Pnc Infratech Ltd · NSE:PNCINFRA
Pnc Infratech — H1 FY2021 Earnings Presentation
36 slides from Pnc Infratech's earnings presentation, Nov 3, 2020
Slide 1: Cover letter to stock exchanges on result update presentation
PNC Infratech Limited An ISO 9001 :2015 Qertified Company Ref No: PNC/SE/69 l2O-21 Date:03.11.2020 To, To, The Manager The Manager The Department of Corporate Services The Listing Department BSE Limited NationalStock Exchange of India Limited Floor 25, P.J. Towers, Exchange Plazu Bandra Kurla Comple
Slide 2: Result Update Presentation – Q2 & H1 FY21
PNC Infratech Limited Result Update Presentation – Q2 & H1 FY21
Slide 3: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by PNC Infratech 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 securi
Slide 4: Key Highlights & Financials
1 Key Highlights & Financials Project Execution in Q1 FY21 and Q2 FY21 has been impacted due to COVID- 19 lockdown PNC infratech 3
Slide 5: Key Highlights for Q2FY21
Key Highlights for Q2FY21 Revenue EBITDA PAT Rs. 1,053 cr Rs. 142 cr Rs. 69 cr Revenue of Rs. 1,053 crore in EBITDA of Rs. 142 crore in Q2 FY21 PAT of Rs. 69 crore in Q2 FY21 Q2 FY21 as compared to Rs. compared to Rs. 120 crore in Q1 compared to Rs. 60 crore in 905 crore in Q1 FY21 and Rs. FY21 and
Slide 6: Key Highlights for H1FY21
Key Highlights for H1FY21 Revenue EBITDA PAT Retent Rs. 1,959 Rs. 262 ion Rs.129 crore crore crore Revenue of Rs. 1,959 crore in H1FY21 as EBITDA of Rs. 262 crore in H1FY21 PAT of Rs. 129 crore in H1FY21 compared to Rs. 2,392 crore* in H1FY20 compared to Rs. 327 crore* in H1FY20 compared to Rs. 174
Slide 7: Status of HAM Projects
Status of HAM Projects 2 laning with paved shoulders of Dausa- Lalsot- Kauthun section of Received PCOD on Jul-16 BPC - Rs. 881 crore NH-11 A (Extension) in the state of Rajasthan under NHDP IV 14th February 2020 6 laning Chitradurga - Davanagere including Chitradurga bypass, in Mar-17 BPC - Rs. 1,4
Slide 8: Order-book Details
2 Order-book Details PNC infratech 7
Slide 9: Robust Order-book of over Rs. 6,700 crore
Robust Order-book of over Rs. 6,700 crore ◼ Remaining value of contracts under execution of Rs. 6,795 Remaining crore as on September 30, 2020 Key EPC Projects Under Awarding Value ◼ The below order is not included in orderbook as on Construction Authority (Rs. Crores) September 30, 2020: Nagpur-Mum
Slide 10: Execution Status of Key Project
Execution Status of Key Project EPC Project Execution Status HAM Project Execution Status Appointed Date received and project Received PCOD on 14th Nagina-Kashipur Dausa-Lalsot-Kathun February 2020 (99.97% work is under-construction completed) Appointed Date received and project Koliwar-Bhojpur Appo
Slide 11: Portfolio of Development Projects on PPP Mode
3 PORTFOLIO OF DEVELOPMENT PROJECTS ON PPP MODE PNC infratech 10
Slide 12: Sizeable Project Portfolio: Operational Projects
Sizeable Project Portfolio: Operational Projects PNC Share of Invested Total Debt as on % State / JV Kms / TPC Invested Grant Project Authority Type Equity Debt 30th Sep ‘20 Stake Stretch Partners Lanes (Rs. Crs) Amount (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Ghaziabad UP / SREI, 35%* NHAI
Slide 13: Asset Monetization Plan
Asset Monetization Plan ◼ Ghaziabad Aligarh Road Project ✓ The Company along with other partners/promoters has entered into a Share Purchase Agreement (SPA) with Cube Highways and Infrastructure Pte. Ltd. for sale of 35% stake jointly held by the Company along with its wholly owned subsidiary, PNC I
Slide 14: Sizeable Project Portfolio: HAM Projects
Sizeable Project Portfolio: HAM Projects PNC Share of Invested Total Debt as on % State / Kms / TPC Invested Project Authority Status Equity Debt 30th Sep ‘20 Stake Stretch Lanes (Rs. Crs) Amount (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Raj/ 83.45/ Dausa-Lalsot 100% NHAI PCOD 820 65 65 371 354 NH11A
Slide 15: Annexure I – Summary Financials
4 Annexure I – Summary Financials PNC infratech 14
Slide 16: Standalone Profitability Statement – Q2 & H1
Standalone Profitability Statement – Q2 & H1 QoQ YoY YoY Rs. Crores Q2 FY21 Q1 FY21 Q2 FY20* H1 FY21 H1 FY20* Growth (%) Growth (%) Growth (%) REVENUE 1,053.46 905.26 16% 1,070.73 -2% 1,958.72 2,392.50 -18% EBITDA 142.09 119.77 19% 147.74 -4% 261.86 327.31 -20% EBITDA margin 13.5% 13.2% 13.8% 13.4%
Slide 17: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crores) Sep-20 Mar-20 EQUITY AND LIABILITIES (Rs. Crores) Sep-20 Mar-20 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 537.58 586.50 (a) Equity Share capital 51.31 51.31 (b) Capital work-in-progress 0.00 0.00 (b) Other equity 2,625.69 2,495.29 (c)
Slide 18: Consolidated Profitability Statement – Q2 & H1
Consolidated Profitability Statement – Q2 & H1 QoQ Growth YoY Growth YoY Growth Rs. Crores Q2 FY21 Q1 FY21 Q2 FY20* H1 FY21 H1 FY20* (%) (%) (%) REVENUE 1,248.46 1,092.81 14% 1,231.46 1% 2,341.28 2,755.98 -15% EBITDA 303.96 286.87 6% 274.23 11% 590.83 625.25 -6% EBITDA margin 24.3% 26.3% 22.3% 25.2%
Slide 19: Segmental Revenue Break-up – Q2 & H1
Segmental Revenue Break-up – Q2 & H1 Q2 FY20 Q2 FY21 219.70 170.37 18% 13% 1,170.58 1,028.76 87% 82% EPC Toll/Annuity EPC Toll/Annuity H1FY20 H1FY21 407.25 378.82 17% 13% 2,486.64 1,934.02 87% 83% EPC Toll/Annuity EPC Toll/Annuity PNC infratech 18
Slide 20: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Crores) Sep-20 Mar-20 EQUITY AND LIABILITIES (Rs. Crores) Sep-20 Mar-20 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 541.78 591.08 (a) Equity Share capital 51.31 51.31 (b) Capital work-in-progress 0.00 0.00 (b) Other equity 2,674.97 2,502.95 1,
Slide 21: Net Working Capital Days - Standalone
Net Working Capital Days - Standalone 136 136 129 113 97 84 85 73 73 72 60 57 Mar/17 Mar/18 Mar/19 Mar/20 Jun/20 Sep/20 Debtors Net Working Capital PNC infratech 20
Slide 22: Cashflow Statement – Standalone and Consolidated
Cashflow Statement – Standalone and Consolidated Standalone Consolidated Rs. Crores Half Year ended Half Year ended Half Year ended Half Year ended 30-Sep-20 30-Sep-19 30-Sep-20 30-Sep-19 Profit before tax 194.47 390.97 247.73 485.99 Adjustments Operating Cash flow Before Working Capital Changes 272
Slide 23: Annexure II – Company Overview
5 Annexure II – Company Overview PNC infratech 22
Slide 24: Introduction
Introduction Established track record of timely/early completion of projects Infrastructure construction, development and management company; expertise in execution of 1 projects including highways, bridges, flyovers, airport runways, industrial areas and transmission lines Executed 68 major infrast
Slide 25: Business Overview
Business Overview Roads & Highways EPC Completed 45 infrastructure road projects on EPC basis Power Transmission Roads & Highways BOT / Set up power transmission lines of OMT/ HAM approximately 350 km of 132/220 kilovolt Operating 6 BOT & 1 OMT project, lines on a turn-key basis comprising of both t
Slide 26: Corporate Structure
Corporate Structure PNC Infra Holdings Limited (“PNCIHL”) BOT Holdco for road and other infra projects PNC Bareilly Nainital Highways Private Limited (“PNCBNHPL”) 4 laning of the Bareilly-Almora section of SH 37 Ferrovia Transrail Solutions Private Limited (“FTSPL”) MP Highways Private Limited (“M
Slide 27: Integrated Business Model
Integrated Business Model Equipment Bank In-house Design & Engineering ▪ Ownership of a fleet of modern ▪ Controls the entire process from equipment enables quick conceptualization to commissioning mobilization besides ensuring of a given project which helps in continuous availability of critical pr
Slide 28: Enhanced Execution Capability
Enhanced Execution Capability Strong Credit Rating ◼ Long term bank facilities “CARE AA- (Double A Minus)” ◼ Short term bank facilities “CARE A1+ (A One plus)” ◼ “Stable” outlook Enhanced Working Capital Limits ◼ Enhanced Fund Based Limits from Rs. 750 crores to Rs. 1,000 crores which will enable us
Slide 29: Enhanced to augment & upgrade the execution
Enhanced to augment & upgrade the execution Rs. Crores - Capex addition 1,094 1,100 1,016 78 6 291 725 600 125 429 171 49 FY16 FY17 FY18 FY19 FY20 Sep-20 Present Capex will enable us to achieve a Turnover of Rs. 7,000-8,000 crores PNC infratech 28
Slide 30: Strengthening of In-house execution team
Strengthening of In-house execution team Current Total Employees: Over 7,100 - Employee addition 7,415 7,310 7,154 6,788 5,775 1,640 -105 366 -522 4,284 1,491 3,947 337 171 FY16 FY17 FY18 FY19 FY20 Jun-20 Sep-20 Strengthening of In-house execution team with induction of engineers with strong technic
Slide 31: Strong Credit Rating
Strong Credit Rating Reaffirmed Reaffirmed Reaffirmed ◼ PNC Infratech Ltd. ◼ MP Highways Pvt. Ltd. ✓ Long term bank facilities stands at ✓ Long term bank facilities at CARE A; ◼ PNC Aligarh Highways Pvt. Ltd. CARE AA-; Stable (Double A Minus; Stable (Single A; Outlook: Stable) ✓ Assigned CARE A; Sta
Slide 32: Experienced Promoters
Experienced Promoters Mr. Pradeep Kumar Jain Mr. Naveen Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh Kumar Jain Chairman & Managing Promoter Managing Director & Managing Director Director CFO ◼ Over 39 years of experience ◼ Over 30 years of experience ◼ Over 29 years of experience ◼ Over 24 years o
Slide 33: Board of Directors
Board of Directors Mr. Pradeep Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh Kumar Jain Mr. Anil Kumar Rao Chairman & Managing Director Managing Director & CFO Managing Director Whole-time Director Mr. Talluri Raghupati Rao Mr. Krishan Kumar Jalan (IAS) Mr. Gauri Shankar Wholetime Director Independe
Slide 34: Clientele
Clientele > psiIpc Jpeida Delhi Stat dystal and Tfastrucure Developmen Upei of) saRTsUAR TAT Aw f =. Uttar Prad@h State Highways-Authority AY
Slide 35: Growth Strategy
Growth Strategy Diversification: ◼ Leveraging Strong Project Execution track record to diversify into new functional areas of infrastructure Diversification development ◼ Expand presence in development of industrial areas and dedicated freight corridor projects ◼ Diversify into waste management, wat
Slide 36: For further information, please contact:
For further information, please contact: Company : Investor Relations Advisors : PNC Infratech Ltd Strategic Growth Advisors Pvt. Ltd. CIN: L45201DL1999PLC195937 CIN: U74140MH2010PTC204285 Mr. D. K. Maheshwari Mr. Jigar Kavaiya Vice President - Finance Group Account Head +91-9920602034 dkm@pncinfrat