Afcons Infrastructure Ltd Share Price – NSE /  BSE

Infrastructure Developers & Operators, Small Cap

The Honourable President of the Republic of Ghana, Nana Addo Dankwa Akufo-Addo, commissioned the first ever Tema-Mpakadan Standard Guage Railway Line, executed by Afcons Infrastructure, last week. The project cost is approximately US$447 million.

The 100km rail network project includes seven passenger stations, a 300-meter railway bridge over the Volta River, which is the first-of-its-kind in the country, two rail head facilities, four rail bridges, 11 road under bridges and 22 road over bridges.

The project will help decongest roads and will enhance the enhance efficiency of port operations at Tema, reducing the heavy dependency on the road transport, and long-distance freight and passenger movement.

The project was financed through India Exim Bank credit.

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Profit before tax (PBT) increased 19.26% YoY to Rs 190.68 crore during the quarter.

EBITDA stood at Rs 427 crore in Q2 FY25, up 8.5% as compared with Rs 394 crore posted in corresponding quarter last year. EBITDA margin fell 13.8% in Q2 FY25 as against 11.5% in Q2 FY24.

As on 30 September 2024, the company’s order book stood at Rs 34,152 crore.

The consolidated net debt stood at Rs 2,640 crore as of 30 September 2024 as compared with Rs 1,789 crore as of 30 September 2023.

Subramanian Krishnamurthy, executive vice chairman (whole-time director) 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.

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.”

The counter had entered into stock market on 4 November 2024, the scrip was listed at Rs 430.05, exhibiting a discount of 7.12% to the issue price of Rs 463.

Afcons Infrastructure Ltd is flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group, a diversified Indian conglomerate. It has a legacy of over six decades, with strong track record of executing numerous technologically complex EPC projects both within India and internationally.

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Net profit of Afcons Infrastructure rose 30.02% to Rs 135.44 crore in the quarter ended September 2024 as against Rs 104.17 crore during the previous quarter ended September 2023. Sales declined 11.23% to Rs 2959.69 crore in the quarter ended September 2024 as against Rs 3333.97 crore during the previous quarter ended September 2023.

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Afcons Infrastructure has received Letter of acceptance dated 21 November 2024 from Uttarakhand Project Development and Construction Corporation for Civil Works including HM Works for Construction of 130.6 m High Concrete Gravity Dam and Appurtenant Works across River Song of Song Dam Project in District Dehradun, Uttarakhand. The bid project cost is Rs 1274 crore.

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