Ceigall India Limited · NSE:CEIGALL
Ceigall India — Q2 FY2025 Earnings Presentation
39 slides from Ceigall India's earnings presentation, February 2025
Slide 1: Investor Presentation Q2 & H1FY25
INVESTOR PRESENTATION Q2 & H1FY25
Slide 2: 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 3: Quarterly Business Performance
Quarterly Business Performance
Slide 4: Quarterly Business Performance
Quarterly Business Performance Revenue* (₹ Mn) EBITDA* (₹ Mn) & EBIDA Margin* (%) PAT (₹ Mn) 15.6% 15.9% +5.2% 7,338 7,721 1,196 1,229 739 655 Q2FY24 Q2FY25 Q2FY24 Q2FY25 Q2FY24 Q2FY25 Revenue* (₹ Mn) EBITDA (₹ Mn) & EBIDA Margin* (%) PAT (₹ Mn) +14.4% 14.6% 15.8% 15,759 2,484 1,434 13,781 1,180 2,0
Slide 5: Net Working Capital Days
Net Working Capital Days 10 29 40 45 61 67 64 55 45 45 42 36 37 33 25 23 21 16 17 16 18 16 14 11 8 FY21 FY22 FY23 FY24 H1 FY25 Inventory Debtors WIP Creditors Net Working Capital 5
Slide 6: Strong Order Book (1/2)
Strong Order Book (1/2) Balance Sept’24 Sr.No Name of Project/Work Type (₹ Crs) Construction of Four Laning of part of Ramban to Banihal Section of NH- 1A (Now NH-44), from Ch.165+092 to Ch.171+855 (North Bound) and from Ch.166+895 to Ch.173+638 (South Bound) and 1 Section from Ch.167+960 to Ch.168+
Slide 7: Strong Order Book (2/2)
Strong Order Book (2/2) Balance Sept’24 Sr.No Name of Project/Work Type (₹ Crs) Design and Construction of elevated viaduct and 3 Nos. elevated stations (viz. ISBT, Guru KaTaal & Sikandara Metro Station) including Civil, Associated Ancillary Structure, Architectural Finishes, Water 12 Supply, Sanita
Slide 8: Consolidated Income Statement – Q2 & H1 FY25
Consolidated Income Statement – Q2 & H1 FY25 Particulars (₹ million) Q2 FY25 Q2 FY24 Y-o-Y Q1 FY25 Q-o-Q H1 FY25 H1 FY24 Y-o-Y Revenue from Operations 7,722 7,408 8,224 15,946 13,909 Total Revenue 7,722 7,408 4.2% 8,224 -6.1% 15,946 13,909 14.6% Cost of Material Consumed 2,188 2,296 2,768 4,956 4,75
Slide 9: Consolidated Balance Sheet Statement – H1 FY25
Consolidated Balance Sheet Statement – H1 FY25 Particulars (₹ million) Sept ‘25 Mar ‘24 Particulars (₹ million) Sept ‘25 Mar ‘24 Equity ASSETS (a) Equity share capital 871 786 Non ‐ Current Assets (b) Other equity 15,993 8,092 Property, plant and equipment 2,817 2,960 Equity attributable to equity h
Slide 10: Consolidated Cash Flow Statement – H1 FY25
Consolidated Cash Flow Statement – H1 FY25 Cash Flow Statement (₹ million) Sept ‘25 Sept ‘24 Cash Flow from Operating Activities Profit before Tax 1,921 1,576 Adjustment for Non-Operating Items 808 609 Operating Profit before Working Capital Changes 2,730 2,184 Changes in Working Capital -5,302 -1,6
Slide 11: Ongoing EPC Project Portfolio (1/2)
Ongoing EPC Project Portfolio (1/2) % State / Kms / Total Project Sr.No Project Authority Type JV Partners Stake Stretch Lanes Cost (₹ Crs) Construction of Four Laning of part of Ramban to Banihal Section of NH- 1A (Now NH-44), from Ch.165+092 to Ch.171+855 (North Bound) and from Ch.166+895 to Ch.17
Slide 12: Ongoing EPC Project Portfolio (2/2)
Ongoing EPC Project Portfolio (2/2) % State / Kms / Total Project S.No Project Authority Type JV Partners Stake Stretch Lanes Cost (₹ Crs) Improvement/Upgradation, Widening and strengthening of Mansi-fungo Halt, Bakhtiyarpur section of Mansi Sahara Hardi Chaughara Road (SH-95) from 9 100% Bihar Biha
Slide 13: Ongoing HAM Project Portfolio
Ongoing HAM Project Portfolio Invested Company's share of Total Debt % State / Kms / Total Project Debt as of Sept ‘24 Sr.No Project Authority Status Equity as of Sept ‘24 Invested Amount Sanctioned Stake Stretch Lanes Cost (₹ Crs) (₹ Crs) (₹ Crs) (₹ Crs) (₹ Crs) Six laning of Jodhpur Romana (Bathin
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 ₹ 12,153 Cr ₹ 30,294 Mn Experience in Highways As on Sept 30, 2024 Revenue and Roads (FY21 – FY24 CAGR of 36%) 34+ 22 ₹ 5
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: Healthy Orderbook Giving Long Term Revenue Visibility
Healthy Orderbook Giving Long Term Revenue Visibility Balanced Mix of EPC and HAM projects Order Book as on Sept ‘2024 ₹ 57,000.00 Mn ₹ 55,000.00 Mn 1.2% Single NHAI EPC Single NHAI HAM 12.6% Project bid Eligibility1 Project bid Eligibility1 2.9% 0.5% 1.2% 49.2% 49.6% 22 78.13% 82.8% Ongoing Project
Slide 22: 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 23: 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 24: 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 25: 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 26: 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 27: Strong Managerial Personnel (2/2)
Strong Managerial Personnel (2/2) Led by Experienced Management Team Ravindra Singh Sikarwar, Puneet Sharma, Yashpal Singh, Chitwon Wason, Ashwani Kumar, Deputy General Manager - Deputy General Manager – Head HR Head BD Senior Vice President Procurement & Stores Business Development • Mr. Yashpal Si
Slide 28: Industry Overview
Industry Overview sf
Slide 29: Industry Overview (1/3)
Industry Overview (1/3) Continued High Investment Momentum in Key Infrastructure Sectors Major Infrastructure Development Plans in India 11,995 12000 11,201 • Focus: Big public investment for modern infrastructure 9,743 9,383 9,906 10,478 Gati Shakti • Investment: Rs 750 Billion for 100 critical tra
Slide 30: Industry Overview (2/3)
Industry Overview (2/3) Road Sector Railways and Metro Lines Proposed Expenditure under NRP (₹ Trillion) Budget Allocation for MORTH (₹ Billions) 2,763 2,780 Indian Railways: 4th Largest globally FY41- FY21- 68,043 km and 7,308 stations as of FY22 2,171 118 58 FY51, FY26, 5.8 111 13.9 1,236 992 102
Slide 31: Industry Overview (3/3)
Industry Overview (3/3) Road Sector Railways and Metro Lines With India’s increasing population, water availability and its management are projected to become major concerns • 149 airports carrying approximately 327.00 million passengers Current Status annually Government of India has introduced var
Slide 32: Consolidated Financials Highlights
Consolidated Financials Highlights
Slide 33: 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 34: 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 34
Slide 35: 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 36: 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 37: 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 38: 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 39: Ceigall India Limited Contact
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