Slide 1: Submission of Investor/Analysts Presentation cover letter
CIN: L99999MH1949PLC007039 May 15, 2023 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/EQ Dear Sir/Mam, Subject: Submission
Slide 2: Patel Engineering Limited Investor Presentation Q4 FY23
Patel Engineering Limited Investor Presentation | Q4 FY23
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
Company Overview
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: Key Facts and Figures
Key Facts and Figures 7+ decades 15 States 12,000+ Experience Current Domestic Presence MW Hydro Project 85+ 300+ Kms 5.5+ Lakhs Dams of Tunnels Acres Irrigated 1,200+ Kms ₹ 2,08,067Mn BBB With Positive Outlook Investor Presentation Q4 FY23 Road Order book ( Including L1 Orders) Credit rating FY23 C
Slide 7: Vision and Mission
Patel Engineering Limited, is one of the MISSION major Infrastructure To be the pioneers in the industry and a and Construction market-driven organization known for its commitment towards excellence, Company quality, performance and reliability. Investor Presentation Q4 FY23 VISION Vision and Missio
Slide 8: Our Major Achievements
Recipient of many national and international awards First Double lake tapping in Asia – Koyna Project More than 4,000 m Largest surge shaft Largest underground shaft boring in Asia – 38 m dia – power house cavern – completed Rampur Project Srisailam HE Project More than 300 Commissioned more Our Maj
Slide 9: Strong Client Base – Some Major Clients
Strong Client Base – Some Major Clients Investor Presentation Q4 FY23 8
Slide 10: Major completed projects - Hydro Power / Tunneling
Major completed projects - Hydro Power / Tunneling Tuirial Hydro Electro Project Mizoram Parbati Hydro Electro Project (800 MW) USBRL - T2 (60 MW) Investor Presentation Q4 FY23 o Srisailam Left Bank Hydro Power Station (900 MW) o Kameng HEP (600 MW) o Teesta Hydro Electro Project Stage V (510 MW) o
Slide 11: Major completed projects - Irrigation
Major completed projects - Irrigation Kalwakurty Lift Irrigation Project, Andhra Pradesh PLGC Canal, Uttar Pradesh Investor Presentation Q4 FY23 o Polavaram Project (Right Main Canal), Andhra Pradesh o Indira Sagar Project, Andhra Pradesh o Jawahar Lift Irrigation Project , Andhra Pradesh o Vamsudha
Slide 12: Major completed projects - Transportation
Major completed projects - Transportation Krishnagiri - Vaniyambadi NH-46, Tamil Nadu 4 laning NH-7 from Madurai to Kanyakumari, Tamilnadu Investor Presentation Q4 FY23 o Hathipali - Hosur (NH-7), Tamil Nadu o Road from Ramwadi to New PMC Limit under JNNURM Project o Nellore - Kaveli NH-5, Andhra Pr
Slide 13: Major completed projects - Urban Infrastructure
Major completed projects - Urban Infrastructure BYTCO Hospital Mantalia Parliament Building Bhutan Investor Presentation Q4 FY23 o Construction of various water tunneling projects, Maharashtra o Microtunneling & Pipe Jacking for Water Supply & Sewerage, Maharashtra o Dam for Shillong Water Supply, M
Slide 14: Few Landmark Projects That Set Us Apart
Few Landmark Projects That Set Us Apart Ghatghar Dam – Maharashtra 84m high Koyna HE Project - Maharashtra (260MW) 10th fastest completed dam in the world an India’s first RCC Dam First Lake Tapping in Asia. Investor Presentation Q4 FY23 Srisailam HE Project - Andhra Pradesh (900MW) Sawrakuddu HE Pr
Slide 15: Technology Oriented: Micro-tunneling, RCC, Lake Tapping
Micro-tunneling First RCC o Micro-tunneling is the only non invasive Dam in India solution for urban areas First Lake o We are one of the largest Micro-tunneling Contractors Tapping in Asia Asia's largest Double Lake Tap Surge Shaft with a dia of 38 m o A unique technology for connecting water to po
Slide 16: Technology Oriented
New Austrian Tunnelling Method (NATM) Application of Finite Element Method (FEM) Use of Non – technique Destructive Testing Method for assessment of Technology Oriented geological Earth Pressure formation and Balancing material testing Tunnel Boring Machine (TBM) Use of steel Fibre for tunnelling Re
Slide 17: Major Project Under Execution
Hydro Power / Tunnelling Irrigation Transportation Urban Infrastructure o Subansiri HEP (2,000 MW) o Sleemanabad Carrier Canal o Shivane to Mhatre bridge o Amarmahal to Trombay Tunnel o IRCON T15 (Railway Tunnel) o Morand & Ganjal Dam o Selapass Road and Tunnel o Hindoli - Nainwa Water Supply Projec
Slide 18: Management Overview
Management Overview
Slide 19: Professional & Experienced Board Of Directors
Professional & Experienced Board Of K. Ramasubramanian Directors Rupen Patel Kavita Shirvaikar Sunil D. Sapre Chairman & Managing Whole Time Director & CFO Whole Time Director Independent Director Director Investor Presentation Q4 FY23 Sunanda Rajendran Dr. Barendra Kumar Bhoi Shambhu Singh Ashwin P
Slide 20: Core Management Team
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 21: Core Management Team
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 22: FY23 Operational Highlights
FY23 Operational Highlights
Slide 23: USBRL T-2 Project Completed in FY23
Brief About On Project The Tunnel T-2 is an important infrastructure project in India's Udhampur-Srinagar-Baramula Rail Link. It is a double tube tunnel comprising a Main Tunnel of 5.1 km and an Escape Tunnel, both interconnected by Cross Passages at every 375m. Escape The project is crucial in conn
Slide 24: Patel Engineering's FY23 Project Milestones – Subansiri Lower
Breaking Ground: Patel Engineering’s FY23 Project Milestones Subansiri Lower Hydroelectric Project Patel Engineering Major Achievements During the year at Subansiri Lower H.E. Project. Subansiri Lower HE Project is the biggest hydroelectric project undertaken in India so far and is a run of river sc
Slide 25: FY23 Project Milestones – Arun-III and Kundah
Breaking Ground: Patel Engineering’s FY23 Project Milestones The Arun-III hydroelectric power plant is a 900MW run-of-the-river hydropower project under construction in Nepal which is being developed by SJVN Arun-III Power Development Company (SAPDC), a wholly-owned subsidiary of India’s Satluj Jal
Slide 26: AMT-II, T-15, Luhri and RVNL KTR projects
AMT – II project T-15 Project Patel Engineering achieved a Patel Engineering achieved a breakthrough at AMT-II project located breakthrough in FY23 at T-15 project in Mumbai for construction of Water site on the Udhampur-Srinagar- Tunnel between Amar Mahal to Baramulla New BG Railway line. Trombay.
Slide 27: India's Infrastructure Marvels Built By Patel Engineering
India's Infrastructure Marvels Built By Patel Engineering Recognized by National Geographic for Engineering Ingenuity Subansiri Lower Hydroelectric The Kundah Pumped Storage T 15 Tunnel Project T 15 Tunnel Project Project Hydroelectric Project Marvel on The Subansiri A Giant in the Nilgiris Building
Slide 28: Awards and Recognition
ET Ascent – 21st Global Edition & 6th India Construction Times Edition – 2023 Awards 2023 For Best Tunnel Project Of The Year - Sela Pass Road Best Infrastructure Company of the Year – Tunnel Project Railway Development (T-2 project located in Jammu & Kashmir) Mr. Rupen Patel has been awarded with B
Slide 29: Order Book Highlights
Since 1949 = rS A, Ordér Book Highlights
Slide 30: Yearly Growth In Order Book
Yearly Growth In Order Book Yearly Order Book 2,08,067 * 1,44,660 1,50,110 1,31,840 1,02,150 Investor Presentation Q4 FY23 FY19 FY20 FY21 FY22 FY23 *FY23 Includes 6 Projects which are L1 Orders amounting to ₹ 32,217 Mn. Out of which 4 Projects worth ₹ 8,473 Mn has been converted to LOAs in Q1 FY24.
Slide 31: New Projects Received in Q4 FY23
Project Name : Project Name: Rihand Micro Irrigation Tumkur Branch Canal – Package III. Project Location: Project Location: Department of Water Resources, Madhya Pradesh. Karnataka Client : Client: Department of Water Resources, Madhya Pradesh. Visvesvaraya Jala Nigama Limited. Contract Value: Contr
Slide 32: New Projects Received in Q4 FY23
Project Name: Project Name: Krishna Marathwada Irrigation Project - Scheme 1. Krishna Marathwada Irrigation Project - Scheme 2. Project Location: Maharashtra. Project Location: Maharashtra. Client: Water Resources Department, Government of Client: Maharashtra. Water Resources Department, Government
Slide 33: Orders Received In 9M FY23
Project Name: Project Name: Kwar Hydroelectric Project PVPG Tunnel Project. Project Location: Project Location: District Kishtwar, Jammu & Mumbai, Maharashtra. Kashmir. Client: Client: MCGM. CVPP [Chenab Valley Power Projects (P) Ltd], a Joint Venture of NHPC Contract Value: (51% ) & JKSPDC (49%) 4,
Slide 34: Diversly Spread Works De-Risking Business
Diversly Spread Works De Risking Business Jammu and Kashmir No. of Sr.No. State Project Value Projects Himachal Pradesh 1 Jammu and Kashmir 7 62,354 2 Himachal Pradesh 3 21,691 3 Madhya Pradesh 8 31,779 Arunachal Sikkim Pradesh 4 Maharashtra 10 18,766 Nepal 5 Sikkim 1 12,120 Assam Assam and Arunacha
Slide 35: Order Book Break Up
Order Book Break Up In % Segment Wise Order Book Client Wise Order Book Project Completion Wise Order Book 1.89% Hydroelectric 1.08% 4.18% 4.22% 2.63% Bellow 10% 6.85% Central 12.54% Irrigation Government / 10% - 30% PSU’s 17.70% 30% - 50% 45.35% Tunnel 41.49% State Government 50% - 70% 54.92% 21.26
Slide 36: Industry Overview
Industry Overview
Slide 37: Hydropower Overview
Hydro Power – a keen effort taken by the government to boost energy generation — Hydropower supplies at least 50% of electricity production in 66 countries and at least 90% in 24 countries. — India has overtaken Japan, becoming the nation with the fifth-largest hydropower production capacity in the
Slide 38: Power Industry Overview
Power Industry Overview The Ministry of Power has made significant efforts over the past few years to turn the country from one with a power shortage to one with a surplus by establishing a single national grid, FDI in India’s renewable fortifying the distribution network, and achieving Investment B
Slide 39: Micro Irrigation The Way Forward
Micro Irrigation The Way Forward Importance of Micro Irrigation Micro Irrigation in India Government Initiative o Micro-irrigation increases water efficiency as o In India, the average penetration of micro o The government started micro irrigation in the much as 50%-90%. irrigation is 19% (as of Feb
Slide 40: Q4 FY23 Financial Highlights
Q4 FY23 Financial Highlights
Slide 41: Q4 & FY23 Standalone Results Highlights
Q4 & FY23 Standalone Results Highlights Revenue from Operations In ₹ Mn Operating EBITDA In ₹ Mn Net Profit In ₹ Mn 9M Q4 Total 9M Q4 Total 9M Q4 Total 5,404.78 38,171.26 4,575.35 1,558.53 30,298.46 1760.03 11,921.83 1551.80 840.83 10,428.40 563.91 26,249.43 3,644.75 19,870.06 3,023.55 368.64 717.70
Slide 42: Q4 FY23 Standalone Results Highlights
Q4 FY23 Standalone Results Highlights In ₹ Mn Particular Q4 FY23 Q4 FY22 Y-O-Y % FY23 FY22 Y-O-Y % Revenue from Operations 11,921.83 10,428.40 14.32% 38,171.26 30,298.46 25.98% Expenses 10,161.80 8,876.60 32,766.48 25,723.11 Operating EBITDA 1,760.03 1,551.80 5,404.78 4,575.35 Operating EBITDA Margi
Slide 43: Q4 & FY23 Consolidated Results Highlights
Q4 & FY23 Consolidated Results Highlights Revenue from Operations In ₹ Mn Operating EBITDA In ₹ Mn Net Profit In ₹ Mn 9M Q4 Total 9M Q4 Total 9M Q4 Total 42,019.71 6,248.76 1,548.06 33,803.05 12,980.34 5,277.32 1,805.65 11,116.60 1,548.10 843.64 Investor Presentation Q4 FY23 550.06 29,039.37 4,443.1
Slide 44: Q4 FY23 Consolidated Results Highlights
Q4 FY23 Consolidated Results Highlights In ₹ Mn Particular Q4 FY23 Q4 FY22 Y-O-Y % FY23 FY22 Y-O-Y % Revenue from Operations 12,980.34 11,116.60 16.77% 42,019.71 33,803.05 24.31% Expenses 11,174.69 9,568.50 35,770.95 28,525.73 Operating EBITDA 1,805.65 1,548.10 16.64% 6,248.76 5,277.32 18.41% Operat
Slide 45: Last two years Consolidated Debt Highlight
Last two years Consolidated Debt Highlight Term Debt Working Capital Debt Total Debt In ₹ Mn BG / LC Charges & Other Borrowing Cost In ₹ Mn Interest on Contractee Advances Interest to Lenders 22,616.13 4,195.27 4,184.23 17,521.28 785.88 779.55 12,209.92 932.69 1,140.84 10,978.16 Investor Presentatio
Slide 46: Last 5 Year Financial Overview
Last 5 Year Financial Overview
Slide 47: Last Years Standalone Financial Highlights
Last 5 Years Standalone Financial Highlights Revenue from Operations Operating EBITDA Net Profit Op. EBITDA Margin Net Profit Margin In ₹ Mn In ₹ Mn In % 5,404.78 38,171.26 4,575.35 15.10 14.16 13.38 30,298.46 9.82 2,770.38 23,330.59 20,698.90 5.34 1,688.49 1558.53 4.01 4.08 17,191.25 1,246.66 Inves
Slide 48: Key Standalone Ratios
Key Standalone Ratios EV/EBITDA In Times Market Cap/Sales In Times 7.74 0.34 0.29 0.29 5.01 5.18 4.44 3.95 0.15 0.14 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Debt To Equity In Times Interest Coverage In Times 1.50 Investor Presentation Q4 FY23 1.36 0.96 1.22 0.85 1.18 0.74 0.77 0.54 0.42 FY
Slide 49: Last Years Consolidated Financial Highlights
Last 5 Years Consolidated Financial Highlights Revenue from Operations Op. EBITDA Net Profit Op. EBITDA Margin Net Profit Margin In ₹ Mn In ₹ Mn In % 42,019.71 6,248.76 15.25 15.61 14.87 33,803.05 5,277.32 11.76 3,601.21 7.08 6.30 26,172.14 3.68 23,622.00 2,346.36 1.63 1,853.33 0.17 19,947.93 1487.2
Slide 50: Key Consolidated Ratios
Key Consolidated Ratios EV/EBITDA In Times Market Cap/Sales In Times 8.02 0.31 0.27 0.24 5.54 5.32 5.19 3.91 0.13 0.12 FY19 FY20 FY21 FY22 FY23 FY19 FY20 FY21 FY22 FY23 Debt To Equity In Times Interest Coverage In Times Investor Presentation Q4 FY23 1.19 1.53 1.78 1.01 0.95 0.90 1.55 1.21 0.61 0.14
Slide 51: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement In ₹ Mn Particulars FY19 FY20 FY21 FY22 FY23 Revenue from Operations 20,698.90 23,330.59 17,191.25 30,298.46 38,171.26 Other Income 2,862.06 3,149.45 1,433.07 1,349.29 1,442.71 Total Income 23,560.96 26,480.04 18,624.32 31,647.75 39,613.97 Expenses Costs of Materia
Slide 52: Standalone Balance Sheet
Standalone Balance Sheet In ₹ Mn Assets FY19 FY20 FY21 FY22 FY 23 Non Current Assets Fixed Assets 2,728.94 3,118.66 3,655.61 10,753.88 11,973.83 Non Current Investments 6,005.02 6,692.17 6,539.91 2,578.15 2,256.91 Other Non Current Financial Assets 15,178.73 15,446.71 15,083.23 16,318.93 15,220.74 O
Slide 53: Standalone Balance Sheet
Standalone Balance Sheet In ₹ Mn Equities & Liabilities FY19 FY20 FY21 FY22 FY23 Equity 164.25 408.18 465.45 479.23 773.62 Reserves 22,874.63 25,292.65 24,458.04 23,046.11 27,803.89 Net Worth 23,038.88 25,700.83 24,923.49 23,525.34 28,577.51 Non-current Liabilities Long-term Borrowing 9,095.38 6,279
Slide 54: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement In ₹ Mn Particulars FY19 FY20 FY21 FY22 FY23 Revenue from Operations 23,622.05 26,172.14 19,947.93 33,803.05 42,019.71 Other Income 1,751.00 1,711.64 1,091.35 1,162.06 1,203.53 Total Income 25,373.05 27,883.78 21,039.28 34,965.11 43,223.24 Expenses Cost Of Materi
Slide 55: Consolidated Balance Sheet
Consolidated Balance Sheet In ₹ Mn Assets FY19 FY20 FY21 FY22 FY23 Non Current Assets Fixed Assets 16,412.38 17,480.77 13,611.47 14,631.43 15,887.08 Non Current Investments 1,164.43 789.75 678.90 816.08 1,242.26 Other Non Current Financial Assets 7,369.34 6,201.10 6,492.59 11,428.32 10,723.46 Other
Slide 56: Consolidated Balance Sheet
Consolidated Balance Sheet In ₹ Mn Equities & Liabilities FY19 FY20 FY21 FY22 FY23 Equity 164.24 408.17 465.45 479.23 773.62 Reserves 22602.88 25061.78 22730.21 23357.76 28,105.95 Net Worth 22767.12 25469.95 23195.66 23836.99 28,879.57 Minority Interest 565.93 330.98 612.90 714.11 878.20 Total Equit
Slide 57: Stock Data
Stock Data NSE: PATELENG BSE: 531120 | ISIN: INE244B01030 Share Holding Pattern As on 12-05-2023 As on 31-03-2022 Share Price (₹) 26.60 Market Capitalization (₹ Mn) 20,578.20 No. of Shares Outstanding 77,36,17,228 Promoters Face Value (₹) 1.00 39.41% 52 week High-Low (₹) 26.95 – 13.15 FII 49.29% TTM
Slide 58: The Way Forward
ee may rs sees a 1 eee Patal Since 1949
Slide 59: Future Growth Drivers
Future Growth Drivers Over the past few Reduction of Debt Infrastructure years the company which shall help in development is prime has monetized non reduction of interest focus of GOI which has core asset for cost and improve been continued in the profitability reduction of debt FY24 budget with wh
Slide 60: Rights Issue Subscribed Successfully
Offer Size ₹ 3,249.19 Mn 3 Offer Size (Nos): Right Issue Ratio 25,78,72,409 equity shares 2 4 1:2 (One equity share for every with face value of ₹ 1 each two equity shares held) Offer Price: Post Issue Equity: ₹12.60 1 5 ₹ 773.62 Mn Investor Presentation Q4 FY23 Right Issue Subscribed Successfully 5
Slide 61: Monetization of Non-Core Assets - Land Sale
Monetization of Non – Core Assets - Land Sale Sale Of Land Parcel In FY23 Number Of Land Parcel Land Parcel Size Location Amount Realized Sold Repayment of Debt ~ 201 Acres Telangana ~ ₹ 670 Mn 3 Total Available Land Balance Land Approx Value in Books Bank ~ 2,150 Acres. Bank Details ₹ ~ 10,000 Mn I
Slide 62: Monetization of Non-Core Assets - Arbitration Awards
Arbitration Awards Money Realized in FY23 Against Bank Guarantee Monetization of Non – Core Assets - Project Amount Received Realization Used For Sawrakuddu Package I ~ ₹ 640 Mn Debt Prepayment Parbati HEP ~ ₹ 930 Mn Debt Prepayment Summary Of The Awards & Claims As On March 31 2023 In ₹ Mn Arbitrat
Slide 63: Investment highlights
A leading player in the hydroelectric space, with a Strong experience and reputation in the track record of participating in some of India's most infrastructure space for over 74 years. prestigious and strategically significant projects. The government's focus on hydroelectric Our focus on niche seg
Slide 64: 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