Nitiraj Engineers Limited — Interim / Quarterly Report 2025

Aug 16, 2024

Date -16/08/2024

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To The Manager Listing & Compliance Department, National Stock Exchange of India limited Exchange Plaza, 5Th Floor, Plot No C/1, G Block , Bandra-Kurla Complex, Bandra, Mumbai-400051

(Company ID: NITIRAJ ISIN: INE439T01012)

Sub: Investors Press Release for the Financial Results of the Company for Q1FY25 ended 30[th] June 2024

Dear Sir/Madam,

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we are enclosing herewith a Press Release for the Financial Results of the Company for the Q1’FY25 ended 30[th] June 2024.

This is for the information of the Exchange and the Members.

Thanking You, NITIRAJ ENGINEERS LIMITED

Deepika Digitally signed by Deepika Amit Amit Dalmiya Date: 2024.08.16 Dalmiya 13:09:57 +05'30'

DEEPIKA DALMIYA Company Secretary & Compliance Officer M.NO: A58029

Enclose: As Above

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Result Highlights Q1FY25

Financial Performance

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Management Comments:

Q1 FY25 presented challenges for our performance, primarily due to two significant factors. First, the election period led to the suspension of tenders and orders, creating a temporary slowdown in our business activities. Second, our ongoing factory expansion efforts required substantial resources and focus, which, while crucial for our long-term growth, also impacted our short-term performance. Also first quarter for us is always lean due to lower institutional demand.

However, despite these hurdles, we achieved notable operational milestones. One of the key highlights was the successful launch of our new product in the security and automation sector: the GSM Shutter Alarm. This innovative device is designed to enhance security by triggering an alarm and automatically placing phone calls to pre-saved numbers if any attempt is made to open the shutter. The trials for this product were highly successful, indicating strong potential for its market adoption.

In addition to the GSM Shutter Alarm, we made significant advancements in our drone technology. We successfully manufactured two drones and conducted field trials, both of which yielded positive results. These drones represent a strategic step forward in our technological capabilities and position us well in a rapidly growing market.

Moreover, our international endeavors are showing promise, particularly with our projects in Germany, which are progressing steadily through the pipeline. These projects are expected to open new avenues for growth and further establish our presence in the global market.

Overall, while Q1 FY25 posed certain challenges, our operational achievements have laid a solid foundation for future growth. We remain optimistic about overcoming the short-term obstacles and are confident in our strategic direction moving forward.

About Ni�raj Engineers:

• We are one of the leading manufacturers of Electronic Weighing Scales and Systems.

• Established in 1989, PHOENIX, our brand is renowned in Electronic Weighing industry in India.

• We also manufacture Currency Counting Machines and a range of Security & Automation Products for homes hotels and offices.

• Installations across 5 countries Middle East, SAARC and African Countries.

• 20 branches across Maharashtra, Odisha and Chhattisgarh

• About 400 dealer network across India

• At present, our company produces more than 100,000 scales per year. Above 250 professionals are working with the company. We have more than 10,00,000 satisfied customers in the country.

Our Products

1. Electronic Weighing Scale

Weighing scale plays mandatory and important role in day-to-day life. Weighing solu�ons star�ng from milligrams to tons including:

• Person weighing scales

• Jewellery scales with 10 mg accuracy

• Tabletop scales upto 30 kg capacity

• Platform scales upto 5-ton capacity

• Crane scales upto 20-ton capacity

• Weigh bridge upto 100-ton capacity are demanded from market.

Target Market includes Jewellers, homes, retailers, wholesalers, hospitals and health centers, post offices, banks and paper industries, logis�cs, dairies, mills and industries, building and construc�on, Government segment form major part of market.

2. Currency Coun�ng Machines

• Cash counting and counterfeit note detection is process widely required with high speed and accuracy

• PLNC 3|4 – Currency counting machine with counterfeit note detection

• PVC-101 – Mix note value counter with counterfeit note detection are demanded from market.

Target Market includes; Banks, Jewelers, Retailers and Wholesalers, Commercial establishments, Government segments: post offices, railways, Petrol pumps, hospitals and others

3. Security and Automa�on

• This segment includes products such as Access control system, video door phones, audio door phones and remote locks for home security and convenience.

• Wired as well as wireless models are available.

• Hotel RFID locks, Room number plates and power saving switches.

Target Market for this segment is Hotels, Home and Offices.

Both commercial and residen�al real estate are high in demand.

We expect to launch new products in this segment, prototyping is already done.

Key Developments

 We manufactured two drones and successfully completed field trial. Project pipeline is progressing.

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• Manufactured prototypes for German market and developments are progressing.

 Successful launch of our new product in the security and automa�on sector: the GSM Shu�er Alarm. This innova�ve device is designed to enhance security by triggering an alarm and automa�cally placing phone calls to pre-saved numbers if any a�empt is made to open the shu�er.

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Way Forward

• We expect 20-25% cagr growth in next 3-5 years across all our business segments.

• Capex: Every year 3-4 crores towards maintenance and advancements.

• 5-6 New Product Launches every year.

Disclaimer: Certain statements in this document that are not historical facts are forward looking statements. Such forward-looking statements are subject to certain risks and uncertainties like government actions, local, political or economic developments, technological risks, and many other factors that could cause actual results to differ materially from those contemplated by the relevant forward-looking statements. Nitiraj Engineers Ltd. will not be in any way responsible for any action taken based on such statements and undertakes no obligation to publicly update these forward-looking statements to reflect subsequent events or circumstances.