GARUDA AEROSPACE PRIVATE LIMITED INVESTMENT OPPORTUNITY IN HEALTH

GARUDA AEROSPACE PRIVATE LIMITED INVESTMENT OPPORTUNITY IN HEALTH TECH SERVICES

COMPANY IN ONE LINE Garuda Aerospace Private Limited (GAPL), a Chennai based firm that designs, builds and customizes Unmanned Aerial Vehicles (UAVs) or drones for various applications across India.

PROBLEM STATEMENT § Disinfecting & Sanitizing India's vast area of 3. 28 Million Sq. km to prevent the spread of Covid-19. § Absence of technological solutions for sanitization of cities, towns, villages, common areas, buildings, etc. , across the length and breadth of India within the shortest possible time frame to address the immediate issue of Covid-19.

INNOVATION § Use of drones for sanitization of public places, high rise buildings, etc. , monitoring and management of crowds, validated by CBRE, minimizing the dependency on manual labour and higher efficiency. § The CK 100 (Drone) consists of patented autopilot technology, advanced flight controller system & equipped with fuel efficient motors that enables the drone to be deployed for 12 hours a day (6 am-6 pm). § The CK 100 has payload capacity of 15 -20 liters, flight duration of 40 -45 minutes & maximum ceiling height of 450 feet which is sufficient to disinfect 99% of tall buildings across India with capabilities to cover 6000 km every single day. § GAPL has aggregated vendors in multiple locations across India under a common platform, a mobile app developed under IOS and Android platforms.

CONSUMER APP § GAPL have Uberised various drone services and have a fleet of 1600 drone vendors and partners across India. § The most ground breaking technology services are available now at a tap of the customers. § The Garuda App enables the users to pick from 8 services that are available right now. Various service providers such as freelance drone operators or other drone fleet companies etc. , can register and offer their services through the app as vendors. § User registers and logs in to the app, chooses the service they want and the nearest available drone partner with that service offering, provides the drone service the customers require.

SERVICES OFFERED

TECHNICAL ARCHITECTURE

SOLUTION § Drone based solutions are meant to substitute human health workers Sanitation activities & to ensure they don't get affected. The drones will do the same job but will be able to cover a lot more distance. § CK 100 equipped with thermal sensing can help officials with crowd management and identify people with elevated body temperatures which could indicate they have the virus. § Due to the contagiousness of COVID 19 it is safer if human to human contact is minimized. Since drones are immune to infection, they can be easily used to deliver essential items – like medicines and food items. § CK 100 can also be used to patrol areas and monitor crowds and traffic more efficiently so that those not wearing masks or practicing precautions are identified.

MARKET SIZE § The Corona Virus pandemic necessitates sanitization of public places, high rise buildings, commercial establishments, hospitals, schools, colleges, etc. , across the length and breadth of India § There are over 100 Smart Cities across India and GAPL is also working with Varanasi Smart City Limited, Raipur Smart City Limited and Chennai Smart City Limited as part of their Smart Swachh Bharat initiatives on sanitization. § GAPL is also in talks with companies in UK & Spain to carry out similar sanitization operations using 1000 drones.

OPPORTUNITY Smart City Private Establishments 100 Smart Cities 99, 000 Average Establishme nt INR 350 Crore INR 100 Crore GAPL’s Target Market Addressable Market Size INR 5, 940 Crore INR 600 Crore GAPL’s Target Market Addressable Market Size

COMPETITION § Drone technology is a highly capital-intensive business. Due to the lack of seed funding, most of the competitors only have a fleet of 3 -5 drones and are geographically limited while operating only in 1 or 2 cities. § GAPL is combating Corona Virus spread by conducting drone based Sanitization Operations with a fleet of ~300 Drones & ~500 Pilots. § GAPL is a market leader today as it has already completed ~30 projects in 10 cities and is now present in 26 cities across India.

BUSINESS MODEL § GAPL executes the projects based on orders – either short term or long term. Presently, most of the orders are for sanitization of specific areas or buildings and are mainly B 2 G or B 2 B projects § With its head start in the sanitization operations, GAPL has evolved an all India aggregator model with smaller players in multiple cities across India and have enlisted them as its vendors. Upon signing up the contracts, based on availability of drones, work is allocated to the vendors in the respective cities / towns, enabling faster delivery of services. § GAPL is also signing up long term 3 year contracts for sanitization on periodic basis, with private establishments at a pricing of INR 30, 000 per day § The Company has received work orders from various states across India, worth ~INR 50 Crore. § Indicative clients who are all in the pipeline - GAMESA, L&T, BMW, SCANIA, TCT, VEDANTA and TAMIL NADU POLICE & FOREST DEPARTMENT.

FINANCIALS Profit & Loss Account INR in Crore FY 18 A Fund Requirement FY 19 A FY 20 P FY 21 E Revenue 0. 90 0. 86 1. 54 48. 90 EBITDA 0. 27 -0. 06 0. 33 3. 30 EBITDA Margin 30% PAT 0. 23 -8% -0. 17 22% 0. 26 7% 1. 16 FY 22 E FY 23 E 158. 74 351. 35 20. 88 13% 9. 56 45. 85 13% 25. 17 Particulars Source of Funds Government Grant Total Application of Funds Drones - Capex Working Capital Total Rs. In Crs 27. 00 20. 00 7. 00 27. 00

TEAM § GAPL has a team of 50+ Scientists, Research Scholars and Engineers drawn from top institutions with core expertise in Aviation and Aeronautical Technology. § Mr. Agnishwar Jayaprakash – Founder & Managing Director An MBA graduate from Queens University, Charlotte, North Carolina. First-generation entrepreneur, global youth activist and conquering a number of international records in swimming. Also serves on numerous advisory panels & informal advisor to Civil Society Organizations (CSOS) & Private Sectors. § Advisory Board • DR. Sultan Ahmed Ismail • DR. T. S. Natarajan • Mr. Syed Munir Hoda