Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Q1 FY24 Earnings Presentation
33 slides from Ashoka Buildcon's earnings presentation, Aug 10, 2023
Slide 1: Exchange filing cover 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 Scri
Slide 2: Investor Presentation August 2023
Investor Presentation August 2023
Slide 3: Safe Harbor
Safe Harbor This presentation has been prepared by and is the sole responsibility of Ashoka Buildcon Limited (the “Company”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or in
Slide 4: Q1FY24 Business Highlights
ASHOKA Ashoka Buildcon Ltd. Q1FY24 Business Highlights
Slide 5: Q1FY24 Business Highlights
Q1FY24 Business Highlights Receipt of Letter of Award from MSEDCL in April 2023 Company has received Letters of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for Development of Distribution Infrastructure at Seven Circles in the state of Maharashtra The total c
Slide 6: Q1FY24 Financial Performance Highlights
Q1FY24 Financial Performance Highlights
Slide 7: Q1 FY24 Standalone Financial Performance Highlights
Q1 FY24 Standalone Financial Performance Highlights Revenue (Rs Crs.) EBITDA (Rs Crs.) EBITDA Margin % PAT (Rs Crs.) +3% -46% -550 bps -84% 1,510 1,557 176 11.6% 104 95 ^ 6.1% 16 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 Q1 FY23 Q1 FY24 ^ EBITDA includes one-time provision related to execution
Slide 8: Debt Profile
Debt Profile Consolidated Debt (Rs. Crs.) Cash & Bank Balance Break up (Rs. Crs.) Standalone Debt Project Debt Incl ACL Debt Standalone Cash & Bank Balance Consolidated Cash & Bank Balance 7,127 7,080 6,988 6,895 6,978 829 865 862 869 846 876 988 735 526 442 6,265 6,211 6,142 6,019 5,990 218 216 270
Slide 9: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (Rs. Crs.) Q1 FY24 Q1 FY23 Y-o-Y Q4 FY23 Q-o-Q Revenue from Operations 1,532.1 1,479.9 4% 2,043.5 -25% Other Income 25.3 30.4 24.4 Total Revenue 1,557.3 1,510.3 3% 2,067.9 -25% Operating Expenses 1,336.1 1,262.0 1,804.2 Employee Cost 55.5 42.6 47.0 Othe
Slide 10: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Crs.) Q1 FY24 Q1 FY23 Y-o-Y Q4 FY23 Q-o-Q Revenue from Operations 1,935.2 1,879.4 3% 2,448.4 -21% Other Income 38.0 36.6 29.5 Total Revenue 1,973.1 1,915.9 3% 2,478.0 -20% Operating Expenses 1,267.0 1,266.8 1,734.9 Employee Cost 103.9 90.1 95.8 O
Slide 11: Company Overview
ASHOKA Ashoka Buildcon Ltd. Company Overview
Slide 12: Ashoka Buildcon – Legacy of Excellence
Ashoka Buildcon – Legacy of Excellence 45+ YEARS of INR 16,900+ Crs. 10,000+ members experience in Order Book as on in Ashoka Family construction industry 30st June 2023 14,000 LANE Kms. 30,000 Villages of highway constructed illuminated through Power T&D projects CRISIL RATINGS 5 Year CAGR AA-/STAB
Slide 13: ABL - Business Structure
ABL - Business Structure Ashoka Buildcon Limited Ashoka Concession Limited (ACL) Unison Enviro Private Limited (UEPL) (ABL owning 66% Stake, Balance with SBI Macquarie) (ABL owning 51% Stake, balance stake with ABL Own Projects % Stake HAM Projects % Stake Morgan Stanley Fund) Katni Bypass 99.9% Kha
Slide 14: Sale of Equity in Multiple Projects
Sale of Equity in Multiple Projects Sale of 100% Equity through Executed SPA with Sale of Equity in subsidiary Unison Enviro Sale of Equity through SPA with National National Investment and Infrastructure Fund Private Limited (UEPL) with Mahanagar Gas Investment and Infrastructure Fund Ltd. (NIIF) L
Slide 15: Strong Order Book
Strong Order Book Segment Breakup Region Breakup Client Breakup 0.1% 5.8% 17.1% 17.1% North 34.3% 30.8% Road EPC 35.8% South 4.1% 24.5% 9.2% Road HAM East Central Govt Building EPC West 12.7% State Govt 8.6% Railways Central HAM 9.3% Power T&D 8.3% 8.6% North East Private Client CGD 12.9% Overseas 2
Slide 16: Current Order Backlog
Current Order Backlog Segment Rs. Crs. Segment Rs. Crs. Roads 7,257 Other EPC Projects 9,663 Tumkur-Shivamoga IV, Karnataka 586 Rajasthan 394 Baswantpur to Singnodi 469 Jammu & Kashmir 206 Tumkur-Shivamoga III, Karnataka 169 Uttar Pradesh 684 Tumkur - Shivamoga II, Karnataka 116 Madhya Pradesh 814 H
Slide 17: HAM Project Portfolio
HAM Project Portfolio PIM No. of Projects % Stake Estimated Estimated Grant Equity PIM Total Debt Status TPC Est. Grant Est. Contribution Annuity (As on 30th June 2023) (ACL/ABL) Equity Debt Received Invested Received Drawn Est. Received Kharar-Ludhiana 100% COD 1,450 640 160 50 600 602 157 69 568 6
Slide 18: BOT Project Portfolio
BOT Project Portfolio Projects (Rs. Crs.) Concession Contract Ending Debt as on % Stake State / Client Lane / Lanes Kms Type Signing Date Grant/ Premium (As on 30th June 2023) Period Date 30th June 2023 ACL Projects Premium of Rs. 31 Cr from BOT (Toll), Belgaum Dharwad 100% KN / NHAI 6 / 454.05 29-J
Slide 19: Gross Toll Collection
Gross Toll Collection Projects (Rs. Crs.) Q1 FY24 Q1 FY23 Y-o-Y Q4 FY23 Q-o-Q ACL Projects Belgaum Dharwad 35.2 33.9 3.8% 35.8 -1.6% Dhankuni Karagpur 126.7 117.4 7.9% 121.9 3.9% Bhandara 27.6 22.3 24.2% 27.9 -1.0% Durg 31.6 25.2 25.5% 32.2 -1.8% Jaora – Nayagaon 57.5 49.1 17.2% 54.3 5.8% Sambhalpur
Slide 20: Top Executive Management
Top Executive Management Mr. Ashok Katariya Mr. Satish Parakh Mr. Sanjay Londhe Mr. Ashish A. Kataria Mr. Paresh Mehta Chairman Managing Director Whole Time Director Whole Time Director Chief Financial Officer • In 1976, Mr. Katariya laid the • Mr. Parakh’s association • Mr. Londhe heads the • Mr. A
Slide 21: Strong Board of Directors
Strong Board of Directors Mr. Ashok Katariya Mr. Satish Parakh Mr. Sanjay Londhe Mr. Ashish Kataria Chairman Managing Director Whole Time Director Whole Time Director Mr. Sharadchandra Mr. Albert Tauro Mr. Gyan Chand Daga Mr. Mahendra Mehta Ms. Shilpa Hiran Abhyankar Independent Director Independent
Slide 22: Signature Projects showcasing Project Execution Capabilities (1/3)
Signature Projects showcasing Project Execution Capabilities (1/3) Eastern Peripheral Expressway completed in 482 India’s First 8 Lane Extra Dosed Cable Stayed working days Bridge Built in 33 Months • The prestigious Eastern Peripheral Expressway (EPE) was launched by the • Despite flood situations
Slide 23: Signature Projects showcasing Project Execution Capabilities (2/3)
Signature Projects showcasing Project Execution Capabilities (2/3) Bridge (1) On River Rupnarayan Bridge (2) On River Rupnarayan • The Company built this bridge an nontraditional method, that of launching a • Despite the fact that the time allotted to complete the two bridges was 30 323 mts. long, 1
Slide 24: Signature Projects showcasing Project Execution Capabilities (3/3)
Signature Projects showcasing Project Execution Capabilities (3/3) A Bridge in 38 Days Railway Over Bridge in 100 Working Days • In the year 1999, Ashoka created a stir in bridge construction industry with • One can judge the importance of this achievement by considering the fact the construction of
Slide 25: Marquee Clients
Marquee Clients ….and many more 24 Developing Infrastructure for Better Tomorrow
Slide 26: Historical Financial Details
Historical Financial Details
Slide 27: Profit & Loss Statement
Profit & Loss Statement Standalone Consolidated Particulars (Rs. Crs.) FY23 FY22 Y-o-Y FY23 FY22 Y-o-Y Revenue from Operations 6,372.3 4,644.6 37% 8,100.5 5,999.0 35% Other Income 105.7 145.7 134.6 148.2 Total Revenue 6,478.0 4,790.3 35% 8,235.1 6,147.2 34% Operating Expenses 5,524.7 3,801.1 5,561.4
Slide 28: Standalone Balance Sheet
Standalone Balance Sheet Assets (Rs. Crs.) Mar’23 Mar’22 Equity & Liabilities (Rs. Crs.) Mar’23 Mar’22 Non - Current Assets 2,048.6 1,598.9 Total Equity 3,369.7 2,698.7 Property Plant & Equipments 273.2 262.2 Share Capital 140.4 140.4 Capital Work In Progress 28.5 1.8 Other Equity 3,229.4 2,558.4 In
Slide 29: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs.) Mar’23 Mar’22 Equity & Liabilities (Rs. Crs.) Mar’23 Mar’22 Non - Current Assets 1,293.8 4,101.5 Total Equity 1,974.8 1,599.9 Property Plant & Equipments 286.8 406.9 Share Capital 140.4 140.4 Capital Work In Progress 62.3 72.6 Other Equity 1,614.2 1,240.5
Slide 30: Cashflow Statement
Cashflow Statement Standalone Consolidated Particulars (Rs. Crs.) Mar’23 Mar’22 Mar’23 Mar’22 Profit Before Exceptional Items & Tax 773.3 -223.6 588.2 932.2 Adjustments for: Non-Cash / Other Items -247.9 769.9 1,378.4 861.5 Operating profit before working capital changes 525.4 546.3 1,966.6 1,793.7
Slide 31: Toll Collection ACL Projects
Toll Collection ACL Projects Company Project Period FY20 FY21 FY22 FY23 FY24 % Rise Q1 23.7 11.8 18.9 33.9 35.2 3.8% Q2 21.3 20.1 25.1 31.3 Ashoka Belgaum Belgaum Dharwad Q3 23.4 27.7 29.8 34.0 Dharwad Tollway Ltd. Project Q4 22.6 29.3 30.5 35.8 91.0 88.9 104.3 135.0 Q1 90.5 53.6 84.9 117.4 126.7 7.
Slide 32: Toll Collection ACL Projects and ABL Projects
Toll Collection ACL Projects Company Project Period FY20 FY21 FY22 FY23 FY24 % Rise Q1 46.0 22.5 36.8 49.1 57.5 17.2% Q2 43.2 42.4 45.2 51.2 Jaora - Nayagaon Toll Jaora – Nayagaon Q3 43.9 44.9 43.7 52.4 Road Company Pvt Ltd. Road Project Q4 42.4 45.5 46.7 54.3 175.4 155.4 172.5 207.1 Q1 17.1 10.7 17
Slide 33: Thank You
THANK YOU Company: Ashoka Buildcon Limited Investor Relations: Strategic Growth Advisors (SGA) CIN: L45200MH1993PLC071970 CIN: U74140MH2010PTC204285 Mr. Paresh Mehta (CFO) Mr. Jigar Kavaiya / Mr. Harsh Shah paresh.mehta@ashokabuildcon.com Jigar.kavaiya@sgapl.net / harsh.shah@sgapl.net Tel: 0253 - 66