GPTINFRANSEQ4 FY23May 29, 2023

GPT Infraprojects Limited

3,045words
37turns
4analyst exchanges
1executives
Management on call
Atul Tantia
EXECUTIVE DIRECTOR AND CHIEF FINANCIAL OFFICER
Key numbers — 40 extracted
rs,
unce that the Fiscal Year 2023 marked the best year for the company in its history on all parameters, that is Revenue, EBITDA, PAT, ROCE and Cash Flow. This achievement is attributable to our strong e
14%
of old receivables from customers which improved our return ratios leading to ROE and ROCE being 14% and 17% respectively. As per the dividend policy of the board and in order to reward our sharehol
17%
receivables from customers which improved our return ratios leading to ROE and ROCE being 14% and 17% respectively. As per the dividend policy of the board and in order to reward our shareholders for
Rs. 1.5
holders for the robust performance of the company the board has recommended a final dividend of Rs. 1.5 per share. This will lead to a total dividend payout for the year of Rs. 2.5 per share, that is 25
Rs. 2.5
a final dividend of Rs. 1.5 per share. This will lead to a total dividend payout for the year of Rs. 2.5 per share, that is 25% of the face value. You will recollect that in November 2022 the company h
25%
5 per share. This will lead to a total dividend payout for the year of Rs. 2.5 per share, that is 25% of the face value. You will recollect that in November 2022 the company had allotted bonus shares
Rs. 14.5 Crore
st bonus, the dividend is in the highest in the history of the company taking the total payout to Rs. 14.5 Crores for this year. Now moving ahead to our financial performance for the full year 2023: Our reven
Rs. 790 Crore
oving ahead to our financial performance for the full year 2023: Our revenues from operation were Rs. 790 Crores on a standalone basis which compared to Rs. 669 Crores last year representing a growth of 18.1%.
Rs. 669 Crore
r 2023: Our revenues from operation were Rs. 790 Crores on a standalone basis which compared to Rs. 669 Crores last year representing a growth of 18.1%. On a consolidated basis the revenues stood at Rs. 809
18.1%
Crores on a standalone basis which compared to Rs. 669 Crores last year representing a growth of 18.1%. On a consolidated basis the revenues stood at Rs. 809 Crores compared to Rs. 675 Crores for th
Rs. 809 Crore
69 Crores last year representing a growth of 18.1%. On a consolidated basis the revenues stood at Rs. 809 Crores compared to Rs. 675 Crores for the last year representing a growth of 20%. In both the standalon
Rs. 675 Crore
nting a growth of 18.1%. On a consolidated basis the revenues stood at Rs. 809 Crores compared to Rs. 675 Crores for the last year representing a growth of 20%. In both the standalone and the consolidated nu
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Guidance — 15 items
Atul Tantia
opening
“In both the standalone and the consolidated numbers, we have exceeded the target set out of 15% growth at the beginning of the year.”
Atul Tantia
opening
“This will be achieved by the expected strong performance this year as well as returns from the investment in the subsidiary in Ghana and full liquidation of the outstanding receivables from GMR.”
Atul Tantia
opening
“The management is quite confident that the existing arbitration cases will be settled through this scheme once the same is made operational by the government in this financial year which will lead to a cash inflow of almost in excess of Rs.”
Now turning to the performance of our segments
opening
“In some key contracts for this segment like Ghazipur, Mathura, Jhansi and Nimtita the company has well exceeded the targets set forth for the Fiscal Year ‘23 which has led to the overall jump in the revenues as and we expect the team to maintain the momentum for the current year as well.”
Now turning to the performance of our segments
opening
“We anticipate increased momentum in this segment with the commencement of the operations of our factory at Ghana which has an outstanding order book of Rs.”
Aditya Sen
qa
“And also, any guidance on the closing order book or the order inflow expected in FY24?”
Atul Tantia
qa
“So, I would say that for the full year for closing order book for next year we should be around Rs.”
Chirag Shah
qa
“Sir just wanted to ask your guidance on the debt side did I hear it right that you would be reducing the debt by Rs.”
Chirag Shah
qa
“Even if you do not win the arbitrations or there is some delay in that the minimum debt reduction would be 20 odd Crores for the next year?”
Chirag Shah
qa
“And on your guidance front you mentioned 20% revenue growth and 30% profit growth, is that right?”
Risks & concerns — 1 flagged
However, due to the volatile currency fluctuations in South Africa and Ghana there were some mark-to-market losses.
— Atul Tantia
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Q&A — 4 exchanges
Q
Congratulations on the good set of numbers and the order book that we have. In one of the earlier concall, we mentioned that we are expanding in newer geographies especially in the in the Northeast also, so do we have any updates regarding that?
Atul Tantia
So, in Northeast we have couple of contracts. We have two contracts in Manipur for NHIDCL, we have contracts in Assam as well. So, we are doing a couple of contracts in Northeast out of this Rs. 2,276 Crores about Rs. 200 Crores is from the Northeast in terms of geographical spread so about close to 10%. And also, any guidance on the closing order book or the order inflow expected in FY24? So, historically if you see we are we like to keep our order book as close to 2.75 to 3 times our trailing 12 numbers. So, I would say that for the full year for closing order book for next year we should be
Q
Sir just wanted to ask your guidance on the debt side did I hear it right that you would be reducing the debt by Rs. 20 odd Crores next year?
Atul Tantia
In the current year yes, Rs. 20 odd Crores if I also said that in terms of the settlement of disputes which they have come out with this “Vivad Se Vishwas” scheme too if we GPT Infraprojects Limited May 24,2023 were able to that does get operational and we are expecting to get almost Rs. 50 odd Crores that will further reduce the debt by almost Rs. 40 odd Crores from there as well. Even if you do not win the arbitrations or there is some delay in that the minimum debt reduction would be 20 odd Crores for the next year? So, it is not the question of winning the arbitration we have borne the arb
Q
Regarding the exceptional EBITDA loss that we did in the Namibia investment so should not that be recorded separately what I believe is that it should not be recorded in the EBITDA margins, it should be recorded as exceptional income, so please correct me if I am wrong on this?
Atul Tantia
So, it is not an exceptional income as per the management understanding as well as the auditors because it is as per IFRS every financial year you are supposed to do an impairment testing of the investments that you do carry. So, in this case the impairment testing was done which was certified by an independent chartered accountant and then also verified by the auditors and also the audit committee and the management have found it fit to take that impairment of the investment. It cannot be an exceptional item because next year it might be a gain as well depending on how the foreign exchange an
Q
Thank you everyone for joining the conference call today. We hope we have been able to answer and address all your queries. In case you have any further questions do please get in touch with us directly or through our investor relation advisors. Thank you and have a good day.
Management
Speaking time
Atul Tantia
16
Chirag Shah
10
Moderator
6
Aditya Sen
4
Now turning to the performance of our segments
1
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Opening remarks
Atul Tantia
Thank you. Good morning, everyone and a warm welcome to the GPT Infraprojects Limited Q4 & Year Ended 31st March 2023 Earnings Conference Call. The results presentation and the press release along with the financial results were uploaded on our website and the website of the stock exchanges and I hope you have had a chance to review the same. We are also joined by Stellar IR, our Investor relation advisors. I am happy to announce that the Fiscal Year 2023 marked the best year for the company in its history on all parameters, that is Revenue, EBITDA, PAT, ROCE and Cash Flow. This achievement is attributable to our strong execution capabilities, steady focus on cash flow and the realization of old receivables from customers which improved our return ratios leading to ROE and ROCE being 14% and 17% respectively. As per the dividend policy of the board and in order to reward our shareholders for the robust performance of the company the board has recommended a final dividend of Rs. 1.5 per
Now turning to the performance of our segments
Our infrastructure segment demonstrates strong execution prowess throughout FY23 with a remarkable 24% increase in revenues reaching Rs. 712 Crores for the year ended 31st March 2023. This segment continues to be the backbone of our business, contributing almost 88% of our total revenues in FY23. In some key contracts for this segment like Ghazipur, Mathura, Jhansi and Nimtita the company has well exceeded the targets set forth for the Fiscal Year ‘23 which has led to the overall jump in the revenues as and we expect the team to maintain the momentum for the current year as well. Regarding the sleeper segment generated revenues of Rs. 98 Crores for FY23. We anticipate increased momentum in this segment with the commencement of the operations of our factory at Ghana which has an outstanding order book of Rs. 123 Crores. The new factory which is expected to be commissioned in Q1 FY24 will have a capacity of 240,000 sleepers per annum. In fiscal year FY23, we secured orders worth Rs. 1,40
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