Pnc Infratech Ltd · NSE:PNCINFRA
Pnc Infratech — Q2 FY24 Earnings Presentation
32 slides from Pnc Infratech's earnings presentation, November 2023
Slide 1: PNC Infratech Limited Investor Presentation Q2FY24
PNC INFRATECH LIMITED Investor Presentation Q2FY24 MASTERING EXPERTISE EXPANDING HORIZONS 1
Slide 2: Safe Harbor
Safe Harbor 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 securit
Slide 3: Key Highlights & Financials
Key Highlights & Financials PNC Infratech Limited
Slide 4: Key Highlights for Q2FY24
Key Highlights for Q2FY24 Revenue Revenue of Rs. 1,693 crore as compared to Rs. 1,561 crore in Q2FY23 8% EBITDA • EBITDA of Rs. 228 crore in Q2FY24 as compared to 10% Rs. 207 crore in Q2FY23 • EBITDA Margin of 13.4% in Q2FY24 PAT • PAT of Rs. 140 crore in Q2FY24 as compared to Rs. 131 crore in Q2FY2
Slide 5: Key Highlights for H1 FY24
Key Highlights for H1 FY24 Revenue 8% Revenue of Rs. 3,554 crore in H1FY24 as compared to Rs. 3,282 crore* in H1FY23 EBITDA 10% EBITDA of Rs. 473 crore in H1FY24 compared to Rs. 428 crore* in H1FY23 EBITDA Margin of 13.3 % in H1FY24 PAT 14% PAT of Rs. 296 crore in H1FY24 compared to Rs. 261 crore* i
Slide 6: Key Highlights for H1 FY24
Key Highlights for H1 FY24 Revenue (Rs. crore) EBITDA (Rs. crore) PAT (Rs. crore) +10% +14% +8% 473 296 3,554 3,282 428 261 H1FY23* H1FY24 H1FY23* H1FY24 H1FY23* H1FY23 * - Excluding Bonus of Rs. 37.02 crs received in H1 FY23 Standalone Financials PNC Infratech Limited 6
Slide 7: Order Book Details
Order Book Details PNC Infratech Limited
Slide 8: Robust Order Book over Rs. 13,400 crores
Robust Order Book over Rs. 13,400 crores ◼ Remaining value of contracts under execution of over Rs. 13,400 crore as on Remaining 30th September 2023 Awarding Key EPC Projects Under Construction Value Authority ◼ The below orders are not included in order book as on 30th Sept 2023: (Rs. Crores) ✓ Con
Slide 9: Portfolio of Development Projects on PPP Mode
Portfolio of Development Projects on PPP Mode PNC Infratech Limited
Slide 10: Sizeable Project Portfolio: Operational Projects
Sizeable Project Portfolio: Operational Projects PNC Share of Invested Debt as on 30th % JV Kms / TPC Invested Grant Total Debt Project Authority State / Stretch Type Equity Sep ‘23 Stake Partners Lanes (Rs. Crs) Amount (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Kanpur Kabrai 100% NHAI UP / N
Slide 11: Sizeable Project Portfolio: HAM Projects
Sizeable Project Portfolio: HAM Projects PNC Share of Debt / Bond as on % TPC Invested Equity Total Debt Project Authority State / Stretch Kms / Lanes Status Invested Amount 30th Sep’23 Stake (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Dausa-Lalsot 100% NHAI Raj/ NH11A 83.45/ 4/2 COD 820 65 65
Slide 12: Annexure – I Summary Financials
Annexure – I Summary Financials PNC Infratech Limited
Slide 13: Standalone Profitability Statement – Q2 & H1
Standalone Profitability Statement – Q2 & H1 Rs. Crores Q2 FY24 Q2 FY23 YoY Growth (%) H1 FY24 H1 FY23 YoY Growth (%) REVENUE* 1,693 1,561 8% 3,554 3,282 8% EBITDA* 228 207 10% 473 428 10% EBITDA margin* 13.4% 13.3% 13.3% 13.0% Other Income 6 10 14 18 Depreciation 26 27 51 54 Financial Expenses 19 1
Slide 14: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crores) Sep-23 Mar-23 EQUITY AND LIABILITIES (Rs. Crores) Sep-23 Mar-23 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 496 522 (a) Equity Share capital 51 51 (b) Right to Use Assets 8 9 (b) Other equity 4,175 3,890 (c) Capital work-in-progress 0 0
Slide 15: Net Working Capital Days - Standalone
Net Working Capital Days - Standalone 97 99 87 91 77 79 73 74 60 62 57 51 Mar/19 Mar/20 Mar/21 Mar/22 Mar/23 Sep/23 Debtors Net Working Capital PNC Infratech Limited 15
Slide 16: Consolidated Profitability Statement – Q2 & H1
Consolidated Profitability Statement – Q2 & H1 Rs. Crores Q2 FY24 Q2 FY23 YoY Growth (%) H1 FY24 H1 FY23 YoY Growth (%) REVENUE* 1,911 1,795 6% 4,003 3,811 5% EBITDA* 400 326 22% 836 808 4% EBITDA margin* 20.9% 18.2% 20.9% 21.2% Other Income 21 24 41 37 Depreciation 41 48 89 152 Interest 161 108 308
Slide 17: Segmental Revenue Break-up
Segmental Revenue Break-up Q2 FY23 158 361 Q2 FY24 397 9% 20% 21% 214 11% 1,276 1,300 71% 68% Roads Water Toll/Annuity Roads Water Toll/Annuity H1 FY23 240 H1 FY24 818 758 6% 20% 20% 445 11% 2,850 74% 2,741 69% Roads Water Toll/Annuity Roads Water Toll/Annuity PNC Infratech Limited 17
Slide 18: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Crores) Sep-23 Mar-23 EQUITY AND LIABILITIES (Rs. Crores) Sep-23 Mar-23 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 500 525 (a) Equity Share capital 51 51 (b) Right to Use Assets 8 9 (b) Other equity 4,561 4,234 (c) Capital work-in-progress Eq
Slide 19: Cashflow Statement
Cashflow Statement Standalone Consolidated Rs. Crores Half Year ended 30-Sep-23 Half Year ended 30-Sep-22 Half Year ended 30-Sep-23 Full Year ended 30-Sep-22 Profit before tax 401 396 480 515 Adjustments 85 89 358 342 Operating Cash flow Before Working Capital Changes 486 485 838 857 Change in opera
Slide 20: Annexure – II Company Overview
Annexure – II Company Overview PNC Infratech Limited
Slide 21: Introduction
Introduction Established track record of timely/early completion of projects • Infrastructure construction, development, and management company; expertise in the execution of projects including highways, bridges, flyovers, airport runways, industrial areas, railways and transmission lines • Executed
Slide 22: Business Overview
Business Overview Roads & Highways EPC Completed 61 infrastructure road projects on EPC basis Water Supply & Irrigation Roads & Highways BOT / OMT/ HAM Working on EPC projects in Water Supply sector and Irrigation Projects Operating 5 BOT projects, comprising both toll & annuity assets; Total of 22
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”) PNC Gomti Highways Private Limited (“PNCGHPL”) Joint Ventures 4 laning of the Bareilly-Almora section of SH 37 4 Laning of Jagdishpur F
Slide 24: Enhanced Execution Capability
Enhanced Execution Capability Working Capital Limits Man and Machine added to Strong Credit Rating execute more projects ▪ Long term bank facilities “CARE ▪ Fund Based Limits of Rs. 1,000 ▪ Strengthening of In-house AA+ (Double A plus)” crores which will enable us to execution team with induction of
Slide 25: Enhanced to Augment and upgrade the execution
Enhanced to Augment and upgrade the execution Rs. Crores 1,331 1,317 1,267 1,273 1,094 1,016 FY19 FY20 FY21 FY22 FY23 Sep-23 Present Capex will enable us to achieve a Turnover of Rs. 10,000-12,000 crores PNC Infratech Limited 25
Slide 26: Strengthening of in-house execution team
Strengthening of in-house execution team No. of Employees 10,187 9,599 9,387 9,137 8,371 8,334 FY19 FY20 FY21 FY22 FY23 Sep-23 Strengthening of In-house execution team with induction of engineers with strong technical knowledge PNC Infratech Limited 26
Slide 27: Strong Credit Rating
Strong Credit Rating Upgraded Assigned Reaffirmed ◼ PNC Infratech Ltd. ◼ Yamuna Highways Pvt. Ltd. ◼ PNC Rajasthan Highways Private Limited ✓ Long term bank facilities at ✓ CARE A; Stable (Single A; Outlook: ✓ Non Convertible Debentures at CARE AAA; Stable (Triple A; Outlook: Stable) CARE AA+; Stabl
Slide 28: 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 ◼ Over 41 years of experience ◼ Over 32 years of experience ◼ Over 31 years of experience ◼ Over 26 years of expe
Slide 29: Board of Directors
Board of Directors Mr. Pradeep Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh Kumar Jain Chairman & Managing Director Managing Director Managing Director Mr. Anil Kumar Rao Mr. Talluri Raghupati Rao Whole-time Director Wholetime Director Mr. Krishan Kumar Jalan (IAS) Mr. Gauri Shankar Mr. Subhash Cha
Slide 30: Clientele
Clientele PNC Infratech Limited 30
Slide 31: Growth Strategy
Growth Strategy STRONG FOCUSED DIVERSIFICATION COMPETITIVENESS RELATIONSHIP APPROACH ◼ Leveraging Strong Project ◼ Maintaining Strategic ◼ Improve performance and ◼ Continue to focus on our Execution track record to Alliances with companies competitiveness of existing Core EPC Strength & diversify i
Slide 32: 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 COO – IR Practice +91-9920602034 dkm@pncinfrate