Kridhan Infra Limited · NSE:KRIDHANINF
Kridhan Infra — Q1 FY19 Earnings Presentation
24 slides from Kridhan Infra's earnings presentation, Aug 24, 2018
Slide 1: Kridhan Infra Limited
Kridhan Infra Limited (Formerly known as Readymade Steel India Ltd) 24th August, 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
Slide 2: Investor Presentation | Q1FY19
Kridhan Infra Limited INVESTOR PRESENTATION | Q1FY19
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: Agenda
Agenda 1. Q1FY19 Highlights Slide No. 5-10 2. Guidance & Company Overview Slide No. 12-16 3. Appendix – Company Highlights Slide No. 18-22 3
Slide 5: Q1FY19 Highlights & Strategic Review
Q1FY19 Highlights & Strategic Review
Slide 6: Moving Towards Strong Growth
Moving Towards Strong Growth Strong Growth FY19 Guidance Q1 FY19 Order Inflows INR 3.7+ bn Consolidated Revenue: INR 18-20 billion India EPC* Order book INR 34+ bn o India EPC revenue: INR 12-13 billion Book to Bill ratio** 2.4x o SG EPC revenue: INR 1.5-2 billion o SG FE revenue: INR 4-5 billion Or
Slide 7: Order Win Trajectory – FY19
Order Win Trajectory – FY19 India: VNC INR 7,151 million IN Q1FY19 Consolidated Order Book Break-up o Structural work for Vishakhapatnam Road worth INR 1,800 (Proforma Basis: INR 37+ billion) million SINCE Q1FY19 SG RMS o Construction order at IGI Airport worth INR 742 million EPC 2% 2% o In 51% JV,
Slide 8: Q1FY19: Financial Highlights
Q1FY19: Financial Highlights Revenue (INR Mn) EBITDA (INR Mn) & EBITDA Margin (%) PAT (INR Mn) 1929 145 14.6 1853 108 13.6 252 288 Q1FY18 Q1FY19 Q1FY18 Q1FY19 Q1FY18 Q1FY19 4% 12% 35% 7
Slide 9: Q1FY19 Financial Performance
Q1FY19 Financial Performance INR Mn Q1FY18 Q1FY19 % Change TOTAL REVENUE 1,853 1,929 4.1% Bill of materials & Services (600) (447) Change in Inventory (7) 4 Construction Expenses (862) (1,004) GROSS PROFIT 384 482 25.5% GPM (%) 20.7% 25.0% Employee benefits (83) (114) Other Expenses (49) (86) EBITDA
Slide 10: India EPC (VNC) in Q1FY19 – On a Strong Growth Path
India EPC (VNC) in Q1FY19 – On a Strong Growth Path Operational highlights VNC Order Book Breakup Won orders worth INR 1,800 million during Q1FY19 (INR 34,546 Mn) Bagged orders worth ~INR 5,000 million since Q1FY19 Urban Infra - Significantly strengthened Balance Sheet after equity infusion fr
Slide 11: Q1FY19 – Singapore Performance Update
Q1FY19 – Singapore Performance Update KH Foges Swee Hong Commenced construction in 3 key projects: Singapore Q1FY19 revenues declined slightly due to lower revenue General Hospital with contract value of SGD 23.6 million; recognised for ER 382 project Mixed commercial & residential development a
Slide 12: Guidance & Overview
Guidance & Overview
Slide 13: 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 14: Proforma Financial Performance and Order Book
Proforma Financial Performance and Order Book Q1FY19 Proforma Financial Performance Q1FY19 Proforma Order Book Assuming 50.5% stake in VNC INR 37+ bn Q1FY18 (Actual) Q1FY19 (PF) SG RMS Revenue 1,853 4,044 EPC 2% EBITDA 252 582 2% EBITDA Margin 13.6% 14.4% SG FE 16% PAT (Pre-exceptional) 108 166 Reve
Slide 15: Proforma Financial Performance and Order Book
Proforma Financial Performance and Order Book FY18 Proforma Financial Performance FY18 Proforma Order Book Assuming 50.5% stake in VNC INR 35+ bn FY17 (Actual) FY18 PF SG RMS Revenue 6,882 15,896 EPC 2% EBITDA 1,046 1,928 2% EBITDA Margin 15.2% 12.13% SG FE 16% PAT (Pre-exceptional) 473 583 Revenue
Slide 16: Kridhan: Strategically Positioned EPC company
Kridhan: Strategically Positioned EPC company A Leading Engineering, Procurement and Singapore, India, Malaysia, Indonesia Construction Company in Asean Strong Project Execution Skill 300+Projects Completed Bid for unlimited value of projects in FE Cost High Margin Prestigious L6 Certification from
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 Kridhan Infra Vijay Nirman RMS Singapore Pte Exchange Solutions Pvt Ltd Company P Ltd Ltd (Singapore) SGX: QF6.SI (India) (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 Revenue 7125 6882 Total Expenditure -6599 -6404 EBITDA 1095 1046 EBITDA Margin (%) 15.40% 15.20% Interest -162 -176 Depreciation -408 -392 Other Income 77 186 PBT 602 664 Tax -48 -5.1 PAT (pre-exceptional) 554 659 Minority Interest -24 -186 Adjusted PAT (pre-
Slide 23: Balance Sheet
Balance Sheet INR Mn FY18 FY17 FY16 INR Mn FY18 FY17 FY16 Share Capital 190 148 148 Non Current Assets 4927 4,190 2,659 Reserves and Surplus 5409 2,650 1,622 Fixed Assets 1994 2,275 1,848 Share & Warrant Application Goodwill on 506 0 0 1517 1,437 223 Money Consolidation Minority Interest 205 169 156
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