Capacit'e Infraprojects Limited — Investor Presentation 2022

Nov 10, 2022

Ref Date : CIL/STEX 30/Q2Fy23 . November 10,2022

To

The Secretary,	The
BSE Limited	National Stock Exchange of tndia Limited
Corporate relation Dept,	Plot No. C/l, G Block,
P.J. Towers,	Bandra Kurla Complex
Dala! Street, Fort,	Bandra (East)
Mumbai-400 001	Mumbai-400 051
Scrip Code /Scrip ld:540710/CAPACtTE	Scrip Symbol: CAPACITE

Dear Sir/ Madam

Pursuant to Regulation 30 and other respective regulations of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, pleaJe find enclosed lnvestoipresentation.

This is to further inform that the lnvestor Presentation has been uploaded on the website of the Company www.capacite.in and is also available on the websites of the Stock Exchanges for your information and also for the information of the public at large.

This is for your information and records.

Yours Sincerely For CAPACIT'E INFRAPROJECTS LtMtTED

Varsha Malkani Digitally signed by Varsha Malkani Date: 2022.11.10 21:16:10 +05'30'

Varsha Malkani Company Secretary and Comptiance Officer

NCR I Eangalore CIN : [45400MH2012PLC2343[9 www.capacite.in

Investor Presentation Q2 & H1 FY23

November 2022

Capacit'e Infraprojects Ltd. On a Long-term Growth Path…

Disclaimer

This presentation and the accompanying slides (the "Presentation"), which have been prepared by Capacit'e Infraprojects Ltd. (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.

Q2 & H1 FY23

Standalone Performance

Q2 & H1 FY23 Key Financial Highlights

Q2 & H1 FY23 Standalone Profit & Loss

Particulars (₹ In Crs)	Q2FY23	Q2FY22	Y-o-Y	Q1FY23	H1 FY23	H1 FY22	Y-o-Y	FY22
Revenue from Operations	431.4	345.4	25%	477.1	908.4	625.5	45.2%	1,339.8
Other Income	2.9	4.2		1.9	4.8	6.6		13.1
Total Income	434.2	349.5	24%	479.0	913.2	632.1	44.5%	1,352.9
Cost of Material Consumed	292.3	235.7		327.4	619.7	429.9		930.7
(Incl.Construction Expenses)Employee Expenses	32.6	25.6		30.3	62.9	51.5		108.9
Other Expenses	24.9	21.1		20.5	45.4	41.6		81.7
EBITDA	84.4	67.2	26%	100.8	185.2	109.2	69.7%	231.6
EBITDA Margin (%)	19.4%	19.2%		21.0%	20.3%	17.3%		17.1%
Depreciation	32.1	25.5		42.3	74.5	45.9		98.8
Finance Cost	22.9	16.5		20.2	43.1	32.2		67.0
Profit before Tax	29.3	25.1	17%	38.3	67.6	31.0	117.9%	65.8
Profit before Tax Margin (%)	6.8%	7.2%		8.0%	7.4%	4.9%		4.9%
Tax	7.5	6.1		9.7	17.2	7.8		17.4
Profit After Tax	21.9	19.0	15%	28.6	50.4	23.2	117%	48.5
PAT Margin (%)	5.04%	5.43%		5.97%	5.52%	3.67%		3.58%
Other comprehensive income	0.4	-0.2		0.3	0.6	-0.3		0.3
Total other comprehensive income	22.2	18.8	18%	28.9	51.1	22.9	122.9%	48.7
Cash PAT	51.1	44.4	15%	76.3	127.4	70.1	81.7%	149.1
Cash PAT Margin	11.8%	12.7%		15.9%	14.0%	11.1%		11.0%
Basic EPS	3.2	2.8		4.2	7.4	3.4		7.1
Diluted EPS	3.3	2.8		4.0	7.3	3.4		7.1

H1 FY23 Standalone Balance Sheet

Particulars (₹ in Cr)	As atSep 30, 2022	As atMar 31, 2022	Particulars (₹ in Cr)	As atSep 30, 2022	As atMar 31, 2022
ASSETS			EQUITY AND LIABILITIES
Non-Current Assets			Equity
Property, plant and equipment	653	679	Equity Share Capital	68	68
Capital work-in-progress	18	14	Other Equity	962	898
Intangible Assets	1	1	Total - Shareholders' funds	1,030	966
Right-of-use assets	3	6
Investments Properties	7	7	LIABILITIES
Intangible assets under development	0	0
Financial Assets			Non-Current Liabilities
Investments	5	5	Financial Liabilities
Trade receivables (retention)	95	71	Borrowings	148	137
Other Financial Assets	41	23	Lease Liability	2	4
Non-current tax assets (net)	32	32	Other Financial Liabilities	41	36
Other Non Current Assets	90	94	Provisions	2	3
Total - Non-Current Assets	945	932	Deferred tax liabilities (net)	35	32
			Other non-current liabilities	169	190
			Total - Non-Current Liabilities	397	403
Current Assets
Inventories	92	112	Current Liabilities
Financial Assets			Financial Liabilities
Investments	-	1	Borrowings	251	191
Trade Receivables	284	394	Lease Liabilities	2	2
Cash and Cash Equivalents	6	22	Trade Payables	629	529
Bank balances other than above	133	162	Other Financial Liabilities	61	46
Loans	10	13	Provisions	4	2
Other Financial Assets	934	633	Current tax liabilities (net)	18	13
Other Current Assets	165	114	Other current liabilities	179	229
Total - Current Assets	1,624	1,449	Total - Current Liabilities	1,142	1,012
TOTAL - ASSETS	2,569	2,381	TOTAL - EQUITY AND LIABILITIES	2,569	2,381

Particulars (₹ in Cr)	As atSep 30, 2022	As atMar 31, 2022	Particulars (₹ in Cr)	As atSep 30, 2022	As atMar 31, 2022
ASSETS			EQUITY AND LIABILITIES
Non-Current Assets			Equity
Property, plant and equipment	653	679	Equity Share Capital	68	68
Capital work-in-progress	18	14	Other Equity	962	898
Intangible Assets	1	1	Total - Shareholders' funds	1,030	966
Right-of-use assets	3	6
Investments Properties	7	7	LIABILITIES
Intangible assets under development	0	0
Financial Assets			Non-Current Liabilities
Investments	5	5	Financial Liabilities
Trade receivables (retention)	95	71	Borrowings	148	137
Other Financial Assets	41	23	Lease Liability	2	4
Non-current tax assets (net)	32	32	Other Financial Liabilities	41	36
Other Non Current Assets	90	94	Provisions	2	3
Total - Non-Current Assets	945	932	Deferred tax liabilities (net)	35	32
			Other non-current liabilities	169	190
			Total - Non-Current Liabilities	397	403
Current Assets
Inventories	92	112	Current Liabilities
Financial Assets			Financial Liabilities
Investments	-	1	Borrowings	251	191
Trade Receivables	284	394	Lease Liabilities	2	2
Cash and Cash Equivalents	6	22	Trade Payables	629	529
Bank balances other than above	133	162	Other Financial Liabilities	61	46
Loans	10	13	Provisions	4	2
Other Financial Assets	934	633	Current tax liabilities (net)	18	13
Other Current Assets	165	114	Other current liabilities	179	229
Total - Current Assets	1,624	1,449	Total - Current Liabilities	1,142	1,012
TOTAL - ASSETS	2,569	2,381	TOTAL - EQUITY AND LIABILITIES	2,569	2,381

H1 FY23 Standalone Cash Flow Statement

Particulars (₹ In Cr)	H1 FY 23	H1 FY 22
PBT	68	31
Adjustments	135	89
Operating profit before working capital changes	203	120
Changes in working capital	(220)	(132)
Cash generated from operations#	(17)	(13)
Direct taxes paid (net of refund)	(10)	(11)
Net Cash from Operating Activities	(27)	(24)
Net Cash from Investing Activities	(33)	37
Net Cash from Financing Activities	44	(10)
Net Change in cash and cash equivalents	(16)	3
Opening Cash Balance	22	10
Closing Cash Balance	6	13

# The negative cash generated from operations is resultant of non receipt of advances & release of retention monies of ₹ 100 crores. The sanctions have got delayed by 45 days. The Company expects sanctions of non fund based limits very shortly. Once the sanctions are in place, Company expects release of retention monies / advances, which will improve the operating cash flow as well as overall working capital by likewise amount.

Robust Performance

26%

Y-o-Y

Half Year

Robust Performance

15%

Y-o-Y

Debt Profile

Gross Debt (₹ In Cr)

• Company achieved a 45% Y-o-Y increase in turnover in H1 FY23. Maintained debt levels despite increase in turnover and challenging external environment
• Gross debt equity ratio within comfort level at 0.39x as on September 30, 2022
• Slight increase in Gross Debt primarily to address short term long term liquidity mismatch and ramping up operations.
• Gross debt includes Promoter debt amounting to ₹ 34.1 crores, which may be considered quasi equity.
• Focus to reduce debt in medium to long term and improve profitability and return ratio

Working capital efforts

• retention monies in next 2 quarters.
• Working capital cycle (excluding retention) improved from 91 days in March 2022 to 88 days in September 2022, indicating a positive trend

Order Book Details as on 30th September 2022

Healthy Order Book to support Revenue uptick

Total Order Book ~₹ 9,026 Crs

• Diversified Orderbook across clientele
• Execution focus on projects for marquee clients in private & public sector, profitable working capital cycle and projects with last mile completion work
• Marquee names in Orderbook:
  • CIDCO
  • MCGM
  • Raymond Limited
  • Oberoi's
  • Piramal
  • K Raheja Corp with GIC Singapore
  • Prestige

Multi-specialty Hospital under M.C.G.M

Key Project Won in H1FY23

(M.C.G.M)

Poised for Growth…

pace of execution and going forward, expect to maintain the momentum

We have implemented stringent cost control policies. Various initiative have been started with a focus to increase our bottom line

Industry Dynamics to benefit organized large players

Government Push

Government focus on infrastructure creation coupled with favourable policies for the Real estate sector augurs well and will provide sustained uptick in execution over the next few quarters

Consolidation

01

Consolidation in the private sector will further intensify as stronger players will become more stronger by gaining market share

FDI Inflow

Indian real estate attracted U$ 5 billion institutional investments in 2020, equivalent to 93% of transactions recorded in the previous year. Investments from private equity (PE) players and VC funds reached US$ 4.06 billion in CY 2020

Attractive Opportunities

Growing requirement of space from sector such as education & healthcare, Ecommerce and logistics offers various opportunities

Lower Home loan rates coupled with lower regulatory charges in form of stamp duty has fueled real estate sales proving much needed stimulus for the housing industry

Our Business Model

Developed our service portfolio by capturing the complexities …

... & built a sustainable model

Hybrid Service Portfolio = Private + Public

Hybrid Service Portfolio comprising of an elite clientele from Private & Public sector, provides revenue & cash flow visibility On A LONG TERM GROWTH PATH …

Hybrid Service Portfolio – Builds Diversity

Strategic Priorities

Work with Large and Liquid public & private sector Clients, thereby strengthening our Revenue Visibility and sustainable cash flows

Deepen the culture of account driven approach, due to which we get repeat orders from our clients for more projects, which increases our wallet share, and helps transform an individual

generating "platform"

Design & Build projects,

client into a sustainable revenue attracting lump sum remuneration, has potential to increase the scope of services and corresponding revenues enhancing recall, market share and project control

Marquee Clientele Account Groups Design & Build Lean Balance Sheet Cash Flows

Most sustainable companies have less debt and high net worth; we expect to be net debt-free in the foreseeable future

Strong Cash Flow Focus

leading to shortening receivables, moderating debt, investing in technologies that accelerate construction and graduate to superior margin Projects

Our vision is to be among the top three leading building construction companies in the geographies of our presence, evoking the recall of

"THINK CONSTRUCTION, THINK CAPACIT'E"

Project Profile

World Trade Center – Brigade Group

Our Creation (1/5)

Our Creation (2/5)

Our Creation (3/5)

Our Creation (4/5)

Our Creation (5/5)

Strong Financials to Support Growth

Profit & Loss Statement

Particulars (₹In Crs)	FY22	FY21	FY20	FY19	FY18
Revenue from Operations	1,340	880	1,529	1,788	1,336
Other Income	13	29	25	37	24
Total Income	1,353	909	1,554	1,825	1,360
Cost of Material Consumed (Incl. ConstructionExpenses)	931	602	1064	1320	966
Employee Expenses	109	79	137	146	117
Other Expenses	82	62	71	73	49
EBITDA	232	166	282	286	228
EBITDA Margin (%)	17.1%	18.3%	18.1%	15.7%	16.8%
Depreciation	99	90	114	89	67
Finance Cost	67	70	65	49	40
Profit before Tax	66	6	103	148	121
Tax	17	3	12	52	42
Profit After Tax	48	3	91	96	79
PAT Margin (%)	3.6%	0.3%	5.9%	5.3%	5.8%
Cash PAT	149	89	189	198	160
Cash PAT Margin (%)	11.0%	9.7%	12.2%	10.9%	11.8%

Balance Sheet

ASSETS (₹In Crs)	Mar'22	Mar"21	Mar"20	Mar"19	Mar"18
NON-CURRENT ASSETS	932	1,006	942	726	541
Property, plant & equipment	679	650	646	539	409
Capital work-in-progress	14	6	5	4	0
Intangible assets	1	1	1	2	1
Right-of-use assets	6	5	12	0	0
Investments	0	5	11	12	19
Trade receivables	71	81	85	66	50
Investments Properties	7	8	-	-	-
Intangible assets underdevelopment	0	0	-	-	-
Investment in associates andJV	5	5	-	-	-
Other Financial Assets	23	107	71	28	29
Non Current tax assets (Net)	32	22	20	13	0
Other Non -current assets	94	119	91	62	32
CURRENT ASSETS	1,459	1,238	1,422	1,324	1,192
Inventories	112	100	104	91	216
Investments	1	0	0	0	0
Trade receivables	394	285	382	529	415
Cash & Cash Equivalents	22	10	108	30	13
Bank balances	162	146	155	163	311
Loans	13	13	13	29	40
Other Financial Assets	643	563	561	391	142
Other Current assets	113	120	99	91	56
TOTAL ASSETS	2,391	2,244	2,364	2,050	1,734

EQUITY & LIABILITIES (₹In Crs)	Mar'22	Mar"21	Mar"20	Mar"19	Mar"18
EQUITY	974.0	929	926	843	749
Equity Share capital	67.9	68	68	68	68
Other equity	906.1	861	858	775	682
NON-CURRENT LIABILITIES	405.6	410	473	235	192
Borrowings	137.4	82	94	58	48
Lease Liability	4.4	3	8	0	0
Other financial liabilities	35.9	28	39	42	29
Provisions	3.2	2	1	1	1
Deferred tax liabilities (Net)	35.2	35	39	57	40
Other Non-Current Liabilities	189.6	260	293	76	73
CURRENT LIABILITIES	1,011.6	905	965	972	792
Borrowings	190.7	203	184	178	139
Lease Liability	2.4	2	4	0	0
Trade Payables	528.1	422	559	534	447
Other Financial Liabilities	45.8	30	60	61	77
Provisions	2.4	2	15	22	18
Current Tax Liabilities (net)	12.5	13	12	12	5
Other current liabilities	229.5	232	131	166	107
TOTAL EQUITY & LIABILITIES	2,391	2,244	2,364	2,050	1,734

Standalone Cash Flow Statement

Cash Flow Statement (₹In Crs)	FY22	FY21	FY20
PBT	61	5	103
Adjustments	176	163	171
Operating profit before working capital changes	237	168	275
Changes in working capital	-177	-83	118
Cash generated from operations	60	85	393
Direct taxes paid (net of refund)	-25	-10	-37
Net Cash from Operating Activities	34	76	356
Net Cash from Investing Activities	-23	-121	-275
Net Cash from Financing Activities	1	-53	-3
Net Change in cash and cash equivalents	12	-98	78
Opening Cash Balance	10	108	30
Closing Cash Balance	22	10	108

For further information, please contact

Capacit'e Infraprojects Ltd.

Mr. Alok Mehrotra (President, Corporate Finance) ir@capacite.in

Company : Investor Relations Advisors :

Marathon Capital Advisory Pvt. Ltd

Mr. Amit Porwal / Mr. Rahul Porwal amit@marathoncapital.in / rahul@marathoncapital.in +91 9819773905 / +91 9967576900

www.capacite.in

www.marathoncapital.in