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AU SMALL FINANCE BANK LTD.

NSE : AUBANKBSE : 540611ISIN CODE : INE949L01017Industry : Bank - PrivateHouse : Private
BSE705.60-10.9 (-1.52 %)
PREV CLOSE ( ) 716.50
OPEN PRICE ( ) 724.00
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 0.00 (0)
VOLUME 15636
TODAY'S LOW / HIGH ( )702.05 724.00
52 WK LOW / HIGH ( )366.2 1217.7
NSE707.90-8.75 (-1.22 %)
PREV CLOSE( ) 716.65
OPEN PRICE ( ) 725.00
BID PRICE (QTY) 0.00 (0)
OFFER PRICE (QTY) 0.00 (0)
VOLUME 191885
TODAY'S LOW / HIGH( ) 694.40 725.00
52 WK LOW / HIGH ( )366 1218
AnalystEmailIdsandip.jabuani@narnolia.com
AnalystNameSandip Jabuani
BSECode500510
CP1DesignationMD & CEO
CP1NameMr. S. N. Subrahmany
CP2DesignationCFO
CP2NameMr. Ramamurthi Shank
CP3DesignationNA
CP3NameNA
CallDate06 Jun 2020
DescriptionAt present 90% of sites are operational with 40% labour availability. International execution has not impacted as much as domestic projects execution impacted. Though, the work has slowdown in first 2 months but now coming back at normal level. Africa region is least impacted and work is going at normal pace. 1.17 lakh laborers are on site and company required at least 2 lakh laborers to ramp up the execution. Some of the subcontractor is arranging buses to bring back the migrant labour at site. Currently company is adding 1500-2000 labours per day and planning to 3000 labours in day in next few days. Lot of laborers are coming back from Middle East and company is trying to recruit them. None of the Central, State or any other government agency is deferring the ongoing projects. Currently 80% orders are from Central, State or government agency and out of it 50% are funded by multilateral agency and 50% directly by the government. Currently 22-23% order book is from Maharashtra. Ongoing projects in Hydrocarbon business is progressing well but the new orders from Middle East may slow down due to lower crude prices. But management expects the crude prices will be recovered once the COVID-19 related issue gets over. During the year company has removed orders worth Rs 29000 Cr from order book as the projects are slow moving or facing delay. These orders are from Andhra Pradesh and some building orders. New orders from the Middle East will slow down on account of lower crude prices. Working capital requirement has increased from 18% to 23% of sales as the payment from public sector is not good and company has to extend credit support to their vendors. Working capital will not deteriorate further as the company will spend based on the collection level. Transaction of E&A business was supposed to complete in March-20 but due to COVID-19 it is halted. Once the international travel gets resume, management expect it to close soon. Proceed from sales of E&A business will be utilize to refinance some of the projects (Hyderabad Metro) and for the growth purpose. Company may infuse equity capital into Hyderabad Metro to make project viable after the ridership is impacted due to COVID-19. Company is looking at to monetize Hyderabad Metro through InvIT and pre COVID things were moving in right direction but the COVID has impacted the plan. Company has applied moratorium for the Hyderabad Metro and some of the road projects. The Financial business required capital in every 2-3 years depending on the growth. Company will look out at it in second half on FY21. Financial business is capable to raise capital independently.
SubjectQ4FY20 EARNING CONFERENCE CALL

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