Pnc Infratech Ltd · NSE:PNCINFRA
Pnc Infratech — Q3 FY2018-19 Earnings Presentation
38 slides from Pnc Infratech's earnings presentation, Feb 14, 2019
Slide 1: Cover letter to stock exchanges
PNC Infratech Limited An ISO : 9001-2008 Certified Companl, Ref No: PNC/SE/83118-19 Date:14.02.2019 To. To, The Manager The Manager The Department of Corporate Services The Listing Department BSE Limited National Stock Exchange of India Limited Floor 25,PJ. Towers, Exchange Plaza, Bandra Kurla Compl
Slide 2: Result Update Presentation Q3 & 9M FY 2018-19
PNC Infratech Limited Result Update Presentation Q3 & 9M FY 2018-19
Slide 3: Safe Harbour
Safe Harbour 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 securi
Slide 4: Key Highlights & Financials
1 Key Highlights & Financials PNC infratech 3
Slide 5: Key Highlights for Q3 FY19
Key Highlights for Q3 FY19 Q3 FY19 Rs. 66 crores Q3 FY19 Q3 FY18 PBT Rs. 102 crores +44% Rs. 46 crores Q3 FY19 EBITDA Rs. 727 crores Q3 FY18 +54% Rs. 66 crores Revenue +54% Q3 FY18 Rs. 472 crores PNC infratech 4
Slide 6: Key Highlights for 9M FY19
Key Highlights for 9M FY19 Revenue of Rs. 2,021 crores in 84% 9M FY19* as compared to Rs. 1,098 crores in 9M FY18 Rs. Remaining value of contracts 7,965 under execution as on Crores December 31st, 2018 • EBITDA of Rs. 306 crores in 9M FY19 compared to Rs. 158 Crores in 9M FY18 94% • EBITDA Margin of
Slide 7: Key Highlights: Early Completion Bonus
Key Highlights: Early Completion Bonus Agra - Lucknow Expressway Raebareli - Jaunpur BOT (Annuity) Project ✓ Receipt of Rs. 58.23 crore towards bonus for the ✓ Receipt of Rs. 33.73 crore towards the 'Bonus early completion on 3rd February 2018, has been Annuity' by one of its subsidiary company acco
Slide 8: Financial Closure Achieved for all HAM Projects
Financial Closure Achieved for all HAM Projects Financial Closure Achieved, Project Under Construction 2 laning with paved shoulders of 6 laning Chitradurga - Davanagere 4 laning Jhansi-Khajuraho section 4 laning Jhansi -Khajuraho section Dausa- Lalsot- Kauthun section of including Chitradurga bypas
Slide 9: Order-book Details
2 Order-book Details PNC infratech 8
Slide 10: Robust Order-book of over Rs. 7,900 crores
Robust Order-book of over Rs. 7,900 crores ◼ Remaining value of contracts under execution of Rs. 7,965 Remaining crores as on December 31, 2018. The below orders are Key EPC Projects Under Awarding Value not included in orderbook as on December 31, 2018: Construction Authority (Rs. Crores) ✓ Financi
Slide 11: Execution Status of Key Project
Execution Status of Key Project Project Project Type Execution Status Nagina-Kashipur EPC Appointed Date received and project is under-construction Koliwar-Bhojpur EPC Appointed Date received and project is under-construction Bhojpur-Buxar EPC Appointed Date received and project is under-constructio
Slide 12: Portfolio of Development Projects on PPP Mode
3 PORTFOLIO OF DEVELOPMENT PROJECTS ON PPP MODE PNC infratech 11
Slide 13: Sizeable Project Portfolio: Operational Projects
Sizeable Project Portfolio: Operational Projects PNC Share of Invested Total Debt as on % State / JV Kms / TPC Invested Grant Project Authority Type Equity Debt 31st Dec. ’18 Stake Stretch Partners Lanes (Rs. Crs) Amount (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Ghaziabad UP / SREI, 67.9*/ 3
Slide 14: Sizeable Project Portfolio: HAM Projects
Sizeable Project Portfolio: HAM Projects PNC Share of Invested Total Debt as on % State / JV Kms / TPC Invested Project Authority Type Equity Debt 31st Dec. ’18 Stake Stretch Partners Lanes (Rs. Crs) Amount (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Raj/ 83.45/ Dausa-Lalsot 100% NHAI Hybrid - 820 56 56
Slide 15: Annexure I – Summary Financials
4 Annexure I – Summary Financials PNC infratech 14
Slide 16: Standalone Profitability Statement – Q3 & 9M
Standalone Profitability Statement – Q3 & 9M YoY Growth YoY Growth Rs. Crores Q3 FY19 Q3 FY18 9M FY19 9M FY18 (%) (%) REVENUE 727.02 472.48 54% 2,021.16 1,097.70 84% EBITDA 102.14 66.27 54% 306.16 157.92 94% EBITDA margin 14.0% 14.0% 15.1% 14.4% Other Income 6.81 5.66 30.78 16.38 Depreciation 24.14
Slide 17: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crores) Sep-18 Mar-18 EQUITY AND LIABILITIES (Rs. Crores) Sep-18 Mar-18 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 424.77 404.81 (a) Equity Share capital 51.31 51.31 (b) Capital work-in-progress 10.49 11.14 (b) Other equity 1,877.35 1,755.39 (c
Slide 18: Net Working Capital Days
Net Working Capital Days* 136 136 124 129 122 120 122 109 113 105 112 92 86 68 Mar/13 Mar/14 Mar/15 Mar/16 Mar/17 Mar/18 Dec/18 Debtors Net Working Capital * - Standalone PNC infratech 17
Slide 19: Standalone Profitability Statement – Full Year
Standalone Profitability Statement – Full Year Rs. Crores FY18 FY17 YoY REVENUE 1,856.58* 1,689.11 10% EBITDA 318.83 221.02 44% EBITDA margin 17.2% 13.1% 410 bps Other Income 23.02 46.55 Depreciation 77.20 53.33 Interest 30.72 20.31 Profit Before Tax 233.93 193.93 21% Total Tax Expenses -17.11 -15.7
Slide 20: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crores) Mar-18 Mar-17 EQUITY AND LIABILITIES (Rs. Crores) Mar-18 Mar-17 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 404.81 345.90 (a) Equity Share capital 51.31 51.31 (b) Capital work-in-progress 11.14 7.82 (b) Other equity 1,755.39 1,520.86 (c)
Slide 21: Consolidated Profitability Statement – Full Year
Consolidated Profitability Statement – Full Year Rs. Crores FY18 FY17 YoY REVENUE 2,411.39 2,252.33 7% EBITDA 769.10 624.08 23% EBITDA margin 31.9% 27.7% 420 bps Other Income 24.35 40.60 Depreciation 261.81 241.57 Interest 309.31 310.19 Profit Before Tax 222.33 112.91 97% Total Tax Expenses -26.65 -
Slide 22: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Crores) Mar-18 Mar-17 EQUITY AND LIABILITIES (Rs. Crores) Mar-18 Mar-17 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 409.23 351.21 (a) Equity Share capital 51.31 51.31 (b) Capital work-in-progress 11.14 7.82 (b) Other equity 1,637.40 1,409.72 (
Slide 23: Annexure II – Company Overview
5 Annexure II – Company Overview PNC infratech 22
Slide 24: Introduction
Introduction Established track record of timely/early completion of projects Infrastructure construction, Executed 62 major development and infrastructure projects management company; spread across 13 states, of expertise in execution of which 39 are road EPC projects including highways, projects; c
Slide 25: Business Overview
Business Overview Completed first of its kind BOT Executed 20 airport annuity project - area runway projects across redevelopment and India & received ‘Super management of Industrial Completed 39 Special’ class Estate of Narela, New Delhi for infrastructure certification from Delhi State Industrial
Slide 26: Corporate Structure
Corporate Structure PNC Infra Holdings Limited (“PNCIHL”) BOT Holdco for road and other infra projects PNC Bareilly Nainital Highways Private Limited (“PNCBNHPL”) 4 laning of the Bareilly-Almora section of SH 37 Ferrovia Transrail Solutions Private Limited (“FTSPL”) MP Highways Private Limited (“M
Slide 27: Integrated Business Model
Integrated Business Model Equipment Bank In-house Design & Engineering ◼ Ownership of a fleet of modern ◼ Controls the entire process from equipment enables quick mobilization conceptualization to commissioning of besides ensuring continuous a given project which helps in availability of critical eq
Slide 28: Enhanced Execution Capability
Enhanced Execution Capability Man and Machine added to execute more projects ◼ Strengthening of In-house execution team with induction of engineers with strong technical knowledge ◼ Investments in Machinery over the years to augment and upgrade the execution capabilities Strong Credit Rating Enhance
Slide 29: Enhanced to augment & upgrade the execution
Enhanced to augment & upgrade the execution Rs. Crores - Capex addition 899 725 174 600 125 429 171 380 49 FY15 FY16 FY17 FY18 9M FY19 Capex over last 3 years will enable us to achieve a Turnover of Rs. 3,500-4,000 crores PNC infratech 28
Slide 30: In-house Equipment Bank
In-house Equipment Bank Name of Machinery OEM Quantity Heavy Duty Vehicles Ashok Leyland, Tata Motors 1,060 Diesel Generators Cummins/Jackson, Sudhir, Kirloskar, A/L, Greaves, Prakash, Escorts 384 Light Duty Vehicles and Attachments Mahindra, Tata, Farm Trac, John Deere 358 Passenger Vehicles Toyota
Slide 31: Strengthening of In-house execution team
Strengthening of In-house execution team Current Total Employees: Over 8,600 - Employee addition 8,617 2,842 5,775 4,284 1,491 3,776 3,947 337 171 FY15 FY16 FY17 FY18 9M FY19 Strengthening of In-house execution team with induction of engineers with strong technical knowledge PNC infratech 30
Slide 32: Enhanced Execution Capability
Enhanced Execution Capability ◼ Enhanced Working Capital Limits ✓ Enhanced Fund Based Limits from Rs. 650 crores to Rs. 750 crores which will enable us to execute projects without financial constraints ✓ Enhanced Non-Fund Based Limits from Rs. 2,650 crores to Rs. 3,350 crores will enable to Bid for
Slide 33: Strong Credit Rating
Strong Credit Rating Reaffirmed Assigned Upgraded ◼ PNC Infratech Ltd. ◼ PNC Khajuraho Highways Pvt. Ltd. ◼ MP Highways Pvt. Ltd.: CARE ✓ Long term bank facilities stands at CARE AA- ✓ Assigned CARE A-; Stable (Single A upgraded credit rating by 1 notch (Double A Minus) Minus; Outlook: Stable) on lo
Slide 34: Experienced Promoters
Experienced Promoters Mr. Pradeep Kumar Jain Mr. Naveen Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh Kumar Jain Chairman & Managing Director Promoter Managing Director & CFO Managing Director ◼ Over 39 years of experience ◼ Over 30 years of experience in ◼ Over 29 years of experience ◼ Over 24 year
Slide 35: Board of Directors
Board of Directors Mr. Pradeep Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh Kumar Jain Mr. Anil Kumar Rao CMD Managing Director & CFO Managing Director Whole-time Director Mr. Chhotu Ram Sharma Mr. Gauri Shankar Mr. Ashok Kumar Gupta Independent Director Independent Director Independent Director Mr
Slide 36: Clientele
Clientele > psiIpc Jpeida Delhi Stat dystal and Tfastrucure Developmen Upei of) saRTsUAR TAT Aw f =. Uttar Prad@h State Highways-Authority AY
Slide 37: Growth Strategy
Growth Strategy Diversification: ◼ Leveraging Strong Project Execution track record to diversify into new functional areas of infrastructure development ◼ Expand presence in development of industrial areas and dedicated Diversification freight corridor projects ◼ Diversify into waste management, wat
Slide 38: 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 Group Account Head +91-9920602034 dkm@pncinfrat