VA Tech Wabag Limited has informed the Exchange regarding Investor Presentation
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National Stock Exchange of India Limited Exchange Plaza, Plot No. C/1, G Block, Bandra Kuria Complex, Bandra (E), Mumbai — 400 051
NSE Symbol: WABAG / BSE Scrip Code: 533269
Dear Sir / Madam,
An ISO 9001 Company 21st May 2019
BSE Limited, Floor 25, P J Towers, Dalai Street, Mumbai — 400 001
Sub: Presentation on Audited Financial Results for the quarter & year ended
31st March 2019
Pursuant to Regulation 30 of SEBI (Listing Obligations & Disclosure Requirements) Regulations 2015 ("SEBI Regulations"), please find enclosed a presentation on the Audited Financial Results of the Company for the quarter & year ended 31st March 2019 made to Investors/ Analysts.
The aforesaid presentation is also being hosted on the website of the Company, www.wabaq.com in accordance with Regulation 46 of the SEBI Regulations.
Kindly take on record the same.
Thanking you,
Kindly take note of the above.
Thanking you,
For VA TECH WABAG LIMITE
R S AMINATHAN COMPANY SECRETARY Encl: as above
es_
A/34 10-A—) HENNAI 600 117
Sustainable solutions, for a better life
ABAG
VA TECH WABAG LIMITED CIN : L45205TN1995PLC030231 "WABAG HOUSE" No.17, 200 Feet Thoraipakkam - Pallavaram Main Road, Sunnambu Kolathur, Chennai - 600 117, India.
Board : +91-44-3923 2323 :+91-44-4223 2323 Fax : +91-44-3923 2324 Email : wabag@wabag.in Web : www.wabag.com
VA TECH WABAG LTD.
RESULT UPDATE PRESENTATION Q4 & FY 19
Safe Harbour
This presentation and the accompanying slides (the “Presentation”), which have been prepared by VA TECH WABAG 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.
This presentation contains certain forward looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the company.
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Index
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2
3
Key Highlights FY 19
Quarterly Performance
Order Book Analysis
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Business Overview
Refinery and Petrochemical Integrated Development Project (RAPID), Pengerang, Johor, Malaysia
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Key Highlights FY 19
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Key Highlights FY 19
Consolidated Revenue at INR 27.8
Bn
Consolidated PAT at INR 1,050
Mio
Order Intake of over INR 48 Bn
Order Book over INR 92 Bn
including framework orders
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Dinapur Sewage Treatment Plant, Varanasi, UP, India
Quarterly Performance
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RESULTS OVERVIEW – Consolidated Profit and Loss
Rs. Millions
Q4 FY 19 Q4 FY 18
YOY %
FY 19
FY 18
YOY %
Revenue from operations Cost of Sales Total Cost of Operations (TCO) EBITDA before Forex
6,793 10,374
(34.5%)
27,810
34,572 (19.6%)
5,027
8,125
(38.1%)
21,213
27,336
(22.4%)
1,298
1,237
5.0%
4,453
4,224
5.4%
468
1,012
(53.8%)
EBITDA margin
6.9%
9.8%
Forex (Gain) / Loss
64
62
3.2%
Net Finance Cost
213
132
61.6%
Depreciation & Amortization
42
45
(6.2%)
3,012
(28.8%)
8.7%
94
~
520
36.6%
178
(5.7%)
2,144
7.7%
207
710
168
200
~
~
68
(30)
191
(131)
~
408
597
(31.7%)
1,050
1,315
(20.2%)
6.0%
5.8%
3.8%
3.8%
Share of Profits from Associates / MI (Net) Profit After Tax (Owners) PAT margin
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• Key contributors of
revenue and margins in FY18 (AMAS & RAPID) have completed during the year
• New key overseas orders yet to pick up full execution momentum
• Translation driven
forex losses
increase driven by higher working capital and interest rates
Tax
(191)
146
774 (74.2%)
• Net finance cost
RESULTS OVERVIEW – Standalone Profit and Loss
Rs. Millions
Q4 FY 19 Q4 FY 18
YOY %
FY 19
FY 18
YOY %
Revenue from Operations
Cost of Sales
Total Cost of Operations (TCO)
EBITDA before Forex
4,354
5,346
(18.5%) 17,481
18,563
(5.8%)
3,014
4,175
(27.8%) 13,001
14,361
(9.5%)
944
396
711
32.8%
2,689
2,265
18.7%
460
(13.9%)
1,791
1,937
(7.5%)
EBITDA margin
9.1%
8.6%
10.2% 10.4%
Dividend Income
Forex (Gain) / Loss
3
47
-
(5)
~
~
3
76
201
(98.8%)
21 260.5%
Net Finance Cost
144
58 144.2%
464
284
63.3%
Depreciation & Amortization
20
25
(18.4%)
85
91
(6.9%)
Tax
(199)
117
~
145
571
(74.6%)
Profit After Tax
388
265
(48.0%)
1,024
1,171
(12.0%)
PAT margin
8.9%
4.9%
5.9%
6.3%
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• Revenue de-growth driven by delay in realization and consequent startup from new projects
• Operating TCO in
control; increase in TCO driven by prudent provisioning for doubtful debts
• Dividend income
earned from overseas projects included in previous year PAT
• Tax refund order
received w.r.t 80IA
RESULTS OVERVIEW – Balance Sheet
Rs. Millions
Total Equity (Net Worth)
Non-Current Liabilities
Trade Payables
Short Term Borrowings
Other Current Liabilities
Total Equity & Liabilities
Fixed Assets
Other Non-Current Assets
Trade Receivables *
Cash & Bank Balances
Other Current Assets *
Total Assets
Consolidated
Standalone
Mar’19
Mar ’18
Mar’19
Mar ’18
10,856
2,732
15,914
4,841
3,442
11,624
2,732
14,899
4,274
3,774
9,167
2,135
11,145
3,410
2,237
9,169
1,995
9,255
2,763
2,497
37,785
37,303
28,094
25,679
1,570
5,314
13,511
1,790
15,600
37,785
1,768
5,337
13,028
1,852
15,318
37,303
794
5,009
875
5,162
12,317
11,122
734
9,240
568
7,952
28,094
25,679
* Reclassification of POC Receivables from ‘Trade Receivables’ to ‘Other current assets’
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RESULTS OVERVIEW – Working Capital Highlights
Rs. Millions
Inventories
Trade Receivables
Loans and Advances
Other Current Assets
Total Current Assets (A)
Trade Payables
Other Current Liabilities and Provisions
Mar’19
Sep’18
Mar ’18
153
395
382
13,510
14,626
13,028
446
14,997
29,106
15,914
3,442
414
348
16,461
14,587
31,896
28,345
16,213
14,899
4,012
3,774
Total Current Liabilities (B)
19,356
20,225
18,673
Net Working Capital (NWC)
Net Working Capital (No. of Days)
9,750
130
11,671
9,672
122
98
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Revenue Breakup – FY 19
Rs. Millions
EPC
O&M
Total
Municipal
Industrial Municipal
Industrial
Wabag India
7,919
7,267
1,337
338
16,861
EPC
O&M
13%
87%
Wabag Overseas
3,973
4,527
1,307
563
10,370
Municipal
Industrial
Total
11,892
11,794
2,644
901
27,231
47%
EPC [Rs. Bn.]
O&M [Rs. Bn.]
30.1
23.6
4.1
3.5
FY 18
FY 19
FY 18
FY 19
53%
India
Europe MDUs*
IIUs
#
19%
19%
62%
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* Multi Domestic Units # India International Units
Key Projects Contributing to Revenue – FY 19
Project Details
Desal & STP Order, Saudi Arabia
Dangote, Nigeria - ETP & RWTP
Petronas RAPID, Malaysia – ETP
HMEL, Bathinda – ETP
Polghawela, Sri Lanka – WTP
Koyambedu, Chennai – TTP
K&C Valley, Bengaluru – STP
Barmer, Rajasthan – Integrated Water Supply Project
Duong River, Vietnam – WTP
Karmalichak, Bihar – Sewerage System & PS
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Revenue recognized [Rs. Mn]
3,193
2,403
2,383
1,307
1,194
1,181
885
737
531
519
Order Book Analysis
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Order Intake Breakup
Rs. Millions
EPC
O&M
Total
O&M
EPC 10%
Municipal
Industrial Municipal
Industrial
Wabag India
21,355
10,541
1,409
1,357
34,662
90%
Wabag Overseas
9,409
2,738
1,364
612
14,123
Municipal
Industrial
Total
30,764
13,279
2,773
1,969
48,785
31%
Key Orders Received
KMDA, Howrah – STP [ Namami Gange ]
JAJMAU, Kanpur – CETP [ Namami Gange ]
Order Value (Rs. Mn.)
5,748
4,645
69%
India
Europe MDUs*
IIUs
#
3%
26%
71%
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* Multi Domestic Units # India International Units
WABAG’s presence in Namami Gange States
Image for representation purpose only; not to scale
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Order Book Composition
Rs. Millions
EPC
O&M
Total
Municipal
Industrial Municipal
Industrial
Wabag India
32,758
15,634
11,322
1,963
61,677
Wabag Overseas
19,858
3,023
996
369
24,246
EPC
O&M
17%
83%
Municipal
Industrial
Framework Contracts
6,996
24%
Total
52,616
18,657
12,318
2,332
92,919
14.7
71.2
14.9
53.1
FY 18
FY 19
O&M
EPC
76%
#
India
Europe MDUs*
IIUs
4%
24%
72%
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* Multi Domestic Units # India International Units
Order Book of Rs. 85.9 Bn & Framework Contracts of Rs. 6.9 Bn
Key Contracts in Orderbook
Key Framework Contracts *
Project Details
Amt [Rs. Mn]
Expansion SWTP 9, Jubail, KSA – STP
KMDA, Howrah – STP
50 MLD Zarat, Tunisia – Desal
South Doha, Qatar – STP
MRPL, Karnataka – Desal
Dangote, Nigeria – ETP & RWTP
JAJMAU, Kanpur – CETP
Polgahwela, Srilanka – WTP
Koyambedu, Chennai – TTP
K&C Valley, Bengaluru – STP
7,886
5,748
5,175
5,163
4,288
4,201
4,018
3,537
2,883
2,743
Libya STP of Rs. 6,114 Mn
Koye Fetche, Ethiopia of Rs. 882 Mn
* Contracts wherein Advance Monies / LC awaited, hence
not taken in Order Book
Guidance for FY 20 Revenue : INR 34 Bn – INR 37 Bn & Order Intake : INR 50 Bn – INR 54 Bn
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For further information, please contact
Company :
Investor Relations Advisors :
VA Tech Wabag Ltd. CIN - L45205TN1995PLC030231
Stellar IR Advisors Pvt. Ltd. CIN - U74900MH2014PTC259212
investors@wabag.in
www.wabag.com
Mr. Gaurang Vasani, Managing Director vgaurang@stellar-ir.com
www.stellar-ir.com
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