Business Update Presentation

Q4 FY 2016

GPT Infraprojects Limited

May 25, 2016

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 companys ability to successfully implement its strategy, the Companys future levels of growth and expansion, technological implementation,
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Content

About GPT Infraprojects

Railways: Growth Prospects

Q4 FY 2016 Financial Highlights

Q4 FY 2016 Financial Highlights

146

EBITDA

92
79

46
33
-0.1
33

Interest

PBT

Tax Expenses (Credits)

PAT

Minorities

PAT after Minorities

1.9%

55

Other Income

PAT Margin

28

Depreciation

8.2%

1,629

Operating expenses

EBITDA margin

1,775

Net Sales

2.3

1,772

Revenue

Other Operating Income

Q4 '16

INR Million

0.1%

1.3

-2.9

-1.6

12

10

102

24

51

10.4%

139

1,200

1,339

8.0

1,331

Q4 '15

2391.4%

-98.0%

672.2%

-9.3%

132.0%

-44.0%

4.6%

35.8%

32.5%

-71.5%

33.2%

YoY%

2.6%

123

5.3

128

72

200

386

96

191

13.5%

680

4347

5,028

6.8

5,021

FY16

1.1%

41

0.06

42

17

58

407

73

198

15.1%

590

3309

3,920

21.8

3,898

FY15

Q4 FY16 and FY16 Consolidated Financial Highlights

199.9%

765.8%

208.2%

241.6%

-5.0%

32.1%

-3.6%

15.3%

31.4%

29.0%

-55.2%

29.3%

YoY%

Mar15
143
1,480
1,623
135
56
22
213
1,226
852
2,134
4,212
40
6,089

Mar16
143
1,522
1,665
40
76
18
134
1,295
856
2,206
4,357
42
6,197

INR Million

Share Capital

Reserves

Shareholder's Funds

Secured Loans

Def Tax Liabilities

Long Term Provisions

Total Non-Current Liabilities

Trade Payables

Other Current Liabilities

Short Term Borrowings

Total Current Liabilities

Minority Interest

Total Liabilities

Consolidated Balance Sheet

3,973
6,089

4,264
6,197

Total Current Assets

Total Assets

2,017

341

181

727

700

2,116

403.7

394.5

1,318

Mar15

2,069

334

308

827

727

1,932

336

428

1,168

Mar16

Other Current Assets

Short term Loans and Advances

Cash and Bank

Sundry Debtors

Inventories

Currents Investments

Total Non-Current Assets

Other Non Current Assets

Long Term Loans & Advances

Fixed Assets incl. CWIP

INR Million

2015

3898

28.9%
2014

26.4%

2013

Infrastructure

71.1%

Concrete Sleepers

2015

23.9%

76.1%

Revenue break-up: Segments

2014

4528

73.6%

2013

4831

82.4%

2016

5021

2016

17.6%

+29.0%

In INR Mn

South Africa

88%

Namibia

9%

India

3%

Revenue break-up: Geography

increasing order activity from Indian Railways

FY16

revenues in line with the companys focus and with

Increasing share of infrastructure business in total

on back of strong order inflow

Strong uptick in revenues (29% YoY growth in FY16)

Revenue growth in the last four years

Revenue growth of 29% in FY16

2014

608

13%

2015

590

15%

2016

680

14%

2013

137

2014

63

PAT

2015

41

2016

123

In INR Mn

working capital cycle

PAT of INR 123 mn in FY16 vis--vis INR 41 mn in FY15 on back of reduced interest payments and better

margins

EBITDA margin remains healthy even during tough market conditions by focusing on projects with better

2013

639

13%

EBITDA and Margin

Continued focus on profitability

2013

7%

2013

322

2015

407

2014

8%

2015

10%

Finance charges as % of revenues

2014

379

Finance charges

2016

8%

2016

386

with reduction in finance cost..

407

32

70

305

FY 15

386

41

61

284

FY 16

Reduction in interest rates by banks

Partly interest free mobilization advance

mn

Debt repaid during the financial year INR 190

379

44

65

270

FY 14

322

45

Finance charges
Total

41

236

FY 13

Interest on advances

Interest on borrowings

Components

In INR Mn

2013

184

2014

191

2015

238

Working Capital Days

2016

169

191

102

61

161

71

Mar14

238

115

80

192

81

Mar15

169

94

53

150

60

Mar16

10

Mobilization advance, 50% of which is interest free

Consistent follow-up with clients for pending collection

payments from clients and higher execution

FY16 sees improvement with better and faster

delayed payments and project certification from clients

Working capital cycle stretched in FY15 due to

184

95

Creditors
Net WC Days

73

123

Other Current Assets

Inventory

83

Mar' 13

Debtor

Working Capital (Days)

.. And improvement in working capital cycle

Infrastruct
ure
75%

Order book INR 16.5 bn

Concrete
Sleepers
25%

813

801

West Bengal
PWD
Northeast
Frontier
Railway
DVC

Bridge over Katakhali,

Hasnabad
Fabrication, Erection of
Bridge in Manipur
Construction of Intake Well
for Raghunathpur Power
Plant

641

1,133

South
Eastern
Railway

ROB Flyover between

Sankrail and Santragachi
Stations

1,143

RVNL

Client

Approach bridge for

Burdwan ROB

Project Description

In INR Mn

11

Industrial

Railways
Steel
Bridges

Roads &
Roads
bridges

Railways
Track &
bridges

Order
Value (INR Segment
mn)

Top 5 infrastructure orders

Diversified order book over 75% from infrastructure

Railways: Growth Prospects

1,930

390
1,270
1,020
1,000
957
8,560

Network expansion (including electrification)

National projects (Northeastern & Kashmir connectivity projects)

Safety (track renewal, bridge works, ROB, RUB and signaling & telecom)

Rolling stocks (locomotives, coaches, wagons production & maintenance)

Station redevelopment and logistic parks

Passenger amenities, High speed rail & elevated corridor, IT and Other

Total

Investment in decongestion of railway network by increasing track length by 20%

Rehabilitation of old operational steel girder bridges, and increased spending on doubling, tripling and new lines

Around 350 Bridges and ROBs construction on highways under Setu Bharatam scheme presents opportunity

Investment of INR 65,810 mn for constructing 917 RUBs and ROBs to substitute 3,438 railway crossings

13

1,993

Network decongestion (including DFC, electrification, doubling)

Increase in capital allocation for infrastructure & railway by Government of India. More than INR 8,500 bn to be invested in
railways in next 5 years

INR bn

Railway Capex Plan (FY16-20)

Growth Prospects: Revival in Railways

14

WDFC to include 262 bridges, 33 flyovers, 505 ROBs and 200 RUBs; also includes the reconstruction of 24
existing ROBs and lengthening ten existing RUBs

EDFC to include construction of 104 bridges, 368 ROBs, RUBs and 21 flyovers; also includes reconstructing nine
existing ROBs and extending ten existing RUBs

Bridges opportunity under DFCs (over 1,600 bridges/ ROBs/ RUBs):

GPT has already won order from GMR worth INR 2,465 mn for EDFC

1 km of DFC requires ~1,600 sleepers (with 6,000 km length spanning both ways, the opportunity is as huge as
10 million sleepers)

Sleepers manufacturing opportunity for GPT:

Ministry of Railways commitment to build nearly 2,800 km dedicated freight corridors by 2022 to result in
more DFC contracts

Growth Prospects: DFCC opportunities

 Increase in mining activities require high capacity rail infrastructure to

provide better economy than road transport

Emergence of metropolitan cities need new urban transport system

Need for effective and integrated logistics to manage global supply chain,
especially South Africa

Key Growth driver for African railways:

Only supplier in Namibia

One among three suppliers in South Africa

Strong presence in Africa, where transportation and infrastructure demand is

growing:

Growth Prospects: Presence in Africa

15

About GPT Infraprojects

in civil infrastructure projects for

GPT has orders under execution of more than INR 16,500 mn

For FY 2016, GPT recorded revenues of INR 5,028 mn

sleepers for railways systems in India and abroad

Concrete Sleepers: Involved in manufacture of concrete

Railways, Roads, Airports, and Urban Infrastructure

Infrastructure: Involved

GPTs businesses are divided primarily into two segments:

Employee strength of more than 1,000 including 100+ engineers

civil construction and manufacturing company based in Kolkata

Incorporated in 1980, GPT Infraprojects Limited is a fast-growing

About GPT Infraprojects

17

Railways & PSUs

Clientele

NHAI, State PWDs, & Dept.

Other Key Customers

18

RICON
(a JV of RITES & IRCON)

International customers

Sr. Vice President

(Technical)

Sr. Vice President

(Planning & HR)

Subrata Ray

US Singh

Head (Africa
Operations)

Director & Chief

Operating Officer

Vaibhav Tantia

Niraj Sinha

Chief Financial
Officer

AK Dokania

General Manager
(Projects)

Post Graduate in HRD & Certified Management Consultant

Executive Director

Atul Tantia

DB Patra

B. Tech in Mechanical Engineering from IIT Kharagpur

Managing Director

SG Tantia

Heads GPTs African Operations based in South Africa

B. Tech in Mechanical Engineering with over 8 years experience working in Africa

B. Tech in Civil Engg. with 15 years experience in large civil infrastructure projects

Leads HR initiatives, incl. training, recruitment, performance management

19

Responsible for technical and design-related matters in construction projects, tendering and contract management

B. Tech in Civil Engineering from Bengal Engineering College, having rich experience of over 35 years, with leading
construction companies as well as consultancy firms

Responsible for execution of infrastructure projects and tendering

BS in Economics & Civil Engg. from Wharton School, UPenn

Strong background in audit, taxation and legal matters

B. Com, FCA with over 25 years experience in accounting, finance and banking for infrastructure sector

Responsible for international businesses, incl. operations & business development

BS in Economics & Systems Engg. from Wharton School, UPenn

Responsible for marketing and business development functions

Strong team building and project execution capabilities

28 years experience in infrastructure and civil construction sector

Hony. Consul of Ghana in Kolkata

Leads Company's international initiatives

35 years experience in the infrastructure sector

Chairman

DP Tantia

Background

Designation

Name

Experienced Leadership Team

Independent Director

Independent Director

Independent Director

Independent Director

Independent Director

Nominee Director

Viswa Nath Purohit

Nitindra Nath Som

Sunil Patwari

Mamta Binani

Shankar Jyoti Deb

Kunal Kumthekar

Rich experience in financial markets and was associated with JM Financial

Nominee Director of Nine Rivers Capital

Wide experience in designing, engineering and implementation of several civil projects

Completed programme in Finance Management from I.I.M., Calcutta

Bachelors in Science and B.E. in Civil Engineering from I.I.T. Roorkee

15 years of experience in corporate consultation & advisory

President of The Institute of Company Secretaries of India

Wide experience in the area of business management, accounts, taxation and finance

CFA, MBA-Finance(IIM)

Was Head of Civil Engineering, Jadavpur University, Kolkata

Renowned expert in Soil Mechanics in the country

55 years of experience in Accounts, Finance and Taxation

Has LLB and FICA qualification

Fellow Member of the Institute of Chartered Accounts of India

Background

S R Baltiboi & Co., Member firm of Ernst & Young

Statutory Auditor

Designation

Name

Independent & Nominee Directors on the Board

Supported by Professionals

20

 GPTs capabilities cover entire value chain

Pioneered use of indigenous stress-bench production system in foreign countries, where

manpower is available

A pioneer in export of concrete sleepers / plants for foreign railway systems:

Received INR 2,465 mn worth order from GMR Infrastructure Limited in November 2015
for supply of 1.45 mn Sleepers for Eastern Dedicated Freight Corridor Contract (World
Bank funded)

Manufactured more than 10 Million concrete sleepers for Indian Railways, IRCON, RITES,
SAIL, NTPC, Tata Steel, DVC, etc.

Manufacture concrete sleepers for mainline, curves, bridges, level crossings, points & crossing

Plant production capacity of 480,000 sleepers is one of the largest in India

Key facility located at Panagarh, 160 km from Kolkata:

Commenced production in 1982 and became one of the earliest entrants in concrete
sleepers for Indian Railways

Concrete Sleeper Business

21

SRI LANKA

MOZAMBIQUE

BANGLADESH

MYANMAR

Sleepers manufactured
at Panagarh plant and
exported in containers

Supplied 160,000
sleepers for Sri Lankan
Railways and 140 sets
of turnouts

Installed 2 plants in
Mozambique in record
time of 6 months

Manufactured 750,000
sleepers for World Bank
funded Sena Line Project

Recently supplied 300,000

MG sleepers and 200 sets
turnouts

Supplied Dual Gauge

Concrete Sleepers for
prestigious Jamuna Bridge
Rail Project

Transfer of production
technology, training and
track design

Two orders for turnkey

installation of concrete
sleeper plants

SOUTH AFRICA

Production commenced in April 2009

Annual capacity: 500,000 sleepers

Incorporated subsidiary & established

state-of-art plant at Ladysmith near
Durban with technology from UK

Supplied Transnet Freight Rail 1,000,000

sleepers over 5 years

Concrete Sleepers: Global Footprint

NAMIBIA

22

Annual capacity: 200,000 sleepers

Commercial production commenced

in 2011, manufactured 375,000
sleepers till date

Entered into agreement with

TransNamib Holdings for setting up
sleeper plant

ENGINEERING &
TECHNOLOGICAL
INNOVATION

TIMELY DELIVERY
OF TECHNICALLY &
LOGISTICALLY
CHALLENGING
PROJECTS

CONCEPT-TOCOMMISSIONING
OF COMPLEX
INFRASTRUCTURE
PROJECTS

Cantilever method of erection adopted for large

span steel structures

Innovative erection methods to replace old girders

in running traffic conditions

Used slipform shuttering for construction of tall

substructures for Railway Bridge over River
Barakar

Construction of washed-away Railway Bridge on

Howrah-Chennai route completed 21 days ahead
of schedule

Completed rehabilitation of Dona Ana Bridge over

River Zambezi in Mozambique involving
replacement of corroded steel components

BOT Annuity project from NHAI on Design & Build

basis, including own design and engineering

Executing work of 38 major road bridges under

Tripura PWD on turnkey basis, i.e. including survey,
design, engineering and construction

Infrastructure: Value Proposition

23

Capability to undertake turnkey rail & road infrastructure works, including

construction of embankment, rigid & flexible pavements, flyovers, ROBs, and
rail track

steel

Structural steel fabrication and

launching of large span
superstructures over perennial rivers or in running traffic conditions

of riverine bridges on
with
steel or concrete

Construction
foundations,
spans

deep well or pile

superstructure of large

Focusing on contracts of larger magnitude with high value addition

Core expertise in infrastructure works includes:

Achieved phenomenal growth in order bookings & turnover with CAGR of

~60% in last 5 years

Expanded execution capabilities and widened client base since commencement

of infrastructure activities in 2004

GPTs Infrastructure Division executes civil infrastructure projects mainly in

roads, railways and industrial infrastructure sectors for government sector
clients

Infrastructure: Core Areas

24

 Forming strategic joint ventures to share technical know-how and entering new
fields of work

Improving capabilities in the EPC segment and expanding into industrial projects

Growing business proportionately by leveraging expertise to tap emerging

opportunities

Striving for challenging contract that need high degree engineering skill and offer
higher margins

Focus on trimming interest costs to improve Net Profit margin

Improving working capital cycle through better payments from customers

Growth Strategy

25

L20103WB1980PLC032872
Atul Tantia
atul@gptgroup.co.in

www.gptinfra.in

CIN

Name

Email

Company website

GPT Infraprojects Ltd.

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vgaurang@stellar-ir.com /
dpooja@stellar-ir.com

Gaurang Vasani / Pooja Dokania

U74900MH2014PTC259212

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