Slide 1: Ashoka Buildcon filing cover letter to exchanges
ASHOKA 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 0
Slide 2: Investor Presentation Q3FY19 Result Update, September 2019
Developing Infrastructure for Better Developing Infrastructure for Better Tomorrow Tomorrow RESULT UPDATE INVESTOR P RESENTATION PRESENTATION | Q3FY19 SEPTEMBER 2019
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: Company Overview
ASHOKA COMPANY OVERVIEW
Slide 5: Company Overview
Company Overview 4+ decades 10,000+ Presence In-house capabilities Equipment bank of 2,500 Construction experience Lane kms constructed Working in 18 States Nos. 23 15 INR 90,378 Mn* 4,000+ Operational + Under PPP projects Completed & Order Book (as on 30th June 2019) Employed in Ashoka Family const
Slide 6: Our Journey
Our Journey 5 Successful QIP – Rs 5,000 mn Won 8 Road HAM projects 5 Completed Hulhumale city road project in Republic of Maldives 2015 & 4 Investment Commitment of Rs 1,500 mn by Morgan Stanley India 4 Beyond Well Established & Integrated Infrastructure Infrastructure in City Gas Distribution Busin
Slide 7: Management Team
Management Team Ashok Katariya Satish Parakh Sanjay Londhe Ashish Katariya Paresh Mehta Chairman Managing Director CEO (Projects) MD of ACL CFO Responsible for the Responsible for the Heads Execution of Heads Ashoka Heads Finance, strategic direction of overall management Highway Projects
Slide 8: EPC Business Highlights
ASHOKA EPC BUSINESS HIGHLIGHTS
Slide 9: EPC: Road
EPC: Road Overview Roads Order Book (Rs Mn) Involved in rehabilitation, upgradation, widening and 67,440 62,357 * strengthening of roads and highways 51,140 42,558 Constructed 10,000+ lane kms of roads & highways Current Order book of Rs 62,357* mn; Captive – Rs 41,696 mn & third party – Rs 20
Slide 10: EPC: Power Distribution & Railways
EPC: Power Distribution & Railways Overview Power Distribution, CGD & Railways EPC order book (Rs Mn) Power: 18,908 19,326 Involved in modernizing and setting up new power 15,930 16,500 distribution lines Started with projects in Maharashtra, expanded into states of Bihar, Tamil Nadu & Chattis
Slide 11: EPC order backlog, 2.1x FY19 Revenue
EPC order backlog, 2.1x FY19 Revenue Order backlog of Rs 81.6 bn as on 30th June, 2019 Segment Rs. Mn Segment Rs. Mn Roads 62,357 Others 19,326 BOT 41,696 Power T&D 8,280 HAM: Khrar - Ludhiana, Punjab 4,398 Maharashtra 95 HAM: Anandpuram 4,989 Bihar 3,974 HAM: Vadodara Kim, Gujarat 7,297 Uttar Prade
Slide 12: Order Book- Break-up (As on June 30, 2019)
Order Book- Break-up (As on June 30, 2019) Robust Order Book (in Rs. Mn) Order Book Break-up (%) 0.1% 13.4% 83,940 81,683* 10.1% 70,047 51.0% 58,487 25.3% Mar'17 Mar'18 Mar'19 Jun'19 Road BOT Road EPC Power T&D EPC Railways CGD * Excludes LoA received for HAM Tumkur – Shivamoga IV 11
Slide 13: EPC Business Financial Performance
EPC Business Financial Performance Figures in Rs Mn Revenue# EBITDA and EBITDA Margin 14% 17% 15% 15% 16% 39,363 6,309 25,461 20,245 20,852 3,912 3,383 3,146 9,110 1,437 FY16 FY17 FY18 FY19 Q1FY20 FY16 FY17 FY18 FY19 Q1FY20 PAT and PAT Margin Order Book 8% 5% 8% 9% 7% 83,940 81,683* 70,047 2,862 58,
Slide 14: Development Business
ASHOKA DEVELOPMENT BUSINESS
Slide 15: BOT Portfolio Overview
BOT Portfolio Overview ABL Owned BOT Ashoka Concessions Limited (ACL) BOT Projects ABL Stake BOT Projects ACL Stake 1 Belgaum Dharwad Road 100.0% 1 Ahmednagar Aurangabad Road 100.0% 2 Dhankuni Kharagpur Road 100.0% 2 Katni Bypass 99.9% 3 Sambalpur Baragarh Road 100.0% 4 Bhandara Maharashtra Road 51.
Slide 16: Financials Concession Terms
ABL Owned BOT Projects Ahmednagar- Particulars Wainganga ^ Katni Bypass * Aurangabad Ownership (%) 50% 99.89% 100% Project Details State Maharashtra Madhya Pradesh Maharashtra Client MORT&H PWD PWD Lanes / Lane kms 2 Lane / 26.00 2 Lane / 35.20 4 Lane / 168.00 Signing Date 16-Nov-98 19-Aug-02 18-Dec
Slide 17: Financials Concession Terms
ACL Projects Rs. Mn Bhandara Durg Jaora - Nayagaon Belgaum Dharwad Ownership (%) 51% 51% 37.74% 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 / 543.1 6 Lane / 454.05 Signing Date 18-Sep
Slide 18: Financials Concession Terms
ACL Projects Rs. Mn Chennai ORR Dhankuni- Kharagpur Sambalpur Baragarh Ownership (%) 50% 100% 100% Project Details State Tamil Nadu West Bengal Orissa Client Govt. of Tamil Nadu NHAI NHAI Lanes / Lane kms 6 Lane/ 183.00 6 Lane/ 840.50 4 Lane / 408.40 CA Date 18-Sept-13 20-Jun-11 29-Jun-10 Concession
Slide 19: Financials Concession Terms
ACL HAM Projects Ankleshwar Manubar Khairatunda Barwa Adda Rs. Mn Kharar Ludhiana Ranastalam Anandpuram Expressway Road Ownership (%) 100% 100% 100% 100% Project Details State Punjab Andhra Pradesh Gujarat Jharkhand Client NHAI NHAI NHAI NHAI Lanes / Lane kms 6 Lane/ 503.73 6 Lane / 282 8 Lane/104.0
Slide 20: Financials Concession Terms
ACL HAM Projects Bettadahalli Shivamogga Rs. Mn Mallasandra Karadi Road Karadi Banwara Road Belgaum Khanapur Road Road* Ownership (%) 100% 100% 100% 100% Project Details State Karnataka Karnataka Karnataka Karnataka Client NHAI NHAI NHAI NHAI Lanes / Lane kms 4 Lane/219.96 4 Lane/226.82 4 Lane/123.2
Slide 21: City Gas Distribution
ASHOKA CITY GAS DISTRIBUTION
Slide 22: City Gas Distribution – tapping the vast opportunity
City Gas Distribution – tapping the vast opportunity Large opportunity in the country as the segment is underpenetrated Diversification into asset class which has stable yields Successful precedent Enter new segment with a smaller pilot project set by building a Cost effectiveness of CNG as a fuel s
Slide 23: Financial Highlights
ASHOKA FINANCIAL HIGHLIGHTS
Slide 24: Gross toll collection
Gross toll collection (Rs. Mn) Q1 FY 20 Q1 FY 19 Y-o-Y (%) Q4 FY 19 Q-o-Q (%) ACL BOT Projects Belgaum Dharwad 236.8 229.9 3.0% 234.6 0.9% Dhankuni - Kharagpur 904.5 892.5 1.3% 883.8 2.3% Bhandara 174.3 167.1 4.3% 177.8 -2.0% Durg 198.3 195.1 1.7% 206.8 -4.1% Jaora - Nayagaon 459.8 516.4 -11.0% 489.
Slide 25: Gross toll collection
Gross toll collection (Rs. Mn) FY19 FY18 FY17 ACL Projects Belgaum Dharwad 915 878 699 Dhankuni – Kharagpur 3,510 3,176 2,557 Bhandara 674 648 570 Durg 794 785 700 Jaora – Nayagaon 2,010 2,029 1,638 Sambalpur 718 633 477 Sub-total 8,621 8,149 6,642 ABL Owned Projects Ahmednagar – Aurangabad 317 278
Slide 26: Adjusted Annual Gross toll collection
Adjusted Annual Gross toll collection (Rs. Mn) FY19 FY18 FY17 * ACL Projects Belgaum Dharwad 915 878 746 Dhankuni – Kharagpur 3,510 3,176 2,729 Bhandara 674 648 608 Durg 794 785 747 Jaora – Nayagaon 2,010 2,029 1,748 Sambalpur 718 633 509 Sub-total 8,621 8,149 7,088 ABL Owned Projects Ahmednagar - A
Slide 27: Debt Profile as of June 2019
Debt Profile as of June 2019 Consolidated Debt (Rs. Mn) Project Debt Standalone Debt 7,199 5,810 49,591 50,529 Mar'19 Jun'19 Consolidated Debt beak-up (Rs. Mn) Standalone Debt beak-up (Rs. Mn) Standalone debt 5,810 - Equipment loan 2,372 - Working capital 1,938 Project debt 50,529 - NCDs 1,500 Total
Slide 28: Standalone Profitability Highlights (as per IND-AS)
Standalone Profitability Highlights (as per IND-AS) Rs mn Q1 FY20 Q1 FY19 Y-o-Y(%) Q4 FY19 Q-o-Q(%) Total Income from Operations 8,768 6,837 13,074 Other Income 342 366 380 REVENUE 9,110 7,203 26.5% 13,454 -32.3% Operating Expenses 7,673 6,025 11,259 EBITDA 1,437 1,178 21.9% 2,195 -34.5% EBITDA marg
Slide 29: Standalone Profitability Highlights (as per IND-AS)
Standalone Profitability Highlights (as per IND-AS) Rs mn FY19 FY18 Y-o-Y(%) Total Income from Operations 38,206 24,483 Other Income 1,157 978 REVENUE 39,363 25,461 54.6% Operating Expenses 33,055 21,548 EBITDA 6,309 3,912 61.3% EBITDA margin 16.0% 15.4% Interest 907 485 Depreciation 763 532 Profit
Slide 30: Standalone Balance Sheet (as per IND-AS)
Standalone Balance Sheet (as per IND-AS) Rs mn Mar-19 Mar-18 Rs mn Mar-19 Mar-18 Shareholder’s Fund 22,120 19,263 Non-current assets 29,665 21,162 Share capital 1,404 936 Fixed assets 3,855 2,324 Reserves & Surplus 20,716 18,327 Other Non-current assets 25,810 18,838 Non-current liabilities 7,770 3,
Slide 31: Consolidated Profitability Highlights (as per IND-AS)
Consolidated Profitability Highlights (as per IND-AS) Rs mn Q1 FY20 Q1 FY19 Y-o-Y(%) Q4FY19 Q-o-Q(%) Total Income from Operations 11,681 9,619 15,968 Other Income 187 207 272 REVENUE 11,868 9,826 20.8% 16,240 -26.9% Operating Expenses 8,133 6,559 12,040 EBITDA 3,735 3,267 14.3% 4,201 -11.1% EBITDA m
Slide 32: Consolidated Profitability Highlights (as per IND-AS)
Consolidated Profitability Highlights (as per IND-AS) Rs mn FY19 FY18 REVENUE 50,072 36,546 IND-AS accounting treatment for CCDs in Ashoka Operating Expenses 35,358 24,635 Concession EBITDA 14,714 11,911 CCDs issued to SBI Macquarie treated as Financial EBITDA margin 29.4% 32.6% Liability & Record
Slide 33: Consolidated Balance Sheet (as per IND-AS)
Consolidated Balance Sheet (as per IND-AS) Rs mn Mar-19 Mar-18 Rs mn Mar-19 Mar-18 Shareholder’s Fund 2,869 3,159 Non-current assets 96,849 91,686 Share capital 1,404 936 Fixed assets 79,319 79,212 Reserves & Surplus 1,465 2,223 Other Non-current assets 17,531 12,474 Non Controlling Interest 1,189 9
Slide 34: 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 / Ms. Hina Agarwal paresh.mehta@ashokabuildcon.com vgaurang@stellar-ir.com / hina@stellar-ir.com CIN : L45200MH1993PLC071970 CIN : U