Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Q1 FY2023 Earnings Presentation
20 slides from Ashoka Buildcon's earnings presentation, Aug 10, 2022
Slide 1: Result Update Presentation cover letter to stock exchanges
ASHOK,1 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, Murnbai —400 001 Bandra (East), Mumbai —40005
Slide 2: Developing Infrastructure for Better Tomorrow - Result Update Presentation Q1FY23
Developing Infrastructure for Better Tomorrow | | | | RESULT UPDATE PRESENTATION | Q1FY23
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: 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 Completion Asset Consideration Ashoka Highways (Bhandara) Ltd.
Slide 5: 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 6: Highlights
Highlights Executed Concession Agreement for Baswantpur to Singondi Project of Rs. 1,079 Crs in May, 2022 ◼ Development of 6 lane Access Controlled Greenfield highway from KM 162.500 to KM 203.100, Baswantpur to Singondi Section of NH 150 C (Package 4 of Akkalkot KNT of IS Border) on Hybrid Annuity
Slide 7: Standalone Profitability Highlights
Standalone Profitability Highlights Rs mn Q1FY23 Q1FY22 Y-o-Y (%) Q4FY22 Q-o-Q (%) Total Income from Operations 14,790 10,114 15,592 Other Income 312 472 635 REVENUE 15,102 10,586 42.7% 16,227 -6.9% Operating Expenses 13344 8,915 14,029 EBITDA 1,758 1,671 5.2% 2,198 -20.0% EBITDA margin 11.6% 15.8%
Slide 8: Consolidated Profitability Highlights
Consolidated Profitability Highlights Rs mn Q1FY23 Q1FY22 Y-o-Y (%) Q4FY22 Q-o-Q (%) Total Income from Operations 18,786 12,832 19,573 Other Income 374 270 997 REVENUE 19,159 13,101 46.2% 20,570 -6.9% Operating Expenses 13,946 8,863 14,244 EBITDA 5,213 4,238 23.0% 6,326 -17.6% EBITDA margin 27.2% 32
Slide 9: Debt Profile as of June 2022
Debt Profile as of June 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 71,272 64,655 68,221 66,998 6,488 4,862 8,620 3,834 2,183 1,618 1,362 264 60,821 61,733 62,137 62,6
Slide 10: EPC Business Highlights
ASHGOKA EPC BUSINESS HIGHLIGHTS
Slide 11: Current EPC order backlog of Rs. 147.8 bn
Current EPC order backlog of Rs. 147.8 bn Order backlog of Rs. 153.5 bn as on 30th June 2022 Segment Rs. Mn Segment Rs. Mn Roads 89,289 Others EPC Projects HAM 30,625 Power T&D 23,555 Tumkur-Shivamoga IV, Karnataka 9,395 Rajasthan 4,925 Tumkur - Shivamoga II, Karnataka 2,495 Jammu & Kashmir 3,854 Tu
Slide 12: Order Book- Break-up
Order Book- Break-up Figures in Rs Mn EPC Road HAM, 1,47,799 Buildings , 20.7% 1,37,309 15.6% 1,22,518 CGD, 0.30% 1,18,832 Railways, 7.7% 94,723 Power T&D & Others, 15.9% Jun'21 Sep'21 Dec'21 Mar'22 Jun-22 Road EPC, 39.7% * Excludes orders worth Rs. 5,752 Mn received post June’ 22 11
Slide 13: HAM Project Portfolio - Status
HAM Project Portfolio - Status Figures in Rs Mn Estimated Annuity % Stake PIM Estimated Equity TPC Grant Grant PIM Total Debt Received Projects Status Equity Contributio (ACL/ABL) (E) (E) Debt (E) Received* Invested Received Drawn* (Annuity+in (E) n (E) t) Kharar-Ludhiana 100% COD(P) 14,500 6,400 1,
Slide 14: 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 12% 15,103 1,758 FY19 FY20 FY21 FY22 Q1FY23 FY19 FY20 FY21 FY22 Q1FY23 PAT and PAT Margin Order Book 10% 10% 9% 7% 4,610 1,37,309 1,47,799 3,871 4
Slide 15: Development Business
ASHGOKA DEVELOPMENT BUSINESS
Slide 16: Gross toll collection
Gross toll collection (Rs. Mn) Q1FY23 Q1FY22 Y-o-Y (%) Q4FY22 Q-o-Q (%) ACL Projects Belgaum Dharwad 339.2 189.5 79.0% 304.7 11.3% Dhankuni - Kharagpur 1174.4 849.1 38.3% 1073.1 9.4% Bhandara 222.6 168.0 32.5% 222.8 -0.1% Durg 251.9 192.5 30.8% 255.2 -1.3% Jaora - Nayagaon 490.7 368.3 33.2% 467.4 5.
Slide 17: 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 18: 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 - - Oct-Dec 438.6 448.9 437.2 - - Jan-Mar 423.5 455.1 467.4 - - 1
Slide 19: 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 20: 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