Pnc Infratech Ltd · NSE:PNCINFRA
Pnc Infratech — H1 FY2018-19 Earnings Presentation
37 slides from Pnc Infratech's earnings presentation, 2018
Slide 1: PNC Infratech Limited Result Update Presentation Q2 & H1 FY 2018-19
PNC Infratech Limited Result Update Presentation Q2 & H1 FY 2018-19
Slide 2: 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 3: Key Highlights & Financials
1 Key Highlights & Financials PNC infratech 3
Slide 4: Key Highlights for Q2 FY19
Key Highlights for Q2 FY19 +108% +88% +111% Revenue EBITDA PAT Rs. 75 crores Rs. 35 crores Rs. 559 crores Margin 13.4% Margin 6.3% Q2 FY19 Q2 FY19 Q2 FY19 Rs. 39 crores Rs. 17 crores Rs. 269 crores Margin 14.8% Margin 6.2% Q2 FY18 Q2 FY18 Q2 FY18 PNC infratech 4
Slide 5: Key Highlights for H1 FY19
Key Highlights for H1 FY19 Over +107% +123% +196% Rs. 6,100 122 days crores Revenue EBITDA PAT Net Working Orderbook Capital • Revenue of Rs. • EBITDA of Rs. 204 • PAT of Rs. 138 • Remaining value • Net Working 1,294 crores in H1 crores in H1 FY19 crores in H1 FY19 of contracts under Capital Days of
Slide 6: 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 7: Status of HAM Projects
Status of HAM Projects Under Construction Document Submitted to NHAI for Financial Closure Jul-16 Mar-17 Nov -17 BPC - Rs. 1,434 Crs BPC - Rs. 881 Crs Financial Closure BPC - Rs. 2,159 Crs 2 laning with paved shoulders of Dausa- Lalsot- 6 laning Chitradurga - Davanagere including in Advance Stage Ka
Slide 8: Order-book Details
2 Order-book Details PNC infratech 8
Slide 9: Robust Order-book of over Rs. 6,100 crores
Robust Order-book of over Rs. 6,100 crores ◼ Remaining value of contracts under execution Rs. 6,119 Remaining crores as on September 30, 2018. The below orders are Key EPC Projects Under Awarding Value not included in orderbook as on September 30, 2018: Construction Authority (Rs. Crores) ✓ Financia
Slide 10: 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 11: Portfolio of Development Projects on PPP Mode
3 PORTFOLIO OF DEVELOPMENT PROJECTS ON PPP MODE PNC infratech 11
Slide 12: 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 30th Sep. ’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 13: 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 30th Sep. ’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 46 46
Slide 14: Annexure I – Summary Financials
4 Annexure I – Summary Financials PNC infratech 14
Slide 15: Standalone Profitability Statement – Q2 & H1
Standalone Profitability Statement – Q2 & H1 YoY Growth YoY Growth Rs. Crores Q2 FY19 Q2 FY18 H1 FY19 H1 FY18 (%) (%) REVENUE 558.64 268.57 108% 1,294.14* 625.22 107% EBITDA 74.60 39.69 88% 204.03 91.65 123% EBITDA margin 13.4% 14.8% -143 bps 15.8% 14.7% 111 bps Other Income 6.08 5.21 23.97 10.71 De
Slide 16: 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 17: Net Working Capital Days
Net Working Capital Days* 136 136 124 129 122 122 122 109 113 108 112 92 86 68 Mar/13 Mar/14 Mar/15 Mar/16 Mar/17 Mar/18 Sep/18 Debtors Net Working Capital * - Standalone PNC infratech 17
Slide 18: 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 19: 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 20: 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 21: 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 22: Annexure II – Company Overview
5 Annexure II – Company Overview PNC infratech 22
Slide 23: Introduction
Introduction Established track record of timely/early completion of projects Infrastructure construction, Executed 60 major development and infrastructure projects management company; spread across 13 states, of expertise in execution of which 38 are road EPC projects including highways, projects; c
Slide 24: Business Overview
Business Overview Completed first of its kind BOT Executed 19 airport annuity project - area runway projects across redevelopment and India & received ‘Super management of Industrial Completed 38 Special’ class Estate of Narela, New Delhi for infrastructure certification from Delhi State Industrial
Slide 25: 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 26: 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 27: 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 28: Enhanced to augment & upgrade the execution
Enhanced to augment & upgrade the execution Rs. Crores - Capex addition 782 725 57 600 125 429 380 171 49 FY15 FY16 FY17 FY18 H1 FY19 Capex over last 3 years will enable us to achieve a Turnover of Rs. 3,500-4,000 crores PNC infratech 28
Slide 29: In-house Equipment Bank
In-house Equipment Bank Name of Machinery OEM Quantity Heavy Duty Vehicles Ashok Leyland, Tata Motors 997 Diesel Generators Cummins/Jackson, Sudhir, Kirloskar, A/L, Greaves, Prakash, Escorts 366 Light Duty Vehicles and Attachments Mahindra, Tata, Farm Trac, John Deere 293 Passenger Vehicles Toyota,
Slide 30: Strengthening of In-house execution team
Strengthening of In-house execution team Current Total Employees: ~8,000 - Employee addition 7,989 5,775 2,214 4,284 3,947 1,491 3,776 337 171 FY15 FY16 FY17 FY18 H1 FY19 Strengthening of In-house execution team with induction of engineers with strong technical knowledge PNC infratech 30
Slide 31: 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 32: 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 ✓ Assigned CARE A-; Stable (Single A upgraded credit rating by 1 notch CARE AA- (Double A Minus) Minus; Outlook: Stable) on lo
Slide 33: 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 34: Board of Directors
Board of Directors Mr. Pradeep Kumar Jain Mr. Chakresh Kumar Jain Mr. Yogesh Kumar Jain CMD Managing Director & CFO Managing Director Mr. Anil Kumar Rao Mr. Chhotu Ram Sharma Mr. Gauri Shankar Whole-time Director Independent Director Additional Non - Executive Independent Director Mr. Ashok Kumar Gu
Slide 35: Clientele
Clientele > psiIpc Jpeida Delhi Stat dystal and Tfastrucure Developmen Upei of) saRTsUAR TAT Aw f =. Uttar Prad@h State Highways-Authority AY
Slide 36: 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 37: 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