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Sadbhav Group Corporate Presentation Sadbhav group Corporate Presentation May 2018 Disclaimer This presentation and the accompanying slides (the “Presentation”),which have been prepared by Sadbhav Group (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward – looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to, the performance of the Indian economy, the performance of the infrastructure industry in India and world - wide, competition, the company’s ability to successfully implement its strategy, the Company’s future level so growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cashflows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s factual results, level so activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. Agenda 1. Sadbhav group Snapshot 4 2. Business Overview – Sadbhav Engineering Limited (SEL) 12 3. BOT Holding Co.- Sadbhav Infrastructure Project Limited (SIPL) 20 4. Financials 31 5. Annexures 35 3 Sadbhav group Snapshot Corporate Structure Sadbhav Engineering Limited 68.82% EPC Business Sadbhav Infrastructure Project Limited (SIPL) Transport Irrigation Mining BOT Annuity HAM Rs. 107,751 mn Rs. 4,538 mn Rs. 20,203.5 mn 5 Sadbhav Group- List of BOT/HAM Projects HAM Project Portfolio SIPL SEL J.V BOT Project Portfolio SIPL SEL J.V 1 Sadbhav Rudrapur Highway Private Limited (SRHPL) 100.0% 0.0% 0.0% 1 Ahmedabad Ring Road Infrastructure Limited (ARRIL) 100.0% 0.0% 0.0% 2 Sadbhav Nainital Highway Private Limited (SNHPL) 100.0% 0.0% 0.0% 2 Aurangabad Jalna Tollway Limited (AJTL) 100.0% 0.0% 0.0% 3 Sadbhav Bhavnagar Highway Private Limited (SBHPL) 100.0% 0.0% 0.0% 3 Nagpur Seoni Expressway Limited (NSEL) 100.0% 0.0% 0.0% 4 Sadbhav Una Highway Private Limited (SUHPL) 100.0% 0.0% 0.0% 4 Hyderabad Yadgiri Tollway Private Limited (HYTPL) 100.0% 0.0% 0.0% 5 Sadbhav Bangalore Highway Private Limited (SBGHPL) 100.0% 0.0% 0.0% 5 Bijapur-Hungund Tollway Private Limited (BHTPL) 77.0% 0.0% 23.0% 6 Sadbhav Udaipur Highway Private Limited (SUDHPL) 100.0% 0.0% 0.0% 6 Rohtak Panipat Tollway Private Limited (RPTPL) 100.0% 0.0% 0.0% 7 Sadbhav Vidarbha Highway Private Limited (SVDHPL) 100.0% 0.0% 0.0% Sadbhav Jodhpur Ring Road Highway Private Ltd Maharashtra Border Check Post Network Limited 8 100.0% 0.0% 0.0% 7 77.5% 6.1% 16.4% (SJRRHPL) (MBCPNL) 1 9 Sadbhav Vishkapatnam Road Private Ltd (SVRPL) 100.0% 0.0% 0.0% 8 Dhule Palesner Tollway Limited (DPTL) 99.9% 0.1% 0.0% 10 Sadbhav Bhimasar Bhuj Highway Private Ltd (SBBHPL) 100.0% 0.0% 0.0% 9 Shreenathji-Udaipur Tollway Private Limited (SUTPL) 100.0% 0.0% 0.0% 11 Sadbhav Tumkur Highway Private Ltd (STHPL) 100.0% 0.0% 0.0% 10 Bhilwara Rajsamanad Tollway Private Limited (BRTPL) 100.0% 0.0% 0.0% 12 Sadbhav Kim Expressway Private Ltd (SKEPL) 100.0% 0.0% 0.0% 11 Rohtak Hisar Tollway Private Limited (RHTPL) 100.0% 0.0% 0.0% 13 Mysore Bellary Highway Private Limited(MBHPL) 2 0.0% 74.0% 26.0% Note: 1. Share purchase agreement (SPA) has been signed for stake transfer of 10.0% stake from Srei group to SIPL. SPA has been signed for stake sale of 2.6% stake to D.Thakkar Construction Private Ltd or its associates 2. SPA has been signed for stake transfer of 74% stake from SEL to SIPL and 26% stake from GKC Projects to SIPL. MBHPL is the subsidiary of Sadbhav Engineering Limited Under the HAM portfolio. Operational Under Construction Under Development SEL - Snapshot . Sadbhav Engineering Limited (SEL), incorporated in 1988, is engaged in o Engineering, Procurement and Construction (EPC) business for Transport, Mining and Irrigation sector o Development of roads & highways on Build, Operate and Transfer (BOT) through Sadbhav Infrastructure Project Limited (SIPL) . Well diversified order book of Rs 132,493 mn as on 31st March, 2018 with presence in 15 different states . Company has strong in-house integrated execution capabilities with highly qualified human resources and state of the art equipments. Gross block of fixed assets as on 31st March 2018 stands at Rs. 7,305 mn . Equity shares were listed in 2006 on BSE & NSE with a market cap of Rs 2,016 mn. As on 28th May, 2018 the market cap stands at ~Rs 65,045 mn. Long-term facilities & NCDs are rated A+ by CARE and short-term facilities/CP are rated A1+ by CARE . Diversified shareholding with FIIs and DIIs holding at ~ 15.54% and 22.34% respectively as on 31st March 2018 . During FY18, SEL achieved a standalone & consolidated turnover of Rs 35,050 mn & Rs 49,747 mn respectively . Company has been making profits since inception in its standalone business and has paid regular dividend over the last 16 years . Completed the construction of prestigious Eastern Peripheral Expressway (EPE) within 20 months as compared to scheduled timeline of 30 months Order Book Rs 1,32,493 mn – March, 2018 Projects Completed Till Date Key Clients 3% 15% Segment Size Transport – Roads Over 7,551 lane kms 81% Irrigation – Canal Over 656 kms work Transport Irrigation Mining Order book (incl L1) to sales ratio stands at 3.7 x Mining Over 501 mn cubic mt FY18 revenue providing good revenue visibility 7 SIPL - Snapshot Only listed Road & Highways BOT company in India with a portfolio of 11 BOT projects and 12 Hybrid Annuity projects . Promoted by Sadbhav Engineering Limited (SEL) in 2007 to operate Road BOT projects for Sadbhav Group . Owns a project portfolio consisting of ten operational BOT projects, one partially operational BOT project and twelve Hybrid Annuity (HAM) projects under development. Besides this, acquisition of stake in Mysore Bellary Highway Project Limited (MBHPL) from SEL & JV partner is under process. Financial closure have been achieved for 7 HAM projects and construction has begun for all 7 HAM projects . Track record of completing nine out of ten operational projects on time or before scheduled date . Total project costs for eleven BOT projects is INR 102,144 mn and equity invested (including subdebt) as on March 2018 is INR 21,543 mn. Total project costs for twelve HAM projects is INR 110,810 mn and equity invested (including subdebt) as on March 2018 is INR 2,689 mn. Eight out of eleven operational BOT projects and Seven out of twelve HAM projects have credit rating of A- or above. Enjoys benefit of an integrated structure with presence across the entire road sector value chain with strong finance, execution and toll collection and O&M capabilities. Successfully raised INR 4,916 mn through listing at BSE & NSE in September 2015 of which fresh issue consisted of INR 4,250 mn. As on 28th May, 2018 the market capitalization of SIPL stood at INR 45,824 mn. Long-term facilities & NCDs are rated A+ (SO) by CARE . Consolidated total income stood at INR 23,224 mn for the financial year ending 2018 . Average residual life for the entire portfolio (including HAM projects) is 16 yrs and 4 months providing stability of revenue Project Costs based on 23 projects Geographically diversified portfolio1 Rs mn Toll Annuity Hybrid Annuity Total 3% 3% 4% Maharashtra Operational 83,597 3,748 - 87,344 2% 22% Haryana Partly Operational 14,800 - - 14,800 21% 11% Karnataka Construction - - 110,810 110,810 18% 16% Rajasthan Total 98,397 3,748 110,810 212,955 Gujarat Telangana 1 8 Based on Total Project Costs of 23 projects SEL - Shareholding Pattern Shareholding Pattern as on 31st March 2018 Strong Institutional Presence Category No. of shares % Promoter Group 79,734,880 46.47% Public Shareholding 91,835,920 53.53% Institutions 80,576,260 46.96% - Mutual Funds / UTI/FIs/Banks 38,340,230 22.35% - Life insurance companies 15,569,200 9.07% - FPIs 26,666,830 15.54% Non-Institutions 11,259,660 6.56% Total Shareholding 171,570,800 100.00% Strong Institutional Presence over the years.. 100% 4.76% 11.52% 8.03% 5.34% 7.76% 6.30% 6.57% 90% 80% 45.98% 70% 41.05% 44.72% 45.13% 46.53% 48.48% 46.96% 60% 50% 40% 30% 47.43% 47.25% 48.68% 20% 47.11% 47.17% 46.76% 46.47% 10% 0% 2012 2013 2014 2015 2016 2017 2018 9 Promoter Institution Non-Institution SIPL - Shareholding Pattern Shareholding Pattern as on 31st March, 2018 Strong Institutional Presence Category No.
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