Sadbhav Engineering Limited · NSE:SADBHAV
Sadbhav Engineering — Investor Presentation (August 2017)
32 slides from Sadbhav Engineering's investor presentation, August 2017
Slide 1: Sadbhav group Corporate Presentation
Sadbhav group Corporate Presentation August 2017
Slide 2: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”),which have been prepared by Sadbhav Group (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and s
Slide 3: Agenda
Agenda 1. Sadbhav group Snapshot 4 2. Business Overview – Sadbhav Engineering Limited (SEL) 11 3. BOT Holding Co.- Sadbhav Infrastructure Project Limited (SIPL) 18 4. Financials 28 3
Slide 4: Sadbhav group Snapshot
Sadbhav group Snapshot
Slide 5: Corporate Structure
Corporate Structure Sadbhav Engineering Limited 68.64% EPC Business Sadbhav Infrastructure Project Limited (SIPL) BOT Project Portfolio SIPL SEL J.V 1 Ahmedabad Ring Road Infrastructure Limited (ARRIL) 100.0% 0.0% 0.0% 2 Aurangabad Jalna Tollway Limited (AJTL) 100.0% 0.0% 0.0% 3 Nagpur Seoni Express
Slide 6: SEL - Snapshot
SEL - Snapshot Sadbhav Engineering Limited (SEL), incorporated in 1988, is engaged in o Engineering, Procurement and Construction (EPC) business for Transport, Mining and Irrigation sector o Development of roads & highways on Build, Operate and Transfer (BOT) through Sadbhav Infrastructure Project
Slide 7: SIPL - Snapshot
SIPL - Snapshot Only listed Road & Highways BOT company in India with a portfolio of 11 BOT projects and 7 Hybrid Annuity projects Promoted by Sadbhav Engineering Limited (SEL) in 2007 to operate Road BOT projects for Sadbhav Group Owns a project portfolio consisting of ten operational BOT proje
Slide 8: SEL - Shareholding Pattern
SEL - Shareholding Pattern Shareholding Pattern as on 30th June 2017 Strong Institutional Presence Category No. of shares % Promoter Group 80,234,880 46.76% Public Shareholding 91,335,920 53.24% Institutions 74,687,534 43.53% - Mutual Funds / UTI 43,358,128 25.27% - Financial Inst. / Banks 41,185 0.
Slide 9: SIPL - Shareholding Pattern
SIPL - Shareholding Pattern Shareholding Pattern as on 30th June, 2017 Strong Institutional Presence Category No. of shares % holding Promoter Group 244,030,911 69.28% Public Shareholding 108,194,305 30.72% Institutions 40,255,551 11.43% DIIs 18,002,398 5.11% FIIs 22,253,153 6.32% Non-Institutions 6
Slide 10: Sadbhav group - Growth Story
Sadbhav group - Growth Story CAGR 2006-17 Net Revenue ~ 25% Net Profit ~ 27% Mar 2017 Order book ~ 17% Net Revenue Rs 33,203mn Net Profit Rs 1,878mn Net worth Rs 16,608 mn Mar 2010 Gross Block Rs 9,913 mn Net Revenue Rs 12,569 mn Order Book Rs 76,834 mn Net Profit Rs 538 mn At the time of IPO - Mar
Slide 11: Business Overview - Sadbhav Engineering Limited (SEL)
Business Overview - Sadbhav Engineering Limited (SEL)
Slide 12: SEL - EPC Business: Transport
SEL - EPC Business Order book Transport Transport projects with a balance work order of Rs 57,863 mn (excluding L1 of Rs. 9,000 mn) as on June 30, 2017 which translates to 2.3 x of FY17 Transport revenue Captive order book of Rs 46,053 mn & non captive order book of Rs 11,810 mn as on June 30, 2
Slide 13: SEL - EPC Business: Irrigation
SEL - EPC Business Order book Irrigation Irrigation projects with a balance work order of Rs 9,118 mn as on June 30, 2017 which translates to 2.0x of FY17 Irrigation revenue Major Projects Ongoing • 'Bhauti high level canal, M.P • Omkareshwar right bank lift canal, M.P • Kachchh branch canal Adipu
Slide 14: SEL - EPC Business: Mining
SEL - EPC Business Order book Mining Mining projects with a balance work order of Rs 16,792 mn as on June 30, 2017 which translates to 5.3x of FY17 Mining revenue Major Projects Ongoing • Excavation work at Pit B of Jalipa Lignite Mines Barmer, Rajasthan • Excavation work at Mangrol lignite mines,
Slide 15: Order Book
Order Book Order book to sales ratio stands at 2.5x FY17 revenue providing good revenue visibility (Rs mn) 2.8x 5.6x 3.8x 2.8x 2.4x 2.3x 2.5x 101,426 89,407 82,000 83,774 75,542 74,873 76,834 Captive 45% Non Captive 55% FY12 FY13 FY14 FY15 FY16 FY17 Q1FY18 Order Book to Sales Ratio Segment wise Orde
Slide 16: SEL - Key Management Personnel
SEL - Key Management Personnel Board of Directors Mr. Vishnubhai M Patel Mr. Shashin V Patel Mr. Nitin R Patel (Chairman Emeritus) (Chairman and Managing (CFO & Whole time Director) Director) Mr. Vasistha C Patel Mr. Vipul H Patel Mr. Vikram R Patel (Whole time Director) (Whole time Director) (Whole
Slide 17: SEL – Order book breakup as on 30.06.17
SEL – Order book breakup as on 30.06.17 States – Rs mn Transport – BOT Transport – EPC Irrigation Mining Total Gujarat 10,271.2 257.1 * 2,722.7 1,813.6 15,064.6 Rajasthan 7,450.0 - - 4,125.0 11,575.0 Jharkhand - 10.8 - 9,489.6 9,500.4 Maharashtra 9,145.7 - - 120.7 9,266.4 Karnataka 8,550.0 649.7 - -
Slide 18: BOT Holding Co. - Sadbhav Infrastructure Project Limited (SIPL)
BOT Holding Co. - Sadbhav Infrastructure Project Limited (SIPL)
Slide 19: Portfolio Snapshot
Portfolio Snapshot Portfolio of 18 Roads & Highways BOT projects of which 10 projects are fully operational, 1 project is partially operational and 7 HAM projects are under development No. of Projects No. of Projects As on June 30, 2017 Toll Annuity HAM NHAI State Operational 9 1 0 8 2 Partly Operat
Slide 20: Operating Assets – I
Operating Assets – I Particulars ARRIL AJTL NSEL HYTPL Current Stake 99.99% 99.99% 99.99% 99.99% Project Details Project Type Toll Toll Annuity Toll State Gujarat Maharashtra Maha/MP Telangana Client AUDA Govt. of Maharashtra NHAI NHAI Lane kms 305.4 263.2 110.9 142.6 Concession Start Dec-06 Feb-07
Slide 21: Operating Assets – II
Operating Assets – II Particulars BHTPL RPTPL MBCPNL DPTL Current Stake 76.99% 99.99% 83.60%1 99.99% Project Type Toll Toll Service Fee Toll Project Details State Karnataka Haryana Maharashtra Maharashtra SREI Infra, SREI Sahaj e- JV Partner Monte Carlo Limited N.A N.A village Limited, DTCPL Client
Slide 22: Operating Assets – III
Operating Assets – III Particulars SUTPL BRTPL RHTPL Current Stake 99.99% 99.99% 99.99% Project Type Toll Toll Toll Project Details State Rajasthan Rajasthan Haryana Client NHAI NHAI NHAI Lane kms 317.2 349.0 395.2 Concession Start Apr-13 Oct-13 Dec-13 Original Concession (yrs) 27 Y 30 Y 22 Y PCOD O
Slide 23: HAM projects
7 HAM projects Particulars SRHPL SNHPL SBHPL SUHPL SBGHPL Current Stake 99.99% 99.99% 99.99% 99.99% 99.99% Project Details Project Type (Pavement) HAM (Rigid) HAM (Rigid) HAM (Rigid) HAM (Rigid) HAM (Flexible) State Uttar Pradesh Uttrakhand Gujarat Gujarat Karnataka Client NHAI NHAI NHAI NHAI NHAI L
Slide 24: Projects located in high growth states, on important corridors
P RO JECT S L O CAT ED IN H IG H G RO WT H S T AT ES , O N I MPO RT AN T C O RRIDO RS Presence in high growth states where GDP is greater than average India’s GDP by 50-170 bps thereby ensuring high industrial growth providing sustainable traffic , high willingness to pay & better administration Ind
Slide 25: SIPL - Key Management Personnel
SIPL - Key Management Personnel Board of Directors Mr. Vishnubhai M Patel Mr. Shashin V Patel (Chairman Emeritus) (Chairman & Non-Executive Director) Mr. Vasistha C Patel Mr. Nitin R Patel (Managing Director) (Non-Independent & Non-Executive Director) Mr. Sandip V Patel, Mr. Mirat N Bhadlawala, Mr.
Slide 26: Bidding Updates and Upcoming Project Pipeline
Bidding Updates and Upcoming Project Pipeline Details of bids submission by SIPL in last 1 year BOT (Toll) HAM No. Length (in km) Rs mn No. of bidders No. Length (in km) Rs mn No. of bidders Q4FY16 - - - - 7 272 49,028 4.14 Q1FY17 - - - - 12 832 99,651 7.50 Q2FY17 2 239 24,839 4 3 231 29,758 8.00 Q3
Slide 27: Details related to Cash profitability
Details related to Cash profitability Details related to cash profitability at SPVs (INR mn) Quarter H2FY16 FY17 Q1FY18 Total Income from Operations + Other Income 4,090.19 10,128.60 2,569.29 Less: Recurring cash expenses 728.48 1,671.09 400.10 Total Cash EBITDA 3,361.71 8,457.51 2,169.16 Cash EBITD
Slide 28: Financials
Financials
Slide 29: SEL - Standalone Financials
SEL - Standalone Financials Balance Sheet (Rs mn) FY17 FY16 FY15 FY14 Income Statement (Rs mn) FY17 FY16 FY15 FY14 Share Capital 171.5 171.5 171.5 151.7 Income from Operations 33,203.1 31,862.5 29,698.5 23,581.2 Money recd. against Share Warrants - - - 231.5 Expenditure 29,647.0 28,514.7 26,696.1 21
Slide 30: SIPL - Standalone Financials
SIPL - Standalone Financials Balance Sheet (INR mn) FY17 FY16 FY15 FY14 Income Statement (INR mn) FY17 FY16 FY15 FY14 Share Capital 3,522.3 3,522.3 3,109.6 282.6 Income from Operations 2,854.4 858.0 701.1 911.8 Reserves & Surplus 9,905.0 9,441.3 5,326.3 8,036.0 Other Income 282.6 405.6 372.0 246.6 N
Slide 31: SIPL - Consolidated Financials
SIPL - Consolidated Financials Balance Sheet (INR mn) FY17 FY16 FY15 FY14 Income Statement (INR mn) FY17 FY16 FY15 FY14 Share Capital 3,522.3 3,522.3 3,109.6 282.6 Income from Operations 13,480.1 19,709.7 5,003.0 3,744.0 Reserves & Surplus (2,805.8) 1,032.1 4,699.5 8,265.9 Other Income 558.8 387.5 2
Slide 32: Thank You
Thank You
Sadbhav Engineering — Investor Presentation (August 2017) on 6ix