Cemindia Projects Limited — Investor Presentation 2023

Feb 10, 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. Our Contact Direct Line 10[th] February, 2023 SEC/02/2023 RAHUL NEOGI 91 22 67680814 rahul.neogi@itdcem.co.in

Dear Sirs,

Sub: Unaudited Financial Results for the quarter and nine months ended 31[st] December, 2022 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 nine months ended 31[st] December, 2022.

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: 2023.02.10 11:22:00 +05'30'

(RAHUL NEOGI) COMPANY SECRETARY

Encl: as above

ITD Cementation India Limited

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

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

==> picture [351 x 145] intentionally omitted <==

==> picture [239 x 9] intentionally omitted <==

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

Udangudi approach trestle marine works in Tamil Nadu
----- End of picture text -----

ITD Cementation India Limited

Investor Presentation Q3 FY23 / 9M FY23

Cem Commitment, Reliability, Quality

==> picture [341 x 121] intentionally omitted <==

==> picture [188 x 10] intentionally omitted <==

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

Kolkata underground metro in West Bengal
----- End of picture text -----

==> picture [314 x 116] intentionally omitted <==

Mumbai Metro underground tunnel in Maharashtra 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 [783 x 367] intentionally omitted <==

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

EXPERIENCED
ORDERBOOK PRESENCE EMPLOYEE BASE CREDIT RATING
PROMOTERS
PAN INDIA ICRA A and CARE A
46.64% OVER 6,000
Rs 211,870
(14 STATES & 2 UT)
(ITD Cementation (including contractual ‘STABLE’
1 INTERNATIONAL
India Limited) MILLION employees)
OUTLOOK
PROJECT
DIVERSIFIED AND HIGH GROWTH SECTORAL PRESENCE
URBAN INDUSTRIAL HYDRO, DAMS, FOUNDATION AND
HIGHWAYS, BRIDGES MARITIME WATER AND WASTE
INFRASTRUCTURE, STRUCTURES AND TUNNELS AND SPECIALIST
AND FLYOVERS STRUCTURES WATER
MRTS AND AIRPORTS BUILDINGS IRRIGATION ENGINEERING
Amongst the leading EPC player in India undertaking Heavy Civil and Infrastructure projects
----- End of picture text -----

Cem

Commitment, Reliability, Quality

3

VISION & MISSION

VISION MISSION Our aim is a satisfied To make ITD Cementation client, a strong and India Limited, the proactive workforce and country’s leading quality product finished construction Company in on time maintaining customer choice, quality highest safety standard and safety and to budget

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 [39 x 10] intentionally omitted <==

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

1978:
----- End of picture text -----

1931-78: 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

1996-98:

2000-01:

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 Limited

2004-05:

ITD, acquired Skanska AB interest in Skanska Cementation India Limited name changed to ITD Cementation India 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 [34 x 34] intentionally omitted <==

Diversified, Disciplined and Determined to create long term value for our stakeholders

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

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

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

Commitment, Reliability, Quality

5

ITD – STRONG MNC PARENTAGE

• 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. 744,101 million (Construction : ~Rs. 377,684 million)

• 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 <==

Commitment, Reliability, Quality

Cem

6

CORPORATE STRUCTURE

ITD Cementation India Limited

==> picture [712 x 196] intentionally omitted <==

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

100% 80% 49% 40% 95% 60% 51%
ITD ITD - ITD Cem JV
ITD - ITD Cem JV ITD Cem - Maytas CEC - ITD Cem
CemIndia JV (Consortium of ITD ITD Cem - BBJ JV
Consortium - TPL JV
- ITD Cementation)
Design &
Construction of Construction of Design and construction of Construction of
MRTS and Water MRTS and Water Airport execution of underground bridge over river
Modernisation water conveyor stations & Ganga at
projects projects system tunnels for Allahabad
Mumbai Metro
----- End of picture text -----

==> picture [316 x 153] intentionally omitted <==

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

100% 80%
49%
ITD Cementation ITD
ITD - ITD Cem JV
Projects India Ltd CemIndia JV
Construction of Construction of
Subsidiary MRTS and Water MRTS and Water
projects projects
----- End of picture text -----

Cem

Commitment, Reliability, Quality

7

SHAREHOLDING PATTERN (December 31, 2022)

==> picture [774 x 274] intentionally omitted <==

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

Bodies
Corporate,
6.7%
Market Cap of ~Rs 17,900 million as on February 08, 2023
Promoter,
Individual, 46.6%
Listed in BSE and NSE
27.7%
FII,
13.3% Strong institutional shareholding of ~19% i.e. FII’s and Mutual Funds
Mutual Funds,
5.6%
----- 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

8

BOARD OF DIRECTORS

==> picture [127 x 135] intentionally omitted <==

Chairman MR. PIYACHAI KARNASUTA

==> picture [128 x 137] intentionally omitted <==

Independent Director MR. SUNIL SHAH SINGH

==> picture [125 x 135] intentionally omitted <==

Executive Vice Chairman MR. SANTI JONGKONGKA

==> picture [127 x 136] intentionally omitted <==

Independent Director MS. JANA CHATRA

==> picture [128 x 137] intentionally omitted <==

Managing Director MR. JAYANTA BASU

==> picture [127 x 137] intentionally omitted <==

Independent Director MR. PANKAJ I.C.JAIN

Cem Commitment, Reliability, Quality

9

PERFORMANCE HIGHLIGHTS – Q3 FY23

==> picture [781 x 325] intentionally omitted <==

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

REVENUE EBITDA PAT
33% 36% 37%
Rs 13,270 million Rs 1,176 million Rs 369 million
ORDER WINS
Contract Value
New orders secured during the quarter
(Rs million)
West Container Terminal in the Port of Colombo, Sri Lanka 7,507
Others 827
Rs 8,334
million in Q3 FY23 Total 8,334
----- End of picture text -----

Cem

Commitment, Reliability, Quality

10

PERFORMANCE HIGHLIGHTS – 9M FY23

Cem REVENUE 31% Rs 34,594 million ORDER WINS Rs 79,960 million in 9M FY23	EBITDA 29% Rs 3,154 million PAT 65% Rs 870 million	EBITDA 29% Rs 3,154 million PAT 65% Rs 870 million
	New orders secured during the year (i.e. April to December 2022)	Contract Value (Rs million)
	Six laningroadproject in Uttar Pradesh	48,500
	Wharf and Approach Works at Jawaharlal Nehru Port in Maharashtra	7,200
	Berth and Yard Facilities at Dhamraport(2packages)in Odisha	5,122
	Pilingand Civil work for Coke Oven Project at Hazira plant, Gujarat	4,608
	Container Terminal 5 at Mundraport in Gujarat	2,130
	West Container Terminal in the Port of Colombo, Sri Lanka	7,507
	Others	4,893
	Total	79,960

Cem

Commitment, Reliability, Quality

11

STANDALONE FINANCIALS (All figures in Rs million)

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

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

Revenue from Operations (Yearly) Revenue from Operations (Quarterly)
35,000 32,495 14,000
11,918
30,000 12,000
10,108
9,650 9,380
25,000 22,835 21,420 22,083 10,000 8,500
20,000 18,729 8,000
6,000
15,000
4,000
10,000
2,000
5,000
0
0
Dec'21 Mar'22 June'22 Sep'22 Dec'22
Dec'17 Mar'19 (15M) Mar'20 Mar'21 Mar'22
EBITDA (Yearly) EBITDA (Quarterly)
3,500 1,200 1,127
3,093
3,000 2,869 2,818 2,649 1,000 807 850 964 912
2,500 2,134 800
2,000
600
1,500
400
1,000
200
500
0 0
Dec'17 Mar'19 (15M) Mar'20 Mar'21 Mar'22 Dec'21 Mar'22 June'22 Sep'22 Dec'22
----- End of picture text -----

Commitment, Reliability, Quality

Cem

12

STANDALONE FINANCIALS (All figures in Rs million)

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

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

Profit After Tax (Yearly) Profit After Tax (Quarterly)
900 819 400 366
800 728 350
688 301
700 300
600 250
197 197
500 432
200 164
400
150
300
100
158
200
50
100
0
0
Dec'21 Mar'22 June'22 Sep'22 Dec'22
Dec'17 Mar'19 (15M) Mar'20 Mar'21 Mar'22
Networth (Yearly) Debt and Debt:Equity (Yearly)
12,000 10,526 10,657 11,312 6,000 1.0
10,209 5,151
4,886
10,000 5,000 0.8
8,000 4,000 0.8 3,966
6,173 0.6
2,931
6,000 3,000
2,203
0.4
4,000 2,000 0.5
0.4
0.3 0.2
2,000 1,000
0.2
0 0 0.0
Dec'17 Mar'19 Mar'20 Mar'21 Mar'22 Dec'17 Mar'19 Mar'20 Mar'21 Mar'22
----- End of picture text -----

Cem

Commitment, Reliability, Quality

13

CONSOLIDATED FINANCIALS (All figures in Rs million)

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

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

Revenue from Operations (Yearly) Revenue from Operations (Quarterly)
38,090 13,270
40,000 14,000
11,738
35,000 31,651 12,000 10,978
28,607 9,982 10,347
30,000 27,277
10,000
25,000
20,605 8,000
20,000
6,000
15,000
4,000
10,000
5,000 2,000
0 0
Dec'17 Mar'19 (15M) Mar'20 Mar'21 Mar'22 Dec'21 Mar'22 June'22 Sep'22 Dec'22
EBITDA (Yearly) EBITDA (Quarterly)
4,000 1,400
3,500 3,413 3,280 3,379 1,200 1,011 1,176
2,929 968
3,000 2,583 1,000 866 933
2,500 800
2,000
600
1,500
400
1,000
200
500
0 0
Dec'17 Mar'19 (15M) Mar'20 Mar'21 Mar'22 Dec'21 Mar'22 June'22 Sep'22 Dec'22
----- End of picture text -----

Commitment, Reliability, Quality

Cem

14

==> picture [782 x 403] intentionally omitted <==

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

CONSOLIDATED FINANCIALS (All figures in Rs million)
Profit After Tax (Yearly) Profit After Tax (Quarterly)
900 832 400 369
800 729 350
693 302
700 300
600 250
198 200
500 438 200 165
400
150
300
100
160
200
50
100
0
0
Dec'21 Mar'22 June'22 Sep'22 Dec'22
Dec'17 Mar'19 (15M) Mar'20 Mar'21 Mar'22
Networth (Yearly)
Debt and Debt:Equity (Yearly)
12,000 11,347
10,230 10,554 10,687 6,000 1.0
5,323
5,151
10,000 4,886 4,739
5,000 0.8
4,092
8,000 0.8
6,182 4,000
0.6
6,000
3,000
4,000 2,000 0.5 0.4 0.4 0.5 0.4
2,000 0.2
1,000
0
0 0.0
Dec'17 Mar'19 Mar'20 Mar'21 Mar'22
Dec'17 Mar'19 Mar'20 Mar'21 Mar'22
----- End of picture text -----

Commitment, Reliability, Quality

Cem

15

ORDER BOOK ANALYSIS (All figures in Rs million)

==> picture [767 x 187] intentionally omitted <==

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

2,50,000
2,11,870
2,00,000
1,55,478
1,50,000
1,17,323
1,17,431
99,925
1,00,000
50,000
0
Mar'19 Mar'20 Mar'21 Mar'22 Dec'22
----- End of picture text -----

• Diversified order book of Rs 211,870 million provides multi year revenue visibility

• Secured orders worth ~Rs 79,960 million in 9M FY23

• Clientele comprises of Government (39%), PSU (21%) and Private Sector (40%)

• Established presence in India and also has international presence executing marine project in Myanmar and Sri Lanka

• Tamil Nadu (23.3%), Uttar Pradesh (22.9%), Karnataka (14.2%), Gujarat (8.7%), West Bengal (8.5%), Maharashtra (5.9%), Delhi (5.2%), Sri Lanka (3.5%) and Others (7.7%)

Cem

16

Commitment, Reliability, Quality

ORDER BOOK BREAK-UP AS ON DECEMBER 31, 2022 (All figures in Rs million)

Project Name	Contract Value (Rs million)	% Order book
Urban Infrastructure, MRTS and Airports	63,700	30.1%
Highway, Bridges and Flyovers	48,472	22.9%
Maritime Structures	47,970	22.6%
Industrial Structures and Buildings	20,080	9.5%
Hydro, Dams, Tunnels and Irrigation	16,095	7.6%
Water and Waste Water	7,548	3.6%
Foundation and Specialist Engineering	8,005	3.8%
Total	2,11,870	100.0%

Cem

Commitment, Reliability, Quality

17

URBAN INFRASTRUCTURE, MRTS AND AIRPORTS

Bengaluru underground metro casting yard in Karnataka

ORDER BOOK

Rs 63,700 million

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

Kolkata elevated metro project in West Bengal

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

• Elevated metro stations in Nagpur, Bengaluru and Kolkata

• Surat metro depot building in Gujarat

• Construction of new terminal building in Trichy airport, Tamil Nadu

• Reconstruction of old terminal building in Pune airport, Maharashtra

• Modification & Refurbishment of terminal buildings in Ahmedabad airport, Gujarat

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

Cem

Commitment, Reliability, Quality

18

HIGHWAYS, BRIDGES AND FLYOVERS

Steel `bridge over river Ganga in Uttar Pradesh

ORDER BOOK

Rs 48,472 million

• Six Laning road project in Uttar Pradesh

• Steel Bridge over river Ganga in Uttar Pradesh

==> picture [398 x 296] intentionally omitted <==

Cem

Commitment, Reliability, Quality

19

MARITIME STRUCTURES

Pamban bridge in Tamil Nadu

ORDER BOOK

Rs 47,970 million

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

International container terminal in Yangon, Myanmar

• Piers, Landside Tunnels & Building in  West Container Terminal in the Karwar, Karnataka Port of Colombo, Sri Lanka

• Multi Modal IWT terminal for Haldia in West Bengal

• Udangudi Supercritical Power Project in Tamil Nadu

• Container Terminal in Yangon, Myanmar

• Pamban bridge in Tamil Nadu

• Captive Oil Jetty at Kamarajar Port in Tamil Nadu

• Berth and Yard Facilities at Dhamra port in Odisha

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

Cem

Commitment, Reliability, Quality

20

INDUSTRIAL STRUCTURE AND BUILDINGS

Paradip refinery in Odisha

ORDER BOOK Rs 20,080 million

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

Circuit bench of Calcutta High Court in West Bengal

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

• Redevelopment of Residential colony at Kasturba Nagar in New Delhi

• 

• Construction of buildings for Sikkim Aerospace museum at AF station in University Palam, Delhi

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

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

Cem

Commitment, Reliability, Quality

21

HYDRO, DAMS, TUNNELS AND IRRIGATION

Sivok Rangpo railway tunnel in Sikkim and West Bengal

ORDER BOOK

Rs 16,095 million

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

Mumbai metro underground tunneling in Maharashtra

• Railway tunnels in West Bengal and Sikkim

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

• RCC box subway in Kolkata

• Micro tunneling for Ahmedabad Municipal Corporation in Gujarat

• Segmental tunneling for MCGM in Maharashtra

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

Cem

Commitment, Reliability, Quality

22

WATER AND WASTE WATER | FOUNDATION & SPECIALIST ENGINEERING

Bhama Askhed water project in Maharashtra

WATER AND WASTE WATER

Rs 7,548 million

FOUNDATION AND SPECIALIST ENGINEERING

Rs 8,005 million

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

Piling work at Barmer project in Rajasthan

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

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

Cem

Commitment, Reliability, Quality

23

KEY INVESTMENT HIGHLIGHTS

Experienced Promoters backed by professional management team Robust orderbook of Rs 211,870 million – Multi year revenue visibility Diversified order book to minimize risks from slowdown in any business areas Summary Conservatively financed with Net Debt:Equity of 0.39x - Provides room for further growth 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

24

Thank You

Cem Commitment, Reliability, Quality

25