Welspun Enterprises Q4FY18 Concall Summary

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Infrastructure Highlights

  •  Currently the portfolio value of the HAM model stood at INR 7000 crores
  • EPC business of the firm which currently stood at INR 5500 crores might get escalated to INR 6000 crores
  • The first phase of the Delhi-Meerut Expressway was completed 14 months before the scheduled delivery date and company has already applied for the provisional completion certificate
  • They are hopeful to deliver other projects as well on or before time namely GSY, CGRG
  • The financial closure of the Aunta-Simaria had been completed already and the appointment date might get scheduled in the Q1 of FY 2019
  • Company had already started minting money from two of its projects and revenues from other projects are expected to come very soon
  •  In addition to the bid of Rs 1837.32 crores for L1 project, two other projects with the cumulative bid value of INR 2000 crores were placed
  • Company is hopeful of winning additional orders of INR 5000 crores and the revenue projections are expected to touch INR 1000 crores which would double year after year

Financial Highlights

  • The total income of the year ended stood at INR 1093 crores
  • EBITDA of the company showed whopping improvement of 145% from last year to reach the value of INR 166 crores
  • PBT and PAT increased by 225% and 154% respectively to reach the figure of INR 139 crores and INR 110 crores
  • Net worth of the company at the end of the year stood at INR 1457 crores with a cash surplus of INR 647 crores
  • Assets worth value of INR 726 crores were under investment at the end of the year

HAM Projects

  • In the Oil & Gas the company would invest between INR 150-175 crores in the coming years
  • In the Tamilnadu project an investment of INR 360 crores had already been done against the announced investment of INR 480 crores

Inland Waterways Business

  • The company would start bidding for the projects from Q2 FY2019 and is expecting to book orders of value INR 1000 crores

SPV Debt

  • The SPV debt of the Delhi-Meerut Expressway stood at INR 372 crores at the end of the financial year

Oil & Gas

  • The revenues from the oil & gas division are expected to come from Q3 or Q4 of the financial year 2020

Business Strategy

  • The company has the clear aim of gaining operational efficiency
  • The strategy remains simple, complete the project in the least possible time and the safest way possible by doing so they would be able to de-risk the investments

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