Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Q3 FY23 Earnings Presentation
22 slides from Ashoka Buildcon's earnings presentation, Feb 11, 2023
Slide 1: Exchange filing 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 Q3 FY23
Developing Infrastructure for Better Tomorrow | | | | RESULT UPDATE PRESENTATION | Q3 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 – Q3FY23 (1/3)
Key Highlights – Q3FY23 (1/3) Sale of equity stake in JNTCL in December, 2022 ◼ Subsidiaries of the Company, Ashoka Concessions Limited (ACL) and Viva Highways Limited, (VHL) have entered into a SPA with National Investment and Infrastructure Fund Limited and JNTCL. ◼ The total value of the equity i
Slide 5: Key Highlights – Q3FY23 (2/3)
Key Highlights – Q3FY23 (2/3) Receipt of Provisional Certificate CoD for HAM Project (Tumkur – Shivamogga) in November, 2022 ◼ Declared ‘October 26, 2021’ as the CoD for its HAM Project of NHAI viz. Construction of Four Laning of Tumkur – Shivamogga, from Mallasandra to Karadi Village on HAM. ◼ Elig
Slide 6: Key Highlights – Q3FY23 (3/3)
Key Highlights – Q3FY23 (3/3) Award for Projects of Rs.754.57 Crs. for Madhya Pradesh PoorvKshetra Vidyut Vitaran Company Ltd. in December, 2022 ◼ Supply, Installation, Testing and Commissioning of New 11 KV Lines, LT Line on AB cable, Distribution Transformer Substation and Supporting works in Bala
Slide 7: 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) Equity Sale Agreement with KKR City Gas Distribution (CGD) 51% entity for aggregate consideration of BOT Projects Pa
Slide 8: Sale of equity in BOT Projects
Sale of equity in BOT Projects Sale of entire share capital to Galaxy Sale of 100% equity through Executed Sale of equity through SPA with Investments II Pte. Ltd. SPA with National Investment and National Investment and Infrastructure (KKR-owned entity) Infrastructure Fund Ltd. (NIIF) Fund Ltd. (NI
Slide 9: Standalone Profitability Highlights
Standalone Profitability Highlights Rs Crs. Q3FY23 Q3FY22 Y-o-Y (%) Q2FY23 Q-o-Q (%) 9MFY23 9MFY22 Y-o-Y (%) Total Income from Operations 1,560 1,104 1,280 4,319 3,032 Other Income 30 29 30 91 135 REVENUE 1,590 1,133 40.4% 1,310 21.4% 4,410 3,168 39.2% Operating Expenses 1442 983 1168 3,945 2,686 EB
Slide 10: Consolidated Profitability Highlights
Consolidated Profitability Highlights Rs Crs. Q3FY23 Q3FY22 Y-o-Y (%) Q2FY23 Q-o-Q (%) 9MFY23 9MFY22 Y-o-Y (%) Total Income from Operations 1,956 1,441 1,808 5,642 3,989 Other Income 40 35 37 115 102 REVENUE 1,996 1,475 35.3% 1,845 8.2% 5,757 4,090 40.8% Operating Expenses 1,466 1,042 1,378 4,239 2,
Slide 11: Debt Profile as of December 2022
Debt Profile as of December 2022 Consolidated Debt (Rs. Crs) Cash & Bank Balance Break up (Rs. Crs) Project Debt incl. ACL NCD Standalone Debt Consolidated Cash & Bank Balance Standalone Cash & Bank Balance 6,700 7,127 7,080 6,988 486 862 869 846 270 218 162 216 6,214 6,265 6,211 6,142 829 865 730 7
Slide 12: EPC Business Highlights
ASHGOKA EPC BUSINESS HIGHLIGHTS
Slide 13: Current EPC order backlog of Rs. 192 Bn
Current EPC order backlog of Rs. 192 Bn (Rs 161 Bn as of Dec’22) Segment Rs. Crs Segment Rs. Crs Roads 8,855 Others EPC Projects 7,285 HAM 2,363 Power T&D 2,820 Rajasthan 408 Tumkur-Shivamoga IV, Karnataka 794 Jammu & Kashmir 328 Tumkur - Shivamoga II, Karnataka 203 Uttar Pradesh 27 Tumkur-Shivamoga
Slide 14: Order Book- Break-up
Order Book- Break-up Figures in Rs Crs EPC Road HAM, Buildings , 14.6% 16,140 18.6% 14,780 14,901 CGD, 0.20% 13,731 Railways, 8.9% 12,252 Road EPC, Power T&D 40.2% & Others, Dec'21 Mar'22 Jun-22 Sep'22 Dec-22 17.5% 13
Slide 15: HAM Project Portfolio - Status
HAM Project Portfolio - Status Figures in Rs Crs 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 1,450 640 160 50 60
Slide 16: EPC business financial performance
EPC business financial performance Figures in Rs Crs Revenue# EBITDA and EBITDA Margin 18% 4,790 18% 15% 4,410 16% 3,936 4,082 4,010 731 712 701 11% 631 465 FY19 FY20 FY21 FY22 9MFY23 FY19 FY20 FY21 FY22 9MFY23 PAT and PAT Margin Order Book 10% 10% 9% 16,140 7% 461* 13,731 387 408 5% 286 8,394 8,379
Slide 17: Development Business
ASHGOKA DEVELOPMENT BUSINESS
Slide 18: Gross toll collection
Gross toll collection (Rs. Crs) Q3FY23 Q3FY22 Y-o-Y (%) Q2FY23 Q-o-Q (%) ACL Projects Belgaum Dharwad 34.0 29.8 13.8% 31.3 8.4% Dhankuni - Kharagpur 115.8 104.3 11.0% 111.6 3.7% Bhandara 25.6 20.9 22.1% 22.2 15.3% Durg 29.4 23.9 23.2% 25.7 14.5% Jaora - Nayagaon 52.4 43.7 19.9% 51.2 2.4% Sambalpur 2
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 23.7 11.8 1
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 46.0 22.5 36.8 49.1 33.2% July-Sept 43.2 42.4 45.2 51.2 13.3% Oct-Dec 43.9 44.9 43.7 52.4 19.9% Jan-Mar 42.4 144.4 159.9 -
Slide 21: Toll collection: ABL owned projects
Toll collection: ABL owned projects Company Abhijeet Ashoka Infrastructure Pvt. Ltd. Project Wainganga Bridge Period 2019-20 2020-21 2021-22 2022-23 % rise April-June 7.7 4.9 7.5 9.6 27.6% July-Sept 7.2 7.9 9.0 9.0 0.3% Oct-Dec 7.4 9.3 8.9 9.5 6.5% Jan-Mar 7.5 9.6 9.4 - - 29.8 31.7 34.9 28.1 - Figur
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