SPML Infra Limited has informed the Exchange about Investor Presentation
Date: 24th April, 2025
National Stock Exchange Exchange Plaza, Plot No. C/1, G Block, Bandra (E), Mumbai-400051
BSE Limited Phiroze Jeejeebhoy Towers Dalal Street, Mumbai-400001
(NSE Scrip Code: SPMLINFRA)
(BSE Scrip Code: 500402)
Sub: Investor Presentation
Dear Sir(s),
Pursuant to Regulation 30(6) of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (the “Listing Regulations”) read with Part A of Schedule III of the Listing Regulations, we are enclosing herewith the Investors’ Presentation for the month of April, 2025.
Kindly take the same on records.
Thanking you, For SPML Infra Limited
Swati Agarwal Company Secretary
Encl.: As above
Swati AgarwalDigitally signed by Swati Agarwal Date: 2025.04.24 15:29:07 +05'30'SPMI.EngmeerMgLife\SPMLINFRALIMITEDCIN:L40l06\L'Bl9lIPLC276372Regd.Office122,CamacSlrael.Block-A.3rdFloor.Kolkata700016Ph:*913340091200!1247E-mall:info@spml.oo.inIWebsite:www.spmI.oo.ln INVESTOR PRESENTATION
April 2025
www.spml.co.in
II»vo0,.s_,i\OI5__/*unI•,s4.»*»~IlSPMI.EngineeringLifeSPMLINFRALIMITED Disclaimer
This document contains statements about expected future events and financial and operating results of SPML Infra Limited, which are 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 will 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 document is subject to the disclaimer and qualified in its entirety by the assumptions, qualifications and risk factors referred to in the management’s discussion and analysis of the SPML Infra Limited.
Investor Presentation
2
l.rSPMLEngineeringLife~_, Company Overview
VIlIIIlllllIIII"II|UllarHQlu-..11.-_v~»)\\1'1.EngineeringLife India’s Leading Integrated Water Management Company with Key focus on Water Wastewater & Energy Infrastructure Development
4+ decades of experience coupled with a national presence
Successfully completed 700+ turnkey projects in Water and Power across India
Expertise in facilitating Turnkey end to end Water & Wastewater Management, and Energy Solutions
An ISO – 9001:2015;14001:2015; 45001-2018 certified company
Delivering Drinking Water Facility to 50 Million+ people
Ranked No. 14 among World’s Top 50 Private Water Companies – Global Water Intelligence, London
Marquee Clients
Focused on margin accretive Water Segment
Delhi Jal Board
National Mission for Clean Ganga
Jal Jeevan Mission
PHED-Rajasthan
Bangalore Water Supply and Sewerage Board
Investor Presentation
4
SPMLEngmeerirwgLifeL,****+'DCo.="OQBc*.Li'J................'D°.so0Orc.DC,O.2o015011.o.1DC,Oo00201c1'in'nLL'D°.O.2D000*s-l9'D*,is.=c>Of!..OnCNAMAMI'PAUr:\Anum;'Q*Dc.D.Q'5OfOf1HerGharJal'D>oC,Q:O0030'L Our Journey
•
Incorporation
•
Initial Public Offering on nation’s premier exchanges
•
Completed an EPC project in record time for the Saurashtra Water Pipeline Project
• KPMG-Infrastructure
• Rs. 783 cr order from Gujarat
Today Award for Most Admired Infrastructure Company
for SAUNI Phase-III • Received 4 Prestigious
Awards
•
•
EPC World Awards 2023 for Outstanding Contribution in Urban Infrastructure Construction Times Awards 2023 for Best Water Project of the Year
• NARCL becomes sole
lender
1981
1984
2000
2011
2019-20
2023
1982
1999
2005
2013-14
2021-22
• Ventured into Water EPC
•
and management projects
Completed 1st Industrial Water Supply Project - Bakreswar Thermal Power station (Rs. 1,400 Mn)
•
Completed the first DBO project-Rajiv Gandhi Lift Canal Water Supply in Jodhpur (Rs. 1,372 Mn)
• Received private equity
investment from Citigroup
• Received 4 prestigious
• Rs. 1,158 cr water supply
Awards Order for urban water supply-6 cities in Karnataka Commendation at Global Water Awards 2014
•
•
order from Rajasthan under Jal Jeevan Mission Economic Times Infra Focus Awards 2022 as Most Admired Company in the Water Infrastructure
Investor Presentation
5
\SPLEngineeringLife//I Recognitions for Exemplary Project Executions
EPC World Awards 2023 for Outstanding Contribution in Urban Infrastructure (Water Project)
Construction Times Awards 2023 for Best Water Project of the Year
Most Impactful Water Management Leader 2023 to SPML Infra Vice Chairman
The Economic Times Infra Focus Awards 2022 as Most Admired Company in Water Infrastructure
Indian Achievers Award 2022 for Business Leadership to SPML Infra Chairman
The Economic Times Most Promising Business Leaders of Asia 2018 Award to SPML Infra Chairman, Mr. Subhash Sethi
Award for Outstanding Contribution in Completion of SAUBHAGYA Scheme in Bihar - By Hon'ble Chief Minister of Bihar
Zee Business Dare to Dream Awards 2018 for Company of the year – Infrastructure
Certificate of Appreciation for Outstanding Performance in SAUBHAGYA Scheme in Patna District, Bihar
ET Now-Water Leadership Awards 2018 for Excellence in Water & Wastewater Management – World CSR Day
50 Most Impactful Leaders in Water & Water Management Awards 2018 to SPML Infra Chairman – World CSR Day
India’s Most Ethical Companies Award 2017 – World CSR Congress
Aqua Foundation Excellence Award 2017 for Valuable Contribution in Infrastructure Development in India
Skoch Awards 2020 – Order of Merit Certificate for Kanpur Sewerage System
ASSOCHAM Energy Excellence Awards 2019 for Rural Electrification
CIA World Construction & Infra Award 2019 as Best Company in Water Management - EPIC Media
Smart Water & Waste World Award 2019 for Decentralized Sewerage System in Mira Bhayander, Maharashtra
ASSOCHAM Water Management Excellence Awards 2019 as Best Water Management Practices
Construction Times Award 2017 for Best Executed Technology used for Water Management Project
CIA World Builders & Infra Awards 2017 for Best Water Management Company of the year – EPIC Media Group
Frost & Sullivan India Awards 2016 as India Water & Waste Water Management Competitive Strategy Innovation & Leadership
Construction Times Awards 2016 for Best Executed Wastewater Project of the Year
Fortune India Next 500 Awards 2016 as ‘One of the Giants of Tomorrow’ – Fortune Magazine
CBIP Award 2016 for Optimum and Efficient Utilization of Water Resources - CBIP
Investor Presentation
6
-SPMLEngineeringLife~_,.Hair-#tin*1llnhl:-ala-lln;g1lu.».w|.1.Hunu-rn-¢_»...-.itIWm..II"...|¢\lmui-.w$PMLllFIll»Lranm$5*5"F.aan-=4'.iul-urlll$TllcT.lT11ESl.llIsin._u-lnlhl"JNl-n-u*v-4Aluhu-I-»-an-1-a-nm.ln.*uez,............... Experienced Board of Directors
Subhash Sethi Chairman In the past over four decades, he has worked passionately with his mission to create enduring value for the country. Under his leadership, SPML Infra went on to establish itself as a leading Engineering and Infrastructure Development organization with abut 700 completed projects. He is recognized as in expert Committees’ of like CII, Indian Chamber of Commerce etc. His valuable contributions in infrastructure development have been recognized widely and he has received several prestigious awards including Economic Times Asian Business Leadership Award.
leader and serves as Chairman
industries’ associations
industry
Sushil Sethi Jain Vice Chairman He has been instrumental in leading SPML Infra in water & wastewater, municipal sewerage network, pipeline rehabilitation, municipal solid waste management and other verticals. He holds honorary & prestigious offices in various social and economic and community development organizations. For his valuable contributions in infrastructure development in the country, he has been conferred with several prestigious awards including Infrastructure Person of the Year Award.
Manoj Digga Executive Director Commercial & CFO He brings over 33 years of extensive experience in Finance, Accounts, Taxation, and Corporate Finance Transactions, including Equity and Acquisitions. He is a qualified Chartered Accountant, Company Secretary, and Cost Accountant, with a proven track record of expertise in navigating complex financial landscapes and executing high-value businesses.
T.V. Rangaswamy Nominee Director He has over 30 years of experience in capital markets with leading companies. He has held key positions in BSE and NSE, ICICI, Reliance and Edelweiss among others. He has a good understanding of legal and regulatory framework and is a Commerce Graduate and Member of the Institute of Cost and Works Accountants of India.
Arundhuti Dhar Independent Director She has experience in HR, Banking, Finance, Trade, EPC, Infrastructure and Property Management. She has held key positions in American Express Bank, HDFC Bank and IL&FS Property Management Ltd. She is a St. Xavier’s College alumnus
T.S. Shivashankar Independent Director He is a Financial Service professional with 30+ years experience. He is a Managing Director, Rohatyn Group and was earlier with Citibank leading Private Equity, Capital Markets, Corporate Finance and Treasury. He has completed B.Tech from IIT Madras and MBA from IIM Lucknow
Mahendra Pal Singh Independent Director A retired official from the Government of Japan, has extensive infrastructure experience. As Chief of Development Operations at JICA, he managed Japanese aid for major Indian projects, including metro systems and the Western Dedicated Freight Corridor, and played a vital role in establishing IITs and AIIMS.
Nita Karmakar Independent Director She is PGDBM in Finance from IIM Kolkata, has over 40 years of experience in corporate affairs and government relations. She has worked at L&T, BHEL, and CII excelling finance, corporate management, corporate affairs, project management, and marketing, with strong analytical and crisis management skills.
in
Investor Presentation
7
\SPLEngineeringLifeIIIIIIII..............................................................................................................................................................................................................................................IIIIIII.......................................................................................................................................................IIIIIIIIIIIIII................IIIIIIIII..............................................................................................................................................................................................................................................III Experienced Key Officials
Abhinandan Sethi Chief Operating Officer He spearheads the initiatives in Water and Power projects providing leadership in the areas of business planning and development, financial planning & policies, project and operational management, setting up of the policies and procedures, and handling complete project management. He is an alumnus of La Martiniere for Boys, Calcutta, holds a Bachelor of Science in Business Administration from Boston University, USA, and is currently pursuing an MBA at London Business School.
Malay Kanti Chakraborti Executive VP He has more than 32 years of years of experience in the field of management and procurement with Batliboi, Andrew Yule, VTS and has hands on experience in project management. He has a B. Tech (Mechanical) Degree
Sujit Kumar Jhunjhunwala VP – Fund Management and Banking He is a CA and has 29+ years of experience in corporate finance, fund management, and banking operations. He financing, optimizing capital specializes structure, managing banking relationships, ensuring compliance, and overseeing credit ratings and audits. His expertise strengthens the organization's financial strategy and growth.
in securing
Vikas Sharma VP – Finance and Accounts A CA & CS and PGCP from IIM Indore, has 23years of experience in finance, accounting, and banking operations. He specializes in cash flow management, liquidity planning, banking relations, and vendor management. His expertise ensures efficient financial operations, compliance, and strategic financial planning for the organization.
Sumit Bhattacharya CHRO He has more than 25 years of experience in human resources, talent learning and OD, HR process management, total rewards, automation etc. He has an MBA in talent management from XLRI, and Diploma in Communication Strategy from Toronto University.
in HR, Diploma
O. Vishveswaraiah VP – Projects He has more than 35 years of diverse experience in structural engineering and execution – currently leading the KUIDFC and BWSSB Projects. He has M.E. (Civil Engineering) degree.
Partha Roy VP – Legal & Contracts He has 20 years of multi-sector experience in management advisory and effective supervision of legal litigation operations, devising management. He has a degree of Legum Baccalaureus (Bachelor of Legislative Law).
legal affairs encompassing
risk mitigation and
strategy,
Investor Presentation
8
\SPLEngineeringLife.................................................................................................................................................................................................................................e..................................................................................................................................................................................................................................................kit;#1Iar-nav'..................................................................................................................................................................................................................................................................................................................................................................................................................................................................................9i1.................................................................................................................................................................................................................................................. Business Overview
r.......-aWZ>t.'Tu-.......................if\r_........................-_v~»)\\1'1.,IilllllllIIIIIIIIIIIIEngineeringLifeUlla Robust Business Model
SPML manages complete water cycles with a focus on saving water and protecting resources
It includes raw water intake through rivers/canals/sea, water treatment, pumping and water distribution & transmission to cities and industries for potable, service and process water needs. And at the end, treating sewage & effluent for disposing back into the source or recycling for further usage.
Investor Presentation
10
\SPLEngineeringLifeI/*uenucm|,J'*~u!mm¢4'~/v*do\<\/',Ig*N)*<<Q5»-°°9\4"1I_e'°"4=¢-e.11111-,111114lllll,glllll1asIpalllll|5.nun|/;1§:»11111ar'\111*\*-J¢5¢51,ana»e'.'=@~°=¢.`*Qab'r=D'xIpaIlIvin9i\¢6of»'\<\a\\l~\as\.e-N*s;¢<x/:'%>s<\<¢e¢,o*»//*so$0»1<°°¢<*>\/Quo<<"4I°'\.0*-<°6C'sor,d.6r<99Qpa>-I°\<**et<*°"Tb'_,o,)ofrx,Z*n,.5\/.~\~<!>».~éE5\-/'R'*=@»Y'P.**l¢11V`:QE!!QQQQ;.QSZQ"ixde,\»~=~=°'`-I--'40o~;-I,rQ<o<,¢9s<,oo<$¢>\\o<§o669<~S'°¢5°°c'_o+vi~\b-0\O..°¢'=ApplncationsLegend4°......6°MeternngDusinfectuonFiItrat1on••• Maintaining Energy Flow Through the Strength of BESS
Focus remains on margin accretive ‘River to Reservoir’ segment
Business
Segments
SPML’s qualifications enable it to excel in BESS opportunities, showcasing in supporting renewable energy and power infrastructure.
its expertise
sustainable
River to Reservoir
Reservoir to Tap
Home to River
Investor Presentation
11
\SPLEngineeringLifesl-5".=.1~":lm"tiIR1!Aa1.ii..13__soviXaf."J'24,.>toH•*_:¢""';"*"°'J'-.riQ-Qis-FP'1"¢"\*Nu'l2'/"S".-*Qgn¢-ll Securing India’s Water Future through our business solutions Superior Execution Track Record in Water EPC Sector (Till Date)
Water Supply and Distribution
~Rs. 1,150 cr, Isarda Dam, Rajasthan Drinking Water Supply and Management projects
10 years in O&M Water supply projects
More than 300 km, 1500> mm diameter Pipeline project
City distribution management experience of up to 1 Mn population
All civil works related to water supply projects- treatment plant, overhead reservoir, underground reservoir, intake etc
Water & Wastewater Treatment & Management
Up-to 35 MLD Common Effluent Treatment Plant
Up-to 240 MLD Sewage Treatment Plant
Water treatment plant projects of up to 200 MLD capacity (expected to go up to 500 MLD in the future)
Trenchless sewer rehabilitation projects of 25 km and up to INR 200 crores contract value
Sewerage network projects of length 200 km
Investor Presentation
12
\EngineeringLifeSPL Build a Robust Order book Bid for fewer but larger projects with high margin fully funded and easy to execute
Efficient mgmt. of Debtor Days Focus on Cash Rich States
Key Focus Areas
Robust selection of sub–contractors Basis their local presence, financial prowess and work execution ability
Risk Averse Applying Escrow Mechanism to reduce strain on working capital
Improving Profitability Bid for high growth and better margin projects
Favourable Commercial Terms Reviewing detailed project reports (DPR) to minimize disputes over scope of work
Cost Optimization Execution of projects on sub-contract basis to eliminate bank guarantee, no execution delays, avoid penalties Technology driven process’ for improving efficiency and reducing costs
Investor Presentation
13
\SPLEngineeringLifeIIIII Competitive Edge
Strong and long term relationships with central & state water bodies
Company is properly placed to market size with edge in choosing selective business
Exceptional execution expertise with strong engineering team
Pre qualified player in high value projects
Resilient Promoter Background & commitment towards the business
Limited competition because of few players
Robust business model
Sufficient liquidity with a robust business plan with no pressure on the cash flow towards lender’s obligation including interest
Investor Presentation
14
\SPLEngineeringLife Water Sector Outlook
,IilllllllIIIIIIIIIIIIUllar.......y!!'°rWMltfu..............................................EngineeringLife India
has a great opportunity to increase water supply infrastructure to meet growing demand
Robust Industrial Growth
Disruption in Water Cycle
India faces a large gap between current supply and projected demand
Unsustainable use of water resources
Demand 1,498 Bn M3
2030
Supply 744 Bn M3
GROWTH TRIGGERS
India water usage composition in 2030
80%
13%
7%
Rise in urban population and inadequate water supply situation
Increased requirement from irrigation and agriculture sector
Agriculture
Industrial
Municipal & Distribution
Quality and Accessibility of water
Source: Charting Our Water Future 2030 Water Resources Group – International Finance Corporation, McKinsey and Co, The Barilla Group, The Coca- Cola Company, Nestle, SABMiller PLE, New Holland Agriculture, Standard Chartered Bank and Syngenta AG
Investor Presentation
16
.................................................................................................................................................................EngineeringLifeSPMLL...........................................1.................................................................................................................................1................\......................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................................... Government Initiatives
Fueling Water Sector Growth
Flagship Programs
Jal Jeevan Mission (Urban) Exclusive Budget – Rs.2.87 lakh cr 2021-2026
Jal Jeevan Mission (Rural) Outlay – Rs.3.6 lakh cr 2019-2024
Amrut 2.0 Massive Allocation Rs.2.99 lakh cr 5 Years
Namami Gange Flagship Wastewater Treatment Program Rs.20,000 cr
Considering the entire execution of the aforesaid schemes in 10 years, there is a visibility of business of approx. Rs. 1 lakh cr every year, most of which the company is qualified
The company is targeting Rs. 2000-4000 cr high margin projects in the aforesaid business annually to sustain its profitability and growth
To be implemented in 2-3 years
Pradhan Mantri Krishi Sinchayee Yojana- Har Khet ko Pani Rs.93,068.56 cr
Dam Rehabilitation and Improvement Project (DRIP) Phase 2 & 3 Rs.10,211 cr
Atal Bhujal Yojana Rs.6000 cr
Currently tenders worth Rs. 10,000 cr are active in the market
National Watershed Project Rs.2,142 cr
National River Linking Project Rs.4,000 cr for 2024-25
Investor Presentation
17
\SPLEngineeringLifeI_lHarGhar.alJalJeevanMisslonDamRdnbilllatlonilmmmhqmHal.\Ii»iunfinRquwnuliual.unUrbanIiwnsfonnnriolNAHAMI1Ause:vmwvr. BESS Overview
III",IillllllIIIIIIIIUllau-..W\\EngineeringLife Energy Market Overview Pre-qualification to participate in BESS Tenders
Battery Energy Storage Systems (BESS):
➢ Projections: As per Central Electric Authority (CEA), and National Electricity Plan (NEP)
• By 2026-27: India will need about 34.72 GWh of energy storage capacity specifically from
BESS.
➢ Estimated Market Size: ~USD 8.4 Billion
• By 2031-32: This is expected to increase to 236.22 GWh from BESS.
➢ Estimated Cumulative Market Size: ~USD57 Billion
• By 2047: The requirement will rise to 1,840 GWh from BESS due to expanded renewable
energy integration to meet the net-zero emission targets.
➢ Estimated Cumulative market size: ~USD 443.4 Billion
➢ Drivers:
• Grid stability and renewable energy integration.
• Energy Storage Obligations (ESO).
SPML has necessary pre-qualifications to actively participate in Battery Energy Storage System (BESS) annuity tenders. This reflects SPML’s ability to meet the stringent technical, financial, and operational requirements essential for bidding on such projects. These qualifications highlight the company’s expertise in the growing field of energy storage, ensuring it is well-positioned to support large-scale renewable energy initiatives and contribute to the evolving needs of sustainable power infrastructure.
Investor Presentation
19
SPMLEngineeringLife.................................................................................................................................................01.................................................Lwt-iIIII Enters into India’s Next Big Energy Revolution with Grid-Scale BESS Rollout in Exclusive Collaboration with Energy Vault
Leading infrastructure development company with specific focus on India’s water and energy infrastructure sector
NYSE listed global leader in sustainable energy solutions
Expected Outcome: •
The agreement aims to accelerate the manufacturing and deployment of Energy Storage Systems in India by facilitating a technology transfer to SPML. This partnership will boost India's green energy sector by SPML using Energy Vault’s B-VAULT BESS innovative technology and VaultOS EMS software with increased availability of reliable and low-cost clean energy for customers across India Strengthening SPML’s position in India’s BESS market, expanding its market presence and revenue base, and establishing it as a prominent player
v
BESS Technology features: •
Suite of fully integrated battery energy storage solutions designed for reliability, flexibility and energy sustainability The innovative enclosure offers flexibility for 2–8-hour solutions with battery and inverter choices, plus AC- and DC-coupled configurations for seamless project integration Enhanced safety and cybersecurity, combined with native VaultOS EMS integration and competitive pricing, meet customer needs
•
•
•
•
Enables SPML: •
To deploy multi-GWh of BESS, supporting India’s renewable energy growth, with at least 500 MWh in the next 12 months and 30-40+ GWh over 10 years.
•
To leverage localized manufacturing and market expertise to enhance competitiveness in India's growing energy storage market as well as contract manufacturing for Energy Vault’s global business.
Sector Tailwinds: •
Increasing demand for energy storage
• Government policies mandating at
least 10% battery storage capacity in new solar and wind power projects
Collaboration poised to solidify SPML Infra’s position as leading player in Indian BESS Market
SPLEngineeringLife1ENERGYVAULT®EnablingaRenewableWorldAI@;)I@@I BESS - How is it related to the EPC Power projects and thus related to the projects being executed by SPML
In the traditional EPC Power Projects, SPML has primarily been executing Grid Scale Substation and Rural Electrification Projects. The following is the relative comparison between Traditional Power EPC Projects and BESS Projects.
Segments
Traditional Power Projects
BESS Projects
Engineering
Procurement
Engineering Activities includes Equipment Sizing, SLD, Layout, Civil Designs etc.
Engineering Activities includes Equipment Sizing, SLD, Layout, Civil Designs etc.
Procurement of All components like Transformers, Breaker, Cables, PLC- SCADA etc from OEM
Procurement of All components like Transformers, Breaker, Cables, PLC- SCADA etc from OEM. Additional procurement – DC Container & PCS
Construction
O&M / DLP
Installation and Commissioning of System. Civil Works
Installation and Commissioning of System. Civil Works
Generally 1-3 years combined with O&M.
10 – 12 Years O&M is involved. Cost based service
Difference
Same no change.
Scope remains same but SPML intends to assemble DC Containers and supply the product thus integrating value chains instead of buying from assemblers and loosing margin.
Same no change.
Same no Change but Additional Revenue Generation opportunity through LTSA.
Effectively, we are doing Power EPC with Value Addition in the hope to be come a dominant player in the BESS Industry in India.
Investor Presentation
21
§PMLEngineeringLifeiiI Key Highlights
,IilllllllIIIIIIIIIIIIUllau-..EngineeringLife Key Actions
Resolution with IDRCL
Liquidity Creation to drive new Business Growth
Impact of Restructuring
Progress in Arbitration Award Collections
Significant Financial Growth in FY24
To Improve the liquidity and to increase their stake, the promoters have infused Rs. 80 cr in the company by way of preferential allotment at the price of ~Rs. 118 and the allotment has been made on 23 May, 2024.
With the detailed review of the company’s assets & liabilities, during the resolution process with IDRCL, the company has taken one time impact on the books of accounts along the implementation of restructuring as per IND AS
Out of the impending realization of Rs. 294 crore from VSV, we have already received Rs. 243 crore in FY24. The remaining Rs. 51 cr will be received shortly.
The consortium of erstwhile lenders have assigned their debt to NARCL. The NARCL through their attorney, IDRCL, have executed MRA on 17 May 2024 and subsequently withdrawn all the pending applications of erstwhile lenders at NCLT and DRT. The NARCL has demonstrated faith in the company by doing the first acquisition and resolution outside NCLT
In FY24, company achieved substantial financial improvements, a turnover of Rs. 1,318 cr, representing a ~50% YoY growth. The company's net worth increased to Rs. 509 cr from Rs. 349 cr in FY23. Current assets stood at Rs. 885 cr, including cash and bank balance of Rs. 227 cr. During FY24, the company's debt was reduced to Rs. 558 cr, considering IND AS adjustments, out of which Rs. 189 cr already repaid and a further reduction of Rs. 40 cr expected from the sale of identified properties.
Improved Solvency Ratios
With significant improvements in various solvency ratios, including Net Debt/Equity (now at 0.7x), Net Debt/EBITDA (now at 4.2x), and the Quick Ratio (now at 1.45x), our credentials and qualifications for participating in new tenders have substantially strengthened.
Investor Presentation
23
luSPMEngineeringLife\LI"mx/`o:<-/T/.1I| Resolution with NARCL/IDRCL
Significant Debt reduction & withdrawal of all actions of the lenders
No default in the lenders’ liability
Repayment from proceeds of arbitration awards
No interest outgo and no repayment pressure on cash flow
Rs. 1,657 cr
Total Outstanding Debt under resolution plan
Sustainable Debt
Rs. 967 cr
SPML Infra Ltd.
If payment made in 10 Years under base case
Rs. 700 cr
If payment made in 8 Years under prepayment mode
Unsustainable Debt
Rs. 602 cr
(converted into Zero Coupon NCDs) To be extinguished entirely on repayment of sustainable debt without any further payment
Unsustainable Debt Rs. 88 Cr Allotment of equity value at applicable prevailing market price of Rs. 118 by way of conversion of unsustainable debt.
Interest component is included in the total outflow of repayments, hence no further payment of Interest
The company has already repaid Rs. 219 cr from the proceeds of VSV and making payment of Rs. 40 cr from the sale of identified assets
The repayment from the cash flow is Rs. 16 cr in 10 years option or Rs. 12 cr in 8 years option, of which Rs. 4 cr has already been paid
The repayments are linked with realization from arbitration awards, claims and from specified assets
Poised to strengthen balance sheet and financials
Investor Presentation
24
.......................................IIInI Preferential Allotment Infusion of funds by the Promoters
Successfully raised funds through preferential allotment
The Preferential allotment of Rs. 346 crore (including conversion of debt of the lenders and the promoters), involves a Rs. 190 crore contribution from the promoters. This reflects their strong focus and confidence in the business.
Funds raised would be majorly utilized to take advantage of growing opportunities in the water sector, bidding for large new projects for which the company has superior pre- qualification requisite that will strengthen the order book
Apart from the current infusion as stated above, promoters have already infused more than Rs. 160 crore to improve liquidity in the last 3 years
With the proposed infusion of Rs. 293 crore and existing visibility of Rs. 170 crore, the company is expected to have a total cash liquidity of Rs. 463 crore for business operations.
Investor Presentation
25
SPMLEngineeringLife\l'§v Planned Liquidity Boost to Drive Business Growth
Challenges addressed
Delay in realization of Arbitration Amounts
Delay in Debtor Realization
Rs.
30 cr
Promoter Capital Infusion
Rs.
15 cr
Sale of non-core assets
SPML Infra Ltd.
Rs.
75 cr
balance proceeds under Settlement in VSV Scheme
Rs.
50 cr
Share warrants to Promoters
Total planned Liquidity Rs. 463 Cr.
Rs.
293 cr
Preferential Allotment via Equity and Warrants
Poised to increase Order Book and Revenue
-Out of the above liquidity, cumulative FDR of around Rs 83 cr has been created after the payment to NARCL
Investor Presentation
26
\SPLEngineeringLife SPML Infra Limited has been assigned a credit rating by ICRA
Instrument
Long Term-Fund Based-Term Loan (Rated amount – Rs. 477 crore)
Long Term / Short Term Non Fund Based-Proposed (Rated amount – Rs. 200 crore)
Rating Action
[ICRA] BBB-(Stable); assigned
[ICRA]BBB-(Stable) [ICRA] A3; assigned
SPAALr_MITl Awards & Claims
illlIIIIIIIIIIIIllll,IUlla.rf.I"nWZ42"ll\:~\\\.....................................................1'W1.l\EngineeringLife Arbitration Awards
Particulars
Amount (Rs.cr)
(Awards – with accrued interest up to 31st March, 2024)
PSU – Remaining Awards eligible under Vivad Se Vishwas II Scheme
PGCIL
State Government
Total Awards (with accrued Interest till Jan 2025)
26.0
48.6
561.7
636.3
• The actual receipt of Arbitration Awards will be the cumulative of Interest till the date of actual receipt against the amount reflected in the table.
• Out of the state Government awards, arbitration award of Rs. 181 cr from Arunachal Pradesh Govt. undertaking is at the final stages at the Hon’ble Supreme Court.
Arbitration Awards
Rs. 294 cr Expected from Vivad-Se Vishwas Scheme
Rs. 268 cr Sum received till date
Rs. 26 cr To be received shortly
Investor Presentation
29
'n'QPAALEngineeringLifenII Arbitration Claims
Particulars
Total Claims already filed till date
Rs.4,606.7 Cr
Claims filed till date-PSU
Claims filed till date-Non PSU
Total Claims already filed till date
Amount (Rs. Cr)
332.0
4,274.7
4,606.7
- The Aforesaid amount will further increase with additional filing of claims which are under process and the company’s focus will be to
realize the amount to reduce the NARCL dues.
- The Claim amount will be increased by Pendentlite Interest from the date of filing claims till the date of Award Order which will increase
the claims amount substantially as stated in the above table.
Investor Presentation
30
'n'QPAALEngineeringLife+ Environmental, Social, & Governance
\\"JE:8QuillllllIIIIIIIIIII",IUlla........................kg\§\Q.EngineeringLife ESG
Business Responsibility and Sustainability Report (BRSR)
BRSR Report to form a part of the FY24 Annual Report
`
BRSR Report •
The publication of Business Responsibility and Sustainability Report (BRSR), taking a significant step towards sustainability
Self Initiated •
Initiative taken despite not falling under regulatory compliances
ESG Highlights • •
Focus on the non financial performance across ESG framework Establishing long term goals towards ESG guidelines
Investor Presentation
32
SPMLEngineeringLife\ Aligned to National & International Frameworks
ESG focus areas identified by Management
Water management | Wastewater management | Resource efficiency and waste management | Health & safety | People and team | Training, education and skill development | Corporate Governance and Ethical Business Practices | Innovation and Digitization | Compliance and regulatory adherence
Financial implications of the risk or opportunity of the identified material issue:
Environment
Water management • Attract socially responsible
•
investors Secure steady revenue from long- term contracts
• Boost project sustainability
credentials
Social
People and team
• Increase productivity • Reduce absenteeism • Become an employer of choice • Improve decision-making with empowerment
Governance
Corporate Governance and Ethical Business
•
•
Improved brand perception among clients Less regulatory notices/penalties
Positive financial implication
Positive financial implication
Positive financial implication
•
Resource efficiency and waste management Save costs by reducing material usage Lower waste disposal fees Enhance reputation through compliance with current and upcoming legislation
• •
Training, education, and
skill development
• Provide competitive edge • Improved quality of work • Attract and retain talent
Innovation and digitalization
• Increased productivity • Reduced operational costs • Expedite project execution • Optimized decision- making
process
Positive financial implication
Positive financial implication
Positive financial implication
Health and safety
• Reduced costs from fewer
accidents and related insurance claims Enhanced employee productivity and retention
•
Positive financial implication
SPL1vEngineeringLifeI::IIIIIIIIIIIIIIiI Financial & Operational Highlights
.,,we"ll\§~\Q.I_\IIIIIIIIilllllllIIIIIIEngineeringLifeUlla Q3FY25 Financials (Standalone)
Revenue (Rs. cr)
Revenue
EBITDA (Rs. cr)
PAT (Rs. cr)
259.1
200.8
200.7
26.0
23.0
14.0
10.4
Q3FY24
Q2FY25
Q3FY25
Q3FY24
Q2FY25
Q3FY25
Q3FY24
Q2FY25
Q3FY25
4.8
1.0
EBITDA Margins
PAT Margins
12.9%
11.5%
7.0%
5.2%
1.9%
Q3FY24
Q2FY25
Q3FY25
0.4%
Q3FY24
Q2FY25
Q3FY25
Investor Presentation
35
\SPMLEngineeringLife 9M-FY25 Financials (Standalone)
Revenue (Rs. cr)
867.1
622.7
EBITDA (Rs. cr)
PAT (Rs. cr)
75.7
9M-FY24
9M-FY25
9M-FY24
9M-FY25
11.4
EBITDA Margins
12.2%
9M-FY25
1.3%
9M-FY24
2.2
9M-FY24
PAT Margins
0.3%
9M-FY24
37.5
9M-FY25
6.0%
9M-FY25
Investor Presentation
36
\SPMLEngineeringLife Financial Year Result Highlights (Standalone)
Revenues (Rs. cr)
EBITDA (Rs. cr)
PAT (Rs. cr)
878
FY23
1,318
FY24
Factors driving Profitability
Margin 6.3%
55
FY23
Margin 6%
80
FY24
2
FY23
20
FY24
•
•
•
•
•
Access to numerous business opportunities ensures a continuous flow of projects.
In the future, revenue is expected to rise driven by an expanding order book.
Long-term partnerships with central and state water bodies, which are fully funded, facilitate the acquisition of lucrative contracts, bolstering revenue.
A high prequalification status allows the company to undertake superior quality projects, leading to increased revenue streams.
In future profitability will further improve as there is no interest outgo and no cash flow of the company is used for debt repayment. As per the requirement of IND AS, Rs. 189 cr, gain on the discounted value of the sustainable debt, will be accounted for proportionately in the next 8 years to restate the debt at Rs. 700 cr. However, the same will be compensated with the proportionate deferred income which will be accounted every year to take the advantage of Rs. 267 cr, the differential of both the options of repayment to NARCL.
Investor Presentation
37
\SPMLEngineeringLife60°/alO*2//Z//1/,1//ZI1/fo*\N'i.'(\/31o/%5°/'A",of'»+@<$e,'zeo*57 Robust Balance Sheet (Standalone)
Net Worth (Rs. cr)
Debt (Rs. cr)*
622
1,704
509
349
558
407
FY23
FY24
Sep-24
FY23
FY24
Sep-24
*Aforesaid Debt figure is after accounting for IND AS Requirements
Investor Presentation
38
\SPMLEngineeringLife7/IZf//IfZ/ZI//fZI///f1f\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\\:A Key Ratio
Debt to Equity (x)
Debt to EBITDA (x)
Current Ratio (x)
4.9
30.7
Company is in the process of becoming debt free
1.1
0.7
Improved efficiency and better debt management
7.2
3.2
Reducing the risk of cash flow problems and enhancing operational stability
1.03
1.52
1.50
FY23
FY24
TTM
FY23
FY24
TTM
FY23
FY24
TTM
Return on Equity (%)
Return on Capital Employed (%)
4.5%
5.3%
Efficient management and effective use of shareholders' funds
0.6%
FY23
FY24
TTM
9.5%
7.0%
2.4%
FY23
FY24
TTM
Investor Presentation
39
\SPMLEngineeringLife.U Projects executed In India
3000 MM Dia MS Pipeline, Sauni Yojana, Gujarat
125 MLD Water Treatment Plant, Rajasthan
Bisalpur Jaipur Water Supply Pipeline
340 MLD Pumping Station for Treated Effluent Disposal, Yamuna Vihar, New Delhi
160 MLD Water Treatment Plant, Rajasthan
200 MLD Surajpura Water Treatment Plant
240 MLD Sewage Treatment Plant, Gujarat
300 Mn Ltr Raw Water Reservoir, Pokhran
500 MLD Water Pumping Station, Bangalore
Investor Presentation
40
`'SivPMLEngineeringLifeNJII\.'l.lmgWil"ItIam.1NI,HMIin~ll.IillMal About SPML Infra
SPML Infra Ltd. is a leading publicly listed infrastructure development company in India with a rich legacy encompassing over four decades. The company has executed and commissioned nearly 700 infrastructure projects across India, significantly contributing to the nation’s development. SPML Infra Ltd. has enhanced the lives of millions by providing essential services such as drinking water facilities, wastewater treatment, integrated sewerage networks, improved municipal waste management, power transmission and distribution, and electrification of rural homes. Recognized among the World’s Top 50 Private Water Companies and India’s 50 Best Real Estate & Infrastructure Companies, SPML Infra Ltd. operates primarily in the engineering, procurement, and construction (EPC) segment.
The company is primarily focused on the water and wastewater sector, where substantial opportunities are emerging due to significant government funding. With approximately ₹10 trillion allocated for water and sanitation infrastructure development projects in the coming years, SPML Infra Ltd., as a leading player in the industry, is strategically positioned to secure numerous contracts from both central and state governments, thereby enhancing its business prospects.
Registered & Corporate office 22, Camac Street,Block - A, 3rd Floor Kolkata – 700016. Contact: +91 33 4009 1200
Internal Auditor & ESG Consultant: Ernst & Young (E&Y) LLP 22, Camac Street, 3rd Floor Block C, Kolkata-700016
Credit Rating Agency: ICRA Limited Gurgaon. Building No. 8, 2nd Floor, Tower A, DLF Cyber City, Phase II, Gurgaon - 122 002
Statutory Auditor: Maheshwari & Associates 8B, Middleton Street, 6A Geetanjali Kolkata – 700071
ASM & Concurrent Auditor: KPMG Lodha Excelus, Apollo Mill Compound, Mumbai
Solicitor Firm: Argus and Partners 27B, 3rd Floor, Binoy Bhavan, Camac St, Kolkata, West Bengal 700016
Investor Presentation
41
`'SP[\/\LEngineeringLife SPML INFRA LIMITED Kapil Joshi – Investor.relations@spml.co.in
www.spml.co.in
ADFACTORS PR PVT LTD Snighter Albuquerque snighter.a@adfactorspr.com
Pratik Patil pratik.patil@adfactorspr.com +91 82915 10324
Pranay Premkumar pranay.premkumar@adfactorspr.com +91 99207 66560
J0J.(,~jww%I'Li/)l/an"T-*.»'*`ifusY._Engineering\Life