Pnc Infratech Ltd · NSE:PNCINFRA
Pnc Infratech — Q3 FY20 Earnings Presentation
35 slides from Pnc Infratech's earnings presentation, Feb 6, 2020
Slide 1: Covering letter to stock exchanges
PNC lnfratech Limited An ISO 9001 '.2015 Certified Company Ref No: PNC/SE/82 ll9-20 Date: 06.02.2020 To, To, The Manager The Manager The Department of Corporate Services The Listing Department BSE Limited National Stock Exchange of India Limited Floor 25,P.J. Towers, Exchange Plaza, Bandra Kurla Com
Slide 2: Result Update Presentation – Q3 & 9M FY20
PNC Infratech Limited Result Update Presentation – Q3 & 9M FY20
Slide 3: 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 4: Key Highlights & Financials
1 Key Highlights & Financials PNC infratech 3
Slide 5: Key Highlights for Q3 FY20
Key Highlights for Q3 FY20 Revenue of Rs. 1,218 crores in Q3 FY20 as compared Revenue to Rs. 727 crores in Q3 FY19 +68% EBITDA of Rs. 171 crores in Q3 FY20 compared to EBITDA Rs. 102 Crores in Q3 FY19 +68% EBITDA Margin of 14.1% in Q3 FY20 PAT of Rs. 77 crores in Q3 FY20 compared to PAT Rs. 47 Crore
Slide 6: Key Highlights for 9M FY20
Key Highlights for 9M FY20 +84% +99% +108% Revenue EBITDA PAT Revenue of Rs. 3,720 crores EBITDA of Rs. 608 crores in 9M FY20 PAT of Rs. 384 crores in 9M in 9M FY20 as compared to compared to Rs. 306 Crores in 9M FY19 FY20 compared to Rs. 185 Rs. 2,021 crores in 9M FY19 Crores in 9M FY19 EBITDA Marg
Slide 7: Key Highlights: Early Completion Bonus
Key Highlights: Early Completion Bonus Aligarh - Moradabad Highway Project ✓ Received ‘Provisional Completion Certificate’ (PCC) for Aligarh - Moradabad Highway Project executed by the Company on EPC mode ✓ PCC received on 13th May 2019 Aligarh ✓ Company has become entitled for early completion bonu
Slide 8: Financial Closure Achieved for all HAM Projects
Financial Closure Achieved for all HAM Projects Financial Closure Achieved for All 7 Projects of which 6 Project are Under Construction Jul-16 Jun-18 Mar-17 Mar-18 BPC - Mar-17 Nov-17 BPC - Rs. 881 BPC - BPC - Rs. 1,157 Crores Crores Mar-17 Rs. 1,434 Crores Rs. 1,197 Crores BPC – BPC - Rs. 1,310 Cro
Slide 9: Order-book Details
2 Order-book Details PNC infratech 8
Slide 10: Robust Order-book of over Rs. 8,600 crores
Robust Order-book of over Rs. 8,600 crores Remaining Key EPC Projects Under Awarding Value Construction Authority (Rs. Crores) ◼ Remaining value of contracts under execution of Nagpur-Mumbai Rs. 8,696 crores as on December 31, 2019. MSRDC 1,568 Expressway ◼ The below order is not included in orderbo
Slide 11: 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 12: Portfolio of Development Projects on PPP Mode
3 PORTFOLIO OF DEVELOPMENT PROJECTS ON PPP MODE PNC infratech 11
Slide 13: 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 31st Dec ’19 Stake Stretch Partners Lanes (Rs. Crs) Amount (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Ghaziabad UP / SREI, 67.9 / 35
Slide 14: Asset Monetization Plan
Asset Monetization Plan ◼ Execution of Share Purchase Agreement (SPA) for Divestment of Stake in “Ghaziabad Aligarh Road Project” ✓ Signed SPA for sale of 35% stake (includes 19.88% holding with wholly owned subsidiary of PNC Infratech Ltd.) with Cube Highways and Infrastructure Pte. Ltd. on May 04,
Slide 15: Arbitration Award Received
Arbitration Award Received Narela Industrial Estate Project Garh Mukteshwar to Moradabad Project ❑ Realized Rs. 145.63 crore towards the final arbitration award ❑ Receipt of Rs. 145.27 crore towards an arbitration award on published in its favour of PNC Delhi Industrialinfra Private 3rd August 2019
Slide 16: 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 31st Dec ’19 Stake Stretch Partners Lanes (Rs. Crs) Amount (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Raj/ 83.45/ Dausa-Lalsot 100% NHAI Hybrid - 820 65 65
Slide 17: Annexure I – Summary Financials
4 Annexure I – Summary Financials PNC infratech 16
Slide 18: Standalone Profitability Statement – Q3 & 9M
Standalone Profitability Statement – Q3 & 9M YoY Growth YoY Growth Rs. Crores Q3 FY20 Q3 FY19 9M FY20 9M FY19 (%) (%) REVENUE 1,218.00 727.02 68% 3,719.98 2,021.16 84% EBITDA 171.21 102.14 68% 608.00 306.16 99% EBITDA margin 14.1% 14.0% 16.3% 15.1% Other Income 14.36 6.81 72.54 30.78 Depreciation 32
Slide 19: Consolidated Profitability Statement – Q3 & 9M
Consolidated Profitability Statement – Q3 & 9M YoY Growth YoY Growth Particulars (Rs. Crores) Q3 FY20 Q3 FY19 9M FY20 9M FY19 (%) (%) REVENUE 1,390.41 862.47 61% 4,255.87 2,503.94 70% EBITDA 297.41 199.00 49% 1,032.14 687.40 50% EBITDA margin 21.4% 23.1% 24.3% 27.5% Other Income 19.26 5.44 145.51 32
Slide 20: Segmental Revenue Break-up – Q3 & 9M
Segmental Revenue Break-up – Q3 & 9M 170.25 Q3 FY19 190.70 Q3 FY20 20% 14% 1,199.71 692.22 86% EPC Toll/Annuity 80% EPC Toll/Annuity 9M FY19 569.52 9M FY20 484.88 13% 19% 2,019.06 3,686.35 81% 87% EPC Toll/Annuity EPC Toll/Annuity PNC infratech 19
Slide 21: Net Working Capital Days
Net Working Capital Days* 136 136 124 129 122 122 109 113 112 92 97 86 68 73 64 56 Mar/13 Mar/14 Mar/15 Mar/16 Mar/17 Mar/18 Mar/19 Dec/19 Debtors Net Working Capital * - Standalone PNC infratech 20
Slide 22: Annexure II – Company Overview
5 Annexure II – Company Overview PNC infratech 21
Slide 23: Introduction
Introduction Established track record of timely/early completion of projects Infrastructure construction, development and management company; expertise in execution of 1 projects including highways, bridges, flyovers, airport runways, industrial areas and transmission lines Executed 66 major infrast
Slide 24: Business Overview
Business Overview 01 02 03 04 05 06 Roads & Dedicated Roads & Industrial Area Power Highways BOT / Airport Runways Freight Corridor Highways EPC Development Transmission OMT/ HAM / Railways Completed first of Completed 43 Operating 6 BOT & Executed 20 airport its kind BOT annuity Design, Set up powe
Slide 25: 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 26: Integrated Business Model
Integrated Business Model ◼ Ownership of a fleet of modern equipment enables quick Equipment ◼ Controls the entire process from In-house Design mobilization besides ensuring conceptualization to Bank & Engineering continuous availability of critical commissioning of a given project equipment which h
Slide 27: 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 28: Enhanced to augment & upgrade the execution
Enhanced to augment & upgrade the execution Rs. Crores - Capex addition 1,087 1,016 71 725 291 600 125 429 380 171 49 FY15 FY16 FY17 FY18 FY19 9M FY20 Present Capex will enable us to achieve a Turnover of Rs. 8,000-9,000 crores PNC infratech 27
Slide 29: Strengthening of In-house execution team
Strengthening of In-house execution team Current Total Employees: Over 7,500 - Employee addition 7,502 7,415 87 5,775 1,640 4,284 3,947 3,776 1,491 337 171 FY15 FY16 FY17 FY18 FY19 9MFY20 Strengthening of In-house execution team with induction of engineers with strong technical knowledge PNC infrate
Slide 30: Strong Credit Rating
Strong Credit Rating Reaffirmed Assigned / Reaffirmed Upgraded ◼ PNC Infratech Ltd. ◼ PNC Khajuraho Highways Pvt. Ltd. ◼ PNC Triveni Sangam Highways Pvt. ✓ Long term bank facilities stands at ✓ Long term bank facilities at CARE A-; Ltd. CARE AA- (Double A Minus) Stable (Single A Minus; Outlook: ✓ As
Slide 31: Experienced Promoters
Experienced Promoters Mr. Pradeep Kumar Jain Mr. Naveen Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh Kumar Jain Chairman & Managing Director Promoter Managing Director & CFO Managing Director ◼ Over 39 years of experience ◼ Over 30 years of experience in ◼ Over 29 years of experience ◼ Over 24 year
Slide 32: Board of Directors
Board of Directors Mr. Pradeep Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh Kumar Jain Mr. Anil Kumar Rao CMD Managing Director & CFO Managing Director Whole-time Director Mr. Talluri Raghupati Rao Mr. Krishan Kumar Jalan (IAS) Mr. Gauri Shankar Wholetime Director Independent Director Independent D
Slide 33: Clientele
Clientele > psiIpc Jpeida Delhi Stat dystal and Tfastrucure Developmen Upei of) saRTsUAR TAT Aw f =. Uttar Prad@h State Highways-Authority AY
Slide 34: Growth Strategy
Growth Strategy Diversification: ◼ Leveraging Strong Project Execution track record to diversify into new functional areas of infrastructure Diversification development ◼ Expand presence in development of industrial areas and dedicated freight corridor projects ◼ Diversify into waste management, wat
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 Vice President - Finance Group Account Head +91-9920602034 dkm@pncinfrat