Afcons Infrastructure (AFCONS) Q4 20/21 earnings summary

Executive summary

• FY21 consolidated total income was ₹9,521.13 crore, down 6% YoY; PAT was ₹169.89 crore, down 31.41% YoY.

• Order book stood at ₹29,608 crore at March 31, 2021, including ₹3,360 crore of L1 orders; ₹7,800 crore of new projects were won during FY21.

• Projects and revenue were diversified across India and overseas markets, with order-book visibility cited at 18–24 months in the pandemic assessment.

Financial highlights

• Consolidated revenue from operations was ₹9,375.57 crore vs ₹9,934.19 crore; total income was ₹9,521.13 crore vs ₹10,130.69 crore.

• Consolidated EBITDA was ₹897.38 crore, down 3.48% YoY; PBT was ₹290.50 crore, down 22.66%, and PAT was ₹169.89 crore, down 31.41%.

• Standalone total income was ₹9,153.82 crore, down 3.7%; PBT ₹253.23 crore, down 33%; PAT ₹125.93 crore, down 47.95% YoY.

• Consolidated operating cash flow was ₹913.46 crore vs ₹1,049.52 crore; cash and cash equivalents ended at ₹612.52 crore vs ₹522.54 crore.

Outlook and guidance

• Strong order book was cited as supporting revenue visibility over the next 18–24 months; collections remained normal during lockdown and available undrawn fund-based facilities supported liquidity.

• Priorities included delivering projects on or ahead of schedule, expanding overseas operations, and continuing the knowledge-enterprise strategy.

• FY22 outlook remained contingent on pandemic waves, lockdowns and recovery; management expected gradual operational normalization as vaccination access widened.