PNC Infratech Limited

Result Update Presentation

Financial Year 2015

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.

PNC Infratech Limited

1
Key Highlights

PNC Infratech Limited

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

Accompanied by significant improvement in margins

Standalone EBITDA Margin up from 12.3% to 13.9%, PAT margin from 6.1% to 6.5%
Consolidated EBITDA Margin up from 12.9% to 15.0%, PAT margin from 4.1% to 4.9%

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

Outstanding order book at Rs. 3,447 crore as of May 31, 2015

Declared L1 for project of re-surfacing/ strengthening of runway at Air Force
Station, Kanpur, for total contract cost of Rs.167.25 crores
PNC Infratech Limited

2
Financial Highlights

PNC Infratech Limited

Financial Highlights - Standalone

Revenue

EBITDA and PAT

(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

EBITDA and PAT Margins

PAT

Debt/ Equity
13.9%

12.3%

12.3%

5.9%

6.1%

6.5%

FY13

FY14

FY15

EBITDA %

PNC Infratech Limited

FY15

0.5
0.4
0.3

FY13

FY14

FY15

PAT %

Financial Highlights - Consolidated

Revenue

EBITDA and PAT

(Rs. Cr)

(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

EBITDA and PAT Margins

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

PNC Infratech Limited

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

BOT (Toll/ Annuity)

BOT (Toll/ Annuity)

EBIT Margin
22.0%
16.7%

10.1%

9.1%

EPC

BOT (Toll/ Annuity)

FY14
PNC Infratech Limited

FY15

3
Order-book Snapshot

PNC Infratech Limited

Robust Order-book of Rs. 7,850 crore

In terms of value of contracts including
escalation (Rs. Crores)

Order-book Highlights
Remaining value of contracts under execution is
Rs. 3,447 crore as on 31st March 2015.

March 31, 2013

March 31, 2014

5,568

Declared as Lowest Bidder for a Project of

Resurfacing /Strengthening of Runway at Air
Force Station, Kanpur at a quoted price of Rs.
167.25 crore

6,086
Roads EPC
97%

March 31, 2015

7,850
Others
0%

Airport
Runways
2%

Power T&D
1%

Roads EPC

PNC Infratech Limited

Airport Runways

Power T&D

Others

10

Order Book Highlights

Key EPC Projects Under Construction

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

Total Order Book

3,447

Top 5 projects as % to Total Order Book

79%

PNC Infratech Limited

11

4
BOT Portfolio

PNC Infratech Limited

12

Sizeable BOT Portfolio

PNC Infratech Limited (PNC)
%
Stake

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

Rae Bareli Jaunpur

100.0%

NHAI

UP

NH-231

Annuity

NA

166.40

139.6

139.6

Narela Industrial Area

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

PNC Infratech Limited

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

13

5
Project Status

PNC Infratech Limited

14

Status of BOT Projects under Construction as on May 31, 2015

Projects

Status

Bareilly Almora

~84.74% Construction completed

Rae Bareli Jaunpur

~74.82% Construction completed

Bareilly Almora

Add Photograph if possible

PNC Infratech Limited

Rae Bareli Jaunpur

Add Photograph if possible

15

6
Annexure I Summary Financials

PNC Infratech Limited

16

Quarterly Profitability Statement*

Rs. Crores

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

Profit After Tax

33

29

7.1%

7.1%

43

38

EBITDA margin

PAT Margin

Cash Profit
PNC Infratech Limited

* - Standalone

17

Annual Profitability Statement

Rs. Crores

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

Profit After Tax

100

70

91

51

6.5%

6.1%

4.9%

3.7%

PAT after MI & Asso. Profit

100

70

91

55

Cash Profit

137

95

151

91

REVENUE
EBITDA
EBITDA margin

PAT Margin
Less: Minority Int. Profit / (Loss)

PNC Infratech Limited

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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

PNC Infratech Limited

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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

Large fleet of sophisticated equipment and

professionally qualified & experienced employee base

Developing/operating 7 BOT projects and 1 OMT

project, comprising of both toll & annuity assets

Established track record of timely/early completion of projects

PNC Infratech Limited

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Business Overview
Completed 26 infrastructure
road projects on EPC basis

Set up power transmission

lines of approximately 350
km of 132/220 kilovolt lines
on a turn-key basis

Roads &
Highways EPC

Power
Transmission

First of its kind Annuity Project for

area redevelopment and
management of the Industrial Estate
of Narela, New Delhi; awarded by
Delhi State Industrial &
Infrastructure Development
Corporation (DSIIDC)
PNC Infratech Limited

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

Executed 18 airport runway

projects across India &
received Super Special
class certification by
Military Engineering
Services

Design, procurement and

construction of track and track
related works on Mughalsarai Sonnagar section of Dedicated
Eastern Freight Corridor
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Corporate Structure

PNC Infra Holdings Limited (PNCIHL)

BOT Holdco for road and other infra projects

PNC Power Private Limited (PNCPPL)

Engaged in erecting, installing, repairing, re-modelling power

plants etc

PNC Bareilly Nainital Highways Private Limited (PNCBNHPL)

4 laning of the Bareilly-Almora section of SH 37

MP Highways Private Limited (MPHPL)

Augmentation of the GwaliorBhind section of NH 92

PNC Delhi Industrial Infra Private Limited (PNCDIPL)

Redevelopment maintenance and management of industrial estate

of Narela

PNC Kanpur Highways Limited (PNCKHL)

2 laning of the Kanpur to Kabrai section of NH 86

PNC Raebareli Highways Private Limited (PNCRHPL)

2 laning of Raebareli to Jaunpur section of NH 231

PNC Kanpur Ayodhya Tollways Private Limited (PNCKATPL)

Ferrovia Transrail Solutions Private Limited (FTSPL)

Designing, procurement & construction for track & track

related work on the Mughalsarai-Sonnagar section

Hospet Bellary Highways Private Limited (HBHPL)

4 laning project of Hospet-Bellary section of NH 63 (has been

discontinued)

Joint Ventures
Ghaziabad Aligarh Expressway Private Limited (GAEPL)

4 laning of Ghaziabad to Aligarh section of NH 91

Jaora Nayagaon Toll Road Company Private Limited
(JNTRCPL)

4 laning of Jaora Nayagaon section of SH 31

OMT of Kanpur-Lucknow section OF NH 28

PNC Infratech Limited

23

Evolution - Timeline
2015
2013 &
2014

Successful IPO and listing on NSE and BSE

1st OMT project awarded Kanpur -Lucknow Ayodhya Road project

Awarded Agra-Firozabad contract for Rs. 1,635.75 crs

2010 &
Awarded 1st independent road project on BOT basis
2011

NYLIM Jacob Ballas India Fund invested Rs. 150 Crores

2008
2005
2001
1999

Diversified into business of setting up power

transmission lines on a turn-key basis

Executed 1st international airport runway

project for AAI at Kolkata

Received Super Special class certification from MES

Executed 1st project with NHAI (4-laning of the AgraGwalior Section)

Incorporated as PNC Construction Company

Private Limited

PNC Infratech Limited

24

Board of Directors

Mr. Pradeep Kumar Jain

CMD

Mr. Naveen Kumar Jain

Whole-time Director

Mr. Anil Kumar Rao

Whole-time Director

Mr. Sunil Chawla

Non-Executive Director

Mr. Dharam Veer Sharma

Independent Director

PNC Infratech Limited

Mr. Ashok Kumar Gupta

Independent Director

Mr. Chakresh Kumar Jain

Managing Director

Mr. Chhotu Ram Sharma

Independent Director

Mr. Rakesh Kumar Gupta

Independent Director

Mr. Yogesh Kumar Jain

Managing Director

Mr. Subhash Chander Kalia

Independent Director

Ms. Deepika Mittal

Independent Director
25

Clientele

PNC Infratech Limited

26

For further information, please contact:

Company :

Investor Relations Advisors :

PNC Infratech Ltd

CIN: U45201DL1999PLC195937

Strategic Growth Advisors Pvt. Ltd.

CIN: U74140MH2010PTC204285

Mr. D. K. Maheshwari
AVP Finance
dkm@pncinfratech.com
+91-9639018676

Mr. Jigar Kavaiya

Group Account Head
+91-9920602034

www.pncinfratech.com

kjigar@sgapl.net
www.sgapl.net

PNC Infratech Limited

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