Diagnosis

• Centum’s expertise in energy conversion and storage technology has helped customers develop customized Microgrid solutions as well as new solutions for railway infrastructure projects.

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Oil & Gas Industry
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Industrial Automation

Industrial Circuit Breaker Control System

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Electronics for Phased Smart Valve Industrial 2 Wire Distributed
Array Flaw Detectors Interface Transmitter Control Systems
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Control System
Electronics for Phased Smart Valve Industrial 2 Wire Distributed
Array Flaw Detectors Interface Transmitter Control Systems
Solar Energy Power
Cabinet
Power Grid Industry
Scada System for Power Teleprotection Utility Communication
HIL Test Simulator Turbo
Plant Automation Equipment Equipment
Alternator Regulation
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Healthcare

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• The field of healthcare is rapidly adopting new technologies to augment the quality of treatment and create efficiencies for healthcare providers.

• Centum has engineered a variety of medical devices and equipment for the Healthcare industry that include digital radiography systems, automated pump for drug injection, ultrasound equipment, patient monitoring devices, customized room controls for operation theaters among others.

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Electronics for X-ray Flat Medical Injection System
Panel Detectors
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Electronics for Infusion
Pump
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Pump Panel Detectors
Medical Electronic Medical Panel for Medical Flat Panel Medical Product
Board Surgery Room Acquisition Board Test Area
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Transportation & Automotive

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AUTOMOTIVE

TRANSPORTATION

• The automotive industry is going through a dynamic transformation with new players entering the market introducing disruptive technologies incorporating electronics for applications such as autonomous driving, powertrain architecture, connectivity among others.

• Centum is at the forefront of Transportation sector working very closely with the leading global OEMS and rail operators on developing the next generation technologies for rolling stock and signaling applications.

• Centum has developed proprietary technologies in two key product lines listed below, where our products have been deployed onboard trains in North America, Europe, Asia and Australia for Signaling equipment and Passenger Information Systems • In addition, Centum provides specialist engineering services and manufacturing services to help clients to meet operational, commercial and regulatory requirements.

• Being a specialist in electronics design and manufacturing services Centum supports customers navigate this transformation by turning big ideas into reliable and performing solutions

• Centum’s strong knowledge and experience of developing products to the required safety standards as well as past references in developing similar products for the aerospace and rail transport domains has positioned us well to support our customers as they develop new products and technologies to stay ahead.

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Railway Railway Embedded Railway Embedded
Automation Controller Computer Board
System
Railway Energy Storage System Railway Energy Module
(NEOSEE) (POWERLIC)
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Assisted Car Automotive Automotive Flexray
Navigation Telematic Module Demonstrator
Automotive Elec Board for Solar Power Steering Encoder
Roof-smartop Project Acquisition system
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INDUSTRY OVERVIEW

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ESDM Industry

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ESDM Industry
Global Electronic Market Size (USD Tn)
•
During 2019 2025, the global electronics industry is expected to grow at a CAGR of 3% to reach a 7.5 7.30
size over USD 7.3 Tn by 2025. 6.90 7.10
7 6.70
6.50
• In a span of two years, India’s export of electronic goods has grown 85% to reach USD 11.8 Bn in 6.5 6.30
FY20, increasing its share in the global electronics market to 3.3% 6.10
6
• Indian Electronics System Design & Manufacturing (ESDM) Market is valued at USD 105 Bn in FY20 5.5
and is expected to grow steadily and reach USD 220 Bn by 2025. The Electronics System Market is 2019 2020E 2021E 2022E 2023E 2024E 2025E
expected to grow 2x from USD 81 Bn in 2020 to reach USD 160 Bn by 2025. The Electronics Design
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• Indian Electronics System Design & Manufacturing (ESDM) Market is valued at USD 105 Bn in FY20 and is expected to grow steadily and reach USD 220 Bn by 2025. The Electronics System Market is expected to grow 2x from USD 81 Bn in 2020 to reach USD 160 Bn by 2025. The Electronics Design Market is expected to grow from USD 24 Bn in 2020 to reach USD 60 Bn by 2025.

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Indian Electronic Production Market
(USD Bn)
350 300
300
240
250 200
200 160
130
150 105
85
100
50
0
FY19 FY20 FY21E FY22E FY23E FY24E FY25E
Global Share of Electronics
Producers
Great Britain India 2%
3%
Germany
4%
South Korea
6%
China
USA 51%
Japan 19%
10%
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• With a strong network of science & technology institutions and trained manpower, India has the third largest scientific and technical manpower in the world. This makes the country a strong base for future innovations and for availability of skilled workforce.

• Government of India’s continued focus on Self-Reliance with specific policies to promote manufacturing in India. The Reduction of corporate taxes, announcement of schemes to incentivize manufacturing and capital investment in India combined with a large, growing domestic market and globally competitive wage rates presents a very good case for Indian manufacturing.

• The US-China Trade war which triggered many US companies to revisit their supply chains in light of the tariffs levied on import of electronic items from China.

• The Covid-19 pandemic which has accelerated industries world over to de-risk their manufacturing and supply chain footprint and to ensure business continuity plans are put in place. This is has resulted in many companies moving to a “China plus One” strategy with India being a strong contender for several companies.

Source: Singhi Advisors ESDM Report

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Space, Defence, Transportat ~~i~~ on & Other Industries

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Space, Defence, Transportat i on & Other Industries
• Defence: In India, the defence capital outlay stood at around INR 1.1 Lakh Cr for FY20 and has grown at a 7% Defence Production
Ordanance
CAGR over in the past 5 years. This trend expected to continue given the geopolitical scenario and recent
factory board
border tensions. According to estimates about 40% of the capital outlay was allocated toward domestic 16%
production while the remainder was toward imports. With the government prioritizing Self-Reliance through new
guidelines in the DPP, the balance is expected to shift in favor of domestic defence companies. The private PSUs/JV7% Public
Sector
sector also contributes only 20-25% of domestic defence production which is expected to increase with the Private undertaking
opening up of the sector. Companies 55%
22%
• Space: The number of satellites and launches have steadily increased over the past 5 years for applications
ranging from communications, defence, earth observation and other scientific missions. The demand for more Global Share of Military Expenditure
satellites remains strong as transponder capacities need to be augmented to support increasing
data/broadband and DTH requirement. ISRO’s Human Space flight program, other scientific and earth Others
observation missions as well as MoDs objective to strengthen India’s space warfare capabilities provide further Korea 2% 24% USA
Japan 36%
impetus to the sector over the medium term. 3%
Germany
• Transportation: The Transportation sector is projected to remain relatively stable despite lower ridership in the 3%
United Kingdom China 14%
short term. Governments are expected to continue major infrastructure projects across geographies to support
3% Saudi
longer term objectives of managing mobility more efficiently in cities and towns. Smart and Green mobility Russia 3% Arabia 4%
technologies will remain a focus in the years to come. France 4% India 4%
• Industrial: The Industrial Sector address a wide range of application including Oil & Gas, Industrial Automation India’s Exports & Imports of Defence
(USD Mn)
for process industries, Electrification, Utilities etc. The sharp decline in oil price combined with the temporary
reduction in capex budgets for many industrial companies is expected to have a short-term adverse impact in
this segment. On the other hand, electrification and power grid infrastructure projects are expected to remain 3,334 3,065 3,021 2,917
relatively stable.
1,539
• Medical: The Medical devices industry is a growing segment and has attracted all the more attention in the 1,537
726
wake of the Covid-19 pandemic. There is also expected to be more investment and demand for remote 317 315 227
monitoring and devices that enable telemedicine and predictive diagnostics. Regulation and a growing share 0
of healthcare spend in emerging economies are also key focus themes in this segment in the near to medium FY 15 FY16 FY 17 FY 18 FY 19
term.
India's Export of Defence
Source: India's Import of Defence
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~~u~~ Engineering R&D Service Ind stry

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• Global engineering R&D services outsourcing market is anticipated to reach more than USD 650 billion by 2025 according to a new report published by The marker research report. The major factors which are driving this market is the access to low cost highly skilled resources which can work towards complex tasks of not only designing and testing but also on validation, simulation and execution.

Engineering R&D* (USD Bn)

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50
42
40
28
30
20
10
0
FY18 FY22F
including product engineering
services
F- Forecast
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• Global Engineering R&D (ER&D) space and estimated that the Global ER&D spend by organizations worldwide stands at USD 1.4 Trillion in 2019, and is expected to grow at a CAGR of 7% to cross USD 2.2 Trillion by 2025.

• India will account for 41% of the global digital engineering services market by 2025, according to report by consulting firm Zinnov. As of now, India accounts for $10.6 billion of the digital engineering market share which is expected to increase four-fold in five years.

• The Indian ER&D sector already employs about 7,00,000 people in the country, which could rise to one million by 2025, if the conditions for growth become more favourable

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FY22F. India's Engineering Export (USD Bn)
The
82 81.05
80
78
76.20 76.26
76
74
72
FY18 FY19 FY20
25
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• India’s engineering R&D market will increase from US$ 28 billion in FY18 to US$ 42 billion by FY22F. India needs Rs 235 trillion (US$ 3.36 trillion) of investment in infrastructure in the next decade. The export of engineering goods is expected to reach US$ 200 billion by 2030.

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Source: PR News Wire, Livemint, Economic Times, Cue Report, IBEF

FINANCIAL OVERVIEW

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Standalone Income Statem e nt
Particulars (INR Mn) FY18 FY19 FY20 Q1-FY21
Operational Income 3,587 4,987 4,824 1,053
Total Expenses 3,585 4,290 4,111 895
EBITDA 2 697 713 158
EBITDA Margins (%) 0.06% 13.98% 14.78% 15.00%
Other Income 76 38 43 8
Depreciation 120 121 132 38
Finance Cost 150 268 277 55
- - -
Exceptional Items 329
PBT (192) 675 347 73
Tax 26 95 97 19
PAT (218) 580 250 54
PAT Margins (%) NA 11.63% 5.18% 5.13%
Diluted EPS (INR) (17.02) 45.00 19.42 4.21
27
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Standalone Balance Sheet
Particulars (INR Mn) FY19 FY20 Particulars (INR Mn) FY19 FY20
ASSETS EQUITY AND LIABILITIES
Non-Current Assets 2,039 2098 Equity 2,172 2,363
(a) Property, Plant & Equipment 972 1,116 Share Capital 129 129
(b) Capital Work in progress 71 14 Other Equity 2,043 2,234
(c) Goodwill on Consolidation 36 36 Non Current Liabilities 294 284
(d) Other Intangible Assets 17 54 (a) Financial Liabilities
(e) Right of use asset - 21 (i)Borrowings 238 197
(f) Intangible assets under development 30 - (ii)Other Financial Liabilities - 2
(g) Financial Assets (iii) Lease Liabilities - 24
(i) Investments 489 489
Government Grants 20 16
(ii) Long-term Loans and Advances 20 21
Net non-current employee defined
(iii) Other financial assets 261 259 37 45
benefit liabilities
(h) Deferred tax assets (net) 51 28
(i) Non-current tax assets (net) 34 34 Current Liabilities 4,128 3,714
(a) Financial Liabilities
(j) Other non-current assets 59 26
(i) Borrowings 1,626 1,494
Current Assets 4,556 4,264
(ii)Trade Payables 1,063 1,139
(a)Inventories 2,251 2,204
(iii)Other Financial Liabilities 313 271
(b) Financial Assets
-
(i)Investments - (iv) Lease Liabilities 6
(ii)Trade Receivables 1,863 1,700 (b) Government Grants 5 4
(iii)Cash and Cash Equivalents 45 55 (c) Other current Liabilities 959 683
(iv)Bank balances other than above 118 97 (d) Net current employee defined 6 6
benefit liabilities
(v) Others current financial assets 125 77
(c) Other Current Assets 154 131 Provisions 16 35
(d) Assets classified as held for sale Liabilities for current tax (net) 142 77
TOTAL ASSETS 6,595 6,362 TOTAL EQUITY AND LIABILITIES 6,595 6,362
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Consolidated Income State m ent
Particulars (INR Mn) FY18 FY19 FY20 Q1-FY21
Operational Revenue 7,811 9,304 8,833 1,897
Total Expenses 7,412 8,267 7,852 1,716
EBITDA 399 1,037 981 181
EBITDA Margin (%) 5.11% 11.15% 11.11% 9.54%
Other Income 130 71 153 27
Depreciation 282 278 414 108
Finance Cost 218 349 368 79
-
Share of profit / (losses) of associates and JV from continuing operation (10) (13) (5)
- - -
Exceptional Item (105)
PBT 19 468 242 21
Tax 9.81 (3) 74 30
PAT from continuing operations 9 471 168 (9)
PAT Margin (%) 0.12% 5.06% 1.90% NA
Diluted EPS from continuing operations (INR) (7.32) 30.51 15.74 1.51
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Consolidated Balance Shee t
Particulars (INR Mn) FY19 FY20 Particulars (INR Mn) FY19 FY20
ASSETS EQUITY AND LIABILITIES
(1) Non-current assets 2,981 3,759 (1) Equity 2,437 2,300
(a) Property, Plant and Equipment 1,130 1,253 (a) Equity share capital 129 129
(b) Other equity 2,061 1,923
(b) Capital work-in-progress 81 14
Equity attributable to equity holders of the
(c) Goodwill on consolidation 376 376 2,190 2,051
parent
(d) Other Intangible assets 541 479 Non-controlling interests 247 248
(e) Right of use asset - 457 (2) Non-current liabilities 1,137 1,281
(f) Intangible assets under development 57 101 (a) Financial liabilities
(g) Financial assets (i) Borrowings 862 696
(i) Investment in joint ventures and associates 100 387 (ii) Other non-current financial liabilities - 2
(ii) Other Investments 21 14 (iii) Lease Liabilities - 374
(iii) Loans 50 61 (b) Deferred tax liabilities (net) 114 92
(c) Net non-current employee defined benefit
(iv) Other non current financial assets 479 527 37 46
liabilities
(g) Deferred tax assets (net) 51 30
(d) Provisions 104 54
(h) Non-current tax assets (net) 34 34 (e) Government Grants 20 16
(i) Other non-current assets 60 27 (3) Current liabilities 7,387 7,191
(2) Current assets 7,981 7,013 (a) Financial liabilities
Inventories 2,369 2,358 (i) Borrowings 2,285 2,025
(b) Financial assets (ii) Trade payables 1,447 1,783
(i) Trade receivables 2,743 2,489 (iii) Other current financial liabilities 1,153 1,666
(iv) Lease Liabilities - 103
(ii) Cash and cash equivalents 173 136
(b) Other current liabilities 1,676 1,468
(iii) Bank balances other than cash and cash
119 97 (c) Government Grants 4 4
equivalents
(iv) Loans - - (c) Net employee defined benefit liabilities 6 6
(d) Provisions 17 58
(v) Other current financial assets 979 1,609 (e) Liabilities for current tax (net) 142 77
(c) Other current assets 335 323
(3) Assets classified as held for disposal 1,262 - (4) Liabilities directly associated with assets classified as held for disposal 658 -
Total assets (1+2+3) 10,961 10,772 Total equity and liabilities (1+2+3+4) 10,961 10,772
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Consolidated Financial High ~~l~~ ights

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Operational Revenue EBITDA & EBITDA Margin (%)
PAT & PAT Margin (%)
9,304
8,833 1200 14.00%
7,032 7,811 * 11.62% 1000 11.16% 11.11% 12.00% 500450 6.23% 5.31% 7.00%6.00%
400
10.00% 5.06%
800 7.94% 350 5.00%
8.00% 300
4.00%
4,144 600 5.11% 250
400 1,038 981 6.00% 200 1.90% 3.00%
4.00% 150 374 2.00%
558 100
200 481 399 2.00% 50 258 9 471 168 1.00%
0 0.00% 0 0.12% 0.00%
FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20
EBITDA EBITDA Margin (%) PAT PAT Margin (%)
YOY absolute growth not applicable due to
sale of subsidiary PAT from continuing operations
Net Working Capital Days Debt to Equity ROCE
135 135 1.63 14.26%
113
100 1.29 1.18 11.17%
1.07 10.14%
76 11.93%
0.44
2.01%
FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20
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Capital Market Data
Stock Market Performance (as on 30th June, 2020)
10%
0%
-10%
-20%
-30%
-40%
-50%
-60%
-70%
-80%
Jul/19 Aug/19 Sep/19 Oct/19 Nov/19 Dec/19 Jan/20 Feb/20 Mar/20 Apr/20 May/20 Jun/20
Centum Elec Sensex
Shareholding Pattern (as on 30th June, 2020)
Price Data (As on 30 [th] June 2020)
DII
CMP 297.25
7%
52 Week H/L 575.00/180.00
Avg Vol ('000) 975.56 Public
Promoter
34%
59%
Avg turnover (Mn) 2.18
Market Capital (INR Mn) 3,830.00
Total outstanding shares (Mn) 12.88
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Disclaimer

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Centum Electronics Limited

No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such information and opinions are in all events not current after the date of this presentation. Certain statements made in this presentation may not be based on historical information or facts and may be "forward looking statements" based on the currently held beliefs and assumptions of the management of Centum Electronics Limited (“Company” or “Centum”), which are expressed in good faith and in their opinion reasonable, including those relating to the Company’s general business plans and strategy, its future financial condition and growth prospects and future developments in its industry and its competitive and regulatory environment.

Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance or achievements of the Company or industry results to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements, including future changes or developments in the Company’s business, its competitive environment and political, economic, legal and social conditions. Further, past performance is not necessarily indicative of future results. Given these risks, uncertainties and other factors, viewers of this presentation are cautioned not to place undue reliance on these forward-looking statements. The Company disclaims any obligation to update these forward-looking statements to reflect future events or developments.

This presentation is for general information purposes only, without regard to any specific objectives, financial situations or informational needs of any particular person. This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration there from.

This presentation is confidential and may not be copied or disseminated, in whole or in part, and in any manner.

Valorem Advisors Disclaimer:

Valorem Advisors is an Independent Investor Relations Management Service company. This Presentation has been prepared by Valorem Advisors based on information and data which the Company considers reliable, but Valorem Advisors and 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. Valorem Advisors also hereby certifies that the directors or employees of Valorem Advisors do not own any stock in personal or company capacity of the Company under review.

For further information please contact our Investor Relations Representative:

Mr. Anuj Sonpal Valorem Advisors Tel: +91-22-4903-9500 Email: centum@valoremadvisors.com Investor Kit Link: http://valoremadvisors.com/centum/

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33