Construction & Engineering company Afcons Infrastructure announced Q3FY25 results Total Income was Rs 3,332 crore in Q3FY25, compared to Rs 3,182 crore in Q3FY24. EBITDA for Q3FY25 came in at Rs 448 crore compared to Rs 393 crore in Q3FY24, reflecting a jump of 14.1% YoY. The company’s EBITDA margin came in at 13.5%, up ~111 basis points (bps) YoY PAT for Q3FY25 reached Rs 149 crore versus Rs 110 crore in Q3FY24, surging by 35.7% YoY. The corresponding PAT margin stood at 4.5% compared to 3.4% for Q3FY24. As of December 2024, the consolidated debt reduced to Rs 2,692 crore as compared to Rs 3,402 crore at the end of September 2024. Crisil rated company’s bank loan and assigned AA-/Stable (Long term) and A1+/Stable (Short term) upgrade from earlier rating of A+ (Long term) and A1 (Short term). The rating is on total bank loan facilities of Rs 21,960 crore. Subramanian Krishnamurthy, Executive Vice Chairman (Whole-time Director), said: “Afcons Infrastructure reported a robust set of results for the third quarter and nine months ended FY25 as we continue to build strongly on our performance. In Q3FY25, we reported a total income of Rs 3,332 crore, with our EBITDA margin elevated at an encouraging 13.5%, reflecting strong operational efficiency. Our profit after tax grew significantly by 36% year-on-year, highlighting our commitment to profitable and sustainable growth. Our business enables us to extract significant operating leverage from our operations, as evidenced from our quarterly results. Our order book reached a record Rs 38,021 crore, excluding L1 projects worth Rs 10,662 crore, comprising of high-quality diversified orders. Owing to this record order book we have a healthy book to bill of 3.1x providing certainty for sustainable profitable growth. We remain committed to driving top-line growth while maintaining healthy margins. On the balance sheet front, we have significantly reduced our net debt over the past few months, further reinforcing our financial strength. Additionally, our financial credibility has been reinforced by Crisil’s rating, assigning us AA-/Stable (Long Term) and A1+ (Short Term) for our bank loans. We remain dedicated to delivering long-term value to our stakeholders while contributing to the growth and development of our nation through transformative infrastructure projects and strengthening our presence on the global stage. Result PDF
Conference Call with Afcons Infrastructure Management and Analysts on Q2FY25 Performance and Outlook. Listen to the full earnings transcript.
Construction & Engineering company Afcons Infrastructure announced H1FY25 & Q2FY25 results The order book as of Sept’24 stood at Rs 34,152 crore, reflecting a strong revenue visibility. In H1FY25, order momentum was strong as the company received orders worth Rs 8,925 crore. Additionally, the company has emerged as the L1 bidder for orders amounting to Rs 10,154 crore of which LOAs have been received for orders worth Rs 3,752 post 30th Sept’24. Total Income stood at Rs 3,090 crore in Q2FY25, compared to Rs 3,434 crore in Q2FY24. For H1FY25, Total Income stood at Rs 6,303 crore compared to Rs 6,655 crore in H1FY24. EBITDA for Q2FY25 stood at Rs 427 crore as compared to Rs 394 crore in Q2FY24 representing a growth of 8.5% YoY. The company recorded highest ever EBITDA margin for the quarter which stood at 13.8% as against 11.5% for the same quarter last year. EBITDA for H1FY25 stood at Rs 799 crore up by 12.8% while margins stood at 12.7%. PAT for Q2FY25 stood at Rs 135 crore as compared to Rs 104 crore in Q2FY24 representing a growth of 30.0% YoY. PAT margin for the quarter stood at 4.4% as against 3.0% for the same quarter last year. PAT for H1FY25 stood at Rs 227 crore up by 16.3%. As of Sept’24 the consolidated net debt stood at Rs 2,640 crore compared to Rs 1,789 crore as of Mar’24. Post the IPO fund raise, the company has utilized the IPO proceeds to the extent of Rs 600 crore for repayment of debt and 320 crore towards working capital requirements Subramanian Krishnamurthy, Executive Vice Chairman, Afcons Infrastructure, said: “We are delighted to share Afcons Infrastructure's performance for the second quarter and first half of FY25. At the outset, I sincerely thank all our investors for their overwhelming support during our recent IPO. Your trust inspires us as we embark on this exciting new chapter of growth and value creation. In Q2FY25, we recorded total income of Rs 3,090 crore, achieving our highest-ever quarterly EBITDA margin of 13.8% and a robust 30% year-on-year growth in profit after tax. Our strong order book of Rs 34,152 crore, excluding L1 projects worth Rs 10,154 crore, reflects our ability to secure high-quality projects and the confidence our clients place in our capabilities. This healthy and diversified orderbook provides strong revenue visibility for the future. Aligned with our commitment to prudent financial management, we have utilized Rs 600 crore from the IPO proceeds to repay debt, further strengthening our balance sheet. While our revenue performance reflects challenges stemming from both external factors and internal strategic decisions, our steady improvement in profitability and operational metrics underscores our resilience and focus on sustainable growth. We remain dedicated to delivering long-term value to our stakeholders while contributing to the growth and development of our nation through transformative infrastructure projects and strengthening our presence on the global stage.“ Result PDF