Cemindia Projects Limited — Investor Presentation 2023

Nov 9, 2023

==> picture [58 x 59] intentionally omitted <==

Cem ITD Cementation India[Limited]

Commitment, Reliability & Quality

Dept. of Corporate Services – Corporate Relationship, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001.

National Stock Exchange of India Limited, Listing Department, Exchange Plaza, C-1, Block ‘G’ Bandra-Kurla Complex, Bandra (East), Mumbai 400 051.

Date Our Reference No. 9[th] November 2023 SEC/11/2023

Our Contact Direct Line RAHUL NEOGI 91 22 67680814 rahul.neogi@itdcem.co.in

Dear Sirs,

Sub: Unaudited Financial Results for the quarter and half year ended 30[th] September, 2023 Scrip Code No: 509496 (BSE) / ITDCEM (NSE)

Pursuant to Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time, enclosed please find presentation on Unaudited Financial Results for the quarter and half year ended 30[th] September, 2023.

You are requested to take the same on record. The presentation is being made available on the Company’s website www.itdcem.co.in in accordance with Regulation 46 of the Listing Regulations.

Thanking you,

Yours faithfully, For ITD Cementation India Limited

RAHUL

NEOGI

Digitally signed by RAHUL NEOGI DN: c=IN, o=Personal, postalCode=400101, st=Maharashtra, 2.5.4.20=d6d0df5445796b87b8d90ab7a54ecb6fa930dd593fdf12cc80090f398780228b, pseudonym=6A90452343F3F023CF80080B1BA7597371D386ED, serialNumber=8D2A9ED0DFE2EEF0B6F68C1B48856DD103F7E3A97C4B25E6D1B16D812D7260A5, cn=RAHUL NEOGI Date: 2023.11.09 11:38:03 +05'30'

(RAHUL NEOGI) COMPANY SECRETARY

Encl: as above

ITD Cementation India Limited

==> picture [62 x 63] intentionally omitted <==

Registered & Corporate Office : 9lh Floor, Prima Bay, Tower - B, Gate No. 5, Saki Vihar Road. Powai. Mumbai - 400 072 Tel.: 91-22-66931600 fax : 91-22-66931628 www.itdcem.co.in Corporate Identity Number : L61000MH 1978PLC020435

Rubble Mound Breakwater Vizhinjam Port in Kerala

ITD Cementation India Limited Investor Presentation Q2 FY24 / H1 FY24

==> picture [382 x 168] intentionally omitted <==

Sivok Rangpo railway tunnel in West Bengal and Sikkim

==> picture [339 x 160] intentionally omitted <==

Cem

Commitment, Reliability, Quality

1

FORWARD-LOOKING STATEMENTS (DISCLAIMER)

This Presentation is for general information only and may contain statements about expected future events and financial and operating results of ITD Cementation India Limited, which could be forward-looking. By their nature, forward-looking statements require the Company to make assumptions and are subject to inherent risks and uncertainties.

There is significant risk that the assumptions, predictions and other forward-looking statements may not prove to be accurate. Readers are cautioned not to place undue reliance on forward-looking statements as a number of factors could cause assumptions, actual future results and events to differ materially from those expressed in the forward-looking statements.

Accordingly, this Presentation is subject to the disclaimer and qualified in its entirety by the assumptions, qualifications and risk factors referred to in this document. This does not purport to be a record of the proceedings of the Analysts & Institutional Investors Conference Call. No part of the Presentation shall be copied or disseminated, in whole or in part, in any manner.

Cem

Commitment, Reliability, Quality

2

OVERVIEW – NINE DECADES OF SUSTAINABLE PRESENCE IN INDIA

==> picture [715 x 129] intentionally omitted <==

----- Start of picture text -----

PROMOTERS ORDERBOOK PRESENCE EMPLOYEE BASE CREDIT RATING
PAN INDIA OVER 20,000 ICRA A and CARE A
Rs 22,080 (including contractual
(13 STATES & 2 UT)
46.64% ‘STABLE’
2 OVERSEAS personnel and
CRORE
PROJECTS workers) OUTLOOK
----- End of picture text -----

==> picture [696 x 30] intentionally omitted <==

----- Start of picture text -----

DIVERSIFIED AND HIGH GROWTH SECTORAL PRESENCE
----- End of picture text -----

==> picture [106 x 115] intentionally omitted <==

==> picture [335 x 119] intentionally omitted <==

==> picture [107 x 117] intentionally omitted <==

==> picture [107 x 116] intentionally omitted <==

==> picture [106 x 115] intentionally omitted <==

==> picture [748 x 35] intentionally omitted <==

----- Start of picture text -----

MARITIME URBAN HIGHWAYS, BRIDGES INDUSTRIAL HYDRO, DAMS, WATER AND WASTE FOUNDATION AND
STRUCTURES INFRASTRUCTURE, AND FLYOVERS STRUCTURES AND TUNNELS AND WATER SPECIALIST
MRTS AND AIRPORTS BUILDINGS IRRIGATION ENGINEERING
----- End of picture text -----

Amongst the leading EPC player in India undertaking Heavy Civil and Infrastructure projects

Cem

Commitment, Reliability, Quality

3

VISION & MISSION

VISION Our aim is a satisfied client, a strong and proactive workforce and quality product finished on time maintaining highest safety standard and to budget

MISSION

To make ITD Cementation India Limited, the country’s leading construction Company in customer choice, quality and safety

Re-certified through TUV Nord under the latest IMS standards ISO 9001:2015 (QMS), ISO 14001:2015 (EMS) and ISO 45001:2018 (OHS-MS)

QMS – Quality Management Systems, OHS – Occupational Health & Safety Management Systems, EMS – Environmental Management Systems

Cem

Commitment, Reliability, Quality

4

HISTORY

==> picture [38 x 11] intentionally omitted <==

----- Start of picture text -----

1996: :
----- End of picture text -----

1996: : 2000: 1994: Kvaerner ASA acquired Skanska AB acquired Cemindia Company Trafalgar House Plc in Kvaerner Construction Limited renamed as 1996 and changed its Group Limited changed Trafalgar House name to Kvaerner its name to Skanska Construction India Cementation India Cementation India Limited Limited in 1998 Limited in 2001

1978: 1994: 1931: Branch office was converted into India The Cementation subsidiary (named as Company Limited, U.K, Cemindia Company Limited) operated a branch in of The Cementation India. Company Limited Limited

==> picture [33 x 34] intentionally omitted <==

==> picture [36 x 34] intentionally omitted <==

==> picture [35 x 34] intentionally omitted <==

==> picture [36 x 34] intentionally omitted <==

==> picture [35 x 34] intentionally omitted <==

==> picture [37 x 10] intentionally omitted <==

----- Start of picture text -----

2004:
----- End of picture text -----

ITD, acquired Skanska AB interest in Skanska Cementation India Limited name changed to ITD Cementation India Limited in 2005

==> picture [34 x 34] intentionally omitted <==

Expanding Horizons. Delivering Growth

==> picture [29 x 11] intentionally omitted <==

----- Start of picture text -----

Cem
----- End of picture text -----

Commitment, Reliability, Quality

5

ITALIAN-THAI DEVELOPMENT PUBLIC COMPANY LIMITED (ITD)

• Amongst the leading Infrastructure & largest construction company in Thailand for over 60 years.

• Received ‘The Royal Seal of Garuda’ in 1985 - Highest and most honorable achievement for civilian Co’s in Thailand

• Total works in Hand : ~Rs. 72,600 crore (Construction : ~Rs. 35,900 crore)

• Global presence in India, Bangladesh, Lao PDR, the Philippines, Vietnam, Africa etc.

• Access to the latest technology and know-how, international design and engineering as well as skilled personnel to augment our local strength.

==> picture [322 x 287] intentionally omitted <==

Cem Commitment, Reliability, Quality

6

SHAREHOLDING PATTERN (SEPTEMBER 30, 2023)

==> picture [785 x 274] intentionally omitted <==

----- Start of picture text -----

Bodies
Corporate,
6.0%
Market Cap of over Rs 3,800 crore as on November 08, 2023
Promoter,
Individual, 46.6%
Listed in BSE and NSE
29.9%
FII,
Strong institutional shareholding of over 17%
14.4%
i.e. FII’s and Mutual Funds
Mutual Funds,
3.1%
----- End of picture text -----

Amongst few construction Companies with ‘Zero Pledge’ by promoters

==> picture [29 x 11] intentionally omitted <==

----- Start of picture text -----

Cem
----- End of picture text -----

Commitment, Reliability, Quality

7

BOARD OF DIRECTORS

==> picture [167 x 32] intentionally omitted <==

==> picture [167 x 104] intentionally omitted <==

Chairman MR. PIYACHAI KARNASUTA

==> picture [167 x 16] intentionally omitted <==

==> picture [167 x 17] intentionally omitted <==

==> picture [167 x 26] intentionally omitted <==

==> picture [167 x 52] intentionally omitted <==

==> picture [167 x 27] intentionally omitted <==

Independent Director MR. SUNIL SHAH SINGH

==> picture [164 x 17] intentionally omitted <==

==> picture [164 x 17] intentionally omitted <==

==> picture [164 x 21] intentionally omitted <==

==> picture [164 x 63] intentionally omitted <==

==> picture [164 x 21] intentionally omitted <==

Executive Vice Chairman MR. SANTI JONGKONGKA

==> picture [161 x 33] intentionally omitted <==

==> picture [161 x 104] intentionally omitted <==

Independent Director MS. JANA CHATRA

==> picture [168 x 32] intentionally omitted <==

==> picture [168 x 104] intentionally omitted <==

Managing Director MR. JAYANTA BASU

==> picture [168 x 32] intentionally omitted <==

==> picture [168 x 104] intentionally omitted <==

Independent Director MR. PANKAJ I.C.JAIN

Cem

Commitment, Reliability, Quality

8

PERFORMANCE HIGHLIGHTS

Q2 FY24 Key Highlights

==> picture [35 x 37] intentionally omitted <==

REVENUE 56% Rs 1,610 crore

PAT 168% Rs 54 crore

EBITDA 78% Rs 172 crore NEW ORDERS ~Rs 4,576 crore

Cem

Commitment, Reliability, Quality

9

PERFORMANCE HIGHLIGHTS

H1 FY24 Key Highlights

==> picture [35 x 37] intentionally omitted <==

REVENUE 61% Rs 3,443 crore

PAT 111% Rs 106 crore

EBITDA 75% Rs 347 crore NEW ORDERS ~Rs 4,823 crore

Cem

Commitment, Reliability, Quality

10

STANDALONE FINANCIALS (All figures in Rs crore)

==> picture [760 x 368] intentionally omitted <==

----- Start of picture text -----

Revenue from Operations (Yearly) Revenue from Operations (Quarterly)
5,000 4,675 2,000 1,800
1,580 1,583
4,000
1,500
3,250
1,192
3,000 938
2,142 2,208 1,000
2,000
500
1,000
0
0
Sep'22 Dec'22 Mar'23 June'23 Sep'23
Mar'20 Mar'21 Mar'22 Mar'23
EBITDA (Yearly) EBITDA (Quarterly)
500 446 180 171 169
160 146
400 140 113
91
309
120
300 265
100
213
80
200
60
40
100
20
0 0
Mar'20 Mar'21 Mar'22 Mar'23 Sep'22 Dec'22 Mar'23 June'23 Sep'23
----- End of picture text -----

Commitment, Reliability, Quality

Cem

11

STANDALONE FINANCIALS (All figures in Rs crore)

==> picture [760 x 371] intentionally omitted <==

----- Start of picture text -----

Profit After Tax (Yearly) Profit After Tax (Quarterly)
140 124 60 52 54
120 50
100 40 37 38
80 69
30
60 20
43 20
40
16 10
20
0
0
Sep'22 Dec'22 Mar'23 June'23 Sep'23
Mar'20 Mar'21 Mar'22 Mar'23
Networth (Yearly) Debt and Debt:Equity (Yearly)
1,300 800 725 0.8
1,238
1,250 700
600 0.6
1,200 515
1,150 1,131 500 397 0.6
1,100 1,053 1,066 400300 293 0.4 0.5 0.4
1,050 200 0.3 0.2
1,000 100
950 0 0.0
Mar'20 Mar'21 Mar'22 Mar'23 Mar'20 Mar'21 Mar'22 Mar'23
----- End of picture text -----

Cem

Commitment, Reliability, Quality

12

CONSOLIDATED FINANCIALS (All figures in Rs crore)

==> picture [734 x 376] intentionally omitted <==

----- Start of picture text -----

Revenue from Operations (Yearly) Revenue from Operations (Quarterly)
6,000 2,000 1,833
5,091
1,631 1,610
5,000
1,500 1,327
3,809
4,000
1,035
2,861 2,728
3,000 1,000
2,000
500
1,000
0 0
Mar'20 Mar'21 Mar'22 Mar'23 Sep'22 Dec'22 Mar'23 June'23 Sep'23
EBITDA (Yearly) EBITDA (Quarterly)
500 463 200
174 173
147
400
328 338 150
118
300 258 97
100
200
50
100
0 0
Mar'20 Mar'21 Mar'22 Mar'23 Sep'22 Dec'22 Mar'23 June'23 Sep'23
----- End of picture text -----

Cem

Commitment, Reliability, Quality

13

CONSOLIDATED FINANCIALS (All figures in Rs crore)

==> picture [753 x 370] intentionally omitted <==

----- Start of picture text -----

Profit After Tax (Yearly) Profit After Tax (Quarterly)
140 125 60 52 54
120 50
100 40 37 38
80 69
30
20
60
44 20
40
16 10
20
0
0
Sep'22 Dec'22 Mar'23 June'23 Sep'23
Mar'20 Mar'21 Mar'22 Mar'23
Networth (Yearly)
Debt and Debt:Equity (Yearly)
1,300
1,241 800 725 0.8
1,250
700
1,200 600 0.6
515
1,150 1,135 500 474 0.6
409
1,100 1,069 400 0.5 0.4
1,055 300 0.4 0.4
1,050
200 0.2
1,000
100
950
0 0.0
Mar'20 Mar'21 Mar'22 Mar'23
Mar'20 Mar'21 Mar'22 Mar'23
----- End of picture text -----

Commitment, Reliability, Quality

Cem

14

ORDER BOOK ANALYSIS (All figures in Rs crore)

==> picture [771 x 189] intentionally omitted <==

----- Start of picture text -----

25,000
22,080
20,044
20,000
15,548
15,000
11,732
11,743
10,000
5,000
0
Mar'20 Mar'21 Mar'22 Mar'23 Sep'23
----- End of picture text -----

• Diversified order book of Rs 22,080 crore provides multi year revenue visibility

• Secured orders worth ~Rs 4,823 crore in H1 FY24

• Clientele comprises of Government (50%), PSU (20%) and Private Sector (30%)

• Established presence in India and is currently executing overseas project in Sri Lanka and Bangladesh

• India : 91.6% [Tamil Nadu (19.5%), Uttar Pradesh (18.3%), Andhra Pradesh (15.1%), Karnataka (9.5%), Delhi (8.4%), West Bengal (7.1%), Gujarat (4.2%), Maharashtra (3.9%) and Others (5.6%)]

• Overseas : 8.4% [Bangladesh (5.0%) and Sri Lanka (3.4%)

Cem

15

Commitment, Reliability, Quality

ORDER BOOK BREAK-UP AS ON SEPTEMBER 30, 2023

Project Name	Contract Value (Rs crore)	% Order book
Maritime Structures	7,788	35.3%
Urban Infrastructure, MRTS and Airports	5,277	23.9%
Highway, Bridges and Flyovers	4,038	18.3%
Industrial Structures and Buildings	2,708	12.3%
Hydro, Dams, Tunnels and Irrigation	1,352	6.1%
Water and Waste Water	503	2.3%
Foundation and Specialist Engineering	414	1.9%
Total	22,080	100.0%

Cem

Commitment, Reliability, Quality

16

MARITIME STRUCTURES

Udangudi project in Tamil Nadu

ORDER BOOK

Rs 7,788 crore

==> picture [352 x 170] intentionally omitted <==

West Container Terminal in Colombo port, Sri Lanka

• Design, supply, installation, testing and commissioning of BoguraKaliakair 400 kV double circuit transmission line in Bangladesh

• West Container Terminal in the Port of Colombo, Sri Lanka

• Balance Outer Harbour Works in Vizag, Andhra Pradesh

• Piers, Landside Tunnels & Building in Karwar, Karnataka

• Udangudi Supercritical Power Project  Wharf and Approach trestle works in Tamil Nadu at JNPT in Maharashtra

• Captive Oil Jetty at Kamarajar Port in  Rubble Mound Breakwater in Tamil Nadu Vizhinjam Port, Kerala

==> picture [352 x 171] intentionally omitted <==

Cem

Commitment, Reliability, Quality

17

URBAN INFRASTRUCTURE, MRTS AND AIRPORTS

Chennai underground metro in Tamil Nadu

ORDER BOOK

Rs 5,277 crore

==> picture [352 x 170] intentionally omitted <==

Ahmedabad airport in Gujarat

• Underground tunneling and stations for metros in Chennai, Bengaluru, Mumbai and Kolkata

• Elevated metro stations and buildings in Kolkata

• Depo metro building in Surat

• Construction of new terminal building in Trichy airport

• Reconstruction of old terminal building in Pune airport

• Modification & Refurbishment of terminal buildings in Ahmedabad airport

==> picture [352 x 172] intentionally omitted <==

Cem

Commitment, Reliability, Quality

18

HIGHWAYS, BRIDGES AND FLYOVERS

Ganga Expressway six laning road project in Uttar Pradesh

ORDER BOOK

Rs 4,038 crore

==> picture [351 x 171] intentionally omitted <==

Steel bridge over river Ganga in Uttar Pradesh

Cem

• Six Laning road project in Uttar Pradesh

• Steel Bridge over river Ganga in Uttar Pradesh

==> picture [351 x 170] intentionally omitted <==

Commitment, Reliability, Quality

19

INDUSTRIAL STRUCTURES AND BUILDINGS

Circuit bench of Calcutta High Court in West Bengal

ORDER BOOK

Rs 2,708 crore

==> picture [352 x 170] intentionally omitted <==

Buildings for Sikkim University in Sikkim

• Redevelopment of Residential colony at Kasturba Nagar in New Delhi

• Thal Sena Bhawan in Delhi

• Piling and Civil work for Coke Oven Project at Hazira plant in Gujarat

• Circuit bench of Calcutta High Court at Jalpaiguri in West Bengal

• Aerospace museum at AF station in Palam, Delhi

• Construction of buildings for Sikkim University

==> picture [352 x 165] intentionally omitted <==

Cem

Commitment, Reliability, Quality

20

HYDRO, DAMS, TUNNELS AND IRRIGATION

Sivok Rangpo railway tunnel in Sikkim and West Bengal

ORDER BOOK

Rs 1,352 crore

==> picture [351 x 171] intentionally omitted <==

Churial canal project in West Bengal

• Railway tunnels in West Bengal and Sikkim

• Water conveyor system of lined gravity canal/tunnels in Telangana

==> picture [351 x 171] intentionally omitted <==

Cem

Commitment, Reliability, Quality

21

WATER AND WASTE WATER | FOUNDATION & SPECIALIST ENGINEERING

Bhama Askhed water project in Maharashtra

WATER AND WASTE WATER

Rs 503 crore

FOUNDATION AND SPECIALIST ENGINEERING

Rs 414 crore

==> picture [351 x 147] intentionally omitted <==

Piling work at Hazira plant in Gujarat

==> picture [351 x 152] intentionally omitted <==

• Water infrastructure project in Karwar, Karnataka  Brahmaputra Riverfront development in Guwahati, Assam

Cem

Commitment, Reliability, Quality

22

KEY INVESTMENT HIGHLIGHTS

Experienced Promoters backed by professional management team Robust orderbook of Rs 22,080 crore – Multi year revenue visibility Diversified order book to minimize risks from slowdown in any business areas Summary Conservatively financed with Net Debt:Equity of 0.34x Strong execution capabilities with proven ability to undertake complex projects and delivering quality as per client satisfaction Strong bidding pipeline to fuel future growth

Cem Commitment, Reliability, Quality

23

Thank You

Cem Commitment, Reliability, Quality

24