Emmforce Autotech Ltd
Investors Presentation
FY 2024-25
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INDEX
Index
Sr. No. Contents Slide No.
1 From Portfolio to Advantage: Building Growth 4-9
2 FY 2025 Executive Summary 10-13
3 Key Business Updates 14-15
4 Management Commentary 16
5 FY 2025 Financials Highlights 17-21
6 Way Forward 22-23
From Portfolio to Advantage: Building Growth
Product Portfolio
Rear Axle Shaft Front Axle Shaft Power Transmission Shaft Cardan Shaft
Double U Joint
Slip Yoke End Yoke Flange Yoke
From Portfolio to Advantage: Building Growth
Product Portfolio
Pump Locking Hubs / Free Wheel Hub Differential Housing Spindle
Gear Shift Tower Floater Hubs and Hub Part Grip Pro Locker Intermediate Shaft
From Portfolio to Advantage: Building Growth
New Product Portfolio
Forgings
Rotavator Blades
Rotavator
Our Esteemed Customers
From Portfolio to Advantage: Building Growth
Market Size Opportunity (2024–2030)
Product Category Market Size CAGR
Automotive Axles ~$811M (2024)→ $1.11 B (2030) ~4–5%
Driveshaft Components ~$31.2 B (2021) → $48.2 B (2030) ~4.96%
Hubs & Spindles ~$28 B (2024) → $40 B (2034) ~3.5%
Locking Hubs ~$2.1 B (2024) → $3.5 B (2033) ~5.8%
Farm Equipments ~$110 B (2024) → ~$190 B (2030) ~12.12%
Rotavator Blades ~$1.2 B (2024) → ~$2.5 B (2033) ~9.1%
Hydraulic Pumps ~$10.8 B (2023) → ~$14.5 B (2030) ~4.5%
From Portfolio to Advantage: Building Growth
Core Capabilities
Precision Engineering Excellence: OEM-grade standards with strict quality checks.
End-to-End In-House Capabilities: In-house R&D, 3-D Scanning, Benchmarking, Fully equipped state of the art
Metallurgical and Metrological lab,
In-house Forging, Machining, Gear Cutting, Broaching, Grinding, Heat Treatment,
Laser cutting, Hydraulic bending, Fabrication, Surface Treatment, Powder Coating,
Assembly, End of Line Testing, etc. For ensuring quality control, cost efficiency &
faster delivery.
Scalable Manufacturing: Modern CNCs, robotic cells and agile production lines capable of both high and low
volume batches.
Continuous R&D Focus: ~2% of annual revenue invested in R&D for product innovation & process efficiency.
EXECUTIVE SUMMARY
FY 2025 Standalone Financials
• Turnover growth of 6.30% year-on-year .
• EBITDA increased by 3.2% year-on-year, supported by continued focus on cost optimization, better product mix, and operational efficiencies.
• Profit After Tax recorded a strong increase of 13.9% in FY 2025, outpacing revenue and EBITDA growth reflecting the prudent financial
management, resulting in enhanced bottom-line performance and improved shareholder value creation.
• Fixed Assets witnessed a significant rise of 67%, underscoring the Company’s strategic investments in capacity expansion and modernization.
+6.3% +3.2% +13.9% +67%
EXECUTIVE SUMMARY
FY 2025 Consolidated Financials
• Consolidated Total Income rose by 6.0%.
• EBITDA grew marginally by 0.68%, primarily due to higher operating expenses and initial ramp-up costs in the subsidiary.
• Consolidated Profit After Tax declined by 13.22% compared to FY 2024, largely on account of higher depreciation linked to new asset capitalization in the
subsidiary. Importantly, this impact is transitional in nature, as these investments are aimed at enhancing future revenue capacity and profitability.
• Fixed Assets almost doubled, with a 99.08% increase, reflecting significant strategic capital investments across both the parent and subsidiary.
+6.0% +0.68% -13.22% +99.08%
+93.%
CLIENT CONTRUBUTIONS TO REVENUE
Revenue-Walk
1. Hubs & Spindles have seen a 15.90% reduction year on year. This is a temporary reduction due to inventory rationalization at
customer's end. We are expecting a >25% growth in this category in FY 2026.
2. Axle Shafts sales have grown by 19.16% from year on year from Rs.13.41 Cr to Rs.15.98 Crores.
3. Driveshaft Parts is a new product category we launched in FY 2024 and the sales has grown by 122% from Rs.2.79 Cr. to Rs.
6.20 Cr. . Significant growth due to new program wins and strong acceptance in export markets, this is going to be our biggest
product category by FY 2027.
Key Business Updates
Major Strategic Wins – New Business:
• Secured a ₹470 Cr order from a multi-billion-USD Tier 1 US OEM Customer to be delivered over 9 years in December 24
• Expected annual turnover contribution of ~ ₹55 Cr from this program.
• Despite enforcement of tariffs by US Government, during the past 5 months, we have added three new US customers who
along with two existing US customers have awarded annual business expected to be ~₹10 Crores
• PPAP samples of Hydraulic Gear Pump approved by our US customer. This is a proprietary product category and
expected to give a good boost to our sales and image. Purchase orders expected anytime this month.
• Secured a regular order from TAFE, India by our subsidiary company for Rotavator Parts with an expected annual turnover
of ~₹10 Cr in FY 2026.
Key Business Updates
Major Execution Wins – New Business:
• A dedicated state of the art greenfield manufacturing facility constructed and brought into production within six months for
executing this new OEM order.
• Product Verification samples approved. Commercial / Mass Production go ahead expected anytime this week.
• Production of Agri Equipment Project and Rotavator Blades in our subsidiary started and deliveries started.
• TAFE Rotavator parts in full production since July 2025
• Rotavator blades samples under approval with OEMs
• Construction of 30,000 sq. Ft. plant for sub-assemblies and warehouse completed to cater to the demands coming from
new projects.
• In view of new business awarded Forging plant is expected to run on two full shifts by end of FY 2026 which should add to
EBIDTA margins
MANAGEMENT COMMENTARY
FY 2025:-
• This year has marked a year of momentum and transformation, laying the foundation for a
better tomorrow.
• Secured a multi-year contract worth Rs. 470 crores over 9 years (Rs. 55 Crore per annum)
from a multi-billion USD Tier 1 customer. Commercial Production expected to start in
September 2025
• All the new production facilities have either started production or ready or mass production.
• Intensified R&D investments to support innovation in drivetrain components and agricultural
equipment
• Implemented operational excellence initiatives to improve productivity, optimize cost
structures and drive higher margins.
• Going forward the company is going to expand its business in European and Indian
Ashok Mehta markets through participating in relevant trade fairs and hiring dedicated sales &
Managing Director engineering teams to focus on these markets..
Profit & Loss Statement
(₹ in Cr.)
Standalone FY Ending Standalone FY Ending Consolidated FY Consolidated FY
Particulars
on 31.03.2025 on 31.03.2024 Ending on 31.03.2025 Ending on 31.03.2024
Gross Income 89.14 83.95 89.03 83.99
Profit Before Interest
18.85 17.23 18.36 17.20
and Depreciation
Finance Cost/Interest 1.91 2.36 2.41 2.38
Depreciation 2.68 1.86 4.26 1.90
Net Profit Before Tax 14.26 13.01 11.69 12.92
Provision for Tax 3.66 4.06 3.62 4.15
Net Profit After Tax 10.60 8.95 8.07 8.77
Balance Sheet
Standalone Balance Sheet (₹ In Cr.)
Liabilities & Shareholder As On As On As On As On
Assets
Funds 31.03.2025 31.03.2024 31.03.2025 31.03.2024
Share Capital 20.50 15.00 Property Plant & Equipment 26.67 19.45
Reserves & Surplus 59.24 4.27 Capital Work in Progress 5.81 -
Total Shareholder’s Funds 79.74 19.27 Non-Current Investments 3.20 3.20
Long-Term Borrowings 11.78 13.76 Long-term Loans & Advances 18.75 -
Deferred Tax Liabilities (Net) -0.02 0.51 Other Non-Current Assets 0.10 0.23
Total Non-Current Liabilities 11.76 13.81 Total Non-Current Assets 54.53 22.88
Short-Term Borrowings 11.92 14.54 Inventories 11.08 9.44
Trade Payables - Micro
Enterprises & Small 5.77 2.62 Trade Receivables 27.79 20.65
Enterprises
Trade Payables - Other than Cash and Cash Equivalents 9.20 0.19
1.68 12.07
Micro & Small Enterprises
Short Term Loans and
Other Current Liabilities 2.79 2.20 10.06 11.58
Advances
Short-Term Provisions 3.73 1.46 Other Current Assets 4.74 1.23
Total Current Liabilities 25.89 32.89 Total Current Assets 62.87 43.08
Total Equity & Liabilities 117.39 65.97 Total Assets 117.39 65.97
Balance Sheet
Consolidated Balance Sheet (₹ In Cr.)
Liabilities & Shareholder As On As On As On As On
Assets
Funds 31.03.2025 31.03.2024 31.03.2025 31.03.2024
Share Capital 20.50 15.00 Property Plant & Equipment 36.50 27.41
Reserves & Surplus 59.45 5.03 Capital Work in Progress 21.89 2.84
Total Shareholder’s Funds 79.95 20.03 Goodwill on Consolidation 2.13 0.14
Long-Term Borrowings 20.65 26.17 Long-term Loans & Advances - -
Deferred Tax Liabilities (Net) 0.04 0.15 Other Non-Current Assets 0.21 0.34
Total Non-Current Liabilities 20.69 26.32 Total Non-Current Assets 60.73 30.73
Short-Term Borrowings 14.29 16.16 Inventories 13.05 9.44
Trade Payables - Micro
Enterprises & Small 6.42 2.66 Trade Receivables 27.84 20.70
Enterprises
Trade Payables - Other than Cash and Cash Equivalents 9.53 0.36
1.81 12.11
Micro & Small Enterprises
Short Term Loans and
Other Current Liabilities 3.59 3.18 14.49 13.42
Advances
Short-Term Provisions 3.73 1.46 Other Current Assets 4.84 7.27
Total Current Liabilities 29.84 35.57 Total Current Assets 69.75 51.19
Total Equity & Liabilities 130.48 81.92 Total Assets 130.48 81.92
Cash Flow Statement
Particulars As On 31.03.2025 As on 31.03.2024
Cash Flows from Operating Activities
Profit before taxation 14.26 5.78
• Operating cash flow deficit reduced significantly
from ₹(19.26) crores in FY 2023–24 to ₹(3.43)
Adjustments for:
crores in FY 2024–25.
Depreciation & Amortization 2.68 0.97
Investment income - Interest Received & (1.46) (0.00) • Depreciation & amortization increased from
MF Gain ₹0.97 crores to ₹2.68 crores, reflecting
Interest expense 1.91 0.83 investments in long-term assets which will lead to
(Profit) / Loss on the sale of property, plant (0.01) (0.00) revenue generation in coming years.
& equipment
• Net working capital movements continue to weigh
Working capital changes:
on operating cash flows.
(Increase) / Decrease in trade and other (9.12) (33.46)
receivables • Trade receivables increased by ₹9.12 crores.
(Increase) / Decrease in inventories (1.65) (9.43)
• Inventory levels rose by ₹1.65 crores.
Increase / (Decrease) in trade & other (6.65) 16.89
payables • Trade payables decreased by ₹6.65 crores
Cash generated from operations (0.05) (18.43)
Interest paid (1.91) (0.83)
Income taxes paid (1.47) -
Net cash from operating activities (3.43) (19.26)
Cash Flow Statement
Particulars As On 31.03.2025 As on 31.03.2024
Particulars As On 31.03.2025 As on 31.03.2024
Cash Flows from Investing Activities
Net cash from operating (3.43) (19.26)
Purchase of property, plant and (17.84) (20.50) activities
equipment (Fixed Assets) Net cash used in investing (32.86) (23.84)
activities
Proceeds from sale of equipment / Subsidy 2.14 0.09
Received Net cash used in financing 45.29 43.29
activities
Investment in Subsidiary - (3.20) Net increase in cash and 9.00 0.19
Long Terms Loans & Advances (18.75) - cash equivalents
Investment income - Interest Received & 1.46 0.00 Cash and cash equivalents 0.19 0.00
at beginning of period
MF Gain
Cash and cash equivalents 9.19 0.19
Increase in Non Current Assets 0.13 (0.23) at end of period
Net cash used in investing activities (32.86) (23.84)
Cash flows from financing activities
Proceeds from issue of share capital 49.88 15.00
Proceeds from (Repayment of) long-term (1.93) 5.00
borrowings
Proceeds from (Repayment of) Unsecured (0.04) 8.75
Loan
Increase/Decrease in Short Term (2.62) 14.54
Borrowings
Net cash used in financing activities 45.29 43.29
Near Term Growth Outlook 1 - 2 years
Drivetrain Parts Business Agri Business
• We are expecting major growth in this segment in FY • Actively pursuing opportunities with various Indian
26 and FY 27 due to heavy inflow of new business. OEMs. Business with TAFE already started and is
being ramped up.
• We are expecting a ramp up in production of various
parts in this category • Actively appointing distributors all over the country.
Business already started in Karnataka and MP.
• Strong RFQ pipeline and negotiations ongoing for
additional package of parts • Upcoming product range: Inter Row Weeders, Laser
Levelers, Potato Planters and Diggers
• With the forging plant inhouse we are expecting a
marginal improvement in EBIDTA as well • Expecting major growth in this segment in FY 27.
Annual Production Capacity: Rs. 200 Crores Annual Production Capacity: Rs. 150 Crores
Long Term Growth Outlook 3 - 5 years
Drivetrain Parts Business Agri Farm Business
• We are expecting major growth in this segment in the • Agri equipment is the next wave of growth for India.
coming years Tractors mechanisation >70%
Other Farm Equipment <25%
• Additional growth should also come from European
and Indian markets – Next Focus Markets • Indian market shifting from unorganised to organised
players
• Value added Parts will be launched for further
improvement in EBIDTA margins • Next Gen Equipment will generate better margins
Annual Business Potential: Rs. 400 Crores Annual Business Potential: Rs. 250 Crores
Potential Total Annual Revenue: Rs. 650 Crores
Emmforce Autotech Ltd. Plot No.1,3&5 EPIP Phase-I, Baddi,H.P-173205, INDIA
Ph.+91-98760-09999 ,E-Mail: [Link]@[Link]
[Link]
