Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Q2 FY2022 Earnings Presentation
22 slides from Ashoka Buildcon's earnings presentation, Nov 14, 2021
Slide 1: Result Update Presentation cover letter to exchanges
Ashoka Buildcon Limited To, To, The Manager, The Manager, The Department of Corporate Services The Listing Department BSE Limited National Stock Exchange of India Limited Floor 25, P. J. Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scri
Slide 2: Developing Infrastructure for Better Tomorrow - Result Update Presentation Q2FY22
Developing Infrastructure for Better Tomorrow | | | | RESULT UPDATE PRESENTATION | Q2FY22
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which have been prepared by Ashoka Buildcon 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 securi
Slide 4: Key Highlights: Projects Awarded
Key Highlights Receipt of LOA for EPC road project worth Rs. 15,675 Mn from Adani Road Transport Limited ◼ Project includes execution of Civil & associated works of Six Laning of National Corridor NH-19 from Pangarh to Palsit from km. 521.120 to km. Projects Awarded 588.870 (total design length 67.7
Slide 5: Key Highlights: Acquisitions and SBI Macquarie Update
Key Highlights Acquisition of stake in Ashoka Highways (Durg) Limited ◼ ACL has entered into Share Purchase Agreement (SPA) with ‘Highway Concessions One Private Limited (HC1)’ for purchase of 49% stake (i.e. 14,560,442 equity shares of Rs.10/- each)) held by HC1 in ‘Ashoka Highway Durg Limited (AHD
Slide 6: Result Highlights H1FY22 (Standalone) and Revenue Break-up
Result Highlights – H1FY22 (Standalone) Revenue# EBITDA Profit after tax 31.4% 13.3% 6.7% 20,348 1,968 3,110 3,317 1,738 15,480 H1FY21 H1FY22 H1FY21 H1FY22 H1FY21 H1FY22 In Rs. Mn Revenue Break-up H1 FY22 Roads Power T&D Railways CGD Others (incl. buildings & smart infra) 30.5% 0.8% 98.1% 33.6% 12.7
Slide 7: Standalone Profitability Highlights
Standalone Profitability Highlights Rs mn Q2 FY22 Q2 FY21 Y-o-Y(%) Q1 FY22 Q-o-Q(%) H1FY22 H1FY21 Y-o-Y(%) Total Income from Operations 9,171 8,775 10,114 19,285 14,499 Other Income 590 498 472 1,063 982 Revenue 9,762 9,273 5.3% 10,586 -7.8% 20,348 15,480 31.4% Operating Expenses 8,116 7,465 8,915 1
Slide 8: Standalone Balance Sheet (as per IND-AS)
Standalone Balance Sheet (as per IND-AS) Rs mn Sep-21 Mar-21 Rs mn Sep-21 Mar-21 Shareholder’s Fund 32,035 30,067 Non-current assets 32,075 32,236 Share capital 1,404 1,404 Fixed assets 2,611 2,871 Reserves & Surplus 30,631 28,664 Other Non-current assets 29,464 29,365 Non-current liabilities 4,831
Slide 9: Consolidated Profitability Highlights
Consolidated Profitability Highlights Rs mn Q2 FY22 Q2 FY21 Y-o-Y(%) Q1 FY22 Q-o-Q(%) H1FY22 H1FY21 Y-o-Y(%) Total Income from Operations 12,649 11,893 12,832 25,480 19,506 Other Income 398 287 270 668 599 Revenue 13,047 12,180 7.1% 13,101 -0.4% 26,149 20,105 30.1% Operating Expenses 8,571 7,972 8,8
Slide 10: Consolidated Balance Sheet (as per IND-AS)
Consolidated Balance Sheet (as per IND-AS) Rs mn Sep-21 Mar-21 Rs mn Sep-21 Mar-21 Shareholder’s Fund 7,610 6,193 Non-current assets 1,01,830 1,03,102 Share capital 1,404 1,404 Fixed assets 74,454 75,495 Reserves & Surplus 6,207 4,790 Other Non-current assets 27,376 27,606 Non-Controlling Interest 2
Slide 11: Debt Profile as of September 2021
Debt Profile as of September 2021 Consolidated Debt (Rs. Mn) Consolidated Cash & Bank Balance (Rs. Mn) Standalone Cash & Bank Balance Project Debt incl. ACL NCD Standalone Debt 6,207 5,955 5,670 61,569 62,414 64,655 3,623 5,263 3,834 57,946 57,151 60,821 972 457 264 Mar'21 Jun'21 Sep'21 Mar'21 Jun'2
Slide 12: EPC Business Highlights
ASHGOKA EPC BUSINESS HIGHLIGHTS
Slide 13: EPC order backlog of Rs.118.8 bn, 3.0x FY21 Revenue
EPC order backlog of Rs.118.8 bn, 3.0x FY21 Revenue Order backlog of Rs. 118.8 bn as on 30th Sep 2021 Segment Rs. Mn Segment Rs. Mn Roads 72,682 Others 46,150 HAM 28,130 Power T&D & Others 18,496 HAM: Tumkur-ShivamogaIV, Karnataka 8,920 Rajasthan 6,096 HAM: Tumkur-Shivamoga III, Karnataka 5,102 Jamm
Slide 14: Order Book- Break-up
Order Book- Break-up 1,18,832 16.1% 0.5% 23.7% 93,000 94,723 91,515 6.7% 81,669 15.6% 37.5% Sep'20 Dec'20 Mar'21 Jun'21 Sep'21* Road HAM Road EPC Power T&D & Others Railways CGD EPC Buildings Figures in Rs Mn * Excludes Magaldoi Power, Assam order 13
Slide 15: HAM Project Portfolio - Status
HAM Project Portfolio - Status Estimated Equity % Stake Estimated Annuity Equity Grant Invested Total Debt Projects Status TPC Grant Received (ACL/ABL) (including Debt Received* (including Drawn* (Annuity+int) PIM) PIM)* Kharar-Ludhiana 100% COD(P) 14,500 6,400 2,100 6,000 6,113 2,106 5,680 1,720 Ra
Slide 16: EPC business financial performance
EPC business financial performance Figures in Rs Mn Revenue# EBITDA and EBITDA Margin 15% 16% 18% 18% 16% 39,363 40,824 40,096 7,306 7,116 6,309 25,461 20,348 3,912 3,317 FY18 FY19 FY20 FY21 H1FY22 FY18 FY19 FY20 FY21 H1FY22 PAT and PAT Margin Order Book 9% 7% 9% 10% 10% 1,18,832 3,871 4,081 83,940
Slide 17: Development Business
ASHGOKA DEVELOPMENT BUSINESS
Slide 18: Gross toll collection
Gross toll collection Rs mn Q2 FY22 Q2 FY21 Y-o-Y(%) Q1 FY22 Q-o-Q(%) ACL BOT Projects Belgaum Dharwad 250.8 201.2 24.7% 189.5 32.4% Dhankuni - Kharagpur 970.5 933.1 4.0% 849.1 14.3% Bhandara 201.3 179.0 12.5% 168.0 19.9% Durg 229.6 196.9 16.7% 192.5 19.3% Jaora - Nayagaon 452.1 424.4 6.5% 368.3 22.
Slide 19: Toll collection: ACL projects
Toll collection: ACL projects Company Ashoka Belgaum Dharwad Tollway Ltd. Company Ashoka Dhankuni Karagpur Tollway Ltd. Project Belgaum Dharwad Project Project Dhankuni Karagpur Project Period 2019-20 2020-21 2021-22 % rise Period 2019-20 2020-21 2021-22 % rise April-June 236.8 117.6 189.5 61.1% Apr
Slide 20: Toll collection: ACL projects
Toll collection: ACL projects Company Jaora - Nayagaon Toll Road Company Pvt Ltd. Project Jaora – Nayagaon Road Project Period 2019-20 2020-21 2021-22 % rise April-June 459.8 225.3 368.3 63.5% July-Sept 432.4 424.4 452.1 6.5% Oct-Dec 438.6 448.9 - - Jan-Mar 423.5 455.1 - - 1,754.3 1,553.6 820.4 - As
Slide 21: Toll collection: ABL owned projects
Toll collection: ABL owned projects Company Abhijeet Ashoka Infrastructure Pvt. Ltd. Ashoka DSC Katni Bypass Road Ltd. Project Wainganga Bridge Katni Road Project Period 2019-20 2020-21 2021-22 % rise 2019-20 2020-21 2021-22 % rise April-June 76.5 48.7 75.4 54.7% 59.9 46.6 57.0 22.2% July-Sept 72.4
Slide 22: For further information, please contact
FOR FURTHER INFORMATION, PLEASE CONTACT: Ashoka Buildcon Limited Mr. Paresh Mehta paresh.mehta@ashokabuildcon.com CIN : L45200MH1993PLC071970 S. No. 861, Ashoka House, Ashoka Marg, Nashik - 422 011 Tel. No. 0253 - 6633705 www.ashokabuildcon.com Stellar IR Advisors Pvt. Ltd. Mr. Gaurang Vasani / Ms.