KNR Constructions Limited — Investor Presentation 2018

Nov 12, 2018

Date: 12thNovember 2018 Ref: KNRCL/SD/2018/131 & 132

To Dept. of Corporate Services, BSELimited P J Towers, Dalal Street, Fort, MUMBAI - 400001

Fax: +91 - 22- 2272 2037 / 39 / 41 +912222723121 / 3719 / 1557

To National Stock Exchange of India Limited "Exchange Plaza", Bandra Kurla Complex, Bandra (E), MUMBAI - 400051

Fax: +91- 22- 6641 8124 / 25/26 +91 2226598237 I 38, +91 22 2659 8347 / 48

Sir,

Sub:- Investors presentation - November 2018

Ref: - Listing Regulations BSE Code: 532942, NSE Symbol: KNRCON

With reference to the above, please find attached the latest investors' presentation.

This is for your information and records

Yours truly, for KNR Constructions Limited

~ ,\1,\1 en\c.'eA.A.

M-,V. VENKA TA RAO Company Secretary

NOVEMBER 2018

Investor Presentation

Disclaimer

This presentation and the accompanying slides (the "Presentation"), which have been prepared by KNR Constructions 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 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.

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 guarantees 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.

KEY HIGHLIGHTS & RESULT UPDATE

Standalone Financial Highlights

H1 FY18 H1 FY19

1,930

8,741 9,726 +11% 1,670 +16%

* Revenue from operations for the half year ended 30th September, 2017 includes Rs. 168 million from the claims received by two Joint Ventures

H1 FY18 H1 FY19

Rs. Million	Q2 FY19	Q2 FY18	YoY	H1 FY19	H1 FY18	YoY
Net Sales	4,141.5	3,909.4		9,614.3	8,546.8
Other Operating Income *	21.4	24.0		112.2	194.1
Total Revenue	4,162.9	3,933.4	6%	9,726.5	8,740.9	11%
Operating Expenses	2,630.0	2,511.4		6,215.2	5,952.0
Employees Expenses	249.3	192.6		445.2	340.7
Other Expenditure	452.2	404.5		1,136.1	778.0
EBITDA	831.4	824.9	1%	1,930.0	1,670.2	16%
EBITDA margin	20.0%	21.0%		19.8%	19.1%
Other Income	88.1	26.9		265.8	149.5
Depreciation	392.6	235.3		752.7	479.0
Interest	74.2	42.6		146.2	94.5
PBT	452.7	574.0	-21%	1,296.9	1,246.1	4%
Tax
Current Tax	89.4	11.1		247.1	48.5
Prior Period Tax	-	-		-	-1.7
Deferred Tax	-86.7	-27.8		-140.3	-67.2
Profit After Tax	450.0	590.7	-24%	1,190.1	1,266.6	-6%
PAT margin	10.8%	15.0%		12.2%	14.5%
Other Comprehensive Income	-3.2	1.1		-6.3	2.4
Total Comprehensive Income	446.9	591.8	-24%	1,183.7	1,269.0	-7%

* Other Operating Income includes Rs. 168 million from the claims received by two Joint Ventures in H1 FY18

Standalone Balance Sheet

ASSETS (Rs. Millions)	Sept-18	Mar-18
Non-Current Assets
Property, plant and equipment	3,421.0	3,313.7
Capital work-in-progress	6.0	0.2
Investment property	625.0	620.4
Other Intangible assets	1.5	1.5
Financial Assets
Investments	178.5	176.5
Other Investments	5,275.2	4,923.4
Loans	13.7	16.3
Other financial assets	22.1	25.5
Deferred tax assets (Net)	1,581.6	1,407.6
Non currenttaxassets (Net)	94.0	76.1
Other non-current assets	961.4	824.1
Total Non-current assets	12,180.0	11,385.4
Current assets
Inventories	841.4	711.8
Financial assets
Other Investments	1,380.5	256.1
Trade receivables	1,070.7	2,319.8
Cash and cash equivalents	507.6	370.6
Bank Balances	67.8	67.8
Loans	173.3	263.1
Other financials assets	1,836.0	1,539.2
Current tax assets (Net)	28.8	89.3
Other current assets	2,571.0	2,655.2
Total Current assets	8,477.1	8,273.0
TOTAL ASSETS	20,657.1	19,658.4

EQUITY & LIABILITIES (Rs. Millions)	Sept-18	Mar-18
Equity
Equity Share capital	281.2	281.2
Other equity	12,413.0	11,297.1
Total equity	12,694.2	11,578.3
Liabilities
Non-current liabilities
Financial liabilities
Borrowings	2,242.1	2,118.5
Trade Payables	82.7	82.7
Other financial liabilities	27.2	27.2
Provisions	48.8	42.2
Other non-current liabilities	132.5	132.5
Total non-current liabilities	2,533.3	2,403.0
Current liabilities
Financial liabilities
Borrowings	-	-
Trade Payables	1,718.6	2,101.7
Other financial liabilities	1,271.2	1,171.3
Provisions	144.7	142.1
Current Tax Liability (net)	2,286.0	2,244.0
Other current liabilities	9.0	18.0
Total current liabilities	5,429.5	5,677.1
TOTAL EQUITY AND LIABILITIES	20,657.1	19,658.4

KNR Constructions Limited

6

• The company has received 5 HAM Road Projects worth of Rs. 56,112.10 million (BPC)
• Received Sanction for 4 NHAI HAM Projects from Banks and awaiting Signing of Concession Agreement for KSHIP HAM Project
• The Company has been awarded as the "2nd Fastest Growing Construction Company (Medium Category)" and "India's Top Challengers" at Construction World Global Awards 2018
• The Company received an Award for "Best Executed Irrigation Project of the year 2018 – Kaleshwaram Project" from Construction Times Awards 2018

BUSINESS OVERVIEW

One of the leading companies providing Engineering, Procurement and Construction (EPC) services

Major Projects in Roads & Highways – one of the fast growing sector Established presence in Irrigation and Urban Water Infrastructure Management

20 years of experience of project execution

Successfully executed more than ~6,000 lane km Road Projects Projects executed across 12 states in India

Portfolio of BOT Projects

778 lane Kms Projects in the state of Telangana, Karnataka, Kerala & Bihar 2 Annuity based Projects & 2 Toll based projects completed 4 HAM projects for which financial closure is under-progress & 1 HAM Project for which LOA has been received

Strong EPC Order-book

Rs. 18,315 mn as on 30th September, 2018 comprising of Rs. 13,685 mn in Roads sector, Rs. 4,613 mn in Irrigation and Rs. 17 mn in others

VISION

To develop KNRCL as a Centre of excellence in the field of Infrastructure. To add more business verticals to the organization in the fields of construction of Elevated Metro Rail and Railway Projects

9

KNR Constructions Limited

10

Transformation

1995

2006

2007

• Incorporated & Commenced EPC Business
• Bagged 1st BOT Project in Karnataka worth Rs. 4,420 mn; Entry into Urban water Infrastructure with contract in Bangalore
• Bagged 2nd BOT project worth Rs.5,920mn in Telangana
• 2008 IPO & Listed on BSE and NSE

• Bagged an EPC Project worth Rs. 9,371 mn for Madurai – Ramanathapuram Section of NH-49 in the State of Tamil Nadu under NHDP Phase-III

• Received the biggest work

Hungund Road project

• Early completion of Biggest Road Project – Bijapur

schedule

Hungund Section of Rs. 8,250 mn - 11 months ahead of

• Bagged 3rd BOT Toll project worth Rs. 9,005 mn in Kerala

with a order value of Rs. 8,250 mn from Sadbhav Engineering Ltd for construction of Bijapur

Management

Mr. K. Narasimha Reddy – Founder Promoter & Managing Director

Over 50 years of experience in the Highway sector

Started career in 1968 and engaged in the business of undertaking civil and mechanical contracts Extensive knowledge and experience in multi project planning Scheduling, cost controls in addition to overall construction and multi project management & driving force in taking the company towards greater heights

Mr. K. Jalandhar Reddy – Promoter & Executive Director

• Over 25 years of experience in the Highway and infrastructure sector
• Started his career with the organisation as a project Manager and was elevated to Executive Director on April 1, 1997
• Heads the tendering and bidding activities and is in charge of most of the projects

Supported by Professional Team

Mr. T.L. Verma (Vice President - Projects)

A Bachelor of Engineering (BE) from MITS Gwalior (MP) with Over 35 years of total experience with ~20 years of experience in Highway sector

Working with the company since 2006 on various projects i.e. Bridges and Highways, including construction of Concrete Roads

Mr. S Vaikuntanathan (VP - Finance)

A Fellow Member of the Institute of Chartered Accountants of India with 39 years of experience in the areas of finance, accountancy and taxation

Has the overall responsibility for the finalization of corporate accounts, taxation, finance and related jobs

Mr. D. Tirupathi Reddy (GM – Projects)

• Over 24 years of rich experience in various fields of Civil Engineering
• Working with the company since 14 years as contract specialist and tendering & procurement expert

Mr. M.V. Venkata Rao (Company Secretary)

• A Fellow Member of the Institute of Company Secretaries of India
• Working with the company since 2007 and has the overall responsibility towards compliance of Rules & Regulations laid down by various authorities

KEY BUSINESS STRENGTHS

1 SIGNIFICANT EXPERIENCE AND STRONG TRACK RECORD IN TIMELY EXECUTION OF PROJECTS

14

Project Execution

• Top management's active involvement at all stages of Project execution
  • o Selection of Major Raw Material
  • o Selection of construction Camp location
• Faster Decision making to ensure project completion on schedule
• Received Bonus for completion of construction ahead of schedule

Pan India Project Execution* Capability

		.

Uttar Pradesh
No of Projects	4
Value of Projects	Rs. 1,704 mn

Madhya Pradesh
No of Projects	5
Value of Projects	Rs. 7,941 mn

Karnataka
No of Projects	14
Value of Projects	Rs. 21,084 mn

Kerala
No of Projects	3
Value of Projects	Rs. 7,905 mn

Arunachal Pradesh
No of Projects1
Value of ProjectsRs. 920 mn

Assam
No of Projects	2
Value of Projects	Rs. 1,913 mn

Chhattisgarh
No of Projects	1
Value of Projects	Rs. 264 mn

Odisha
No of Projects	1
Value of Projects	Rs. 2,313 mn

AP & Telangana
No of Projects	8
Value of Projects	Rs. 15,771 mn

Disclaimer: Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness

Cement Concrete Road

• Completed Widening to 4/6 lanes and Strengthening of Existing two lane carriageway of NH 5 in the State of Orissa for a length of 56.0 Kms with total contract value of work is Rs 2,310 mn
• Existing road was widened & strengthened with flexible pavement but, new 2- lane road was constructed with concrete (PQC)
• Concrete road was paved for a width of 8.75m with G&Z slip form paver having automatic device for placement of tie bars and dowel bars at fixed interval
• Concreted Batching Plant was installed with a capacity compatible with the paving capacity of G&Z paver for better quality control of PQC Road

Hard Rock Excavation

• 2.6 Millions Cubic Meters deep hard rock excavation was done in the work of four laning of Islam Nagar (KM 230.00) to Kadtal (KM 278.00) of Nagpur –Hyderabad Section on NH-7 in the State of Telangana

WORLD CLASS CONSTRUCTION EQUIPMENTS USE OF RIGHT TOOLS FOR 17

RIGHT WORK

KNR Constructions Limited

In-house Construction Equipment

Sl. No.	Name Of The Machinery	Qty

	Gross Block of Plant & Machinery *	Rs 8,197.2 mn
26	Light Soures	18
25	Transformers	12
24	Sweeping Machines	7
23	Compressors	17
22	CurblayingMachine	6
21	Weigh Bridges	22
20	Sprayers	4
19	Generators	161
18	Drum Mix Plants	6
17	Wet Mix Plants	9
16	Dozers	22
15	Drillers & Breakers	60
14	Hot Mix Plants	10
13	Batching Plants	36
12	Rollers	21
11	Trailers	18
10	Cranes	42
9	Tractors	33
8	Graders	46
7	Crushers	20
6	Pavers	36
5	Loaders	54
4	Concrete Mixers And Pumps	110
23	ExcavatorsCompactors	25199
1	Tippers & Tankers	851

3 IN-HOUSE TEAM OF 1,300 QUALIFIED AND EXPERIENCED EMPLOYEES 18

LED BY PROVEN MANAGEMENT TEAM

In-house Execution Team

KNR Constructions Limited

4 19 HOST OF MARQUE CLIENTS

KNR Constructions Limited

Reputed Clientele

Bruhat

Bangalore Mahanagara Palike (BBMP)

National Highways Authority of India (NHAI)

Road Development Corporation (APRDC)

Madhya Pradesh Road Development Corporation Limited (MPRDCL)

Engineers India Limited (Government of India Undertaking)

Ministry of Road Transport & Highways (MoRTH)

Hyderabad Growth Corridor Limited (HGCL)

Karnataka State Highway Improvement Project (KSHIP)

Karnataka Road Development Corporation (KRDCL)

Uttar Pradesh State Highways Authority (UPSHA)

Sadbhav Engineering Limited

NMDC Limited A.P. Irrigation (Government of Andhra Pradesh)

Public Works Department (Government of Arunachal Pradesh)

GMR Projects Private Limited

Oriental Structural Engineers Pvt. Ltd.

BOT PORTFOLIO

BOT Portfolio – Annuity Projects

	Particulars	PatelKNR Infrastructures limited (PKIL)	PatelKNR Heavy Infrastructures Limited (PKHIL)
s	Stake	40%	40%
ailt	Project Type	Road-Annuity	Road-Annuity
eDt	State	Karnataka	Telangana
ce	JV Partner	PEL	PEIL
ojr	Client	NHAI	NHAI
P	Length (KM)	60.00	53.00
s	Concession Start Date	26thMarch2007	nd2March 2008
mre	Concession Period	20 Years	20 Years
T	COD	21stDecember 2009	11thJune 2010
	Project Cost (Rs. mn)	4,420.00	5,920.00
sal	Equity (30.09.2018) (Rs. mn)	370.00	648.70
cina	Debt(30.09.2018) (Rs. mn)	2,644.60	4,040.30
nFi	Securitized	Yes*	Yes**
	Semi-Annutiy -36 Instalments (Rs. mn)	329.4	443.7

* PKIL securitized its project loan through issuance of non-convertible debentures to LIC of India & raised Rs. 4,090 mn in April 2010. The said proceeds were used to retire the existing high cost project loan and unsecured loans of promoters and to meet the issue expenses.

**PKHIL securitized its project loan through issuance of non-convertible debentures to L&T Infrastructures Finance Company Limited and raised Rs 4000 mn in Sept. 2013. The said proceeds were used to retire the existing high cost project loans (Other than the ECB of USD 25 Millions availed from the Standard Chartered Bank , London) and unsecured loans of promoters and to meet the issue expenses.

BOT Portfolio – Toll Projects

	Particulars	KNR Walayar Tollways Private Limited	KNR MuzaffarpurBarauniTollwayPrivate Limited
	Stake	100%	51%
sail	Project Type	Road-Toll	Road-Toll
te	State	Kerala	Bihar
Dtc	JV Partner	-	JKM Infra Project Ltd
eoj	Client	NHAI	NHAI
rP	No of Lanes	Two to Four	Two
	Length(KM)	54	108
	Concession Start Date	18thMay2013	8th July 2012
sm	Concession Period	20 Years	21 Years
reT	Scheduled COD	15th Nov. 2015	9th July 2014
	Actual Scheduled COD	31stOct. 2015	3rd June 2016
	Revenue Sharing	Grant	Premium
	Project Cost (Rs. mn)	9,005.1	3,596.8 /Revised: 4,588.6)
sal	Equity (30.09.2018) (Rs. mn)	3,974.1*	1,771.5
ci	Debt (30.09.2018) (Rs. mn)	1,640.0	3,099.9
nan	Status	100% COD issued on 31st Oct. 2015	100% PCOD issued on 24th August 2017
Fi	TollRevenue –Q2FY19 & H1 FY19(Rs. mn)	Q2 FY19: 137.8H1 FY19: 291.9	Q2 FY19: 146.7H1 FY19: 358.4

HAM Portfolio

	Particulars	Trichy to Kallagam	Meensuruttito Chidambaram	Chittorto Mallavaram	Ramsanpalleto Mangloor	Magadito Somwarpeth
	Stake	100%	100%	100%	100%	100%
	Project Type	Hybrid Annuity	Hybrid Annuity	Hybrid Annuity	Hybrid Annuity	Hybrid Annuity
ailte	State	Tamil Nadu	Tamil Nadu	Andhra Pradesh	Telangana	Karnataka
Dtc	Client	NHAI	NHAI	NHAI	NHAI	KSHIP
eojrP	No of Lanes	Four	Two	Six	Four	Two
	Length(KM)	38.7	31.5	61.1	46.8	166.0
	Concession Period	17 Years	17 Years	17.5 Years	17 Years	9 Years
	Bid Project Cost (Rs. mn)	10,206.0	4,820.4	17,300.7	12,340.0	11,445.0
	Total Project Cost (Rs. mn)	9,099.8	4,316.4	14,555.0	10,456.2	10,152.7*
salci	Grant (Rs. mn)^	4,317.5	2,041.4	7,392.5	5,244.9	7,485.0*
nanFi	Estimated Equity (Rs. mn)	962.3	455.0	1,432.5	1,042.3	533.5*
	Estimated Debt (Rs. mn)	3,820.0	1,820.0	5,730.0	4,169.0	2,134.2*
	Status	Financial Closure in Progress, Received Sanctions from Banks			LOA Received

*subject to Financial Closure

^Grant includes estimated Price Index Multiple of Rs. 1,129.5 mn

• KNR Walayar Tollways Private Limited is a wholly owned subsidiary of KNR Constructions Limited, incorporated as an SPV for execution of Walayar Road Project
• Completion Certificate for 100% of Project length has been issued for the project on 31st October 2015
• Caters to commercial traffic towards Kochi Port and Kochi International Container Transhipment Terminal
• The project road serves as an arterial link to most of the important southern cities such as Salem, Erode, Coimbatore,

Trissur, Palakkad, Kochi, Alappuzha, Kollam, Thiruvananthapuram and Nagercoil

Major industries like Wise Park, HP Gas Plant, ITI, BPL, UB, Instrumentation Limited, Percot Meridan, BEML etc. are located in this section

The work is completed one month ahead of scheduled date of completion

KNR Muzaffarpur Barauni Tollway Private Limited is a Step down subsidiary of KNR Constructions Limited, incorporated

as an SPV for execution of Muzaffarpur -Barauni Road project on BOT (Toll) basis

• Provisional Completion Certificate for 75% of Project length has been issued for the project on 3rd June 2016
• Provisional Completion Certificate for 100% of Project length has been received for the project on 24th August 2017 & 100% Toll Collection has commenced from 1st October 2017
• Project starts at Muzaffarpur and ends at Barauni. The project corridor is located in the state of Bihar and passes through three districts namely Muzaffarpur, Samastipur and Begusarai
• Muzaffarpur is an important place for wholesale cloth trade and the largest city of northern Bihar while Barauni city is situated on holy river Ganga and also an important industrial city of Bihar having major industrial units such as IOC refinery, Barauni Thermal Power Plant, Hindustan Fertilizers Corporation and Barauni Dairy

ORDER BOOK & BUSINESS STRATEGY

26

Order-book Break-up

KNR Constructions Limited

28

Order-book Highlights

Key Projects	Rs. mn
Hubli–HospetSectionofNH-63	4,635
ThiruvananthapuramBypass	2,319
StateRoadfromGobuk–Mariyang–SijhonNallahinArunachalPradesh	1,740
ConstructionofTwoTierFlyoverinSalamCity	1,250
Dindigul-BangaloreRoad(PollachitoCoimbatoreSection)	1,239
Top5 Road Projects	11,183
OtherRoad Projects	2,502
Irrigation Projects	4,613
Other Projects	17
Total	18,315

Roads - Non Captive 75% Irrigation 25% Others 0%

	HAM Projects Won
--	------------------

HAM Order Wins	Bid Project Cost(Rs. mn)
4 Laningof Trichy to KallagamSection of NH-227 under BhartmalaPariyojana(Residual Project under NHDP) in the state of Tamil Nadu	10,206.0
2 Laningwith Paved Shoulder of Meensuruttito ChidambaramSection of NH-227 under BhartmalaPariyojana, Phase I (ResidualProject under NHDP) in the state of Tamil Nadu	4,820.4
6 Laningof Chittorto Mallavaramsection of NH-140 from underBhartmalaPariyojanain the state of Andhra Pradesh	17,300.7
4 laningof Ramsanpalleto Mangloorsection of NH-161 underBharatmalaPariyojanain the State of Telangana	12,340.0
Two laningwith paved shoulders of Magadito near SomwarpethInthe State of Karnataka	11,445.0
Total	56,112.10

^ - Estimated EPC Value subject to Financial Closure of 1 KSHIP HAM Projects - Not included in orderbook yet

Order-book: State-wise

Karnataka
No of Projects	9
Balance Value	Rs. 5,551 mn

Kerala
No of Projects	3
Balance Value	Rs. 2,338 mn

ArunachalPradesh
No of Projects	1
Balance Value	Rs. 1,740 mn

AP & Telangana
No of Projects	7
Balance Value	Rs. 4,712 mn

TamilNadu
No of Projects6
Balance Value	Rs. 3,974 mn

Rs. Million	FY18	FY17	YoY
Net Sales	18,756.4	15,325.4
Other Operating Income *	560.2	85.1
Total Revenue	19,316.6	15,410.5	25%
Operating Expenses	12,854.4	11,145.1
Employees Expenses	721.2	552.4
Other Expenditure	1,879.7	1,417.3
EBITDA	3,861.3	2,295.8	68%
EBITDA margin	20.0%	14.9%
Other Income	393.1	302.8
Depreciation	1,341.5	638.7
Interest	231.4	219.0
Exceptional Items	-	108.7
PBT	2,681.5	1,632.2	64%
Tax
Current Tax	195.8	120.9
Prior Period Tax	-1.9	-0.2
Deferred Tax	-233.2	-61.0
Profit After Tax	2,720.9	1,572.5	73%
PAT margin	14.1%	10.2%
Other Comprehensive Income	-12.7	5.1
Total Comprehensive Income	2,708.2	1,577.6	72%
Adjusted PAT**	2,720.9	1,681.2	62%
Adjusted PAT Margin	14.1%	10.9%

* Other Operating Income includes Rs. 168 million from the claims received by two Joint Ventures in Q1FY18

** Adjusted PAT = PAT + Exceptional Items

Standalone Balance Sheet

ASSETS (Rs. Millions)	Mar-18	Mar-17
Non-Current Assets
Property, plant and equipment	3,313.7	2,606.9
Capital work-in-progress	0.2	15.3
Investment property	620.4	614.8
Other Intangible assets	1.5	0.2
Financial Assets
Investments	176.5	174.5
Other Investments	4,923.4	4,623.0
Loans	16.3	31.3
Other financial assets	25.5	138.4
Deferred tax assets (Net)	1,407.6	815.5
Non currenttaxassets (Net)	76.1	405.9
Other non-current assets	824.1	275.4
Total Non-current assets	11,385.4	9,701.1
Current assets
Inventories	711.8	573.6
Financial assets
Other Investments	256.1	553.4
Trade receivables	2,319.8	1,639.6
Cash and cash equivalents	370.6	164.4
Bank Balances	67.8	82.0
Loans	263.1	317.7
Other financials assets	1,539.2	1,316.0
Current tax assets (Net)	89.3	47.5
Other current assets	2,655.2	1,784.1
Total Current assets	8,273.0	6,478.2
TOTAL ASSETS	19,658.4	16,179.3

EQUITY & LIABILITIES (Rs. Millions)	Mar-18	Mar-17
Equity
Equity Share capital	281.2	281.2
Other equity	11,297.1	8,673.5
Total equity	11,578.3	8,954.7
Liabilities
Non-current liabilities
Financial liabilities
Borrowings	2,118.5	1,302.8
Trade Payables	82.7	82.7
Other financial liabilities	27.2	32.1
Provisions	42.2	17.3
Other non-current liabilities	132.5	182.4
Total non-current liabilities	2,403.0	1,617.3
Current liabilities
Financial liabilities
Borrowings	-	-
Trade Payables	2,101.7	1,343.9
Other financial liabilities	1,171.3	1,784.5
Provisions	142.1	128.1
Current Tax Liability (net)	2,244.0	2,350.8
Other current liabilities	18.0	-
Total current liabilities	5,677.1	5,607.3
TOTAL EQUITY AND LIABILITIES	19,658.4	16,179.3

Long Term Bank Loan Facilities are rated as A+ 'Positive' and Short Term Bank Loan Facilities are rated as A1+ by Crisil Ratings

Consolidated Financial Results

Rs. Million	FY18	FY17	YoY
Total Revenue	20,696.0	16,795.9	23%
Operating Expenses	13,390.5	11,893
Employees Expenses	739.6	586
Other Expenditure	2,081.1	1,678
EBITDA	4,484.76	2,639.62	70%
EBITDA margin	21.7%	15.7%
Other Income	557.9	329.6
Depreciation	1,936.0	1,156.3
Interest	825.0	726.7
Exceptional Item*	-	108.7
Share of Profit / (loss) of associates	0.6	79.8
PBT	2,282.2	1,057.3	116%
Tax
Current Tax	219.2	131.1
Prior Period Tax	-2.3	-0.2
Deferred Tax	-224.2	-61.0
Profit After Tax	2,289.5	987.5	132%
PAT margin	11.1%	5.9%
Other Comprehensive Income (Net of Tax)	-12.3	4.8
Total Comprehensive Income	2,277.2	992.3	129%

*During FY17, the Company has entered a Share Purchase Agreement for sale of its equity in two BOT annuity projects and correspondingly impairment in value of investment has been provided.

Consolidated Balance Sheet

Mar-18	Mar-17
3,336.9	2,630.9
11.5	26.6
650.1	644.5
9,426.4	9,009.0
-	886.0
351.1	281.6
25.5	138.4
1,407.7	826.0
121.4	474.5
877.0	320.2
16,207.7	15,237.7
750.5	805.4
175.5	454.3
2,691.4	1,816.9
449.9	252.3
69.9	85.9
263.1	317.7
1,606.4	1,325.0
199.3	116.8
3,666.0	2,010.0

EQUITY & LIABILITIES (Rs. Millions)	Mar-18	Mar-17
Equity
Equity Share capital	281.2	281.2
Instruments Entirely Equity in nature	85.0	85.0
Other equity	10,111.4	7,773.0
Non-controlling Interests	500.6	645.9
Total equity	10,978.3	8,785.2
Liabilities
Non-current liabilities
Financial liabilities
Borrowings	7,419.3	6,981.6
Trade Payables	82.7	82.7
Other financial liabilities	3.8	8.6
Provisions	173.3	60.4
Other non-current liabilities	132.5	182.3
Total non-current liabilities	7,811.5	7,315.7
Current liabilities
Financial liabilities
Borrowings	-	-
Trade Payables	2,476.2	1,646.2
Other financial liabilities	1,594.4	2,039.2
Provisions	216.3	128.1
Current Tax Liability (net)	2,985.1	2,507.0
Other current liabilities	18.0	0.6
Total current liabilities	7,290.0	6,321.1

TOTAL EQUITY AND LIABILITIES 26,079.8 22,421.9

TOTAL ASSETS	26,079.8	22,421.9

Standalone Financial Highlights*

Financial Year	2010	2011	2012	2013	2014	2015	2016^	2017^	2018^
	Rs. 7,125	Rs. 7,930	Rs. 7,505	Rs. 6,921	Rs. 8,348	Rs. 8,761	Rs. 9,025	Rs. 15,411	Rs. 19,317
Turnover	$118.6	$132.0	$125.0	$115.2	$139.0	$140.0	$136.1	$238.3	$296.9
	Rs. 1,121	Rs. 1,356	Rs. 1,338	Rs. 1,164	Rs. 1,258	Rs. 1,261	Rs. 1,529	Rs. 2,296	Rs. 3,861
EBITDA	$18.7	$22.6	$22.3	$19.4	$20.9	$20.1	$23.1	$35.5	$59.3
Profit before Tax	Rs. 826	Rs. 897	Rs. 784	Rs. 670	Rs. 669	Rs. 723	Rs. 1,291	Rs. 1,632	Rs. 2,682
(PBT)	$13.8	$14.9	$13.1	$11.2	$11.1	$11.6	$19.5	$25.2	$41.2
	Rs. 503	Rs. 568	Rs. 528	Rs. 521	Rs. 610	Rs. 730	Rs. 1,611	Rs. 1,573	Rs. 2,721
Profit after Tax (PAT)	$8.4	$9.5	$8.8	$8.7	$10.2	$11.7	$24.3	$24.3	$41.8
	Rs. 3.58	Rs. 4.04	Rs. 3.75	Rs. 3.71	Rs. 4.34	Rs. 5.19	Rs. 11.45	Rs. 11.18	Rs. 19.35
EPS	$0.05	$0.06	$0.06	$0.06	$0.07	$0.08	$0.18	$0.17	$0.30
	Rs. 3,008	Rs. 3,520	Rs. 4,024	Rs. 4,521	Rs. 5,106	Rs. 5,837	Rs. 7,377	Rs. 8,955	Rs. 11,578
Net Worth	$50.1	$58.6	$67.0	$75.3	$85.0	$93.3	$111.2	$138.5	$177.9
	Rs. 740	Rs. 735	Rs. 555	Rs. 710	Rs. 867	Rs. 963	Rs. 1,125	Rs. 1,303	Rs. 2,118
Debt	$12.3	$12.2	$9.2	$11.8	$14.4	$16.0	$16.9	$20.2	$32.5
Debt to Equity	0.25	0.21	0.14	0.16	0.17	0.17	0.15	0.14	0.18

From FY10 to FY14 1 USD = Rs. 60.059 FY15 – 1USD = Rs. 62.58; FY16-1 USD = Rs. 66.32; FY17-Rs. 64.66; FY18-Rs. 65.07 ^ Based on IndAS

* Above financials are based on I GAAP All figures in Rupees million except EPS & Debt to Equity

Standalone Financial Highlights

Rs. in Million * - Includes Early Completion Bonus of Rs. 490 million

Standalone Net Working Capital Days

Shareholding Pattern as on 30th September 2018

PUBLIC & OTHERS

Shareholders Holding more than 1% of the Equity(Other than Promoters)	% to Equity
HDFC Mutual Fund	6.76%
ICICI Mutual Fund	6.42%
DSP Blackrock Mutual Fund	6.11%
L&T Mutual Fund	2.47%
Tata Mutual Fund	1.71%
Franklin Mutual Fund	1.66%
Tata AIA Life Insurance	1.55%
Total	26.68%

• Strong growth opportunity in development of Agricultural Infrastructure
• Execution of Irrigation & Water Supply Projects with Joint Venture Partners
• Executed 3 Projects in Telangana & 1 Project in Bihar
• Executed an Urban Water Infrastructure project in the State of Karnataka

Irrigation & Water Management Projects And Urban Water Infrastructure Management

PROJECT GALLERY

Completed Projects

Eturunagaram Bridge over river Godavari KNR Walayar Toll Road

Completed Projects

Walayar Toll plaza Muzaffarpur-Barauni Road Project

Under-Construction Projects

45

Coimbatore Flyover Coimbatore Flyover

Under-Construction Projects

46

Salem Flyover Flyover in Madurai - Ramanathpuram Section

Equipments

Irrigation Projects

Palamurru lift Irrigation

Irrigation Projects

Palamurru lift Irrigation

For further information, please contact

Company :	Investor Relations Advisors:
KNR Constructions Ltd.CIN: L74210DL1995PLC238364	Strategic Growth Advisors Pvt. Ltd.CIN: U74140MH2010PTC204285
Mr.K. VenkataRam Rao	Mr.Jigar Kavaiya / Mr. Rohan Adhiya
(GM -Finance & Accounts)	+91-9920602034 / +91 9833219522
venkatram@knrcl.com	Jigar.kavaiya@sgapl.net / rohan.adhiya@sgapl.net
www.knrcl.com	www.sgapl.net