Capacit'e Infraprojects Ltd. · NSE:CAPACITE
Capacit'e Infraprojects — Q2 & H1 FY20 Earnings Presentation
39 slides from Capacit'e Infraprojects's earnings presentation, Nov 8, 2019
Slide 1: Investor Presentation submission letter to stock exchanges
Ref : CIL/STEX 30/Q2FY20 Date : November 08, 2019 To The Secretary, The Secretary, BSE Limited National Stock Exchange of India Limited Corporate relation Dept, Plot No. C/1, G Block, P.J. Towers, Bandra Kurla Complex Dalal Street, Fort, Bandra (East) Mumbai-400 001 Mumbai-400 051 Scrip Code – /Scri
Slide 2: Investor Presentation Q2 & H1 FY20
Capacit'e Infraprojects Ltd. On a Long-term Growth Path… Investor Presentation Q2 & H1 FY20 When you think of CAPACIT'E, don’t think ‘Construction’ only Think ‘Value-creation’ instead...
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Capacit'e Infraprojects Ltd. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any
Slide 4: Q2 & H1 FY20 Standalone Performance
Q2 & H1 FY20 Standalone Performance
Slide 5: H1 FY20 Standalone Performance Highlights
H1 FY20 Standalone Performance Highlights Total Income (In ₹) EBITDA (In ₹) EBITDA Margins PAT (In ₹) 39% 831 Crores 3.7% YoY 152 Crores 6.6% YoY % 18.2% 170 Bps 64 Crores YoY Cash PAT (In ₹) Order Book (In ₹) Order Inflow (In ₹) 121 Crores 29.0% YoY ~11,137 Crores ~ 5,244 Crores (Private + Public)
Slide 6: Our Order Book Status
Our Order Book Status (Standalone) (Under an Integrated SPV) ▪ Total Order Inflow during H1 FY20 was ₹ 5,244 Crores Public Private ` MHADA ▪ Added New marquee Sector Sector names to the clientele: • CIDCO • Raymond Limited • K Raheja Corp with GIC Singapore • Phoenix Market City with Canadian Order
Slide 7: Order Book Details
Order Book Details (₹ In Crs) Order Backlog Project Split Category wise split 11,137 7,177 5,682 High Rises 4,289 Commercial & Institutional 1,693 2,266 2,805 Other Buildings & Super High Rises 17% 24% FY14 FY15 FY16 FY17 FY18 FY19 H1 FY20 (₹ In Crs) Order Inflow 5,244 56% 20% 1,515 1,807 1,822 931
Slide 8: Key Delivered / Virtually Completed Marquee Projects
Key Delivered / Virtually Completed Marquee Projects Lodha – Splendora Sir Ganga Ram Hospital – MLCP* * Multi Level Car Park Hiranandani – The Walk Bharti Land – Worldmark T-Series – Corporate Office Sattava Group – Sattva Salarpuria Cadenza Lodha – The Park Saifee Burhani Upliftment Trust Wadhwa –
Slide 9: Sustainable growth in the face of challenges
Sustainable growth in the face of challenges Challenges faced by the Industry Demonetization (Q3FY17) RERA (Q1FY18) & GST (Q2FY18) NBFC Crisis (Q3FY19) FY16-17 FY17-18 FY18-19 Capacit'e Approach Action Outcome Action Outcome Action Outcome 34% Top Line growth & 23% Focus on Client Focus on Client Di
Slide 10: H1 FY20 Financial highlights
H1 FY20 Financial highlights Total Income (₹ in Cr.) EBITDA (₹ in Cr.) EBITDA Margin (%) PBT (₹ in Cr.) -3.7% 6.6% -4.9% 863 831 142 152 18.2 71.1 67.5 16.5 H1 FY19 H1 FY20 H1 FY19 H1 FY20 H1 FY19 H1 FY20 H1 FY19 H1 FY20 PAT (₹ in Cr.) PAT Margin (%) Cash PAT (₹ in Cr.) Cash PAT Margin (%) 39.0% 29.
Slide 11: Q2 & H1 FY20 Standalone Profit & Loss
Q2 & H1 FY20 Standalone Profit & Loss Particulars (₹ In Crs) Q2 FY20 Q2 FY19 Y-o-Y H1 FY20 H1 FY19 Y-o-Y Revenue from Operations 405.3 443.1 -8.5% 816.5 840.6 -2.9% Other Income 8.1 11.6 14.9 22.7 Total Income 413.5 454.8 -9.1% 831.4 863.3 -3.7% Cost of Material Consumed (Incl. Construction Expenses
Slide 12: H1 FY20 Cash Flow Statement
H1 FY20 Cash Flow Statement Cash Flow Statement for six months ended (Rs in Cr) H1 FY20 H1 FY19 PBT 67.5 71.1 Adjustments 81.3 58.9 Operating profit before working capital changes 148.9 130.0 Changes in working capital (43.3) (94.4) Cash generated from operations 105.5 35.6 Direct taxes paid (net of
Slide 13: Strong Standalone Balance Sheet with low leverage
Strong Standalone Balance Sheet with low leverage ASSETS (₹ In Crs) Sept-19 Mar-19 EQUITY AND LIABILITIES (₹ In Crs) Sept-19 Mar-19 NON-CURRENT ASSETS 898 726 EQUITY 899 843 Property, plant & equipment: Core Assets 391 369 Equity Share capital 68 68 Site Establishment 177 143 Other equity 831 775 Ot
Slide 14: Key Financial Indicators
Key Financial Indicators ROE ROCE 17.6% 14.2% 10.5% 11.3% 16.5% 16.2% FY18* FY19 H1FY20 FY18* FY19 H1FY20 ROE = PAT ÷ Net Worth ROCE = EBIT ÷ (Net Worth + Long Term Borrowings + Short Term Borrowings) Net Debt : Equity (x) Net Core Fixed Asset T/O (x) 0.15 4.9 4.4 4.3 0.10 FY18* FY19 H1FY20 -0.11 FY
Slide 15: Version 1.0: Private Sector Service Portfolio
Version 1.0 Private Sector Service Portfolio
Slide 16: Developing our service portfolio by capturing the complexities
… developing our service portfolio by capturing the complexities CAPACIT'E is unlike a commoditized construction company… We do our business DIFFERENTLY High Rise Super High Rise Gated Communities High Rise Commercial Office Super High Rise Multi Level Car Parks Gated Communities Hotels Gated Commun
Slide 17: ... & built a sustainable model
... & built a sustainable model Factory & Buildings (F&B) 1 Focus on High & Super High Rise buildings with high degree of complexity in Construction “We are a Solution Driven Company” Sustainable Model Continuous Approach 2 Continuously rebrain, rebuild, to become flexible & adaptable ensuring Susta
Slide 18: Version 2.0: Hybrid Service Portfolio
Version 2.0 ‘BEST OF BOTH WORLDS’ Hybrid Service Portfolio = Private + Public On A Long-term Growth Path…
Slide 19: Hybrid Service Portfolio = Private + Public
Hybrid Service Portfolio = Private + Public Enhances the multi fold construction Creating the Best of both Worlds – opportunity in the world’s fastest Focus on better working capital cycle & Government, Quasi Government and growing economy, for a young cash flows to continue Branded Real Estate Deve
Slide 20: Hybrid Service Portfolio – A New Dimension (1/2)
Hybrid Service Portfolio – A New Dimension (1/2) Average ticket Size of orders: Version 2.0 Version 1.0 Capture Large Opportunity in Organized F&B Focusing on Large Private Real Estate Developers FY14-17 - ₹ 100 to 375 Cr Segment including Government Orders FY18-H1FY19 - ₹ 480 to 1,000 Cr Top Client
Slide 21: Hybrid Service Portfolio – A New Dimension (2/2)
Hybrid Service Portfolio – A New Dimension (2/2) ▪ International Private Equity players/ Pensions Funds have tied up with leading developers to enhance their presence in India ▪ To name a few: • GIC with Magus Four Seasons/ Brigade • Blackstone with Embassy/ K Raheja • Canadian Pension Fund with Pir
Slide 22: Hybrid Service Portfolio – Builds Diversity
Hybrid Service Portfolio – Builds Diversity FY17 FY18 FY19* H1FY20* Public Public Public 0% 0% 13% Sector wise Split Public Private Private 48% 52% Private Private 100% 100% 87% Private Order Book Private Order Book ₹ 6,262 Crores ₹ 5,739 Crores + + Orderbook Size Private Order Book Private Order Bo
Slide 23: Strategic Priorities
Strategic Priorities Work with Large and Liquid Clients in the country, thereby strengthening our Revenue Visibility Marquee Clientele Deepen the culture of account driven Strong Cash Flow Focus leading to approach, in which we mine our clients shortening receivables, moderating for more projects, w
Slide 24: Standing at a point of Inflection (1/2)
Standing at a point of INFLECTION = CAPACIT'E VERSION 2.0 (1/2) CAPACIT'E at a point of INFLECTION Reducing Number of sites Concentration into larger but fewer sites 56 48 Higher revenue per site ~35 Control on fixed overheads Margin improvement Aug17 Sept19 Mar20 23 CAPACIT’E INFRASTRUCTURES LIMITE
Slide 25: Standing at a point of Inflection (2/2)
Standing at a point of INFLECTION = CAPACIT'E VERSION 2.0 (2/2) Provides visibility of robust financial performance, with sustainable positive operating cash flows and stable margin profile making CAPACIT'E an eminent company in the construction EPC space Large & Hybrid order book from elite cliente
Slide 26: Version 2.0: Focused Execution + Superior Technology
Version 2.0 ‘BEST OF BOTH WORLDS’ Focused Execution + Superior Technology On A Long-term Growth Path…
Slide 27: New Way of Execution… To Timely deliver Orders
New Way of Execution… To Timely deliver Orders Disruptions create Opportunities to Strengthen Business Model Quick decision making SOP’s Training Technology Centralization Maintenance of highest Quality standards Centralised our controls with the objective to Extend Processes to IT tools minimise di
Slide 28: Tata Trust Cancer Hospital (Varanasi)
Tata Trust Cancer Hospital (Varanasi) 27 CAPACIT’E INFRASTRUCTURES LIMITED
Slide 29: Our Creations (1/5)
Our Creations (1/5) Loadha The Park, Oberoi The Enigma, Nahar Exallibur, Mumbai MMR Mumbai MMR Mumbai MMR 28 CAPACIT’E INFRASTRUCTURES LIMITED
Slide 30: Our Creations (2/5)
Our Creations (2/5) Auris Serenity, Neelkanth, Paras Qartier, Mumbai MMR Mumbai MMR Delhi 29 CAPACIT’E INFRASTRUCTURES LIMITED
Slide 31: Our Creations (3/5)
Our Creations (3/5) Bharti Worldmark, Emmar Imperial, NCR NCR 30 CAPACIT’E INFRASTRUCTURES LIMITED
Slide 32: Our Creations (4/5)
Our Creations (4/5) Godrej Summit, Sir Ganga Ram Hospital – Multi Level Car Park, Wadhwa W54, Gurgaon Delhi Mumbai, MMR 31 CAPACIT’E INFRASTRUCTURES LIMITED
Slide 33: Our Creations (5/5)
Our Creations (5/5) Four Seasons, Sahana Sheth BEAU-MONTE, Brookfield, Mumbai MMR Mumbai MMR NCR 32 CAPACIT’E INFRASTRUCTURES LIMITED
Slide 34: Version 2.0: Strong Financials to Achieve Growth
Version 2.0 ‘BEST OF BOTH WORLDS’ Strong Financials to Achieve Growth On A Long-term Growth Path…
Slide 35: Next Phase of Growth…Ready for Execution…
Next Phase of Growth…Ready for Execution… Order Book to Sales Ratio Order Book (₹ in Cr.) Ex of MHADA (No. of years) 11,137 6.3 7,177 4.2 3.8 3.9 5,682 4,289 FY17 FY18 FY19 H1 FY20 FY17 FY18 FY19 H1FY20 34 CAPACIT’E INFRASTRUCTURES LIMITED
Slide 36: …and to deliver robust financial performance
…and to deliver robust financial performance Total Income (₹ in Cr.) EBITDA (₹ in Cr.) Cash PAT (₹ in Cr.) 198 285 1,825 161 228 212 1,360 135 121 1,140 152 831 FY17 FY18 FY19 H1FY20 FY17 FY18 FY19 H1FY20 FY17 FY18 FY19 H1FY20 35 CAPACIT’E INFRASTRUCTURES LIMITED
Slide 37: Profit & Loss Statement
Profit & Loss Statement Particulars (₹ In Crs) FY19 FY18 FY17 Revenue from Operations 1,788 1,336 1,125 Other Income 37 24 15 Total Income 1825 1,360 1,140 Cost of Material Consumed (Incl. Construction Expenses) 1,320 966 796 Employee Expenses 146 117 87 Other Expenses 73 49 46 EBITDA 285 228 212 EB
Slide 38: Balance Sheet
Balance Sheet ASSETS (₹ In Crs) Mar’19 Mar’18 Mar’17 EQUITY AND LIABILITIES (₹ In Crs) Mar’19 Mar’18 Mar’17 NON-CURRENT ASSETS 726 543 381 EQUITY 843 749 299 Property, plant & equipment 539 409 324 Equity Share capital 68 68 44 Capital work-in-progress 4 0 7 Intangible assets 2 1 2 Other equity 775
Slide 39: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : Capacit'e Infraprojects Ltd. Strategic Growth Advisors Pvt. Ltd. CIN - L45400MH2012PLC234318 CIN - U74140MH2010PTC204285 Mr. Alok Mehrotra (President, Corporate Finance) Mr. Shogun Jain / Mr. Pratik R. Shah ir@capacite.i
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