Dilip Buildcon Ltd. · NSE:DBL
Dilip Buildcon — Q3 FY22 Earnings Presentation
41 slides from Dilip Buildcon's earnings presentation, Feb 12, 2022
Slide 1: Exchange filing letter – Investor Presentation
DILIP BUILDCON LIMITED IN FRASTRUCTU RE & BEYOND Date: February 12,2022 To To BSE Limited National Stock Exchange oflndia Ltd. Listing Department Exchange Plaz& C-1. Block G P.J Torver. Dalal Street BandraKurla Complex, Mumbai 400001 Bandra (E), Mumbai - 400051 Stock Symbol -540047 Stock Svmtx)l -DB
Slide 2: Dilip Buildcon Limited – Earnings Presentation Q3 FY22
Dilip Buildcon Limited Earnings Presentation | Q3 FY22
Slide 3: Content
Content 03 Business Highlights 12 Standalone Financial Highlights 21 Consolidated Financial Highlights 23 Divestment 26 Key Projects Update 32 Company Overview
Slide 4: Business Highlights
BUSINESS HIGHLIGHTS
Slide 5: Highlights
HIGHLIGHTS Fresh divestment of • Term-sheet executed with Shrem InvIT to divest 10 HAM projects. projects • Expected valuation- ₹ 23,490 mn (Equity investment - ₹ 15,010 mn) at ~1.56X • Received ₹ 2,916 mn (out of ₹ 4,296 mn) from Cube against transfer of 49% Equity plus 100% unsecured loan in 3 HAM
Slide 6: Projects Completed During FY22
PROJECTS COMPLETED DURING FY22 (₹ mn) EPC Cost Scheduled Date of Actual Early Name of the Type of Length Project Name State excluding Completion Including Completion Completion Employer Work (Kms) GST Covid EOT Date Days NHAI Sangli-Solapur (Package II: Borgaon Watambare) Maharashtra HAM 6,741 52.00
Slide 7: Projects Won During FY22
PROJECTS WON DURING FY22 (₹ mn) Contract Value Period in which Project Name Type State Name of Employer LOA Date including GST order Won Amadand OCP (OB Removal Project) Mining Madhya Pradesh SECL 26,830 31.12.2021 Q3 Tunnels T14, T15 and T16 in Bilaspur Tunnel Himachal Pradesh RVNL 6,370 08.02.2022
Slide 8: Business Division – Total Order Book
BUSINESS DIVISION Total Order Book – ₹ 2,41,025 mn SPECIAL BRIDGES IRRIGATION ₹ 13,929 mn - 5.78% ₹ 44,666 mn - 18.53% ROADS & HIGHWAYS METRO ₹ 94,774 mn - 39.32% ₹ 2,628 mn - 1.09% TUNNEL ₹ 24,428 mn - 10.13% MINING AIRPORT ₹ 58,503 mn - 24.27% ₹ 2,097 mn - 0.87% Earnings Presentation | Q3 FY22 7 P
Slide 9: Increasing Diversification
INCREASING DIVERSIFICATION Mining, Mining, Special Bridge, Mining, Roads, Irrigation, 18.56% 14.7% Roads, 3.69% 14.4% 51.75% 7.07% Irrigation, Mining, 39.32% Irrigation, 17.02% 24.27% 2.53% Metro, Metro, 2.02% 2.01% Irrigation, 18.53% Metro, 1.18% Metro, Special 1.09% Bridge, Special Special 3.95% B
Slide 10: Total Order Book
TOTAL ORDER BOOK (₹ mn) 2,74,114 2,54,949 2,38,881 2,41,025 2,31,038 2,11,718 1,90,816 1,75,683 1,07,787 74,747 FY15 FY16 FY17 FY18 FY19 FY20 FY21 Q1FY22 Q2FY22 Q3FY22 Earnings Presentation | Q3 FY22 9 Previous Next
Slide 11: Order Book – Client Wise
ORDER BOOK – CLIENT WISE 71% of the order book from the 29% of the order book from the Central Government state government 40.80% 26.33% 21.85% 6.61% 2.43% 1.11% 0.87% NHAI MORTH COAL INDIA AAI RVNL STATE PSPCL Earnings Presentation | Q3 FY22 10 Previous Next
Slide 12: Order Book Geography and Contract Type Wise
Order Book Geography Wise Order Book Contract Type Wise HAM, 32% Karnataka, Bihar, 4% Himachal Odisha, 9% 13% Pradesh, 2% Chhattisgarh, Uttarakhand, 4% 1% Uttar Pradesh, Gujarat, 17% 6% Rajasthan, 5% Madhya Pradesh, 15% Tamilnadu & Puducherry, 6% Andhra Pradesh, Maharashtra, 1% 3% Jharkhand, 11% Goa
Slide 13: Standalone Financial Highlights
STANDALONE FINANCIAL HIGHLIGHTS
Slide 14: Results Summary – Q3FY22 (Standalone)
RESULTS SUMMARY – Q3FY22 (STANDALONE) Revenue from Operations (₹ mn) EBITDA excl. other income (₹ mn) Profit after Tax (₹ mn) 24,667 8,00 0 1,111 21,976 4,069 (967) 4,00 0 63 - Q3FY21 Q3FY22 Q3FY21 Q3FY22 Q3FY21 Q3FY22 Contract Revenue Breakup Roads, Special Metros, Airports & Irrigation Mining Brid
Slide 15: Results Summary – 9MFY22 (Standalone)
RESULTS SUMMARY – 9MFY22 (STANDALONE) Revenue from Operations (₹ mn) EBITDA excl. other income (₹ mn) Profit after Tax (₹ mn) 1,920 12,0 00 62,839 65,000 10,131 8,00 0 5,168 4,00 0 - (890) 9MFY21 9MFY22 9MFY21 9MFY22 9MFY21 9MFY22 Contract Revenue Breakup Roads, Special Metros, Airports & Irrigation
Slide 16: Result Update – Standalone
RESULT UPDATE – STANDALONE (₹ mn) Particulars Q3FY22 Q2FY22 Q3FY21 9MFY22 9MFY21 Revenue 21,976 21,561 24,667 65,000 62,839 Operating expenses 21,913 19,284 20,598 59,832 52,709 EBITDA excl. other income 63 2,277 4,069 5,168 10,131 EBITDA Margin (%) 0.29% 10.56% 16.50% 7.95% 16.12% Other income 98 5
Slide 17: Standalone Profit & Loss
STANDALONE PROFIT & LOSS (₹ mn) Particulars Q3FY22 Q3FY21 9MFY22 9MFY21 Revenue from Operations 21,976 24,727 65,000 62,839 Other income 98 59 274 238 Total Income 22,074 24,727 65,274 63,078 Expenses Cost of materials consumed 20,439 19,553 56,334 49,397 Changes in inventories of finished goods, St
Slide 18: Standalone Balance Sheet
STANDALONE BALANCE SHEET (₹ mn) Particulars Dec’21 Sep’21 Dec’20 Particulars Dec’21 Sep’21 Dec’20 ASSETS EQUITY AND LIABILITIES Non-current assets Equity (a) Equity share capital 1,462 1,462 1,368 (a) Property, plant and equipment 17,295 18,035 18,790 (b) Other equity 41,748 42,844 36,475 (b) Capita
Slide 19: Standalone Cash Flow
STANDALONE CASH FLOW (₹ mn) Particulars H1FY22 Q3FY22 9MFY22 Particulars H1FY22 Q3FY22 9MFY22 CASH FLOW FROM OPERATING ACTIVITIES CASH FLOW FROM INVESTMENT ACTIVITIES Net profit before tax as per Statement of Profit and Loss 217 (1,748) (1,531) Purchase of Fixed Assets (1,066) (264) (1,330) Adjustme
Slide 20: Net Working Capital Days – Quarterly
NET WORKING CAPITAL DAYS – QUARTERLY 140 96 102 100 104 82 120 114 101 107 90 103 93 100 87 100 89 96 85 83 80 86 80 82 80 75 71 69 69 69 71 60 65 66 66 62 61 63 63 59 60 57 60 59 58 55 56 55 53 51 48 49 50 49 49 40 44 20 102 95 86 91 89 100 105 104 104 106 111 113 121 120 126 127 130 0 Dec'17 Mar'1
Slide 21: Net Debt to Equity Ratio – Quarterly
NET DEBT TO EQUITY RATIO – QUARTERLY (WORKING CAPITAL & EQUIPMENT DEBT) 0.70 Net Debt/Equity Equipment Debt/Equity Working Capital Debt/Equity 0.58 0.55 0.51 0.57 0.58 0.60 0.48 0.46 0.45 0.54 0.47 0.53 0.46 0.51 0.53 0.44 0.39 0.35 0.36 0.32 0.30 0.25 0.23 0.22 1.16 0.20 1.06 1.01 0.95 0.92 0.90 0.
Slide 22: Consolidated Financial Highlights
CONSOLIDATED FINANCIAL HIGHLIGHTS
Slide 23: Consolidated Profit & Loss
CONSOLIDATED PROFIT & LOSS (₹ mn) Particulars (₹ mn) Q3FY22 Q2FY22 Q3FY21 9MFY22 9MFY21 Revenue from Operations 22,455 22,190 27,462 69,027 70,328 Other income 134 47 127 332 342 Total Income 22,589 22,236 27,589 69,359 70,670 Expenses Cost of materials consumed 20,472 20,565 20,016 59,709 51,357 Ch
Slide 24: Divestment
DIVESTMENT
Slide 25: Divestment of Road Assets
DIVESTMENT OF ROAD ASSETS The Company has 13 HAM Assets which are either committed or at an advance stage of Monetisation Cube Deal Flipping to Shrem Expected Divestment Consideration InvIT Expected Divestment from 3 HAM Projects Consideration ~ Rs. 4,296 Mn from 10 HAM Projects at ~ Rs. 23,490 Mn (
Slide 26: Equity Tracker for HAM & Coal Projects
EQUITY TRACKER FOR HAM & COAL PROJECTS (₹ mn) Actual Invested Q4 21-22 FY 22-23 FY 23-24 Particulars Requirement Till Dec-21 Projected Projected Projected Investment in 23 HAM Projects 29,366 18,853 4,533 2,718 3,262 Investment for Siarmal Coal Project # 4,983* - 71 1,771 697 Investment for Pachhwar
Slide 27: Key Projects Update
KEY PROJECTS UPDATE
Slide 28: Hybrid Road Projects – Progress
HYBRID ROAD PROJECTS – PROGRESS Sr. No Project Name Payment Milestone (Grant) Achieved Appointed Date % of work done as on 31.01.2022 1 DBL Byrapura Challakere Highways Pvt Ltd PCDO achieved on 15.12.2020 31.12.2018 100.00 2 DBL Borgaon Watambare Highways Pvt. Ltd. PCOD achieved on 24.09.2021 22.04.
Slide 29: Hybrid Road Projects – Progress
HYBRID ROAD PROJECTS – PROGRESS Sr. No Project Name Payment Milestone (Grant) Achieved Appointed Date % of work done as on 31.01.2022 13 Pathrapali Kathghora Highways Private Limited 2nd PM, 30% Physical Progress 04.12.2020 40.25 14 Dodaballapur- Hoskote Highways Private Limited 2nd PM, 30% Physical
Slide 30: Key Outstanding Road EPC Projects
KEY OUTSTANDING ROAD EPC PROJECTS (₹ mn) Project name Type Contract Outstanding Order Length LOA Date Date of Start Schedule Date of Value Book as on 31.12.2021 (Kms) Completion with EOT Nagpur Mumbai Super Communication Expressway (Package 12) Road 16,980 2,399 45.65 Aug-18 Jan-19 Apr-22 Varanasi t
Slide 31: Airport, Mining and Irrigation Projects
AIRPORT, MINING AND IRRIGATION PROJECTS Airport (₹ mn) Project name Contract Outstanding Order Book Schedule date of Type as on 31.12.2021 LOA Date Date of Start Completion Value Construction of New Greenfield Airport at Hirasar, Rajkot Airport 5,701 2,097 Feb-20 Feb-20 Aug-22 Mining Project name Co
Slide 32: Special Bridges, Metro and Tunnel Projects
SPECIAL BRIDGES, METRO AND TUNNEL PROJECTS Special Bridge (₹ mn) Contract Outstanding Order Book as Schedule date of Project name Type LOA Date Date of Start Value on 31.12.2021 Completion Zuari Bridge -(Package II ) Special Bridge 5,454 506 Feb-16 April-16 Sep-22 Zuari Bridge -(Package I ) Special
Slide 33: Company Overview
COMPANY OVERVIEW
Slide 34: Overview
OVERVIEW ₹ Pan India presence Largest owner of No subcontracting, Best project executors 19 states & construction vertically integrated ~90% projects 1 Union Territory equipments 11,228 and use of technology before time Diversified areas of expertise Largest employer in Early completion bonus Roads,
Slide 35: 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 The young firm witnesses a in multiple more than 120%, since the the first time and
Slide 36: Pan India Project Execution Capability
PAN INDIA PROJECT EXECUTION CAPABILITY (₹ mn) State Completed Ongoing Gross Ongoing Net Andhra Pradesh 42,795 7,555 7,555 Bihar - 12,699 9,035 Chhattisgarh 7,038 8,127 2,857 Himachal Pradesh Goa 1,250 14,031 860 Punjab Uttarakhand Gujarat 9,589 48,894 40,212 Haryana Haryana 4,637 - - Himachal Prades
Slide 37: Backward Integration
BACKWARD INTEGRATION To further support our in-house execution, we have setup our own manufacturing units, which make the highest quality road furniture/ material needed for our business. It helps us control costs and timelines. Octagonal Pipe Metal Beam Road Marking Bus Sign Scaffolding Poles Rolli
Slide 38: Leadership Team
LEADERSHIP TEAM Mr. Dilip Suryavanshi Mr. Devendra Jain Chairman and MD Executive Director & CEO Dilip Suryavanshi is the Chairman and Managing Director of our Company. He holds a bachelors degree in Devendra Jain is an Executive Director and Chief Executive Officer of our Company. He holds a bachel
Slide 39: Awards, Accreditation & Accolades
AWARDS, ACCREDITATION & ACCOLADES Best Place to Work in India by National Highway Excellence Dun & Bradstreet Construction World Global National Highway CNBC Awaaz CEO awards 2019 Ambition Box Award 2020 for Excellence in Construction-Infrastructure Award 2019 3rd Fastest Excellence Award 2019 for "
Slide 40: 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 41: Thank You
Dilip Buildcon Limited Plot No. 5, Inside Govind Narayan Singh Gate, Chuna Bhatti, Kolar Road, Bhopal, Madhya Pradesh - 462 016 0755 - 4029999 / 0755 - 4029998 db@dilipbuildcon.co.in L45201MP2006PLC018689 S-Ancial Technologies Pvt. Ltd. (Investor Relations) 215, Shivshakti Industrial Estate, J. R. B