G R Infraprojects Ltd. · NSE:GRINFRA
G R Infraprojects — Q3 FY2023 Earnings Presentation
35 slides from G R Infraprojects's earnings presentation, Feb 14, 2023
Slide 1: Exchange filing cover letter
14th February 2023 To, BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza, Plot No. C‐1 Dalal Street, Fort G Block, Bandra‐Kurla Complex, Bandra(E) Mumbai – 400001 Mumbai ‐400051 Scrip Code: 543317 Symbol: GRINFRA Sub: Investor Presentation on the financial
Slide 2: Company Presentation Quarter 3 - Financial Year 23
G R Infraprojects Limited Getting People Places, Faster Company Presentation Getting People Places, Faster Quarter 3 - Financial Year 23
Slide 3: Context
Context Disclaimer Imphal - Moreh Project Page 3 1 Highlights: Q3 FY 23 2 Page 5 What we do and key milestones 3 Page 17 Overview – Historical data 4 (Financial & Operational) Page 24 5 Awards Page 32 2
Slide 4: Disclaimer (1/2)
Disclaimer (1/2) This presentation is issued by G R Infraprojects Limited (the “Company”) for general information purposes only, without regard to specific objectives, suitability, financial situations and needs of any particular person. This presentation does not constitute or form part of any offe
Slide 5: Disclaimer (2/2)
Disclaimer (2/2) The information contained in these materials has not been independently verified. None of the Company, its subsidiaries, its joint ventures, its directors or affiliates or associates, as applicable, nor any of its or their respective employees, advisers or representatives or any oth
Slide 6: Highlights: Q3 - FY 23
Highlights: Q3 - FY 23 Sidhi Ganeshpur - Sansarpur Project 5
Slide 7: QoQ Highlights YoY Highlights
Q3 - FY 23 Total Income (Rs in Mn) EBITDA Margin (%) & EBITDA (Rs in Mn) PAT Margin (%) & PAT (Rs in Mn) 9.17% QoQ Highlights 6.12% 14.63% 14.58% 9.25% 6.49% 5.97% 19,409 18,291 2,600 2,768 1,643 1,741 Q2 2023 Q3 2023 Q2 2023 Q3 2023 Q2 2023 Q3 2023 Total Income (Rs in Mn) EBITDA Margin (%) & EBITDA
Slide 8: Nine Months Ended Financial Year 23
Nine Months Ended Financial Year 23 Total Income (Rs in Mn) EBITDA (Rs in Mn) 75000 15000 70000 15.54% 16.63% 65000 62787 12500 60000 57504 55000 10232 50000 10000 45000 8781 40000 7500 35000 30000 25000 5000 20000 15000 2500 10000 5000 0 0 Total Income EBITDA Nine Months FY 22 Nine Months FY 23 Nin
Slide 9: Q3 FY 23 Working Capital and Debt to Equity
Q3 FY 23 Net Working Capital Days Debt to Equity Ratio & Net Debt to Equity Ratio (including Mob. Advances) 1.20 1.13 1.11 1.14 1.06 85 Days 82 Days 1.00 0.95 0.90 46 0.96 45 0.91 0.91 0.89 0.80 0.83 0.81 39 39 39 37 0.60 31 31 0.40 0.34 0.31 0.27 0.28 0.24 0.23 0.20 0.23 0.21 0.22 0.17 0.18 0.15 0.
Slide 10: Standalone Profit and Loss Statement (Rs in Millions)
Standalone Profit and Loss Statement (Rs in Millions) A B C D E F Particulars Q3 Q2 Q3 Nine Months Nine Months FYE FY 22-23 FY 22-23 FY 21-22 FY 22-23 FY 21-22 2021-22 Income Revenue from operations 18,988.11 17,771.74 18,184.43 61,526.69 56,510.99 79,191.75 Other income 421.33 519.02 351.44 1,259.8
Slide 11: Consolidated Profit and Loss Statement (Rs in Millions)
Consolidated Profit and Loss Statement (Rs in Millions) A B C D E F Particulars Q3 Q2 Q3 Nine Months Nine Months FYE FY 22-23 FY 22-23 FY 21-22 FY 22-23 FY 21-22 2021-22 Income Revenue from operations 21,918.79 21,363.60 19,552.99 70,203.92 60,622.36 84,583.48 Other income 174.16 252.89 205.36 564.6
Slide 12: Consolidated Debt
Debt Breakup (Fund Based) as on December 31, 2022 Particulars Rs. In Million STANDALONE DEBT Debentures 7,884.80 Standalone Debt 26% Term Loan 578.65 DEBENTURES Working Capital 0.41 TERM LOAN Mobilization Advance 0% 2,911.32 WORKING CAPITAL Total Debt 11,375.18 5% MOBILISATION ADVANCE #Cash and Bank
Slide 13: Development during the Year – Execution of Concession/ Share Purchase Agreements & Financial Closures
Development during the Year – Execution of Concession/ Share Purchase Agreements & Financial Closures Date of Concession Date of Financial S. No. Name of SPV Agreement / Share Closure Purchase Agreement 1 GR Ujjain Badnawar Highway Private Limited May 10, 2022 August 8, 2022 2 GR Govindpur Rajura Hi
Slide 14: Annuities received since FY 21 till FY 23
Annuities received since FY 21 till FY 23 9,000 Annuities received (Rs. Mn) 8,000 7728 (Rs. In Millions) 971 6926 7,000 Type of Project FY21 FY22 9MFY23 376 569 188 6,000 NHAI HAM 1,761 6,381 6,170 5,000 NHAI Annuity 376 376 188 4,000 Others 817 971 569 2953 6,381 6,170 3,000 Total 2,953 7,728 6,926
Slide 15: Portfolio of Road / Transmission Projects (Operational)
Portfolio of Road / Transmission Projects (Operational) Reengus-Sikar (BoT) Nagaur-Mukundgarh (HAM) Phagwara-Rupnagar (HAM) Porbandar-Dwarka (HAM) Handia-Varanasi (HAM) Akkalkot-Solapur (HAM) Sangli-Solapur (HAM) Gundugolanu-Devarapalli (HAM) Dwarka-Devariya (HAM) Note: Appointed Date of Bamni-MH/TG
Slide 16: Portfolio of Road / Transmission Projects (Under Construction)
Portfolio of Road / Transmission Projects* (Under Construction) Aligarh-Kanpur (HAM) Ludhiana-Rupnagar (HAM) Ena-Kim (HAM) Ujjain-Badnawar (HAM) Shirsad-Masvan (HAM) Anjar Bhuj (HAM) Bilaspur-Urga (HAM) Madanapalli-Pileru (HAM) Galgalia-Bahadurganj (HAM) Bandikui-Jaipur Corridor (HAM) Bahadurganj-Ar
Slide 17: Robust Order Book
Robust Order Book Order book as on 31st December 2022 is Rs 1,40,733.59 Million Project Mix Client Wise Distribution State Wise Distribution 1% 2% 4% 2% 4% 2% 3% 11% 6% 2% Andhra Pradesh 11% 9% Bihar Chhatisgarh 10% 8% Gujarat EPC NHAI Madhya Pradesh HAM REC Maharashtra Punjab Railways 22% OTHERS Ra
Slide 18: What we do & Key Milestones
What we do & Key Milestones 17
Slide 19: GRIL – Our Business
GRIL – Our Business TRANSMISSION RAILWAYS & EMULSION/ HIGHWAYS METRO PMB ROAD SIGNAGES AND MARKING PAINT BRIDGES METAL CRASH BARRIER 18
Slide 20: Key Milestones
Key Milestones 2021- • Achieved PCOD for first NHAI HAM 2022 project, Phagwara – Rupnagar • First HAM project awarded with Bid Project Cost • Successful listing of the Company on of ₹ 13,670.0 Mn 2016- BSE and NSE on July 19, 2021 • Divestment of equity stake in - Jodhpur Pali 2019 • Entry into Tran
Slide 21: Overview – GRIL Snapshot
Overview – GRIL Snapshot An Integrated EPC Company, with proven track record of timely project execution over last 25 years. Presence in 15 States 4 Manufacturing Units 8000+ plant & 16,000+ employees equipment Dedicated repair & Rating AA (Stable) maintenance workshop CRISIL & CARE All figures are
Slide 22: Committed to growth, with purpose
Committed to growth, with purpose FOCUSED MARKET Construction STRATEGIES Environment We understand the nations We show our care for the need, design it through environment through CSR perfection and build it to GROWING initiatives FOCUSED EPC EXPAND THE dreams PORTFOLIO TOGETHER WITH PLAYER OUR NATI
Slide 23: Strong Board with diverse experience
Strong Board with diverse experience Vinod Kumar Agarwal : Chairman and Wholetime Director He has over 25 years of experience in the road construction industry. He has been a Director on our Board since incorporation of our Company and has been instrumental in the growth of our Company. He looks aft
Slide 24: Strong Board with diverse experience
Strong Board with diverse experience Rajendra Kumar Jain : Non- Executive Independent Director He holds a bachelor’s degree in commerce from Rajasthan University and a master’s degree in commerce (specialising in business administration) from Maharshi Dayanand Saraswati University, Ajmer. He is also
Slide 25: Overview- Historical Data (Financial & Operational)
Overview- Historical Data (Financial & Operational) 24
Slide 26: Overview- Historical Financial Data
Overview- Historical Financial Data Revenue From Operations (Rs in Mn) EBITDA* (%) / EBIDTA (Rs in Mn) 21.42% 21.81% 79,192 19.50% 19.82% CAGR: 17.56% 72,445 26.34% CAGR: 22.57% 60,278 14,379 14,135 13,350 49,502 10,748 31,081 6,263 FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2018 FY 2019 FY 2020 FY
Slide 27: Overview- Historical Financial Data
Overview- Historical Financial Data PAT (Rs in Mn) / PAT Margin (%) Net Cash Flow (Used In)/ from operating Activities (Rs in Mn) 8,312 12.63% 11.87% 11.25% CAGR: 10.59% 17.50% 6,516 7,608 5,606 7,806 9.45% 5,957 6,888 4,199 3,992 (41) FY 2018 FY 2019 FY 2020 FY 2021 FY 2022 FY 2018 FY 2019 FY 2020
Slide 28: Overview- Historical Financial Data
Overview- Historical Financial Data Net Debt/ Equity & Net Debt Fixed Assets Turnover (x) Return Ratios (%) /EBITDA (x) 6.54 6.27 0.88 0.82 6.26 6.35 0.83 32.4% 5.73 0.70 29.8% 29.0% 29.9% 27.7% 24.3% 26.9% 24.1% 0.42 0.42 20.5% 0.36 0.33 19.1% 0.23 0.20 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21
Slide 29: Overview- Historical Operational Data
Overview- Historical Operational Data Employee Count Order Book* (Rs.in Mn) 170,526 148,799 17721 131,039 16333 118,648 117,143 12956 11149 7321 FY18 FY19 FY20 FY21 FY22 FY18 FY19 FY20 FY21 FY22 Employee Count Order Book *excluding GST 28
Slide 30: Strong focus on Quality Execution
Strong focus on Quality Execution Design and engineering (Centralized): Continuous improvements are made on the designs in coordination with the Project Management Team (PMT) Manufacturing (In-house across the country): Supply is synchronized with site progress and product specifications are finaliz
Slide 31: Leveraging operating efficiencies from vertical integration
Leveraging operating efficiencies from vertical integration THREE KEY STEPS IN VALUE CHAIN IN-HOUSE MANUFACTURING FACILITIES PMB, Emulsion facility & Enables efficient Road Signages, Udaipur. In-House Design & Capacity: 30,000MT designs & quick Engineering Team Emulsion Facility, changes Sandila Cap
Slide 32: Strong Pan-India Presence
Strong Pan-India Presence MARKET PRESENCE IN 19 STATES OF INDIA HIGHLIGHTS • Track-record of executing national and state highways, bridges, culverts, flyovers, tunnels and rail over-bridges 3 2 1 0 2 0 • Since 2006, has executed more than 100 road construction 1 0 5 7 projects and more than 20 HAM
Slide 33: Awards and Accolades
• Awards and Accolades 32
Slide 34: Awards and Accolades
Awards and Accolades Best Construction Best Construction Achievement Award for Achievement Award for Project, Faridkot- Project, Jaisalmer- Best Construction Best Construction Projects Kotakpura Barmer Projects Handia Varanasi Varanasi Ring Road 2021 Fastest Growing Construction Medal and Scroll of
Slide 35: Thank You
G R Infraprojects Limited Getting People Places, Faster Company Presentation Getting People Places, Faster Thank You Anand Rathi, CFO G R Infraprojects Limited Second Floor, Novus Tower, Plot No.18, Sector-18, Gurugram, Haryana-122015, +91 124 643 5000