Welspun Enterprises Limited has informed the Exchange about Investor Presentation
WEL/SEC/2022
November 22, 2022
To,
BSE Limited 1st Floor, Rotunda Bldg, Dalal Street, Fort, Mumbai - 400 001. Scrip Code: 532553
Dear Sir/Madam,
National Stock Exchange of India Limited Exchange Plaza, C-1, Block-G, Bandra Kurla Complex, Bandra (East), Mumbai - 400 051. NSE Symbol: WELENT
Subject: Intimation of Schedule of Analyst / Institutional Investor Meetings under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
Further to our letter dated November 21, 2022 on the subject, please find attached herewith the presentation to the investors attending the meeting today. The presentation is being uploaded simultaneously on the Company website (www.welspunenterprises.com).
Please take the same on record.
Thanking you.
For Welspun Enterprises Limited
Priya Pakhare Company Secretary FCS – 7805
PS: Mr. Abhinandan Singh abhinandan_singh@welspun.com / +919820293450
(Head, Group
Investor Relations, Welspun Group) at
WELSPUN ENTERPRISES LIMITED
BSE: 532553 | NSE: WELENT |ISIN: INE625G01013
Investor Presentation
N o v e m b e r 2 0 2 2
Safe Harbor
The information contained in this presentation is provided by Welspun Enterprises Limited (the “Company”). Although care has been taken to ensure that the information in this presentation is accurate, and that the opinions expressed are fair and reasonable, the information is subject to change without notice, its accuracy, fairness or completeness is not guaranteed and has not been independently verified and no express or implied warranty is made thereto. You must make your own assessment of the relevance, accuracy and adequacy of the information contained in this presentation and must make such independent investigation as you may consider necessary or appropriate for such purpose. Neither the Company nor any of its directors assume any responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information or opinions contained herein. Neither the Company nor any of its directors, officers, employees or affiliates nor any other person accepts any liability (in negligence, or otherwise) whatsoever for any loss howsoever arising from any use of this presentation or its contents or otherwise arising in connection therewith.
The statements contained in this document speak only as at the date as of which they are made, and the Company expressly disclaims any obligation or undertaking to supplement, amend or disseminate any updates or revisions to any statements contained herein to reflect any change in events, conditions or circumstances on which any such statements are based. By preparing this presentation, none of the Company, its management, and their respective advisers undertakes any obligation to provide the recipient with access to any additional information or to update this presentation or any additional information or to correct any inaccuracies in any such information which may become apparent. This document is for informational purposes and does not constitute or form part of a prospectus, a statement in lieu of a prospectus, an offering circular, offering memorandum, an advertisement, and should not be construed as an offer to sell or issue or the solicitation of an offer or an offer document to buy or acquire or sell securities of the Company or any of its subsidiaries or affiliates under the Companies Act, 2013, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, both as amended, or any applicable law in India or as an inducement to enter into investment activity. No part of this document should be considered as a recommendation that any investor should subscribe to or purchase securities of the Company or any of its subsidiaries or affiliates and should not form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This document is not financial, legal, tax, investment or other product advice.
This presentation contains statements of future expectations and other forward-looking statements which involve risks and uncertainties. These statements include descriptions regarding the intent, belief or current expectations of the Company or its officers with respect to the consolidated results of operations and financial condition, and future events and plans of the Company. These statements can be recognized by the use of words such as “expects,” “plans,” “will,” “estimates,” or words of similar meaning. Such forward-looking statements are not guarantees of future performance and actual results, performances or events may differ from those in the forward-looking statements as a result of various factors and assumptions. You are cautioned not to place undue reliance on these forward looking statements, which are based on the current view of the management of the Company on future events. No assurance can be given that future events will occur, or that assumptions are correct. The Company does not assume any responsibility to amend, modify or revise any forward-looking statements, on the basis of any subsequent developments, information or events, or otherwise.
Any reference herein to "the Company" shall mean Welspun Enterprises Limited, together with its consolidated subsidiaries.
Welspun Enterprises At a glance
PAN INDIA PRESENCE
Across UP, Bihar,
Tamil Nadu, Haryana, Maharashtra and Uttarakhand
DIVERSIFIED PORTFOLIO Specialise in Road, Water and Wastewater projects
ASSET LIGHT MODEL
STRONG EXECUTION
Operational excellence through committed partners and recycling of capital base with value accretive exits
Record completion time of 19 months (vs. 30 months) of Delhi – Meerut Expressway
LANDMARK/ ACCLAIMED PROJECTS
Delhi–Meerut Expressway Chikhali – Tarsod
#After divestment of 6 road assets
CURRENT PROJECT MIX #
HAM - 2 EPC – 3 BOT - 1
~51 %
₹ 1.14 Bn*
Revenue CAGR
Robust Order Book
(FY2017-22)
Among India’s fastest growing infrastructure development companies
Focused on execution
New order flows to be consistent with premium returns expectations
* As on September 30th, 2022 and Including Rs 17,960 mnfor O&M & asset replacement in MCGM STP project.
W E L S P U N E N T E R P R I S E S L I M I T E D
3
Creating Value through a Clear Strategy
Bid for selective projects
Leverage knowledge
Lower competition Better IRRs Better EPC margin Ease of execution
Moving towards external orders
(strengthening EPC)
Deploy right mix of contractors & support them for seamless execution
Reduce execution risk Minimal investment in Plant &
Machinery
Asset Monetization
Continuous Diversification
Monetize completed Assets on a value-accretive basis to strengthen developer & EPC business
Focus on Road and Water &
Wastewater segments
Exploring high potential sub-
segments
Project Management
Efficient monitoring to optimize cost and execution timeline
W E L S P U N E N T E R P R I S E S L I M I T E D
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ADVANTAGE WEL
Key Triggers
Proven Track Record
Built one of the ‘Engineering Marvels of India -Delhi Meerut E-way’ and known to be an Execution Specialist
Strong Platform Set for Future Growth
Strong and diversified EPC Order book across road and water sector providing visibility for next couple of years
Trend in Diversification
Focus on Road and Water segments Exploring additional opportunities in Wastewater Segment
Continuous Focus on
Value Creation
Asset light business model in Infra with project value-enhancements leveraging strong execution partnerships
Strategy
Robust Financial Metrics
Unique Position with Strong Financials to tap Infra opportunities with focus on Sustainable and Inclusive Growth
Asset Monetization
Value creation through regular churn of assets – Unlocking capital in a value accretive manner
Favorable Industry Dynamics
Creating value through a profound strategy
Well Positioned to Benefit from India’s Economic Growth & Development
W E L S P U N E N T E R P R I S E S L I M I T E D
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Proven track record
~500 km
Experience of operating ~500 km of Toll projects
₹ 122,000+ Mn ~700 km
Robust road portfolio*
Capability to execute complex projects WEL has demonstrated high level of operational excellence with the execution of several complex projects.
Key projects : Mukarba Chowk – Panipat Chikhali-Tarsod Gagalheri-Saharanpur-Yamunanagar Chutmalpur-Ganeshpur & Roorkee-Chutmalpur-Gagalheri Maharashtra Amravati - Package no. AM 2
* Includes assets being monetized
W E L S P U N E N T E R P R I S E S L I M I T E D
Delhi Meerut Expressway
Welspun completed Enterprises’ portfolio includes the Delhi–Meerut Expressway / National Expressway 3 which was featured as an Engineering Marvel of India
India’s FIRST 14-Lane Expressway India’s FIRST Green Expressway Received the “Gold Award” in the excellence in Project Management from MORTH
India’s FIRST HAM project to be awarded AAA (SO) credit rating
India’s FIRST HAM project to
receive annuity
India’s FIRST HAM project to be re-
financed post completion India’s FIRST Completed HAM project (332 Days ahead of schedule)
₹ 271 Mn
19 Months
Early completion bonus from NHAI
Record
completion time
Engineering Marvel of India Featured on History Channel
Engineering Marvels: Extreme Connects Watch Video
7
Strong platform set for future growth
Robust portfolio of Road and Water projects
Current order book at
₹ 1,14,186 Mn* (excluding GST)
Segment Break-up
Order Book Break-up
46% R O A D
80% E X T E R N A L
54% W A T E R
C A P T I V E 20%
* As on September 30th, 2022 and Including Rs 17,960 mnfor O&M & asset replacement in MCGM STP project.
Current Order Book provides strong revenue growth visibility
W E L S P U N E N T E R P R I S E S L I M I T E D
8
Trends towards Diversification
Trends in Order Book Break-up
WEL Portfolio (in ₹ Mn)
Other EPC, 4%
Water
EPC, 55.7%
FY17
Q2 FY23
EPC of HAM , 17.2%
EPC of
BOT, 2.8%
Road EPC, 24.3%
1,22,000
1,14,186
Development
EPC*
Development includes assets demonetized
EPC of HAM ,
96%
Way forward
Continuous focus on both development and EPC projects
Continue approach of prudent bid strategy to strengthen portfolio
Water & Wastewater to be one of the key growth driver and focus area
Strategic positioning towards development (BOT & HAM) and EPC projects
Apart from NHAI, evaluate road projects of State and local agencies
* As on September 30th, 2022 and Including Rs 17,960 mnfor O&M & asset replacement in MCGM STP project.
W E L S P U N E N T E R P R I S E S L I M I T E D
9
Continuous Focus on Value Creation
Focused on Execution excellence with Low Leverage
Strong presence across segments: Development (HAM & BOT) and EPC
Diversified roads & Water
projects
Leverage on Strong Parentage
(Welspun Group)
Focusing on Margin accretive
projects
De-risked execution model
Building High-Value High- Margin Projects
Value unlocking from assets
Completed Projects – ready to
monetize
o Recently monetized 6 completed road assets
Value creation through
churning of assets
Construction completely
outsourced; Project supervision by WEL
Flexibility across geographies
and infra sub-sectors
Minimal Plant & Machinery; no
investment blockage
Minimal working capital
Design capability &
strengthening of supply chain management
Asset Light Model
STRONG PARENTAGE
LOWER RISK
CASH RECYCLED
W E L S P U N E N T E R P R I S E S L I M I T E D
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Through an experienced Management
Sandeep Garg
Sanjay Sultania
Neeraj Gupta
Yogen Lal
Rajesh Jain
Managing Director
Chief Financial Officer
Vertical Head (ROADS)
Vertical Head (Water)
Chief Human Resource Officer
Harvard graduate with
Qualified Chartered
~40 years of experience in diverse roles in infrastructure and oil & gas sectors
Member of the Board
Accountant
26+ years of experience in Corporate & Project Finance, Capital Structuring, Accounts, Mergers & Acquisitions, Financial & Business Strategy, Budgeting, ERP implementation, etc. including 12 years in infra
24 years of experience in Infrastructure operations including National Highways (in OSE), Township Projects
Has completed more than
Rs. 200 bn worth of projects
Civil engineer with
33+ years experience in infrastructure
Extensive experience
across various verticals in the field of infrastructure such as buildings, irrigation, underground metros and water
MBA (HR) and B.E.
(Electronics)
30+ years of diverse
experience across sectors such as Infrastructure, Office, Automation, Electrical Service & manufacturing, Renewable Energy, and Financial Services
W E L S P U N E N T E R P R I S E S L I M I T E D
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Robust Financial Metrics
Revenues
EBITDA
Net Debt / Equity (x)
48% 5 years Revenue CAGR
6 1 9 , 2
2 7 9 , 9
4 9 3 , 7 1
0 0 6 , 7 1
2 0 1 , 4 1
9 6 0 , 3 1
0 4 8 , 1 1
5 8 7
1 0 8 , 1
7 6 5 , 2
9 8 5 , 2
8 7 9 , 1
9 1 8 , 1
0 7 0 , 1
2 0 0
.
4 0 0 2 0 0
.
.
4 2 0
.
2 2 0
.
1 2 0
.
1 1 . 0
FY17
FY18
FY19
FY20
FY21*
FY22* H1FY23
FY17
FY18
FY19
FY20
FY21
FY22 H1FY23
FY17
FY18
FY19
FY20
FY21
FY22 H1FY23
Standalone numbers
# Figures in Rs Mn
* Covid-impacted years
W E L S P U N E N T E R P R I S E S L I M I T E D
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Favorable Industry Dynamics
Budget 2022
Vision 2025 for Roads
60,000 Kms
Development of 60,000 km of NH - 2,500 km of Expressways, 9,000 km of Economic corridors, 2,000 km of coastal and port connectivity
~₹ 1.99 tn
68% In FY22
NHAI ~₹ 1,340 bn
133% In FY22
Bharatmala Pariyojana
Central Road Fund
550 Districts (NH Linkages)
19 %
Increase in allocation for the central road fund by 19%
Total expenditure on the Ministry of Road Transport and Highways for FY23
Allocation towards NHAI has more than tripled from 2019-20 to 2022-23
To optimise efficiency of movement by bridging critical infrastructure gaps
Jal Jeevan Mission
₹ 600 bn
Allocated to provide tap water connections to 38 million household in 2022-23
Jal Shakti Ministry
₹ 860 bn
Gati Shakti
₹ 100 tn
Allocated to the Jal Shakti Ministry , as compared to ₹69,000 Cr In FY21
Aimed at improving multi-modal connectivity and last- mile connectivity
Railways
~₹ 1,400 bn
28 % Allocation for Indian Railways
W E L S P U N E N T E R P R I S E S L I M I T E D
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Industry dynamics - Roads Sector Attractive Opportunities & Strong Policy support
Per Day (km)
Road Construction
NHAI Awards and Execution (km)*
18%
18,000 Km
18% of projected infrastructure investment of ₹111 trillion in NIP is in the Roads sector
National Highways to expand by
18,000 km in 2022-23
at a pace of 50 km per day
23 National Highways
Private Sector
Government aims to construct
23 new national highways
is expected to be largest contributor towards roads
7 2
0 3
8 2
by 2025
2018-19 2019-20 2020-21 2021-22 2022-23 E
6 0 3 , 6
8 8 7 , 4
8 1 2 , 4
5 2 3 , 4
0 5
7 3
9 7 9 , 3
0 8 3 , 3
1 1 2 , 3
2 2 2 , 2
Private Sector
2018-19
2019-20
2020-21
2021-22
Awards
Execution
W E L S P U N E N T E R P R I S E S L I M I T E D
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*Source: MoRTH(The Ministry of Road Transport and Highways) Annual Report FY 2021-22, Construction World.in
Industry dynamics - Water & Wastewater Sector
₹ 600 bn
Allocated for piped water mission to extend tapped water coverage to 38 million households in 2022-23
Wastewater treatment India’s Waste Water treatment plants treat only 1/3rd of the waste water generated daily according to Central Pollution Control Board
W E L S P U N E N T E R P R I S E S L I M I T E D
₹ 12.6 tn capital expenditure to be spent in building Water Infrastructure
Households with piped-water supply in rural areas (I N %)
(₹ TN)
1 . 1
8 . 1
0 2
.
4 . 1
2 . 1
.
4 0
.
6 0
0 . 1
.
8 0
.
8 0
.
7 0
% 3 1
% 4 1
% 6 1
% 7 1
% 8 1
% 0 0 1
FY20
FY21
FY22
FY23
FY24
FY25
FY15
FY16
FY17
FY18
FY19
FY25E
Rural Water &Sanitation
Irrigation
Government’s Mission: ‘Har Ghar Nal Se Jal’
With India’s water crisis nearing a tipping point, the government announced the Jal Jeevan Mission to provide potable water to every rural household by 2024.
Urban Water & Sanitation - Additional
₹ 3.3 tn
Will be spent in building Water Infrastructure Vision 2025 for Water Infrastructure
~100%
Of urban and rural households connected to piped-water supply
Interlinking Of rivers to increase area under irrigation, domestic & industrial water supply
1 5
Financials
Business Highlights Q2 FY23
NHAI approved the following acquisition of the balance stake from JV partners
51% stake in Chikhali-TarsodHighways Private Limited (Chikhali-TarsodHAM Project)
51% stake in RGY Roads Private Limited (ChutmalpurGaneshpur& Roorkee Chutmalpur
Gagalheri(CGRG) and GagalheriSaharanpur Yamunanagar(GSY)HAM Projects)
Revenue
2 7 6 , 4
5 4 7 , 6
6 9 0 , 5
0 0 8 , 2
5 5 1 , 2
Q2 FY22
Q3 FY22
Q4 FY22
Q1 FY23
Q2 FY23
EBITDA & EBITDA Margin 17.7%
Completion Certificatate received for 2 projects
11.7%
9.9%
Maharashtra Amravati (Pkg AM 2) on 30th July 2022
Chutmalpur-Ganeshpur& Roorkee-Chutmalpur-Gagalheri(CGRG) on 7thOctober 2022
8 3 3
3 2 2
5 4 8
11.0%
3 7 5
7.2%
8 9 4
Q2 FY22
Q3 FY22
Q4 FY22
Q1 FY23
Q2 FY23
EBITDA
EBITDA Margin
# Figures in Rs Mn, Standalone numbers
W E L S P U N E N T E R P R I S E S L I M I T E D
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Monetization of Operational Highway Portfolio
Project Name
Contract Type
Authority /Client
Status
Delhi-Meerut Expressway (Pkg 1)
Chutmalpur-Ganeshpur
Gagalheri-Saharanpur-Yamunanagar
Chikhali-Tarsod
Maharashtra Amravati (Pkg AM 2)
HAM
HAM
HAM
HAM
HAM
NHAI
COD achieved
NHAI
COD achieved
NHAI
COD achieved
NHAI
PCOD achieved
MH PWD
COD achieved
Mukarba Chowk – Panipat
BOT (Toll)
NHAI
PCOD achieved
TOTAL
6 projects 5 Completed HAM projects and 1 operating BOT Toll project
*Definitive Agreement signed with Actis Highway Infra Limited
* Subjectto the completion of customary and regulatory compliances and approvals from NHAI, PWD, and lenders
~₹ 60,000 Mn Enterprise Value
#Excl. ~₹ 30,000 Mn Construction linked milestone / grant payments received/receivable from NHAI and PWD - Government of Maharashtra
~₹ 35,390 Mn Expected Debt As on the date of First Closing
~₹ 17,780 Mn Equity investment As on the date of First Closing
W E L S P U N E N T E R P R I S E S L I M I T E D
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Income Statement Snapshot - Standalone
Particulars (₹ Mn)
Q2 FY23
Q2 FY22
YoY %
H1 FY23
H1 FY22
YoY %
Revenue from Operations
Other Income
Total Income
EBITDA
EBITDA margin
PBT Before Exceptional Item
Exceptional Item
PBT
PAT
PAT margin
Cash PAT
5,096
108
5,204
573
11.0%
378
53
431
396
7.8%
335
2,800
84
2,885
338
11.7%
175
0
175
142
5.1%
183
82%
28%
80%
70%
(70) bps
116%
-
146%
178%
269 bps
83%
11,840
272
12,112
1,070
8.8%
694
53
747
646
5.5%
608
6,242
179
6,420
752
11.7%
427
0
427
342
5.5%
418
90%
52%
89%
42%
(287) bps
63%
-
75%
89%
0 bps
45%
Note: Cash PAT = PBDT (before exceptional) –Current tax + Non-cash ESOP expenses | Prior figures have been restated wherever necessary
W E L S P U N E N T E R P R I S E S L I M I T E D
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Income Statement Snapshot - Consolidated
Particulars (₹ Mn)
Q2 FY23
Q2 FY22
YoY %
H1 FY23
H1 FY22
YoY %
Total Income
EBITDA
EBITDA margin
PBT Before Exceptional Item
Exceptional Item
PBT
Profit from discontinuing operations*
PAT
Cash PAT
5,529
702
12.8%
399
667
1,066
318
1,330
1,004
3,034
389
13.0%
142
0
142
121
225
280
82%
80%
(18) bps
181%
-
650%
163%
491%
259%
12,684
1,309
10.4%
734
667
1,401
558
1,821
1,838
6,678
852
90%
53%
12.9%
(248) bps
373
0
373
207
482
588
97%
-
276%
170%
278%
213%
Note: Cash PAT = PBDT (before exceptional) –Current tax + Non-cash ESOP expenses | Prior figures have been restated wherever necessary * -Refers to projects which are being monetized
W E L S P U N E N T E R P R I S E S L I M I T E D
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Balance Sheet Snapshot - Standalone
Balance Sheet Snapshot (₹ Mn)
30th September 2022
31st Mar 2022
Net worth
Gross Debt
-
-
Long Term Debt
Short Term Debt (Working Capital Loan)
Cash & Cash Equivalents#
Net Debt / (Cash)
Other Long-Term Liabilities
Mobilisation advance payable
Total Net Fixed Assets (incl. CWIP)
Net Current Assets (Excl. Cash & Cash Equivalents) (adj.)
Other Long-Term Investments and assets (adj.)
# Includes Fixed Deposits kept with banks
19,307
6,524
6,007
517
2,497
4,027
131
6,034
478
5,945
23,076
18,942
5,018
5,018
0
1,883
3,135
351
3,946
571
4,565
21,238
W E L S P U N E N T E R P R I S E S L I M I T E D
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Welspun Group and CSR
Welspun Group overview
USD 2.3 Bn
Group Revenue
USD 1.0 Bn
Group Assets Net Fixed Assets
9
Manufacturing Facilities in India, USA, and Saudi Arabia
26,000+
Workforce
Global leader in Home Textiles
Amongst world’s largest Line-Pipe manufacturers
Robust portfolio of Roads & Water Infra projects
Integrated Grade-A Warehousing Solutions
W E L S P U N E N T E R P R I S E S L I M I T E D
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EDUCATION
ENVIRONMENT
EMPOWERMENT
CSR initiatives
Our social mission is enshrined within the 3Es i.e. Education, Empowerment and Environment & Health
Project Gyankunj To enhance the teaching & learning process for teachers & students with the use of technology
Project Model Village To create a sustainable rural community that generates and maintains the resources to improve its level of well-being and happiness without depleting economic, social and environmental values.
Welspun Super Sports Women To identify and support female athletes in achieving their sporting endeavors through scholarships
CURRENT REACH
CURRENT REACH
CURRENT REACH
03
Districts
116
Schools
05
Villages
19,600
People
14
Sports Women
961
Teachers Trained
55,750
Students
W E L S P U N E N T E R P R I S E S L I M I T E D
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Awards, Accreditation & Accolades
Letter of appreciation by Prime Minister of India Shri Narendra Modi
“Gold award” in excellence in Project Management under PPP mode from MORTH
Appreciation by Shri Nitin Gadkari, Union Minister
Fastest Growing Company – Annual Construction World Awards
Letter of appreciation by Honorable Parliamentarian
W E L S P U N E N T E R P R I S E S L I M I T E D
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APPENDIX
Infrastructure Portfolio
1. HAM: Delhi-Meerut expressway package 1
2. HAM: Chutmalpur - Ganeshpur & Roorkee-Chutmalpur – Gagalheri 3. HAM: Gagalheri- Saharanpur-Yamunanagar
4. HAM: Chikhali-tarsod
5. HAM: Package no. AM 2
6. HAM: Aunta - Simaria (Ganga Bridge with Approach Roads)
7. HAM: Sattanathapuram – Nagapattinam
9. BOT: Mukarba Chowk – Panipat
8. EPC: Varanasi Aurangabad NH2 Project
10. EPC: UP State Water and Sanitation Mission
11. Dharavi Wastewater Treatment Facility (Mumbai)
12. BOT Dewas Water
13. EPC water segment
14. Investment in oil & gas blocks: potential value accretion
Infrastructure Portfolio
Diversified infrastructure projects in roads and water Project Name
Authority / Client
Contract Type
Status
ROAD Aunta-Simaria
Sattanathapuram-Nagapattinam (SNRP)
Varanasi Aurangabad NH2 Project (VARP) WATER Dewas Water
UP State Water and Sanitation Mission
Dharavi Wastewater Treatment Facility (Mumbai)
HAM
HAM
EPC
BOT
EPC
EPC
NHAI
NHAI
Under Execution
Under Execution
SIVAPTL
Under Execution
MPSIDC
SWSM
BMC
Operational
Under Execution
Under Execution
Road Assets being monetized
Delhi-Meerut Expressway (Pkg 1) Chutmalpur-Ganeshpur & Roorkee-Chutmalpur- Gagalheri (CGRG) Gagalheri-Saharanpur-Yamunanagar (GSY)
Chikhali-Tarsod (CT)
Maharashtra Amravati (Pkg AM 2)
HAM
HAM
HAM
HAM
HAM
NHAI
NHAI
NHAI
NHAI
COD achieved
COD achieved
COD achieved
PCOD achieved
MH PWD
COD achieved
Mukarba Chowk – Panipat (MCP)
BOT (Toll)
NHAI
PCOD received
Sr. No
1
2
3
4
5
6
1
2
3
4
5
6
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HAM Delhi-Meerut Expressway Pkg 1
SCOPE 14 Lane expressway: Six-laning of Delhi – Meerut Expressway & four-laning either side from 0th km to existing km 8.4 of NH-24 in Delhi STATUS
Received “Gold award” in excellence in project management under PPP mode from MORTH
Record completion within 19 months - early completion bonus of ₹ 271 Mn from NHAI
Project was covered by HISTORY Channel program as ‘Engineering marvel of India’
FLYOVER
Project details
Project Length (Kms)
Award Date
Financial Closure
Appointed Date
8.716 Km
Jan 2016
Achieved
28th Nov 2016
Scheduled Construction Period
30 months
COD Date
28th June 2018
Concession Period after COD
15 Years
Project cost & financing (₹ Mn)
Completion Cost
Means of Finance
NHAI
Debt
Sponsor’s Commitment
O&M Payment (First Year)
*Completion Cost includes Escalation
8,960
3,549
3,760
1,055
39.5
W E L S P U N E N T E R P R I S E S L I M I T E D
2 8
HAM Chutmalpur-Ganeshpur & Roorkee-Chutmalpur- Gagalheri (CGRG)
SCOPE 4-Laning of Chutmalpur- Ganeshpur section of NH-72A & Roorkee-Chutmalpur-Gagalheri section of NH-73 in UP & Uttarakhand
STATUS Received COD on 7th October 2022
Project details
Project Length (Kms)
Acquisition Date
Financial Closure
Appointed Date
PCOD
53.3 Km
Jan 2018
Achieved
28th Feb 2018
05th Aug 2020
Concession Period after COD
15 Years
GANESHPUR
Project cost & financing (₹ Mn)
CHUTMALPUR
GAGALHERI
Completion Cost
Means of Finance
NHAI
Debt
Sponsor’s Commitment
ROORKEE
O&M Payment (First Year)
*Completion Cost includes Escalation
11,085
4,430
4,956
1,460
100
W E L S P U N E N T E R P R I S E S L I M I T E D
2 9
HAM Gagalheri- Saharanpur- Yamunanagar (GSY)
SCOPE 4-Laning of Gagalheri- Saharanpur-Yamunanagar section of NH-73 in UP / Haryana
STATUS COD achieved on 31st Oct, 2020
Project details
Project Length (Kms)
Acquisition Date
Financial Closure
Appointed Date
PCOD
Completion Certificate
51.5 Km
Jan 2018
Achieved
26th Jan 2018
31st Oct 2020
10th Feb 2022
Concession Period after COD
15 Years
YAMUNANAGAR
Project cost & financing (₹ Mn)
Completion Cost
Means of Finance
NHAI
Debt
Sponsor’s Commitment
O&M Payment (First Year)
*Completion Cost includes Escalation
13,884
5,537
6,368
1,820
100
GAGALHERI
SAHARANPUR
W E L S P U N E N T E R P R I S E S L I M I T E D
3 0
HAM Chikhali-Tarsod (CT)
SCOPE 4-laning of Chikhali – Tarsod (Package-IIA) section of NH-6 from km 360.0 to km 422.7 in Maharashtra
STATUS
PCOD achieved on 25th Aug 2021
TARSOD
CHIKHLI
Project details
Project Length (Kms)
Acquisition Date
Financial Closure
Appointed Date
PCOD
62.7 Km
Jan 2018
Achieved
16th Jan 2019
25th Aug 2021
Concession Period after COD
15 Years
Project cost & financing (₹ Mn)
Completion Cost
Means of Finance
NHAI
Debt
Sponsor’s Commitment
O&M Payment (First Year)
*Completion Cost includes Escalation
12,703
5,014
5,400
1,380
40.1
W E L S P U N E N T E R P R I S E S L I M I T E D
3 1
HAM Maharashtra Amravati (Pkg AM 2)
SCOPE Upgradation of Roads in Maharashtra State or Two Laning Road/ Two Laning Road with paved shoulder under MRIP Package on Hybrid Annuity Mode (HAM) Package No. AM 2.
KEY FEATURES Concessionaire to receive 60% of the Bid Project Cost (BPC) during the construction period (vs. 40% in NHAI projects); balance 40% of BPC and O&M paid in a period of 10 years (vs. 15 years in NHAI projects)
STATUS COD achieved on 30th July 2022
Project details
Project Length (Kms)
Award Date
Financial Closure
Appointed Date
COD
352.15 Km
Nov 2018
Achieved
28th May 2019
30th July 2022
Concession Period after COD
10 Years
Project cost & financing (₹ Mn)
Completion Cost (Est.)
Means of Finance
PWD
Debt
Sponsor’s Commitment
O&M Payment (First Year)
*Completion Cost includes Escalation
17,192
10,261
2,800
1,861
315
W E L S P U N E N T E R P R I S E S L I M I T E D
3 2
HAM Aunta-Simaria (Ganga Bridge with Approach Roads)
SCOPE Six- Laning from Aunta-Simaria (Ganga Bridge with Approach Roads) Section from km 197.9 to km 206.1 of NH-31 in Bihar. Includes widest extradosed bridge on Ganga river
STATUS NHAI declared the Appointed Date as 30th August 2018
The project is under execution
AUNTA
BARAUNI REFINERY
SIMARIA
MALHIPUR
Project details
Project Length (Kms)
Acquisition Date
Financial Closure
Appointed Date
08.15 Km
Aug 2018
Achieved
30th Aug 2018
Scheduled Construction Period
42 Months
Concession Period after COD
15 Years
Project cost & financing * (₹ Mn)
Bid Project Cost
Means of Finance
NHAI
Debt
Sponsor’s Commitment
O&M Payment (First Year)
*Forecasted figures
14,477
5,726
5,665
1,416
99
W E L S P U N E N T E R P R I S E S L I M I T E D
3 3
HAM Sattanathapuram- Nagapattinam (SNRP)
SCOPE 4 laning of Sattanathapuram to Nagapattinam (Design Ch Km 123.8 to Km 179.6) section of NH-45A (New NH -332) in Tamil Nadu
STATUS Received Appointed Date on 5th October 2020 with 4 lane road & 4 lane structures as against 4 lane road & 6 lane structures specified in the Concession Agreement
SATTANATHAPURAM
The project is under execution.
NAGAPATTINAM
Project details
Project Length (Kms)
Award Date
Financial Closure
Appointed Date
55.755 Km
July 2018
Achieved 5th Oct 2020
Scheduled Construction Period
24 months
Concession Period after COD
15 Years
Project cost & financing * (₹ Mn)
Bid Project Cost
Means of Finance
NHAI
Debt
Sponsor’s Commitment
O&M Payment (First Year)
* Forecasted figures
22,725
9,090
8,935
2,400
50
W E L S P U N E N T E R P R I S E S L I M I T E D
3 4
BOT Mukarba Chowk – Panipat (MCP)
SCOPE 6 to 8 laning from Mukarba Chowk at Km 15.5 and extends to Panipat at Km 86 in the State of Haryana. Project Stretch lies in the Panipat & Sonipat district of Haryana and Delhi
STATUS PCOD received effective 31st March 2022
Project details
Project Length (Kms)
71.1 Km
Acquisition Date (Harmonious substitution)
PCOD
8th June 2020
31st March 2022
Commencement of Tolling
Concession End Date
Q1 FY23
Oct 2033*
* Extension of up to 3.5 years possible depending on actual traffic on Target Date of April 1, 2025
Project cost & financing (₹ Mn)
Bid Project Cost
Means of Finance
NHAI
Debt
Sponsor’s Commitment
Equity
21,220
1,890
12,560
4,770
2,000
W E L S P U N E N T E R P R I S E S L I M I T E D
3 5
EPC Varanasi Aurangabad NH2 Project (VARP)
SCOPE Six laning of Varanasi – Aurangabad section of NH-2 from km 786.00 to km 978.00 (length 192.400 km) in the state of Uttar Pradesh & Bihar
Project details
Project Length (Kms)
192.4
Original Contract
Commencement Date
Construction Period
Additional Contract
Construction Start Date
Construction End Date
30th Sep 2021
24 Months
May 2022
Nov 2023
Status •
Total contract value of ~Rs 32,660 Mn (excl. GST) comprising original scope and order for additional scope
W E L S P U N E N T E R P R I S E S L I M I T E D
3 6
EPC UP State Water and Sanitation Mission
SCOPE
Rural Water Supply project under Jal Jeevan Mission by State Water Sanitation Mission UP, scope includes Survey, Design, Preparation of DPR, Construction, Commissioning and O&M for 10 years of various Rural Water Supply Projects in the State of Uttar Pradesh
Project details
Project Scope
Water Supply to Villages
Est aggregate contract value
₹ 25,000 Mn
S No. Revenue
District
Division
No of Villages
1
2
3
4
5
Varanasi
Jaunpur
Varanasi
Sant Ravidas Nagar
Ayodhya
Ambedkar Nagar
Ayodhya
Amethi
Meerut
Bulandshahr
Total No of Villages
747
877
241
240
439
2,544
W E L S P U N E N T E R P R I S E S L I M I T E D
3 7
EPC Wastewater Treatment Facility - Mumbai Sewage Disposal Project
SCOPE Design, Build, Operation and Maintenance of 418 MLD Dharavi Wastewater Treatment Facility including 209 MLD Tertiary treatment facility under Mumbai Sewage Disposal Project, Stage II (Priority Works)
Project details
Contract period
60 Months for Design Build, 15 years of operation and maintenance
Welspun Enterprises share in JV
80%
Status
LOA received on May 27, 2022
Project Commencement date – July 4, 2022
Total consideration of ~₹ 46,360 Mn (inclusive of GST)
Preparatory technical studies and basic engineering in progress
W E L S P U N E N T E R P R I S E S L I M I T E D
3 8
BOT Dewas Water
Sector
Project Name
Location
COD
Concession End
Water Supply
Dewas Water*
MP
Apr-20
Jun-37
*Dewas Water – Modified Project Modified project involves the supply of treated water of up to 23 MLD to industrial customers in
Dewas
FY22 revenue stands at ₹110 mn with EBITDA of ₹59 mn
W E L S P U N E N T E R P R I S E S L I M I T E D
3 9
₹25,000 Mn worth order under execution in EPC water segment
Lead Partner in Joint Venture with Kaveri Infraprojects Limited, Hyderabad 70 : 30
Empanelled by the UP-State Water and Sanitation Mission, Namami Gange and Rural Water Supply Department (SWSM)
Execution of EPC Projects of 2,544 villages for the Project of Survey, Design, Preparation of DPR, Construction, Commissioning and Operation and Maintenance for 10 years of Rural Water Supply
Estimated aggregate contract value: ₹25,000 Mn. The final value will be determined on completion of preparation of Detailed Project Report (DPR) by the JV and its approval by the SWSM
Preparation of DPR and Construction of the Project is to be progressively completed in 21 to 28 months and thereafter Operated and Maintained for a period of 10 years
Execution of EPC Projects across Jaunpur and Sant Ravidas Nagar in Varanasi, Ambedkar Nagar and Amethi in Ayodhya & Bulandshahr in Meerut
W E L S P U N E N T E R P R I S E S L I M I T E D
4 0
Investment in Oil & Gas blocks: Potential value accretion
Adani Welspun Exploration Ltd (AWEL), a 65:35 JV between Adani Group & WEL, is the key investment vehicle
Block Name
Location AWEL Stake
Status
WEL Effective Stake
MB-OSN-2005/2 Mumbai Offshore
100.0%
35.0%
GK-OSN-2009/1
Kutch Offshore
25.0%
8.75%
CB-ONN-2005/4 Cambay
- *
35.0%
Basin
B9 Cluster (DSF) Mumbai Offshore
100.0%
35.0%
AWEL drilled a well and had hydrocarbon discovery- potential GIIP 514 BCF (billion cubic feet) of gas . Further data evaluation studies have been completed. Resource and reserve estimation/certification has been completed and further Field Development studies are being carried
FDP (Field Development Program) is under preparation by ONGC, the operator. Based on which the commercial viability will be decided.
Ministry has turned down the request letter of the 35% consortium for allowing them to carry out operations in the Block. Other remedies are being explored.
A well has been drilled and data evaluation studies are in progress following which, resource and reserve/ reserve estimation has been taken up and further Field Development studies are being carried
W E L S P U N E N T E R P R I S E S L I M I T E D
4 1
Revenue from first block expected in FY25-26
Thank You
For further details please contact
CORPORATE OFFICE
W E L S P U N E N T E R P R I S E S L I M I T E D Welspun House, 5th Floor, Kamala Mills Compound, Senapati Bapat Marg, Lower Parel, Mumbai - 400 013, India E-mail: investorrelations_WEL@welspun.com Mr Abhinandan Singh, Head – Group Investor Relations +91 98202 93450 [M]
INVESTOR RELATIONS ADVISORS : Strategic Growth Advisors Pvt. Ltd. CIN: U74140MH2010PTC204285
Mr. Jigar Kavaiya / Mr. Pratik Shah jigar.kavaiya@sgapl.net / p.s.shah@sgapl.net
N O V E M B E R 2 0 2 2