Va Tech Wabag Limited · NSE:WABAG
Va Tech Wabag — Q1 FY2021 Earnings Presentation
24 slides from Va Tech Wabag's earnings presentation, Sep 15, 2020
Slide 1: Exchange filing cover letter
ABAG An ISO 9001 Company 15' September 2020 National Stock Exchange of India Limited BSE Limited, Exchange Plaza, Piot No C/1, C Block, floor 25, P J Towers, Sandra Kuria Complex, Dalai Street, Sandra (E), Murnbai — 400 001 Mumbai 400 051 Dear Sir / Madam, Sub: Presentation on Unaudited Financial Re
Slide 2: Results Update Presentation Q1 FY 2020-21
VA TECH WABAG LTD Results Update Presentation Q1 FY 2020 - 21
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by VA TECH WABAG LIMITED (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 4: Complete Water Treatment Solution Provider
Complete Water Treatment Solution Provider… Provides a complete range of Water and Waste Water Treatment solutions Offering spanning across Municipal Drinking Water, Municipal Sewage, Industrial Water, Industrial Effluents, Desalination and Recycle Technology focused company - Owns more than 9
Slide 5: Range of Solutions offered in Water Space
Range of Solutions offered in Water Space Sewage Water Treatment Drinking Water Treatment Industrial Water Treatment Activated Sludge Process Aeration Raw water pre treatment Sequential Batch Reactors Sedimentation Filtration Plants Membrane Bed Bio Filtration Nano / Ultra Filtrati
Slide 6: Complete Water Treatment Solution Provider: delivery models
Complete Water Treatment Solution Provider… . . . With complete portfolio of Water Solutions with . . . through various business/ delivery model technological and operational expertise . . Industrial waste water Drinking Water Treatment purification Engineering, Procurement, Construction (EPC) O&M
Slide 7: Asset light business model
Asset light business model Design Civil Operation & Technology Construction & Engineering (Outsourced) Maintenance Critical for cost In-house to ensure Mostly outsourced to In-house to ensure quality optimization compliance with designs dedicated Contractors performance Approvals to match o Co
Slide 8: Global Recognition
Global Recognition 7 Water Water 7 +ve +ve
Slide 9: Index
Index 1 Key Highlights Q1 FY 20 - 21 2 Quarterly Performance & Business Updates 3 Order Book Analysis 8 Water +ve
Slide 10: Key Highlights Q1 FY21
Key Highlights Q1 FY 21 9 Water +ve
Slide 11: Key Highlights Q1 FY21
Key Highlights Q1 FY 21 Order Book of INR 111 Bn including framework orders Order Intake of over INR 4.4 Bn Consolidated Revenue at INR 4.3 Bn Consolidated EBITDA at INR 289 Mn KUKL Guheshwori, Nepal Consolidated PAT at INR 51 Mn 10 Water +ve
Slide 12: Quarterly Performance
Quarterly Performance 11 Water +ve
Slide 13: Results Overview – Consolidated Profit and Loss
RESULTS OVERVIEW – Consolidated Profit and Loss Rs. Millions Q1 FY 21 Q1 FY 20 YOY % Revenue from operations 4,309 4,565 (5.6%) • EPC revenues deferred on Cost of Sales 3,256 3,266 account of slower project (0.3%) Total Cost of Operations (TCO) 764 924 (17.3%) progress due to lockdown EBITDA 289 375
Slide 14: Results Overview – Standalone Profit and Loss
RESULTS OVERVIEW – Standalone Profit and Loss Rs. Millions Q1 FY 21 Q1 FY 20 YOY % • EPC revenues driven by Revenue from Operations 2,817 3,240 (13.1%) slower project progress Cost of Sales 2,136 2,198 (2.8%) due to COVID-19 Total Cost of Operations (TCO) 440 579 (24.1%) • O&M continued to EBITDA 24
Slide 15: Update on GENCO Projects
Update on GENCO Projects TSGENCO Rs. 1,385 Mio • Tecpro is endeavoring to initiate arbitration with TSGENCO • The Company and TSGENCO have challenged the same in Supreme Court and obtained an interim injunction order and expect quashing in the next hearing Tecpro Rs. 695 Mio • Pursuing legal action
Slide 16: Core Profitability is continuously on the rise
Core Profitability is continuously on the rise Income Statement FY 19 FY 20 Healthy operating profit Reported Revenues from Operations 27,232 25,230 performance from core business Core Revenues from Operations 26,414 25,100 Key impact on financials has Reported EBITDA 1,942 2,268 been the GENCO
Slide 17: Core RoCE strong and NWC status improving
Core RoCE strong and NWC status improving Net Working Capital FY 19 FY 20 Working Capital days Reported Net Working Capital 9,750 8,781 improving due to focused cash flow management Core Net Working Capital 6,145 5,342 efforts Reported Working Capital Days 130 127 Core working capital at 78 days
Slide 18: Revenue Breakup – Q1 FY21
Revenue Breakup – Q1 FY 21 EPC O&M Rs. Millions EPC O&M Total 23% Municipal Industrial Municipal Industrial Wabag India 1,192 815 629 91 2,727 77% Wabag Overseas 936 300 230 21 1,487 Municipal Industrial 29% Total 2,128 1,115 859 112 4,214 EPC [Rs. Bn.] O&M [Rs. Bn.] 71% India Europe MDUs* IIUs # 7%
Slide 19: Key Projects Contributing to Revenue – Q1 FY21
Key Projects Contributing to Revenue – Q1 FY 21 Revenue recognized Project Details [Rs. Mn] Expansion SWTP 9, Jubail, KSA – STP 545 South Doha, Qatar – STP 470 UPJN, O&M of Agra & Ghaziabad 288 MRPL, Karnataka – Desal 235 Dangote, Nigeria - ETP & RWTP 231 JAJMAU, Kanpur – CETP 192 Puro
Slide 20: Order Book Analysis
Order Book Analysis 19 Water +ve
Slide 21: Order Intake Breakup
Order Intake Breakup EPC O&M Rs. Millions EPC O&M Total 2% Municipal Industrial Municipal Industrial Wabag India 3,638 - 90 1 3,729 98% Wabag Overseas 367 324 - 4 695 Municipal Industrial 7% Total 4,005 324 90 5 4,424 93% Order Value Key Orders Received (Rs. Mn.) India Europe MDUs* IIUs # Jeddah Air
Slide 22: Order Book Composition
Order Book Composition Rs. Millions EPC O&M Total EPC O&M Municipal Industrial Municipal Industrial 31% Wabag India 25,665 10,235 24,805 1,859 62,564 69% NMCG (SPVs) - EPC 7,947 - 1,453 - 9,400 - HAM 5,869 - 2,358 - 8,227 Municipal Industrial Wabag Overseas 19,989 2,232 1,670 100 23,991 14% Framewor
Slide 23: Order Book of Rs. 104.1 Bn & Framework Contracts
Order Book of Rs. 104.1 Bn & Framework Contracts of Rs. 6.9 Bn Key Contracts in Orderbook Key Framework Contracts * Project Details Amt [Rs. Mn] Libya STP of Rs. 6,114 Mn UPJN, O&M of Agra & Ghaziabad 14,125 Koye Fetche, Ethiopia of Rs. 882 Mn BUIDCO, Digha & Kankarbagh – STP & Network 11,87
Slide 24: For further information, please contact
For further information, please contact Company : Investor Relations Advisors : VA Tech Wabag Ltd. Stellar IR Advisors Pvt. Ltd. CIN - L45205TN1995PLC030231 CIN - U74900MH2014PTC259212 Mr. Sandeep Agrawal, Chief Financial Officer Mr. Gaurang Vasani, Managing Director investors@wabag.in vgaurang@stel