Slide 1: Submission of Investor/Analysts Presentation to exchanges
CIN: L99999MH1949PLC007039 May 18, 2024 To, BSE Limited The National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Bandra - Kurla Complex, Mumbai - 400 001 Mumbai - 400 051 Company Code No. 531120 Company Code: PATELENG Dear Sir/Mam, Subject: Submission of
Slide 2: Patel Engineering Limited Investor Presentation Q4 FY24
Patel Engineering Limited Determined to Deliver INVESTOR PRESENTATION | Q4 FY24
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides have been prepared by Patel Engineering Ltd. (the “Company”), and have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form
Slide 4: Company Overview
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Slide 5: About Patel Engineering Limited
About Patel Engineering Limited One of the most integrated infrastructure and construction services conglomerates in India Patel Engineering Limited, founded in 1949 and headquartered in Mumbai, is a prominent player in the civil engineering construction segment. With over seven decades of experienc
Slide 6: Vision & Mission
Vision Deliver comprehensive and effective solutions to clients through our profound experience and technological prowess, while continuously creating opportunities and value for stake-holders and society. Vision & Mission Mission To be the pioneers in the industry and a market- driven organization
Slide 7: Key Facts and Figures
Key Facts and Figures 7+ decades 15 States 15,000+ 87+ Experience Current Domestic Presence MW Hydro Project Dams 300+ Kms 5.5+ Lakhs 1,200+ Kms ₹ 1,86,630 Mn of Tunnels Acres Irrigated Order book Road FY24 Cons. FY24 Cons FY24 Cons BBB+ ₹ 45,441 Mn : Revenue 2.42 : Debt To Op. EBITDA ₹ 2,641 Mn : N
Slide 8: 75 Years of Concrete Engineering
75 Years of Concrete Engineering Kodayar Project, Madras electricity Board 1970 1975 Koyna Hydro Konar Dam, Ranchi Heavy Engineering Project, Govt. of Damodar Valley Project – Buildings, Maharashtra 1954 Corporation Foundations & Structures 1949 1957 1966 1978 Canada – India Reactor, 120 MW Yamuna I
Slide 9: 75 Years of Concrete Engineering
75 Years of Concrete Engineering Successfully completed Construction of Devighat HE Project. National Hydroelectric Power Corporation, Nepal 1984 Successfully completed Yamuna HE Project , Govt. of UP First Rights Issue of Shares C 1983 Executed the prestigious order of 1986 constructing the General
Slide 10: 75 Years of Concrete Engineering
75 Years of Concrete Engineering Successfully constructed the largest Indoor Stadium for Surat Municipal Corporation in Surat in the State of Gujarat. 1998 1999 Successfully completed and also established a technological Successfully completed construction of River breakthrough by tapping of lake by
Slide 11: 75 Years of Concrete Engineering
75 Years of Concrete Engineering 2004 Completion of Dam for Completion of Teesta Shillong Water Supply, Govt Hydro Electric Project, of Meghalaya NHPC Completion of Single Line BG Completion of Srisailam Issue of bonus shares in the Tunnel for Northeast Frontier Completion of Sela Tunnel HE Project
Slide 12: Q4 FY24 Financial Highlights
Q4 FY24 Financial Highlights
Slide 13: Standalone Results Highlights
Standalone Results Highlights In ₹ Mn In ₹ Mn Q4 & FY24 Revenue Performance Q4 & FY24 Op. EBITDA and Net Profit Performance 44,120.39 6,201.06 38,171.26 5,404.79 Q4 FY23 2,881.80 Q4 FY24 11,921.83 12,569.21 1,760.03 1,875.77 1,558.54 FY23 Op. EBITDA 840.83 731.83 FY24 Net Profit Q4 FY23 Q4 FY24 FY23
Slide 14: Q4 FY24 & FY24 Standalone Results Highlights
Q4 FY24 & FY24 Standalone Results Highlights In ₹ Mn Particular Q4 FY24 Q4 FY23 Y-O-Y % FY24 FY23 Y-O-Y % Revenue from Operations 12,569.21 11,921.83 5.43% 44,120.39 38,171.26 15.59% Expenses 10,693.44 10,161.80 37,919.33 32,766.48 Operating EBITDA 1,875.77 1,760.03 6.58% 6,201.06 5,404.78 14.73% Op
Slide 15: Consolidated Results Highlights
Consolidated Results Highlights In ₹ Mn In ₹ Mn Q4 & FY24 Revenue Performance Q4 & FY24 Op. EBITDA and Net Profit Performance 45,441.08 6,902.94 38,911.47 5,615.65 2,641.00 2,375.76 13,431.79 12,050.64 1,689.54 1,548.07 1,233.71 843.68 Q4 FY23 Q4 FY24 FY23 FY24 Q4 FY23 Q4 FY24 FY23 FY24 Q4 FY23 Q4 F
Slide 16: Q4 FY24 & FY24 Consolidated Results Highlights
Q4 FY24 & FY24 Consolidated Results Highlights In ₹ Mn Particular Q4 FY24 Q4 FY23 Y-O-Y % FY24 FY23 Y-O-Y % Revenue from Operations 13,431.79 12,050.64 11.46% 45,441.08 38,911.47 16.78% Expenses 11,056.03 10,361.10 38,538.14 33,295.82 Operating EBITDA 2,375.76 1,689.54 40.62% 6,902.94 5,615.65 22.92
Slide 17: Consolidated Debt Highlight
Consolidated Debt Highlight In ₹ Mn In ₹ Mn Term Debt Working Capital Debt Total Debt Contractee Advance Total Debt Total Debt + Contractee Advance 18,854.92 17,407.76 29,765.57 26,455.81 11,119.96 12,357.81 7,600.89 10,618.73 Reduction in Net Serviceable Debt by ₹ 3,309.76 Mn in FY24. 18,854.92 174
Slide 18: Interest Break Up
Interest Break Up In ₹ Mn In ₹ Mn BG / LC Charges & Other Borrowing Cost BG / LC Charges & Other Borrowing Cost Interest on Contractee Advances Interest on Contractee Advances Interest to Lenders Interest to Lenders Total Finance Cost Total Finance Cost 4,122.22 1,037.57 756.12 3,620.94 930.87 223.1
Slide 19: FY24 Operational Highlights
FY24 Operational Highlights
Slide 20: Sela Tunnel Project
Sela Tunnel Project: An all-weather link to Tawang - Transforming India's Geopolitical and Economic Landscape Investor Presentation Q4FY24 19
Slide 21: Prime Minister inaugurated the Sela Tunnel Project
Prime Minister Shri Narendra Modi inaugurated the Sela Tunnel Project Connectivity: Links Tezpur (Assam) to Tawang (Arunachal Pradesh), improving regional connectivity, at an altitude of 13,000 ft above sea level. Economic and Geopolitical Impact: Strengthens ties to the northeast, aids border infra
Slide 22: Patel Engineering's FY24 Project Milestones
Patel Engineering’s FY24 Project Milestones. KWAR Hydroelectric Project The project located in District Kishtwar of J&K which comprises of Diversion Tunnel (DT) - 698m, 109m high Concrete Gravity Dam, Pressure Shafts (4×135 MW), Underground Power House Complex, Tailrace Tunnels (2x2875m) with Surge
Slide 23: Patel Engineering's FY24 Project Milestones
Patel Engineering’s FY24 Project Milestones. Keoti -Antagarh -Taroki New Rail Line Work A new railway line project, connecting Keoti and Taroki, was undertaken by RVNL Raipur in July 2016. This project was divided into two sections: Keoti to Antagarh (Km.42.6 to 59.86) and Antagarh to Taroki (Km.59.
Slide 24: FY24 Achievement & Awards
FY24 Achievement & Awards Awarded Best Finance Team of the Year at the Ms. Kavita Shirvaikar, Whole Time Director & CFO, has Kavita Shirvaikar, Whole Time Director & CFO, has 4th Edition of India CFO Awards 2024 been honored at the 4th Edition of India CFO Awards been honored with the prestigious ti
Slide 25: New Projects Received in FY24
New Projects Received in FY24 Dibang Multipurpose Project CIDCO - Design & Construction of Narmada-Gambhir Multi-Village Water Tunnel and Allied Works Drinking Water Supply Scheme Project Overview: Project Overview: Project Overview: Construction of Head Race Tunnels, Intake, Pressure Construction o
Slide 26: New Projects Received in FY24
New Projects Received in FY24 Sher Micro Irrigation Project Krishna Marathwada Irrigation Project Krishna Marathwada Irrigation Project – Lift Irrigation Scheme 01 – Lift Irrigation Scheme 02 Project Overview: Project Overview: Project Overview: Survey, Investigation, Designing, and Construction Inv
Slide 27: New Projects Received in FY24
New Projects Received in FY24 RCC Protection Wall Project Nira Deoghar Right Bank Main Nira Deoghar Right Bank Main Canal – (Km 66 to Km 76) Canal (Km 77 to Km 87) Project Overview: Project Overview: Project Overview: Construction of Reinforced Cement Concrete (RCC) Construction of a Pipe Distributi
Slide 28: Order Book Highlights
Order Book Highlights
Slide 29: Yearly Growth In Order Book
In ₹ Mn CAGR = 12.81% 2,08,067 1,86,630 1,44,660 1,50,110 1,31,840 1,02,150 Yearly Growth In Order Book FY19 FY20 FY21 FY22 FY23 FY24 Investor Presentation Q4FY24 28
Slide 30: Order Book Break Up
Order Book Break Up In % Segment Wise Order Book Client Wise Order Book Project Completion Wise Order Book 2.75% 3.64% 0.67% Hydroelectric 3.00% 5.48% Below 10% 10.74% Irrigation Central Government 14.50% / PSU’s 10% - 30% 37.61% 34.65% 30% - 50% Tunnel 50% - 70% 20.98% State Government Departments
Slide 31: Diversely Spread Works De-Risking Business
Jammu and Diversly Spread Works Kashmir De-Risking Business 49 Ongoing Projects Across15 States Domestically and an International Presence in Nepal with a Total Project Value of Himachal Pradesh ₹ 1,86,630 Mn Domestic In ₹ Mn. Arunachal Pradesh Sr.No. State No. of Projects Project Value Nepal Sikkim
Slide 32: Business & Project Overview
Business & Project Overview
Slide 33: Major Project Under Execution
Major Project Under Execution Hydro Power / Tunnelling Transportation o Subansiri HEP (2,000 MW) o Selapass Road and Tunnel o IRCON T15 (Railway Tunnel) o Katraj Kondwa Road o Kiru HEP (624 MW) o Up-gradation - Pimpla o Arun-III HE Project (900 MW) junction. o CIDCO Water Tunnel Project o Constructi
Slide 34: Major Project Under Execution - Hydro Power Projects
Major Project Under Execution - Hydro Power Projects Currently in India ~ 18,000 MW of Hydropower is Under Execution out of which Company is involved in Construction of ~ 8,000 MW. Dibang Multipurpose (2,880 MW) Subansiri HEP (2,000 MW) Kiru HEP (624 MW) KWAR HEP(540 MW) Teesta VI HEP (500 MW) Shong
Slide 35: Major completed projects - Hydro Power / Tunneling
Major completed projects - Hydro Power / Tunneling Koyna HEP - Stage I,II,III,IV (1880 MW) Srisailam Right Bank Hydro Power Station (770 MW) Ghatghar Hydro Electric Project (250 MW) Kameng HEP (600 MW) Srisailam Left Bank Hydro Power Tapovan Hydro Electro Project (900 MW) (520 MW) Parbati HEP (800 M
Slide 36: Major completed projects - Irrigation
Major completed projects - Irrigation Polavaram Project (Right Main Canal), Andhra Pradesh Jawahar Lift Irrigation Project , Andhra Pradesh Bhima Lift Irrigation Project, Andhra Pradesh Kalwakurty Lift Irrigation Project, Andhra Pradesh Indira Sagar Project, Andhra Pradesh Vamsudhara Project Phase-I
Slide 37: Major completed projects - Transportation
Major completed projects - Transportation Hathipali - Hosur (NH-7), Tamil Nadu Nellore - Kaveli NH-5, Andhra Pradesh Construction of High Altitude Roads along Indo-China border in the state of Jammu & Kashmir - Karzok to Chumar - Package – I & 2 Krishnagiri - Vaniyambadi NH-46, Tamil Nadu Road from
Slide 38: Major completed projects – Urban Infrastructure
Major completed projects – Urban Infrastructure Construction of various water tunneling projects, Maharashtra Dam for Shillong Water Supply, Meghalaya Sewage Treatment Plant, Maharashtra Indoor Sports Stadium, Surat – Gujarat BYTCO Hospital Mantalia Microtunneling & Pipe Jacking for Water Supply & S
Slide 39: Few Landmark Projects That Set Us Apart
Few Landmark Projects That Set Us Apart Ghatghar Dam – Maharashtra Koyna HE Project - Maharashtra Rampur HE Project - Himachal Pradesh 84m high 10th fastest completed dam in the world & India’s first (260MW) (432 Mw) RCC Dam First Lake Tapping in Asia. Asia's largest Surge Shaft with 38m dia. Srisai
Slide 40: Our Major Achievements
Our Major Achievements Recipient of many Largest underground More than 4,000 m Commissioned World record National and power house cavern shaft boring more than 85 Dams holder for International – Srisailam HE completed fastest awards Project conventional tunneling World record holder for First Double
Slide 41: Technology Oriented
Technology Oriented Micro-tunneling • Micro-tunneling is the only non invasive solution for urban areas • We are one of the largest Micro-tunneling Contractors First Lake First RCC Dam Tapping in Asia in India Double Lake Tap • A unique technology for connecting water to powerhouse, to augment capac
Slide 42: Technology Oriented
Technology Oriented New Austrian Tunnelling Method (NATM) Application of Finite Element Method (FEM) technique Use of Non – Destructive Testing Method for assessment of geological formation and material testing Use of steel Fibre Reinforced Concrete in tunnel lining instead of RCC (Reinforced Cement
Slide 43: Technology Oriented
Technology Oriented Concrete Tower Belt System The implementation of the Tower Belt System, a conveyor belt concreting system, was a remarkable technological advancement carried out at the Kiru Hydroelectric Project. This system, powered by electricity, plays a crucial role in transporting aggregate
Slide 44: Some Major Clients
Some Major Clients Investor Presentation Q4FY24 43
Slide 45: Industry Overview
Industry Overview
Slide 46: Indian Power Industry Overview
Indian Power Industry Overview Power Generation Is A Prime Focus Total Power Generation over previous year in the country during 2009-10 to 2023-24 including Renewable Energy As India looks to meet its energy demand on its own, which is expected to reach 15,820 TWh by 2040, renewable energy is set t
Slide 47: Hydropower Overview
Hydropower Overview Hydro Power – a keen effort taken by the government to Hydropower generation is a renewable source of energy with no boost energy generation consumables involved. Hence, there is very little recurring cost and hence no high long term expenditure. • Hydropower supplies at least 50
Slide 48: Hydro Pumped Storage
Hydro Pumped Storage The government has taken various steps recently in order to ensure that Pumped Storage Projects (PSPs) get commissioned on a fast track, thereby accelerating the growth of India’s renewable energy capacity. To cite a recent example, the Central Electricity Authority (CEA) has ac
Slide 49: Jal Shakti Ministry's 2024-25 Budget Prioritizes Jal Jeevan Mission
Jal Shakti Ministry's 2024-25 Budget Prioritizes Jal Jeevan Mission • The Ministry of Jal Shakti received the largest portion of the 2024-25 interim budget, with Finance Minister Nirmala Sitharaman allocating ₹98,418 crore. Of this, the Jal Jeevan Mission (JJM) was granted 71 percent. • India plans
Slide 50: Micro Irrigation The Way Forward
Micro Irrigation The Way Forward Importance Micro Government of Micro Irrigation in Initiative Irrigation India • Micro-irrigation increases water efficiency as much as • In India, the average penetration of micro irrigation is • The government started micro irrigation in the Tenth 50%-90%. 19% (as
Slide 51: Management Overview
Management Overview
Slide 52: Professional & Experienced Board Of Directors
Professional & Experienced Board Of Directors Rupen Patel Kavita Shirvaikar K. Ramasubramanian Chairman & Managing Director Whole Time Director & CFO Independent Director Sunanda Rajendran Shambhu Singh Ashwin Parmar Independent Director Independent Director Independent Director Investor Presentatio
Slide 53: Core Management Team: Mr. Rupen Patel
Core Management Team Mr. Rupen Patel Promoter, Chairman & Managing Director A third generation entrepreneur, Mr. Rupen Patel, holds an MBA from Babson College, USA. He began his career as an Advisor to the Board of Patel Engineering Limited in 1993. Appointed as Executive Director in 1996, he was el
Slide 54: Core Management Team: Mrs. Kavita Shirvaikar
Core Management Team Mrs. Kavita Shirvaikar Whole Time Director & CFO A qualified Chartered Accountant and a Graduate of the Institute of Cost & Works Accountants of India, Ms. Kavita Shirvaikar, who specializes in accounting, tax, audit, banking, finance, and fund management, has completed difficul
Slide 55: Financial Overview
Financial Overview
Slide 56: Last 5 Years Standalone Financial Highlights
Last 5 Years Standalone Financial Highlights In ₹ Mn In ₹ Mn In % Revenue from Operations Operating EBITDA Net Profit Op.EBITDA Margin Net Profit Margin 6,201.06 44,120.39 5,404.78 15.10 38,171.26 14.16 14.05 4,575.35 30,298.46 9.82 2881.8 6.53 23,330.59 5.34 4.08 1,688.49 1558.53 17,191.25 1,246.64
Slide 57: Key Standalone Ratios
Key Standalone Ratios EV/EBITDA In Times Market Cap/Sales In Times 1.01 7.74 7.36 5.01 5.18 3.95 0.29 0.34 0.29 0.14 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Debt To Equity In Times Interest Coverage In Times 2.35 0.85 1.71 0.74 0.77 0.54 0.55 1.18 1.22 0.42 FY20 FY21 FY22 FY23 FY24 FY20 FY
Slide 58: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement In ₹ Mn Particulars FY20 FY21 FY22 FY23 FY24 Revenue from Operations 23,330.59 17,191.25 30,298.46 38,171.26 44,120.39 Other Income 3,149.45 1,433.07 1,349.29 1,442.71 1089.89 Total Income 26,480.04 18,624.32 31,647.75 39,613.97 45,210.28 Expenses Costs of Material
Slide 59: Standalone Balance Sheet
Standalone Balance Sheet In ₹ Mn Assets FY20 FY21 FY22 FY23 FY24 Non Current Assets Fixed Assets 3,118.66 3,655.61 10,753.88 11,973.83 12,297.87 Non Current Investments 6,692.17 6,539.91 2,578.15 2,256.91 2,341.55 Other Non Current Financial Assets 15,446.71 15,083.23 16,318.93 15,220.74 13,822.42 O
Slide 60: Standalone Balance Sheet
Standalone Balance Sheet In ₹ Mn Equities & Liabilities FY20 FY21 FY22 FY23 FY24 Equity 408.18 465.45 479.23 773.62 773.62 Reserves 25,292.65 24,458.04 23,046.11 27,803.88 30,685.69 Net Worth 25,700.83 24,923.49 23,525.34 28,577.50 31,459.31 Non-current Liabilities Long-term Borrowing 6,279.64 5,622
Slide 61: Last 5 Years Consolidated Financial Highlights
Last 5 Years Consolidated Financial Highlights In ₹ Mn In ₹ Mn In % Revenue from Operations Operating EBITDA Net Profit Op.EBITDA Margin Net Profit Margin 45,441.08 6,902.94 15.61 15.19 14.43 38,911.47 5,615.65 11.76 5,277.32 33,803.05 7.08 5.81 2641 3.98 26,172.14 2,346.37 1.63 1,853.33 0.17 1548.0
Slide 62: Key Consolidated Ratios
Key Consolidated Ratios In Times In Times EV/EBITDA Market Cap/Sales 8.04 7.28 0.96 5.32 5.19 3.91 0.24 0.31 0.27 0.12 FY20 FY21 FY22 FY23 FY24 FY20 FY21 FY22 FY23 FY24 Debt To Equity In Times Interest Coverage In Times 0.98 0.95 2.4 0.88 1.78 0.61 0.6 1.53 1.21 0.14 FY20 FY21 FY22 FY23 FY24 FY20 FY
Slide 63: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement In ₹ Mn Particulars FY20 FY21 FY22 FY23 FY24 Revenue from Operations 26,172.14 19,947.93 33,803.05 38,911.47 45,441.08 Other Income 1,711.64 1,091.35 1,162.06 1,149.37 889.08 Total Income 27,883.78 21,039.28 34,965.11 40,060.84 46,330.16 Expenses Costs of Materia
Slide 64: Consolidated Balance Sheet
Consolidated Balance Sheet In ₹ Mn Assets FY20 FY21 FY22 FY23 FY24 Non Current Assets Fixed Assets 17,480.77 13,611.47 14,631.43 15,255.89 15,515.26 Non Current Investments 789.75 678.90 816.08 1,354.12 1,554.72 Other Non Current Financial Assets 6,201.10 6,492.59 11,428.32 10,661.48 10,297.62 Other
Slide 65: Consolidated Balance Sheet
Consolidated Balance Sheet In ₹ Mn Equities & Liabilities FY20 FY21 FY22 FY23 FY24 Equity 408.17 465.45 479.23 773.62 773.62 Reserves 25,061.78 22,730.21 23,357.76 28,105.94 30,762.57 Net Worth 25,469.95 23,195.66 23,836.99 28,879.56 31,536.19 Minority Interest 330.98 612.90 714.11 878.20 81.10 Tota
Slide 66: Stock Data
Stock Data NSE: PATELENG BSE: 531120 | ISIN: INE244B01030 Share Holding Pattern As on 17-05-2024 As on 25-04-2024 Share Price (₹) 57.33 4.39% Market Capitalization (₹ Mn) 4,840.81 Cr No. of Shares Outstanding 84,43,76,117 Promoters Face Value (₹) 1.00 36.11% 52 week High - Low (₹) 79.00 – 24.33 Publ
Slide 67: The Way Forward
The Way Forward
Slide 68: Monetization of Non-Core Assets: Sale of Land Bank & Arbitration Awards
Monetization of Non-Core Assets: Sale of Land Bank & Arbitration Awards Details Some Of The Major Land Parcels State / City Locality Available Area Total Available Karnataka, Bangalore Electronic City ~ 15 acres Land Bank ~ Maharashtra, MMR Panvel ~ 11 acres 2,150 Acres. Telangana Outskirts of Hyder
Slide 69: Future Growth Drivers
Future Growth Drivers Increasing Order Scale Up of Cost optimizations by Infrastructure focus Inflows shall help Operations – Monetization of Reduction of Debt / Innovations & Value by Government in improving top Employees and Non-core assets EBITDA Addition in line. Equipment’s Technology used Over
Slide 70: Unlocking Growth Potential: Key Highlights
Strong experience and reputation in the infrastructure space for over 75 years. The government's focus on hydroelectric and irrigation infrastructure further paves the way for future growth in these segments. Huge number of orders are expected in FY25 post elections for which Company has raised ₹ 4,
Slide 71: Thank You
Thank You Patel Engineering Limited Contact: Rahul Agarwal Phone: +91 22 2676 7500 Website: www.pateleng.com E-mail: investors@pateleng.com Kirin Advisors Private Limited Contact: Vastupal Shah Phone: +91 22 4100 2455 Website: www.kirinadvisors.com E-mail: vastupal@kirinadvisors.com