Ashoka Buildcon Limited

To,

To,

The Manager,

The Manager,

The Department of Corporate Services

The Listing Department

Bombay Stock Exchange 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

Scrip Code: 533271

Scrip Symbol: ASHOKA EQ.

August 10, 2023

Sub: Press Release

Please find enclosed herewith the copy of Press Release in respect of Unaudited Standalone and Consolidated Financial Results (Limited Review) for the quarter ended June 30, 2023.

Kindly take the matter on your record.

Thanking you,

For Ashoka Buildcon Limited

MANOJ

ACHYUT KULKARNI

Digitally signed by

MANOJ ACHYUT KULKARNI Date: 2023.08.10 21:57:23 +05'30'

(Manoj A. Kulkarni)

Company Secretary

ICSI Membership No. : FCS - 7377

Encl.: As above

Regd. Office : S.No. 861, Ashoka House, Ashoka Marg, Vadala, Nashik - 422 011, Maharashtra, India Tel. + 91 253 6633705Fax +91 253 2236704 www.ashokabuildcon.com

CIN : L45200MH1993PLC071970

Ashoka Buildcon Limited

Q1 FY24 Financial & Business Highlights

Revenue growth of 3% YoY for Q1FY24, Order Backlog of Rs. 16,920 Crores

10th August 2023, Nashik, Maharashtra

Ashoka Buildcon Limited (BSE: 533271 / NSE: ASHOKA), an integrated EPC and BOT player, reported its unaudited financial results for the quarter ended 30th June 2023.

Standalone Financial Performance

Particulars (Rs. Crs.)

Q1 FY24

Q1 FY23

YoY

FY23

Total Income

1,557

1,510

3%

6,478

EBITDA

96^

176

-46%

639

EBITDA Margin %

6.1%

11.6%

9.9%

Profit Before Tax

22

139

-84%

773*

Profit After Tax

16

104

-84%

671

  • EBITDA includes one-time provision related to execution of power project

*Includes Rs 349 Cr of Exceptional Gain due to Reversal of impairment on its investment/loans in its subsidiaries including

ACL

Q1 FY24 Standalone Financial Performance

  • Total Income of Rs. 1,557 Crores in Q1 FY24 against Rs. 1,510 Crores in Q1 FY23
  • EBITDA of Rs. 96 Crores with an EBITDA margin of 6.1% in Q1 FY24

Consolidated Debt is Rs. 6,978 Crores. The Debt on a Standalone basis is Rs. 988 Crores; which comprises of Rs.132 Crores of Equipment Loans & Rs.856 Crores of Working Capital loans.

BOT Division recorded a Toll Collection of Rs. 317 Crores in Q1 FY24 which grew by 13% YoY.

Order Book Summary as on 30th June 2023

Segment

Rs. Crs.

%

Road HAM

1,455

9%

Road EPC

5,802

34%

Power T&D

6,060

36%

Railways

1,412

8%

EPC - Building & CGD

2,191

13%

Total Order Book

16,290

Developing Infrastructure for Better Tomorrow

Key Updates from 1st April 2023 till date:

1. Receipt of Letter of Award from MSEDCL in April 2023

  • Company has received Letters of Award (LoA) from Maharashtra State Electricity Distribution Company Limited (MSEDCL) for Development of Distribution Infrastructure at Seven Circles in the state of Maharashtra
  • The total contract value is of Rs 2,285 Crs. Breakup given below:
  1. Latur - Rs 412 Crs o Nanded - Rs 410 Crs
    o Gadchiroli - Rs 396 Crs o Nashik - Rs 325 Crs
    o Akola Buldhana - Rs 266 Crs o Hingoli - Rs 265 Crs
    o Malegaon - Rs 211 Crs

About Ashoka Buildcon Limited:

Ashoka Buildcon Limited (BSE:533271, NSE: ASHOKA EQ) Ashoka Buildcon Limited is a Fortune India 500 company and one of the leading highway developers in India. The company is an integrated EPC, BOT and HAM player. The Company has experience of more than 28 years in the field of construction and infrastructure development. The Company has executed / been executing 41 PPP Projects and has presence over 20 states in the country. The Company has constructed various prestigious projects across the country in roads and highways sectors. Ashoka has time and again demonstrated its ability to transform the opportunities into success especially in sectors requiring complex skill sets.

Safe Harbor Statement:

Statements in this document relating to future status, events, or circumstances, including but not limited to statements about plans and objectives, the progress and results of research and development, potential project characteristics, project potential and target dates for project related issues are forward-looking statements based on estimates and the anticipated effects of future events on current and developing circumstances. Such statements are subject to numerous risks and uncertainties and are not necessarily predictive of future results. Actual results may differ materially from those anticipated in the forward-looking statements. The company assumes no obligation to update forward-looking statements to reflect actual results changed assumptions or other factors.

Developing Infrastructure for Better Tomorrow

For further details, please contact:

Investor Contact:

Ashoka Buildcon Limited

CIN - L45200MH1993PLC071970

Mr. Paresh Mehta - Chief Financial Officer

Email:paresh.mehta@ashokabuildcon.com

Website:www.ashokabuildcon.com

Investor Relations Partner

Strategic Growth Advisors Pvt. Ltd.

CIN: U74140MH2010PTC204285

Mr. Jigar Kavaiya / Mr. Harsh Shah

Email:jigar.kavaiya@sgapl.net/harsh.shah@sgapl.net

Tel: +91 99206 02034 / +91 97689 74808

www.sgapl.net

Developing Infrastructure for Better Tomorrow

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Ashoka Buildcon Limited published this content on 11 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 August 2023 09:47:02 UTC.