Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Q2 FY23 Earnings Presentation
22 slides from Ashoka Buildcon's earnings presentation, Nov 13, 2022
Slide 1: Exchange filing cover letter for result update presentation
ASHOKA To, The Manager, The Department of Corporate Services BSE Limited Floor 25, P. J. Towers, Dalal Street, Mumbai — 400 001 Scrip Code : 533271 November 13, 2022 Ashoka Buildcon Limited To, The Manager, The Listing Department National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla
Slide 2: Result Update Presentation Q2 FY23
Developing Infrastructure for Better Tomorrow | | | | RESULT UPDATE PRESENTATION | Q2 FY23
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 – Q2FY23
Key Highlights – Q2FY23 LOA from East Central Railways of Rs. 208.89 Crs in August, 2022 Project viz. 'Provision of Train Collision Avoidance System along with two 24 Fiber OFC backbones in the sections between Pt. Deen Dayal Upadhyay and Pradhankhunta of the East Central Railway. Completion per
Slide 5: Key Highlights – Q2FY23
Key Highlights – Q2FY23 Extension in Concession Period for NHAI Project in October, 2022 Ashoka Highways Durg Limited, a subsidiary of the Company, has received an extension of a total of 240 days in the Concession Period from the end date of the concession period i.e. July 22, 2028, to, March 19,
Slide 6: ABL - Business Structure – Pre & Post Transaction
ABL - Business Structure – Pre & Post Transaction EPC Business ABL Owned Projects Stake ACL and associates owned Projects (ABL Stake to move from current 66% to 100% post transaction) City Gas Distribution (CGD) 51% BOT Projects Part of Transaction Equity Sale Agreement with KKR Highway BOT Portfoli
Slide 7: Sale of equity in BOT Projects
Sale of equity in BOT Projects Sale of entire share capital to Galaxy Investments II Sale of 100% equity through Executed SPA with Pte. Ltd. (KKR-owned entity) National Investment and Infrastructure Fund Ltd. (NIIF) Asset Consideration Asset Consideration Ashoka Highways (Bhandara) Ltd. Chennai ORR
Slide 8: Standalone Profitability Highlights
Standalone Profitability Highlights Rs mn Q2FY23 Q2FY22 Y-o-Y (%) Q1FY23 Q-o-Q (%) H1FY23 H1FY22 Y-o-Y (%) Total Income from Operations 12,803 9,171 14,790 27,593 19,285 Other Income 297 590 312 609 1,063 REVENUE 13,099 9,762 34.2% 15,103 -13.3% 28,202 20,348 38.6% Operating Expenses 11683 8,116 133
Slide 9: Consolidated Profitability Highlights
Consolidated Profitability Highlights Rs mn Q2FY23 Q2FY22 Y-o-Y (%) Q1FY23 Q-o-Q (%) H1FY23 H1FY22 Y-o-Y (%) Total Income from Operations 18,077 12,649 18,786 36,862 25,480 Other Income 371 398 374 745 668 REVENUE 18,448 13,047 41.4% 19,159 -3.7% 37,608 26,148 43.8% Operating Expenses 13,782 8,571 1
Slide 10: Consolidated Balance Sheet (as per IND-AS)
Consolidated Balance Sheet (as per IND-AS) Rs mn Sept-22 Mar-22 Rs mn Sept-22 Mar-22 Shareholders’ Funds’ 15,794 13,808 Non-current assets 41,424 41,015 Share capital 1,404 1,404 Fixed assets 13,878 13,812 Reserves & Surplus 14,391 12,405 Other Non-current assets 27,546 27,203 Non-Controlling Intere
Slide 11: Debt Profile as of September 2022
Debt Profile as of September 2022 Consolidated Debt (Rs. Mn) Cash & Bank Balance Break up (Rs. Mn) Project Debt incl. ACL NCD Standalone Debt Consolidated Cash & Bank Balance Standalone Cash & Bank Balance 68,221 71,272 70,797 66,998 6,488 4,862 8,620 8,690 2,183 1,618 2,155 1,362 61,733 62,137 62,6
Slide 12: EPC Business Highlights
ASHGKA EPC BUSINESS HIGHLIGHTS
Slide 13: Current EPC order backlog of Rs. 149 bn
Current EPC order backlog of Rs. 149 bn Order backlog of Rs. 149 bn as of 30th September 2022 Segment Rs. Mn Segment Rs. Mn Roads 82,625 Others EPC Projects 66,385 HAM 26,892 Power T&D 22,331 Tumkur-Shivamoga IV, Karnataka 8,269 Rajasthan 4,432 Tumkur - Shivamoga II, Karnataka 2,425 Jammu & Kashmir
Slide 14: Order Book- Break-up
Order Book- Break-up Figures in Rs Mn 1,49,009 EPC Road HAM, [VALUE] Buildings , 18.0% [VALUE] 19.2% [VALUE] 1,18,832 CGD, 0.30% Railways, 10.0% Power T&D Road EPC, & Others, 37.4% Sep'21 Dec'21 Mar'22 Jun-22 Sep'22 15.0% 13
Slide 15: HAM Project Portfolio - Status
HAM Project Portfolio - Status Figures in Rs Mn Estimated PIM Annuity % Stake TPC Grant Estimated Grant Equity PIM Total Debt Projects Status Equity Contribution Received (ACL/ABL) (E) (E) Debt (E) Received* Invested Received Drawn* (E) (E) (Annuity+int) Kharar-Ludhiana 100% COD 14,500 6,400 1,600 5
Slide 16: EPC business financial performance
EPC business financial performance Figures in Rs Mn Revenue# EBITDA and EBITDA Margin 18% 47,903 18% 15% 16% 39,363 40,824 40,096 7,306 7,116 7,013 6,309 28,202 11% 3,174 FY19 FY20 FY21 FY22 H1FY23 FY19 FY20 FY21 FY22 H1FY23 PAT and PAT Margin Order Book 10% 10% 9% 7% 4,610 1,37,309 1,49,009 3,871 4
Slide 17: Development Business
ASHGKA DEVELOPMENT BUSINESS
Slide 18: Gross toll collection
Gross toll collection (Rs. Mn) Q2FY23 Q2FY22 Y-o-Y (%) Q1FY23 Q-o-Q (%) ACL Projects Belgaum Dharwad 313.4 250.8 25.0% 339.2 -7.6% Dhankuni - Kharagpur 1116.4 970.5 15.0% 1174.4 -4.9% Bhandara 221.6 201.3 10.1% 222.6 -0.4% Durg 256.7 229.6 11.8% 251.9 1.9% Jaora - Nayagaon 512.3 452.1 13.3% 490.7 4.
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 2022-23 % rise Period 2019-20 2020-21 2021-22 2022-23 % rise April-June 236.8 117.6
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 2022-23 % rise April-June 459.8 225.3 368.3 490.7 33.2% July-Sept 432.4 424.4 452.1 512.3 13.3% Oct-Dec 438.6 448.9 437.2 - - Jan-Mar 423.5 455.1 467
Slide 21: Toll collection: ABL owned projects
Toll collection: ABL owned projects Company Ashoka DSC Katni Bypass Road Ltd. Company Abhijeet Ashoka Infrastructure Pvt. Ltd. Project Katni Road Project Project Wainganga Bridge Period 2019-20 2020-21 2021-22 2022-23 % rise Period 2019-20 2020-21 2021-22 2022-23 % rise April-June 59.9 46.6 57.0 61.
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 vgaura