Pnc Infratech Ltd · NSE:PNCINFRA
Pnc Infratech — Q4 FY24 Earnings Presentation
34 slides from Pnc Infratech's earnings presentation, 2024
Slide 1: PNC Infratech Limited Investor Presentation Q4FY24 and FY24
PNC INFRATECH LIMITED Investor Presentation Q4FY24 and FY24 MASTERING EXPERTISE EXPANDING HORIZONS
Slide 2: Safe Harbor
Safe Harbor 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 securit
Slide 3: Key Highlights & Financials
Key Highlights & Financials PNC Infratech Limited
Slide 4: Key Highlights for Q4FY24
Key Highlights for Q4FY24 Revenue Revenue of Rs. 2,342 crore as compared to Rs. 2,115 crore 11% in Q4 FY23 EBITDA • EBITDA of Rs. 565 crore in Q4FY24 as compared to 101% Rs. 281 crore in Q4FY23 • EBITDA Margin of 24.1% in Q4FY24 • PAT of Rs. 402 crore in Q4 FY24 as compared to PAT 118% Rs. 184 crore
Slide 5: Key Highlights for FY24
Key Highlights for FY24 9% 34% 308 bps 39% YoY YoY YoY YoY growth growth growth growth Revenue EBITDA EBITDA % PAT Revenue of EBITDA of EBITDA margin of PAT of Rs. 850 crore Rs. 7,699 crore in Rs. 1,277 crore in 16.6% in FY24 in FY24 compared to FY24 as compared FY24 compared to compared to 13.5% Rs
Slide 6: Key Highlights for FY24
Key Highlights for FY24 Revenue (Rs. crore) EBITDA (Rs. crore) PAT (Rs. crore) +34% +39% +9% 1,277 850 7,699 7,061 954 611 FY23 FY24 FY23 FY24 FY23 FY24 Notes:1) Includes Bonus of Rs. 37 crs received in FY23 and Includes Rs. 251 crs of Toll Revenue from Eastern Peripheral Expressway project in FY23
Slide 7: Order Book Details
Order Book Details PNC Infratech Limited
Slide 8: Robust Order Book over Rs. 15,400 crores
Robust Order Book over Rs. 15,400 crores ◼ Remaining value of contracts under execution of over Rs. 15,400 crore as on 31st March Remaining 2024 Awarding Key EPC Projects Under Construction Value ◼ The below orders are included in order book as on 31st March 2024: Authority (Rs. Crores) ✓ Financial
Slide 9: Portfolio of Development Projects on PPP Mode
Portfolio of Development Projects on PPP Mode PNC Infratech Limited
Slide 10: Asset Monetization
Asset Monetization ◼ Divestment of Equity Stake in 12 of Company’s Road Assets ✓ The Company, along with its wholly owned subsidiary, PNC lnfra Holdings Limited have signed a Master Securities Purchase Agreement (SPA) with Highways Infrastructure Trust (HIT), an Infrastructure Investment Trust (InvI
Slide 11: Sizeable Project Portfolio: Operational Projects
Sizeable Project Portfolio: Operational Projects PNC Share of Invested Debt as on 31st % JV Kms / TPC Invested Grant Total Debt Project Authority State / Stretch Type Equity March‘24 Stake Partners Lanes (Rs. Crs) Amount (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Kanpur Kabrai 100% NHAI UP /
Slide 12: Sizeable Project Portfolio: HAM Projects
Sizeable Project Portfolio: HAM Projects PNC Share of Debt / Bond as on % TPC Invested Equity Total Debt Project Authority State / Stretch Kms / Lanes Status Invested Amount 31st March’ 24 Stake (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Dausa-Lalsot * 100% NHAI Raj/ NH11A 83.45/ 4/2 COD 820
Slide 13: Annexure – I Summary Financials
Annexure – I Summary Financials PNC Infratech Limited
Slide 14: Standalone Profitability Statement – Q4 & FY24
Standalone Profitability Statement – Q4 & FY24 Rs. Crores Q4 FY24 Q4 FY23 YoY Growth (%) FY24 FY23 YoY Growth (%) REVENUE 2,342 2,115 11% 7,699 7,061 9% EBITDA 565 281 101% 1,277 954 34% EBITDA margin 24.1% 13.3% 1,085 bps 16.6% 13.5% 308 bps Other Income 10 11 28 38 Depreciation 27 28 103 110 Finan
Slide 15: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crores) Mar-24 Mar-23 EQUITY AND LIABILITIES (Rs. Crores) Mar-24 Mar-23 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 463 522 (a) Equity Share capital 51 51 (b) Right to Use Assets 8 9 (b) Other equity 4,730 3,890 (c) Capital work-in-progress 0 0
Slide 16: Net Working Capital Days - Standalone
Net Working Capital Days - Standalone 106 102 97 99 93 73 74 77 60 62 57 51 Mar/19 Mar/20 Mar/21 Mar/22 Mar/23 Mar/24 Debtors Net Working Capital PNC Infratech Limited 16
Slide 17: Consolidated Profitability Statement – Q4 & FY24
Consolidated Profitability Statement – Q4 & FY24 Rs. Crores Q4 FY24 Q4 FY23 YoY Growth (%) FY24 FY23 YoY Growth (%) REVENUE 2,600 2,305 13% 8,650 7,956 9% EBITDA 736 411 79% 2,005 1,600 25% EBITDA margin 28.3% 17.8% 1,050 bps 23.2% 20.1% 306 bps Other Income 24 24 82 81 Depreciation 44 57 177 253 In
Slide 18: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Crores) Mar-24 Mar-23 EQUITY AND LIABILITIES (Rs. Crores) Mar-24 Mar-23 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 468 525 (a) Equity Share capital 51 51 (b) Right to Use Assets 8 9 (b) Other equity 5,134 4,234 (c) Capital work-in-progress 0
Slide 19: Cashflow Statement
Cashflow Statement Standalone Consolidated Rs. Crores Full Year ended 31-Mar-24 Full Year ended 31-Mar-23 Full Year ended 31-Mar-24 Full Year ended 31-Mar-23 Profit before tax 1,136 818 1,249 957 Adjustments 159 180 751 659 Operating Cash flow Before Working Capital Changes 1,295 998 1,999 1,617 Cha
Slide 20: Segmental Revenue Break-up
Segmental Revenue Break-up Q4 FY23 417 Q4 FY24 555 18% 205 21% 250 9% 10% 1,683 1,795 73% 69% Roads Water Toll/Annuity Roads Water Toll/Annuity FY23 925 FY24 1,906 12% 1,206 22% 938 15% 11% 5,825 73% 5,806 67% Roads Water Toll/Annuity Roads Water Toll/Annuity Notes:1) Includes Bonus of Rs. 37 crs re
Slide 21: Annexure – II Company Overview
Annexure – II Company Overview PNC Infratech Limited
Slide 22: Introduction
Introduction Established track record of timely/early completion of projects • Infrastructure construction, development, and management company; expertise in the execution of projects including highways, bridges, flyovers, airport runways, industrial areas, railways and transmission lines • Executed
Slide 23: Business Overview
Business Overview Dedicated Freight Corridor / Roads & Highways EPC Airport Runways Power Transmission Railways Design, procurement & construction of Executed 21 airport runway projects track and track related works on Set up power transmission lines of Completed 64 infrastructure road across India
Slide 24: Corporate Structure
Corporate Structure PNC Infra Holdings Limited (“PNCIHL”) BOT Holdco for road and other infra projects PNC Gomti Highways Private Limited (“PNCGHPL”) * 4 Laning of Jagdishpur Faizabad Section of NH 330 A on HAM PNC Bareilly Nainital Highways Private Limited (“PNCBNHPL”) * 4 laning of the Bareilly-
Slide 25: Integrated Business Model
Integrated Business Model Equipment Bank Own Quarries / In-house Construction In-house Design & Raw Material Sourcing Engineering ▪ Ownership of a fleet of modern equipment enables ▪ Own / Leasing of Quarries ▪ Ensuring timely completion ▪ Controls the entire process quick mobilization besides helps
Slide 26: Enhanced Execution Capability
Enhanced Execution Capability Strong Credit Rating Working Capital Limits Man and Machine added to execute more projects ▪ Long term bank facilities “CARE ▪ Fund Based Limits of Rs. 1,000 ▪ Strengthening of In-house execution AA+ (Double A plus)” crores which will enable us to team with induction of
Slide 27: Enhanced to Augment and upgrade the execution
Enhanced to Augment and upgrade the execution Rs. Crores 1,317 1,341 1,267 1,273 1,094 1,016 FY19 FY20 FY21 FY22 FY23 FY24 Present Capex will enable us to achieve a Turnover of Rs. 10,000-12,000 crores PNC Infratech Limited 27
Slide 28: Strengthening of in-house execution team
Strengthening of in-house execution team No. of Employees 10,187 9,599 9,387 8,879 8,371 8,334 FY19 FY20 FY21 FY22 FY23 FY24 Strengthening of In-house execution team with induction of engineers with strong technical knowledge PNC Infratech Limited 28
Slide 29: Strong Credit Rating
Strong Credit Rating Upgraded Assigned Reaffirmed ◼ PNC Gomti Highways Pvt. Ltd. * ◼ Yamuna Highways Pvt. Ltd. ◼ PNC Infratech Ltd. ✓ Long term bank facilities at CARE AA+; Stable (Double A plus; Outlook: Stable) ✓ Long term bank facilities at ✓ CARE A; Stable (Single A; Outlook: ✓ Reaffirmed Short
Slide 30: Experienced Promoters
Experienced Promoters Mr. Pradeep Kumar Jain Mr. Naveen Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh Kumar Jain Chairman & Managing Promoter Managing Director Managing Director Director ◼ Over 41 years of experience ◼ Over 32 years of experience ◼ Over 31 years of experience ◼ Over 26 years of expe
Slide 31: Board of Directors
Board of Directors Mr. Pradeep Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh Kumar Jain Chairman & Managing Director Managing Director Managing Director Mr. Anil Kumar Rao Mr. Talluri Raghupati Rao Whole-time Director Wholetime Director Mr. Krishan Kumar Jalan (IAS) Mr. Gauri Shankar Mr. Subhash Cha
Slide 32: Clientele
Clientele PNC Infratech Limited 32
Slide 33: Growth Strategy
Growth Strategy ◼ Leveraging Strong Project Execution track record to diversify into new functional areas of infrastructure development DIVERSIFICATION ◼ Expand presence in development of industrial areas and dedicated freight corridor projects ◼ Diversify into waste management, water-related infras
Slide 34: 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 COO – IR Practice +91-9920602034 dkm@pncinfrate