Salasar Techno Engineering Limited — Earnings Release 2025

Feb 14, 2025

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Salasar Techno Engineering Limited

Date: 14.02.2025

To,

The Manager – Listing The Secretary National Stock Exchange of India Ltd. Exchange Plaza, Corporate Relationship Dept. Bandra Kurla Complex Bandra East BSE Limited Mumbai – 400051 P. J. Tower, Dalal Street, Symbol - SALASAR Mumbai – 400001 Scrip Code: 540642

SUB: Press Release on Financial Results for Q3 FY25

Dear Sir/ Madam,

With reference to the captioned subject and in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, we would like to inform you that M/s Salasar Techno Engineering Limited has issued a press release today concerning the Financial Results of the Company for Q3 FY 2025.

A copy of Press Release issued by the Company is attached hereto for your kind perusal.

You are requested to kindly take the same on record.

Yours faithfully, For Salasar Techno Engineering Limited

MOHIT Digitally signed by KUMAR MOHIT KUMAR GOEL Date: 2025.02.14 GOEL 18:08:42 +05'30'

Mohit Kumar Goel Company Secretary & Compliance Officer

CIN No. - L23201UP2001PLC209751

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Regd. Off. & Unit 1- Khasra 265, 281-288, Parsaun-Dasna, Jindal Nagar, Distt. Hapur201015

Unit 2- Khasra 1184, 1185, Khera, Pilkhuwa, Tehsil Dhaulana, Distt. Hapur-245304

+91 8938802180, 7351991000

+91 120 6546670 Fax: +91 11 45823834

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Unit 3- Khasra 686/6, Khera, Pilkhuwa, Tehsil Dhaulana, Distt. Hapur-245304 Office- KL-46, Kavi Nagar, Ghaziabad-201002 www.salasartechno.com

towers@salasartechno.com marketing@salasartechno.com

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EARNING RELEASE Q3 & 9M FY25 th 14 February 2025

BSE : 540642 | NSE : SALASAR

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Shaping The Future Of Infrastructure With Dependable Solutions That Are Built To Last

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TABLE OF CONTENTS

Who We Are Business Verticals Our Two Business Segments - Manufacturing & EPC Clientele We Occupy A Distinct Position Order Book Position & Composition Segment Revenue Breakup

Key Financial Highlights Management Commentary Management Guidance

Who We Are

• Salasar Techno Engineering Limited was incorporated in 2001, & in 2006, Mr. Alok Kumar & Mr Shashank Agarwal started the company's Telecom Tower business. Since then, the company has emerged as a prominent player in the Industry.

• In the Manufacturing segment, we manufacture & supply galvanized & non-galvanized steel structures (Towers) for critical applications, including power transmission, telecom towers, & railway electrification. We also manufacture & supply heavy steel structure such as bridge etc.

• In the EPC sector, we delve into the business of Power Distribution, EHV Power Transmission Lines & Substations, Railway Overhead Electrification & Railway Track Laying.

• EPC services are provided in the states Delhi, Haryana, Uttar Pradesh, Jharkhand, Himachal Pradesh, Assam, Gujarat, Rajasthan, Bihar, Orissa, Uttarakhand, Arunachal Pradesh and Tamil Nadu etc.

• We boast of a dedicated team that covers the entire lifecycle right from Design, Manufacture, Installation & Commissioning of projects. We also offer customized solutions as per customer needs.

• We successfully completed approximately 921.77 kilometers of power transmission lines & 743 kilometers of railway track.

Business Verticals

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Telecom
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Power
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Renewable
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Heavy Structural
Poles Divisions
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Smart City
Solutions
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Specializing in both galvanized and non-galvanized steel structures, the company delivers a diverse array of infrastructure solutions. We also provide services of contractual galvanising for various leading companies like Immadi E- commerce, Zetwerk etc.

Our Two Business SegmentsManufacturing & EPC

Manufacturing

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Telecom

Telecom Towers & Poles Cell on Wheels Accessories

Railway Overhead

Portals Masts,

Special Fabricated Masts Bridge Masts, DFCC Structures Small Parts Steel

Wind

Windmill Towers

Power

Transmission Line Towers Substation Structures Transmission Line Monopoles

Solar

Module Mounting Structures

Solar Trees Solar Water Pumps Solar Street Light Poles

Heavy Steel Structures

Over Bridges

Heavy & Complex Structures Light BuildingStructures Pre Engineered Buildings

Engineering Procurement & Construction (EPC)

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Power Distribution Lines

Design, Supply, Erection, Testing, & Commissioning of Distribution Lines of 11kV and 33kV, LT Lines,

• & Trans-formers including

transformer augmentation, feeder segregation, and RDSs works as per government schemes

SubStation

Design, Supply, Erection, Testing & Commissioning of EHV and Grid Substa-tions of 66kV, 132kV, 220kV, 400kV, and 765kV

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Power Transmission

Design, Supply, Erection, Testing & Commissioning of Power Transmission Lines of 66kV, 132kV, 220 kV, 400kV, and 765kV

Railway Electrification

Design, Supply, Erection, Testing & Commissioning of 25 KV, 50 Hz, Single Phase, AC, Electrification including normal Height OHE, High Rise OHE and TSS works

Clientele

Telecom Sector

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Power Sector

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Other / EPC

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Overseas Clients

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We Occupy A Distinct Position

1. Forward Integrated.

2. Hold Sizeable Position in Monopoles

Monopoles, previously popular only in the US and Europe, are gaining traction in India due to their advantages over lattice towers, including reduced space requirements, faster erection, and shorter delivery times.

Their smaller base installation makes them an eco-friendly option, even for high-rise poles of 40 to 50 meters.

The Company is well-positioned to become the preferred partner for both national and international clients.

3. Largest Galvanised Plant in Asia.

4. Strategic Collaboration With Romboll.

5. Robust Order Book Size as on 31st Dec 2024 stood at INR 21,979.7 Mn.

6. Significant Success Rate in Tender Participation.

7. Upgradation in Credit Rating

Infomerics Valuation and Ratings Pvt. Ltd. has upgraded the rating of the Company’s Long-Term Bank Facilities from "IVR A/Stable" to "IVR A/Positive.

8. Inhouse Design Capabilities.

9. Diversification in Geography, Clients & Sectors.

10. The Shortest Delivery Windows in the Industry.

11. STEL’s dedication to excellence in its framework and implementation has garnered several international accolades and certifications, including ISO 45001:2018 for Occupational Health and Safety Management Systems, ISO 14001:2015 for Environmental Management Systems, and ISO 9001:2015 for Quality Management Systems.

12. Certified by CORE and is an approved vendor of PowerGrid Corporation Limited.

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Order Book Position & Composition

As of 31st Dec 2024, STEL has a strong diversified order book worth Rs. 21,979.7 Mn. providing strong revenue visibility.

As of 31st Dec 2024, STEL has a strong diversifed order book worthRs. providing strong revenue visibility.	21,979.7 Mn.
	*(Rs. In Mn)
Particulars	*Value
Domestic EPC Orders	18,229.2
International EPC Orders	2,406.0
Manufacturing Orders Outstanding Under New Heavy Steel Structure Plant	399.7
Monopoles Orders In Hand	393.2
Exports Order In Hand (Telecom Towers And Poles Etc)	551.6
Total Orders As On 31st Dec 2024	21,979.7
Over and above the current order book, STEL has regular monthly orders of telecom towers
worth ~Rs. 300 to 350 Mn.

Segmental Revenue Breakup

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7%
22%
9MFY24
71%
4%
35%
9MFY25
61%
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Steel Structures EPC from Power Transmission

EPC from Railways

Steel Structures EPC from Power Transmission

EPC from Railways

(Rs. In Mn)

Key Financial Metrics

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Revenue from Opera�ons
3,751.8
3,038.8
2,814.9
23.5% 33.3%
YoY QoQ
Q3 FY24 Q2 FY25 Q3 FY25
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EBITDA
374.6
317.2
256.6
Q3 FY24 Q2 FY25 Q3 FY25
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PAT
167.6
119.4
96.8
Q3 FY24 Q2 FY25 Q3 FY25
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Revenue from Opera�ons
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9,506.7
8,411.0
13.0%
YoY
9M FY24 9M FY25
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EBITDA
859.6
855.7
9M FY24 9M FY25
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PAT
359.6
321.1
9M FY24 9M FY25
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*EBITDA Excluding Other Income

Consolidated Income Statement:

Particulars (Rs. In Mn)	Q3FY25	Q3FY24	YoY (%)	Q2FY25	9MFY25	9MFY24	YoY (%)
Revenue from Operations	3,751.8	3,038.8	23.5%	2,814.9	9,506.7	8,411.0	13.0%
Other Income	7.1	4.6		17.4	33.5	12.7
Total Revenue	3,758.9	3043.5		2,832.3	9,540.2	8,423.7
Total Expenses Excluding Depreciation, Amortization, & Finance cost	3,434.7	2,664.2		2,558.3	8,651.0	7,551.4
*EBITDA	317.2	374.6		256.6	855.7	859.6
Depreciation & Amortization	30.9	28.0		30.6	91.6	73.2
Finance Cost	130.8	120.0		118.8	369.7	307.9
PBT	162.5	231.3		124.5	427.9	491.2
Tax Expense	43.1	63.7		27.7	106.8	131.6
PAT	119.4	167.6		96.8	321.1	359.6
Diluted EPS	0.07	0.11		0.06	0.19	0.23

*EBITDA Excluding Other Income.

Management Commentary:

We are pleased to present the consolidated financial and operational performance for the third quarter. These strong results reflect our ongoing focus on execution and strategic growth. During this period, our revenue increased by 23.5% to Rs 3,751.8 Mn in Q3 FY25, compared to Rs 3,038.8 Mn in Q3 FY24. This significant growth in our top line is attributed to the successful execution of our order book.

Moreover, our EBITDA for Q3 FY25 stood at Rs 317.2 Mn as compared to Rs 374.6 Mn in Q3 FY24. While, PAT for Q3FY5 was at Rs 119.4 Mn as compared to Rs 167.6 Mn Q3FY24.

For 9M FY25, revenue grew by 13.0% to Rs 9,506.7 Mn, compared to Rs 8,411.0 Mn in 9MFY24. EBITDA stood at Rs 855.7 Mn in 9MFY25 as compared to Rs 859.6 Mn in Q3FY24. While, PAT for 9MFY25 was at Rs 321.1 Mn as compared to Rs 359.6 Mn in 9MFY24.

Additionally, the acquisition with EMC limited approved by National Company Law Tribunal (NCLT), significantly enhances our position in the EPC sector, leveraging EMC's expertise in handling complex projects and expanding our operational capacity. The inclusion of EMC's prime properties and its solar power plant, supported by a Power Purchase Agreement with NTPC, provides us with valuable strategic assets and a reliable income stream from renewable energy. This move not only strengthens our market reach and operational capabilities but also boosts our financial stability, positioning us for continued growth and success in the competitive EPC landscape.

In addition to the acquisition, we are also excited about the strategic merger with Hill View Infrabuild, which aligns with our vision for the future. This merger is designed to streamline operations, consolidate resources, and expand technical expertise, enabling us to undertake larger, more ambitious projects in the engineering and infrastructure sectors. By reinforcing financial stability and broadening our capabilities, we are positioning ourselves for sustained success in the evolving EPC landscape.

On the industry front , the transmission and distribution infrastructure sector is experiencing unprecedented growth, fueled by renewable energy investments and the ambitious National Electricity Plan (NEP) . We are uniquely poised to lead the charge in revolutionizing energy networks, with our expertise in designing, fabricating, and deploying cutting-edge power transmission towers and EPC solutions. From cross-border interconnections to advanced technologies like hybrid substations and dynamic line rating, our innovative approach and end-to-end capabilities align perfectly with the industry’s evolving demands. As rural electrification and green energy projects gain momentum, we stand ready to shape the future of sustainable infrastructure, driving growth and market leadership

Looking ahead, we remain steadfast in our commitment to delivering exceptional engineering and construction solutions to our customers while fostering sustainable growth for our stakeholders. We will continue to invest in our network, technology, and explore new opportunities for growth and innovation. We would like to express our sincere gratitude to our entire team for their unwavering dedication and support, standing tall with us through every challenge. Together, we look forward to achieving even greater success and driving a lasting impact in the industry.

Management Guidance:

Revenue Growth:

We anticipate that our topline and bottom line will grow at a CAGR of at least 20% over the next few years, supported by a healthy order book.

Order Book:

Looking ahead, we are optimistic about the future, bolstered by a strong order book worth Rs 21,979.7 Mn. We are actively working to participate in orders within the EPC business, where we see opportunities for improved margin.

Debt Reduction:

In accordance with the long-term debt repayment schedule, we will fulfill our debt obligation. Accordingly, this will significantly reduce our debt and further strengthen our financial position.

Disclaimer:

Certain statements in this document may be 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 our actual results to differ materially from those contemplated by the relevant forward-looking statements. Salasar Techno Engineering Limited 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 circumstance.

Contact Details:

Pramod Kala (CFO) Salasar Techno Engineering Ltd. Email: compliance@salasartechno.com Contact: +91 9810300655

Contact Details:

Krunal Shah | Vinayak Shirodkar Captive IR Strategic Advisors Pvt. Ltd. Email: krunal@cap-ir.com vinayak@cap-ir.com Contact: +91 8828297287