Dilip Buildcon Ltd. · NSE:DBL
Dilip Buildcon — Investor Day (April 2019)
71 slides from Dilip Buildcon's investor day presentation, Apr 5, 2019
Slide 1: Filing cover letter to stock exchanges
I DIIJPBUILDCONLIMITED INFRASTRUCTURE & BEYOND Date: OS.04.2019 To T6 BSEUmtEd Nadonsl Stoc* F.xchange oflndia Ltd. PhirueJaere€btoy f ol.,ers Ex.taDgc ptaza, C-I, Block c, DahlStreet Bandra Xurla Compler .l{umhat- {O0OO1 Badra tg) Scrip Code . 540047 ttumbal - 40O 0S1 Scripcode - DBL i I Dear Sir/M
Slide 2: Investor Day 2019 Presentation
Dilip Buildcon Limited INVESTOR DAY 2019 P R E S E N TAT I O N
Slide 3: Safe Harbour
All statements included or incorporated by reference in this presentation, other than statements or characterizations of historical fact, are forward-looking statements. These forward-looking statements are based on our current expectations, estimates and projections about our industry, management's
Slide 4: Table of Content
Dilip Buildcon Limited Table of Content 01 02 03 Company Key Business Industry Overview Strength Overview Page : 04 Page : 20 Page : 31 04 05 06 Investment Financial SAP Rationale Highlights Implementation Page : 37 Page : 39 Page : 63 3
Slide 5: Company Overview
Dilip Buildcon Limited Company Overview 4
Slide 6: Company Overview
Company Overview Pan India presence Revenue growth Diversified areas Largest owner of Largest employer in Best project executors Early completion bonus 17 states CAGR of 32% roads, bridges, Construction equipments construction industry ~90% projects ₹ 4,337 Mn * buildings, dams, Over 11,000 Over 35,
Slide 7: Pan India Presence
Pan India Presence 3 States 4 States 6 States 14 States 15 States 16 States 17 States FY11 FY12 & FY 13 FY14 FY15 FY16 FY17 FY 18 & 19 6 Dilip Buildcon Limited | Investor Day Presentation | April 2019
Slide 8: Business Division
Business Division ROADS & HIGHWAYS IRRIGATION URBAN DEVELOPMENT MINING METRO SPECIAL BRIDGES AIRPORT TUNNEL 7 Dilip Buildcon Limited | Investor Day Presentation | April 2019
Slide 9: Mining Business - Overview
Mining Business - Overview Dilip Buildcon Limited (DBL) has a Nigahi OCP OB removal MDO Order Book- Rs. ~32100 Cr. decent experience in stone contract (132.46 MBCM) Contract (annual revenue of Rs. mining and crushing with a ~580 Cr. p.a. for contract production of over 100K Metric duration of 55 yea
Slide 10: Mining Business – Value Chain
Mining Business – Value Chain MINING BUSINESS VALUE CHAIN Pre-Development Mine Development Operations Market •Locate •Land Acquisition •Drilling & Blasting •Sales to the End (Reconnaissance) •R&R •Mining of Mineral User •Evaluate •Mines Infra • OB Excavation & •End Use Plan (Exploration & Developmen
Slide 11: Mining Business – Growth and Key Drivers
Mining Business – Growth and Key Drivers KEY DRIVERS OF DIVERSIFICATION o Decent Experience in Stone Mining and Crushing of ~100,000 Metric Tons (₹ mn) per day o Experience of Earth Work Excavation Activities 2,834 CAGR o Cost-effective procurement of Equipment 41% 2,450 2,178 o Experience of Equipm
Slide 12: Projects won during FY19 till date
Projects won during FY19 till date Contract Value Project Name Type State Name of Employer excluding GST LOA Date Quarter (₹ mn) Bellary to Byrapura Section of NH-150A HYBRID Karnataka NHAI 8,875 01.06.2018 Q1 Nagpur Mumbai Super Communication Expressway EPC Maharashtra MSRDC 16,980 30.08.2018 North
Slide 13: Projects Completed during FY19 till date
Projects Completed during FY19 till date Scheduled Actual Early Type of Cost of work Date of Name of the Employer Project Name State Length (km) Completion Completion work (₹ mn) Completion Date Days with EOD NHAI Guna-Biaora MP Toll 7,150 93.50 05.03.2019 18.06.2018 260 NHAI Sargaon-Bilaspur Chhatt
Slide 14: Status of under construction divested HAM projects
Status of 6 under construction divested HAM projects Plan as per CA Milestone Achieved Early % of work Payment Milestone Appointed Sr.No Project Achieved done as on (Grant) Date Date Days Date Days (Days) 31.03.2019 Lucknow 5th PM, 90% Physical 1 08.05.2017 20.07.2019 803 17.01.2019 619 184 99% Sult
Slide 15: Key Outstanding Hybrid Projects – Recently Won and Financially Closed
Key Outstanding Hybrid Projects – 12 Recently Won and Financially Closed Financial Expected Awarding Appointed Total Project Project name State Closure Appointed Length (Kms) Equity Authority Date Cost Status Date DBL Chandikhole Bhadrak Highways Pvt. Ltd. Odisha NHAI Achieved 16.12.2018 - 74.50 1,2
Slide 16: Status of Recently Won and Financially Closed HAM Projects
Status of Recently Won and Financially Closed HAM Projects Plan as per CA Milestone Achieved Payment Early % of work Appointed Sr.No Project Milestone Achieved done as on Date (Grant) Date Days Date Days (Days) 31.03.2019 1st PM, 10% DBL Anandpuram Anakapalli Highways 1 Physical 04.01.2019 20.06.201
Slide 17: Key Outstanding EPC Projects
Key Outstanding EPC Projects Outstanding Schedule Date % of work Project name Type Contract Value Order Book as Length (Kms) LOA Date Date of Start of Completion done as on on 31.12.2018 with EOD 31.03.2019 Vijayawada–Machilipatnam Road 7,407.00 929.88 64.61 19.01.2016 24.11.2016 21.05.2019 93% Mahu
Slide 18: Key Outstanding EPC Projects – Recently Won
Key Outstanding EPC Projects – Recently Won Outstanding Schedule Date of Project name Type Contract Value Order Book as on Length (Kms) LOA Date Date of Start Completion with 31.12.2018 EOD Seoni–MP/MH Border Road 6,518.57 5,764.35 29.29 17.01.2018 10.08.2018 08.08.2020 Karodi to Telwadi Road 5,044.
Slide 19: Urban Development and Mining Projects
Urban Development and Mining Projects Urban Development Outstanding Order Schedule date of Project name Type Contract Value Book as on LOA Date Date of Start Completion 31.12.2018 Parallel Taxi Track and associated civil & electrical works at Urban Dev 1,250.10 656.54 May-17 May-17 May-19 Dabolim Ai
Slide 20: Irrigation and Metro Projects
Irrigation and Metro Projects Irrigation Outstanding Order Schedule date of Project name Type Contract Value Book as on LOA Date Date of Start Completion 31.12.2018 Navnera Barrage Irrigation 5,366.25 5,366.25 Oct-18 Oct-18 Oct-22 Metro Outstanding Order Schedule date of Project name Type Contract V
Slide 21: Key Business Strengths
Dilip Buildcon Limited Key Business Strengths 20
Slide 22: Demonstrated execution track-record
Demonstrated execution track-record (₹ mn) State Completed Ongoing Gross AP 8,616 34,180 Completed projects Constructed 14,000+ CG - 9,846 across geographies and lane kms of roads segments before time in GOA - 15,281 India GUJ 9,814 - Himachal Pradesh Punjab Haryana 60 4,577 Haryana HP 1,187 - Creat
Slide 23: With an unique & established strategy
With an unique & established strategy Project Selection and Management Project Selection and Management Cost-effective procurement Equipment Equipment tracking and tracking and management management for efficiency for efficiency Efficient Project tracking Robust Careful project Clustering for to min
Slide 24: Why We have been successful in Infra industry
Focused on due diligence & execution High quality execution from pre-bidding to actual construction In-house Capabilities Well trained employees and equipment ownership Why We have been successful in Infra No dependence on sub-contractors industry which is Vertically integrated business model known
Slide 25: Equipment Ownership For better execution
Modern equipment fleet of over 11,000 vehicles and other construction equipment Benefits Ensures availability, quick mobilization, control over execution Eliminate delays and cost over-runs due to untimely break-downs or non-availability Higher execution efficiency Equipment Composition Vehicle and
Slide 26: In-house Execution Team – More than 35000 employees
In-house Execution Team – More than 35000 employees 5 Top Management Senior Management (General Manager & Above) 47 DGM, AGM, Sr. Project Manager, One of the largest Project Managers, Senior Managers, employers in the 324 Functional / Segment Heads construction industry in India Engineers , Surveyor
Slide 27: In-house Execution Team for better execution
In-house Execution Team for better execution Plant & Machinery Asset Management Procurement – Mobile Crusher General Manager General Manager Equipment & Spares 13 Fixed Crusher General Manager Asset Deployment Senior Manager 218 Concrete Plant General Manager Asset Management General Manager Mechani
Slide 28: In-house Execution Team for better execution
In-house Execution Team for better execution Business Development, Survey, Design & Contract Management, Legal, Corporate Quality Affairs & EHS Road, Irrigation, Associate Vice Contract Tunnel, Special President Bridges President Management 13 Associate Vice Contract Coal Mines General Manager Presi
Slide 29: In-house Execution Team for better execution
In-house Execution Team for better execution Structure Purchase, Store, Billing & Planning Structure Vice President Store General Manager 13 Structure General Manager Store Audit Asst. Gen. Manager 218 Irrigation Projects Asst. Gen. Manager Purchase - Civil Senior Manager Billing & Planning - Piling
Slide 30: In-house Execution Team for better execution
In-house Execution Team for better execution HR, Information Technology & Finance & Accounts Secretarial Finance & Associate Vice CFO Human Resource Accounts President 13 Finance President Information Asst. Gen. Manager 218 Technology Finance General Manager Company Secretary Company Secretary Accou
Slide 31: Backward Integration
Backward Integration Pipe Rolling Electric Pole Bus Shelter Machine pto Foundry Ø200 X 8 Mm Pole blank cutting machine Metal Beam Metal Beam Bearing & 14MTR X 3 MTR Crash Barrier Crash Barrier Expansion Joint Gantry plazma 30 Dilip Buildcon Limited | Investor Day Presentation | April 2019
Slide 32: Industry Overview
Dilip Buildcon Limited Industry Overview 31
Slide 33: Industry Overview
Industry Overview LARGEST NETWORK BUDGET ALLOCATION PPP MODEL OVERSEAS INVESTMENT India has second largest During FY19, Government o As on September 2017, o CPPIB (Canada Pension Plan network in the world, of India allocated Rs. 312 Projects were Investment Board) plans to invest US$ 322Mn for spann
Slide 34: Road Network in India
Road Network in India ROADs Total Length: 5.5 million Kms State Highways National Highways Other Roads o Total Length: 1,55,222 Kms o Total Length: 1,20,543 Kms o Total Length: 5,207,044 Kms o Share: 3% of the total Roads of o Share: 2% of the total Roads of o Share: 95% of the total Roads India Ind
Slide 35: Indian Roadway Expansion
Indian Roadway Expansion Highway Construction in INDIA (Km) 12000 CAGR 23.25% 9829 10000 8231 8000 6061 5759 6000 4260 4410 4000 2000 0 FY14 FY15 FY16 FY17 FY18 FY19* Source: Ministry of External Affairs, Aranca Research, Crisil o Highway Construction in India Increased at 23.25% CAGR between FY14-1
Slide 36: Edging India
Edging India 300 HIGHWAYS PROJECT BY GREATER CONNECTIVITY MARCH 2019 GROWTH IN PRODCUTION OF COMMERCIAL VEHICLES Edging India 2,00,000 KM NATIONAL HIGHWAY BY 2022 100% FDI UNDER AUTOMATIC GROWING PPP MODEL ROUTE 35 Dilip Buildcon Limited | Investor Day Presentation | April 2019
Slide 37: Growth Drivers
Growing Demand Rise in 2 and 4 wheeler Strong trade and tourist Increasing freight traffic vehicles flows between states Inviting Policy Support Growth Drivers Greater government focus on infrastructures Clear policy framework Tax sops, FDI, FII Resulting Increasing investments NHAI implementing one
Slide 38: Investment Rationale
Dilip Buildcon Limited Investment Rationale 37
Slide 39: Investment Rationale
Investment Rationale Execution track Sustainable growth Robust order book In-house No dependence on Experienced Process and system record Capabilities sub-contractors leadership team driven company Strong performance Diversification by supported by with high reliance High quality execution during la
Slide 40: Financial Highlights
Dilip Buildcon Limited Financial Highlights 39
Slide 41: Results Summary – Q3FY19
Results Summary – Q3FY19 Revenue (₹ mn) EBITDA (₹ mn) Profit after Tax (₹ mn) 28% 26% 2,086 24,926 27% 1,650 19,478 4,461 3,504 Q3FY18 Q3FY19 Q3FY18 Q3FY19 Q3FY18 Q3FY19 Contract Revenue Breakup (₹ mn) Roads & Bridge Irrigation Urban Development Mining 29% 1374% 30% -100% -55% % Q3FY19 21,807 - 236
Slide 42: Results Summary – 9MFY19
Results Summary – 9MFY19 Revenue (₹ mn) EBITDA (₹ mn) Profit after Tax (₹ mn) 26% 35% 5,442 65,746 26% 51,994 11,822 4,029 9,417 9MFY18 9MFY19 9MFY18 9MFY19 9MFY18 9MFY19 Contract Revenue Breakup (₹ mn) Roads & Bridge Irrigation Urban Development Mining 30% 1100% 12% -71% -55% 9MFY19 57,905 376 432
Slide 43: Result Update - Standalone
Result Update - Standalone (₹ mn) Particulars Q3FY19 Q2FY19 Q3FY18 YoY (%) 9MFY19 9MFY18 YoY (%) Revenue 24,926 16,365 19,478 27.97% 65,746 51,994 26.45% Operating expenses 20,465 13,422 15,974 28.11% 53,924 42,578 26.65% EBITDA 4,461 2,943 3,503 27.33% 11,822 9,417 25.54% EBITDA Margin (%) 17.90% 1
Slide 44: Standalone Profit & Loss - Quarterly
Standalone Profit & Loss - Quarterly (₹ mn) Standalone Particulars Highlights Q3FY19 Q3FY18 Revenue from Operations 24,872 19,421 • Revenue increased by 28% Y-o-Y Other income 54 56 Total Income 24,926 19,478 • Reduction in Finance cost from 6.00% Expenses to 5.79% in proportion to top line Cost of
Slide 45: Standalone Profit & Loss – Nine Monthly
Standalone Profit & Loss – Nine Monthly (₹ mn) Standalone Particulars Highlights 9MFY19 9MFY18 Revenue from Operations 65,473 51,880 • Revenue increased by 26% Y-o-Y Other income 273 114 Total Income 65,746 51,994 • Reduction in Finance cost from 6.51% Expenses to 5.89% in proportion to top line Cos
Slide 46: Standalone Balance Sheet - Quarterly
Standalone Balance Sheet - Quarterly (₹ mn) Standalone Particulars Q3FY19 Q2FY19 Q3FY18 ASSETS Non-current assets (a) Property, plant and equipment 18,505 17,814 17,082 (b) Other Intangible assets 22 24 32 (c) Intangible assets under development 241 208 - (d) Financial assets (i) Investments 2,873 2
Slide 47: Standalone Balance Sheet - Quarterly
Standalone Balance Sheet - Quarterly (₹ mn) Standalone Particulars Q3FY19 Q2FY19 Q3FY18 EQUITY AND LIABILITIES Equity (a) Equity share capital 1,368 1,368 1,368 (b) Other equity 28,480 26,394 21,026 Total equity 29,848 27,762 22,394 Liabilities Non-current liabilities (a) Financial liabilities (i) B
Slide 48: Net Debt to Equity Ratio - Quarterly
Net Debt to Equity Ratio - Quarterly 1.43 Net Debt to Equity ratio 1.35 1.35 1.32 1.30 at a healthy position 1.24 1.14 1.14 1.16 31.12.2016 31.03.2017 30.06.2017 30.09.2017 31.12.2017 31.03.2018 30.06.2018 30.09.2018 31.12.2018 Rs. Mn 31.12.2016 31.03.2017 30.06.2017 30.09.2017 31.12.2017 31.03.2018
Slide 49: Net Debt to Equity Ratio – Quarterly (Working Capital & Equipment Debt)
Net Debt to Equity Ratio – Quarterly (Working Capital & Equipment Debt) 0.85 0.87 0.81 0.79 0.80 0.77 0.64 0.69 0.70 0.57 0.53 0.48 0.53 0.50 0.47 0.50 0.45 0.46 1.43 1.32 1.30 1.35 1.35 1.24 1.14 1.14 1.16 31.12.2016 31.03.2017 30.06.2017 30.09.2017 31.12.2017 31.03.2018 30.06.2018 30.09.2018 31.12
Slide 50: Net Debt to Equity Ratio – Yearly
Net Debt to Equity Ratio – Yearly 2.24 2.27 Net Debt to Equity ratio is on a downward trend with increase in revenue and will continue to 1.32 improve further 1.14 1.16 31.03.2015 31.03.2016 31.03.2017 31.03.2018 31.12.2018 Rs. Mn 31.03.2015 31.03.2016 31.03.2017 31.03.2018 31.12.2018 Net Debt 19,52
Slide 51: Revenue vis-à-vis Net Debt
Revenue vis-à-vis Net Debt Revenue grown around 4 times whereas total net debt increased by only 1.7 times (₹ mn) 91,366 77,614 51,091 41,011 26,301 34,749 27,936 24,068 24,497 19,528 31.03.2015 31.03.2016 31.03.2017 31.03.2018 31.12.2018 TTM Revenue Net Debt Rs. Mn 31.03.2015 31.03.2016 31.03.2017
Slide 52: Higher Debt – Myth or Realty
Higher Debt – Myth or Realty • Gross and Net debt equity ratio has improved in Q3 2018-19 over Q2 2018-19 • Gross debt and net debt in absolute numbers, however, have increased due to delay in appointment date for 12 HAM and 7 EPC road projects won recently which led to delay in receipt of mobilizat
Slide 53: Asset Utilisation
Asset Utilisation Asset Utilisation increased due to superior execution and operational excellence 4.71 4.76 4.87 4.24 3.04 2.89 2.21 31.03.2015 31.03.2016 31.03.2017 31.03.2018 30.06.2018 30.09.2018 31.12.2018 Rs. Mn 31.03.2015 31.03.2016 31.03.2017 31.03.2018 30.06.2018 30.09.2018 31.12.2018 TTM R
Slide 54: Capital Expenditure
Asset utilization to revenue has increased from 2.21 as on 31.03.2015 to 4.87 as on 31.12.2018 which shows increase utilization of assets due to superior execution and operation excellence Company has incurred capital expenditure of Rs. 2,544 Mn during 9M FY19 Capital Expenditure Company will furthe
Slide 55: Working Capital
Working Capital (₹ mn) Standalone Particulars Q3FY19 Q2FY19 Q3FY18 Debtors Days 49 53 62 Inventories Days 89 91 102 Total 138 144 164 Less: Creditors Days 55 48 61 Working Capital Days 83 96 103 Inventory Stock 20,523 20,301 15,326 WIP 1,689 1,042 4,172 Total 22,212 21,343 19,498 Working Capital Day
Slide 56: Net Working Capital Days – Quarterly
Net Working Capital Days – Quarterly 160 137 140 127 127 131 119 120 119 113 103 103 96 100 89 83 102 85 80 79 77 73 71 72 63 61 62 61 60 95 91 89 40 37 86 65 71 59 60 55 53 48 49 20 0 31.12.2016 31.03.2017 30.06.2017 30.09.2017 31.12.2017 31.03.2018 30.06.2018 30.09.2018 31.12.2018 Debtor Days Inve
Slide 57: Key Highlights – Working Capital
Key Highlights – Working Capital Improvement in Provision for doubtful debtors against working capital private debtors made Inventory levels due to better during 9M 2018-19 of are improving in collection from Rs. 1,100 Mn and spite of higher customers on complete provisioning level of has been made
Slide 58: Income Tax
Income Tax Company’s normal tax will still be lower than Minimum Alternative Tax (MAT) for Effective tax rate for 9M 2018-19 is 3% FY 2018-19 Effective tax rate for FY 2018-19 likely be MAT credit unutilized as on 31st in the range of 3-8% as it depends on December 2018 is Rs. 3867 Mn profits from p
Slide 59: Order Book
Order Book Order Book (₹ mn) *Excluding GST 238,881 231,002 175,683 * 107,787 74,747 51,609 FY 14 FY 15 FY 16 FY 17 FY18 Q3FY19 Order Book – By Sector 187,547 81.19% 33,182 5,366 14.36% 657 4,250 0.28% 1.84% 2.32% Roads, Highways & Bridges Mining Urban Development Metro Irrigation 58 Dilip Buildcon
Slide 60: Order Book – By Client
Order Book – By Client 15% of the order book from the state 85% of the order book from the Central Government government 67% 6% 12% 6% 2% 4% 2% 3% 0.28% NHAI MORTH NORTHERN SINGARENI COLLIERIES MAHANADI GOVT(UNDERTAKING) AAI PUNJAB STATE STATE COALFIELDS COMPANY COALFILEDS CORPORATION 59 Dilip Build
Slide 61: Order Book – Geographical Split
Road (Central Govt.) – 5% Haryana Metro (State Govt.) – 2% 0% Mining (Central Govt.) – 6% West Bengal Chhatisgarh Odisha 1% 0% 8% Jharkhand Maharashtra 5% Maharashtra 27% Karnataka Telangana Uttar Pradesh 5% Andhra Pradesh Order Book – Goa 4% Madhya Pradesh Geographical Goa Split Telangana Madhya Pr
Slide 62: Monetisation of Road Assets
Monetisation of Road Assets (₹ mn) Q4 18-19 till FY17-18 9M 18-19 Q4 18-19 Q1 19-20 Q2 19-20 Particulars Total 07.02.19 Actual Actual Estimated Projected Projected Actual Money to be received by Dilip Buildcon 11,800 5,700 1,610 1,840 70 2,370 210 Limited from Shrem Group Direct Investment in SPV’s
Slide 63: Equity commitment for recently won HAM projects
Equity commitment for recently won HAM projects (₹ mn) FY 18-19 till FY 18-19 Q1 FY 19-20 Q2 FY 19-20 Q3 FY 19-20 Q4 FY 19-20 FY 19-20 FY 20-21 Particulars Requirement 07.02.18 Q4 Estimated Estimated Projected Projected Projected Projected Projected Projected Actual Investment for 12 new HAM 15,570
Slide 64: SAP Implementation
Dilip Buildcon Limited SAP Implementation 63
Slide 65: SAP Overview
SAP Overview SAP (Systems, Applications & Product) is an ERP-Enterprise Resource Planning Application Sales & Distribution Document Management (SD) System (DMS) Human Resource Business Intelligence & Business Management (HCM) Warehouse (BI & BW) SAP is used to support Business and integrate every fu
Slide 66: SAP – Benefits
SAP – Benefits Simplified and Integrated Business Reports / User Better tool for Single source of data Mobility Efficient operations Technology Processes defined reports employees Instead of having data Instead of having Instead of chasing Instead of working on Instead of managing Instead of doing m
Slide 67: SAP - Key Benefits: HR, Plant Maintenance
SAP - Key Benefits AREA BENEFIT Visibility of Employee Information to relevant Stakeholder for Operational Central Employee Database With Real Time Visibility & Strategic decision making HR & PAYROLL Reduction in cycle time from Time Recording to Payroll processing with Integrated Payroll With Accou
Slide 68: SAP - Key Benefits: Procurement, Finance
SAP - Key Benefits AREA BENEFIT PROCURMENT – MATERIALS & Reduction in duplicacy of Master data Centralised Master Data Management Increased accuracy in inter-module transactional data SERVICES Increased responsibility on respective department heads Central Purchasing With Approval Based Procurement
Slide 69: SAP - Key Benefits: Contracting
SAP - Key Benefits AREA BENEFIT PROJECT SYSTEM & DOCUMENT Project Cost Planning & Schedule Improved planning of resource requirement at respective stage Project cost control within budgeted amount MGMT SYSTEM Project Controls For Quantity & Cost Availability of project actual cost with bid value & b
Slide 70: SAP - Key Benefits: Production Plant
SAP - Key Benefits AREA BEENFIT PRODUCTION PLANT (MINES, CRUSHER, RMC, HMP) Real time visibility of cost per unit of production for each department Production Cost Analysis Single source of truth Production Controls With Planning & Raw Material Proper consumption of Raw Material Quality Management O
Slide 71: Thank You
THANK YOU Dilip Buildcon Limited Plot No. 5, Inside Govind Narayan Singh Gate, Chuna Bhatti, Kolar Road, Bhopal Madhya Pradesh - 462 016 0755 - 4029999 Ronak Saraf 0755 - 4029998 S-ANCIAL GLOBAL SOLUTIONS PVT. LTD. (Investor Relations) db@dilipbuildcon.co.in 215, Shivshakti Industrial Estate, J. R.