ITD Cementation India Ltd (NSE:ITCE) Q2 2019 Earnings Conference Call Transcript

Aug 14, 2019 • 01:30 am ET

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ITD Cementation India Ltd (NSE:ITCE) Q2 2019 Earnings Conference Call Transcript

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Presentation
Operator
Operator

Ladies and gentlemen, good day, and welcome to the ITD Cementations India Limited Q1 FY '20 Earnings Conference Call hosted by ICICI Securities Limited. As a reminder, all participant lines will be in the listen-only mode and there will be an opportunity for you to ask questions after the presentation concludes.

[Operator Instructions] Please note that this conference is being recorded.

I now hand the conference over to Mr. Adhidev Chattopadhyay from ICICI Securities. Thank you, and over to you.

Executive
Adhidev Chattopadhyay

Yeah. Good morning, everyone. Thank you for joining us on the call today. From the management today we have with us Mr. Jayanta Basu, the Managing Director and Mr. Prasad Patwardhan, the Chief Financial Officer. And now I'd like to hand it back to the management for opening remarks. Thank you.

Executive
Prasad Patwardhan

Thank you, Adhidev. Good morning, everyone, and thank you for joining us on this Q1 FY '20 earnings call. Just to take you through the financial highlights of our performance in the quarter ending June 2019, we have reported gross income from operations of INR705 crores, which is an increase of about 19% as compared to the quarter ending March 2019. So on quarter-on-quarter basis, the increase is about 19%.

BITDA reported is about INR82 crores against an EBITDA of INR8 crores in the quarter ending March '19. The EBITDA percentage is a shade over 11.5%. And our profit after tax for this quarter is INR17 crores as compared to a loss of about INR35 crores in the previous quarter.

In terms of debt, our net debt is about INR480 crores, which gives us a debt-to-equity ratio of just around 0.5 times, which is in line with what was the debt level in the previous quarter, a shade -- small increase in the debt levels. The working capital cycle continues to be robust and within control. The notable achievement in this quarter is our all-time high order book of about INR10,155 crores.

And in addition to the order book, we are lowest on orders worth about INR2,700 crores, largely comprising of three tunneling orders from Ircon worth about INR1,200 crores. There is one CPWD order in New Delhi worth about INR1,100 crores and one micro tunneling project in Mumbai worth about INR200-plus-crores.

So that is all from my side. I will now hand over to our MD, Mr. Basu for his opening remarks on the operating performance of the Company and thereafter we'll take your questions. Thank you.

Executive
Jayanta Basu

Thank you, Prasad, and good morning ladies and gentlemen. Prasad has covered our financial performance on last quarter. Maybe you will be interested to know the operational performance of some of the key projects we are doing. So I'll take you through one by one.

Marine sector Udangudi, the job we are doing in Tamil Nadu, so far we have actually done around 18% progress. Because of monsoon there is some slow progress last month, but the progress -- good job -- is doing well. And we are into the sea now.