Dilip Buildcon Ltd. · NSE:DBL
Dilip Buildcon — Q3 FY24 Earnings Presentation
44 slides from Dilip Buildcon's earnings presentation, Feb 12, 2024
Slide 1: Investor Presentation Filing Letter to Exchanges
DILIP BUILDCON LIMITED INFRASTRUCTURE & BEYOND February 12,2024 To To BSE Limited National Stock Exchange of India Ltd. Listing Department Exchange Plaza, C-1, BIock G P.J Tower, Dalal Street BandraKurla Complex, Mumbai - 400001 Bandra (E), Mumbai - 400051 Stock Symbol -540047 Stock Symbol -DBL Sub:
Slide 2: Earnings Presentation Q3FY24
Heading Dilip Buildcon Limited Earnings Presentation Q3FY24 EARNINGS PRESENTATION Q2 FY23
Slide 3: Table of Content
Table of Content Business Highlights 03 Standalone Financial Highlights 13 Consolidated Financial Highlights 21 Equity and divestment Tracker 23 Strategic partnership with Alpha Alternatives 26 Key Projects Update 30 Company Overview 36
Slide 4: Business Highlights
DILIP BUILDCON LIMITED
Slide 5: Business Highlights – YTD FY24
Business Highlights –YTD FY24 WON 4 NEW PROJECT COMPLETED 5 PROJECTS DIVESTMENT WORTH ₹ 26,413 Mn WORTH ₹ 30,654 Mn STATUS Won 4 projects worth Completed 4 HAM worth ₹ 24,954 Shrem InvIT : 100% equity stake ₹ 26,413 Mn in the state of Mn and 1 EPC projects worth ₹ divested in 9 HAM projects and Madh
Slide 6: New Projects Won – YTD FY24
New Projects Won – YTD FY24 ₹ in Mn. Period in Project Name Type State Name of Employer Contract Value which order Vertical Wise New Orders excluding GST won Malhargarh Pressurized Madhya Water Resource Micro Lift Major Irrigation Irrigation 6,990 Q1 Pradesh Department MP Project Narmada Gambhir Mul
Slide 7: Projects Completed – YTD FY24
Projects Completed – YTD FY24 ₹ in Mn. Scheduled Date of Actual Early Name of Type of EPC Cost Project Name State Completion including EOT Completion Completion the Employer Work excluding GST (Extension of Time) Date Days NHAI Pathrapali-Kathghora Package II Chhattisgarh HAM 4,878 01.08.2023 16.06.
Slide 8: Order Book – as on 31st December 2023
Order Book – as on 31st December 2023 ₹ in Mn. Vertical Wise Model Wise Tunnel, Special Bridge, ₹4,606 , (2%) Urban Development, ₹14,460 , (7%) ₹2,700 , (1%) Metro, Road, ₹11,235 , (5%) ₹71,838 , (33%) HAM, 33.8% Mining, ₹40,744 , (19%) EPC, 66.2% Water Supply, Irrigation, ₹32,623 , (15%) ₹40,223 ,
Slide 9: Business Division wise order book
Order Book as on 31st December 2023 Business Division wise order book – ₹ 2,18,429 Mn. ROADS & HIGHWAYS IRRIGATION METRO WATER SUPPLY ₹ 71,838 Mn. ₹ 40,223 Mn. ₹ 11,235 Mn ₹ 32,623 Mn 32.89% 18.41% 5.14% 14.94% EARNINGS PRESENTATION Q3 FY24 8
Slide 10: Business Division wise order book
Order Book as on 31st December 2023 Business Division wise order book – ₹ 2,18,429 Mn. SPECIAL BRIDGES & TUNNEL AIRPORT MINING URBAN DEVELOPEMENT ₹ 14,460 Mn ₹ 0 Mn ₹ 40,744 Mn ₹ 7,306 Mn 6.62% 0.00% 18.65% 3.35% EARNINGS PRESENTATION Q3 FY24 9
Slide 11: Order Book – Trend
Order Book – Trend ₹ in Mn. 2,74,114 2,55,945 2,53,950 2,38,881 2,40,509 2,39,886 2,18,429 2,11,718 1,90,816 FY18 FY19 FY20 FY21 FY22 FY23 Q1FY24 Q2FY24 Q3FY24 EARNINGS PRESENTATION Q3 FY24 10
Slide 12: Order Book – Geography wise
Order Book as on 31st December 2023 ₹ in Mn. Completed Ongoin g contract Ongoing order % to total ongoing Geography wise order book State contract value value book order book Madhya Pradesh 1,29,288 98,191 63,774 29.20% Gujarat 20,673 51,466 32,144 14.72% Goa, 1.26% Jharkhand 16,128 46,897 31,754 14
Slide 13: DBL-HAM Portfolio
DBL-HAM Portfolio ₹ in Mn. Sr No. Particulars Bid project cost Remarks ➢ 18 HAM projects 100% divested to Shrem InvIT and Cube Highways 1 19 HAM projects divested or under-divestment 2,42,649 ➢ 1 HAM projects under-divestment to Shrem InvIT ➢ 3 HAM project completed 2 18 HAM projects completed and u
Slide 14: Standalone Financial Highlights
Standalone Financial Highlights
Slide 15: Standalone Result Summary – Q3 FY24 vis-à-vis Q3 FY23
Standalone Result Summary – Q3 FY24 vis-à-vis Q3 FY23 (y-o-y) (₹ in Mn) Revenue from Operations EBITDA excl. other income Profit after Tax 8.08% 27.55% 19.87% 25,711 3,185 953 23,788 795 2,497 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 EARNINGS PRESENTATION Q3 FY24 14
Slide 16: Standalone Result Summary – 9M FY24 vis-à-vis 9M FY23
Standalone Result Summary – 9M FY24 vis-à-vis 9M FY23 (₹ in Mn) Revenue from Operations EBITDA excl. other income Profit after Tax 4.74% 32.16% 82.45% 72,622 76,065 9,468 2983 7,164 1635 9M FY23 9M FY24 9M FY23 9M FY24 9M FY23 9M FY24 EARNINGS PRESENTATION Q3 FY24 15
Slide 17: Standalone Results Update
Standalone Results Update ₹ in Mn. Particulars Q3 FY24 Q3 FY23 Y-o-Y (%) Q2 FY24 9M FY24 9M FY23 Y-o-Y (%) Revenue 25,711 23,788 8.08% 24,270 76,065 72,622 4.74% Operating expenses 22,526 21,291 5.80% 21,335 66,597 65,458 1.74% EBITDA excl. other income 3,185 2,497 27.55% 2,935 9,468 7,164 32.16% EB
Slide 18: Standalone Balance Sheet
Standalone Balance Sheet ₹ in Mn. Particulars Dec’23 Sep’23 Mar’23 Particulars Dec’23 Sep’23 Mar’23 ASSETS EQUITY AND LIABILITIES Non-current assets Equity (a) Property, plant and equipment 11,542 12,066 13,252 (a) Equity share capital 1,462 1,462 1,462 (b) Capital work in progress - - - (b) Other e
Slide 19: Standalone Cash Flow
Standalone Cash Flow ₹ in Mn. Particulars Q3 FY24 H1 FY24 9MFY24 Particulars Q3 FY24 H1 FY24 9MFY24 CASH FLOW FROM OPERATING ACTIVITIES CASH FLOW FROM INVESTING ACTIVITIES Net profit before tax as per Statement of Profit and Loss 1,500 2,690 4,190 Purchase of Fixed Assets (196) (843) (1,039) Adjustm
Slide 20: Quarterly – Net Working Capital Days
Quarterly –Net Working Capital Days 104 107 109 93 89 102 85 97 96 96 82 94 91 79 86 76 75 71 70 72 80 68 82 80 67 75 67 63 58 59 58 56 49 49 47 48 48 44 42 121 106 111 113 121 120 126 127 124 119 117 118 115 Dec'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22 June'22 Sep'22 Dec'22 Mar'23 Jun'23 Sep'23 Dec'2
Slide 21: Quarterly - Standalone Net Debt To Equity Ratio
Quarterly - Standalone Net Debt To Equity Ratio 0.9 ₹ in Mn. 0.79 0.76 0.73 0.73 0.66 0.63 0.61 0.58 0.52 0.51 0.6 0.43 0.54 0.53 0.53 0.51 0.51 0.36 0.46 0.48 0.48 0.44 0.42 0.38 0.3 0.32 0.25 0.23 0.22 0.2 0.17 0.15 0.13 0.1 0.08 0.09 0.05 0.04 Dec'20 Mar'21 June'21 Sep'21 Dec'21 Mar'22 Jun'22 Sep
Slide 22: Consolidated Financial Highlights
Consolidated Financial Highlights
Slide 23: Consolidated Profit & Loss
Consolidated Profit & Loss ₹ in Mn. Particulars Q3 FY24 Q2 FY24 Q3 FY23 9M FY24 9M FY23 Revenue from Operations 28,768 28,487 23,224 86,463 78,026 Other income 248 455 285 938 576 Total Income 29,016 28,942 23,509 87,401 78,602 Expenses Cost of materials consumed 24,250 23,719 20,294 71,317 67,433 C
Slide 24: Equity and divestment Tracker
Equity and divestment Tracker
Slide 25: Equity Tracker
Equity Tracker ₹ in Mn. Actual Balance in FY 25 FY 26 FY 27 FY28 FY29 Particulars Requirement Invested Q4 FY24 Projected Projected Projected Projected Projected Till Dec-23 Projected 18 HAM Projects* 22,573 12,712 2,624 4,015 2,858 364 - - Siarmal Coal – MDO Project 5,766 1,419 - 1,117 1,179 1,254 6
Slide 26: Status of Divestment - HAM Projects to Shrem InvIT
Status of Divestment - 10 HAM Projects to Shrem InvIT During December 22, DBL Group signed definitive agreements with Shrem InvIT for divestment of 10 2 Projects 51% equity shareholding and 1 HAM Projects for a Valuation of ₹ ₹ 23,490 mn Project 49% equity shareholding transferred during Q1 & Q2 -FY
Slide 27: Strategic partnership with Alpha Alternatives
Strategic partnership with Alpha Alternatives
Slide 28: Long-term strategic partnership with Alpha Alternatives
Dilip Buildcon Ltd - Long-term strategic partnership with Alpha Alternatives Key Terms of strategic partnership • Dilip Buildcon Limited (DBL) entering into a long-term strategic partnership with Alpha Alternatives (AA) for construction, financing and monetization of road projects through an InvIT p
Slide 29: DBL- AA Partnership Construct
DBL- AA Partnership Construct Stage 1: • Setup jointly owned InvIT platform • DBL to be the operating partner primarily responsible for evaluating and constructing road projects whereas AA to be the financial partner focused on financing and value optimization. • AA will also have the responsibility
Slide 30: DBL- AA Partnership Update
DBL- AA Partnership Update • 10% stake in DBL through preferential allotment of warrants • AA with its associates invested Rs.1,331.20 Mn in DBL on December 21, 2023 towards subscription of equity warrants of 1,62,29,862 (25% the total consideration payable). • Balance 75% of the total consideration
Slide 31: Key Projects Update
DILIP BUILDCON LIMITED
Slide 32: Key Project Progress- HAM Projects
Key Project Progress- HAM Projects Payment Milestone (Grant) % of work done as on Sr. No Project Name Appointed Date Achieved 31.12.2023 1 Narenpur Purnea Highways Private Limited 5th PM, 90% Physical Progress 18.03.2021 95.21 2 Bangalore Malur Highways Limited 9th PM, 80% Physical Progress 15.09.20
Slide 33: Key Project Progress- HAM Projects
Key Project Progress- HAM Projects Payment Milestone (Grant) % of work done as on Sr. No Project Name Appointed Date Achieved 31.12.2023 11 Karimnagar-Warangal Highways Limited 2nd PM, 10% Physical Progress 18.07.2023 11.85 12 Urga-Pathalgaon Highways Limited - Feb 2024 (E) AD awaited Kodur to Vanav
Slide 34: Key Project Progress- EPC Projects
Key Project Progress- EPC Projects ₹ in Mn. Metro Outstanding Order Book Schedule Date of Project Name Contract Value LOA Date Date of Start as on 31.12.2023 Completion with EOT Bhopal Metro 2,206 229 Oct-18 Nov-18 Jun-24 Indore Metro 2,044 271 Oct-18 Dec-18 Apr-24 Surat Metro Rail Project, Phase-1
Slide 35: Key Project Progress- EPC Projects
Key Project Progress- EPC Projects ₹ in Mn. Road Outstanding Order Book Schedule Date of Project Name Contract Value LOA Date Date of Start as on 31.12.2023 Completion with EOT Gorakhpur Link Expressway Project, Package-II 12,500 110 Nov-19 Jun-20 Mar-24 Special Bridge Outstanding Order Book Schedul
Slide 36: Key Project Progress- EPC Projects
Key Project Progress- EPC Projects ₹ in Mn. Road Irrigation Outstanding Order Book Schedule Date of Project Name Contract Value LOA Date Date of Start as on 31.12.2023 Completion with EOT Navnera Barrage 5,366 719 Oct-18 Oct-18 Oct-24 Bhadbhut Barrage 37,212 21,407 July-20 July-20 Oct-24 Malhargarh
Slide 37: Company Overview
DILIP BUILDCON LIMITED
Slide 38: Overview
Overview ₹ in Mn. Pan India presence 19 states Largest employer in construction & 1 Union Territory industry 26,899 employees Largest owner of construction Diversified orderbook of ₹. 2,18,429 equipment’s 10,571 from 8 verticals No subcontracting, vertically Early completion bonus integrated and use
Slide 39: Our Journey
Our Journey ₹ in Mn. The Company continues its Company expanded into Dilip Suryavanshi, a Converted to a private expansion pace, wining its the Irrigation development young civil engineer limited company to fulfil first EPC project worth ₹ segment with a focus on started Dilip Builders as First back
Slide 40: Our Journey
Our Journey ₹ in Mn. IPO: oversubscribed by Completed 14 projects Completed 12 22 times, making it the Forays into worth ₹ 1,05,440 which projects worth ₹ most successful EPC Airport is highest completion in 81,599 in 8 states issuance in almost a development a single year despite several decade seg
Slide 41: 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 Poles Pipe Rolling Metal Beam Crash Barrier Road Marking Pai
Slide 42: Leadership Team
Leadership Team MR. DILIP SURYAVANSHI MR. DEVENDRA JAIN Chairman & MD MD & CEO Dilip Suryavanshi is the Chairman and Managing Devendra Jain is a Managing Director and Chief Director of our Company. He holds a bachelors Executive Officer of our Company. He holds a degree in civil engineering from the
Slide 43: Leadership Team
Leadership Team BHARAT SINGH ROHAN SURYAVANSHI KARAN SURYAVANSHI SANJAY BANSAL President Head – Strategy & Planning Head – Business Development Chief Financial Officer Bharat Singh joined Dilip Builders in Rohan Suryavanshi joined DBL in 2007. Karan Suryavanshi joined DBL in 2010. Sanjay Kumar Bansa
Slide 44: Thank You
Thank You Dilip Buildcon Limited Mr. Gautam Jain Registered Office: Plot No. 5, Inside Govind Narayan Singh Gate, Chuna Bhatti, Kolar Road, Bhopal Madhya Pradesh - 462 016 L45201MP2006PLC018689 Mumbai Office: C/o Kontor, C-608, One BKC, G Block, Bandra Kurla Complex, Bandra (East), Mumbai - 400051 C