Ceigall India Limited · NSE:CEIGALL
Ceigall India — Q3 FY25 Earnings Presentation
34 slides from Ceigall India's earnings presentation, Feb 4, 2025
Slide 1: Exchange filing cover letter
Date: 04-02-2025 To, To, The General Manager, Manager-Listing Compliance, Department of Corporate Services, National Stock Exchange of India Limited, BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra East, Dalal Street, Mumbai- 400001 Mumbai – 400051 Sc
Slide 2: Investor Presentation Q3 & 9M FY25
INVESTOR PRESENTATION Q3 & 9M FY25
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Ceigall India 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 securiti
Slide 4: Quarterly Business Performance
Quarterly Business Performance
Slide 5: Standalone Business Performance – Q3 & 9M FY25
Standalone Business Performance – Q3 & 9M FY25 Revenue* (₹ Mn) EBITDA* (₹ Mn) & EBIDA Margin* (%) PAT (₹ Mn) 13.8% 12.9% +10.3% 8,101 1,014 1,049 748 7,342 682 Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25 Revenue* (₹ Mn) EBITDA* (₹ Mn) & EBIDA Margin* (%) PAT (₹ Mn) +14.8% 13.4% 12.8% 23,727 3,02
Slide 6: Consolidated Business Performance – Q3 & 9M FY25
Consolidated Business Performance – Q3 & 9M FY25 Revenue* (₹ Mn) EBITDA* (₹ Mn) & EBIDA Margin* (%) PAT (₹ Mn) 19.6% 1 14.8% +20.2% 8,304 1,357 782 1,232 708 6,910 Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25 Revenue* (₹ Mn) EBITDA* (₹ Mn) & EBIDA Margin* (%) PAT (₹ Mn) +16.3% 16.3% 1 15.4% 24,06
Slide 7: Standalone Income Statement – Q3 & 9M FY25
Standalone Income Statement – Q3 & 9M FY25 Particulars (₹ million) Q3 FY25 Q3 FY24 Y-o-Y Q2 FY25 Q-o-Q 9M FY25 9M FY24 Y-o-Y Revenue from Operations 8,101 7,342 8,096 23,727 20,677 Bonus & Royalty Income 1 108 1 203 294 Total Revenue 8,102 7,450 8.8% 8,097 0.1% 23,930 20,971 14.1% Cost of Material C
Slide 8: Consolidated Income Statement – Q3 & 9M FY25
Consolidated Income Statement – Q3 & 9M FY25 Particulars (₹ million) Q3 FY25 Q3 FY24 Y-o-Y Q2 FY25 Q-o-Q 9M FY25 9M FY24 Y-o-Y Revenue from Operations 8,304 6,910 7,721 24,063 20,687 Bonus & Royalty Income 1 38 1 189 171 Total Revenue 8,305 6,948 19.5% 7,722 7.6% 24,251 20,858 16.3% Cost of Material
Slide 9: Net Working Capital Days
Net Working Capital Days 10 29 40 45 66 69 63 55 57 45 45 36 37 33 25 23 21 16 17 16 18 14 15 11 8 FY21 FY22 FY23 FY24 9M FY25 Inventory Debtors WIP Creditors Net Working Capital 8
Slide 10: Debt Positioning as on December 31, 2024
Debt Positioning as on December 31, 2024 Consolidated Debt ₹ Mn Term Loan - Equipment Term Loan 484.89 Net Debt to Equity (x) - Term Loan 3,920.74 - HAM Term Loan - Malout Abohar Sadhuwali (COD achieved on 06/06/2023) 2,431.25 (Two annuities received till date amounting to Rs. 1,283.22 million from
Slide 11: Healthy Orderbook Giving Long Term Revenue Visibility
Healthy Orderbook Giving Long Term Revenue Visibility Balanced Mix of EPC and HAM projects ₹ 57,000.00 Mn (EPC) 22 Order Book as on Dec ‘24 ₹ 55,000.00 Mn (HAM) 1.2% 12.7% Ongoing Projects2 2.4% 0.3% Single NHAI Project bid Eligibility1 (14 EPC, 1 BOT and 7 HAM) 1.2% 47.9% 50.8% ₹ 1,17,025 Mn 79.62%
Slide 12: Strong Order Book – EPC & BOT Projects (1/2)
Strong Order Book – EPC & BOT Projects (1/2) Kms / Total Project % Balance Order Book as on Sr.No Project % Stake Authority State Type JV Partners Lanes Cost (Rs. Crs) Completion Dec 2024(Rs. Crs) Construction of Four Laning of part of Ramban to Banihal (Package-III) in the 1 100% NHAI J&K EPC 21.19
Slide 13: Strong Order Book - HAM Projects (2/2)
Strong Order Book - HAM Projects (2/2) Company's Debt as Balance Invested Total Debt share of on Dec Order Book Total Project Equity as on Sanctioned % Sr.No Project % Stake Authority State Kms/Lanes Status Invested 2024 (Rs. as on Cost (Rs. Crs) Dec 2024 (Rs. Crs) Completion Amount (Rs. Crs) Dec 20
Slide 14: Company Overview
Company Overview
Slide 15: Ceigall India Limited: One of the Fastest Growing EPC Company
Ceigall India Limited: One of the Fastest Growing EPC Company Established Infrastructure Problem Construction Company Problem Healthy Order Book Problem Financials FY24 20+ Years ₹ 1,17,025 Mn ₹ 30,294 Mn Experience in Highways As on Dec 31, 2024 Revenue and Roads (FY21 – FY24 CAGR of 36%) 34+ 22 ₹
Slide 16: The Road to Success
The Road to Success Over the last two decades, our Company has transitioned from a small construction company to an established EPC player2 2022 2023 2024 Acquired 50% stake in RK Infra to Allocated a contract for construction of Completed the first HAM improve project execution and 16.85- kilometre
Slide 17: 20+ years of Experience in Undertaking Specialized Structural Work
20+ years of Experience in Undertaking Specialized Structural Work 20+ years of Experience in Undertaking Specialized Structural Work Elevated Roads Flyovers and Bridges Rail Over Bridges (ROB) Tunnels Highways & Expressways Airport Runways Our Landmark Projects Delhi- Saharanpur PKG II Ismailabad-
Slide 18: Project Execution Capability Across Various States
Project Execution Capability Across Various States Jammu & Kashmir 2 2 Himachal Pradesh 7 Punjab 13 1 Delhi* 6 Uttar Pradesh 1 1 Haryana 4 2 Bihar 1 Rajasthan* 1 2 Jharkhand Ongoing Project (#’s) Completed Project (#’s) *These projects are under JVs 1 Odisha Maharashtra 1 Demonstrated Project Execut
Slide 19: Our Key Strategies
Our Key Strategies Led by Experienced Management Team Continue to Grow and Benefit from Diversification by leveraging Selectively expand our Continue to explore HAM Continue focusing on enhancing India’s Economy & Infrastructure Growth existing capabilities geographical footprint opportunities execu
Slide 20: Our Strengths
Our Strengths
Slide 21: Demonstrated Project Development, Execution and Operational Capabilities (1/2)
Demonstrated Project Development, Execution and Operational Capabilities (1/2) 34+ 1,740 2,159 Projects Completed, including 16 EPC Lane kms of roads and highways Lane kms of O&M Projects and 1 HAM constructed completed Received Awards for our Operational and 7 Projects completed ahead of schedule B
Slide 22: Demonstrated Project Development, Execution and Operational Capabilities (2/2)
Demonstrated Project Development, Execution and Operational Capabilities (2/2) • Experience in executing projects across diverse geographic locations Experience and • Specialized in construction in high-traffic and high-density areas Expertise • Construction of specialized structures such as tunnels
Slide 23: Efficient Business Model
Efficient Business Model Strategically Bidding • Careful identification of projects and cost optimization for Projects • Undertaking: technical surveys, feasibility studies and cost analysis • Ensuring high quality construction during execution stage to reduce maintenance and repair costs during Exe
Slide 24: Experienced Board of Directors
Experienced Board of Directors Diverse, Qualified and Experienced Board of Directors with experience across various sectors Ramneek Sehgal, Puneet Singh Narula, Anisha Motwani, Arun Goyal, Vishal Anand, Gurpreet Kaur, Managing Director Whole-Time Director Independent Director Independent Director In
Slide 25: Strong Managerial Personnel (1/2)
Strong Managerial Personnel (1/2) Led by Experienced Management Team Bhagat Singh, Kapil Agarwal, Megha Kainth, Ramesh Kumar Gupta, Group Chief Financial Officer Chief Financial Officer Company Secretary and Compliance Officer Chief Operating Officer • Responsible for assessing and • Responsible for
Slide 26: Strong Managerial Personnel (2/2)
Strong Managerial Personnel (2/2) Led by Experienced Management Team Ravindra Singh Sikarwar, Puneet Sharma, Deepak Kumar, Chitwon Wason, Ashwani Kumar, Deputy General Manager - Deputy General Manager – Head HR Head BD Senior Vice President Procurement & Stores Business Development • HR professional
Slide 27: Consolidated Financials Highlights
Consolidated Financials Highlights
Slide 28: Strong Financial Metrics with a Healthy Margin Profile and Return Ratios (1/2)
Strong Financial Metrics with a Healthy Margin Profile and Return Ratios (1/2) Consistent Growth In Order Book (₹ Mn) Significant Increase In Revenue (₹ Mn) Book to bill ratio (x) 2.3 5.6 5.2 3.1 30,294 1,08,090 92,258 20,682 63,461 11,338 8,732 19,808 2021 2022 2023 2024 2021 2022 2023 2024 EBITDA
Slide 29: Strong Financial Metrics with a Healthy Margin Profile and Return Ratios (2/2)
Strong Financial Metrics with a Healthy Margin Profile and Return Ratios (2/2) Net Debt / EBITDA (times) Total Debt / Equity (times) 1.3 1.2 1.2 1.2 0.7 0.7 0.1 -0.8 2021 2022 2023 2024 2021 2022 2023 2024 ROE % ROCE % 37 51 34 29 28 30 32 29 2021 2022 2023 2024 2021 2022 2023 2024 28
Slide 30: Consolidated Income Statement
Consolidated Income Statement Particulars (₹ million) FY24 FY23 FY22 FY21 Revenue from Operations 30,294 20,682 11,338 8,732 Total Revenue 30,294 20,682 11,338 8,732 Cost of Material Consumed 10,531 6,871 4,115 3,416 Cost of Construction 12,978 9,874 4,599 3,335 Total Raw Material 23,509 16,745 8,71
Slide 31: Consolidated Balance Sheet Statement (1/2)
Consolidated Balance Sheet Statement (1/2) Particulars (₹ million) FY 24 FY 23 FY 22 FY 21 ASSETS Non ‐ Current Assets Property, plant and equipment 2,960 2,460 1,255 673 Capital work‐in‐progress 20 18 39 7 Right of use assets 49 28 - - Intangible assets 1 0 1 - Financial Assets (i) Investments 22 3
Slide 32: Consolidated Balance Sheet Statement (2/2)
Consolidated Balance Sheet Statement (2/2) Particulars (₹ million) FY 24 FY 23 FY 22 FY 21 Equity (a) Equity share capital 786 393 393 10 (b) Other equity 8,092 5,538 3,920 3,043 Equity attributable to equity holders of the parent 8,877 5,931 4,313 3,053 Non‐controlling interests 187 Total Equity 9,
Slide 33: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Cash Flow Statement (₹ million) FY24 FY23 FY22 FY21 Cash Flow from Operating Activities Profit before Tax 4,054 2,252 1,695 1,513 Adjustment for Non-Operating Items 1,175 745 185 96 Operating Profit before Working Capital Changes 5,228 2,997 1,880 1,609 Changes in Wo
Slide 34: Ceigall India Limited contact and investor relations
COMPANY : CEIGALL INDIA LIMITED CIN : L45201PB2002PLC025257 ir@ceigall.com Email: ir@ceigall.com www.ceigall.com INVESTOR RELATIONS ADVISORS : Mr. Nikunj Jain +91 9769060608 nikunj.jain@linkintime.co.in Mr. Ankit Jain +91 9920834049 ankit.jain@linkintime.co.in