Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Q4 FY2019 Earnings Presentation
22 slides from Ashoka Buildcon's earnings presentation, May 23, 2019
Slide 1: Cover letter to BSE and NSE
ASHOM 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 Kuria Complex, Dalai Street, Mumbai — 400 001 Bandra (East), Mumbai — 400 05
Slide 2: Result Update Presentation Q4FY19
Developing Infrastructure for Better Developing Infrastructure for Better Tomorrow Tomorrow RR ESULTUU ESULT PDATE PDATE PRESENTATION| |Q4FY19 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) Letter of Award worth Rs 13,820 Mn from NHAI for Road project under Bharatmala in Karnataka under Hybrid Annuity Mode 39,363 Project entails laning of Tumkur — Shivamogga Section from Km 170.415 to Km 226.750 from 25,461 Bettadahalli Shivamogga (Package IV) on Hybr
Slide 5: Key Developments
Key Developments Letter of Award from Rail Vikas Nigam Limited for project worth Rs 4,432 Mn in Punjab Project is in Joint Venture with Stroytech Services LLC, wherein Ashoka Buildcon Limited is a Lead Member Scope of work: Construction of Roadbed, minor bridges, supply of ballast, installation
Slide 6: Standalone Profitability Highlights (as per IND-AS)
Standalone Profitability Highlights (as per IND-AS) Rs mn Q4 FY19 Q4FY18 Y-o-Y(%) Q3FY19 Q-o-Q(%) FY19 FY18 Y-o-Y(%) Total Income from Operations 13,074 7,023 10,651 38,206 24,483 Other Income 380 612 254 1,157 978 REVENUE 13,454 7,635 76.2% 10,905 23.4% 39,363 25,461 54.6% Operating Expenses 11,259
Slide 7: Standalone Balance Sheet (as per IND-AS)
Standalone Balance Sheet (as per IND-AS) Rs mn Mar-19 Mar-18 Rs mn Mar-19 Mar-18 Shareholder’s Fund 22,120 19,263 Non-current assets 29,665 21,162 Share capital 1,404 936 Fixed assets 3,855 2,324 Reserves & Surplus 20,71 18,327 Other Non-current assets 25,810 18,838 Non-current liabilities 7,770 3,2
Slide 8: 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 9: Consolidated Balance Sheet (as per IND-AS)
Consolidated Balance Sheet (as per IND-AS) Rs mn Mar-19 Mar-18 Rs mn Mar-19 Mar-18 Shareholder’s Fund 2,869 3,159 Non-current assets 96,849 91,686 Share capital 1,404 936 Fixed assets 79,319 79,212 Reserves & Surplus 1,465 2,223 Other Non-current assets 17,531 12,474 1,189 937 Non-current liabilitie
Slide 10: Debt Profile as of March 2019
Debt Profile as of March 2019 Consolidated Debt (Rs. Mn) 54,792 56,790 Dec 2018' Mar 2019' Consolidated Debt beak-up (Rs. Mn) Standalone Debt beak-up (Rs. Mn) Standalone debt 7,199 - Equipment loan 2,445 - Working capital 3,254 Project debt 49,591 - NCDs 1,500 Total 56,790 Total 7,199 9
Slide 11: EPC Business Highlights
ASHOKA EPC BUSINESS HIGHLIGHTS
Slide 12: EPC order backlog, 2.2x FY19 Revenue
EPC order backlog, 2.2x FY19 Revenue Order backlog of Rs 84 bn as on 31st March, 2019 Segment Rs. Mn Segment Rs. Mn Roads 67,440 Others 16,500 BOT 46,200 HAM: Khrar - Ludhiana, Punjab 5,130 Power T&D 9,139 HAM: Anandpuram 5,274 Maharashtra 139 HAM: Vadodara Kim, Gujarat 8,173 Bihar 4,631 HAM: Tumkur
Slide 13: Order Book Break-up (As on March 31, 2019)
Order Book- Break-up (As on March 31, 2019 Robust Order Book Order Book Break-up (%) 0.2% 83,940* 8.6% 10.9% 58,487 55.0% 25.3% Mar'18 Mar'19 Road BOT Road EPC Power T&D EPC Railways CGD * Excludes Rs.1,264 Cr of LOI received for RVNL Punjab and HAM for Tumkur IV package 12
Slide 14: EPC business financial performance
EPC business financial performance Figures in Rs Mn Revenue# EBITDA and EBITDA Margin 14% 17% 15% 15% 16% 39,363 6,309 25,461 19,037 19,667 20,852 3,912 3,383 3,146 2,638 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 PAT and PAT Margin Order Book 8% 5% 8% 9% 7% 83,940 70,047 2,862 58,487 2,370 1
Slide 15: Development Business
ASHOKA DEVELOPMENT BUSINESS
Slide 16: Gross toll collection
Gross toll collection (Rs. Mn) Q4 FY 19 Q4 FY 18 Y-o-Y (%) Q3 FY 19 Q-o-Q (%) ACL BOT Projects Belgaum Dharwad 234.6 224.3 4.6% 233.1 0.7% Dhankuni - Kharagpur 883.8 849.4 4.0% 866.8 2.0% Bhandara 177.8 174.1 2.1% 168.3 5.6% Durg 206.8 207.2 -0.2% 199.3 3.8% Jaora - Nayagaon 489.7 523.1 -6.4% 497.4
Slide 17: Annual Gross toll collection
Annual Gross toll collection (Rs. Mn) FY19 FY18 FY17 ACL Projects Belgaum Dharwad 915 878 699 Dhankuni – Kharagpur 3,510 3,176 2,557 Bhandara 682 648 570 Durg 801 785 700 Jaora – Nayagaon 2,020 2,029 1,638 Sambalpur 725 633 477 Sub-total 8,652 8,149 6,642 ABL Owned Projects Ahmednagar – Aurangabad 3
Slide 18: Adjusted Annual Gross toll collection
Adjusted Annual Gross toll collection (Rs. Mn) FY19 FY18 % Change FY17 * ACL Projects Belgaum Dharwad 915 878 4.2% 746 Dhankuni – Kharagpur 3,510 3,176 10.5% 2,729 Bhandara 682 648 5.1% 608 Durg 801 785 2.0% 747 Jaora – Nayagaon 2,020 2,029 -0.5% 1,748 Sambalpur 725 633 14.6% 509 Sub-total 8,652 8,1
Slide 19: 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 2016-17 2017-18 2018-19 % rise Period 2016-17 2017-18 2018-19 % ri
Slide 20: Toll collection: ACL projects
Toll collection: ACL projects Company Jaora - Nayagaon Toll Road Company Pvt Ltd. Rs. Million Project Jaora – Nayagaon Road Project Period 2016-17 2017-18 2018-19 % rise April-June 407.1 473.5 516.4 9.1% July-Sept 425.2 502.6 516.4 2.7% Oct-Dec 339.1 529.9 497.4 -6.1% Jan-Mar 466.7 523.1 489.7 -6.4%
Slide 21: 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 2016-17 2017-18 2018-19 % rise 2016-17 2017-18 2018-19 % rise April-June 62.8 64.4 93.7 45.5% 54.5 55.4 58.1 4.9% July-Se
Slide 22: 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 / Mr. Vikash Verma paresh.mehta@ashokabuildcon.com vgaurang@stellar-ir.com / vikash.verma@stellar-ir.com CIN : L45200MH1993PLC071970