Dilip Buildcon Ltd. · NSE:DBL
Dilip Buildcon — Q4 FY2021 Earnings Presentation
45 slides from Dilip Buildcon's earnings presentation, May 28, 2021
Slide 1: Investor Presentation Cover Letter to Stock Exchanges
DILIP BUILDCON LIMITED INFRASTRUCTURE & BEYOND Date: May 28,2021 To To BSE Limited National Stock Exchange of India Ltd. Listing Department Exchange Plaza, C-1, Block G P.J Tower, Dalal Street BandraKurla Complex, Mumbai- 400001 Bandra (E), Mumbai - 400051 Stock Symbol -540047 Stock Symbol-DBL Sub :
Slide 2: Dilip Buildcon Limited Earnings Presentation Q4FY21
Dilip Buildcon Limited Earnings Presentation Q4FY21
Slide 3: Table of Content
Table of Content 01 02 03 04 05 06 Business Standalone Financial Consolidated Financial Company Divestment Key Project Updates Highlights Highlights Highlights Overview Page No: 03 Page No: 14 Page No: 25 Page No: 27 Page No: 30 Page No: 36
Slide 4: Business Highlights
Business Highlights Earnings Presentation 3
Slide 5: Highlights of the Year
Highlights of the Year 3 New Territory added namely Won 15 Projects worth Bihar, Uttarakhand & ₹ 2,19,581Mn* Puducherry Exceeding Commitments Revenue Growth amid Covid Challenges Completed 4 projects on or before schedule time Largest diversified order book in the history of DBL * Rs. 14,728 Mn take
Slide 6: Highlights of the Quarter
Highlights of the Quarter DEBT Revenue Growth Debt Reduction Won 6 New HAM by ₹ 2,926 Mn Projects worth ₹ 68,770Mn Improved Working Capital Cycle Increased Profitability Earnings Presentation 5
Slide 7: Projects won during FY21
Projects won during FY21 Special Tunnel Mining Tamilnadu & Puducherry Andhra Bridge 6% 7% 10% Pradesh HAM 9% 5% 55% Odisha 7% Gujarat 23% ₹ 2,19,581 Mn* ₹ 2,19,581 Mn* ₹ 2,19,581 Mn* Rajasthan Jharkhand 4% Bihar 9% 9% EPC Irrigation Roads 45% 19% 59% Karnataka UttarakhandTelangana 22% 6% 5% Sector-w
Slide 8: Projects won during FY21
Projects won during FY21 (₹ mn) Contract Value Period in which Project Name Type State Name of Employer LOA Date including GST order Won Bhadbhut Barrage Irrigation Gujarat NWRWS 41,677 22.07.2020 Q2 Dhrol - Bhadra Patiya and Bhadra Patiya –Pipaliya section Road Gujarat NHAI 8,820* 14.12.2020 Q2 Sah
Slide 9: Projects completed during FY21
Projects completed during FY21 (₹ mn) Actual Early Name of the Length Scheduled Date of Project Name State Type of work Cost of work Completion Completion Employer (Kms) Completion Date Days NHAI Mahagaon-Yavatmal Maharashtra HAM 8,578 80.20 26.08.2020 23.05.2020 95 NHAI Byrapura-Challakere Karnatak
Slide 10: Business Division
Business Division ₹ 1,41,841 mn ₹ 46,650 mn ₹ 40,303mn ₹ 3,246 mn 51.75% 17.02% 14.70% 1.18% ROADS & MINING HIGHWAYS IRRIGATION METRO SPECIAL AIRPORT TUNNEL BRIDGES Total Order Book – ₹ 2,74,114 mn* ₹ 16,967 mn ₹ 3,844 mn ₹ 21,264 mn 6.19% 1.40% 7.76% * Rs. 14,728 Mn taken for Siarmal Open Cast Proj
Slide 11: Increasing diversification
Increasing diversification Tunnel Irrigation Special Bridge 7.76% Irrigation Special 2.53% Metro 3.95% Airport Urban Tunnel Bridge 0.18% Special Special Metro Development 2.01% Airport 6.19% 1.40% Bridge Airport 2.02% 1.45% 0.59% Bridge 3.02% 4.69% 3.69% 0.23% Metro Mining Irrigation 7.45% 1.18% Min
Slide 12: Total Order Book
Total Order Book (₹ mn) 274,114 * 238,881 211,718 190,816 175,683 107,787 74,747 51,609 FY14 FY15 FY16 FY17 FY18 FY19 FY20 FY21 * Rs. 14,728 Mn taken for Siarmal Open Cast Project (MDO) order for 1 year , Contract value of the project is Rs. 3,68,191 Mn for 25 years Earnings Presentation 11
Slide 13: Order Book – Client Wise
Order Book – Client Wise 50.51% 27.61% 12.57% 4.09% 1.68% 1.40% 2.13% NHAI MORTH COAL INDIA AAI RVNL STATE PSPCL 70% of the order book from the 30% of the order book from the Central Government state government Earnings Presentation 12
Slide 14: Order Book Geography Wise, Contract Type Wise
Order Book Geography Wise Order Book Contract Type Wise HAM Bihar Odisha Karnataka 40% 5% 9% 17% Uttarakhand 4% Chhattisgarh 2% Gujarat 16% Uttar Pradesh 9% Rajasthan 4% Madhya Pradesh 7% Tamilnadu & Andhra Pradesh Puducherry 4% 6% Jharkhand EPC Maharashtra Goa Telangana 1% 11% 60% 4% 3% Earnings Pr
Slide 15: Standalone Financial Highlights
Standalone Financial Highlights Earnings Presentation 14
Slide 16: Results Summary – Q4FY21 (Standalone)
Results Summary – Q4FY21 (Standalone) 4,00 0 Revenue (₹ mn) EBITDA (₹ mn) Profit after Tax (₹ mn) 17% 8,00 0 29,299 9% 14% 25,093 4,222 4,612 1,330 1,162 4,00 0 - - Q4FY20 Q4FY21 Q4FY20 Q4FY21 Q4FY20 Q4FY21 Contract Revenue Breakup Roads, Special Irrigation Metros & Airports Mining Bridges & Tunnels
Slide 17: Results Summary – FY 2021 (Standalone)
Results Summary – FY 2021 (Standalone) Revenue (₹ mn) EBITDA (₹ mn) Profit after Tax (₹ mn) -7% 2.5% 16,033 -24% 14,981 4,267 90,151 92,380 3,249 FY20 FY21 FY20 FY21 FY20 FY21 Contract Revenue Breakup Roads, Special Irrigation Metros & Airports Mining Bridges & Tunnels 2% >100% >100% 18% FY21 - 76,5
Slide 18: Result Update – Standalone
Result Update – Standalone (₹ mn) Particulars Q4FY21 Q3FY21 Q4FY20 Y-o-Y (%) FY21 FY20 Y-o-Y (%) Revenue 29,299 24,729 25,093 16.76% 92,380 90,151 2.47% Operating expenses 24,688 20,601 20,870 18.29% 77,399 74,118 4.43% EBITDA 4,612 4,129 4,222 9.22% 14,981 16,033 -6.56% EBITDA Margin (%) 15.74% 16.
Slide 19: Standalone Profit & Loss – Q4FY21
Standalone Profit & Loss – Q4FY21 (₹ mn) Standalone Particulars Highlights Q4FY21 Q4FY20 Revenue from Operations 29,250 24,997 Other income 50 96 o Revenue increased by 17% Y-o-Y basis Total Income 29,299 25,093 o PAT increased by 14 % Y-o-Y basis Expenses o Depreciation decreased by 9% Y-o-Y Cost o
Slide 20: Standalone Profit & Loss – FY21
Standalone Profit & Loss – FY21 (₹ mn) Standalone Particulars Highlights FY21 FY20 Revenue from Operations 92,089 89,838 Other income 291 313 o Revenue decreased by 2.5% Y-o-Y basis Total Income 92.380 90,151 Expenses o PAT decreased by 24% Y-o-Y basis on account of reduction in EBITDA and Cost of m
Slide 21: Standalone Balance Sheet
Standalone Balance Sheet (₹ mn) Particulars Mar’21 Dec’20 Mar’20 Particulars Mar’21 Dec’20 Mar’20 ASSETS EQUITY AND LIABILITIES Non-current assets Equity (a) Property, plant and equipment 18,954 18,790 20,010 (a) Equity share capital 1,368 1,368 1,368 1 12 43 (b) Other equity 37,804 36,475 34,692 (b
Slide 22: Standalone Cash flow – FY21
Standalone Cash flow – FY21 (₹ mn) Particulars 9MFY21 Q4FY21 FY21 Particulars 9MFY21 Q4FY21 FY21 CASH FLOW FROM OPERATING ACTIVITIES CASH FLOW FROM INVESTMENT ACTIVITIES Net profit before tax as per Statement of Profit and Purchase of Fixed Assets (2,019) (1,255) (3,274) 2,897 2,151 5,048 Loss Sale
Slide 23: Net Working Capital Days – Quarterly
Net Working Capital Days – Quarterly Decreased 140 by 8 Days Decreased 127 127 by 22 Days 119 104 120 114 101 107 103 93 90 87 100 96 100 89 85 83 82 80 80 82 77 71 72 71 71 69 69 69 60 65 66 66 63 61 62 61 63 63 59 60 57 60 59 55 56 55 53 51 48 49 50 40 44 37 20 119 113 103 102 95 86 91 89 100 105
Slide 24: Net Debt to Equity Ratio – Quarterly
Net Debt to Equity Ratio – Quarterly (Working Capital & Equipment Debt) 0.87 0.81 0.77 0.63 0.69 0.70 0.58 0.55 0.48 0.53 0.51 0.57 0.48 0.58 0.60 0.47 0.50 0.45 0.46 0.45 0.54 0.47 0.46 0.44 0.39 0.35 0.32 0.36 0.30 0.25 1.35 1.35 1.24 1.13 1.14 1.16 1.06 1.01 0.95 0.81 0.92 0.90 0.90 0.87 0.79 30.
Slide 25: Income Tax
Income Tax Effective tax rate for FY Company is not opting 2021-22 will be ~35%. for concessional rate of However, Company MAT credit unutilized tax u/s 115BAA as it will does not envisage as on 31st March 2021 Effective tax rate for result into higher cash additional payouts is ₹. 2,402 Mn FY 21 is
Slide 26: Consolidated Financial Highlights
Consolidated Financial Highlights Earnings Presentation 25
Slide 27: Consolidated Profit & Loss – Q4/FY21
Consolidated Profit & Loss – Q4/FY21 Particulars (₹ mn) Q4FY21 Q3FY21 Q4FY20 Y-o-Y (%) FY21 FY20 Y-o-Y (%) Revenue from Operations 31,355 27,462 27,297 14.87% 1,01,683 97,249 4.56% Other income 80 127 108 -26.00% 422 377 12.07% Total Income 31,435 27,589 27,405 14.71% 1,02,105 97,626 4.87% Expenses
Slide 28: Divestment
Divestment Earnings Presentation 27
Slide 29: Divestment of Road Assets
Divestment of Road Assets The Company has 12 HAM Assets which are either committed or at an advance stage of Monetisation FY-21-22 FY-22-23 Expected Divestment Expected Divestment Consideration Consideration ~ ₹ 9,000 Mn ~ ₹ 11,000 Mn Company looking for ~ ₹ 20,000 Mn from Divestment Consideration E
Slide 30: Equity Tracker for HAM & Coal Projects
Equity Tracker for HAM & Coal Projects (₹ mn) Actual Invested FY 21-22 FY 22-23 FY 23-24 Particulars Requirement Till Mar-21 Projected Projected Projected Investment in 12 HAM projects – Awarded in 2018 15,640 13,826 1,814 - - Investment in 5 HAM projects - Awarded in 2020 5,362 956 2,261 1,781 364
Slide 31: Key Project Updates
Key Project Updates Earnings Presentation 30
Slide 32: Hybrid Road Projects – Progress
Hybrid Road Projects – Progress (₹ mn) Milestone Plan Milestone Achieved Early % of work done Sr. Payment Milestone Project Name Appointed Date Achieved as on No (Grant) Date Days Date Days (Days) 30.04.2021 1 DBL Anandpuram Anakapalli Highways Pvt. Ltd. 4th PM, 75% Progress 04.01.2019 23.05.2021 87
Slide 33: Hybrid Road Projects – Progress
Hybrid Road Projects – Progress (₹ mn) Milestone Plan Milestone Achieved Early % of work done Sr. Payment Milestone Project Name Appointed Date Achieved as on No (Grant) Date Days Date Days (Days) 30.04.2021 1 Pathrapali Kathghora Highways Private Limited 1st PM, 10% Progress 04.12.2020 25.03.2021 1
Slide 34: Key Outstanding Road EPC Projects
Key Outstanding Road EPC Projects (₹ mn) Contract Outstanding Order Schedule Date of Project name Type Length (Kms) LOA Date Date of Start Value Book as on 31.03.2021 Completion with EOT Dagmagpur-Lalganj (Package 2) Road 6,875 643 47.70 Mar-18 Dec-18 Sep-21 Lalganj-Hanumana (Package 3) Road 6,045 1
Slide 35: Airport, Mining and Irrigation Projects
Airport ,Mining and Irrigation Projects Airport (₹ mn) Outstanding Order Book as Schedule date of Project name Type Contract Value LOA Date Date of Start on 31.03.2021 Completion Construction of New Greenfield Airport at Hirasar, Rajkot Airport 5,701 3,844 Feb-20 Feb-20 Aug-22 Mining Contract Outsta
Slide 36: Special Bridges, Tunnel and Metro Projects
Special Bridges, Tunnel and Metro Projects Special Bridge (₹ mn) Contract Outstanding Order Book as Schedule date of Project name Type LOA Date Date of Start Value on 31.03.2021 Completion Zuari Bridge -(Package II ) Special Bridge 5,454 1,053 Feb-16 April-16 Dec-21 Zuari Bridge -(Package I ) Specia
Slide 37: Company Overview
Company Overview Earnings Presentation 36
Slide 38: Overview
Overview No subcontracting, Largest owner of Diversified areas of expertise Pan India presence Construction equipment’s Roads, bridges, buildings, vertically integrated 19 states & 1 Union 12,746 metros, dams, canals, water and use of technology Territory supply & mining ₹ Largest employer in Best p
Slide 39: Our Journey
Our Journey After building an enviable reputation for ahead-of-time-execution in its home state, Enters into Tunnels and Metros the Company decides to foray outside for After building roads segments. Revenue grows to more The young firm witnesses a in multiple the first time and goes to Himachal Pra
Slide 40: Pan India Project Execution Capability
Pan India Project Execution Capability (₹ mn) State Completed Ongoing Gross Ongoing Net Andhra Pradesh 29,045 21,305 10,048 Bihar - 12,699 12,699 Himachal Chhattisgarh 7,038 8,127 4.193 Pradesh Goa 1,250 14,031 2,157 Punjab Uttarakhand Gujarat 9,589 48,894 44,571 Haryana Haryana 4,637 - - Rajasthan
Slide 41: Backward Integration
Backward Integration Octagonal Poles Pipe Rolling Metal Beam Crash Road Marking Bus Shelter Sign Boards Scaffolding Barrier Paint Bearing & Reinforced Earth Fabricated Casting Overhead Overhead Foundry Expansion Joint Walls Panels and Moulds Gantries Cantilevers To further support our in-house execu
Slide 42: Leadership Team
Leadership Team Mr. Dilip Suryavanshi Mrs. Seema Suryavanshi Mr. Devendra Jain Chairman and MD Executive Director Executive Director & CEO Dilip Suryavanshi is the Chairman and Managing Director of our Seema Suryavanshi is an Executive Director of our Company. She Devendra Jain is an Executive Direc
Slide 43: Awards, Accreditation & Accolades
Awards, Accreditation & Accolades National Highway Excellence CNBC Awaaz CEO awards 2019 Dun & Bradstreet Construction World Global National Highway Excellence Single Largest Customer of Award 2020 for Excellence in for "Company of the Year" in Construction-Infrastructure Award 2019 3rd Fastest Grow
Slide 44: Awards, Accreditation & Accolades
Awards, Accreditation & Accolades Largest Fleet Owner of EC210B Valued Customer of Bitumen Single Largest Customer of Star Achiever by GK TMT in 2014 Road Contractor of the Year by Hydraulic Excavators in India by by BPCL in 2015 Caterpillar GCI in India in 2014 Construction Week in 2016 Volvo in 20
Slide 45: Thank You
Thank You Dilip Buildcon Limited S-Ancial Global Solutions Pvt Ltd. Plot No. 5, Inside Govind Narayan Singh Gate, Chuna Bhatti, (Investor Relations) Kolar Road, Bhopal Madhya Pradesh - 462 016 0755 - 215, Shivshakti Industrial Estate, J. R. Boricha Marg, Lower 4029999 Parel (E), Mumbai - 400 011 075