Capacit'e Infraprojects Limited — Interim / Quarterly Report 2020

Nov 8, 2019

Ref : CIL/STEX 33/Q2FY20 Date : November 08, 2019

To

The Secretary,	The Secretary,
BSE Limited	National Stock Exchange of India Limited
Corporate relation Dept,	Plot No. C/1, G Block,
P.J. Towers,	Bandra Kurla Complex
Dalal Street, Fort,	Bandra (East)
Mumbai-400001	Mumbai-400 051
Scrip Code –/Scrip Id: 540710/CAPACITE	Scrip Symbol: CAPACITE

Subject: Press Release in connection with Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2019

Dear Sir/ Madam,

Please find enclosed herewith the copy of Press Release in connection with the Statement of Unaudited Standalone and Consolidated Financial Results for the quarter and half year ended September 30, 2019.

Thanking you,

Encl: As above

Investor Release For Immediate Release

Q2 & H1 FY20 Standalone performance

Total Income ₹ 831.4 Crores EBITDA ₹ 151.7 Crores, Margin of 18.2% PAT ₹ 63.6 Crores, Margin of 7.6% Cash PAT ₹ 120.8 Crores Total collections ~₹ 798 Crores

Private Sector Order Book at ₹ 5,739 Crores; Public Sector Order Book at ₹ 5,397 Crores

Mumbai, November 8 th, 2019: Capacit'e Infraprojects Limited ("Company"), a EPC company focused on High Rises & Super High Rises and providing end to end services for residential, commercial and Institutional building to both Private as well as Public sector, with presence in Mumbai Metropolitan Region (MMR), Pune, Chennai, National Capital Region (NCR), Kochi, Hyderabad and Bengaluru today announced its Unaudited Financial results for the quarter & half year ended September 30 th , 2019.

Particulars (₹ In Crs)	Q2FY20	Q2FY19	Y-o-Y	H1FY20	H1FY19	Y-o-Y
Total Income	413.5	454.8	-9.1%	831.4	863.3	-3.7%
EBITDA	75.2	76.2	-1.3%	151.7	142.4	6.6%
EBITDA Margin (%)	18.2%	16.8%		18.2%	16.5%
Profit Before Tax (PBT)	30.9	35.9	-14.1%	67.5	71.1	-4.9%
PBT Margin (%)	7.5%	7.9%		8.1%	8.2%
Profit After Tax (PAT)	39.8	23.0	72.8%	63.6	45.7	39.0%
PAT Margin (%)	9.6%	5.1%		7.6%	5.3%
Cash PAT*	70.5	49.5	42.4%	120.8	93.6	29.0%
Cash PAT Margin	17.1%	10.9%		14.5%	10.8%

Key Standalone Financial Highlights are as follows:

Standalone Performance highlights for Q2 & H1 FY20:

Total Income for H1 FY20 is ₹ 831.4 Crores as compared to ₹ 863.3 Crores in H1 FY19, degrowing by 3.7%. The Total Income for Q2 FY20 was ₹ 413.5 Crores as compared to ₹ 454.8 Crores in Q2 FY19, showing a degrowth of 9.1%. Our Total Income for Q1 FY20 was ₹ 417.9 Crores, thereby depicting a degrowth of mere 1.1% QoQ.

The heavy rainfall witnessed by Mumbai impacted our operations resulting into a loss of ~29 days of execution during the quarter. Reports suggest, in the period between June to September 2019 Mumbai received highest ever rainfall in the last 65 years.

EBITDA for H1 FY20 grew by 6.6% to ₹ 151.7 Crores as compared to ₹ 142.4 Crores in H1 FY19. EBITDA for Q2 FY20 was ₹ 75.2 Crores as compared to ₹ 76.2 Crores in Q2 FY19, degrowing by 1.3%. EBITDA margin for H1 FY20 was at 18.2% vis-à-vis 16.5% in H1 FY19 and for Q2 FY20 is at 18.2% v/s 16.8% in Q2 FY19.

Finance cost for H1 FY20 is ₹ 29.9 Crores as compared to ₹ 26.8 Crores in H1 FY19.

Depreciation and amortisation expense for H1 FY20 stood at ₹ 54.2 Crores as compared to ₹44.5 Crores in H1 FY19. The Capex spends towards Core Assets in H1 FY20 stood at ₹ 39.5 Crores.

PAT for H1 FY20 grew by 39.0% to ₹ 63.6 Crores as compared to ₹ 45.7 Crores in H1 FY19. PAT for Q2 FY20 was ₹ 39.8 Crores as compared to ₹ 23.0 Crores in Q2 FY19, growing by 72.8%. PAT Margin for H1 FY20 stands at 7.6% v/s 5.3% in H1 FY19 and for Q2 FY20 at 9.6% vis-à-vis 5.1% in Q2 FY19. Tax expense for the quarter and six months ended Sep 30, 2019 reflect changes made vide Taxation Laws Amendments Ordinance 2019 as applicable to the Company.

Diluted EPS for H1 FY20 stood at ₹ 9.37 per equity share.

Cash PAT for H1 FY20 was ₹ 120.8 Crores as compared to ₹ 93.6 Crores during H1 FY19, growing by 29.0%. Cash PAT for Q2 FY20 grew by 42.4% at ₹ 70.5 Crores, whereas it was ₹ 49.5 Crores during Q2 FY19.

Our Net Debt/Equity ratio at the end of September 30, 2019 stood at 0.15x. The cash & bank balance stood at ₹ 153.4 Crores as at the end of September 30, 2019.

Total collections during H1 FY20 is ~₹ 798 Crores.

The Net Working Capital Days during H1 FY20 remains at the same level as of FY19 i.e. 68 days.

Our Total Orderbook (Private + Public) excluding MHADA as on September 30, 2019 stood at ~₹ 11,137 Crores. Residential segment contributes ~83% of the orderbook and Commercial & Institutional segment contributes ~17%.

Our Orderbook from the Public sector (included in the above) as at the end of September 30, 2019 stood at ~₹ 5,397 Crores i.e. ~48% of the total order book.

During the quarter the company received maiden order from City and Industrial Development Corporation of Maharashtra (CIDCO), for a contract value of ₹ 4,502 Crore (excluding GST) for construction of approximately 21,346 dwelling units with development of commercial area and onsite infrastructure works at Navi Mumbai.

On the performance Mr. Rohit Katyal, Executive Director & CFO commented, "We are extremely satisfied with our performance during the first half of the financial year despite challenges faced by the company in terms of non-availability of labour during the first quarter & heavy rainfall disrupting operations during the second quarter. We have effectively done execution for only 2 months during the second quarter as the heavy down pour washed off nearly 29 days of execution.

Further, it gives us immense pleasure to announce the receipt of a very prestigious contract from CIDCO worth ₹ 4,502 Crore to be completed in a period of 42 months. With this we have added another marquee name to our elite clientele. This contract provides a fine balance to our order book, with almost equal share of public as well as the private sector in the total order backlog. Our philosophy of focusing on existing geographies and to associate with only eminent names is paying off.

Capacit'e today stands at an inflection point as it has a well-diversified order book comprising of most prominent clients from private as well as public sector, a lean balance sheet and a flexible management with adaptability to change.

We foresee huge opportunities lying ahead with the rising market share of Branded private Sector developers, resulting into repeat orders from existing clients, increasing investments in the commercial, institutional and healthcare segments and huge opportunities available in the Public Sector arising from Government schemes such as the Pradhan Mantri Awas Yojana (PMAY).

With a healthy order book and strong pipeline, we remain confident of continuing our strong performance in the foreseeable future."

About Capacit'e Infraprojects Limited

Capacit'e Infraprojects Limited (Capacit'e/the Company) has etched a name for itself as a quality contractor in the buildings space. Today, it is working with almost all major real estate developers in the country. Capacit'e has been rapidly emerging as a marquee contractor in the building space with good repute. The Company's sharp focus on the single segment of buildings, with an emphasis on technology, a robust asset base and the promoters' rich experience in the EPC space have enabled it to scale up quickly in the building space and become a well-respected player. Capacit'e provides end-to-end construction services for High Rise and Super High Rise Buildings, Townships, Mass Housing, etc. in the residential space, Office Complexes, IT & ITES Parks in the commercial space and Hospitality, Healthcare Facilities, Industrial Buildings, MLCPs in the institutional space.

For more information please visit www.capacite.in

Safe Harbor Statement

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

Company	InvestorRelationsAdvisors
Capacit'eInfraprojectsLimited	StrategicGrowthAdvisorsPvtLtd.
CINNo:L45400MH2012PLC234318	CINNo:U74140MH2010PTC204285
Name:Mr.AlokMehrotraDesignation–President,CorporateFinanceEmailid:ir@capacite.in	Mr.ShogunJain/Mr.PratikR.Shah
	Emailid:shogun.jain@sgapl.net/ pratik.shah@sgapl.net
	TelNo:+917738377756/+919769260769