Gayatri Projects Limited · NSE:GAYAPROJ
Gayatri Projects — Q2 FY22 Earnings Presentation
24 slides from Gayatri Projects's earnings presentation, Nov 18, 2021
Slide 1: Cover letter to BSE and NSE
November L8,2O2L <ù G^y TRt To ïo The Secretary, Listing Depaftment The Manager, Listing Department BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza,5th Floor, Plot No. C/1, Dalal Street, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 001 Mumbai
Slide 2: Gayatri Projects Limited Q2 FY22 Earnings
Gayatri Projects Limited Q2 FY22 Earnings 1
Slide 3: Disclaimer
Disclaimer The material that follows is a Presentation of general background information about the Company’s activities as at the date of the Presentation. It is information given in summary form and does not purport to be complete and it cannot be guaranteed that such information is true and accura
Slide 4: Key Highlights
Key Highlights Strategic Updates o Board had approved Preferential allotment of 75,000,000 equity shares at a price of INR 45 per equity share, aggregating to an inflow of INR 337 crores to 2 Strategic Investors – Taaza International Pte and Interups Inc. Company is following up to conclude the deal
Slide 5: Key Highlights
Key Highlights Financial Management o On account of the tight cash flow situation, Company has defaulted in repayment to lenders due to non-realisation expected receivables and as at 30th September 2021 the total outstanding dues to lenders are Rs 541.47 crores o Company in discussion with banks to
Slide 6: Q2FY22 Income Statement - Snapshot
Q2FY22 Income Statement - Snapshot INR Mn Q2FY22 Q2FY21 YoY(%) H1FY22 H1FY21 YoY(%) Revenue 8,655 7,982 8% 17,626 14,662 -13% Expenses* 9,585 6,939 38% 17,462 12,774 -11% EBITDA -930 1,043 -189% 164 1,888 -24% EBITDA Margin -10.75% 13.07% 0.93% 13.10% Depreciation 192 221 -13% 381 438 13% Finance Co
Slide 7: Top Work Orders – Status Update – Q2FY22
Top Work Orders – Status Update – Q2FY22 Project Name Location Contract Value (INR lacs) Balance work as on 01.11.2021 (INR crs) Mobilized on Site Revenue Booking Start Expected Completion of Project Purvanchal Expressway Package 1 Eastern UP 1,483 203 Yes Q3 19 Q2 22 Purvanchal Expressway Package 2
Slide 8: Top Work Orders – Status Update – Q2FY22
Top Work Orders – Status Update – Q2FY22 Project Name Location Contract Value (INR Lacs) Balance work as on 01.07.2021 (INR Crs) Mobilized on Site Revenue Booking Start Expected Completion of Project Hyderabad Elevated Corridor Hyderabad 425 277 Yes Q1 20 Q2 23 Vadodara - Iqubalgarh to Vadodara : 47
Slide 9: GPL: Amongst India’s leading Asset – Light EPC Companies
GPL: Amongst India’s leading Asset – Light EPC Companies Business Segments One of India’s leading EPC focused construction and infrastructure companies Re-focused business on “Asset-Light” Model over last 6 years Reduced, restructured, monetized exposure to Asset Development Business Core Busine
Slide 10: Notes to Account - Snapshot
Notes to Account - Snapshot Note 5 6 Description Gayatri Hi-Tech Hotels: Legacy issue. Investment in Gayatri Highways Limited: Road Significantly delayed EPC cost receivable BOT assets owned by GPL were spun off into from a related party. It was subsequently separate listed company (GHL) and 74% of
Slide 11: Notes to Account - Snapshot
Notes to Account - Snapshot Note 6 7 Description Contract Advances (loan): Exposure to Sai Maatarani Tollways Ltd: SMTL Road Project was terminated by the NHAI on 28th January, 2020 and toll collection rights In the ordinary course of were handed over to the NHAI from 30th January, 2020. The busines
Slide 12: Notes to Account - Snapshot
Notes to Account - Snapshot Note 8 9 Description Receivables from Western UP Tollways Advance to Suppliers, Sub (WUTPL)(erstwhile associate company). EPC Cost – 36.2 Contractors given in the cr. This amount is receivable from the erstwhile associate normal course of business company against the EPC
Slide 13: Building an Asset Light Business Model
Building an Asset Light Business Model Growing Revenue Base (INR MN) Working Capital Days 78 78 67 64 62 FY17 FY18 FY19# FY20 FY21 Receivable Days Inventory Days Payable Days Net Working Capital * Due to lockdown, work at major sites came to standstill during Q1FY20 and the revenue during trailing 1
Slide 14: Pure Play EPC Order Book Getting Stronger
Pure Play EPC Order Book Getting Stronger Geographical Diversification Segmental Diversification 54% Others Hyderabad Jharkhand Karnataka 3% 3% 2% Andhra Pradesh 3% 15% 22% [CATEGORY 21% NAME] Bihar 6% 2% 1% Jammu ROAD IRRIGATION JAL JEEVAN MINING INDUSTRIAL 7% Odisha 13% De-Risked EPC Order Book (I
Slide 15: Key Investment Highlights
Key Investment Highlights Strong presence in high growth construction sector Healthy and diversified pure EPC un-executed order book with good revenue growth visibility Highly efficient operations with strong execution capabilities Consistently trying to further strengthen the balance sheet Signific
Slide 16: Appendix
Appendix 15
Slide 17: Awards & Claims
Awards & Claims Different arbitration tribunals/courts have awarded GPL, a total of INR 5 Bn+, AWARDS INR 5 Bn+ towards disputed receivables from its EPC clients. In addition, GPL has a net exposure to CLAIMS INR 3.5 Bn+ outstanding claims of INR 3.5 Bn+ in different arbitral tribunals/courts. 16
Slide 18: Monetisation of stake in power asset
• The company concluded the sale of its 5.95% stake in power assets of Sembcorp Energy India Ltd (“SEIL”) for cash proceeds of INR 4,068 Mn + upside option in Dec 2019. • The proceeds from the above sale, INR 2,068 Mn has been used towards repayment of long-term debt and the balance amount is utiliz
Slide 19: Profit & Loss
Profit & Loss All figures in INR Million INR Mn FY21 FY20 FY19 FY18 FY17 Revenue 39,005 34,273 34,631 29,123 21,154 Expenses 34,514 30,007 29,182 24,446 17,919 EBITDA 4491 4266 5,449 4,677 3,234 EBITDA Margin 11.5% 12.4% 15.7% 16.1% 15.3% Depreciation 845 909 659 547 432 Finance Cost 3,207 2,857 2,5
Slide 20: Balance Sheet
Balance Sheet All figures in INR Million ASSETS (INR Mn) H1FY22 FY21 FY20 FY19 EQUITY AND LIABILITIES (INR Mn) H1FY22 FY21 FY20 FY19 EQUITY NON-CURRENT ASSETS (a) Equity Share capital 374 374 374 374 (a) Property Plant & Equipment 3,153 3,301 3,942 3,763 (b) Other Equity 7,972 9,630 9,049 12,922 (b)
Slide 21: Board of Directors
Board of Directors Promoter and Non-Executive Chairperson, over 25 years of experience in the T. Indira Reddy construction industry T. V. Sandeep Kumar Reddy Promoter and Managing Director, 20+ years of construction experience Executive Vice Chairman, Over 49 years of experience in Heavy Engineering
Slide 22: Management Team - HQ
Management Team - HQ T Sandeep Reddy D Sitaram Managing Director President, Business Development Masters in Construction Engineering & In-charge of evaluating new business units, Management from University of Michigan, USA identifying suitable Joint-Venture partners, and 20+ years of const
Slide 23: Management Team - Projects
Management Team - Projects K Sesha Reddy CH Ramakrishna Rao Senior Vice President, Transportation Senior Vice President, Roads In-charge of project monitoring and controls Oversees road construction projects Previously a Project Head at L&T Masters in Construction management from Birla
Slide 24: Thank You
Thank You Contact Details – Go India Advisors R.Balasubramanian Gayatri Projects Limited Sheetal Khanduja Tel: +91 40 23310330 +91 9769364166 r.bala@gayatri.co.in sheetal@goindiaadvisors.com Chetan Sharma Surabhi Sutaria Gayatri Projects Limited +91 95940 63493 Tel: +91 40 23310330 surabhi@goindiaad