#1Investor Presentation Q1FY 24 Date: August 11, 2023 NCC#2Forward Looking Statement NCC This presentation contains certain forward looking statements concerning NCC'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 ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage operations, government policies and actions with respect to investments, fiscal deficits, regulations, geopolitical risks and Covid 19 pandemic, interest and other fiscal costs generally prevailing in the economy etc. Past performance of the company may not be indicative of future performance. 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. 2#3NCC Building the Nation ESIC Hospital, Gulbarga NCC Airport Agartala, Tripura AIIMS, Guwahati, Assam Nagpur Metro Rail Agra-Lucknow Expressway, UP KM 144 10/04/2017 Chandni Chowk Flyover, Pune 3#4NCC Building the Nation SVAB, ISRO, Sriharikota, Andhra Pradesh Seabird Project, Karwar, Karnataka Water Supply Project, Angul, Odisha NCC Nagpur Metro Rail (Double Decker) Housing Project, Bhubaneshwar Rubber Dam on Falgu River, Gaya, Bihar#5NCC Building the Nation AIIMS, Bilaspur, Himachal Pradesh Airport Agartala, Tripura LELLE Makara Dhokra, WCL (Minning) NCC MANGA ARPORT AGARTALA 444 Pune Metro Rail Nagpur-Mumbai Expressway SICPAC Auditorium, Shillong, Meghalaya 5#6NCCL- Business Constitutes S.No Particulars 1 Construction i) NCC Limited.......... ii) Pachhwara Coal Mining Private Limited 2 Real Estate i) NCC Urban Infrastructure Limited 3 Others i) BOT Roads ....... Total Q1FY24 Revenue Mix % 87.5% 10.6% 1.6% 0.3% 100.0% NCC 6#7Key highlights - 1st Quarter FY24 NCC Particulars Reported highest ever Turnover in 1st Quarter ✓ Significant order inflow in 1st quarter ✓ Reported highest ever gross profit in 1st quarter ✓ Recorded lowest debt in 1st quarter of the last 10 years ✓ Robust Order Book stands at highest ever ✓ Secured award for "Excellence in Cost Management - 2022" from The Institute of Cost Accountants of India. Rs.3866 crs Rs. 8154 crs Rs.588 crs Rs.1306 crs Rs.54110 crs 7#8Order Booking in the 1st Quarter FY24 NCC Particulars ✓ Phenomenal growth in Order Booking in Q1 on Year on Year by ✓ Significant increase in average size of Q1 new orders ✓ Order book grown from Rs 50244 Crs to 83% Rs 679 crs Rs.54110 crs 14000 12000 10000 8000 6000 4456 2661 4000 2000 Order Inflow - Quarter wise 5495 13283 8154 0 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 8#9Major Orders Received in Q1 FY24 S.No. Name of the Client Work Name Rs. in Crores Amount 1 Haryana International Horticulture Marketing Development of India International Horticulture Corporation Limited, Haryana 2199.14 market (IIHM) at Ganaur, District - EPC mode in the State of Haryana. 2 State water & Sanitation Mission, Govt of Uttar Pradesh Rural Piped Water Supply Project under Jal Jeevan Mission 1667.84 3 Construction of structures at Airport at Navi Mumbai 1144.07 4 719.53 5 6 Navi Mumbai International airport Pvt Ltd Andhra Pradesh Central Power Distribution Corporation Limited, Vijayawada. Maharashtra State Electricity Distribution Co.Ltd Govt. of Jharkhand, Drinking Water & Sanitation Department Supply & Installation of plant and Civil Contract for Development of Distribution Infrastructure at Krishna & Guntur districts under RDSS Scheme. Supply & Installation of plant and Civil Contract for Development of Distribution Infrastructure at Ahmednagar & Aurangabad Circles under RDSS Scheme. Survey, designing and drawing, construction of R.C.C. Intake Well cum Pump House, Water Treatment Plant etc. and 5 years O&M. 538.24 419.66 NCC 9#10Composition of Order Inflow & Order Execution in Q1FY24 Order Inflow: Rs 8154 crs Order Execution: Rs 4287 crs ■ Others, 0% ■ Electrical, 21% Water & Railways, 9% ■ Transportatio n, 1% ■ Buildings, 69% Others, 0% Mining, 13% Irrigation, 3% Electrical, 14% Water & Railways, 16% ■ Transportation 11% NCC Buildings, 44% 10#11NCC Order Book Composition division-wise Order Book as on 31.03.2023 Rs 50244 crs Order as on 30.06.2023 Rs 54110 crs ■ Others, 0% ■ Mining, 10% ■Irrigation, 1% ■ Electrical, 14% Water & Railways, 16% Transportatio n, 12% ■ Buildings, 46% ■ Mining, 9% ■■■ Others, 0% ■ Irrigation, 1% ■ Electrical, 15% Water & Railways, 15% ■Transportation , 11% Buildings, 50% 11#12Operating Performance - Standalone for the 1st Quarter ended 30-06-2023 Rs. Crores Q1 Particulars Change YOY Growth FY24 FY23 Revenue 3866 2990 876 29% Gross Profit 588 465 124 27% EBITDA 381 281 99 35% PAT 162 120 42 NCC ✓ Revenue increased by 29%, primarily driven by Buildings division & Electrical division ✓ EBIDTA margin increased from 9.51% to 9.92%, primarily due to volume increase. 35% PAT margin increased from 4.01% to 4.20%. 12#13Operating Performance - Standalone (quarter wise) EBITDA 450 424 381 400 349 350 281 289 300 250 200 150 100 50 50 0 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Revenue 4500 4016 3838 4000 3373 3500 2959 3004 3000 2500 2000 1500 1000 500 0 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 Rs. Crores NCC Net Profit 200 178 162 180 150 160 120 122 140 120 100 80 60 40 20 0 Q1FY23 Q2FY23 Q3FY23 Q4FY23 Q1FY24 13#14Operating Performance - Consolidated for the 1st Quarter ended 30-06-2023 Rs. Crores Q1 Particulars FY24 Change FY23 YoY Growth Revenue 4407 3351 1056 32% Gross Profit 626 501 125 25% EBITDA 409 308 101 33% PAT (Equity shareholders) 174 130 44 34% NCC 14#15Group Companies Performance Name of the Company Sub. Cos./JCEs/Associate Cos Pachhwara Coal Mining (P) Ltd. 1st quarter ended Rs. in Crores 30-06-2023 30-06-2022 Turnover PAT Turnover PAT 466.2 13.8 265.5 7.9 NCC Urban Infrastructure Limited 74.3 10.1 88.2 9.4 OB Infrastructure Limited 15.0 3.3 13.6 3.5 NCC Infrastructure Holdings Limited 0.1 (0.2) 0.1 (0.2) NCC Internationl LLC, Oman 1.0 0.0 2.7 0.1 Consolidation Adj./Non-Controlling Interests Total (A+B) (15.8) (15.8) (8.8) (11.1) 540.8 11.3 361.2 9.6 ✓ Significant increase in the Turnover of Mining MDO Project. NCC 15#16Balance Sheet - Standalone Particulars As at Crores Inc/ 30.06.23 31.03.23 (Dec) ✓ Inventory NCC Increase from Rs.1078 to Rs.1246 crs by 15%, is inline with the Construction activity. ✓ Trade Receivables Assets Property, Plant and Equipment 1173 1178 -5 Investment Property & Intangible Assets 227 229 -2 Investments (Current & Non-Current) 875 875 0 ✓ Loans (Current & Non-Current) 355 372 -16 • Inventories 1246 1078 168 Trade Receivables (Current & Non-Current) 3063 2945 118 ✓ Cash & Bank (inc. MM deposits) 804 734 70 Contract Assets (UBR) 3679 3225 454 Other Current & Non-Current Assets 5390 4964 425 ✓ Total 16812 15600 1212 • • Increased by 3% QoQ as against 30% increase in turnover. The trade receivable days have come down to 82 days from 87 days QoQ. Unbilled Revnue Increased by Rs 446 crs from Rs 3671 crs to Rs 3225 crs, it is in line with the volume of activity. Gross Block (Capex) Gross block increased only by Rs 27crs crs in the 1st quarter from Rs 2491crs to Rs 2518 crs Other Current & Non-Current Assets. Other Current & Non-Current Assets Comprises mainly advance to suppliers & subcontractor, Tax assets and Retention money. Increase is in line with the growth in volume. 16#17Balance Sheet - Standalone Crores As at Inc/ Particulars 30.06.23 31.03.23 (Dec) Equity & Liabilities Equity & Other Equity 6484 6322 162 . Borrowings (Current & Non-current) 1306 980 327 Trade Payables (Current & Non-current) 5059 4823 237 Mobilisation Advance 3322 2755 567 Other Current & Non-Current Liabilities 640 720 -80 Total 16812 15600 1212 NCC ✓ Debt The debt is increased from Rs.980 crs to Rs.1306 crs by Rs.327 crs Generally, in construction industry, the debt increases in the 1st quarter but the increase in this quarter is below the normal increase. However phenomenal decline in debt as compared to corresponding quarter of the previous year. ✓ Mobilization Advance . The mobilization advance is increased from Rs 2755 crs to Rs 3322 crs basing on the strong order acquisition taken place in the last year. 17#18Working Capital - Standalone Working Capital - Movement Crores Particulars FY20 FY21 FY22 FY23 Q1FY24 Turnover 8219 7256 9930 13351 3838 % of Growth -32.0% -11.7% 36.9% 34.5% 29.8% Working Capital 3713 3995 3604 % of Increase 7.5% 7.6% -9.8% 3874 7.5% 11.4% 4315 WC - as % of Turnover 45% 55% 36% 29% 28% WC DAYS (*) 159 194 140 102 97 *Excl. Cash & MM deposits ✓ Significant reduction in working capital as a % of revenue Year -on-Year ✓ Good collections were happened from the clients in last 2 quarters, particularly from the UP Water Projects ✓ Recorded lowest working capital days in Q1of FY24 NCC 18#19Cash Flows - Standalone Cash Flow Quarter on Quarter S.No Particulars Crores Q1FY24 Q1FY23 A Net Cash Flows used in Operating Activities (123) (523) B Net Cash Flows used in Investing Activities Free Cash Flows (37) (109) (160) (632) C Net Cash Flows from Financing Activities 203 478 D Net increase/(Decrease) in cash and cash equivalents 43 (154) ✓ Significant improvement in operating cash inflows as compared to same quarter of the previous year. ✓ Outflows in Investing Activities declined YoY. ✓ Quantum of usage of borrowings have come down significantly. NCC 19#20Cash Flows - Consolidated Cash Flow Quarter on Quarter S.No Particulars Crores Q1FY24 Q1FY23 A Net Cash Flows used in Operating Activities (93) (452) B Net Cash Flows used in Investing Activities (74) (100) Free Cash Flows (167) (552) C Net Cash Flows from Financing Activities. 177 400 D Net increase/(Decrease) in cash and cash equivalents 9 (152) NCC 20 20#21NCC Debt status - Standalone Debt for the Quarter ended June 30, 2023 Crores S.No Particulars 30.06.23 30.06.22 A Gross Debt B Less: Cash and cash Equivalents C Net Debt 1,306 1,707 271 81 1,036 1,626 ✓ The lowest debt in the 1st Quarter reflects good inflows from the client. ✓ A phenomenal Decline in the debt by 57% on Year on Year ✓ The net debt as low as Rs 1,036 crs 21 21#22Significant Key Initiatives NCC Particulars ✓ Focusing to enter into the new verticals to clinch major orders as a part of Strategic Plan to maintain 20% growth year-on-year ✓ Strengthening in-house abilities in Planning, Engineering, Designing process, Digitalization, Quality, Safety, Governance etc. ✓ Keeping debt at low level to maintain adequate head room for growth plans ✓ Maintaining an optimum distribution of works across all major states to minimize risk of collection and execution 22 22#23Outlook NCC ✓ The Company achieved a Revenue CAGR of 17% in the last 3 years and Company planning to continue sustainable growth. ✓ The present Order Book containing more escalation projects which insulate against any escalation in the input prices. ✓ The favorable mix of interest bearing and non-interest bearing (50:50) mobilization advance orders reduce the interest cost going forward. ✓ The Order Book contains more of Central Govt. funding and increased portion of private orders lower the working capital days. ✓ The stable economy, strong Balance Sheet of the Banks, Capex plan of the Govt., give further momentum to continue its growth journey. ✓ The biggest order in the Order Book "UP Jal Jeevan Water Project" Rs.16,500 crs has picked-up good progress, contributed more revenue in Q1 of FY24 and continue its more contribution in the remaining quarters of the year. 23#24Thank you