TD Power Systems Ltd — Investor Presentation 2021

May 19, 2021

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TD Power Systems Limited

(CIN -L31103KA1999PLC025071)

REGISTERED OFFICE & FACTORY: 27, 28 and 29, KIADB Industrial Area Dabaspet, Nelamangala Taluk Bengaluru Rural District Bengaluru 562 111 India

Tel +91 80 229 95700 / 6633 7700 Fax +91 80 7734439 / 2299 5718 Mail tdps@tdps.co.in

May 19, 2021

www.tdps.co.in

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

Sirs,

Sub: Investor Presentation for the period ended March 31, 2021

Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, a results presentation to analyst/investor for period ended March 31, 2021 is enclosed.

Kindly take the above on record.

Yours faithfully, For TD Power Systems Limited

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N Srivatsa

Company Secretary

Encl : A/a

TD POWER SYSTEMS LIMITED March 2021

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Company Presentation

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1

BUSINESS STRUCTURE

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Manufacturing
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Projects
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Manufacturer of AC Generators

(Up to 200 MW)

• Diversified portfolio customized for a wide range of turbines (steam, gas, hydro and wind) and engines (diesel and gas)

• Since inception, manufactured 4,822 generators, including generators exported to 73

• countries, with aggregate output capacity of 34,860 MW

• Three manufacturing facilities in Bangalore, backed by captive power/water supplies and a well-developed ancillary vendor network

• Sales through which are turbine and engine manufacturers; strong engineering consultant relationships allow deep involvement in project tendering

Projects business

(Turbine Generator Island projects of output capacity up to 52 MW)

• Steam turbine power plant projects combining generators with Japanese turbines

• Completed 110 TG island projects & 14 BTG projects with aggregate output capacity of 3,243 MW

• Projects executed in India, Uganda, Kenya, Zambia and the Philippines

2

STATE OF THE ART MANUFACTURING FACILITIES AND COST EFFICIENT PRODUCTION

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Manufacturing units with advanced machines help in delivering competitively priced products with the highest quality standards

ISO 9001:2008 compliant manufacturing units in Bangalore

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Unit I Factory

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Unit II Factory

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Unit I - 157,624 sq ft

Core building, Coil making, Winding & Machining Impregnation and curing Balancing Final assembly and testing Material Handling & General Facilities Power House R&D Centre Quality lab and instruments

Unit II 219,756 sq ft

Core building, Coil making, Winding & Machining Impregnation and curing Balancing Final assembly and testing Material Handling & General Facilities Power House R&D Centre Quality lab and instruments

2 Pole Factory / Large Generator Factory 78,449 sq ft

Core building, Coil making, & Winding Impregnation and curing Final assembly and testing Material Handling & General Facilities Power House (Common with Unit 2) R&D Centre (Common with Unit 2) Quality lab (Common with Unit 2) and instruments

2 Pole Factory / Large Generator Factory

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FINANCIALS

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Particulars (Rs Millions)	March 21	March 20
Total Income including exceptional income	6,101	5,421
EBITDA including exceptional income	825	604
Margins (%)	14%	11%
Depreciation	215	222
Interest	45	55
PBT	565	328
Tax	113	28
PAT	452	299
PAT after OCI	437	288

4

PENDING ORDER

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12,000 10,952 11,115
10,000
8,000
6,000
4,000
2,000
162
-
Manufacturing Projects Business Total
March 21 - Rs Millions 10,952 162 11,115
Domestic 1,235 162 1,398
-
Exports 1,054 1,054
-
Deemed Export 1,090 1,090
-
Domestic - Railways 6,857 6,857
-
Turkey 716 716
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5

REVENUE ANALYSIS

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8,000
7,148
6,921
7,000
6,000
5,000
4,000
3,000
2,000
1,000 226
-
Manufacturing Projects Business TOTAL
FY 21 9M - Rs Millions 6,921 226 7,148
Domestic 2,024 176 2,201
Exports 1,920 27 1,947
-
Deemed Export 909 909
Subsidaries 2,067 24 2,091
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• Prior to inter-segment and inter-company eliminations

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BUSINESS SEGMENT : MANUFACTURING

Business highlights

AC Generators for various applications

• One of the leading manufacturers of AC Generators in the range of 1 MW up to 200 MW for prime movers such as steam & gas, and upto 52 MW for hydro, wind turbines, diesel and gas engines.

• 4,822 generators supplied as of March 31, 2021 with an aggregate output capacity of over 34,860 MW in 73 Countries.

• Three manufacturing facilities in Bangalore equipped with the latest technology.

• Our generators are approved by leading engineering consultants.

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Turbines
Steam Gas Hydro Wind
Up to 200 MW Up to 20 Mw Horizontal - Up to 15 MW 3 MW
Vertical Up to 35 MW
Engines Locomotive
Diesel Gas Diesel
Up to 15 MW Up to 12MW Up to 3 MW
Special Applications Other Generators
For Motor /transformer testing Geo Thermal / Solar application
Customized
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Revenue Analysis FY 21 Consol Levels (Rs. 6,921 Mn)

Pending Order March 2021 (Rs. 10,952 Mn)

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Key Segment Financials (Rs Mn)
8,000 6,921 12%
7,000
11% 10%
6,000 5,647
5,000 4,729 8% 8%
4,252 8%
4,000 3,462 6%
5%
7%
3,000
4%
2,000
745 2%
1,000 245 229 373 471
- 0%
FY17 FY18 FY19 FY20 FY21
Revenue EBITD EBITD Margin
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Segmental revenues without inter-segment & inter-company elimination. Segmental Revenue & EBITD margins are on consol levels after adjusting income/ expenses of wholly owned subsidiary.

EBITDA Earnings Before Interest, Taxes, Depreciation, Amortization 7

BUSINESS SEGMENT : PROJECT BUSINESS

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Business highlights

TG Projects for steam turbine power plants with output capacity of up to 52 MW done under TD Power Systems Ltd

Executed 124 projects aggregating 3,243 MW in India and abroad (110 TG island projects and 14 BTG island projects) Experienced teams with established track record and reputation for efficient project management Power Projects order book as on March 31, 2021 stands at Rs. 162 Mn

TG Projects including Japan WOS - Key Segment Financials (Rs Mn)

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Segmental revenues without inter-segment elimination, including Japan subsidiary EBITDA Earnings Before Interest, Taxes, Depreciation, Amortization

Established track record of executing power projects

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FINANCIAL TRACK RECORD

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Segmental Revenues Consolidated (Rs Mn)
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Segmental revenues without inter-segment elimination

EBITDA Earnings Before Interest, Taxes, Depreciation, Amortization including Other Income

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FINANCIAL TRACK RECORD

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Segmental EBITDA Consolidated (Rs Mn)
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Segmental revenues without inter-segment elimination

EBITDA Earnings Before Interest, Taxes, Depreciation, Amortization including Other Income

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P & L SNAPSHOT

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			Consolidated
Rs Mn	FY 17	FY 18	FY 19	FY 20	FY 21
Sales	3,799	4,349	4,590	5,149	5,936
EBITDA	82	84	272	332	659
Depreciation (incl. Amortization)	279	271	260	222	215
EBIT	(196)	(187)	12	110	445
Other Income including Exceptional items	202	159	92	272	165
Interest and Finance Charges	41	67	28	55	45
PBT	(36)	(95)	75	328	565
Tax	8	49	43	28	116
Other Comprehensive Income	(2)	(2)	(3)	(11)	(12)
Restated PAT	(42)	(142)	29	289	437
Restated PAT	(42)	(142)	29	289	437
EBITDA margin (%)	2.17%	1.92%	5.9%	6.5%	11%
PAT margin (%)	(1.1%)	(3.3%)	0.6%	5.6%	7%

EBITDA Earnings Before Interest, Taxes, Depreciation, Amortization and Other Income

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BALANCE SHEET SNAPSHOT

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Rs Mn	Consolidated
	As on
	Mar-17 Mar-18 Mar-19 Mar-20 Mar-21
Source of Funds	5,271 5,274 4,845 4,992 5,290
Net Worth Minority Interest Borrowings Deferred Tax Liability	4,705 4,494 4,155 4,250 4,707 453 686 614 677 520 112 94 76 65 63
Uses of Funds	5,271 5,274 4,845 4,992 5,290
Gross Block Less :- Depreciation Net Block CWIP Investments Technical Knowhow Net Working Capital incl. cash Current Assets Inventories Sundry Debtors Cash and Bank Balances Loans & Advances Current Liabilities Provisions	3,691 3,732 3,826 3,847 3,957 1,382 1,634 1,865 2,065 2,258 2,309 2,098 1,961 1,782 1,700 7 6 15 6 6 100 199 199 25 35 17 19 40 2,931 3,135 2,752 2,985 3,345 5,112 4,946 5,388 5,568 5,904 800 817 1,126 1,444 1,888 1,605 1,851 2,287 1,728 1,618 2,146 1,684 1,289 1,582 1,643 560 594 686 813 755 2,106 1,742 2,569 2,506 2,481 74 68 67 77 78

EBITDA Earnings Before Interest, Taxes, Depreciation, Amortization and Other Income

12

SHAREHOLDING STRUCTURE

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Shareholding %

TDPS Stock Price Movement

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4.6% 300
Promoters
280
1.4% 260
240
Mutual Funds 220
19.7% 200
180
Foreign Institutional 160
140
Investors
120
2.7% Individuals 100
59.0% 80
60
12.6% 40
Corporate Bodies 20
8-Sep-11 19-May-21
Others
TD power BSE_SENSEX BSE_CG (S&P BSE Capital Goods)
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As on 31[st] Mar. 2021

1313

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THANK YOU

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