Pnc Infratech Ltd · NSE:PNCINFRA
Pnc Infratech — Q2 FY25 Earnings Presentation
35 slides from Pnc Infratech's earnings presentation, Nov 14, 2024
Slide 1: Cover letter to stock exchanges on Q2 FY25 results presentation
PNC I t*F PNC lnfratech Limited An ISO 9001 :2015 Certified Company Ref No: PNC/SE/80 124-25 Date: 14.11.2024 To, To, The Manager Tlie Manager Departrr-rent of Corporate Services Listing Department BSE Limited National Stock Exchange of India Limited Floor 25,P.J. Towers, Exchange Plaza, Bandra Kurl
Slide 2: Investor Presentation Q2FY25
Envisioning Tomorrow Possibilities Unlimited INVESTOR PRESENTATION Q2FY25
Slide 3: 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 4: Key Highlights & Financials
Key Highlights & Financials PNC Infratech Limited
Slide 5: Key Highlights for Q2FY25
Key Highlights for Q2FY25 • Revenue of Rs. 1,149 crore in Q2 FY25 as compared to Rs. 1,693 crore Revenue in Q2 FY24 • EBITDA of Rs. 134 crore in Q2FY25 as compared to Rs. 228 crore in EBITDA Q2FY24 • EBITDA Margin of 11.6% in Q2FY25 • PAT of Rs. 81 crore in Q2FY25 as compared to Rs. 140 crore in Q2F
Slide 6: Key Highlights for H1FY25
Key Highlights for H1FY25 Revenue* • Revenue of Rs. 2,894 crore in H1FY25 as compared to Rs. 3,554 crore in H1FY24 EBITDA* • EBITDA of Rs. 727 crore in H1FY25 as compared to Rs. 473 crore in H1FY24 54% • EBITDA Margin of 25.1% in H1FY25 PAT** • PAT of Rs. 502 crore in H1 FY25 as compared to Rs. 296
Slide 7: Key Highlights for H1FY25
Key Highlights for H1FY25 Revenue (Rs. crore) EBITDA (Rs. crore) PAT (Rs. crore) +54% +69% -19% 727* 502** 3,554 2,894* 473 296 H1 FY24 H1 FY25 H1 FY24 H1 FY25 H1 FY24 H1 FY25 Notes:* Includes Bonus of Rs. 56 crs from MSRDC and Arbitration claim of Rs. 379 crs received for 2 SPV namely PNC Raebareli
Slide 8: Order Book Details
Order Book Details PNC Infratech Limited
Slide 9: Robust Order Book over Rs. 19,900 crores
Robust Order Book over Rs. 19,900 crores ◼ Remaining value of contracts under execution of over Rs. 19,900 crore as on 30th Sept. 2024 Remaining Awarding Key EPC Projects Under Construction Value ◼ The below orders are included in order book as on 30th Sept. 2024 on which appointed Authority (Rs. Cr
Slide 10: Portfolio of Development Projects on PPP Mode
Portfolio of Development Projects on PPP Mode PNC Infratech Limited
Slide 11: Asset Monetization
Asset Monetization ◼ Divestment of Equity Stake in 12 of Company’s Road Assets ✓ The Company, along with its wholly owned subsidiary, PNC lnfra Holdings Limited have signed a Master Securities Purchase Agreement (SPA) with Highways Infrastructure Trust (HIT), an Infrastructure Investment Trust (InvI
Slide 12: 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 Sept. ‘24 Stake Partners Lanes (Rs. Crs) Amount (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Kanpur Kabrai 100% NHAI UP /
Slide 13: 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 Sept. ’24 Stake (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Dausa-Lalsot * 100% NHAI Raj/ NH11A 83.45/ 4/2 COD 820
Slide 14: Annexure – I Summary Financials
Annexure – I Summary Financials PNC Infratech Limited
Slide 15: Standalone Profitability Statement – Q2 & H1
Standalone Profitability Statement – Q2 & H1 Rs. Crores Q2 FY25 Q2 FY24 H1 FY25 H1 FY24 YoY Growth (%) REVENUE 1,149 1,693 2,894 3,554 EBITDA 134 228 727 473 54% EBITDA margin 11.6% 13.4% 25.1% 13.3% 1,183 bps Other Income 13 6 22 14 Depreciation 23 26 45 51 Financial Expenses 15 19 28 35 Profit Bef
Slide 16: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crores) Sept-24 Mar-24 EQUITY AND LIABILITIES (Rs. Crores) Sept-24 Mar-24 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 422 463 (a) Equity Share capital 51 51 (b) Right to Use Assets 6 8 (b) Other equity 5,218 4,730 (c) Capital work-in-progress 0
Slide 17: Net Working Capital Days - Standalone
Net Working Capital Days - Standalone 144 106 102 97 99 98 93 73 74 77 60 57 62 51 Mar/19 Mar/20 Mar/21 Mar/22 Mar/23 Mar/24 Sep/24 Debtors Net Working Capital PNC Infratech Limited 16
Slide 18: Consolidated Profitability Statement – Q2 & H1
Consolidated Profitability Statement – Q2 & H1 Rs. Crores Q2 FY25 Q2 FY24 H1 FY25 H1 FY24 YoY Growth (%) REVENUE 1,427 1,911 3,595 4,003 EBITDA 356 400 1,325 836 58% EBITDA margin 25.0% 20.9% 36.9% 20.9% 1,597 bps Other Income 37 21 67 41 Depreciation 40 41 80 89 Interest 204 161 395 308 Profit Befo
Slide 19: Segmental Revenue Break-up
Segmental Revenue Break-up Q2 FY24 397 Q2 FY25 277 214 140 19% 21% 10% 11% 1,300 1,010 68% 71% EPC Water Toll/Annuity EPC Water Toll/Annuity H1 FY24 818 H1 FY25 429 561 445 20% 12% 16% 11% 2,741 2,605 69% 72% EPC Water Toll/Annuity EPC Water Toll/Annuity PNC Infratech Limited 18
Slide 20: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Crores) Sept-24 Mar-24 EQUITY AND LIABILITIES (Rs. Crores) Sept-24 Mar-24 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 429 468 (a) Equity Share capital 51 51 (b) Right to Use Assets 6 8 (b) Other equity 5,778 5,134 (c) Capital work-in-progress
Slide 21: Cashflow Statement
Cashflow Statement Standalone Consolidated Rs. Crores Half Year ended 30-Sep-24 Half Year ended 30-Sep-23 Half Year ended 30-Sep-24 Half Year ended 30-Sep-23 Profit before tax 676 401 917 480 Adjustments 65 85 410 358 Operating Cash flow Before Working Capital Changes 741 486 1,327 838 Change in ope
Slide 22: Annexure – II Company Overview
Annexure – II Company Overview PNC Infratech Limited
Slide 23: 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 24: Business Overview
Business Overview Power Transmission Roads & Highways EPC Set up power transmission lines of Completed 64 infrastructure approximately 350 km of 132/220 road projects on EPC basis kilovolt lines on a turn-key basis Roads & Highways Industrial Area Development BOT / OMT/ HAM Completed first of its ki
Slide 25: Corporate Structure
Corporate Structure PNC Infra Holdings Limited (“PNCIHL”) BOT Holdco for road and other infra projects PNC Gomti Highways Private Limited (“PNCGHPL”) * 4 Laning of Jagdishpur Faizabad Section of NH 330 A on HAM PNC Bareilly Nainital Highways Private Limited (“PNCBNHPL”) * 4 laning of the Bareilly-
Slide 26: Integrated Business Model
Integrated Business Model Controls the entire process from Ownership of a fleet of modern equipment conceptualization to commissioning of a enables quick mobilization besides ensuring given project which helps in providing continuous availability of critical equipment customized solutions as per cli
Slide 27: Enhanced Execution Capability
Enhanced Execution Capability Strong Credit Rating Working Capital Limits Man and Machine added to execute more projects › Long term bank facilities “CARE AA+ › Fund Based Limits of Rs. 1,000 crores › Strengthening of In-house execution (Double A plus)” which will enable us to execute projects team
Slide 28: Enhanced to Augment and upgrade the execution
Enhanced to Augment and upgrade the execution Rs. Crores 1,317 1,341 1,335 1,267 1,273 1,094 1,016 FY19 FY20 FY21 FY22 FY23 FY24 Sep-24 Present Capex will enable us to achieve a Turnover of Rs. 10,000-12,000 crores PNC Infratech Limited 27
Slide 29: Strengthening of in-house execution team
Strengthening of in-house execution team No. of Employees 10,187 9,599 9,387 8,879 8,371 8,334 8,113 FY19 FY20 FY21 FY22 FY23 FY24 Sep-24 Strengthening of In-house execution team with induction of engineers with strong technical knowledge PNC Infratech Limited 28
Slide 30: Strong Credit Rating
Strong Credit Rating Upgraded Reaffirmed ◼ PNC Infratech Ltd. ◼ PNC Gomti Highways Pvt. Ltd. * ✓ Long term bank facilities at CARE AA+; Stable (Double A plus; Outlook: Stable) ✓ Long term bank facilities at CARE A+ (RWP) (Placed on Rating Watch with ✓ Reaffirmed Short term bank facilities at CARE A1
Slide 31: Experienced Promoters
Experienced Promoters Mr. Pradeep Kumar Jain Mr. Naveen Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh 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 experience
Slide 32: Board of Directors
Board of Directors Mr. Pradeep Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh 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 Chander K
Slide 33: Clientele
Clientele PNC Infratech Limited 32
Slide 34: Growth Strategy
Growth Strategy ◼ Leveraging Strong Project Execution track record to diversify into new functional areas of infrastructure development Diversification ◼ Expand presence in development of industrial areas and dedicated freight corridor projects ◼ Diversify into waste management, water-related infras
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 Senior Vice President - Finance COO – IR Practice +91-9920602034 dkm@pnc