Investor Update (Company Update)
Investor Update (Company Update)
Investor Update (Company Update)
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 securities, and shall not form the basis or be relied on in connection with any
contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a
statutory offering document containing detailed information about the Company.
This Presentation has been prepared by the Company based on information and data which the Company considers
reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be
placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This
Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any
liability in respect of the contents of, or any omission from, this Presentation is expressly excluded.
This presentation contains certain forward looking statements concerning the Companys future business prospects and
business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ
from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are
not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both
domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled
professionals, time and cost over runs on contracts, our ability to manage our international operations, government
policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The company does not
undertake to make any announcement in case any of these forward looking statements become materially incorrect in
future or update any forward looking statements made from time to time by or on behalf of the company.
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Key Highlights
Key Highlights
Robust growth in financials
Standalone Revenue, EBITDA and PAT grew by 35%, 53% and 43% respectively
Consolidated Revenue, EBITDA and PAT grew by 37%, 60% and 65% respectively
Board recommended dividend of Rs. 1.50 per share compared to Rs. 0.75
per share for FY14
Commenced tolling on 2 BOT projects
Tolling commenced from May 7, 2015 on the 100% owned Kanpur-Kabrai project
Tolling commenced from June 25, 2015 on the 35% owned Ghaziabad Aligarh project
2
Financial Highlights
(Rs. Cr)
(Rs. Cr)
1,561.0
216.6
1,303.5
1,152.1
159.9
141.9
100.4
76.5
FY13
FY14
FY15
FY13
70.1
FY14
EBITDA
PAT
Debt/ Equity
13.9%
12.3%
12.3%
5.9%
6.1%
6.5%
FY13
FY14
FY15
EBITDA %
FY15
0.5
0.4
0.3
FY13
FY14
FY15
PAT %
(Rs. Cr)
1,860.9
279.9
1,305.6
1,360.0
175.4
156.3
91.3
74.6
FY13
FY14
FY15
FY13
55.2
FY14
EBITDA
FY15
PAT
Debt/
Equity
Debt/ Equity
15.0%
12.0%
1.9
12.9%
1.4
1.0
5.7%
4.9%
4.1%
FY13
FY14
EBITDA %
FY15
FY13
FY14
FY15
PAT %
Segmental highlights
Revenue Breakup
(Rs. Cr)
(Rs. Cr)
FY14
FY15
149.9
260.9
1,600.0
1,210.1
EPC
EPC
EBIT Margin
22.0%
16.7%
10.1%
9.1%
EPC
FY14
PNC Infratech Limited
FY15
3
Order-book Snapshot
Order-book Highlights
Remaining value of contracts under execution is
Rs. 3,447 crore as on 31st March 2015.
5,568
6,086
Roads EPC
97%
7,850
Others
0%
Airport
Runways
2%
Power T&D
1%
Roads EPC
Airport Runways
Power T&D
Others
10
Agra-Firozabad
Remaining Value
(Rs. Crores)
1,635
Sonauli-Gorakhpur
439
Barabanki-Jarwal
265
Raibareli to Jaunpur
222
Agra By-Pass
147
Top 5 projects
2,708
Other Projects
739
3,447
79%
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4
BOT Portfolio
12
Authority
State
Stretch
Type
JV
Partners
COD/
PCOD
Kms
Lanes
Invested
Equity
(Rs.
Crores))
Crores
PNC
Share of
Invested
Equity
(Rs.
Crores))
Crores
Ghaziabad Aligarh
35.0%
NHAI
UP
NH-91
Toll
SREI,
Galfar
June-15
125
194.0
67.9
Kanpur Kabrai
100.0%
NHAI
UP
NH-86
Toll
May-15
123
67.5
67.5
Gwalior Bhind
100.0%
MPRDC
MP
NH-92
Toll
Jan-13
107.68
78.3
78.3
Bareilly Almora
100.0%
UPSHA
UP
SH-37
Toll
NA
54
74.6
74.6
Jaora Nayagaon
8.51%
MPRDC
MP
SH-31
Toll
SREI, SPML,
ACL, IFCI
Feb-12
127.81
287.0
24.4
100.0%
NHAI
UP
NH-231
Annuity
NA
166.40
139.6
139.6
100.0%
DSIIDC
Delhi
NA
Annuity
Oct-13
33
NA
35.0
35.0
Kanpur Ayodhya
100.0%
NHAI
UP
NH-28
OMT
Aug-13
217
0.1
0.1
876.0
487.3
Operational
Under-construction
Notes:
a) Equity Invested as on June 25th 2015
b) Equity stake in each asset is held directly or indirectly through its wholly owned subsidiary, PNC Infra Holdings Limited
c) MPRDC: Madhya Pradesh Road Development Corporation Limited; UPSHA: Uttar Pradesh State Highways Authority
DSIIDC: Delhi State Industrial & Infrastructure Development Corporation; SPML: Subhash Project Marketing Limited;
ACL: Ashoka Concesssions Limited
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5
Project Status
14
Status
Bareilly Almora
Bareilly Almora
15
6
Annexure I Summary Financials
16
Q4 FY15
Q4 FY14
REVENUE
464
414
EBITDA
61
53
13.2%
12.8%
Other Income
Depreciation
11
Interest
11
PBT
47
43
Tax
14
13
33
29
7.1%
7.1%
43
38
EBITDA margin
PAT Margin
Cash Profit
PNC Infratech Limited
* - Standalone
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Standalone
Consolidated
FY15
FY14
FY15
FY14
1,561
1,152
1,861
1,360
217
142
280
175
13.9%
12.3%
15.0%
12.9%
Other Income
14
11
12
11
Depreciation
36
25
60
40
Interest
46
23
93
61
PBT
148
104
139
85
Tax
47
34
48
35
100
70
91
51
6.5%
6.1%
4.9%
3.7%
100
70
91
55
Cash Profit
137
95
151
91
REVENUE
EBITDA
EBITDA margin
PAT Margin
Less: Minority Int. Profit / (Loss)
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Balance Sheet
Standalone
Rs. Crores
Share capital
Reserves & Surplus
Shareholders Fund
Minority Interest
Non-current liabilities
Long term borrowings
Other non-current liabilities
Current liabilities
Short term borrowings
Trade Payables
Other current liabilities
TOTAL EQUITIES & LIABILITIES
Non-current assets
Fixed assets
Non-Current Investments
Other Non-current assets
Current Investment
Inventories
Trade receivables
Cash and bank balances
Other current assets
TOTAL ASSETS
Current assets
Consolidated
March-15
718
40
679
-274
24
250
585
300
108
177
1,578
March-14
629
40
589
-209
29
180
442
219
70
153
1,280
March-15
871
40
831
0
1,566
1,307
260
660
328
111
221
3,097
March-14
710
40
670
0
849
743
106
462
243
87
131
2,021
752
217
424
111
826
0
223
367
21
216
1,578
604
154
351
98
676
0
105
344
100
128
1,280
2,385
2,166
93
126
713
1
223
264
41
184
3,097
1,438
1,241
92
105
582
13
105
192
116
157
2,021
Strong credit rating of CARE A for Long Term and CARE A1 for short-term loans
PNC Infratech Limited
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7
Annexure II Company Overview
20
Introduction
infrastructure construction, development and management company; expertise in
execution of projects including highways, bridges, flyovers, airport
runways, industrial areas and transmission lines
Executed 42 major infrastructure projects spread across
13 states of which 26 are road EPC projects; currently
executing 23 projects across sectors
21
Business Overview
Completed 26 infrastructure
road projects on EPC basis
Roads &
Highways EPC
Power
Transmission
Industrial
Area
Development
Roads &
Highways BOT / OMT
Airport
Runways
Dedicated
Rail Freight
Corridor
Developing/operating 7
BOT projects and 1 OMT
project, comprising of both
toll & annuity assets
Corporate Structure
Joint Ventures
Ghaziabad Aligarh Expressway Private Limited (GAEPL)
23
Evolution - Timeline
2015
2013 &
2014
2010 &
Awarded 1st independent road project on BOT basis
2011
2008
2005
2001
1999
24
Board of Directors
Clientele
26
Mr. D. K. Maheshwari
AVP Finance
dkm@pncinfratech.com
+91-9639018676
www.pncinfratech.com
kjigar@sgapl.net
www.sgapl.net
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