Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Q2 FY2020 Earnings Presentation
21 slides from Ashoka Buildcon's earnings presentation, Nov 14, 2019
Slide 1: Ashoka Buildcon Limited – Result Update Presentation covering letter
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 Scrip
Slide 2: Developing Infrastructure for Better Tomorrow – Result Update Presentation Q2FY20
Developing Infrastructure for Better Tomorrow Developing Infrastructure for Better Tomorrow RESULT UPDATE RESULT UPDATE PRESENTATION | Q2FY20 PRESENTATION | Q3FY19
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides (the “Presentation”), which hav e been prepared by Ashoka Buildcon Limited (the “Company”), hav e been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any secu
Slide 4: Key Developments
Key Developments Revenue (Rs Mn) L-1 worth Rs. 10,795 Mn from Uttar Pradesh Expressways Industrial Development Authority (UPEIDA) for Road project on EPC basis 17,725 Project entails development of Bundelkhand Expressway Project ("Package-Ill") from Kaohari (Dist. Mahoba) to BaroliKharka (Dist. Ha
Slide 5: Standalone Profitability Highlights (as per IND-AS)
Standalone Profitability Highlights (as per IND-AS) Q2 FY20 Q2 FY19 Y-o-Y(%) Q1 FY20 Q-o-Q(%) H1 FY20 H1 FY19 Y-o-Y(%) Rs mn Total Income from Operations 8,223 7,644 8,768 16,991 14,482 Other Income 392 157 342 734 523 Revenue 8,615 7,802 10.4% 9,110 -5.4% 17,725 15,005 18.1% Operating Expenses 6,99
Slide 6: Standalone Balance Sheet (as per IND-AS)
Standalone Balance Sheet (as per IND-AS) Rs mn Sep-19 Mar-19 Rs mn Sep-19 Mar-19 Shareholder’s Fund 23,490 22,120 Non-current assets 29,216 29,665 Share capital 1,404 1,404 Fixed assets 3,800 3,855 Reserves & Surplus 22,087 20,716 Other Non-current assets 25,416 25,810 Non-current liabilities 6,831
Slide 7: Consolidated Profitability Highlights (as per IND-AS)
Consolidated Profitability Highlights (as per IND-AS) Rs mn Q2 FY20 Q2 FY19 Y-o-Y(%) Q1 FY20 Q-o-Q(%) H1 FY20 H1 FY19 Y-o-Y(%) Total Income from Operations 10,378 10,049 11,681 22,059 19,668 Other Income 152 133 187 339 340 Revenue 10,530 10,181 3.4% 11,868 -11.3% 22,398 20,008 11.9% Operating Expen
Slide 8: Consolidated Balance Sheet (as per IND-AS)
Consolidated Balance Sheet (as per IND-AS) Rs mn Sep-19 Mar-19 Rs mn Sep-19 Mar-19 Shareholder’s Fund 2,843 2,869 Non-current assets 98,913 96,849 Share capital 1,404 1,404 Fixed assets 78,575 79,319 Reserves & Surplus 1,439 1,465 Other Non-current assets 20,338 17,531 Non-Controlling Interest 1,235
Slide 9: Debt Profile as of September 2019
Debt Profile as of September 2019 Consolidated Debt (Rs. Mn) Project Debt incl. ACL NCD Standalone Debt 5,810 4,581 50,529 54,222 Jun'19 Sep'19 Consolidated Debt beak-up (Rs. Mn) Standalone Debt beak-up (Rs. Mn) Standalone debt 4,581 - Equipment loan 2,276 Project debt 52,722 - Working capital 805 N
Slide 10: EPC Business Highlights
ASHOKA EPC BUSINESS HIGHLIGHTS
Slide 11: EPC order backlog, 1.9x FY19 Revenue
EPC order backlog, 1.9x FY19 Revenue Order backlog of Rs 74.9 bn as on 30th September, 2019 Segment Rs. Mn Segment Rs. Mn Roads 56,238 Others BOT 38,145 Power T&D 7,162 HAM: Khrar - Ludhiana, Punjab 3,315 Maharashtra 57 HAM: Anandpuram 4,066 Bihar 3,388 HAM: Vadodara Kim, Gujarat 6,660 1,697 Uttar P
Slide 12: Order Book - Break-up (As on September 30, 2019)
Order Book- Break-up (As on September 30, 2019) Robust Order Book Order Book Break-up (%) 1.0% 97,637 95,373 14.3% 83,940 81,683 * 74,855 ^ 9.6% 51.0% 24.2% Sep'18 Dec'18 Mar'19 Jun'19 Sep'19 Road BOT Road EPC Power T&D EPC Railways CGD * Excludes LoA received for HAM Tumkur – Shivamoga IV ^ Exclude
Slide 13: EPC business financial performance
EPC business financial performance Figures in Rs Mn Revenue# EBITDA and EBITDA Margin 17% 15% 15% 16% 17% 39,363 6,309 25,461 20,245 20,852 3,912 17,725 3,383 3,146 3,058 FY16 FY17 FY18 FY19 H1FY20 FY16 FY17 FY18 FY19 H1FY20 PAT and PAT Margin Order Book 5% 8% 9% 7% 8% 83,940 70,047 74,855 * 2,862 5
Slide 14: Development Business
ASHQOKA DEVELOPMENT BUSINESS
Slide 15: Gross toll collection
Gross toll collection (Rs. Mn) Q2 FY 20 Q2 FY 19 Y-o-Y (%) Q1 FY 20 Q-o-Q (%) ACL BOT Projects Belgaum Dharwad 212.5 218.0 -2.5% 236.8 -10.3% Dhankuni - Kharagpur 915.1 877.9 3.1% 904.5 1.2% Bhandara 168.3 160.4 4.9% 174.3 -3.4% Durg 190.3 192.5 -1.1% 198.3 -4.0% Jaora - Nayagaon 432.4 516.4 -16.3%
Slide 16: 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 17: 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 - - Jan-Mar 523.1 489.7 - - 2,029.1 2,0
Slide 18: 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 19: Standalone Profitability Highlights (as per IND-AS)
Standalone Profitability Highlights (as per IND-AS) Rs mn FY19 FY18 Y-o-Y(%) Total Income from Operations 38,206 24,483 Other Income 1,157 978 REVENUE 39,363 25,461 54.6% Operating Expenses 33,055 21,548 EBITDA 6,309 3,912 61.3% EBITDA margin 16.0% 15.4% Interest 907 485 Depreciation 763 532 Profit
Slide 20: Consolidated Profitability Highlights (as per IND-AS)
Consolidated Profitability Highlights (as per IND-AS) Rs mn FY19 FY18 REVENUE 50,072 36,546 IND-AS accounting treatment for CCDs in Operating Expenses 35,358 24,635 Ashoka Concession EBITDA 14,714 11,911 CCDs issued to SBI Macquarie treated as Financial EBITDA margin 29.4% 32.6% Liability & Record
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