Kridhan Infra Limited · NSE:KRIDHANINF
Kridhan Infra — Q2 FY2019 Earnings Presentation
24 slides from Kridhan Infra's earnings presentation, Nov 19, 2018
Slide 1: Cover letter to stock exchanges
Kridhan Infra Limited 19th November, 2018 To, To, The BSE Limited National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Fort, Bandra Kurla Complex, Bandra(E), Mumbai 400001. Mumbai 400051. Ref: Scrip Code: 533482 Ref: Symbol: KRIDHANINF Subject:
Slide 2: Kridhan Infra Limited Investor Presentation Q2FY19
Kridhan Infra Limited INVESTOR PRESENTATION | Q2FY19
Slide 3: Disclaimer
Disclaimer This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections abo
Slide 4: Q2FY19 Highlights & Strategic Review
Q2FY19 Highlights & Strategic Review
Slide 5: Agenda
Agenda 1. Introduction Slide No. 5 2. H1FY19 Highlights Slide No. 6-12 3. Guidance & Company Overview Slide No. 13-16 4. Appendix – Company Highlights Slide No. 17-22 4
Slide 6: Kridhan: Strategically Positioned EPC company
Kridhan: Strategically Positioned EPC company A Leading Engineering, Procurement Kridhan Infra Limited and Construction Company in Asean Singapore, India, Malaysia, Indonesia (Listed on BSE and NSE) Strong Project Execution Skill 300+Projects Completed Bid for unlimited value of projects Prestigious
Slide 7: Q2FY19: Financial Highlights
Q2FY19: Financial Highlights Revenue (INR Mn) EBITDA (INR Mn) & EBITDA Margin (%) Pre Exceptional PAT MI (INR Mn) 2,121 14% 173 297 1,929 14.8% 255 127 Q2FY18 Q2FY19 Q2FY18 Q2FY19 Q2FY18 Q2FY19 Reported Q2 Revenue and EBITDA numbers do not include contribution from India EPC Business; o PAT MI inc
Slide 8: Q2 FY19 Financial Performance
Q2 FY19 Financial Performance INR Mn Q2FY19 Q2FY18 Y-o-Y% Revenue 1,719 2,121 -19% Expenses 1,601 1,996 -20% EBITDA 255 298 -14% EBITDA Margin 15% 14% 6% Depreciation 103 131 -21% Finance Cost 34 42 -19% Other Income 31 31 0% Exceptional Items -29 - PBT 120 156 -23% Tax 0 20 -98% Share of Profit/Los
Slide 9: H1 FY19 Financial Performance
H1 FY19 Financial Performance INR Mn H1FY19 H1FY18 Y-o-Y% FY18 Revenue 3,648 3,974 -8% 7,125 Expenses 3,398 3,749 -9% 6,599 EBITDA 536 548 -2% 1,095 EBITDA Margin 15% 14% 6% 15% Depreciation 200 252 -21% 408 Finance Cost 86 72 20% 162 Other Income 59 54 10% 77 Exceptional Items -66 -4 1786% - PBT 24
Slide 10: H1 FY19: VNC integration drives strong performance
H1 FY19 : VNC integration drives strong performance Strong Growth FY19 Guidance Total Order Book INR 38 bn Consolidated Revenue: INR 18-20 INR 11+ bn billion Order Wins in H1FY19 o India EPC revenue: INR 12-13 Order wins since end of Q2 FY19 INR 3.6 bn billion o SG EPC revenue: INR 1.5-2 India EPC B
Slide 11: Strong Order Inflows across business
Strong Order Inflows across business India: VNC IN Q1FY19 Current Order Book Break-up INR 7,800+ million (Proforma Basis: INR 38 billion) o Structural work for Vishakhapatnam Road worth INR 1,800 million In Q2FY19 SG EPC, 5% o Construction order at IGI Airport worth INR 742 million SG o In 51% JV, w
Slide 12: India EPC (VNC) in Q2FY19 – On a Solid Growth Path
India EPC (VNC) in Q2FY19 – On a Solid Growth Path Operational Highlights VNC Order Book Breakup Won new orders worth INR 7.8 bn during H1FY19 (INR 32+ billion) Significantly strengthened Balance Sheet after equity infusion from Affordable Kridhan Infra Housing Roads & 26% Bridges 37% Way Forwar
Slide 13: Singapore Performance Update
Singapore Performance Update KH Foges Swee Hong Strong order book growth Pre acquisition legacy orders are nearing Won new piling orders worth SG$24.6 million in completion Q2FY19 Phase I of a large contract at Swee Hong Commenced construction at key projects commissioned on 28th Oct. St
Slide 14: Guidance & Overview
Guidance & Overview
Slide 15: FY19 Strategic Priorities and Guidance
FY19 Strategic Priorities and Guidance Strategic Priorities FY19 Guidance Consolidated Revenue: INR 18-20 billion Consolidate VNC as a majority owned Subsidiary o India EPC revenue: INR 12-13 billion o SG EPC revenue: INR 1.5-2 billion o SG FE revenue: INR 4-5 billion Strengthen India EPC EBITDA: IN
Slide 16: Proforma Financial Performance and Order Book
Proforma Financial Performance and Order Book H1FY19 Proforma Financial Performance Current Order Book Break-up Assuming 50.5% stake in VNC (Proforma Basis: INR 38.3 billion) Proforma (INR Mn) H1FY18 (Actual) H1FY19 (PF) Y-o-Y% SG Revenue 3,974 8,370 111% EPC, 5% SG EBITDA 548 1,059 93% FE, 11% EBIT
Slide 17: Strong Financial Position
Strong Financial Position Total Revenue (INR Mn) EBITDA (INR Mn) and EBITDA % 15.40% 15.20% 1,046 1,095 6,799 6,882 7,125 13.50% 6,517 10.90% 10.30% 11.40% 740 4,692 4,887 674 659 535 FY13 FY14 FY15 FY16 FY17 FY18 FY13 FY14 FY15 FY16 FY17 FY18 Net worth (INR MN) 5,599 Debt (INR Mn) Term Loan Working
Slide 18: Appendix
Appendix
Slide 19: Group Structure
Group Structure Listed on BSE and NSE Kridhan Infra Ltd (India) BSE Code: 533482 NSE Code: KRIDHANINF Listed on Singapore Stock Vijay Nirman RMS Singapore Pte Kridhan Infra Solutions Exchange Company P Ltd Ltd (Singapore) Pvt Ltd (India) SGX: QF6.SI (India) 100% 100% 41.47% Bloomberg Ticker: SWHP:SP
Slide 20: Grown Fast through Well-Timed Acquisitions
Grown Fast through Well -Timed Acquisitions 2017/2018 2016 Acquired 2014 41.47% stake 2013 Acquired in Vijay Swee Hong Nirman 2012 Acquired 35% Singapore Company P Acquired Limited; a Ltd 2011 stake in Econ PSL leading listed Geo Tech Pte Civil Acquisition engineering, 2007 of KH Foges Singapore – L
Slide 21: Robust Order Book: More diversified, More India Focused
Robust Order Book: More diversified, More India Focused MARCH’18 Order Book FY16 Order Book March’17 PROFORMA ORDER BOOK Rs 6,660 Mn INR 7,915 Mn INR 35+ billion SG RMS EPC 2% 2% RMS SG FE RMS 14% 10% 16% India EPC India 7% FE 19% SG EPC 47% SG FE 71% SG FE 32% India EPC (VNC) 80% 20
Slide 22: Profit & Loss Statement
Profit & Loss Statement INR Mn FY18 FY17 FY16 Revenue 7,125 6,882 4,887 Total Expenditure -6,599 -6,404 -4,228 EBITDA 1,095 1,046 659 EBITDA Margin (%) 15.40% 15.20% 13.5% Interest -162 -176 -119 Depreciation -408 -392 -327 Other Income 77 186 69 PBT 602 664 282 Tax -48 -5.1 -58 PAT (pre-exceptional
Slide 23: Balance Sheet
Balance Sheet INR Mn FY18 FY17 FY16 INR Mn FY18 FY17 FY16 Share Capital 190 148 148 Non Current Assets 4,927 4,190 2,659 Reserves and Surplus 5,409 2,650 1,622 Fixed Assets 1,994 2,275 1,848 Share & Warrant Application Goodwill on 506 0 0 1,517 1,437 223 Money Consolidation Minority Interest 205 169
Slide 24: Contact Detail
Contact Detail Ms. Sheetal Khanduja Go India Advisors +91 9769364166 sheetal@goindiaadvisors.com Ms. Tanya Khosla Go India Advisors +91 9769387813 tanya@goindiaadvisors.com