Kridhan Infra Limited · NSE:KRIDHANINF
Kridhan Infra — Q3 FY2019 Earnings Presentation
25 slides from Kridhan Infra's earnings presentation, Feb 22, 2019
Slide 1: Submission letter to exchanges for Q3FY2019 investor presentation
Kridhan Infra Limited zzndfeb-ruary,2019 To, To, The BSE Limited • National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, C-1, Block G, Dalal Street, Fort, Bandra Kurla Complex, Bandra(E), Mumbai 400001. Mumbai 400051. Ref: Scrip Code: 533482 Ref: Symbol: KRIDHANINF Subject
Slide 2: Kridhan Infra Limited Investor Presentation Q3FY19
Kridhan Infra Limited INVESTOR PRESENTATION | Q3FY19
Slide 3: Disclaimer
Disclaimer This presentation contains forward-looking statements which may be identified by their use of words like “plans,” “expects,” “will,” “anticipates,” “believes,” “intends,” “projects,” “estimates” or other words of similar meaning. All statements that address expectations or projections abo
Slide 4: Q3FY19 Highlights & Strategic Review
Q3FY19 Highlights & Strategic Review
Slide 5: Agenda
Agenda 1. Introduction Slide No. 5 2. Q3FY19 & 9MFY19 Highlights Slide No. 6-12 3. Guidance & Company Overview Slide No. 13-17 4. Appendix – Company Highlights Slide No. 18-23 4
Slide 6: Kridhan: Strategically Positioned EPC company
Kridhan: Strategically Positioned EPC company A Leading Engineering, Procurement Singapore, India, Malaysia, Kridhan Infra Limited and Construction Company in Asean Indonesia (Listed on BSE and NSE) Strong Project Execution Skill 300+Projects Completed Bid for unlimited value of projects Prestigious
Slide 7: 9MFY19: Financial Highlights
9MFY19: Financial Highlights Revenue (INR Mn) EBITDA (INR Mn) Pre Exceptional PAT MI (INR Mn) 807 444 6,000 726* 5,353 344 9MFY18 9MFY19 9MFY18 9MFY19 9MFY18 9MFY19 Reported 9M Revenue and EBITDA numbers do not include contribution from India EPC Business; o PAT MI includes VNC numbers as an assoc
Slide 8: Q3 FY19 Financial Performance
Q3 FY19 Financial Performance INR Mn Q3FY19 Q3FY18 Y-o-Y% Revenue 2,353 1,379 71% Expenses 2,163 1,120 93% EBITDA 190 259 -27% EBITDA Margin 8% 19% -57% Depreciation 95 88 8% Finance Cost 63 67 -6% Other Income 54 18 200% Exceptional Items - PBT 85 122 -30% Tax 9 4 125% Share of Profit/Loss from Ass
Slide 9: 9M FY19 Financial Performance
9M FY19 Financial Performance INR Mn 9MFY19 9MFY18 Y-o-Y% FY18 Revenue 6,000 5,353 12% 7,125 Expenses 5,274 4,546 16% 6,030 EBITDA 726 807 -10% 1,095 EBITDA Margin 12% 15% 15% Depreciation 295 339 -13% 408 Finance Cost 149 139 7% 162 Other Income 112 72 56% 77 Exceptional Items -66 -4 -163 PBT 328 3
Slide 10: 9M FY19: Solid Execution in Singapore Foundation Engineering and India EPC
9M FY19: Solid Execution in Singapore Foundation Engineering and India EPC Strong Growth FY19 Guidance Total Order Book INR 38.6 bn Consolidated Revenue: INR 18-20 INR 5.95 bn billion Order Wins in Q3FY19 o India EPC revenue: INR 12-13 Order wins since end of Q3 FY19 INR 1.7 bn billion o SG EPC reve
Slide 11: Strong Order Inflows Across Businesses
Strong Order Inflows Across Businesses India: VNC IN Q3FY19 Current Order Book Break-up INR 2,700+ million (Proforma Basis: INR 38 billion) o Purvanchal Expressway in Uttar Pradesh (Package – 5) worth INR 1,670 million o Mumbai – Nagpur Super Communication Expressway in SG EPC, Maharashtra worth INR
Slide 12: India EPC (VNC) in Q3FY19 – Turnaround stays on course
India EPC (VNC) in Q3FY19 – Turnaround stays on course Operational Highlights VNC Order Book Breakup ▪ Won new orders worth INR 2.7 bn during Q3FY19 (INR 30+ billion) ▪ Significantly strengthened Balance Sheet after equity infusion from Kridhan Infra Affordable Housing Roads & Bridges 26% Way Forwar
Slide 13: Singapore Performance Update
Singapore Performance Update KH Foges Swee Hong ▪ Strong order book growth; Won new piling ▪ Pre-acquisition legacy orders are nearing orders worth SG$ 24.6 million in Q3FY19 completion ▪ Commenced construction at key projects ▪ Phase I of legacy large contract at Swee Hong ▪ Bid pipeline of INR 31.
Slide 14: Guidance & Overview
Guidance & Overview
Slide 15: FY19 Strategic Priorities and Guidance
FY19 Strategic Priorities and Guidance Strategic Priorities FY19 Guidance Consolidated Revenue: INR 18-20 billion Consolidate VNC as a majority owned Subsidiary o India EPC revenue: INR 12-13 billion o SG EPC revenue: INR 1.5-2 billion o SG FE revenue: INR 4-5 billion Strengthen India EPC EBITDA: IN
Slide 16: Proforma Financial Performance and Order Book
Proforma Financial Performance and Order Book 9M FY19 Proforma Financial Performance Current Order Book Break-up Assuming 50.5% stake in VNC (Proforma Basis: INR 38 billion) Proforma (INR Mn) 9MFY18 (Actual) 9MFY19 (PF) Y-o-Y% SG EPC, 11% Revenue 5,353 13,151 146% EBITDA 807 1,494 85% SG FE, 11% EBI
Slide 17: Status on VNC Stake
Status on VNC Stake Kridhan Infra vigorously pursuing the issue of NOC by VNC lenders so as to be able to increase its stake in VNC beyond 50% ▪ 5 of 9 VNC Lenders have already issued the NOC to allow Kridhan Infra to raise its stake to beyond 50%, subject to all others lenders agree. ▪ IDBI Bank, c
Slide 18: Strong Financial Position
Strong Financial Position Total Revenue (INR Mn) EBITDA (INR Mn) and EBITDA % 15.40% 15.20% 1,046 1,095 6,799 6,882 7,125 13.50% 6,517 10.90% 10.30% 11.40% 740 4,692 4,887 674 659 535 FY13 FY14 FY15 FY16 FY17 FY18 FY13 FY14 FY15 FY16 FY17 FY18 Net worth (INR MN) 5,599 Debt (INR Mn) Acquisition Worki
Slide 19: Appendix
Appendix
Slide 20: Group Structure
Group Structure Listed on BSE and NSE Kridhan Infra Ltd (India) BSE Code: 533482 NSE Code: KRIDHANINF Listed on Singapore Stock Kridhan Infra Vijay Nirman RMS Singapore Pte Exchange Solutions Pvt Ltd Company P Ltd Ltd (Singapore) SGX: QF6.SI (India) (India) 100% 100% 41.47% Bloomberg Ticker: SWHP:SP
Slide 21: Grown Fast through Well-Timed Acquisitions
Grown Fast through Well -Timed Acquisitions 2017/2018 2016 Acquired 2014 41.47% stake 2013 Acquired in Vijay Swee Hong Nirman 2012 Acquired 35% Singapore Company P Acquired Limited; a Ltd 2011 stake in Econ PSL leading listed Geo Tech Pte Civil Acquisition engineering, 2007 of KH Foges Singapore – L
Slide 22: Robust Order Book: More diversified, More India Focused
Robust Order Book: More diversified, More India Focused DECEMBER’18 Order Book FY16 Order Book March’17 PROFORMA ORDER BOOK Rs 6,660 Mn INR 7,915 Mn INR 38+ billion SG EPC, 11% RMS RMS 14% SG FE, 11% 10% India EPC India 7% FE 19% SG EPC 47% SG FE 71% SG FE 32% India EPC (VNC), 78% 21
Slide 23: Profit & Loss Statement
Profit & Loss Statement INR Mn FY18 FY17 FY16 Revenue 7,125 6,882 4,887 Total Expenditure -6,599 -6,404 -4,228 EBITDA 1,095 1,046 659 EBITDA Margin (%) 15.40% 15.20% 13.5% Interest -162 -176 -119 Depreciation -408 -392 -327 Other Income 77 186 69 PBT 602 664 282 Tax -48 -5.1 -58 PAT (pre-exceptional
Slide 24: Balance Sheet
Balance Sheet INR Mn FY18 FY17 FY16 INR Mn FY18 FY17 FY16 Share Capital 190 148 148 Non Current Assets 4,927 4,190 2,659 Reserves and Surplus 5,409 2,650 1,622 Fixed Assets 1,994 2,275 1,848 Share & Warrant Application Goodwill on 506 0 0 1,517 1,437 223 Money Consolidation Minority Interest 205 169
Slide 25: Contact Detail
Contact Detail Ms. Sheetal Khanduja Go India Advisors +91 9769364166 sheetal@goindiaadvisors.com Ms. Tanya Khosla Go India Advisors +91 9769387813 tanya@goindiaadvisors.com