GPT Infraprojects Limited Corporate Presentation February 2017
Safe Harbor • This presentation and the accompanying slides (the “Presentation”), which have been prepared by GPT Infraprojects 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 contractor 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 • Certain matters discussed in this Presentation may contain statements regarding the Company‟s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy and of the economies of various international markets, the performance of the industry in India and world-wide, competition, the company‟s ability to successfully implement its strategy, the Company‟s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company‟s market preferences and its exposure to market risks, as well as other risks. The Company‟s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections 2
Q3/9M FY17 Highlights
Snapshot of 9M FY17 2 % 24 % 12 % Revenue EBITDA Profit After Tax Rs 3,641 million Rs 525 million Rs 111 million 1.26 x 121 days 30 bps Debt/Equity Working Capital PAT Margin From 1.43x in March „16 From 152 days in March „16 3.1% 4
Consolidated financial highlights – Q3/9M FY17 Rs Million Q3 '17 Q3 '16 YoY% 9M '17 9M '16 YoY% Segmental revenue break-up: Q3FY17 Revenue 1,061.5 1,231.6 -13.8% 3,627.9 3,248.5 11.7% Concrete Sleeper, Other Operating Income 9.0 1.3 583.1% 13.2 4.5 193.5% 14.3% Net Sales 1,070.5 1,232.9 -13.2% 3,641.1 3,253.0 11.9% Operating expenses 917.2 1,024.5 -10.5% 3,116.5 2,718.2 14.7% EBITDA 153.3 208.5 -26.5% 524.6 534.8 -1.9% Infrastructure, EBITDA margin 14.3% 16.9% 14.4% 16.4% 85.7% Depreciation 44.6 56.5 -21.0% 140.1 162.2 -13.6% Other Income 23.3 8.3 179.5% 42.4 41.8 1.4% Segmental revenue break-up: 9MFY17 Interest 93.8 110.3 -15.0% 276.5 293.9 -5.9% PBT 38.1 50.0 -23.7% 150.5 120.5 24.8% Concrete Sleeper, 14.6% Tax Expenses (Credits) 8.0 15.5 -48.6% 35.7 25.6 39.6% PAT 30.2 34.5 -12.5% 114.7 94.9 20.8% Minorities 0.0 -0.8 3.4 5.4 -36.4% PAT after Minorities 30.2 35.3 -14.5% 111.3 89.6 24.3% Infrastructure, 85.4% PAT Margin 2.8% 2.9% 3.1% 2.8% 5
Reduction of 111 days in working capital over last 18 months Improvement in Working Capital Days Working Capital Mar '15 Mar '16 Dec’16 Debtor Days 81 60 51 250 232 Other Current Assets 192 151 122 Inventory 81 53 50 200 Creditors 115 94 81 152 Interest Free Mob Advance 7 17 20 150 121 Net Working Capital Days 232 152 121 100 Better and faster payments from clients 50 Consistent follow-up to reduce certification time for the project 0 Higher order execution Mar '15 Mar '16 Dec '16 6
~Rs 6,394 million of orders received in FY17 till date… Value Order Inflow (Rs Mn) Segment Project Client (Rs Mn) Infrastructure – Construction of steel girder bridges in Rail Vikas Nigam Ltd 2,173 10,000 Steel Bridge Mathura-Jhansi third line 8,813 Infrastructure – Residual work for earthwork and Eastern Railway 325.3 Steel Bridge construction major bridge 8,000 Infrastructure – Sambalpur-Bamur execution of major 6,394 East Coast Railway 333.8 Road Bridges bridge 6,000 Infrastructure – Construction of New Yamuna bridge, Northern Railway 993.7 Steel Bridge including RUB 4,000 Concrete Sleeper Manufacture and supply of PSC sleeper Indian Railways 305.3 3,540 2,671 Infrastructure – Rehabilitation of landside location at P.W (Roads) 839.9 Road Bridges Tindharia, Darjeeling Directorate 2,000 Infrastructure – Construction of major bridges over Rail Vikas Nigam Ltd 733.6 Steel Bridge Subarnarekha and Kharkai rivers Infrastructure Misc. orders in infrastructure 592.2 0 FY14 FY15 FY16 FY17* Concrete Sleeper Misc. orders in concrete sleeper 96.9 *Till date Total 6,393.8 7
…Leading to healthy order book of Rs 18.6 billion Order Book Breakup 4% 7% 11% 8% Concrete 16% Sleeper 46% 21% 5% 4% Infrastructure 79% 35% 64% Industrial Railway Tracks West Bengal Uttar Pradesh Bangladesh Roads, Bridges and Highways Steel Bridges Sri Lanka South Africa Namibia 8
Business Overview
GPT Infra - Railway focused infrastructure company Company overview Incorporated in 1980, GPT Infraprojects Limited is a fast-growing civil construction and manufacturing company based out of Kolkata Employee strength of more than 1,000 including 119 engineers GPT‟s businesses are divided into two segments: » Infrastructure : Involved in civil infrastructure projects for Railways, Roads, Airports, and Urban Infrastructure » Concrete Sleepers: Involved in manufacture of concrete sleepers for railways systems in India and abroad For FY 2016, GPT recorded revenues from operation of Rs 5,028 mn GPT has orders under execution of more than Rs 18.6 bn GPT‟s statutory auditor is S R Baltiboi & Co., Member firm of Ernst & Young Shareholding pattern as on December 31, 2016 Financial highlights Rs 5,028 mn FY16 Revenue Promoter & Promoter Public Rs 680 mn Group, FY16 EBITDA Institution, 74.77% 10.32% Rs 128 mn FY16 PAT Rs 18.6 bn Current Order Book Nine Rivers Capital, 14.91% 10
Key milestones PE investment by Nine Shares listed on BSE Rivers Capital Limited Shares listed on NSE Production capacity at Ladysmith doubled Awarded Best Infrastructure Brand from Bagged order worth The Economic Times Rs 2,465 mn from Received Entered into GMR Infrastructure Certificate of partnership with Excellence in from Namibian IES Government for setting sleeper plant in Namibia 2010 2011 2014 2015 2016 1980 1999 2004 2006 2009 Commercial production begins in South Africa Won a concrete sleeper order from Incorporated First foreign venture with Entry into infrastructure activities Mozambique Bangladesh Railways Emerging India Award from CNBC, ICICI Bank, & CRISIL 11
Experienced management with strong industry background Shree Gopal Tantia Atul Tantia Arun Kumar Dokania Dwarika Prasad Tantia Vaibhav Tantia Chief Financial Officer Managing Director Executive Director Chairman Director & COO • • • 45 years experience in the 35 years experience in Graduated Summa Cum • • Graduated Magna Cum B. Com, FCA with over 35 infrastructure sector infrastructure Laude from Wharton School in Laude from Wharton School in years experience in the Finance and Civil Engineering Finance and Systems infrastructure industry • • Leads the Company's growth Possesses strong project Engineering initiatives execution capabilities and • Overlooks the EPC business • Seasoned finance professional manages the company‟s including project • Leads the company‟s responsible for finance, • Responsible for the diversified customer management, business manufacturing operations, accounts, banking and legal Company‟s entry in the relationship development, and new manages relationship with matters sleeper business and its ventures banks and financial institutions international foray • Hony. Consul of Ghana in Kolkata 12
Business Segments Infrastructure Segment Concrete Sleeper Segment 13
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