GPT Infraprojects limited — Investor Presentation 2021

Aug 3, 2021

GPTINFRA/CS/SE/2021-22 August 03, 2021

The Department of Corporate Services, BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400001

National Stock Exchange of India Ltd., Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (E), Mumbai - 400 051

Dear Sir/Madam,

Sub. : Investor Presentation- Q1 FY22

Ref.: Scrip Code – 533761, Scrip ID – GPTINFRA

In compliance with Regulation 30 read with Part A of Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, please find attached herewith Investor Presentation for dissemination to general public and Investors.

Kindly take the aforesaid information on record and oblige.

Thanking you,

Yours faithfully,

For GPT Infraprojects Limited,

ANATHA BANDHABA CHAKRABARTTY Digitally signed by ANATHA BANDHABA CHAKRABARTTY Date: 2021.08.03 14:35:53 +05'30'

A B Chakrabartty (Company Secretary) Membership No.-F-7184

Encl. a /a.

GPT Infraprojects Limited

Investor Presentation | Q1/FY22

Safe Harbour

• This presentation and the accompanying slides (the "Presentation"), which have been prepared by GPT Infraprojects Limited (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 contractor 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
• Certain matters discussed in this Presentation may contain statements regarding the Company's market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guaranteeing of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the 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 company's ability to successfully implement its strategy, the Company's future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company's market preferences and its exposure to market risks, as well as other risks. The Company's actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third-party statements and projections

Table of Contents

Q1FY22: Despite resurgence of the pandemic through the second wave at the start of the fiscal, our operational and financial performance remained largely undisrupted in Q1, even while adhering to the Covid-19 led restrictions Outlook: The momentum maintained in Q1FY22 despite the second wave, validates our resilient business

operations. With the healthy current orderbook of Rs.18.6 Bn, we endeavour to better our performance this fiscal.

Infrastructure

• 1. Performance: 63% revenue growth YoY for Q1FY22 , led by better execution in large contracts
• 2. Profitability: EBIT margin and expansion, for Q1FY22, led by better execution in large contracts
• 1. Order Inflow / Execution : Execution in Gazipur, Mathura Jhansi going on well. The Company has received enhancement of order in Mathura Jhansi Contract

Sleeper

• 1. Performance: 8% growth in revenue growth YoY for Q1FY22, led by DFCC and South Africa contracts
• 1. Profitability: EBIT margin subdued due to lockdown in South African business
• 1. Order Inflow / Execution: Execution in Panagarh and DFCC is much higher compared to previous year
• 1. International Operations: Namibian operations continue to operate at all time high capacity utilization with good cash flow and dividends to the shareholders

GPT - Business Segments 7

Commenced in the year 2004 Bridge construction and Industrial Infrastructure Niche Segment – Turnkey Projects requiring Engineering solutions

Infrastructure Concrete Sleeper

Commenced in the year 1982 – One of the Pioneers Monoblock and Pre-Stressed Concrete Sleepers Integral to the laying of New Railway Tracks and renovation of Old Tracks

1. Infrastructure | Renowned Player for Integrated Solutions…

Straddles a wide range of niche project execution capabilities present in very few companies in the country

Involved in civil engineering projects pertaining to construction of Bridges, Railways, Roads, Urban-Transit and Industrial infrastructure

One of the only 3-4 companies which have constructed mega bridges for the Indian Railways

Steel Girder Bridges

Building of mega bridges with super steel structures across varied terrains

Railway Tracks

Gauge conversion of railway tracks including earthwork, blanketing and track lining

Bridges, Highways

Construction of bridges (RUB/ROB), elevated metro structures & concrete pavements for airports

Transportation / Industrial

Construction of railway sidings, merry-go-round railways and roads

8

…Having Demonstrated Engineering Skills in Turnkey Projects

Rail-cum-Road Ganga Bridge in Patna (Longest Steel Bridge in India)

Challenge

Massive volumes of steel fabrication & launching work for 4.6 km long bridge

Outcome

Successfully constructed the Longest Steel Bridge in India

Boler Bazar Road Bridge (Construction of 'Floating Caissons')

Challenge Interiors of Sunderban Delta; 9 mtr diameter wells in 15 mtr deep waters

Outcome

Innovative construction engineering of "floating caissons" with an effective approach

Barddhaman Cable-Stayed ROB (Completed ahead of schedule)

Challenge

Unconventional structure over electrified tracks on busy routes

Outcome

Constructed complex cable-styled bridges & completed before time

2. Concrete Sleeper | Among The Pioneers in India…

First few companies in India to commence manufacturing of Concrete Sleepers in 1982, a total capacity of ~0.2 Mn units

Enhancing global presence; export orders from countries like Bangladesh, Mozambique, Sri Lanka & Myanmar

Forayed into African markets via Joint Venture with local bodies and set up factories in South Africa and Namibia in 2009-10

India	Factory	Capacity(units p.a)	Commission(year)
	Panagarh,WB	480,000	1982
	Ikari, UP	400,000	2017
	Pahara,UP	400,000	2017
	Total	1,280,000

Africa	Factory	Capacity(units p.a)	Commission(year)
	SouthAfrica	500,000	2009
	Namibia	200,000	2010
	Total	700,000

…With a Strong Execution Track Record

Track record of timely delivery within Targeted Costs

Over 15 mn Sleepers delivered till over the past ~40 years

UP Sleeper Plant set-up in Record Time of 6-9 months

Growth Strategy

Capitalising on the burgeoning expansion in India

• Highest ever capital outlay in the Railway sector in India for 3 years and counting

• Government Focus on infrastructure resulting in high order inflows

Further enhance our project execution capabilities

• Extending our bidding discipline as we expand our operations
• Continuing the enhancement of average ticket size of our projects towards building credentials for larger projects – Rs 400 Mn pre 2015 to Rs 1,100 Mn in FY21

Improving our productivity and competitiveness

• Focus on increasing efficiency and competitiveness of operations by continuously investing in state of the art construction machinery and equipment and related processes

Continued Focus on Fiscal Discipline and Liquidity Management

• Continue to take steps to reduce costs, improve operational efficiencies and improve cash flows

Experienced Team at the Helm…

Dwarika Prasad Tantia Chairman

• With an experience of over 45 years, he leads the Company's growth initiatives
• Responsible for the Company's entry into the sleeper business both in India and internationally. He is the Hony. Consul of Ghana in Kolkata

Shree Gopal Tantia Managing Director

• 35 years experience in infrastructure
• Possesses strong project execution capabilities and manages the company's diversified customer relationship

Atul Tantia ED & CFO

• Graduated Magna Cum Laude from Wharton School in Finance and Systems Engineering
• Leads the manufacturing operations, finance and accounts along with managing relationships with banks and financial institutions

Vaibhav Tantia Director & COO

• Graduated Summa Cum Laude from Wharton School in Finance and Civil Engineering
• Leads the EPC segment including management of projects and business development

…Independent Board of Directors

Prasad Khandelwal Independent Director

• Is a fellow member and holds certificate of practice with the ICAI. Has wide knowledge on subjects like Union Budget, Accounting, Corporate Laws, Corporate Governance and Income Tax matters.

Shankar Jyoti Deb Independent Director

• Holds a Bachelor's degree in Science and Bachelor's degree in Civil Engineering. Has completed a financial management programme from IIM, Calcutta. Has wide experience in designing, engineering and implementation of civil projects

Mamta Binani Independent Director

• A fellow member and holds certificate of practice with the ICSI. Was President of ICSI in 2016 and has more than 15 years of experience in Corporate Consultation & Advisory

Sunil Patwari Independent Director

• Holds PGDM degree from IIM, Ahmedabad and is an associate member with ICAI. Has wide experience in the area of Business Management, Accounts, Taxation and Finance

Key Financial Metrics - Q1FY22

• The Infrastructure segment revenue grew by 63% YoY in Q1FY22. The segment formed 84% and 79% of total revenues in Q1FY22 and FY21 respectively
• The Sleeper segment revenue grew by 8% YoY in Q1FY22. The segment formed 16% and 21% of total revenues Q1FY22 and FY21

▪ EBIT margins have improved on the back of cost rationalisation measures and higher operating leverage in FY21 which continued in Q1FY22

Profit & Loss Highlights (Consolidated)

Particulars (Rs mn)	Q1FY22	Q1FY21	y-o-y %	Q4FY21	q-o-q %	FY21
Revenue	1,215.3	809.1	50.2%	2,122.6	-42.7%	6,092.3
Other income	7.5	29.0	-74.1%	18.5	-59.5%	60.0
Net Sales	1,222.8	838.1	45.9%	2,141.1	-42.9%	6,152.3
Operating expenses	1,024.8	660.4	55.2%	1,881.9	-45.5%	5,238.9
EBITDA	198.0	177.7	11.4%	259.1	-23.6%	913.3
EBITDA margin	16.29%	21.20%	-4.9%	12.11%	4.2%	14.85%
Depreciation	51.7	57.4	-9.9%	52.5	-1.5%	222.8
Finance Cost	92.3	97.2	-5.0%	86.7	6.5%	392.7
PBT	54.0	23.1	133.8%	119.9	-55.0%	297.8
Tax Expenses	17.8	4.4	304.5%	43.1	-58.7%	99.7
PAT	36.2	18.7	93.6%	76.8	-52.9%	198.1
PAT margin	2.96%	2.23%	0.7%	3.59%	-0.6%	3.22%
Share of Associate Profit & Minorities Interest	9.1	-1.9	578.9%	7.1	28.2%	4.0
PAT after Minorities	45.3	16.8	169.6%	83.9	-46.0%	202.2

• Significant increase in profit on Q1 FY22 witnessed compared to same quarter previous year.
• Primary reason for such increase is due to drop in depreciation and interest components.
• 170% increase in profit after tax witnessed compared previous year due to better operations

Profit & Loss Highlights (Standalone)

Particulars (Rs mn)	Q1FY22	Q1FY21	y-o-y %	Q4FY21	q-o-q %	FY21
Revenue	1,168.0	734.8	59.0%	2,036.85	-42.7%	5,730.78
Other income	9.5	28.9	-67.1%	37.17	-74.4%	89.11
Net Sales	1,177.6	763.7	54.2%	2,074.02	-43.2%	5,819.9
Operating expenses	985.1	612.3	60.9%	1815.20	-45.7%	4,968.77
EBITDA	192.5	151.4	27.1%	258.82	-25.6%	851.12
EBITDA margin	16.48%	19.82%	-3.3%	12.71%	3.8%	14.85%
Depreciation	37.4	45.0	-16.9%	39.26	-4.7%	169.73
Interest	90.6	95.5	-5.1%	85.20	6.3%	384.96
PBT	64.5	10.9	491.7%	134.26	-52.0%	296.33
Tax Expenses	21.6	3.3	554.5%	41.37	-47.8%	90.60
PAT	42.8	7.6	463.2%	92.88	-53.9%	205.73
PAT margin	3.66%	0.99%	2.7%	4.53%	-0.9%	3.58%

• Exceptional operational capabilities displayed during the quarter,
• Witnessing a rise of 54% in the total revenue compared to same quarter previous year
• Profit after tax has increased by 463% Y-o-Y

Balance Sheet Highlights (Consolidated)

Liabilities (Rs Mn)	Mar'21
Share Capital	291
Reserves	2,107
Shareholders' Funds	2,398
Minority Interest	27
Secured Loans	323
Trade payables	109
Deferred Tax Liabilities	40
Other liabilities	196
Long Term Provisions	45
Total Non-Current Liabilities	740
Trade Payables	1,360
Other Current Liabilities	525
Short Term Borrowings	2,214
Total Current Liabilities	4,099
Total Equity & Liabilities	7,237

Assets (Rs Mn)	Mar'21
Fixed Assets incl. CWIP	1,025
Investment in JV	258
Other Non Current Assets	911
Total Non-Current Assets	2,194
Inventories	944
Sundry Debtors	826
Cash and Bank	207
Short term Loans and Advances	25
Other Current Assets	3,040
Total Current Assets	5,042
Total Assets	7,237

• The Company has been able to reduce its average cost of debt and also improve upon the Current Ratio

Year Gone By – FY21

Profit After Tax (Rs Cr)

FY17 FY18 FY19 FY20 FY21

ROCE (%)

13 13

20

EBITDA Margin (%)

Gearing Ratio (x)

Net Worth (Rs Cr)

• EBIDTA margin stability expected at 14-15%
• Maintaining a decent liquidity ratio to ensure short term obligations are met smoothly

16

21

Healthy Order Book of ~Rs 18.6 Bn as of June 30, 2021

Key Projects Bagged during FY21 – Additional Order inflow in Q1 – Rs 1.59 Bn

Scope of Work	Segment	City/State	Value(Rs Mn)
Construction of Important bridge No. 1367/2on Yamuna river	Infra	Jhansi, UttarPradesh	2,450
Widening of 2-lane with hard shoulder on NH102B (two orders –section wise)	Infra	Manipur	1,723
Construction of Metro Railway Viaduct	Infra	Kolkata, WestBengal	1,602
Repair and Rehabilitation of 2nd HooghlyBridge	Infra	Kolkata, WestBengal	1,612
Construction of Road Bridge for NF Railway	Infra	Guwahati,Assam	493
Supply, fabrication, assembling & erection ofnew Bridge on Yamuna river	Infra	Agra, UttarPradesh	154

Infrastructure Order Book – Segment wise

22

Some of the Key Projects Under Execution

Key Projects Under Execution in the Current Fiscal

Scope of Work	Client	Value(Rs Mn)
Infrastructure
Rail-cum-Road bridge in Ghazipur	RVNL	2,168
Steel Structures at Mathura-Jhansi 3rdLine	RVNL	1,802
Construction of ROB and its approaches	PWD	1,524
Rehabilitation of 2ndHooghly Bridge	HRBC	1,612
Concrete Sleeper
Sleeper for Eastern DFC Project	GMR	981
Supply of Concrete Sleepers	Transnet(SA)	1,241

Glimpse of Execution Progress

Greater Thrust on Railways Offers Significant Opportunity

Our Clientele

GPT Infraprojects Limited (BSE / NSE CODE: 533761 / GPTINFRA)

• Atul Tantia Pooja Agarwal
  • atul@gptgroup.co.in pooja.a@gptgroup.co.in

Stellar IR Advisors Pvt. Ltd. (Investor Relations)

• Gaurang Vasani Pooja Sharma
• vgaurang@stellar-ir.com pooja.sharma@stellar-ir.com

GPT Infraprojects Limited CIN: L20103WB1980PLC032872

• GPT Centre, JC-25, Sector-III, Salt Lake, Kolkata-700106, West Bengal
• +91 33 4050 7000
• www.gptinfra.in