Afcons Infrastructure Limited — Important, 23-11-2024: Financial Result Updates

Total income for the quarter ended September 30, 2024, stood at ₹3,090 crore, reflecting a decline of 10% year-on-year and a decrease of 3.9% quarter-on-quarter. For the half-year, total income reached ₹6,303 crore, down 5.3% from ₹6,655 crore in the previous year.

EBITDA for the quarter was ₹427 crore, an increase of 8.5% compared to ₹394 crore in Q2 FY24, with a robust EBITDA margin of 13.8%, the highest for the quarter. In the first half of FY25, EBITDA was ₹799 crore, up 12.8% year-on-year.

Profit after tax (PAT) for Q2 FY25 climbed to ₹135 crore, a significant growth of 30% year-on-year, with a margin of 4.4%. Cumulatively, PAT for H1 FY25 was ₹227 crore, up 16.3% compared to the previous year.

Operational costs reflected a strategic tightening, indicating effective cost management as evident from the improved EBITDA margins. The company's net debt increased to ₹2,640 crore from ₹1,789 crore due to capital expenditures, although ₹600 crore of IPO proceeds have been earmarked for debt repayment.

The order book as of September 30, 2024, stands at ₹34,152 crore, showcasing a solid backlog and providing visibility for future revenues. The stock presents a hold insight given the mixed financial performance, strong order book, and effective cost management strategies amidst top-line challenges.