Pnc Infratech Ltd · NSE:PNCINFRA
Pnc Infratech — Q1 FY2018-19 Earnings Presentation
35 slides from Pnc Infratech's earnings presentation, 2018
Slide 1: PNC Infratech Limited Result Update Presentation Q1 FY 2018-19
PNC Infratech Limited Result Update Presentation Q1 FY 2018-19
Slide 2: 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 3: Key Highlights & Financials
1 Key Highlights & Financials PNC infratech 3
Slide 4: Key Highlights for Q1 FY19
Key Highlights for Q1 FY19 • Revenue of Rs. 736* crores in Q1 FY19 as Revenue YoY growth of 106% compared to Rs. 357 crores in Q1 FY18 • EBITDA of Rs.129 Crores in Q1 FY19 EBITDA YoY growth of 149% compared to Rs. 52 Crores in Q1 FY18; • EBITDA Margin of 17.6% as compared to 14.6% in Q1 FY18, improv
Slide 5: Key Highlights: Early Completion Bonus
Key Highlights: Early Completion Bonus Agra - Lucknow Raebareli - Jaunpur BOT Expressway (Annuity) Project ✓ Receipt of Rs. 58.23 crore towards ✓ Receipt of Rs. 33.73 crore towards the bonus for the early completion on 3rd 'Bonus Annuity' by one of its subsidiary February 2018, has been accounted in
Slide 6: Under Construction: Status of HAM Projects
Status of HAM Projects 2 laning with paved 4 laning Jhansi- 4 laning Jhansi - 6 laning Chitradurga - shoulders of Dausa- Khajuraho section of NH Khajuraho section of NH Davanagere including Lalsot- Kauthun section 75/76 (Package II) from 75/76 (Package I) from Chitradurga bypass, in Under Constructi
Slide 7: Order-book Details
2 Order-book Details PNC infratech 7
Slide 8: Robust Order-book of over Rs. 6,500 crores
Robust Order-book of over Rs. 6,500 crores ◼ Remaining value of contracts under execution Rs. 6,617 Remaining crores as on June 30, 2018. The below orders are not Key EPC Projects Under Awarding Value included in orderbook as on June 30, 2018: Construction Authority (Rs. Crores) ✓ SPV (PNC Triveni S
Slide 9: Execution Status of Key Project
Execution Status of Key Project Project Project Type Execution Status Nagina-Kashipur EPC Appointed Date received and project is under-construction Koliwar-Bhojpur EPC Appointed Date received and project is under-construction Bhojpur-Buxar EPC Appointed Date received and project is under-constructio
Slide 10: Portfolio of Development Projects on PPP Mode
3 PORTFOLIO OF DEVELOPMENT PROJECTS ON PPP MODE PNC infratech 10
Slide 11: 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 Jun. ’18 Stake Stretch Partners Lanes (Rs. Crs) Amount (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Ghaziabad UP / SREI, 67.9*/ 3
Slide 12: Sizeable Project Portfolio: HAM Projects
Sizeable Project Portfolio: HAM Projects PNC Share of Invested Total Debt as on % State / JV Kms / TPC Invested Project Authority Type Equity Debt 30th Jun. ’18 Stake Stretch Partners Lanes (Rs. Crs) Amount (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Raj/ 83.45/ Dausa-Lalsot 100% NHAI Hybrid - 820 46 46
Slide 13: Annexure I – Summary Financials
4 Annexure I – Summary Financials PNC infratech 13
Slide 14: Standalone Profitability Statement – Quarter
Standalone Profitability Statement – Quarter Rs. Crores Q1 FY19 Q1 FY18 YoY REVENUE 735.50* 356.65 106% EBITDA 129.42 51.96 149% EBITDA margin 17.6% 14.6% 303 bps Other Income 17.89 5.50 Depreciation 19.28 17.52 Interest 10.65 8.00 Profit Before Tax 117.38 31.94 268% Total Tax Expenses 14.86 2.13 Cu
Slide 15: Net Working Capital Days
Net Working Capital Days* 136 136 124 129 122 122 109 113 113 112 92 91 86 68 Mar/13 Mar/14 Mar/15 Mar/16 Mar/17 Mar/18 Jun/18 Debtors Net Working Capital * - Standalone PNC infratech 15
Slide 16: Standalone Profitability Statement – Full Year
Standalone Profitability Statement – Full Year Rs. Crores FY18 FY17 YoY REVENUE 1,856.58* 1,689.11 10% EBITDA 318.83 221.02 44% EBITDA margin 17.2% 13.1% 410 bps Other Income 23.02 46.55 Depreciation 77.20 53.33 Interest 30.72 20.31 Profit Before Tax 233.93 193.93 21% Total Tax Expenses -17.11 -15.7
Slide 17: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crores) Mar-18 Mar-17 EQUITY AND LIABILITIES (Rs. Crores) Mar-18 Mar-17 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 404.81 345.90 (a) Equity Share capital 51.31 51.31 (b) Capital work-in-progress 11.14 7.82 (b) Other equity 1,755.39 1,520.86 (c)
Slide 18: Consolidated Profitability Statement – Full Year
Consolidated Profitability Statement – Full Year Rs. Crores FY18 FY17 YoY REVENUE 2,411.39 2,252.33 7% EBITDA 769.10 624.08 23% EBITDA margin 31.9% 27.7% 420 bps Other Income 24.35 40.60 Depreciation 261.81 241.57 Interest 309.31 310.19 Profit Before Tax 222.33 112.91 97% Total Tax Expenses -26.65 -
Slide 19: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Crores) Mar-18 Mar-17 EQUITY AND LIABILITIES (Rs. Crores) Mar-18 Mar-17 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 409.23 351.21 (a) Equity Share capital 51.31 51.31 (b) Capital work-in-progress 11.14 7.82 (b) Other equity 1,637.40 1,409.72 (
Slide 20: Annexure II – Company Overview
5 Annexure II – Company Overview PNC infratech 20
Slide 21: Introduction
Introduction Infrastructure construction, development and management company; expertise in execution of projects including highways, bridges, flyovers, airport runways, industrial areas and transmission lines Executed 60 major infrastructure projects spread across 13 states, of which 38 are road EPC
Slide 22: Business Overview
Business Overview Operating 6 BOT & 1 OMT Completed 38 infrastructure project, comprising of both toll & Roads & annuity assets; Total 7 HAM road projects on EPC basis Roads & Highways projects comprising - 4 HAM Highways BOT / OMT/ project under-construction and EPC for 3 project we have signed HAM
Slide 23: 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 24: Integrated Business Model
Integrated Business Model In-house Design & Engineering • Controls the entire process from conceptualization to commissioning of a given project which helps in providing customized solutions as per clients’ specific requirements Equipment Bank In-house Construction ◼ Ownership of a fleet of modern ◼
Slide 25: Enhanced Execution Capability
Enhanced Execution Capability Man and Machine added to execute more projects ◼ Strengthening of In-house execution team with induction of engineers with strong technical knowledge ◼ Investments in Machinery over the years to augment and upgrade the execution capabilities Strong Credit Rating Enhance
Slide 26: Enhanced to augment & upgrade the execution
Enhanced to augment & upgrade the execution Rs. Crores - Capex addition 725 600 125 429 380 171 49 FY15 FY16 FY17 FY18 Capex over last 3 years will enable us to achieve a Turnover of Rs. 3,500-4,000 crores PNC infratech 26
Slide 27: In-house Equipment Bank
In-house Equipment Bank Name of Machinery OEM Quantity Heavy Duty Vehicles Ashok Leyland, Tata Motors 847 Diesel Generators Cummins/Jackson, Sudhir, Kirloskar, A/L, Greaves, Prakash, Escorts 361 Light Duty Vehicles and Attachments Mahindra, Tata, Farm Trac, John Deere 293 Storage Tank -- 121 Passeng
Slide 28: Strengthening of In-house execution team
Strengthening of In-house execution team Current Total Employees: ~5,700 - Employee addition 5,775 1,491 4,284 3,947 3,776 337 171 FY15 FY16 FY17 FY18 Strengthening of In-house execution team with induction of engineers with strong technical knowledge PNC infratech 28
Slide 29: Enhanced Execution Capability
Enhanced Execution Capability ◼ Enhanced Working Capital Limits ✓ Enhanced Fund Based Limits from Rs. 650 crores to Rs. 750 crores which will enable us to execute projects without financial constraints ✓ Enhanced Non-Fund Based Limits from Rs. 2,650 crores to Rs. 3,350 crores will enable to Bid for
Slide 30: Strong Credit Rating
Strong Credit Rating Reaffirmed Assigned Upgraded ◼ PNC Khajuraho Highways Pvt. Ltd. ◼ PNC Infratech Ltd. ◼ MP Highways Pvt. Ltd.: CARE ✓ Assigned CARE A-; Stable (Single A ✓ Long term bank facilities stands at CARE Minus; Outlook: Stable) on long term upgraded credit rating by 1 notch AA- (Double A
Slide 31: Experienced Promoters
Experienced Promoters ➢ Mr. Pradeep Kumar Jain - Chairman & Managing Director ◼ Over 39 years of experience in the construction, infrastructure sector and allied areas ◼ Responsible for overall administration and supervision of projects and liaison with agencies ➢ Mr. Naveen Kumar Jain - Promoter ◼
Slide 32: Board of Directors
Board of Directors Mr. Pradeep Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh Kumar Jain CMD Managing Director & CFO Managing Director Mr. Anil Kumar Rao Mr. Chhotu Ram Sharma Mr. Gauri Shankar Whole-time Director Independent Director Additional Non - Executive Independent Director Mr. Ashok Kumar Gu
Slide 33: Clientele
Clientele e MRITES THE INFRASTRUCTURE PEOPLE Delhi State Industrial and Infrastructure Development Opeid Corporation Ltd. pei Actmority
Slide 34: Growth Strategy
Growth Strategy Strong Relationships ◼ Maintaining Strategic Alliances with companies whose Resources, Skills & Strategies for synergy Competitiveness ◼ Enter into project-specific JVs or sub-contracting relationships ◼ Improve performance and competitiveness of existing business through investments
Slide 35: 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 Assistant Vice President - Finance Group Account Head +91-9920602034 dkm