Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Q3 FY24 Earnings Presentation
35 slides from Ashoka Buildcon's earnings presentation, Feb 7, 2024
Slide 1: Result Update Presentation cover letter to exchanges
Ashoka Buildcon Limited To, To, The Manager, The Manager, The Department of Corporate Services The Listing Department Bombay Stock Exchange Limited National Stock Exchange of India Limited Floor 25, P. J. Towers, Exchange Plaza, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mum
Slide 2: Investor Presentation February 2024
Investor Presentation February 2024
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: Q3 FY24 Business Highlights
ASHOKA Ashoka Buildcon Ltd. Q3 FY24 Business Highlights
Slide 5: Q3 FY24 Business Highlights
Q3 FY24 Business Highlights Receipt of Certificate of CoD for HAM Project of NHAI in October 2023 for Four Laning Tumkur Shivamogga section in Karnataka (Package III) The Project is executed by Ashoka Banwara Bettadahalli Road Private Limited (SPV) The SPV is eligible for receipt of Annuity payments
Slide 6: Q3 FY24 Business Highlights
Q3 FY24 Business Highlights Receipt of Letter of Award from CIDCO in January 2024 Company has received Letter of Acceptance (LoA) from City & Industrial Development Corporation of Maharashtra Limited (CIDCO) for Design and construction of Stilt Bridge for Eastern Connectivity for Navi Mumbai Interna
Slide 7: Q3 & 9M FY24 Financial Performance Highlights
Q3 & 9M FY24 Financial Performance Highlights
Slide 8: Q3 & 9M FY24 Standalone Financial Performance Highlights
Q3 & 9M FY24 Standalone Financial Performance Highlights Total Revenue (Rs Crs.) EBITDA (Rs Crs.) EBITDA Margin % PAT (Rs Crs.) +36% +39% +7% Q3 nFY24 2,162 205 9.3% 9.5% 71 67 1,590 147 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 Q3 FY23 Q3 FY24 +20% +2% -26% 5,309 465 473 10.5% 237 4,410 8.9%
Slide 9: 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 6,988 6,895 6,978 7,200 6,920 865 846 876 988 1,118 1,103 526 442 393 426 6,142 6,019 5,990 6,082 5,818 270 282
Slide 10: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (Rs. Crs.) Q3 FY24 Q3 FY23 Y-o-Y Q2 FY24 Q-o-Q 9M FY24 9M FY23 Y-o-Y Revenue from Operations 2,133.5 1,559.1 37% 1,561.3 37% 5,226.8 4,328.8 21% Other Income 28.5 30.9 28.4 82.2 81.3 Total Revenue 2,162.0 1,590.0 36% 1,589.7 36% 5,309.0 4,410.1 20% Oper
Slide 11: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Crs.) Q3 FY24 Q3 FY23 Y-o-Y Q2 FY24 Q-o-Q 9M FY24 9M FY23 Y-o-Y Revenue from Operations 2,657.1 1,955.8 36% 2,154.3 23% 6,746.6 5,642.5 20% Other Income 41.8 40.6 41.0 120.8 114.7 Total Revenue 2,698.9 1,996.4 35% 2,195.3 23% 6,867.4 5,757.2 19%
Slide 12: Company Overview
ASHOKA Ashoka Buildcon Ltd. Company Overview
Slide 13: Ashoka Buildcon – Legacy of Excellence
Ashoka Buildcon – Legacy of Excellence 45+ YEARS of INR 14,000+ Crs. 10,000+ members experience in Current Order Book** in Ashoka Family construction industry 14,000 LANE Kms. 30,000 Villages of highway constructed illuminated through Power T&D projects CRISIL RATINGS 5 Year CAGR AA-/STABLE Long Ter
Slide 14: 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) Mudhol Nipani (BOT Ann
Slide 15: Sale of Equity in subsidiary Unison Enviro Private Limited to Mahanagar Gas Ltd.
Sale of Equity in subsidiary Unison Enviro Private Limited to Mahanagar Gas Ltd. in Feb’24 Ashoka Buildcon Limited adds another success story in its portfolio as its subsidiary UEPL undergoes successful acquisition by Mahanagar Gas Limited ✓ Ashoka Buildcon Limited had started UEPL in the year 2015
Slide 16: Sale of Equity in Multiple Projects
Sale of Equity in Multiple Projects Sale of 100% Equity through Executed SPA with Sale of Equity through SPA with National National Investment and Infrastructure Fund Investment and Infrastructure Fund Ltd. (NIIF) Ltd. (NIIF) Chennai ORR Project (BOT Annuity) Jaora-Nayagaon Road Project Rs. 686 Cror
Slide 17: Strong Order Book
Strong Order Book Segment Breakup Region Breakup Client Breakup 0.2% 9.8% 5.4% 9.8% 3.6% North 8.0% 29.1% Road EPC 34.0% South 12.5% 27.1% 42.3% Road HAM East Central Govt 9.7% Building EPC* West State Govt Railways Central HAM Power T&D 9.0% North East 8.9% Private Client 32.6% CGD 8.8% 5.7% Overse
Slide 18: Current Order Backlog
Current Order Backlog Segment Rs. Crs. Segment Rs. Crs. Roads 5,663 Other EPC Projects 7,504 Tumkur-Shivamoga IV, Karnataka 493 Rajasthan 50 Baswantpur to Singnodi 231 Jammu & Kashmir 112 Tumkur-Shivamoga III, Karnataka 121 Uttar Pradesh 508 Tumkur - Shivamoga II, Karnataka 70 Madhya Pradesh 682 HAM
Slide 19: HAM Project Portfolio
HAM Project Portfolio All figures in Rs Crs. As per Financial Closure As per Actuals PIM No. of Projects % Stake Estimated Estimated Grant Equity PIM Total Debt Status TPC Est. Grant Est. Contribution Annuity (As on 31 st Dec 2023) (ACL/ABL) Equity Debt Received Invested Received Drawn Est. Received
Slide 20: BOT Project Portfolio
BOT Project Portfolio All figures in Rs Crs. Projects (Rs. Crs.) Concession Contract Ending Debt as on % Stake State / Client Lane / Lanes Kms Type Signing Date Grant/ Premium (As on 31st Dec 2023) Period Date 31st Dec 2023 ACL Projects Premium of Rs. Rs. 31 Cr BOT (Toll), Belgaum Dharwad 100% KN /
Slide 21: Gross Toll Collection
Gross Toll Collection Projects (Rs. Crs.) Q3 FY24 Q3 FY23 Y-o-Y 9M FY24 9M FY23 Y-o-Y ACL Projects Belgaum Dharwad 35.5 34.0 4.5% 103.4 99.2 4.2% Dhankuni Karagpur 130.0 115.8 12.2% 378.7 344.9 9.8% Bhandara 30.0 25.6 17.3% 84.2 70.0 20.3% Durg 35.1 29.4 19.3% 98.0 80.3 22.1% Jaora – Nayagaon 54.4 5
Slide 22: 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 23: Experienced Board of Directors
Experienced 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. Mahendra Mehta Ms. Shilpa Hiran Mr. Gyan Chand Daga Abhyankar Independent Director Indepe
Slide 24: Current Signature Project - Mopa Airport Link Road, Goa
Current Signature Project - Mopa Airport Link Road, Goa MOPA AIRPORT LINK ROAD – GOA Project Length : 6.58 km with elevated portion of 4.4 km • A new airport for Goa has been built near village Mopa. At present the connectivity to the airport is through existing village road. However, being an inter
Slide 25: Signature Projects showcasing Project Execution Capabilities
Signature Projects showcasing Project Execution Capabilities India’s First 8 Lane Extra Dosed Cable Stayed Bridge Built in 33 Months • Despite flood situations in 2 consecutive years and the pandemic, team Ashoka completed this prestigious 8 lanes bridge across Narmada river in Gujarat in Record tim
Slide 26: Marquee Clients
Marquee Clients ….and many more 25 Developing Infrastructure for Better Tomorrow
Slide 27: Awards & Recognition
Awards & Recognition Construction Times Awards 2023 Best Executed Bridge Project Award Achievement of Safety Health and Environment (Panagrah Palashit Road Project) CIA Construction & Infrastructure Awards Best Company in Bridges for Excellence in Construction of Superstructures Safe-Tech Award Most
Slide 28: Historical Financial Details
Historical Financial Details
Slide 29: 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 30: 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 31: 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 32: 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 33: Toll Collection
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 32.7 4.4% Ashoka Belgaum Belgaum Dharwad Q3 23.4 27.7 29.8 34.0 35.5 4.5% 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
Slide 34: Toll Collection
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 56.3 10.0% Jaora - Nayagaon Toll Jaora – Nayagaon Q3 43.9 44.9 43.7 52.4 54.4 3.7% Road Company Pvt Ltd. Road Project Q4 42.4 45.5 46.7 54.3 175.4 155.4 172.5
Slide 35: 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