Ceigall India Limited · NSE:CEIGALL
Ceigall India — Q1 FY25 Earnings Presentation
37 slides from Ceigall India's earnings presentation, Aug 29, 2024
Slide 1: Exchange filing cover letter
Date: August 29, 2024 To, To, The General Manager, Manager-Listing Compliance, Department of Corporate Services, National Stock Exchange of India Limited, BSE Limited Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers Bandra Kurla Complex, Bandra East, Dalal Street, Mumbai- 400001 Mumbai – 4000
Slide 2: Investor Presentation Q1FY25
INVESTOR PRESENTATION Q1FY25
Slide 3: 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 4: Quarterly Business Performance
Quarterly Business Performance
Slide 5: Quarterly Business Performance
Quarterly Business Performance Revenue EBITDA & EBIDA Margin PAT & PAT Margin 13.4% 17.5% 6.8% 9.5% +26% +77% +65% 8,223.9 778.6 1,440.8 6,501.7 872.6 441.0 Q1FY24 Q1FY25 Q1FY24 Q1FY25 Q1FY24 Q1FY25 4
Slide 6: Net Working Capital Days
Net Working Capital Days 10 29 40 45 38 58 55 45 45 44 36 37 37 33 25 23 21 17 18 16 16 15 14 11 8 Mar-21 Mar-22 Mar-23 Mar-24 Jun-24 Inventory Debtors WIP Creditors Net Working Capital 5
Slide 7: Strong Order Book (1/2)
Strong Order Book (1/2) Balance S.NO Name of Project/Work Type 30.06.2024 (Rs. 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), 1 excluding section from Ch.166+610
Slide 8: Strong Order Book (2/2)
Strong Order Book (2/2) Balance S.NO Name of Project/Work Type 30.06.2024 (Rs. Crs) Construction of Four Lane Elevated Corridor and at-grade improvements from Design Ch:0+000 to Design Ch: 19+870 of Danapur – Bihta Section with providing connectivity to the existing RoB near Danapur station (0.231 k
Slide 9: Consolidated Quarterly Income Statement
Consolidated Quarterly Income Statement Particulars (Rs. mn) Q1 FY25 Q1 FY24 Y-o-Y Q4 FY24 Q-o-Q Revenue from Operations 8,224 6,502 9,436 Total Revenue 8,224 6,502 26.5% 9,436 -12.8% Cost of Material Consumed 2,768 2,453 3,222 Cost of Construction 3,644 2,890 4,196 Total Raw Material 6,412 5,343 7,
Slide 10: Ongoing EPC Project Portfolio
Ongoing EPC Project Portfolio % State / Kms / Total Project S.No Project Authority Type JV Partners Stake Stretch Lanes Cost (Rs. 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
Slide 11: Ongoing EPC Project Portfolio
Ongoing EPC Project Portfolio % State / Kms / Total Project S.No Project Authority Type JV Partners Stake Stretch Lanes Cost (Rs. Crs) Improvement/Upgradation, Widening and strenthering of Mansi-fungo 9 Halt, Bakhtiyarpur section of Mansi Sahara Hardi Chaughara Road (SH-95) from Km ) 0+000 to KM 28+
Slide 12: Ongoing HAM Project Portfolio
Ongoing HAM Project Portfolio Invested Company's share of Total Debt Debt as on 30th % State / Kms / Total Project S.NO Project Authority Status Equity as on 30, june Invested Amount Sanctioned June ‘24 Stake Stretch Lanes Cost (Rs. Crs) , 2024 (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Six laning of J
Slide 13: Company Overview
Company Overview
Slide 14: 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 INR 94,708 Mn INR 30,294 Mn Experience in Highways As on June 30, 2024 Revenue and Roads (FY21 – FY24 CAGR of 36%) 34+ 18
Slide 15: 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 16: 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 17: Project Execution Capability Across Various States
Project Execution Capability Across Various States Jammu & Kashmir 2 2 Himachal Pradesh 6 Punjab 1 Delhi* 13 1 1 Haryana Uttar Pradesh 4 1 2 Rajasthan* 1 Bihar 1 Ongoing Project (#’s) Completed Project (#’s) *These projects are under JVs Maharashtra 1 2 Jharkhand Demonstrated Project Execution exper
Slide 18: 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 19: Our Strengths
Our Strengths
Slide 20: 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 June 30, 2024 ₹ 57,000.00 Mn ₹ 55,000.00 Mn Single NHAI EPC Single NHAI HAM Project bid Eligibility1 Project bid Eligibility1 4.9% 39.4% 7.2% 1.0% 60.6% 86.9% 18 80.31% Ongoing Projects1 Order
Slide 21: 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 22: 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 23: 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 24: 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 25: Strong Managerial Personnel
Strong Managerial Personnel Led by Experienced Management Team Utkarsh Gupta, Ravindra Singh Sikarwar, Puneet Sharma, Bhagat Singh, Kapil Agarwal, Ramesh Kumar Gupta, Company Secretary and Deputy General Manager - Deputy General Manager – Group Chief Financial Officer Chief Financial Officer Chief O
Slide 26: Industry Overview
Industry Overview sf
Slide 27: 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 28: Industry Overview (2/3)
Industry Overview (2/3) Road Sector Railways and Metro Lines Proposed Expenditure under NRP (Rs. Trillion) Budget Allocation for MORTH (Rs. 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
Slide 29: 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 30: Consolidated Financials Highlights
Consolidated Financials Highlights
Slide 31: 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 Significant Increase In Revenue 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 And EBITDA Mar
Slide 32: 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 31
Slide 33: Consolidated Income Statement
Consolidated Income Statement Particulars (Rs. mn) 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 8,713 6
Slide 34: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement Particulars (Rs.mn) FY 24 FY 23 FY 22 FY 21 ASSETS Non ‐ Current Assets Property, plant and equipment 2960 2460 1255 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 3 1 (ii) Other Fin
Slide 35: Consolidated Balance Sheet Statement
Consolidated Balance Sheet Statement Particulars (Rs.mn) FY 24 FY 23 FY 22 FY 21 Equity (a) Equity share capital 786 393 393 10 (b) Other equity 8092 5538 3920 3043 Equity attributable to equity holders of the parent 8877 5,931 4,313 3,053 Non‐controlling interests 187 Total Equity 9,064 5,931 4,313
Slide 36: Consolidated Cash Flow Statement
Consolidated Cash Flow Statement Cash Flow Statement (Rs. Mn.) FY24 FY23 FY22 FY21 Cash Flow from Operating Activities Profit before Tax 4054 2252 1695 1513 Adjustment for Non-Operating Items 1175 745 185 96 Operating Profit before Working Capital Changes 5228 2997 1880 1609 Changes in Working Capit
Slide 37: Ceigall India Limited investor contacts
COMPANY : CEIGALL INDIA LIMITED CIN : L45201PB2002PLC025257 Mr. xxxxxxxxxx(xxxxxxxx) ir@ceigall.com Email: ir@ceigall.com www.ceigall.com INVESTOR RELATIONS ADVISORS : Mr. Nikunj Jain +91 9769060608 nikunj.jain@linkintime.co.in Mr. Viral Sanklecha +91 9987123158 viral.sanklecha@linkintime.co.in