PNC Infratech Limited Investor Presentation May 2016
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 Company’s 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. 2 PNC Infratech Limited
1 Key Highlights & Financials 3 PNC Infratech Limited
Key Financial Highlights – Q4 FY 2015-16 27 % 26 % 369 % Standalone Revenue Standalone EBITDA Standalone PAT Rs. 589 crores Rs. 77 crores Rs. 154 crores Standalone EBITDA Margin Standalone PAT Margin at 13.05% at 26.11% 28 % 47 % 428 % Consolidated Revenue Consolidated EBITDA Consolidated PAT* Rs. 694 crores Rs. 114 crores Rs. 148 crores Consolidated EBITDA Margin Consolidated PAT Margin at 16.35% at 21.30% * - After MI & share in profit/ loss of associate cos. 4 PNC Infratech Limited
Key Financial Highlights – FY 2015-16 29 % 23 % 142 % Standalone Revenue Standalone EBITDA Standalone PAT Rs. 2,014 crores Rs. 266 crores Rs. 243 crores Standalone EBITDA Margin Standalone PAT Margin at 13.20% at 12.05% 29 % 46 % 137 % Consolidated Revenue Consolidated EBITDA Consolidated PAT* Rs. 2,395 crores Rs. 407 crores Rs. 216 crores Consolidated EBITDA Margin Consolidated PAT Margin at 17.01% at 9.02% * - After MI & share in profit/ loss of associate cos. 5 PNC Infratech Limited
Other Highlights – FY 2015-16 MP Highways Private Limited - revised from Recommended dividend @ 25% CARE BBB To CARE BBB(+) i.e. Rs. 2.50 per equity share of PNC Kanpur Highways Limited - revised from Rs. 10/- each for the financial CARE BBB(-) To CARE BBB year ended March 31, 2016* compared to Rs. 1.50 per share PNC Bareilly Nainital Highways Private Long term and short term Limited - revised from CARE BBB(-) To for the financial year ended credit ratings upgraded from CARE BBB March 31, 2015 CARE A to CARE A+ and Upgraded credit rating on bank facilities of Sub-division of equity shares of CARE A1 to CARE A1+, PNC Raebareli Highways Private Limited after face value Rs. 10/- each into 5 31st March 2016 as follows respectively equity shares of Rs. 2/- each* Long term bank facilities (Senior Debt) from CARE BBB to CARE A(-) Long term bank facilities (Subordinate Debt) from CARE BBB(-) to CARE BBB(+) Company Subsidiaries’ Corporate Credit Rating Credit Rating Action *subject to shareholders’ approval 6 PNC Infratech Limited
Order Book & Project Highlights – FY 2015-16 Remaining value of contracts under Commenced operations on 4 BOT execution Rs. 5,537 crores as on March projects 31, 2016 Tolling commenced from May 7, 2015 at the Secured 7 new projects, for a total 100% owned Kanpur-Kabrai project - NHAI contract value of Rs. 3,972 crores in FY16 Tolling commenced from June 25, 2015 at the 35% owned Ghaziabad Aligarh project - NHAI Comprising of 6 highway projects and 1 airport runway project Tolling commenced from October 19, 2015 at the Orderbook Projects 100% owned Bareilly Almora project - UPSHA The company has received letters of award (LoAs) for all the 7 projects by March 31, 2016 Received COD from February 27, 2016 - 98 days prior to Scheduled COD - for the 100% owned Secured new orders* worth Rs. 260 Rae Bareilly Jaunpur BOT Annuity Project - NHAI crores till date, in the current financial Completed the sale of minority stake of year 8.51% in Jaora-Nayagaon Toll Road L1 for a project of extension and resurfacing of Company Pvt. Ltd. to Viva Highways Ltd. runway at Air Force Station, Bakshi Ka Talab, near Sale completed on 2 nd January, 2016 for an Lucknow worth Rs. 140.6 crores from Military Engineering Services, Government of India aggregate consideration of Rs. 34.19 Crores L1 for a project of upgradation of Nanau-Dodon Sale resulted in Profit of Rs. 9.72 crores section in the district of Aligarh, Uttar Pradesh accounted as Other Income in Q4 FY16 worth Rs. 119.9 crores by UP PWD The Project is funded by Asian Development Bank (ADB) 7 PNC Infratech Limited * Projects where company is L1, awaiting receipt of letters of award (LoA)
Standalone Financial Highlights – Q4 FY 2015-16 Revenue (Rs. Crs) EBITDA (Rs. Crs) +27% +26% 589 77 61 464 Q4 FY15 Q4 FY16 Q4 FY15 Q4 FY16 PAT (Rs. Crs) +369% 154 33 Q4 FY15 Q4 FY16 8 PNC Infratech Limited
Standalone Financial Highlights – FY 2015-16 Revenue (Rs. Crs) EBITDA (Rs. Crs) +29% +23% 2,014 266 217 1,561 FY15 FY16 FY15 FY16 PAT (Rs. Crs) +142% 243 100 FY15 FY16 9 PNC Infratech Limited
Consolidated Financial Highlights – Q4 FY 2015-16 Revenue (Rs. Crs) EBITDA (Rs. Crs) +28% +47% 694 114 541 77 Q4 FY15 Q4 FY16 Q4 FY15 Q4 FY16 PAT after MI & Asso. Profit (Rs. Crs) +428% 148 28 Q4 FY15 Q4 FY16 10 PNC Infratech Limited
Consolidated Financial Highlights – FY 2015-16 Revenue (Rs. Crs) EBITDA (Rs. Crs) +29% +46% 2,395 407 1,861 280 FY15 FY16 FY15 FY16 PAT after MI & Asso. Profit (Rs. Crs) +137% 216 91 FY15 FY16 11 PNC Infratech Limited
Segmental Revenue Break-up Quarter (Rs. Crs) Q4 FY16 Q4 FY15 70 109 471 585 EPC BOT/Annuity/Others EPC BOT/Annuity/Others Full Year (Rs. Crs) FY15 FY16 261 381 1,600 2,014 EPC BOT/Annuity/Others EPC BOT/Annuity/Others 12 PNC Infratech Limited
Quarter 4 Profitability Statement Standalone Consolidated Rs. Crores Q4 FY16 Q4 FY15 YoY growth Q4 FY16 Q4 FY15 YoY growth REVENUE 588.74 464.30 27% 694.11 541.11 28% EBITDA 76.82 61.11 26% 113.51 77.12 47% EBITDA margin 13.05% 13.16% 16.35% 14.25% Other Income 11.45 7.57 10.76 4.68 Depreciation 14.35 10.60 21.21 17.88 Interest 8.86 10.95 43.73 22.59 PBT 65.05 47.13 38% 59.34 41.33 44% Tax -49.74 14.34 -52.40 13.35 Net Profit before Exceptional Items 114.79 32.79 111.74 27.98 Short/(Excess) Provison for Taxation of Earlier -38.95 0.00 -38.95 0.00 Years Profit After Tax 153.73 32.79 369% 150.69 27.98 439% PAT Margin 26.11% 7.06% 21.71% 5.17% Minority Interest 0.00 0.00 0.00 0.00 Share of Profit / (Loss) of Associates Companies 0.00 0.00 -2.83 0.00 PAT after MI & Asso. Profit 153.73 32.79 369% 147.86 27.98 428% Cash Profit 168.08 43.39 287% 169.07 45.86 269% 13 PNC Infratech Limited
Annual Profitability Statement Standalone Consolidated Rs. Crores FY16 FY15 YoY growth FY16 FY15 YoY growth REVENUE 2,014.16 1,560.99 29% 2,394.60 1,860.89 29% EBITDA 265.96 216.62 23% 407.35 279.87 46% EBITDA margin 13.20% 13.88% 17.01% 15.04% Other Income 20.16 13.82 16.65 12.14 Depreciation 52.46 36.37 109.08 60.34 Interest 33.23 46.24 128.75 92.51 PBT 200.41 147.84 36% 186.16 139.16 34% Tax -3.38 47.48 -4.06 47.88 Net Profit before Exceptional Items 203.79 100.36 190.23 91.28 Short/(Excess) Provision for Taxation of Earlier -38.95 0.00 -38.95 0.00 Years Profit After Tax 242.74 100.36 142% 229.18 91.28 151% PAT Margin 12.05% 6.43% 9.57% 4.91% Minority Interest 0.00 0.00 0.00 0.00 Share of Profit / (Loss) of Associates Companies 0.00 0.00 -13.07 0.00 PAT after MI & Asso. Profit 242.74 100.36 142% 216.10 91.28 137% Cash Profit 295.20 136.73 116% 325.18 151.62 114% 14 PNC Infratech Limited
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