KDDL Ltd — Investor Presentation 2025

Feb 15, 2025

KDDL Limited

Kamla Centre, SCO 88-89, Sector 8-C, Chandigarh - 160 009, INDIA. Tel: +91 172 2548223/24, 2544378/79 Fax: +91 172 2548302, Website:www.kddl.com ;CIN-L33302HP1981PLC008123

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Ref: KDDL/CS/2024-25/92 Date: 15[th] February, 2025

National Stock Exchange of India Limited Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra, Mumbai - 400 051

BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400001

Trading Symbol : KDDL

Scrip Code : 532054

Subject: Investor Presentation

Dear Sir/ Madam,

Please find enclosed Investor Presentation for Q3 & 9MFY25 .

Kindly take the same on record.

Thanking you,

Yours truly

For KDDL Limited

Sanjeev Kumar Digitally signed by Sanjeev Kumar Masown Masown Date: 2025.02.15 17:22:20 +05'30'

Sanjeev Kumar Masown Whole time Director cum Chief Financial Officer DIN: 03542390

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KDDL Limited

Investor Presentation February’ 25

Safe Harbor

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

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

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

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Q3 & 9MFY25 Performance Overview

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Key Highlights

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01 The slowdown in the export market for watch components continues, with a revival expected in H2FY26

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02 Commercial production of the Packaging Unit commenced in Q3FY25

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03 The Bracelet division has shown encouraging performance and is expected to improve further

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04 Precision engineering revenue accounted for 40% in Q3FY25 and 38% in 9MFY25

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05 The expansion of the Precision Engineering division is planned in FY26

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Q3FY25 Performance

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KDDL Standalone Performance (Rs. Crs.)

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Total Income PAT
99.0
85.4 16.1
13.2
Q3FY24 Q3FY25 Q3FY24 Q3FY25
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KDDL Consolidated Performance (Rs. Crs.)

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Total Income PAT
483.3 47.2
379.7 37.1
Q3FY24 Q3FY25 Q3FY24 Q3FY25
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*Includes Other Income

9MFY25 Performance

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KDDL Standalone Performance (Rs. Crs.)

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Total Income
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270.9 281.4
9MFY24 9MFY25
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PAT
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43.5
41.0
9MFY24 9MFY25
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KDDL Consolidated Performance (Rs. Crs.)

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Total Income
1,263.5
1,062.8
9MFY24 9MFY25
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PAT
110.7
102.6
9MFY24 9MFY25
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*Includes Other Income

Standalone Profit & Loss

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Profit & Loss (Rs. Crs.)	Q3FY25	Q3FY24	YoY%	9MFY25	9MFY24	YoY%
Revenue	97.2	81.1	20%	270.7	262.6	3%
Other Income	1.8	4.2		10.7	8.2
Total Income	99.0	85.3	16%	281.37	270.87	4%
Cost of Goods Sold	22.3	18.7		65.9	61.9
Gross Profit	76.7	66.6	15%	215.5	209.0	3%
Employee Expenses	25.5	22.8		71.8	70.9
Other Expenses	27.2	20.5		74.6	62.7
EBITDA	24.0	23.3	3%	69.0	75.5	-9%
Margin (%)	24.2%	27.3%		24.5%	27.9%
Interest	3.4	2.2		8.1	6.8
Depreciation	6.1	3.5		13.3	10.4
PBT	14.5	17.6	-18%	47.6	58.2	-18%
Tax	-1.7	4.5		6.7	14.8
PAT	16.1	13.2	23%	41.0	43.5	-6%

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Consolidated Profit & Loss

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Profit & Loss (Rs. Crs.)	Q3FY25	Q3FY24	YoY%	9MFY25	9MFY24	YoY%
Revenue	472.0	372.2	27%	1,228.3	1,043.4	18%
Other Income	11.3	7.5		35.2	19.4
Total Income	483.28	379.66	27%	1,263.5	1,062.8	19%
Cost of Goods Sold	284.9	219.8		732.1	594.2
Gross Profit	198.3	159.9	24%	531.4	468.6	13%
Employee Expenses	53.5	46.0		150.3	139.7
Other Expenses	55.7	40.7		150.1	122.2
EBITDA	89.2	73.2	22%	231.0	206.7	12%
Margin (%)	18.4%	19.3%		18.3%	19.4%
Interest	8.9	6.4		23.4	20.0
Depreciation	24.0	16.6		62.3	48.1
Share of Profit / (Loss) of equity accounted investees	0.4	0.1		0.1	0.6
PBT	56.7	50.4	13%	145.6	139.3	5%
Tax	9.6	13.3		34.8	36.6
PAT	47.2	37.1	27%	110.7	102.6	8%
OCI / (Expense)	-1.7	1.4		0.3	0.3
Total Comprehensive Income	45.5	38.5		111.1	103.0
Minority Interest	14.8	12.0		36.5	26.2
PAT After Minority Interest	30.7	26.5	16%	74.6	76.8	-3%

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Manufacturing Business Overview

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Watch Component Business

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	Watch Dials Watch Hands ▪ Commercial operations began in 1983 ▪ Leading Global supplier of Watch Dial serving many well-known brands all over the world ▪ Manufacturing facilities located at Parwanoo & Derabassi, near Chandigarh in India ▪ Capability to manufacture dials with high & complex features ▪ Commercial operations began in 1996 ▪ Only supplier in India and one of 5 independent manufacturers globally; facilities located at Bengaluru ▪ Acquired Estima AG in Switzerland; to enhance presence in mid-priced segment European Brands ▪ ▪ ▪ ▪	Watch Dials Watch Hands ▪ Commercial operations began in 1983 ▪ Leading Global supplier of Watch Dial serving many well-known brands all over the world ▪ Manufacturing facilities located at Parwanoo & Derabassi, near Chandigarh in India ▪ Capability to manufacture dials with high & complex features ▪ Commercial operations began in 1996 ▪ Only supplier in India and one of 5 independent manufacturers globally; facilities located at Bengaluru ▪ Acquired Estima AG in Switzerland; to enhance presence in mid-priced segment European Brands ▪ ▪ ▪ ▪	Steel Bracelets Value Proposition ▪ Deep Understanding of the Global Watch Industry ▪ Established relationships with Swiss Watch makers as well as Indian Watch makers ▪ Consistent Manufacturing meeting International Quality norms Commercial operations began in 2024 in Bengaluru Plant is dedicated to supplying high-quality steel bracelets to the mid- and high-end Swiss and European watch markets Incurred Capex of Rs 44 cr with a capacity of 75,000 units P.A. Designed specifically for the needs of international Swiss customers, India's first steel bracelet factory of its kind	Steel Bracelets Value Proposition ▪ Deep Understanding of the Global Watch Industry ▪ Established relationships with Swiss Watch makers as well as Indian Watch makers ▪ Consistent Manufacturing meeting International Quality norms Commercial operations began in 2024 in Bengaluru Plant is dedicated to supplying high-quality steel bracelets to the mid- and high-end Swiss and European watch markets Incurred Capex of Rs 44 cr with a capacity of 75,000 units P.A. Designed specifically for the needs of international Swiss customers, India's first steel bracelet factory of its kind
	Watch Dials ▪ Commercial operations began in 1983 ▪ Leading Global supplier of Watch Dial serving many well-known brands all over the world ▪ Manufacturing facilities located at Parwanoo & Derabassi, near Chandigarh in India ▪ Capability to manufacture dials with high & complex features		Steel Bracelets Commercial operations began in 2024 in Bengaluru Plant is dedicated to supplying high-quality steel bracelets to the mid- and high-end Swiss and European watch markets Incurred Capex of Rs 44 cr with a capacity of 75,000 units P.A. Designed specifically for the needs of international Swiss customers, India's first steel bracelet factory of its kind	Value Proposition
		▪ ▪ ▪ ▪		▪ Deep Understanding of the Global Watch Industry ▪ Established relationships with Swiss Watch makers as well as Indian Watch makers ▪ Consistent Manufacturing meeting International Quality norms

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Precision Engineering Business

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Eigen offers a full package of services, ranging from design and development to full scale production, providing customers with optimized supply chain solutions

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Value Proposition
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We address various segments such as Electrical, Electronics, Automobile, Telecommunications, medical equipment, Aerospace, Consumer Durables etc

Capabilities

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Customers
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Enabling our customers to meet their design and production needs for over 12 years. We have some of the most well-known names in their industry as our esteemed customers

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Manufacturing Performance - Standalone

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Revenue (Rs. Crs.) EBITDA (Rs. Crs.)
351 103
+18% 305
271 80
+35%
69
218
181
147
41
31
25
FY20 FY21 FY22 FY23 FY24 9MFY25 FY20 FY21 FY22 FY23 FY24 9MFY25
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FY22 Financials are adjusted and includes the impact of merger of Satva Jewellery and Design Limited with KDDL Limited FY21 Financials were adversely affected by the COVID-19 pandemic and may not be strictly comparable with previous periods

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Ethos - Consolidated Profit & Loss

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Profit and Loss (in Rs. Crs)	Q3FY25	Q3FY24	YoY	9MFY25	9MFY24	YoY
Revenue from Operations	369.9	281.2	31.5%	940.3	746.5	26.0%
Other Income	5.8	6.2		18.3	15.2
Total Income	375.7	287.5		958.6	761.7
Cost of Goods Sold	262.1	197.4		661.9	519.5
Gross Profit (Revenue - COGS)	107.8	83.8	28.6%	278.4	227.0	22.6%
Gross Profit Margin	29.1%	29.8%		29.6%	30.4%
Employee Cost	24.4	16.3		64.0	51.0
Other Expenses	26.4	22.9		71.9	60.3
EBITDA	62.8	50.8	23.6%	160.7	130.9	22.8%
EBITDA Margin	16.7%	17.7%		16.8%	17.2%
Depreciation	16.8	12.5		46.1	35.9
EBIT	46.0	38.3	20.1%	114.6	95.0	20.6%
EBIT Margin	12.2%	13.3%		12.0%	12.5%
Finance Cost	5.2	4.0		14.2	12.0
Share in Profit/(loss) in JV and Associates	-0.2	0.1		-0.5	0.6
PBT	40.6	34.3	18.0%	99.9	83.6	19.5%
PBT Margin	10.8%	11.9%		10.4%	11.0%
Tax	11.1	8.8		26.4	21.3
PAT	29.5	25.5	15.6%	73.5	62.3	18.0%
PAT Margin	7.8%	8.9%		7.7%	8.2%

For Ethos updates – Please refer to the presentation uploaded to stock exchanges by Ethos Limited

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For further information, please contact:

Company : Investor Relations Advisors : KDDL Limited CIN : L33302HP1981PLC008123 CIN : U74140MH2010PTC204285 Sanjeev Masown, CFO – KDDL Shogun Jain/ Mandar Chavan sanjeev.masown@kddl.com +91 77383 77756 / +91 96993 82195 shogun.jain@sgapl.net / mandar.chavan@sgapl.net www.kddl.com www.sgapl.net

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