Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Q4 FY2020 Earnings Presentation
21 slides from Ashoka Buildcon's earnings presentation, Jun 16, 2020
Slide 1: Stock exchange cover letter for result update presentation
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: Result Update Presentation Q4FY20
Developing Infrastructure for Better Tomorrow Developing Infrastructure for Better Tomorrow RESULT UPDATE RESULT UPDATE PRESENTATION | Q4FY20 PRESENTATION | Q3FY19
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 Developments
Key Developments Revenue (Rs Mn) Receipt of Provisional Certificate (PCOD) for Kharar Ludhiana Road Project (HAM) Commercial Operation Date (COD) – March 31, 2020 39,363 40,824 Received Letter of Award (LOA) worth Rs. 10,355 Mn from NHAI for road project under Bharatmala Pariyojana (Package-III) i
Slide 5: Impact of Covid-19
Impact of Covid-19 • The COVID-19 pandemic led to a nationwide lockdown halting economic activities across most sectors- Construction activities also came to halt & Toll Plazas were shut amid lockdown across the Country • Commenced construction activity in a phased manner, adhering to the prescribed
Slide 6: Standalone Profitability Highlights (as per IND-AS)
Standalone Profitability Highlights (as per IND-AS) Rs mn Q4 FY20 Q4 FY19 Y-o-Y(%) Q3 FY20 Q-o-Q(%) FY20 FY19 Y-o-Y(%) Total Income from Operations 12,548 13,074 9,836 39,374 38,206 Other Income 346 380 369 1,449 1,157 Revenue 12,893 13,454 -4.2% 10,205 26.3% 40,824 39,363 3.7% Operating Expenses 10
Slide 7: Standalone Balance Sheet (as per IND-AS)
Standalone Balance Sheet (as per IND-AS) Rs mn Mar-20 Mar-19 Rs mn Mar-20 Mar-19 Shareholder’s Fund 25,989 22,120 Non-current assets 29,173 29,664 Share capital 1,404 1,404 Fixed assets 3,586 3,854 Reserves & Surplus 24,586 20,717 Other Non-current assets 25,587 25,810 Non-current liabilities 5,632
Slide 8: Consolidated Profitability Highlights (as per IND-AS)
Consolidated Profitability Highlights (as per IND-AS) Rs mn FY20 FY19 REVENUE 51,522 50,072 IND-AS accounting treatment for CCDs in Operating Expenses 34,953 35,358 Ashoka Concession EBITDA 16,569 14,714 CCDs issued to SBI Macquarie treated as Financial EBITDA margin 32.16% 29.40% Liability & Reco
Slide 9: Consolidated Balance Sheet (as per IND-AS)
Consolidated Balance Sheet (as per IND-AS) Rs mn Mar-20 Mar-19 Rs mn Mar-20 Mar-19 Shareholder’s Fund 4,143 2,869 Non-current assets 1,01,409 96,849 Share capital 1,404 1,404 Fixed assets 77,699 79,319 Reserves & Surplus 2,739 1,465 Other Non-current assets 23,710 17,531 Non-Controlling Interest 1,2
Slide 10: Debt Profile as of March 2020
Debt Profile as of March 2020 Consolidated Debt (Rs. Mn) Consolidated Cash & Bank Balance (Rs. Mn) Project Debt incl. ACL NCD Standalone Debt Standalone Cash & Bank Balace 7,544 56,790 58,810 56,755 7,199 5,146 3,996 3,228 49,591 53,664 52,759 2,342 2,911 550 496 Mar'19 Dec'19 Mar'20 Mar'19 Dec'19 M
Slide 11: EPC Business Highlights
ASHOKA EPC BUSINESS HIGHLIGHTS
Slide 12: EPC order backlog of Rs. 83.8 bn, 2.1x FY20 Revenue
EPC order backlog of Rs. 83.8 bn, 2.1x FY20 Revenue Order backlog of Rs 83.8 bn as on 31st March, 2020 Segment Rs. Mn Segment Rs. Mn Roads 67,168 Others HAM 43,242 Power T&D & Others 6,989 HAM: Khrar - Ludhiana, Punjab 2,088 HAM: Anandpuram 2,097 Maharashtra 249 HAM: Vadodara Kim, Gujarat 4,183 Biha
Slide 13: Order Book- Break-up (As on March 31, 2020)
Order Book- Break-up (As on March 31, 2020) Robust Order Book Order Book Break-up (%) 0.7% 83,940 83,792 ` 10.8% 81,683 * 80,924 # 74,855 ^ 8.3% 51.6% 28.6% Mar'19 Jun'19 Sep'19 Dec'19 Mar'20 Road HAM Road EPC Power T&D & Others Railways CGD * Excludes LoA received for HAM Tumkur – Shivamoga IV ^ Ex
Slide 14: EPC business financial performance
EPC business financial performance Figures in Rs Mn Revenue# EBITDA and EBITDA Margin 17% 15% 15% 16% 18% 39,363 40,824 7,306 6,309 25,461 20,245 20,852 3,383 3,912 3,146 FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 PAT and PAT Margin Order Book 5% 8% 9% 7% 9% 83,940 83,792 * 70,047 3,871 58,48
Slide 15: Development Business
ASHOKA DEVELOPMENT BUSINESS
Slide 16: Gross toll collection
Gross toll collection (Rs. Mn) Q4 FY 20* Q4 FY 19 Y-o-Y (%) Q3 FY 20 Q-o-Q (%) ACL BOT Projects Belgaum Dharwad 226.2 234.6 -3.6% 234.0 -3.3% Dhankuni - Kharagpur 878.6 883.8 -0.6% 906.6 -3.1% Bhandara 182.4 177.8 2.6% 179.6 1.5% Durg 200.7 206.8 -2.9% 199.7 0.5% Jaora - Nayagaon 423.5 489.7 -13.5%
Slide 17: Annual Gross toll collection
Annual Gross toll collection (Rs. Mn) FY 20* FY 19 FY 18 ACL BOT Projects Belgaum Dharwad 910 915 878 Dhankuni - Kharagpur 3,605 3,510 3,176 Bhandara 705 674 648 Durg 789 794 785 Jaora - Nayagaon 1,754 2,020 2,029 Sambalpur 674 718 633 Sub-total 8,437 8,629 8,149 ABL BOT Projects Ahmednagar - Aurang
Slide 18: Toll collection: ACL projects
Toll collection: ACL projects Figures in Rs Mn Company Ashoka Belgaum Dharwad Tollway Ltd. Company Ashoka Dhankuni Karagpur Tollway Ltd. Rs. Million Rs. Million Project Belgaum Dharwad Project Project Dhankuni Karagpur Project Period 2017-18 2018-19 2019-20 % rise Period 2017-18 2018-19 2019-20 % ri
Slide 19: Toll collection: ACL projects
Toll collection: ACL projects Company Jaora - Nayagaon Toll Road Company Pvt Ltd. Rs. Million Project Jaora – Nayagaon Road Project Period 2017-18 2018-19 2019-20 % rise April-June 473.5 516.4 459.8 -11.0% July-Sept 502.6 516.4 432.4 -16.3% Oct-Dec 529.9 497.4 438.6 -11.8% Jan-Mar 523.1 489.7 423.5
Slide 20: Toll collection: ABL owned projects
Toll collection: ABL owned projects Figures in Rs Mn Company Ashoka Buildcon Ltd. Ashoka DSC Katni Bypass Road Ltd. Project Ahmednagar - Aurangabad Road Katni Road Project Period 2017-18 2018-19 2019-20 % rise 2017-18 2018-19 2019-20 % rise April-June 64.4 93.7 83.6 -10.7% 55.4 58.1 59.9 3.0% July-S
Slide 21: For further information, please contact
For further information, please contact: Company : Investor Relations Advisors : Ashoka Buildcon Ltd. Stellar IR Advisors Pvt. Ltd. Mr. Paresh Mehta Mr. Gaurang Vasani / Ms. Hina Agarwal paresh.mehta@ashokabuildcon.com vgaurang@stellar-ir.com / hina@stellar-ir.com CIN : L45200MH1993PLC071970 CIN : U