Ashoka Buildcon Limited · NSE:ASHOKA
Ashoka Buildcon — Q2 FY24 Earnings Presentation
37 slides from Ashoka Buildcon's earnings presentation, Nov 9, 2023
Slide 1: Result Update Presentation filing 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 November 2023
Investor Presentation November 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: Q2 FY24 Business Highlights
ASHOKA Ashoka Buildcon Ltd. Q2 FY24 Business Highlights
Slide 5: Q2 FY24 Business Highlights
Q2 FY24 Business Highlights Receipt of Letters of Award from MSEDCL in September 2023 Company has received Letters of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for Development of Distribution Infrastructure for Four Circles in the state of Maharashtra Yavat
Slide 6: Q2 FY24 Business Highlights
Q2 FY24 Business Highlights Receipt of Letter of Award from MSEDCL in October 2023 Company has received Letters of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for Development of Distribution Infrastructure in the state of Maharashtra for Osmanabad Circle for
Slide 7: Q2 & H1 FY24 Financial Performance Highlights
Q2 & H1 FY24 Financial Performance Highlights
Slide 8: Q2 & H1 FY24 Standalone Financial Performance Highlights
Q2 & H1 FY24 Standalone Financial Performance Highlights Total Revenue (Rs Crs.) EBITDA (Rs Crs.) EBITDA Margin % PAT (Rs Crs.) +21% +22% +9% Q2 nFY24 1,590 172 10.8% 10.8% 71 65 1,310 142 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 Q2 FY23 Q2 FY24 +12% -16% -48% 3,147 317 11.3% 170 2,820 268 H1
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 7,080 6,988 6,895 6,978 7,200 865 869 846 876 988 1,118 735 526 442 393 6,211 6,142 6,019 5,990 6,082 216 270 2
Slide 10: Standalone Profit & Loss Statement
Standalone Profit & Loss Statement Particulars (Rs. Crs.) Q2 FY24 Q2 FY23 Y-o-Y Q1 FY24 Q-o-Q H1 FY24 H1 FY23 Y-o-Y Revenue from Operations 1,561.3 1,289.9 21% 1,532.1 2% 3,093.3 2,769.8 12% Other Income 28.4 20.0 25.3 53.7 50.4 Total Revenue 1,589.7 1,309.9 21% 1,557.3 2% 3,147.0 2,820.2 12% Operat
Slide 11: Standalone Balance Sheet
Standalone Balance Sheet Assets (Rs. Crs.) Sep’23 Mar’23 Equity & Liabilities (Rs. Crs.) Sep’23 Mar’23 Non - Current Assets 2,197.5 2,048.6 Total Equity 3,457.3 3,369.7 Property Plant & Equipments 307.8 273.2 Share Capital 140.4 140.4 Capital Work In Progress 11.0 28.5 Other Equity 3,316.9 3,229.4 I
Slide 12: Consolidated Profit & Loss Statement
Consolidated Profit & Loss Statement Particulars (Rs. Crs.) Q2 FY24 Q2 FY23 Y-o-Y Q1 FY24 Q-o-Q H1 FY24 H1 FY23 Y-o-Y Revenue from Operations 2,154.3 1,807.7 19% 1,935.2 11% 4,089.5 3,686.3 11% Other Income 41.0 37.1 38.0 79.0 74.5 Total Revenue 2,195.3 1,844.8 19% 1,973.1 11% 4,168.5 3,760.8 11% Op
Slide 13: Consolidated Balance Sheet
Consolidated Balance Sheet Assets (Rs. Crs.) Sep’23 Mar’23 Equity & Liabilities (Rs. Crs.) Sep’23 Mar’23 Non - Current Assets 1,590.2 1,293.8 Total Equity 2,165.7 1,974.8 Property Plant & Equipments 321.1 286.8 Share Capital 140.4 140.4 Capital Work In Progress 47.0 62.3 Other Equity 1,794.1 1,614.2
Slide 14: Cashflow Statement
Cashflow Statement Standalone Consolidated Particulars (Rs. Crs.) Sep’23 Sep’22 Sep’23 Sep’22 Profit Before Exceptional Items & Tax 116.9 226.6 263.8 296.8 Adjustments for: Non-Cash / Other Items 122.1 48.1 795.4 635.6 Operating profit before working capital changes 239.0 274.7 1,059.2 932.4 Changes
Slide 15: Company Overview
ASHOKA Ashoka Buildcon Ltd. Company Overview
Slide 16: Ashoka Buildcon – Legacy of Excellence
Ashoka Buildcon – Legacy of Excellence 45+ YEARS of INR 15,000+ 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 17: 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 18: 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 19: Strong Order Book
Strong Order Book Segment Breakup Region Breakup Client Breakup 0.3% 9.8% 5.8% 9.8% North 3.9% 9.3% 31.2% Road EPC 35.4% South 25.7% 41.4% 12.8% Road HAM East Central Govt 9.7% Building EPC* West State Govt Railways Central HAM 10.1% Power T&D 8.8% North East Private Client 31.8% CGD 8.8% 5.3% Overs
Slide 20: Current Order Backlog
Current Order Backlog Segment Rs. Crs. Segment Rs. Crs. Roads 6,541 Other EPC Projects 8,255 Tumkur-Shivamoga IV, Karnataka 583 Rajasthan 278 Baswantpur to Singnodi 377 Jammu & Kashmir 173 Tumkur-Shivamoga III, Karnataka 144 Uttar Pradesh 611 Tumkur - Shivamoga II, Karnataka 81 Madhya Pradesh 734 HA
Slide 21: 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 30 th Sep 2023) (ACL/ABL) Equity Debt Received Invested Received Drawn Est. Received
Slide 22: 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 30 th Sep 2023) Period Date 30th Sept 2023 ACL Projects Premium of Rs. Rs. 31 Cr BOT (Toll), Belgaum Dharwad 100% KN
Slide 23: Gross Toll Collection
Gross Toll Collection Projects (Rs. Crs.) Q2 FY24 Q2 FY23 Y-o-Y H1 FY24 H1 FY23 Y-o-Y ACL Projects Belgaum Dharwad 32.7 31.3 4.4% 67.9 65.3 4.1% Dhankuni Karagpur 122.0 111.6 9.3% 248.7 229.1 8.6% Bhandara 26.6 22.2 20.0% 54.2 44.4 22.1% Durg 31.3 25.7 22.0% 62.9 50.9 23.7% Jaora – Nayagaon 56.3 51.
Slide 24: 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 25: 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. Mahendra Mehta Ms. Shilpa Hiran Mr. Gyan Chand Daga Abhyankar Independent Director Independent
Slide 26: 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 27: 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 28: Marquee Clients
Marquee Clients ….and many more 27 Developing Infrastructure for Better Tomorrow
Slide 29: 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 30: Historical Financial Details
Historical Financial Details
Slide 31: 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 32: 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 33: 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 34: 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 35: 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 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.
Slide 36: 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 Road Company Pvt Ltd. Road Project Q4 42.4 45.5 46.7 54.3 175.4 155.4 172.5 207.1 Q1 1
Slide 37: 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