Investors Presentation December 2019 Page 1 Contents Executive - PowerPoint PPT Presentation

Construction of Permanent Piles by Jack up Bangalore Metro at Udangudi Project RK Puram Station Construction Investors Presentation December 2019 Page 1

Contents Executive Summary Corporate Profile & Shareholding Structure Corporate Vision & Mission Corporate Structure Parent Profile Financial Performance Order Book Analysis Operations & Management Page 2

Executive Summary NAME ITD Cementation India Limited (“ ITD Cem ”) INDUSTRY GROUP Infrastructure Urban Infra/MRTS, Marine structures, BUSINESS AREAS Hydro/Tunnels/Irrigation projects, Airports, Highways/Bridges & Flyovers, Water & waste water, Industrial structures/Buildings, Specialist foundation engineering INR 750 million AUTHORISED CAPITAL AUDITORS Walker Chandiok & Co LLP SHARE PRICE (1 year) High: INR 143 Low: INR 35 171,787,584 NUMBER OF SHARES INR 10,943 million @ INR 63.7/share (as on 10 th February 2020) MARKET CAPITALIZATION Page 3

Company Profile & Shareholding Structure Ownership Details: Italian-Thai Development Company Limited As on 31 December 2019 (“ITD”), the Promoter of the Company, holds 46.64% in ITD Cem. Public 19.93%, Promoters 46.64%  Engaged in the business areas of Urban Infra/MRTS, Marine Bodies Structures, Hydro/Tunnel/Irrigation projects, Airports, Corporate Highways/Bridges & Flyovers, Water & Waste Water 1.31% segment, Industrial Structures/Buildings and Specialist Foundation & Engineering projects.  Order book of INR 126,601 million as on December 31, 2019 executable over a period of approximately 34 months.  Construction company with a sustained presence in India with MNC parentage over 8 decades.  Pedigree of strong management systems and strong recall among clients. Total  Employee strength 2,099 people. institutions  MNC construction company which is listed on Indian Stock 32.12% Exchanges with a market capitalization of INR 10,943 million (as on 10 th February 2020). Page 4

Vision & Mission • Our aim is a satisfied client, a strong and Vision proactive workforce and quality product finished on time and to budget • To make ITD Cem the country’s leading Mission construction Company in customer choice, quality and safety Page 5

Corporate Structure ITD Cementation India Limited Engaged in projects of urban Infra/MRTS, marine structures, hydro / tunnel / irrigation projects, airports, highways / bridges & flyovers, water & waste water segment, industrial structures/buildings and specialist foundation engineering projects 80% 49% 40% 95% 100% 60% ITD ITD-ITD Cem JV ITD Cem ITD ITD-ITD Cem CEC-ITD Cem- Cementation (Consortium of ITD- Maytas Cemindia JV JV TPL JV Projects India Ltd. ITD Cementation) Consortium Subsidiary Construction of Construction of Construction of Design and Design and road projects, MRTS and integrated execution of construction of Water supply & Water projects passenger terminal water conveyor underground MRTS building at Netaji system section Subash Chandra including 3 Bose International underground airport stations for Mumbai Metro Page 6

Joint Ventures ITD-ITDCem JV ITD Cem (Consortium ITD CEC-ITD ITD-ITDCem JV Maytas of ITD-ITD Cemindia JV Cem-TPL JV Consortium Cementation) Shareholders ITD Cem – 49% ITD Cem – 40% ITD Cem – 95% ITD Cem – 80% CEC – 40% ITD ITD (Thailand) – 51% ITD (Thailand) – 60% Maytas–5% ITD (Thailand) – Cem – 40% , TPL 20% - 20%  Supply and installation of track  Construction  Investigation,  Rehabilitation  Key projects of Design and work for Bangalore Metro – work integrated Design and and construction of virtually completed passenger terminal execution of water Refurbishment of underground building at Netaji conveyor system Water Works at section including  3 under ground stations and Subhas Chandra consisting of lined Palta and Garden 3 underground tunnels for Kolkata Metro Bose International gravity canal, CM Reach.(KEIIP), stations for  Design and construction of Airport in Kolkata & CD works Kolkata Mumbai Metro elevated viaduct and 8 elevated tunnels with Rail Corporation stations under Delhi MRTS Project  4 Nos. projects carrying capacity Limited for DMRCL (CC26) of 87.21 cumecs - from Thipparam Construction of  Design and Construction of Reservoir to elevated Tunnels by Shield TBM under Delhi Gundureddipalli. structures MRTS Project for DMRCL (CC32) for Government of (viaduct &  Laying of Water Trunk Main and Andhra Pradesh stations) for Laying of Sewer Line by Micro Bangalore Metro tunneling Method for Kolkata Rail Corporation Environmental Improvement Ltd. Investment Programme Kolkata  Laying of Trunk Sewer along James Long Sarani, Kolkata by Micro tunneling Method Work in Hand as 4,969 million Nil 7,931 million 8,498 million 15,149 million on Dec 31, 2019 (100%) (INR) Page 7

Industry Position  Leadership position in marine construction, foundation and specialist works and significant presence in MRTS, Hydro / Dams / Tunnels / Irrigation and transportation segments Several quality and safety awards - a reflection of ITD Cem’s  drive towards excellence  One of the few construction companies to conform to ISO standards “ISO 9001:2015, ISO 14001:2015 & OHSAS 18001:2007” for Quality Management Systems, Occupational Health and Safety Management System and Environmental Management System.  Key clientele includes: Government/PSU: DMRC, RVNL, Kolkata Metro Rail  Corporation, SAIL, Bangalore Metro Rail Corporation, NHAI, Mazagaon Dock Ltd., Garden Reach Shipbuilders, Airport Authority of India, Indian Railways, Govt. of Telangana, Rites Ltd., CPWD, Noida, Mumbai Port Trust, Nagpur Metro Rail Corporation, Mumbai Metro Rail Corporation, Ennore Port Ltd, Nuclear Power Corporation, Kolkata High Court, Inland Waterways of India, Tamil Nadu Generation and Distribution Corporation, MMRDA, IRCON, Tangedco Permanent office  Private: Reliance – ADAG group, IHI Corporation, Nhava Sheva Area office Gateway Terminal, Tata Power, PSA (Singapore), DP World, Key Project office Adani Group, China Kun Lun Contracting & Engineering Corporation, Jindal Steel, Samsung, Tata Power, RIL, L&T, Jindal Power, Mundra Port Trust, Gangavaram Port Ltd., Howe Engineering etc. Page 8

International Parent Strength  Italian-Thai Development Company Limited is the largest construction company in Thailand and one of the largest in South East Asia Listed on the stock exchange of Thailand in 1994 with an initial capital base of Baht 2 million  In 1985, ITD received the Royal Seal of Garuda, the highest and most honorable achievement for civilian  companies in Thailand  Net worth INR 37,610 million (Consolidated) as at 30 September 2019  Work in hand (Construction & Concession) INR 6,49,717 million (Construction INR 3,13,839 million) as on 28 th August 2019. Projects with lowest bid / Under negotiation INR 2,88,397 million. Geographic spread includes Bangladesh, Cambodia, Laos, Indonesia, Myanmar, Philippines, Madagascar  and Taiwan other than India providing ITD Cem with international exposure  Provides ITD Cem access to its technologies and know-how as well skilled personnel  Provides the Company with access to international design and engineering organisations * 1 Baht = Rs. 2.27 Page 9

Standalone Financials INR in Millions Yearly Quarterly Revenue from operation Revenue from operation 35,000 5,600 5,400 30,000 5,200 25,000 5,000 20,000 4,800 15,000 4,600 10,000 4,400 5,000 4,200 0 4,000 15M FY14 FY15 FY16 FY17 Dec'18 Mar'19 Jun'19 Sept'19 Dec'19 Mar'19 Revenue 4,543 4,561 5,380 5,279 5,190 Revenue 13,694 27,435 29,174 18,729 22,835 Yearly EBITDA Quarterly EBITDA 3,000 16.0 900 20.0 800 14.0 2,500 700 15.0 12.0 2,000 600 10.0 500 10.0 1,500 8.0 400 6.0 1,000 300 5.0 4.0 200 500 2.0 100 - 0 - 0 15M -100 (5.0) FY14 FY15 FY16 FY17 Mar'19 Dec'18 Mar'19 Jun'19 Sept'19 Dec'19 * EBITDA 1,773 512 2,336 2,651 2,818 EBITDA 792 (37) 653 648 563 (%) 13.1 1.9 8.0 14.2 12.3 (%) 17.4 (0.8) 12.1 12.3 10.9 * After exceptional item Page 10

Standalone Financials INR in Millions Yearly PAT & EPS Quarterly PAT & EPS 900 400 250.0% 6.0 5.0 200.0% 300 600 4.0 150.0% 3.0 200 300 100.0% 2.0 100 1.0 50.0% 0 - 0 0.0% (1.0) -300 -50.0% (2.0) -100 (3.0) -100.0% -600 -200 (4.0) -150.0% -900 (5.0) -300 -200.0% 15M -400 -250.0% FY14 FY15 FY16 FY17 Mar'19 Dec'18 Mar'19 Jun'19 Sept'19 Dec'19 * PAT 194 -593 494 709 807 PAT 303 -348 157 220 88 PAT (%) 1.4 (2.2) 1.7 3.8 3.6 PAT (%) 6.7% -7.6% 2.9% 4.2% 1.7% EPS 1.5 (3.8) 3.3 4.7 4.8 EPS 2.0 (2.1) 1.0 1.3 0.6 * After exceptional item Debt as at Net Worth as at 6,000 1.0 12,000 15.0 0.9 10,000 10.0 0.8 4,500 0.7 8,000 5.0 0.6 3,000 0.5 6,000 - 0.4 4,000 (5.0) 0.3 1,500 0.2 2,000 (10.0) 0.1 0 - 0 (15.0) 15M 9M 15M 9M FY15 FY16 FY17 Mar'19 Dec'19 FY15 FY16 FY17 Mar' Dec' 19 19 Debt 4,884 3,562 4,886 2,203 2,780 Net worth 5,082 5,520 6,173 10,209 10,591 D/E Ratio 0.9 0.6 0.8 0.2 0.3 RoE (%) (11.0) 9.4 12.1 9.9 6.0 Net D/E Ratio 0.7 0.4 0.6 0.2 0.2 Page 11