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×

afcons infrastructure Limited

34.00
+ 0.00 %
Scrip Name
Afcons Infra
ISIN No.
INE101I01011
PAN No.
AAACA9067G
Face Value
10
No. of Outstanding Shares
340,738,268
Market Capitalization
1,158.51 Crore
Book value
79.321
P/BV
0.429
EPS
10.495
PE ratio
3.24
Available on
nsdlcdsl
ROFR Required
No

AFCONS INFRASTRUCTURE LIMITED UNLISTED SHARE 

Founded on 22 November 1976, Afcons Infrastructure Limited is registered at the Registrar of Companies, Mumbai. It’s a group company of Shapoorji Pallonji Company Private Limited. Its authorized share capital is Rs. 10,00,00,00,000 and its paid-up capital is Rs. 71,97,02,38,000.

The principal activity of the Company and its subsidiaries and jointly controlled operations (the “Group”) are infrastructure development and construction.

Afcons have a presence in almost the entire spectrum of infrastructure activities in India and overseas. The Group is engaged in marine works, highways, bridges, metro works, powerhouses, tunnels, oil and gas, LNG tanks, and other general civil engineering projects both in India and overseas.

INCORPORATION DETAILS

CIN

U45200MH1976PLC019335

Registration Date

22.11.1976

Company Name

Afcons Infrastructure Limited

Email Address

--

Category/Sub-category of the Company

Public Company limited by Share Capital / Indian Non-Government Company

Registration Number

19335

Address of the Registered office & contact details

Afcons House, 16, Shah Industrial Estate,

Veera Desai Road, Azad Nagar,

P.O., Andheri West, Mumbai-400053

Tel.: +91 22 67191000

Fax: +91 22 26730027 / 1031 / 0047

Website: www.afcons.com

Company Secretary & Compliance Officer

Gaurang  M. Parekh

Name, Address & contact details of the Registrar & Transfer Agent, if any

Cameo Corporate Service Limited

Subramanian Building, 1 Club House Road,

Chennai-600002

Tel. no.: 044-28460390

Fax no.: 044-28460129

Email id.: afcons@cameoindia.com

 

PARTICULARS OF HOLDING, SUBSIDIARY & ASSOCIATE COMPANIES

 

S.NO.

Name Of the Company

Category

%Of Shares Held

1.

Hazarat and Company Pvt. Ltd

Subsidiary

100%

2.

Afcons Corrosion Protection Pvt. Ltd.

Subsidiary

100%

3.

Afcons Hydrocarbons Engineering Pvt. Ltd

Subsidiary

100%

4.

Afcons Oil & Gas Services Pvt. Ltd.

Subsidiary

74%

5.

Afcons Infrastructures Kuwait for Building, Road, and Marine Contracting WLL*

Subsidiary

49%

6.

Afcons Construction Mideast LLC*

Subsidiary

49%

7.

Afcons Gulf International Projects Services FZE

Subsidiary

100%

8.

Afcons Mauritius Infrastructure Ltd.

Subsidiary

100%

9.

Afcons Overseas Singapore Pte Ltd.

Subsidiary

100%

10.

Afcons Infra Projects Kazakhstan LLP

Subsidiary

100%

11.

Afcons Saudi Constructions LLC

Subsidiary

100%

12.

Afcons Overseas Project Gabon SARL

Subsidiary

100%

 

BOARD OF DIRECTORS

 

S.NO.

Name of the Directors

Category

1.

S. P. Mistry -

Chairman

2.

K. Subramanian

Executive Vice Chairman

3.

P. S. Mistry

Director

4.

N. D. Khurody

Director

5.

P. N. Kapadia

Director

6.

R. M. Premkumar

Director

7.

U. N. Khanna

Director

8.

R.M. Nentin (Ms.)

Director

9.

S. Paramasivan -

Managing Director

10.

Giridhar Rajagopalan

Deputy Managing Director

11.

Akhil Kumar Gupta

Executive Director (Operations)

 

Principal Business Activities of the Company

Name & Description of main products/services

NIC Code of the Product /service

% of the total turnover of the company

Construction Activities

41001, 42101, 42102, 42201

100%

 

SHAREHOLDING PATTERN (As of 31-03-2021)

S. No.

Shareholder’s Category

No. of Shares

% of total Shares of the company

1.

Promoter’s holding

   
 

Indian Promoters -Bodies Corporate

62121581

86.32

 

Subtotal (1)

62121581

86.32

2.

Non-Promoters Holding

   
 

Companies / Bodies Corporate

8082620

11.23

 

Employees Trust

1191370

1.66

 

Directors & their Relatives

110057

0.15

 

Employees / Retired Employees / General Public

461530

0.64

 

Subtotal (2)

9845577

13.68

3.

Investor Education & Protection Fund  (3)

3080

0.00

 

Total (1+2+3)

71970238

100.00

 

INDUSTRY OUTLOOK

Afcons bagged new projects worth 7,800 crores in FY 2020–21. In addition to this, there are 3,360 crores of L1 orders. The pending order book position of the company as on 31st March 2021 stands at ` 29,608 crores (including above L1 orders of ` 3,360 crores). The competitive intensity continued to rise in the domestic market. The number of companies participating in tenders increased and several tenders witnessed intense underbidding compared to client estimates. While this may pose challenges to the profitability of the Company in the future, today it poses a challenge for bagging the job at the right price.

 

Afcons is recognized as a credible construction company in international markets. Afcons is ranked 7th largest international marine and port facilities contractor and 13th largest Bridge contractor in the world as per ENR’s (Engineering News-Record, USA) 2020 Top International Contractors Rankings.

The existing pending order book provides Afcons with revenue visibility for the next 3 years. Afcons projects are well spread across countries – India, Africa, the Middle East, and South Asia. Even in India, projects are located across different states.

Afcons businesses are managed across business units and sub-segments, the projects are diversified and there is no dependence on a single business unit. At the core of its strategy, the Company aims to become a Knowledge Enterprise. On its journey towards becoming a Knowledge Enterprise, Afcons has made substantial progress. Afcons won the MIKE (Most Innovative Knowledge Enterprise) award for three levels – Global, Asian, and Indian in 2020 as well. This is the fifth successive year when Afcons has won this prestigious award at all three levels – the MAKE award (Most Admired Knowledge Enterprise, now discontinued and followed by MIKE award) in 2016 & 2017 and MIKE award in 2018, 2019 & 2020.

In the current year, Afcons worked with utmost priority to chart growth plans and maintain focus on operations to deliver projects ahead of schedule or on time. Afcons would continue its strategy to expand in overseas markets and would further strive to increase international operations. The Company would continue its journey of becoming a Knowledge enterprise.

CONSOLIDATED PROFIT & LOSS STATEMENT OF AFCONS INFRASTRUCTURE LIMITED (Amount in Crore)

(As of 31-03-2018 to 31-03-2021)

Particular

2021

2020

2019

2018

Income

 

 

 

 

Revenue from Operations

9,375.57

9,934.19

8,726.82

6,551.09

Other Income

145.56

196.50

148.86

136.64

Total Income

9,521.13 

10,130.69

8,875.68

6,687.73

Expenses

 

 

 

 

Cost of Materials Consumed

2,544.56

 

2,676.88

2,115.81

          1,941.82

Cost of construction

4,112.64

4,731.12

4,371.47

           2,424.10

Employee Benefits Expense

924.16

 

971.37

823.39

754.18

Finance Costs

467.57

390.79

284.68

306.21

Depreciation and amortization expense

249.97

240.30

248.56

 

200.61

Repair and Maintenance

 

 

 

 

Other Expenses

931.73

744.61

712.51

816.67

Total Expenses

9,230.63 

9,755.07

8,556.42

6443.59

Profit/Loss before tax

290.50 

375.62

319.26

244.14

Tax Expenses

 

 

 

 

Current tax

115.46

129.97

116.28

56.56

Deferred tax

3.05

(7.28)

(35.96)

26.02

 Tax expense/(income) relating to prior year (net)

2.10

5.24

4.50

 

(2.56)

Total Tax

120.61

127.93

84.82

80.02

Profit Of the year 

169.89 

247.69

234.44

164.12

Other comprehensive income

 

 

 

 

Items that will not be reclassified to profit or loss

 

 

 

 

Changes in fair value of equity investments measured at FVTOCI

0.26

 

(0.31)

0.21

 

7.86

Re-measurements of defined benefit plans

1.32

 

(8.94)

(3.84)

(0.85)

Tax relating to above

(0.46)

3.12

1.34

0.30

 Items that may be reclassified to profit or loss

 

 

 

 

Exchange differences in translating the financial statements of a foreign operation

3.84

 

6.32

2.35

 

17.34

 

4.96

0.19

0.06

24.65

Total comprehensive income

174.85 

247.88

234.50

188.77

Profit for the year attributable to

 

 

 

 

Owners of the Company

166.97

245.59

240.10

173.61

Non-controlling interest

2.92

2.10

(5.66)

(9.49)

Other comprehensive income for the year attributable to

 

 

 

 

Owners of the Company

4.96

0.19

0.06

24.65

Non-controlling interest

-

-

 

 

Total comprehensive income (net of income tax) for the year attributable to

 

 

 

 

Owners of the Company

171.93

245.78

240.16

198.26

Non-controlling interest

2.92

2.10

(5.66)

(9.49)

Earnings Per Equity Share

 

 

 

 

Basic & Diluted

23.60

34.41

32.57

22.80

Basic & Diluted (excl. extraordinary item)

4.99

 

7.27

6.88

4.82

 

CONSOLIDATED BALANCE SHEET OF AFCONS INFRASTRUCTURE LIMITED (Amount in Crore)

(As of 31-03-2018 to 31-03-2021)

PARTICULARS

2021

2020

2019

2018

Equity and Liabilities

 

 

 

 

Share Capital

521.97

521.97

521.97

521.97

Other Equity

1,868.04

1,721.35

1,500.82

1,269.08

Equity attributable to shareholders of the Company

 

2,390.01

2,243.32

2022.79

1791.05

Non-controlling interest

(10.53)

(10.53)

(15.55)

(9.89)

Total Equity

          2,379.48

       2,229.87

2,007.24

1,781.16

 

 

 

 

 

Non-Current Liabilities

 

 

 

 

Financial Liabilities

 

 

 

 

Borrowings

472.64

572.82

650.35

755.72

Trade payables

-

-

-

 

Total outstanding due to micro and small enterprises

 

4.57

-

-

 

Total outstanding due to creditors other than micro and small enterprises

 

447.69

557.12

 

381.29

195.75

Lease Liabilities

13.12

16.47

-

-

Other financial liabilities

248.59

129.46

107.73

209.92

Contract liabilities

1,576.73

1,942.73

1,615.63

763.09

Provisions

28.80

33.27

24.38

7.76

Deferred tax liabilities (net)

211.90

212.75

180.42

163.29

Total  Non-Current Liabilities

3,004.04 

3,464.62

2,959.80

2095.53

Current Liabilities

 

 

 

 

Financial Liabilities

 

 

 

 

Borrowings

833.63

953.16

855.05

769.37

Trade Payables

 

 

2,495.93

1,843.47

 Total outstanding dues of micro-enterprises and small enterprises

344.69

55.56

3.67

-

Total  outstanding dues of creditors other than micro-enterprise and small enterprise

 

2,767.27

       3,305.65

 

2492.26

-

Lease Liabilities

14.53

29.23

-

-

Other financial liabilities

485.57

284.84

205.93

-

Contract liabilities

2,522.17

2,674.72

1,844.28

696.05

Provisions

43.33

23.64

15.58

32.61

Current tax liabilities (net)

46.10

17.33

12.17

11.26

Other Current Liabilities

49.14

58.16

61.19

968.58

Total   Current Liabilities

7106.43

7402.29

5,490.13

4,321.34

Total  Liabilities

10110.47

10866.91

8,449.93

6,416.87

Total equity and liabilities 

12489.95

13096.78

10,457.17

8,198.03

Assets 

 

 

 

 

Non-Current Assets

 

 

 

 

Property, Plant, and Equipment

1,975.80

1,888.17

1,684.28

1,594.09

Capital work-in-progress  

145.52

17.94

30.54

21.74

right-of-use assets

26.22

43.47

-

-

Goodwill

0.14

5.55

5.32

5.16

Other Intangible assets

0.46

0.64

1.19

1.73

Financial assets

 

 

 

 

Investments

0.40

0.15

3.15

2.94

Trade receivables

474.36

536.40

234.21

125.04

Other financial assets

273.87

278.77

134.72

787.71

Contract assets

1,493.02

1,723.94

1369.29

-

Non-current tax assets (net)

110.65

155.01

122.96

71.65

Other non-current assets

181.11

187.79

160.86

90.00

Total Non - current Assets

4,681.55 

4,837.83

3,746.52

2,700.06

Current Assets

 

 

 

 

Inventories

938.39

1,067.16

857.00

557.86

Financial assets

 

 

 

 

Investments

-

-

-

-

Trade Receivables

2,575.04

2,475.19

2053.62

1,431.38

Cash and Cash Equivalents

612.52

522.54

317.44

126.27

Bank balances (other than above)

98.42

116.10

25.10

28.09

 Loans

50.13

40.58

63.94

91.02

Other financial Assets

114.20

58.44

202.48

2,955.37

Contract assets

2,455.38

3,149.76

2678.54

-

Other current assets

964.32

829.18

512.53

307.98

Total  Current Assets

7,808.40 

8,258.95

6,710.65

5,497.97

Total Assets

12,489.95 

13,096.78

10,457.17

8,198.03

 

DIVIDEND AND RETAINED EARNINGS (As of 31-03-2018 to 31-03-2021)

Particulars

2021

2020

2019

2018

Dividend

Rs.3.5 per share

 Rs.3.5 per share

 Rs.3.5 per share

 Rs.3.5 per share

Retained Earnings (In Rs. Crore)

            1,695.13

1,543.79

1,339.27

1,091.05

 

PERFORMANCE OF THE COMPANY

Revenue from Operations decreased from Rs. 9,934.19 Crore in FY 2020 to Rs. 9,375.57 Crore in FY 2021, showing a decline of 5.62% as compared to the previous financial year.

Finance Cost has been increased from Rs. 390.79 Crore in FY 2020 to Rs. 467.57 Crore in FY 2021.

In FY 2021, Company’s Net Profit stood at Rs. 174.85 Crore, 29.46% less than the Net Profit of Rs. 247.88 Crore in FY 2020.

The current Ratio of the company as of 31st March 2021 was 1.10.

The debt-to-equity ratio of the company as of 31st March 2021 was 4.25.

In the financial year 2020-21, the company paid a dividend of Rs.3.5 Per Share.

Annual Reports

2020-21

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