Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Investor Presentation (February 2017)
27 slides from Ashoka Buildcon's investor presentation, February 2017
Slide 1: Investor Presentation
Investor Presentation February 2017
Slide 2: 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 3: Agenda
Agenda 01 Company Overview 02 Construction Business 03 Development Business 04 Financial Highlights
Slide 4: Company Overview
Company Overview 4
Slide 5: Company overview
Company overview Snapshot Current Order book (As on December 31st 2016) § Ashoka Buildcon (ABL) is engaged in 2 business segments: § Engineering Procurement and Construction (EPC) business for Roads and Power Distribution projects Power T&D, Roads, § Development of roads & highways on Build, Operate
Slide 6: Journey till date
Journey till date 2012 Evolved into a Leading National Highway Onwards Developer Ventured into NHAI BOT projects; won first NHAI project, Bhandara in 2006 Well Established & Integrated IDFC managed funds invested in ABL and Infrastructure Player two National Highway projects of ABL Up the value chai
Slide 7: Business structure
Business structure Ashoka Buildcon Limited (ABL) EPC Business Development Business No. of Projects No. of Projects Lane As on Sep’16 Toll Annuity NHAI State Kms Own BOT Projects Roads Power Distribution1 Operational 6 - 1 5 665 Under construction - 3 - 3 458 Total 6 3 1 8 1,124 ACL Projects2 Operati
Slide 8: Management team
Management team Ashok Katariya Satish Parakh Sanjay Londhe Ashish Katariya Paresh Mehta Chairman Managing Director CEO (Projects) MD of ACL CFO ü Responsible for the ü Responsible for the ü Heads Execution of ü Heads Ashoka ü Heads Finance, strategic direction of overall management Highway Projects
Slide 9: Construction Business
Construction Business 9
Slide 10: EPC - Roads
EPC - Roads Figures in Rs Mn Overview Roads order book § Involved in rehabilitation, upgradation, widening 45,395 and strengthening of roads and highways § Constructed 7,000+ lane kms of roads & highways 32,905 23,669 § Current Order book of Rs 45,395mn; Captive – Rs 13,255 17,793mn & third party –
Slide 11: EPC – Power distribution
EPC – Power distribution Figures in Rs Mn Overview Power EPC order book § Involved in modernizing and setting up new 18,025 16,808 power distribution lines § Started with projects in Maharashtra, expanded 11,969 into states of Bihar, Tamil Nadu & Chattisgarh 8,202 § Executed 25+ power distribution w
Slide 12: EPC order backlog
EPC order backlog Order backlog of 62 bn (December 31st 2016) Roads Rs. Mn Power T&D Rs. Mn BOT 17,793 16,808 Dhankuni 594.9 Maharashtra 862 Annuity BOT - Bagewadi 2,484 Bihar 12,661 Annuity BOT - Hungund 2,428 Tamil Nadu 886 Uttar Pradesh 2,399 Hybrid Annuity - Ludhiana 12,286 EPC 27,602 Eastern Pe
Slide 13: EPC business financial performance
EPC business financial performance Figures in Rs Mn Revenue* EBITDA and EBITDA Margin 15% 14% 17% 15% 19,037 19,667 3,383 15,252 14,638 2,638 2,274 2,248 Mar'14 Mar'15 Mar'16 Dec'16 FY14 FY15 FY16 9M FY17 PAT and PAT Margin Order Book 8% 5% 8% 8% 62,203 1,601 1,156 1,189 41,680 1,042 35,650 31,280 F
Slide 14: Development Business
Development Business 14
Slide 15: BOT portfolio overview
BOT portfolio overview ABL Owned BOT Projects Ashoka Concessions Limited (ACL) 1 BOT Projects ABL Stake BOT Projects ACL Stake 1 Ahmednagar Aurangabad Road 100.0% 1 Belgaum Dharwad Road 100.0% 2 Indore Edalabad Road 100.0% 2 Dhankuni Kharagpur Road 100.0% 3 Katni Bypass 99.9% 4 Wainganga Bridge 50.0
Slide 16: Concession Terms
ABL Owned BOT projects Figures in Rs Mn Ahmednagar- Particulars Indore Edalabad Wainganga Katni Bypass * Aurangabad Ownership (%) 100% 50% 100% 99.89% Project Details State Madhya Pradesh Maharashtra Maharashtra Madhya Pradesh Client MPRDC MORT&H PWD PWD Lanes / Lane kms 2 Lane / 406.60 2 Lane / 26.
Slide 17: Concession Terms
ABL Owned BOT projects Figures in Rs Mn Particulars Mudhol Nipani Road Bagewadi Saundatti * Hungud Talikot * Ownership (%) 100% 100% 100% Project Details State Karnataka Karnataka Karnataka Client PWD - KSHIP KRDCL KRDCL Lanes / Lane kms 2 Lane / 215.86 2 Lane / 126.57 2 Lane / 116.00 Signing Date 1
Slide 18: Concession Terms
ACL projects Figures in Rs Mn Rs. Mn Bhandara Durg Jaora - Nayagaon Belgaum Dharwad Ownership (%) 51% 51% 37% 100% Project Details State Maharashtra Chhattisgarh Madhya Pradesh Karnataka Client NHAI NHAI MPRDC NHAI Lanes / Lane kms 4 Lane / 376.80 4 Lane / 368.20 4 Lane / 340.24 6 Lane / 454.05 Sign
Slide 19: Concession Terms
ACL projects Figures in Rs Mn Rs. Mn Sambalpur Baragarh Dhankuni- Kharagpur Chennai ORR Kharar Ludhiana* Ownership (%) 100% 100% 50% 100% Project Details State Orissa West Bengal Tamil Nadu Punjab Client NHAI NHAI Govt. of Tamil Nadu NHAI Lanes / Lane kms 4 Lane / 407.60 6 Lane/ 840.50 6 Lane/ 183.0
Slide 20: Development business financial performance
Development business financial performance Figures in Rs Mn Revenue EBITDA and EBITDA Margin 69% 65% 61% 69% 6,999 4,860 4,358 2,671 2,893 2,942 2,000 1,917 FY13 FY14 FY15 FY16 FY13 FY14 FY15 FY16 20
Slide 21: Financial Highlights
Financial Highlights
Slide 22: Consolidated financial performance
Consolidated financial performance Figures in Rs Mn Revenue* EBITDA 26,666 8,242 23,396 18,742 18,194 5,308 3,934 4,191 FY13 FY14 FY15 FY16 FY13 FY14 FY15 FY16 Net profit Toll collection 1,212 10,107 1,131 8,882 815 7,434 6,524 585 FY13^ FY14 FY15 FY16 FY13 FY14 FY15 FY16 * Include other income 22
Slide 23: Debt as of December’16
Debt as of December’16 Figures in Rs Mn Consolidated debt outstanding Standalone debt 1,439 Project debt 37,366 Total 38,805 Standalone debt break-up - Equipment loan 537 - Working capital 902 Total 1,439 Notes: • Consolidated debt as per IGAAP 23 • Project debt does not include debt of Chennai ORR
Slide 24: Standalone Q3 FY17 profit & loss highlights
Standalone Q3 FY17 profit & loss highlights Rs mn Q3 FY17 Q3 FY16 YoY 9MFY17 9MFY16 YoY Total Income from Operations 5,240 4,434 14,351 13,861 Other Income 115 112 287 436 REVENUE 5,355 4,546 17.8% 14,638 14,297 2.4% Operating Expenses 4,620 3,931 12,390 12,068 EBITDA 735 615 19.5% 2,248 2,229 0.9%
Slide 25: Consolidated FY16 profit & loss highlights
Consolidated FY16 profit & loss highlights FY 16 FY 15 Rs mn EPC BOT Consol EPC BOT Consol Total Income from Operations 19,239 6,906 26,145 18,869 4,328 23,197 Other Income 428 93 521 168 30 198 REVENUE 19,667 6,999 26,666 19,037 4,358 23,396 EBITDA 3,383 4,860 8,242 2,638 2,671 5,308 EBITDA margin
Slide 26: Gross toll collection
Gross toll collection (Rs. Mn) Q3 FY 17* Q3 FY 16 Q2 FY 17 ACL Projects Belgaum Dharwad 141.2 171.2 177.9 Dhankuni – Kharagpur 478.2 596.9 650.9 Bhandara 111.1 153.9 145.7 Durg 138.1 189.0 179.2 Jaora – Nayagaon 339.1 439.9 425.2 Sambalpur 96.6 108.0 122.8 Sub-total 1,304.4 1,658.8 1,701.7 ABL Owned
Slide 27: 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 / Pooja Dokania paresh.mehta@ashokabuildcon.com vgaurang@stellar-ir.com / dpooja@stellar-ir.com CIN : L45200MH1993PLC071970 CIN : U7
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