Pnc Infratech Ltd · NSE:PNCINFRA
Pnc Infratech — Q4 FY2019 Earnings Presentation
38 slides from Pnc Infratech's earnings presentation, 2019
Slide 1: PNC Infratech Limited Result Update Presentation - Q4 & FY19
PNC Infratech Limited Result Update Presentation - Q4 & FY19
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 Q4 FY19
Key Highlights for Q4 FY19 Q4 FY19 Rs. 140 crores +25% Q4 FY19 Rs. 151 crores +47% Q4 FY19 +54% Q4 FY18 Rs. 1,076 crores Rs. 112 crores Q4 FY18 Rs. 103 crores Q4 FY18 Rs. 701 crores * - Excludes bonus of Rs. 58.23 crores from Q4 FY18 PNC infratech 4
Slide 5: Key Highlights for FY19
Key Highlights for FY19 Rs.12,210 97 +71% +66% +29% crores Days Revenue EBITDA PAT Orderbook Net Working Capital Revenue* of Rs. 3,072 EBITDA* of Rs. 432 PAT of Rs. 325 crores Remaining value of Net Working Capital crores in FY19 as crores in FY19 in FY19 compared to contracts under Days of 97 Days
Slide 6: Key Highlights: Early Completion Bonus
Key Highlights: Early Completion Bonus Agra - Lucknow Raebareli - Jaunpur Aligarh - Moradabad Expressway BOT (Annuity) Project Highway Project ✓ Received Rs. 58.23 crore ✓ Received Rs. 33.73 crore ✓ Received ‘Provisional onus for the early towards the 'Bonus Annuity' Completion Certificate’ (PCC) co
Slide 7: Financial Closure Achieved for all HAM Projects
Financial Closure Achieved for all HAM Projects Financial Closure Achieved for All 7 Projects of which 6 Project are Under Construction Jul-16 Mar-17 Mar-17 Mar-17 BPC - BPC - BPC – BPC - Rs. 881 Crores Rs. 1,434 Crores Rs. 1,310 Crores Rs. 1,410 Crores 2 laning with paved shoulders 6 laning Chitrad
Slide 8: Order-book Details
2 Order-book Details PNC infratech 8
Slide 9: Robust Order-book of over Rs. 12,200 crores
Robust Order-book of over Rs. 12,200 crores Remaining Key EPC Projects Under Awarding Value Construction Authority (Rs. Crores) Nagpur-Mumbai MSRDC 1,999 Expressway Chakeri-Allahabad NHAI 1,866 ◼ Remaining value of contracts under execution of Purvanchal Expressway, Rs. 12,210 crores as on March 31,
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 31st Mar. ’19 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: Asset Monetization Plan
Asset Monetization Plan ◼ Execution of Share Purchase Agreement (SPA) for Divestment of Stake in “Ghaziabad Aligarh Road Project” ✓ Signed SPA for sale of 35% stake (includes 19.88% holding with wholly owned subsidiary of PNC Infratech Ltd.) with Cube Highways and Infrastructure Pte. Ltd. on May 04,
Slide 14: Final Arbitration Award in Narela Industrial Estate Project
Final Arbitration Award in Narela Industiral Estate Project ◼ Realized Rs. 145.63 crore towards the final arbitration award published in its favour of PNC Delhi Industrialinfra Private Limited on 17th May 2019 ✓ PNC Delhi Industrialinfra Private Limited is a wholly owned subsidiary of the Company an
Slide 15: 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 Mar. ’19 Stake Stretch Partners Lanes (Rs. Crs) Amount (Rs. Crs) (Rs. Crs) (Rs. Crs) (Rs. Crs) Raj/ 83.45/ Dausa-Lalsot 100% NHAI Hybrid - 820 59 59
Slide 16: Annexure I – Summary Financials
4 Annexure I – Summary Financials PNC infratech 16
Slide 17: Standalone Profitability Statement – Q4
Standalone Profitability Statement – Q4 Rs. Crores Q4 FY19 Q4 FY18 YoY Growth (%) REVENUE* 1,075.71 700.65 54% EBITDA* 151.18 102.68 47% EBITDA margin* 14.1% 14.7% -60 Bonus 0.00 58.23 Other Income 12.26 6.64 Depreciation 28.22 21.68 Interest 19.40 8.54 Profit Before Tax 115.82 137.34 Total Tax Expe
Slide 18: Standalone Profitability Statement – Full Year
Standalone Profitability Statement – Full Year Rs. Crores FY19 FY18 YoY REVENUE* 3,071.57 1,798.35 71% EBITDA* 432.0 260.60 66% EBITDA margin* 14.1% 14.5% -43 Bonus 25.30 58.23 Other Income 43.04 23.02 Depreciation 92.24 77.20 Interest 64.09 30.72 Profit Before Tax 344.04 233.93 47% Total Tax Expens
Slide 19: Standalone Balance Sheet
Standalone Balance Sheet ASSETS (Rs. Crores) Mar-19 Mar-18 EQUITY AND LIABILITIES (Rs. Crores) Mar-19 Mar-18 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 613.51 404.81 (a) Equity Share capital 51.31 51.31 (b) Capital work-in-progress 6.21 11.14 (b) Other equity 2,063.89 1,755.39 (c)
Slide 20: Net Working Capital Days
Net Working Capital Days* 136 136 124 129 122 122 109 113 112 92 97 86 68 73 Mar/13 Mar/14 Mar/15 Mar/16 Mar/17 Mar/18 Mar/19 Debtors Net Working Capital * - Standalone PNC infratech 20
Slide 21: Consolidated Profitability Statement – Full Year
Consolidated Profitability Statement – Full Year Rs. Crores FY19 FY18 YoY REVENUE* 3,749.1 2,353.16 59% EBITDA* 981.5 710.86 38% EBITDA margin* 26.2% 30.2% -403 Bonus 25.30 58.23 Other Income 46.62 24.35 Depreciation 346.46 261.81 Interest 347.98 309.31 Profit Before Tax 358.98 222.33 61% Total Tax
Slide 22: Segmental Revenue Break-up – Full Year
Segmental Revenue Break-up – Full Year FY18 FY19 606 717 1,747 3,032 EPC* Toll/Annuity EPC* Toll/Annuity * - EPC segment Excludes bonus of Rs. 25.30 crores from Q1 FY19 and Rs. 58.23 crores from Q4 FY18 PNC infratech 22
Slide 23: Consolidated Balance Sheet
Consolidated Balance Sheet ASSETS (Rs. Crores) Mar-19 Mar-18 EQUITY AND LIABILITIES (Rs. Crores) Mar-19 Mar-18 (1) NON-CURRENT ASSETS EQUITY (a) Property, plant & equipment 616.70 409.23 (a) Equity Share capital 51.31 51.31 (b) Capital work-in-progress 6.21 11.14 (b) Other equity 1,973.08 1,637.40 (
Slide 24: Annexure II – Company Overview
5 Annexure II – Company Overview PNC infratech 24
Slide 25: Introduction
Introduction Established track record of timely/early completion of projects Infrastructure construction, Executed 64 major development and infrastructure projects management company; spread across 13 states, of expertise in execution of which 41 are road EPC projects including highways, projects; c
Slide 26: Business Overview
Business Overview Operating 6 BOT & 1 OMT Design, procurement and project, comprising of both construction of track and Set up power toll & annuity assets; Total 7 track related works on transmission lines of HAM projects comprising - 6 Mughalsarai - Sonnagar approximately 350 HAM project under- sec
Slide 27: 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 28: 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 29: 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 30: Enhanced to augment & upgrade the execution
Enhanced to augment & upgrade the execution Rs. Crores - Capex addition 1,016 291 725 600 125 429 380 171 49 FY15 FY16 FY17 FY18 FY19 Capex over last 4 years will enable us to achieve a Turnover of over Rs. 5,000 crores PNC infratech 30
Slide 31: In-house Equipment Bank
In-house Equipment Bank Name of Machinery OEM Quantity Heavy Duty Vehicles Ashok Leyland, Tata Motors 1,178 Diesel Generators Cummins/Jackson, Sudhir, Kirloskar, A/L, Greaves, Prakash, Escorts 469 Light Duty Vehicles and Attachments Mahindra, Tata, Farm Trac, John Deere 399 Passenger Vehicles Toyota
Slide 32: Strengthening of In-house execution team
Strengthening of In-house execution team Current Total Employees: Over 9,000 - Employee addition 9,075 3,300 5,775 4,284 1,491 3,776 3,947 337 171 FY15 FY16 FY17 FY18 FY19 Strengthening of In-house execution team with induction of engineers with strong technical knowledge PNC infratech 32
Slide 33: Strong Credit Rating
Strong Credit Rating Reaffirmed Reaffirmed Assigned ◼ PNC Infratech Ltd. ◼ PNC Khajuraho Highways Pvt. Ltd. ◼ PNC Bundelkhand Highways Pvt. Ltd. ✓ Long term bank facilities stands at ✓ Long term bank facilities at CARE A-; ✓ Assigned CARE A-; Stable (Single A CARE AA- (Double A Minus) Stable (Single
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. Krishan Kumar Jalan (IAS) Mr. Gauri Shankar Mr. Chhotu Ram Sharma Additional Independent Director Independent Director Inde
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 Diversification development ◼ Expand presence in development of industrial areas and dedicated 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