Key takeaways of the

Order inflow in Q2FY18 was Rs 141 crore. Order book as end of September 30, 2017 stood at Rs 7715 crore and of which about 67.87% (or Rs 5236.53 crore) is from transport sector, 11.61% (Rs 895.60 crore) is from irrigation sector and 20.52% (Rs 1583.05 crore) is from mining sector. In addition the company is Lowest bidder (L1) for orders worth Rs 1741 crore.

Of the road order book of Rs 5236.53 crore about Rs 4541.36 crore is BOT orders and RS 695.17 crore is EPC projects.

Confident of achieving the guidance given in first quarter relating to revenue, EBITDA margin and order inflow for FY18. Earlier the company has given a guidance of Rs 3800 crore of revenue for FY18 and EBITDA margin of in the range of 11-12%. New order intake Rs 3457 crore achieved so far and confident of attaining FY18 target of Rs 7000 crore

EBITDA margins will increase due to execution of better margin road epc projects as well as HAM projects going forward.

Strong reduction in debt in H1FY18 was facilitated by mobilization advance from 3 HAM projects, claims from irrigation projects and recovery of additional cost due under price variations items. Expect s debt reduction of another Rs 150-200 crore during H2FY18 from Sep 30, 2017 level.

Current irrigation order book will be completed by end of FY19.

Expects tendering of many projects by NHAI, MORTH etc. Financial bids are to be submitted for projects worth Rs 15004 crore before Dec 31, 2017. Thirteen projects worth RS 13065 crore for which the company is shortlisted are expected to be bidded out under EPC mode by December 2017 as per NHAI website. Over and above the company expects large number of bids from MORTH through various State Governments, in coming couple of quarters.

Mining projects worth Rs 1026 crore are under tendering and financial bids are to be submitted by end of November 2017.

Nine irrigation projects worth Rs 3200 crore largely in the states of MP, Karnataka and Rajasthan are expected to be bidded out before Dec 2017. Four projects for which already bids were submitted by the company are yet to be opened.

In Road segment, execution is going on at very fast speed in all EPC Projects. Construction has also started in five HAM projects. Construction in balance two HAM projects will start from Q3FY18 onwards.

Mobilisation advance worth Rs 60 crore has been received in one HAM projects in Q2FY18. Mobilisation advance from balance four HAM projects worth Rs 295 crore shall be received in H2FY18.

Revenue from execution of four HAM projects is Rs 53 crore during Q2FY18.

GST in roads – aggregate liability Liability 12%, input credit is 7% 3-5 effective liability and this is in-line with the pre GST era tax.

Arbitration claim of Rs 105 crore received from Rohtak panipat by BOT subsidiary and significant part is due to Sadbhav Engg.

Arbitration is on for 3 more project including Mumbai-Nashik road project. Claim amount is almost Rs 625 crore on these projects. Expecting proceeds will be completed by Dec 2018.