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IRB Infrastructure Developers Limited — Interim / Quarterly Report 2025
Nov 21, 2024
62323_rns_2024-11-21_4abf3a19-da3d-4161-be71-df40034122f0.pdf
Interim / Quarterly Report
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1HIGHWAY TO GROWTHgm3 "EE _%
Corporate Office : 3rd Floor, IRB Complex, Chandivali Farm, Chandivali Village, Andheri (E), Mumbai - 400 072. Tel: 9 1 - 22- 6640 4220 / 4880 4200· Fox: 9 1 - 22 - 2857 3441 e-mail: [email protected] • w irb.co.in CIN: L65910MH1998PLC115967
Date: October 30, 2024
| Corporate Relationship Department BSE Limited Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400 001 Scrip Code: 532947 |
Listing Department National Stock Exchange of India Limited Exchange Plaza, C-1 Block G, Bandra Kurla Complex, Bandra (E), Mumbai 400 051 Symbol: IRB |
|---|---|
Sub.: Outcome of the Meeting of the Board of Directors held on October 30, 2024
Dear Sir / Madam,
Please note that the Board of Directors of the Company (the "Board") at its meeting held today i.e. October 30, 2024, has inter-alia , approved the following:
- Unaudited Consolidated & Standalone Financial Results for the quarter and six months ended September 30, 2024. A copy of the results along with the Limited Review Report is enclosed herewith.
A copy of Corporate Presentation is being made available under Investor Relation section of the website of the Company (www.irb.co.in).
- Declared 2[nd] Interim dividend of Re. 0.10/- per equity share of face value of Re. 1/- each (@ 10% of face value of share) for financial year 2024-25. The record date for the purpose of payment of dividend is Friday, November 8, 2024. The Interim dividend shall be paid within stipulated timelines as prescribed under law.
The Board Meeting commenced at _ pm and concluded at _ pm. 12.30 3.25
You are requested to kindly take note of the same.
For IRB Infrastructure Developers Limited
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Mehulku Digitally signed
mar by Mehulkumar
Natwarlal Patel
Natwarlal Date: 2024.10.30
Patel 15:31:57 +0530
Mehul Patel
Company Secretary
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1SO 9001, ISO 14001,
ISO 45001, ISO 27001
l l 'ergs
00.26
Certifcate Number 23725
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Registered Office:
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1 1 0 1 , Hiranondani Knowledge Park, 1 1 Floor, Technolgy Street, Hill Side Avenue, Opp. Hironondoni Hospital, Powoi, Mumbai - 400 076 Tel: 91-22-6733 6400 / 4053 6400 Fox, 91-22-4053 6699 e-mail: [email protected] www.irb.co.in
Gokhale & Sathe Chartered Accountants 304/308/309, Udyog Mandir No.1, 7-C, Bhagoji Keer Marg, Mahim, Mumbai 400 016. Telephone + 91 (22) 43484242
M S K A & Associates Chartered Accountants 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, India Tel: +91 22 6974 0200
Independent Auditor's Review Report on Consolidated unaudited financial results of IRB Infrastructure Developers Limited for the quarter and year to date pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
To The Board of Directors IRB Infrastructure Developers Limited
-
1 . We have reviewed the accompanying Statement of consolidated unaudited financial results of IRB Infrastructure Developers Limited (hereinafter referred to as 'the Holding Company'), its subsidiaries, (the Holding Company and its subsidiaries together referred to as the 'Group') and its share of the net profit after tax and total comprehensive income of its joint ventures for the quarter ended September 30, 2024 and the year to-date results for the period from April 01, 2024 to September 30, 2024 ('the Statement'), attached herewith, being submitted by the Holding Company pursuant to the requirements of Regulation 33 and Regulation 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ('the Regulations').
-
This Statement, which is the responsibility of the Holding Company's Management and has been approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 'Interim Financial Reporting', prescribed under Section 1 33 of the Companies Act, 2013('the Act'), read with relevant rules issued thereunder ('Ind AS 34') and other recognised accounting principles genera y accepted in India and is in compliance with the Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
-
We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410, 'Review of Interim Financial Information Performed by the Independent Auditor of the Entity' issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
-
We also performed procedures in accordance with the circular issued by the Securities and Exchange Board of India under Regulation 33 (8) of the Regulations, to the extent applicable.
-
This Statement includes the results of the Holding Company and entities states in Annexure 1 .
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Gokhale &t Sathe Chartered Accountants 304/308/309, Udyog Mandir No.1, 7-C, Bhagoji Keer Marg, Mahim, Mumbai 400 016. Telephone+ 91 (22) 43484242
M S K A & Associates Chartered Accountants 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, India Tel: +91 22 6974 0200
-
Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 to 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 and other recognised accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement.
-
We did not review the interim financial information of fifteen subsidiaries included in the Statement, whose interim financial information reflects total assets of Rs. 3,00,610 million (before consolidation adjustments) as at September 30, 2024 and total revenues of Rs. 13,501 million (before consolidation adjustments) and Rs. 29,126 mi ion (before consolidation adjustments), total net profit after tax of Rs. 589 million (before consolidation adjustments) and Rs. 1,600 million (before consolidation adjustments) and total comprehensive income of Rs. 584 million (before consolidation adjustments) and Rs. 1,590 million (before consolidation adjustments), for the quarter ended September 30, 2024 and for the period from April 01 , 2024 to September 30, 2024, respectively, and cash outflows (net} of Rs. 541 million for the period from April 01, 2024 to September 30, 2024, as considered in the Statement. These interim financial information have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries, is based solely on the report of the other auditors and the procedures performed by us as stated in paragraph 3 above.
Our conclusion is not modified in respect of the above matter with respect to our reliance on the work done by and report of the other auditors.
- The Statement includes total assets of Rs. 72,125 million (before consolidation adjustments) as at September 30, 2024 and total revenues of Rs. 4 , 1 1 7 million (before consolidation adjustments) and Rs. 8,466 million (before consolidation adjustments), total net profit after tax of Rs. 349 million (before consolidation adjustments) and Rs. 677 million (before consolidation adjustments) and total comprehensive income of Rs. 350 million (before consolidation adjustments) and Rs. 678 million (before consolidation adjustments) of five subsidiaries for the quarter ended September 30, 2024 and for the period from April 01, 2024 to September 30, 2024, respectively, and cash outflows (net) of Rs. 161 million for the period from April 01 , 2024 to September 30, 2024, as considered in the Statement which has been reviewed by Gokhale 8: Sathe, Chartered Accountants, one of the joint auditors of the Holding Company. The Statement also includes the Group's share of net profit after tax of Rs. 32 million and Rs. 83 million and total comprehensive income of Rs. 32 million and Rs. 83 million for the quarter ended September 30, 2024 and tor the period from April 01, 2024 to September 30, 2024, respectively, as considered in the Statement, in respect of one joint venture, whose interim financial information has been reviewed by Gokhale & Sathe, Chartered Accountants, one of the joint auditors of the Holding Company.
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Gokhale & Sathe Chartered Accountants 304/308/309, Udyog Mandir No.1, 7-C, Bhagoji Keer Marg, Mahim, Mumbai 400 016. Telephone + 91 (22) 43484242
M S K A & Associates Chartered Accountants 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, India Tel: +91 22 6974 0200
- The Statement includes the Group's share of net profit after tax of Rs. 8 million and Rs. 9 million and total comprehensive income of Rs. 8 million and Rs. 9 million for the quarter ended September 30, 2024 and for the period from April 01, 2024 to September 30, 2024, respectively, as considered in the Statement, in respect of one joint venture, whose interim financial information has been reviewed by M S K A & Associates, Chartered Accountants, one of the joint auditors of the Holding Company.
Our conclusion is not modified in respect of the above matter.
For Gokhale & Sathe
Chartered Accountants ICAI Firm Registration No. 103264W .a. Chinmaya Deval
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Membership No.: 148652 , UDIN: 7Z 4 1 L & 4 $ 2 0Im 7 ·2 Mumbai
Date: 30 October 2024
For M S K A & Associates
Chartered Accountants ICAI Firm Registration No.105047W 3a.A4
Siddharth Iyer
Membership No.: 116084 UDIN: 2 % o 8 4 l e Mumbai Date: 30 October 2024
Gokhale & Sathe Chartered Accountants 304/308/309, Udyog Mandir No.1, 7-C, Bhagoji Keer Marg, Mahim, Mumbai 400 016. Telephone + 91 (22) 43484242
M S K A & Associates Chartered Accountants 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, India Tel: +91 22 6974 0200
Annexure 1
List of subsidiaries included in the consolidated audited financial results of IRB Infrastructure Developers Limited.
Sr.
-
Name Of Entity
-
No 1 IRB Ahmedabad Vadodara Super Express Tollway Private Limited 2 Modern Road Makers Private Limited 3 Mhaiskar Infrastructure Private Limited 4 Ideal Road Builders Private Limited 5 IRB Kolhapur Integrated Road Development Company Private Limited 6 IRB Goa Tollway Private Limited 7 ATR Infrastructure Private Limited 8 IRB Sindhudurg Airport Private Limited 9 Aryan Toll Road Private Limited
-
1 0 Aryan Infrastructure Investments Private Limited 11 Thane Ghodbunder Toll Road Private Limited 1 2 IRB MP Expressway Private Limited 13 Aryan Hospitality Private Limited 14 IRB Infrastructure Private Limited 1 5 MRM Mining Private Limited 16 VM7 Expressway Private Limited 17 GE1 Expressway Private Limited 1 8 IRB PS Highway Private Limited 1 9 Pathankot Mandi Highway Private Limited 20 Chittoor Thachur Highway Private Limited
No
Relationship with Holding Company Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary Subsidiary
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Gokhale ft Sathe Chartered Accountants 304/308/309, Udyog Mandir No.1, 7-C, Bhagoji Keer Marg, Mahim, Mumbai 400 016. Telephone + 91 (22) 43484242
M S K A & Associates Chartered Accountants 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E}, Mumbai 400063, India Tel: +91 22 6974 0200
List of joint ventures included in the consolidated unaudited financial results of IRB Infrastructure Developers Limited.
Sr Name Of Entity No 1 MMK Toll Road Private Limited 2 IRB Infrastructure Trust 3 Meerut Budaun Expressway Limited
Relationship with Holding Company Joint Venture Joint Venture Joint Venture
Subsidiaries of IRB Infrastructure Trust AE Tollway Limited 2 Yedeshi Aurangabad Tollway Limited 3 IRB Westcoast Tollway Limited 4 Kaithal Tollway Limited 5 Solapur Yedeshi Tollway Limited 6 CG Tollway Limited 7 Udaipur Tollway Limited 8 Kishangarh Gulabpura Tollway Limited 9 IRB Hapur Moradabad Tollway Limited 10 Palsit Dankuni Tollway Private Limited 1 1 IRB Golconda Expressway Private Limited 1 2 Samakhiyali Tollway Private Limited 13 IRB Lalitpur Tollway Private Limited 14 IRB Kota Tollway Private Limited 1 5 IRB Gwalior Tollway Private Limited
Joint Venture Joint Venture Joint Venture Joint Venture Joint Venture Joint Venture Joint Venture Joint Venture Joint Venture Joint Venture Joint Venture Joint Venture Joint Venture Joint Venture Joint Venture
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Corporate Office :
3rd Floor, IRB Complex, Chandivali Farm, Chandivali Village, Andheri (E), Mumbai - 400 072. Tel: 91 - 22 - 6640 4220 / 4 0 4200· Fax: 91 - 22-2857 3441 e-mail: [email protected]+ w irb.co.in CIN : L6591 OMH l 998PLC1 15967
Part I: Statement of Unaudited Consolidated Financial Results for the quarter and six months ended September 30, 2024
| (s.i millionexcpt eag | (s.i millionexcpt eag | (s.i millionexcpt eag | pershaedat) | |||||
|---|---|---|---|---|---|---|---|---|
| Quarer ended | Six months ended | Year ended | ||||||
| Sr.No.Partculars | 30.09.2024 (Unaudited) |
30.06.2024 (naudited) |
30.09.2023 (Unaudited) |
30.09.2024 (naudited) |
30.09.2023 (Unaudited) |
3103.2024 (Audited) |
||
| 1 | [Income | I | ||||||
| a) Revenuefom operations | 15,858.44 | 18,529.36 |
17,449.97 | 34,387.80 | 33,792.19 | 7408997 |
||
| .b)Other icome | 1657.76 | 1.187.46 |
1.295.09 | 2,84522 |
2,40759 | 7,92763 |
||
| Total Income((a)+(b)) | 17,51620 | 19,71682 |
18,745.06 | 37,233.02 | 36,199.78 | 8201760 |
||
| 2 | Expenses | |||||||
| a) Cost of materia consumed | 589.4 | 1,424.92 |
824.01 | 2014.46 | 1,650.79 | 4,063.28 |
||
| b) Road work ad site expenses | 5,760.76 | 6,194.14 |
6,447.67 | 11,954.90 | 12,562.2 | 28,926.6 |
||
| c)Employee benefts expense | 1,074.88 | 1,007.34 |
1,080.35 | 208222 | 1,917.06 | 3,940.25 |
||
| d) Finac costs | 434207 | 4,387.15 |
4,345.84 | 8,72922 | 8,60.7 | 18,633.15 |
||
| e)Depreciation ad aorsation expene | 2,312.04 | 2550.10 |
2,326.94 | 4,862.14 | 4,694.1 | 9,949.9 |
||
| fOterexpenses | 765.78 | 1,33282 |
1,151.66 | 2,09860 | 1,93753 | 3,84209 |
||
| Total Expenses((2a)to (20 | 14,845.07 | 16,896.47 | 16,176.47 | 30,922.44 | 69,354.72 |
|||
| 3 | Proft befretaxand share of proft/ | 2,6711 | 2,82035 |
2,568.59 | 5,491.48 | 5,277.4 | 12,66288 |
|
| (loss) of joint ventures(1)- (2) | ||||||||
| 4 | (Loss)fom JitVentes(net) | (837.4) | (533.84) | (52.91) | (1,371.08) | (1,28792) | (3,148.50) |
|
| 5 | Proftbefre tax(3)+(4) | 1,833.89 | 2,28651 | 1,815.68 | 4,120.40 | 3,989.42 | 9,514.38 | |
| 6 | Taxexpenses | |||||||
| Curentta | 509.77 | 499.13 | 506.57 | 1,008.90 | 924.03 | 1,840.13 | ||
| Defredta | 32.43 | 387.4 | 35164 | 72.97 | 770.24 | 1,616.09 |
||
| Total tax expenses | 835.20 | 886.67 | 858.21 | 1,721.87 | 1,69427 | 3,456.22 | ||
| 7 | Net Proft after tax (5)-(6) | 998.69 | 1,399.84 | 95747 | 2398.53 | 2,295.15 | 6,058.16 | |
| 8 | Other comprehensive income/ (oss): | |||||||
| A.Items that will not be reclassifed to | ||||||||
| statement of proft and loss insubsequent | ||||||||
| period / year | ||||||||
| Mato maket gai / (loss) on firvaue | (25308) | (13628) | (42.64) | (389.6) | 329.1 | 55.62 | ||
| meauremetof ivestents (net ofta) | ||||||||
| Re-mesuementof gai / (loss) ondefned | (725) | (8.05) | (15.30) | 1.26 | (3153) | |||
| beneftplas (net ofta) | ||||||||
| B. Items that will be reclassifedto |
||||||||
| statement of proft and loss in subseuent | ||||||||
| period / year | ||||||||
| Efctveporionofgain / (loss) on cahfow | 9717 | 154.3 | 1,125.80 | (69161) | ||||
| hdge(netofta) | ||||||||
| Othercomprehensive income / (loss)for | 7 04 | 1.1 | (35.70) | 721.14 | 34236 | (66752) | ||
| teperiod / year, net of tax (A+B) | ||||||||
| 9 | lotl comprehensive income fr the | 1,709.7 | 1,409.94 | 921.77 | 3,119.67 | 2,637.51 | 5,390.64 | |
| period /year(7)+(8) | ||||||||
| Atibutble to: | ||||||||
| Equit holders | 1,709.73 | 1,409.94 | 921.77 | 3,19.67 | 2,63751 | 5390.64 | ||
| Non-contolngiterest | ||||||||
| 10 | {ad-upequt shae capital (fce value | 6,03900 | 6,039.00 | 6,039.00 | 6,039.00 | 6,039.00 | 6,039.00 | |
| Re.lpershae) | ||||||||
| 1 | Otherequit | 1,31,406.05 | ||||||
| 12 | {angsper shae (of Re.1 each) baicad | 0.17 | 0.23* | 0.16* | 0.0* | 0.38 | 1.00 | |
| dluted - (s.)(not anuaise) |
See accompanying notes to the unaudited consolidated financial results
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ISO 45001, ISO 27001
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0026
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Certifcate Number 23725
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Registered Office:
1 1 0 1 , Hiranandani Knowledge P Opp. Hiranandani Hospital, Powai Tel: 91-22-6733 6400 / 4053 64
e-mail: [email protected] www.irb.
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ISO 9001, ISO 14001,
13r I ISO 45001, ISO 27001
ISOQAR U K A S
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HIGHWAY TO GRowr EE: 2l @[ C "SMEE",
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Certifcate Number 23725
Part- II: Unaudited Consolidated Balance Sheet as at September 30, 2024
| Par-I:Unaudited Consoldated Balance Sheet as at September 30, 2024 | ||
|---|---|---|
| (Rin Mllion) | ||
| As at | Aat | |
| Pariculars | 3009.2024 | 31.03.2024 |
| (Unaudited) | (Audited) | |
| ASSETS | ||
| Non-current asset | ||
| Proper, plant ad equipment | 9,608.66 | 9,106.98 |
| Capitl work in prgress | 140.04 | 76.46 |
| Right to use a et | 18.1 | 36.32 |
| Goodwil on consolidation | 7.04 | 78.04 |
| Oter Intgible a ets | 2,41,35530 | 2,45,91626 |
| Finacal a ets | ||
| i) Ivestment | ||
| a. investent in joint-ventures | 86,335.79 | 87,561.20 |
| b.oter ivestment | 5,75.85 | 620887 |
| ii) Other fnancial a et | 57,817.44 | 51,307.89 |
| Deferedta ets | 587.91 | 507.7 |
| Other non-urent a ets | 8.09 | 9.03 |
| Totl non-current assets (A) | 4,01,73523 | 4,00808.83 |
| Current asset | ||
| Inventorie | 3,29652 | 2,930 89 |
| Finacial asset | ||
| i) Investent | 7.07 | 2,650.0 |
| ii) Trade receivables | 6,31704 | 7,586.13 |
| i) Cahadch equivalent | 1,39932 | 2,326.73 |
| iv) Ban balaces other than (iii) above | 15,57.5 | 15,29931 |
| v)Loans | 702.3 | 772.53 |
| vi) Other fnacial assets | 6,247.3 | 5,809.97 |
| Curenttaa et (net) | 649.65 | 542.93 |
| Other curent a et | 12288.45 | 10,47552 |
| Total current asset(B) | 46,48616 | 48,394.31 |
| TOTAL ASSETS(AB) | 448,221.39 | 4,49,203.14 |
| EQUTY A LIBILTES | ||
| Equit | ||
| Euit share capital | 6,039.00 | 6,039.00 |
| Other equit | 1,33,317.92 | 1,31,40605 |
| Total equit (A) | 139,35692 | 1,37,44505 |
| Labite | ||
| Non-currnt liabilitie | ||
| Financal labities | ||
| i) Borowings | 1,70,520.17 | 1,68,54278 |
| ii) Other fnacial labiities | 97,896.06 | 1,01,52534 |
| Prvisions | 85.50 | 5860 |
| Defred ta liabilities | 3,704.63 | 2 538.30 |
| Total Non-current liabilities () | 2,72,20636 | 2,72,665.02 |
| Current labitie | ||
| Financial liabiities | ||
| i) Borowngs | 17,842.20 | 17,947.19 |
| ii) Leae liabilities | 20.7 | 43.88 |
| iii) Trade payables | ||
| a.totl outtnding dues of micr cntcrriscs ad smaenterrises | 228.25 | 46867 |
| b.totl outtadingdues of creditors othertan micrenterrises and smal enterrises | 5,233.78 | 6,288.73 |
| iv) Other fnancialliabilities | 10,058.65 | 10,21633 |
| Othercurent liabilties | 2,504.8 | 3,286.07 |
| Prvision | 474.0 | 839.05 |
| Cuenttliabilities (net) | 296.25 | 3.15 |
| Total Current liabilitie(C) | 36658.11 | 39,093.07 |
| TOTA LIBIIIES (B+C | 3,08,86447 | 3,11,75809 |
| TOTA EQUTY AN LIBILIIS (AD) | 4,48,221.39 | 4,49,203.14 |
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g[RI 1 - 'iNFRASlifif"e1uRfosveH»Eifs""Im �� HIGHWAY TO GRow1 2,
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ISO 9001, ISO 14001, ISO 45001, ISO 27001
Certifcate Number 23725
Part I - Unaudited Consolidated Statement of cash flows for the six months ended September 30, 2024
| (R.iMon | |||
|---|---|---|---|
| Six months ended | Six months ended | ||
| Paricular | 30.09.2024 | 30.09.2023 | |
| (Unaudited) | (nted) | ||
| Cash fows from operating actvities | |||
| Proft before tax | 4120.40 | 3,98942 | |
| Adjustents to reconcile befre tax to net cash fows: | |||
| Depreciaon ad amorsaton | 4,86214 | 4,694.13 | |
| Resurcig expenses | 388.65 | 13391 | |
| Cosof cahfowhedge | 614.93 | ||
| Net loss/gain) on sale of proper, plat ad equipment | (5.05) | ||
| Net loss/(gan) oncuent investentat farvaluetougsttementofPrftad | 8.31 | (1.76) | |
| (Ga) onfavauemeasurement of oterreceivables | (1,227.70) | (1,17932) | |
| Shae oflossfomjointventres(net) | 1,371.08 | 1,28792 | |
| Net (gain)onsaleof curentivestent | (314) | (10140) | |
| Prvsion no longerrequirdwten back | (057) | ||
| Fiacecost | 8,729.22 | 8,16072 | |
| Iterest income | (1,44959) | (1,045.30) | |
| Iterest incomeon unwidingofloa | (24.2) | (24.42) | |
| Divdendincome on investent | (547) | ||
| Operating proft befre working capital change | 17,30697 | 15,908.28 | |
| Changein working capitl | |||
| (Decrease)itdepayables | (1,295.33) | (910.64) | |
| (Decree) / Icrae in provisions | (747.50) | 205 | |
| (ecrease) / Increaeioter facia labiltes | (35648) | 400.06 | |
| (ecree)/Icreaeioter liabilites | (7817) | 27.63 | |
| Decreaeitadereceivables | 1,269.09 | 9,037.77 | |
| (Icreae)iiventores | (365.63) | (38189) | |
| (creae)/Decreaeinloans | (33.28) | 5.98 | |
| (creae)inoter fnacial asset | (4,512.72) | (4,734.68) | |
| ([crease) / Decreae i other a et | (1,812.93) | 251.00 | |
| Cash generated from operations | 8,67062 | 19,870.56 | |
| Taespad (nct) | (822.58) | {797.49) | |
| Net cash fows generated fom operating activitie | LA} | 7,848.04 | 19,073.07 |
| Cashfowsfominvesting activities | |||
| Additon to intagibleassetsincudig intagible assets underdevelopment and capitl | (345.06) | (1,141.13) | |
| advaces | |||
| Puchae of proper, plant ad equipment | (849.68) | (141.62) | |
| Proceed fomsale ofproper,platad equipment | 3.10 | 105.15 | |
| Proceed/redemptons fomsaleofnon-cuentinvestents | 539.11 | 55.62 | |
| Ivestentijoint ventre | (65140) | (30,82432) | |
| La gven to joit ventres | (2,201.65) | (539.51) | |
| Loa repaid by joit ventres | 2,30523 | 966.08 | |
| Proceeds fom (urchase)/sale of cuent ivestent (net) | 2,6 25 | 1,87520 | |
| (Ivestent in) / Proceeds fommattof badeposit | (27996) | 4,559,42 | |
| (vgorgnamattofmoreta tee months)(net) | |||
| Iresreceived | 1,317.79 | 1,044.28 | |
| Divdendreceived | 54.7 | ||
| Necashfows generated from / (used in) inveting activitie | (B) | 2,558.44 | (24,040.83) |
| Cashfows from fnancing activitie | |||
| Prceed fom non-curentborowngs | 4,73028 | 15,875.50 | |
| Repayent of non-cnverble debents | (547.41) | (2,579.36) | |
| Repayentofnan-curent borowngs | (5,46993) | (4,235.94) | |
| (epayent)/proceeds of cuent borowigs (net) | (1,301.56) | 1,254.73 | |
| Payent of laeliabilite | (25.00) | (23.81) | |
| Fiac costpad | (7,512.47) | (6,649.58) | |
| Divdendpaid onequitshares | (1,207.80) | (452.93) | |
| Net cashfows (use in) / generated from fnancing activitie | (C | (11, .89) | 3,188.61 |
| Net(decrease) / increase in cshandcsh equivalents(A+B+) | (927.41) | (1,779.15) | |
| Cahadcashequivalntattebegingofteperod | 2,326.73 | 3,005.60 | |
| Cash and cash equivalent at the ed of the period | 1,99.32 | 1,226.45 | |
| Components of cash and cash equivalent | |||
| Balaceswitscheduledbas: | |||
| -Trstretentonand otherescrwaccout | 30.84 | 109.83 | |
| - Cuent accounts | 1,11 15 | 970.26 | |
| - Idepositaccounts wthorgnalmatrtlesta3monts | 146.79 | 38.87 | |
| Cahon hand | 110.4 | 10749 | |
| Totl cash and cash equivalent | 1.399.32 | 1.226.45 |
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II3I 2 ° piiFRll!liUCTil .. �Llii -;.�: I� • :;J.f/;.tj, HIGHWAY TO GROWTH " [@y 5Xf~ 0026
ISO 9001, ISO 14001, ISO 45001, ISO 27001
Certifcate Number 23725
Part IV: Report on Unaudited Consolidated Segment Revenue, Segment Results and Capital Employed for the quarter and six months ended September 30, 2024
| (Rs in milon) | ||||||||
|---|---|---|---|---|---|---|---|---|
| Quarer ended | Six months | ended | Year ended | |||||
| Partculars | 30.092024 | 30.06.2024 | 30.09.2023 | 30.09.2024 | 30.09.2023 | 31.03.2024 | ||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |||
| I.Seet Revee | i | |||||||
| aBOT'TOTPrjecs b.Conscon cUnocatecorre Totl |
5,81100 9,99978 47.66 15,858.44 |
6,139.38 12,339 78 50.20 18,529.36 |
5,673.06 11,71467 6224 174499] |
11,95038 22,339.56 97.86 34,387.80 |
11,528.96 22,14218 121.05 33,792.19 |
23,87701 50,00694 20602 74089.97 |
||
| Le:Intersget rvenue | - | - | . | - | . | |||
| RevenuefromOpertons | I | 15,858.44 | 18,529.36 | 17,449.97 | 34,38780 | 33,792.19 | 74,089.97 | |
| 2.SementRelt aBOT/TO Proects b.Contcton •Unaocatedc r Totl Les Inters Oteun-aocaleincomentofun-aocle epndtu |
I |
2891.53 2,528 58 (52.76) 5,36735 (4,34207) 1,645 85 |
2,92997 3,556.16 (36 66) 6,449.47 (438715) 758.03 |
2,793 5 1 3,353 84 (34.92} 6,112.43 (4,345 84) 80200 |
5,82150 6084.74 (89.2) 11,816.82 (8,72922)- 2,403 88 |
5,748 02 6,15788 (76,07) 11,829.83 (816071) 1,608 22 |
11,707.11 13,012.01 (193.67) 24,52545 (18633.15) 6,77058 |
|
| (ss) fromJointVentur(net) | (837 24) | (533 84) | (752.91) | (1,371 08) | (l,287 92) | (3,148 50) | ||
| 3. Proft befortax | 1,833.89 | 2,286.51 | 1,815.68 | 4,12040 | 3,98942 | 9,514.38 | ||
| Segment Aet | ||||||||
| aBOT/TOTProjets | 2,31,353 03 | 2,33,433.07 | 2,40,933.26 | 2,31,353 03 | 2,40,933.26 | 2,35,997 37 | ||
| b.Constrcton | 95,053.91 | 91,735 19 | 92,059.77 | 95,053.91 | 92,059.77 | 87,78224 | ||
| c.Unaocaedco e |
1,21,81445 | 1,25,742.99 | 1,0832496 | 1,21,81445 | 1,08,32496 | 1,25,423.53 | ||
| Totl0A) | 4,48,221.39 | 4,50,911.25 | 4,41,317.99 | 4,4,221.39 | 4,41,317.99 | 4,49,203.14 | ||
| SementLibilitie | ||||||||
| a.BOT'TOTPrjects | 1,0,169 33 | 1,05,71280 | 1,09,713 53 | 1,04,169 33 | 1,09,713 53 | 1,07,360.99 | ||
| b.Consction | 12,270.0 | 13,625.20 | 12,615.71 | 12,270.50 | 12,615.71 | 15,297.90 | ||
| c Unalloctdcrorte | 1,92,424 64 | 1,93,322.16 | 1,83,058 28 | 1,92,424.64 | 1,83,05828 | 1,89,09920 | ||
| Totl(B) | 3,08,864.47 | 3,12,660.16 | 3,05,87.52 | 3,08,864.47 | 3,05387.52 | 3,11,7580 | ||
| Totl(4)-(B) | 1,39356.92 | 1,8,251.09 | 1,5,930.47 | 1,39,356.92 | 1,5,930.47 | 1,37445.0 |
a) The Segment reporting of the Group has been prepared in accordance with Indian Accounting Standard I08 "Operating Segment" (Ind AS 108)
b) The business segments of the Group and its joint ventures comprise of the following:
| Segment | Decrpton of Actvit |
|---|---|
| BOT/ TOT Projects | Opeaton admantenaceofrads |
| Constcton | Developmentad mtenace of rads |
c) Pursuant to Regulation 33 and Regulation 52 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015, the Company has opted to publish only the consolidated segments
[RB Infrastructure Developers Limited (the Company') and its subsidiaries (together, the Group) have identified business segments in accordance with Indian Accounting Standard 108 "Operating Segment" notified under section 133 of the Companies Act 2013, read together with relevant rules issued thereunder Accordingly, the Group has identified two busine segments viz, Built, Operate and Transfer ('BOT')/ Toll, Operate and Transfer ('TOT) i.e. Operation and maintenance of roads and Construction ic Development and maintenance of roads as reportable segments
d) With the regulatory changes/ relaxations brought in by regulators, relating to operations of Infrastructure Investment Trust (lnv!Ts), coupled with changes in business
environments and emerging business opportunities, the group is in the process of examining its business segments of investments in lnv!Ts and other related assets/business The
financial reporting impact, if any, will be a essed and disclosed.
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cd ISO 9001, ISO 14001, 0 1SO 45001, ISO 27001 HIGHWAY TO GROWTHRR 2 "Ea: @ MANAGEMENT UKAS SYSTEMS 0026
Certifcate Number 23725
NOTES:
Consolidation Reporting:
-
Investors can view the results of the Group and its joint ventures on the Company's website (www.irb.coin) or on the websites of BSE (www,bscindiacom) or NSE (www.nseindia.com}.
-
2.The above published unaudited consolidated financial results have been prepared in accordance with the recognition and measurement principles of Ind AS notified under the Companies ([ndian Accounting Standards) Rules, 2015.
-
In a ordance with Regulation 33 and Regulation 52 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, the Joint Statutory Auditors of the Company have carried out limited review of the above unaudited results
4 The unaudited results for the quarter ended and six months ended September 30, 2024 have been reviewed by the Audit Committee at their meeting held on October 30, 2024 and
thereafter approved by the Board of Directors at their meeting held on October 30, 2024. The joint statutory auditors have expressed an unqualified review opinion.
5.The Company has maintained requisite security cover of outstanding Principal and interest accrued by way of floating charge on book debts and other unencumbered assets of the Company on its listed Secured Non-Convertible Debentures as at September 30, 2024 which is more than the requisite coverage of 1.25 times as applicable.
-
6.The Board of Directors at its meeting held on October 30, 2024 has declared interim dividend of Re. 0.10 per equity share of face value of Re, l/- each,
-
Key numbers of standalone financial results of the Company for the quarter and six months cndcd September 30, 2024 are as under:
| 7. Key nubers of stadaone fncia resu | lt of te Compay fr te q | uaer adsimonts cn | dcd September 30, 2024 | aeaunder | ||
|---|---|---|---|---|---|---|
| (.in milion) | ||||||
| Quarer ended | Sixmonths | ended | Yearended | |||
| Paricular | 30.09.2024 | 30.06.2024 | 30.09.2023 | 3009.2024 | 30.09.2023 | 31.032024 |
| (Unaudite) | (naudited) | (naudited) | (Unaudite) | (naudited) | (Audited) | |
| Revenue fom operations | 9,937.45 | 12544.08 | (1.138.67 | 22481.53 | 20.598.04 | 48,260.29 |
| Proftfrtheperiod /year befreta | 2,00236 | 1,61492 | 1,71706 | 3,61728 | 3,040.04 | 9,037.56 |
| NetPrftfrtheperodyeaaerta | 1,598.90 | 1,418.41 | 1,29736 | 3,017.31 | 2,397.84 | 7,623.89 |
- Additional disclosures as per Clause 52(4) and Clause 54 of Securities and Exchange Board Of India (Listing Obligations and Disclosures Requirements) Regulations, 2015:
| 2015: | ||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Partcular | Quarter ended | Sixmonthsende | Year ended | |||||||||||
| 30.09.2024 | 30.06.2024 | 30.09.2023 | 30.09.2024 | 30.09.2023 | 3103.2024 | |||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audie) | |||||||||
| I | ||||||||||||||
| IDebt - Equitrato(refr notea) | 103:1 | 106:I | 105:I | 103:I | 1 . 0 5:1 | 1 . 0 6 : 1 | ||||||||
| 2.Adjused Debt - Equit rao (refr note b) | 0.86:1 | 0.8 8:1 | 0 . 8 7 : L | 0.8 6 : 1 | 0.87:1 | 0.87:1 | ||||||||
| 3.Iterest cveragerato (no.oftes} | 275 | 2.81 | 2.65 | 2.78 | 2.76 | 2.61 | ||||||||
| (refrnote c) | I | |||||||||||||
| 4. Cuentrato (in tmes)(refer note d) | 1.27 | 123 | 082 | 127 | 0.82 | 124 | ||||||||
| 5.AdjustedCurentrato(itmes} | 2.47 | 2.48 | 3.01 | 2.7 | 3.01 | 2.29 | ||||||||
| (refr note e) | I | |||||||||||||
| 6.Long ter debt to workg cpita | 6.00 | 6 12 | 5.91 | 6.00 | 5.91 | 6.53 | ||||||||
| (refr notef | ||||||||||||||
| 7.Adjusted Long ter debt to workg cpita | 5.00 | 4.84 | 3 5 1 | 5.00 | 3.51 | 5.12 | ||||||||
| (refr noteg) | ||||||||||||||
| 8.Cuentliabilitrato(i%} (refrnoteh) | 12% | 13% | 22% | 12% | 22% | 13% | ||||||||
| 9. AdjustedCurent liabilit raio (in %) | 6% | 6% | 6% | 6% | 6% | 7% | ||||||||
| (reff note i) | ||||||||||||||
| 10. Totdebts to tota etrato(itmes) | 0.32 | 0.33 | 0.32 | 0.32 | 0.32 | 0.2 | ||||||||
| (refr notej) | ||||||||||||||
| 11. Debtor tover rato (refr note k) | 4.57 | 5.36 | 3.81I | 5.36 | [ | 3.52 | 4.02 | I | ||||||
| 12. Inventor tover raio (refr note I) | 0.73 | 189 | 0.98 | l29I | 104 | 1.37 | ||||||||
| 13. Operatig magin(i %) (refr note m) | 48% | 46% | 46% | 47% | 47% | 45% | ||||||||
| 14. Net proft magin (i %) (rfr note n) | 6%] | 8% | 5% | 7% | 7% | 8% | ||||||||
| 15.Outtdigredeable prefrence shaes | Nil | Nil | Ni | Nil | Nil | Nil | ||||||||
| 16.Capita redepton resere | Ni | Nil | Ni | Nl | . . | Nil | Nil | |||||||
| 17.Debente redemptonreere | Nil | Nil | Ni | Ni | Ni | Nil | ||||||||
| 18. Netorh(s.inMlion) (refr note o) | 1,39,35692 | 1,38251.09 | 1,35,93047 | 1,39356.92 | 1,35,930.47 | 1,37,445.05 | ||||||||
| 19.Net proftaer ta(.in Milion) | 998.69 | 1,399.84 | 957.7 | 2,398.53 | 2,295.15 | 6,058 16 | ||||||||
| 20. Eag per shae baic ad dilute (not auaiseexceptyeendedMach 31, 2024) |
Re. 0.17 | Re. 0.23 | Re.0.16 | Re.0.40 | Re 0.38 | Re | 1.00 | |||||||
| I | ||||||||||||||
| 21 Debt SerceCovereRatio(DSCR} | 11 | 1.14 | 1.98 | 13 | 205 | 1.98 | ||||||||
| (no of tmes) (refr note p) | ||||||||||||||
| 22.Bad debtstoacounts receivable(in%) | Ni | Nil | Nil | Nil | Nil | Nil | ||||||||
| (ad Debt / Average Trade Recivable) |
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ISO 9001, ISO 14001, ISO 45001, ISO 27001
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11I3 2
HIGHWAY TO GROWTH"EE:
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Certifcate Number 23725
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Note:
a Debt - Equity ratio: Total Debt (excluding deferred premium obligation) divided by Equity
- b.Adjusted Debt - Equity ratio : Total Debt (excluding deferred premium obligation) - Cash and Bank Balances - Fixed Deposits - Liquid Investments - investment in IRB Invit Fund divided by Equity
c.Interest coverage ratio (no. of times) : Profit before interest and depreciation and amortisation expenses divided by interest expense (net of moratorium interest, interest cost on unwinding and amortisation of transaction cost)
d.Current ratio (in limes) : Current Assets I Current liabilities
-
e Adjusted Current ratio (in times): Cunrent Assets I Current liabilities excluding Current borrowings
-
f.Long term debt to working capital : Non-current borrowings + Current maturities of Long tenn borrowings divided by net working capital
-
g.Adjusted Long term debt to working capital : Non-current borrowings + Current maturities of Long term borrowings divided by net working capital excluding Current borrowings h.Current liability ratio (in %) : Current liabilities / Total liabilities
-
i.Adjusted Current liability ratio (in %) : Current liabilities excluding current Borrowings/ Total liabilities
j.Total debts to total a ts ratio ( in times) : (Short tenn debt+ Long term debt) divided by Total a
k.Debtor turnover ratio: Revenue from operation/ Average (Trade receivable and contract a ets) No. of days
-
L.Inventory tumover ratio : Cost of material consumed I Average Inventory No. of days
-
m. Operating margin (in %): profit before interest, tax. depreciation and exceptional item less Other income divided by Revenue from operation n Net profit margin (in %) : profit after tax / Revenue from operation
o.Networth (Rs. in million) as per section 2(57) of the Companies Act, 2013
p.Debt Service Coverage Ratio (DSCR) (no. of times) : Profit before interest and exceptional item divided by Interest expense (net of moratorium interest and amortisation of transaction cost) together with repayments of long term debt during the period (netted off to the extent of long term loans availed during the same period for the repayment)
For IRB Infrastructure Developers Limited Virendra D. Mhaiskar Chairman and Managing Director Place: Mumbai Date: October 30, 2024
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Gokhale & Sathe Chartered Accountants 304/308/309, Udyog Mandir No.1, 7-C, Bhagoji Keer Marg, Mahim, Mumbai 400 016. Telephone + 91 (22) 43484242
M S K A & Associates Chartered Accountants 602, Floor 6, Raheja Titanium Western Express Highway, Geetanjali Railway Colony, Ram Nagar, Goregaon (E), Mumbai 400063, India Tel: +91 22 6974 0200
Independent Auditor's Review Report on Standalone unaudited financial results of IRB Infrastructure Developers Limited for the quarter and year to date pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.
To The Board of Directors of IRB Infrastructure Developers Limited
-
1 . We have reviewed the accompanying Statement of standalone unaudited financial results of IRB Infrastructure Developers (hereinafter referred to as 'the Company') for the quarter ended September 30, 2024, and the year to-date results for the period from April 01, 2024 to September 30, 2024 ('the Statement') attached herewith, being submitted by the Company pursuant to the requirements of Regulation 33 and Regulation 52 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended ('the Regulations').
-
This Statement, which is the responsibility of Company's Management and has been approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian Accounting Standard 34 'Interim Financial Reporting', prescribed under Section 133 of the Companies Act, 2013('the Act'), read with relevant rules issued thereunder ('Ind AS 34'), and other recognised accounting principles generally accepted in India, and is in compliance with the Regulations. Our responsibility is to express a conclusion on the Statement based on our review.
-
We conducted our review of the Statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interim Financial Information Performed by the Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Act and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.
-
Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement prepared in accordance with the recognition and measurement principles laid down in Ind AS 34 and other recognised accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Regulations including the manner in which it is to be disclosed, or that it contains any material misstatement.
For Gokhale & Sathe
Chartered Accountants ICAI Firm Registration No.103264W G2 Chinmaya Deval MeUDIN: mbershi2 4 1 4 8 G S p N o . : 148652, &@k % Mumbai
Date: 30 October 2024
For M S K A Associates Chartered Accountants ICAI Firm Registration No. 105047W
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Siddharth Iyer
Membership No.: 116084 UDIN:2411 60 &'Cap L Mumbai
Date: 30 October 2024
Corporate Office : 3rd Floor, IRB Complex, Chandivali Farm, Chandivali Village, Andheri (E), Mumbai - 400 072. Tel: 9 1 - 2 2 -6640 4220 / 4 0 4200· Fox 9 1 - 22-2857 3441 e-mail: [email protected] www.irb.co.in CIN : L6591 OMH 1998P\C115967
1. HIGHWAY TO GROWTH"E 2
Part - I: Statement of Unaudited Standalone Financial Results for the quarter and six months ended September 30, 2024
| (Rs. in milon except earings per share data) | (Rs. in milon except earings per share data) | (Rs. in milon except earings per share data) | ||||||
|---|---|---|---|---|---|---|---|---|
| Pariulars | Quarer ended | Six monthsended | Year ended | |||||
| 30.09.2024 | 30.06.2024 | 3009.2023 | 30.09.2024 | 30.09.2023 | 31.03.2024 | |||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | |||
| 1 | Income | |||||||
| (a) Revenue fom operations | 9,937.5 | 12,54408 | 11,138.67 | 2248153 | 20,59804 | 48,260.29 | ||
| 2 | (b) Oter income Total income ((a)+(b)) Expenses |
| 2,564.09 12,501.54 |
2,056.06 14,600.14 |
1,450.05 12,588.72 |
4,620.15 27,101.68 |
3,032.22 23,63026[ |
10,246.76 58.507.05 |
|
| (a) Contrac and site expense | ! | 8,614.84 | 1,960.29 | 9,215.29 | 19,575.13 | 17,627.95 | 40,73.8 | |
| (b)Employeebeneftsexpense | 18322 | 204.05 | 234.60 | 387.27 | 382.78 | 836.7 | ||
| (c) Financecosts | 1,299.7 | 1,37.19 | 1,243.88 | 2,670.96 | 2,239.45 | 7,073.00 | ||
| (d)Oher expenses | 4015 | 449.69 | 17.89 | 85104 | 340.04 | 836.24 | ||
| Total expenses ((2a)to(2d)) | 10,499.18 | 12,985.22 | 10,871.66 | 23,48440 | 20,590.22 | 49,469.49 | ||
| 3 | Proft before tax (1)-(2) | 2,002.36 | 1,614.92 | 1,717.06 | 3,617.28 | 3,04004 | 9,037.56 | |
| 4 | Taxexpenses | |||||||
| Current tax | 140.00 | 54.90 | 289.72 | 194.90 | 41132 | 658.00 | ||
| Deferred tax | 263.6 | 141.61 | 129.98 | 405.07 | 23088 | 755.67 | ||
| TotalTaxexpenses | 403.46 | 196.51 | 419.70 | 599.97 | 62.20 | 1,413.67 | ||
| 5 | Net Proft afer tax (3) - (4) | 1,598.90 | 1,418.41 | 1,297.36 | 3,017.31 | 2,397.84 | 7,623.89 | |
| 6 | Othercomprehensive income | |||||||
| A.Item thatwinot be recassied tostatement of | ||||||||
| proft and lossinsubsequent period/year: | ||||||||
| - Marktomaret gain/(loss) on firvlue | (253.08) | (136.28) | (4265) | (389.36) | 329.10 | 55.62 | ||
| measurement of investments(netoftax) | ||||||||
| - Re-measurement gain/(loss)ondefnedbeneft | (3.17) | (3.18) | 160 | (6.35) | 3.20 | (1159) | ||
| plans (netoftax) | ||||||||
| B. Itemthatwibe recassifed to statement ofproft | ||||||||
| and lossinsubsequent period/year : | ||||||||
| - Efecive porion of gain/(loss) onCash fow hedge | ||||||||
| (net of tax) | 97137 | 154.43 | - | 1125.80 | - | (69161) | ||
| OtherComprehensiveIncomefrthe period/year, | 715.12 | 14.97 | (41.05) | 730.09 | 332.30 | (647.58) | ||
| net oftax (A+B) | ||||||||
| 7 | TotalComprehensive Incomefr theperiod/ year | 2,31402 | 1,433.38 | 1,256.31 | 3,747.40 | 2,730.14 | 6,976.31 | |
| (5) + (6) | ||||||||
| 8 | Paid-upequitsharecapital | 6,03900 | 6,039.00 | 6,039.00 | 6,039.00 | 6,039.00 | 6,039.00 | |
| (face value - Re.1 per share) | ||||||||
| 9 | Other equity | 88,803.63 | ||||||
| 10 | Earings per share(ofRe.1each)Basic anddiuted (Rs.) (not annualised) |
0.27 | 0.23 | 0.21 | 0.50 | 0.40 | 126 | |
| Seeaccompanyingnotes to the unaudited standalonefnancial | results. |
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. @ ' ISO 9001, ISO 14001,
UKAS ISO 45001, ISO 27001
7 1"RE"
0026
Certifcate Number 23725
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Registered Office:
1 1 0 1 , Hiranandani Knowledge Park, 1 1 Floor, Technolgy Str t, Hill Side Avenue, Opp. Hiranandani Hospital, Powai, Mumbai - 400 076 Tel: 91-22-6733 6400 / 4053 6400 Fax: 91-22-4053 6699 e-mail: [email protected] www.irb.co.in
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IRE 2
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ISO 9001, ISO 14001, ISO 45001, ISO 27001
Certifcate Number 23725
Part - II: Standalone Statement of Assets and Liabilities as at September 30, 2024
| (Rs.inmillion) | ||
|---|---|---|
| Pariculars | As at | Aat |
| 30.09.2024 | 31.03.2024 | |
| (Unaudited) | (Audited) | |
| ASSES | ||
| Non-current assets | ||
| Financial assets | ||
| i) Investments |
||
| a) investment in subsidiaries and joint-ventures | 1,29,584.83 | 1,29,079.86 |
| b)other investments | 5,785.00 | 6,208.02 |
| ii) Loans |
11,824.74 | 11,824.74 |
| i) Other fnancial assets |
40,439.77 | 37,600.49 |
| Total non-urrent assets (A) | 1,87,63434 | 1,84,713.11 |
| Current assets | ||
| Financial assets i Investments i) Trade receivables iii) Cash and cash equivalents iv) Bank balance other than(i)above v) Loans vi) Other fnancial assets Current tax asset (net) oher current asset |
- 6,29296 799.5 1,597.69 1,0310 1,164.9 607.1 8,45274 |
2,41210 7,783.61 1,025.11 1,434.9 788.83 1,17.07 428.04 7,70.93 |
| Total current assts (B) | 31,945.94 | 34,710.18 |
| TTAL ASSES (A+B) | 219,580.28 | 2,19,423.29 |
| EQUIT AND LABILES | ||
| Equity | ||
| Equity share capital | 6,039.00 | 6,039.00 |
| oher equity | 91,343.23 | 88,803.63 |
| Total equity (A) | 97,382.23 | 94,842.63 |
| Non-current liabities | ||
| Financal labities | ||
| i) Borrowings i) Other fnancial labities |
50,804.27 - |
52,157.80 62158 |
| Provisions Deferred tax liability (net) |
27.16 2,125.44 |
14.90 1343.87 |
| Total non-current labilities (B) | 52,956.87 | 54,138.15 |
| Current labities | ||
| Financial liabilities ) Borrowings |
39,64114 | 41096.67 |
| i) Trade payables |
||
| a) total outstanding dues of miro enterprises and | 1.30 | 1.23 |
| smal enterprises b) total outstanding dues of creditors other than |
19,228.12 | 19,37.87 |
| micr enterprises i) Other fnancal liabilities |
9,417.0 | 8,81983 |
| Uther current liabilites | 933.3/ | 1,128.U |
| Prvisions Total current liabilities (C) Totalliabilites (D=B+C) |
19.85 69,241.18 122,19805 |
18.61I 70,42.51 1,24580.66 |
| 'OTAL EQUIT AND LIABILITIES (A+D) | 2,19,580.28 | 2,19,423.29 |
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11I3 1\ERASED et0REDE#eSl t =ease wn cwt; 2, 7 , HIGHWAY TO GROWTH"E:
ISO 9001, ISO 14001, ISO 45001, ISO 27001
0026
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IRB Infrastructure Developers Limited
Certifcate Number 23725
Part - Ill: Unaudited Standalone Statement of Cash flows for the six months ended September 30, 2024
| (Rsinmillion) | |||||
|---|---|---|---|---|---|
| Paricular | Six months ended | Si months ended | |||
| 30.0.2024 | 30.09.2023 | ||||
| (Unaudited} | (Unaudited) | ||||
| csh fow fom operting acivities | |||||
| Poft befre tax | 3,61728 | 3,00.0 | |||
| Adjustment to reconcie befre tax to net cash fows: | |||||
| Net (gain) on sale of current investments | (15.74) | (4.87) | |||
| Net loss/(gain) on current investments at fir value thrugh proft or los | 7.61 | (036) | |||
| Cost of cash fow hedge | 614.93 | - | |||
| (Gain) on fir value measurement of other receivables | (1227.70) | (1,17897) | |||
| Finance costs | 2,67096 | 223945 | |||
| Provision no longer required writen back | - | (0.57) | |||
| Interet income | (212182) | (1,35445) | |||
| Dividend income fom long term investment in subsidiares/others | (126250) | (453.00) | |||
| Operatingproftbefor woring capial changes | 2,283.02 | 2,247.27 | |||
| Changes in working capital | |||||
| (Increase)/Decrease in loans | (29.83) | 8.29 | |||
| Decrease/(lncrease) in trade receivables | 1,490.65 | (2528.33) | |||
| Decrease/(Increase) in other fnancial assets | 38.59 | (899.98) | |||
| (Increase) in other assets | (73181) | (625.11) | |||
| (Decrease)/lncrease in trade payables | (149.68) | 8,36297 | |||
| Increase in other fnancial liabites | 598.0 | 163943 | |||
| lncrease/(Oecrease)inprovisions | 5.01 | (9.80) | |||
| (Decrease)/Increase in otherlabiities | (194.93) | 381.16 | |||
| Csh generted from opertions | 3,309.42 | 8,575.90 | |||
| Taxes paid (net) | (374.7) | (383.24) | |||
| Net cash fows generated from operting acivities | (A) | ! | 2,935.15 | 8,192.66 | |
| Cash flows from investing acivities | |||||
| Investment in subsidiaries | (80.85) | ||||
| Investment injoint venture | (651.40) | (30,82410) | |||
| Proceeds/redemption from sale of non-current invesments | 260.67 | 5562 | |||
| Proceeds fom sale of current investments | 2,420.51 | 4.87 | |||
| Investment inbankdeposits(having originalmaturitofmore | than three months) | (3,24325) | (1919.04) | ||
| Proceeds fom maturitof bankdeposits (havingoriginalmaturitof more than | 3,079.21 | 1899.23 | |||
| three months) | |||||
| Loan giventojoint ventures | (22165) | (53951) | |||
| Loan repaid by joint ventures | 230523 | 966.08 | |||
| Loan given to subsidiares | (512.79) | (7,02410) | |||
| Repayments received fr loansgiven to subsidiaries | 196.57 | 6,91222 | |||
| Interest reeived | 1,536.31 | 1,393.25 | |||
| Dividend received from subsidiaries/others | 126250 | 453.00 | |||
| Net cash fow generated from/(used in) investing acivities | (B) | 4,371.06 | (28,582.48 | ||
| csh fows fom fnancing aciviies | |||||
| Proceeds from long-term borrowings | - | 1400 0 | |||
| Repayment of long-term borrowings | (60903) | (236.22) | |||
| Repayment of non-converible debentures | (410.00) | (246.85) | |||
| Proceeds/(Repayment) of current borrowings (net) | (1,49686) | 1,278.41 | |||
| Loan takenfrom subsidiaries(shor-term) | 3,019.50 | 11,64878 | |||
| Lanrepayment to subsidiarcompanies(shor-term) | (3,560.70) | (2,3550) | |||
| Finance cos paid | (3,266.98) | (22316) | |||
| Dividendpaid on equity shares | (1,20780) | (45293) | |||
| ]Net cash fows generted fom/(usedin)from fnancing acivities | (c) | (7,531.87) | 19,165.0 | ||
| Net (decrase)/increaseincashandcashequivalent | (A+B+C) | (275.66) | (1,224.7) | ||
| Cash and cashequivalent athebeginning of theperiod | 1025.11 | 1,993.45 | |||
| Csh and cash equivalent at te end of the period | 79.45 | 768.66 | |||
| cmponentof Cash and CshEquivalent | |||||
| BalanceswithBanks | |||||
| - Oncurrent accounts | 788.4 | 757.75 | |||
| - Ondeposit accounts | 278 | 2.6 | |||
| Cash on hand | 8.23 | 8.27 | |||
| TotalCsh andcash equivalent | 799.45 | 768.66 |
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ISO 9001, ISO 14001, ISO 45001, 150 27001
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Certifcate Number 23725
Note:
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1 The Company is engaged in the business of road infrastructure development. The Company secures contracts by submitting bids in response to tenders, in terms of which it is required to form Special Purpose Vehicle ("SPV") companies ("subsidiary companies") to execute the awarded projects. In so conducting its business, its revenues include income from road infrastructure projects, dividends from its subsidiaries/ mutual funds and other income.
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2 As permitted by paragraph 4 of Indian Accounting Standard (Ind AS) 108 "Operating Segments", notified under Section 1 of the Companies Act, 2013, read together with the relevant rules issued thereunder, if a single financial report contains both consolidated financial statements and the separate financial statements of the parent, segment information need to be presented only on the basis of the consolidated financial statements. Thus, disclosure required by Regulation 33 of the SEBI (Listing Obligations & Disclosure Requirements) Regulations, 2015 on segment wise revenue results and capital employed are given in consolidated financial results.
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3 In accordance with Regulation 33 and Regulation 52 of the SEBI (Listing Obligation and Disclosure Requirement) Regulations, 2015, the Joint Statutory Auditors of the Company have carried out limited review of the above unaudited results.
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4 The unaudited results for the quarter and and six months ended September 30, 2024 have been reviewed by the Audit Committee at their meeting held on October 30, 2024 and thereafter approved by the Board of Directors at their meeting held on October 30, 2024. The joint statutory auditors have expressed an unqualified review conclusion.
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5 The results of the Company are available for investors at www.irb.co.in, www.nseindia.com and www.bseindia.com.
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6 The above published unaudited standalone financial results have been prepared in accordance with the recognition and measurement principles of Ind AS notified under the Companies (Indian Accounting Standards) Rules, 2015.
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7 The Company has maintained requisite security cover of outstanding Principal and interest accrued by way of floating charge on book debts and other unencumbered assets of the Company on its listed Secured Non-Convertible Debentures as at September 30, 2024 which is more than the requisite coverage of 1.25 times as applicable.
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8 The Board of Directors at its meeting held on October 30, 2024 has declared second interim dividend of Re.0.10 per equity share of face value of Re.1/- each.
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9 Additional disclosures as per Clause 52(4) and 54 of Securities and Exchange Board Of India (Listing Obligations and Disclosures Requirements) Regulations, 2015:
| Regulations, 2015: | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sr. | Pariulars | Quarer | ended | Six | months | ended | Year ended | ||||||||||
| No. | 30.09.2024 | 30.06.2024 | 30.09.2023 | 30.09.2024 | 30.02023 | 31.03.2024 | |||||||||||
| (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Unaudited) | (Audited) | ||||||||||||
| 1 | Debt - Equity rato (refer note a) | 0.93:1 | 0.97:1 |
0 | . 8 8 : 1 | 0.93: 1 | 0 | . 8 8 :1 | 0.98: 1 | ||||||||
| 2 | Adjusted Debt - Equityratio (refer note b) | 0.37:1 | 0.38:1 |
0 | . 2 8 :1 | 0 |
. 3 7:1 | 0 | . 2 8 : 1 | 0.37: 1 | |||||||
| 3 4 5 6 7 |
Interest coverage ratio{no.of times)(refernote c) Current ratio(in times) {refer note d) Adjusted Current ratio (in tmes) (refer note e) Long-terr debt to woring capital (refer note f) AdjustedLong-term debt toworking capital (refer noteg) |
I | I | 2.89 0.6 1.08 (1.79) 2247 |
2.57 a.so 15 (1.89) 136 |
2.66 0.2 1.31 (152) 4.04 |
273 0.6 1.08 (179) 22.7 |
2.66 0.2 11 (152) 4.04 |
2.69 0.49 18 (187) 9.99 |
||||||||
| I | 8 9 |
Currentlabilt rato (in %) (refer note h) [Adjusted Current liability rato (in%)(refer note i) |
57% 24% |
57% 25% |
85% 2% |
57% 24% |
85% 27% |
57% 24% |
|||||||||
| 10 | Ttaldebtstototalassets ratio(in times) (refer notej) |
0.1 | 042 | 0.39 | 041 | 0.39 | 0.42 I |
||||||||||
| 11 | AdjustedTotal debts to totalassets ratio(n times) | 0.25 | 0.26 | 0.23 | 0.25 | 0.23 | 0.27 | ||||||||||
| {refernote k) | |||||||||||||||||
| 12 | Debtor turover ratio (no.of days)(refer note I) | 147 | 18 | 15 | 122 | 12 | 19 | ||||||||||
| 1 | Operating margin(in%)(refer note m) | 7% | 7% | 14% | 7% | 11% | 12% | ||||||||||
| 14 | Net profit margin (in%)(refer note n) | .1 | 16% | 1% | 12% | 13% | 12% | 16% | |||||||||
| 15 | Capital redemption resere | Ni | Nil | Nil | Nil | Nil | Nil | ||||||||||
| 16 | Debenture redemption resere | Nil | Nil | Nil | Nil | Nil | Nil | ||||||||||
| 17 | Networh {Rs. in million) (refer note o) | 97,382.23 | 95,67211 | 91,804.23 | 97,382.23 | 91,80423 | 94,84263 | ||||||||||
| 18 | Net proftafer tax(Rs.in milion) | 1,59890 | 1,418.41 | 1,297.36 | 3,017.31 | 2,397.84 | 7,623.89 | ||||||||||
| I | 19 | Earingsper share basicand diluted (not annualised) |
0.27 | 0.23 | 0.21° | 0.50 | 0.40 | 1.26 | |||||||||
| 20 | DebtSericeCoverageRatio (DSCR)(no.of times) | 2.00 | 18 | 266 | 1.89 | 2.66 | 2.69 | ||||||||||
| (refer note p) | |||||||||||||||||
| 21 | Outstanding Redeemable Preference shares | Nil | Nil | Nil | Ni | Nil | Nil | ||||||||||
| 22 | Bad debts to accounts receivable(in%) | Ni | Nil | Ni | Ni | Nil | Nil | ||||||||||
| (refer note q) | |||||||||||||||||
| 23 | Inventorturnover ratio(refer noter) | I | Nil | Ni | Nil | I | Nil | Ni | Ni | ||||||||
| - |
cb ISO 9001, ISO 14001, ISO 45001, ISO 27001 IHIGHWAY TO GROWTH RE3.2%= Ea • .A5 SYSTEMS 002
Certifcate Number 23725
Notes:
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(a) Debt - Equity ratio : Total Debt divided by Equity
-
(b) Adjusted Debt - Equity ratio : Borrowings (excluding unsecured loans from related parties) - Cash and Bank Balances -- Fixed Deposits - Liquid Investments including investment in IRB lnvll Fund divided by Equity
-
(c) Interest coverage ratio (no. of times) : Profit before interest divided by interest expense (net of moratorium interest, interest cost on unwinding (long term unsecured loans} and amortisation of transaction cost}
-
(d) Current ratio (in times) : Current Assets/ Current liabilities
-
(e} Adjusted Current ratio (in times): Current assets/ Current liabilities excluding Current borrowings.
-
(f) Long-term debt to working capital : Non-current borrowings + Current maturities of Long term borrowings divided by net working capital excluding Current maturities of long term debt and interest accrued on borrowings
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(g) Adjusted Long-term debt to working capital : Non-current borrowings + Current maturities of Long term borrowings less non-current borrowings from related parties divided by net working capital excluding current borrowings
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(h) Current liability ratio (in %) - Current liabilities/ Total liabilities
-
(i) Adjusted Current liability ratio (in % ) : Current liabilities excluding current maturities of long term debt, interest accrued on borrowings and current borrowings /Total liabilities
-
() Total debts to total assets ratio ( in times) - (Short term debt+ Long-term debt) divided by Total assets
-
(kl Adjusted Total debts to total assets ratio (in times) : (Short term debt+ Long-term debt excluding unsecured loans from related parties and interest accrued on borrowings) divided by Total assets
-
(I) Debtor turnover ratio: Revenue from operations /Average (Trade receivable and contract assets) No. of days
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(m) Operating margin (in %) : profit before interest, depreciation and amortisation and tax less Other income divided by Revenue from operation.
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(n} Net profit margin (in %): Profit after tax/ Revenue from operation
-
(o} Networth (Rs. in million) as per section 2(57) of the Companies Act, 2013
-
(p) Debt Service Coverage Ratio (DSCR) (no. of times) : Profit before interest, divided by Interest expense (net of moratorium interest, interest cost on unwinding (long term unsecured loans) and amortisation of transaction cost} together with repayments of long term debt during the period (netted off to the extent of long term loans availed during the same period for the repayment}
-
(q) Bad debts to accounts receivable (in %): Bad debts divided by average trade receivable.
-
(r) Inventory turnover ratio: Cost of material consumed/ average inventory* No. of days.
For IRB Infrastructure Developers Limited Virendra D. Mhaiskar Chairman and Managing Director
Place : Mumbai
Date : October 30, 2024
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ISO 9001, ISO 14001, ISO 45001, ISO 27001
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Certificate Number 23725
Press Release
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IRB Infra reports Net Profit of Rs. 100 Crs, against Rs. 96 Crs in the corresponding quarter of FY24; clocks Y-o-Y rise of 4%
-
Q2FY25 Net Income is down by 7% to Rs. 1,752 Crs vs Rs.1,875 Crs in Q2FY24
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Toll collection for Q2FY25 rises 25% (including projects under Private InvIT)
Mumbai, October 30, 2024: In a Board Meeting held today to announce the Financial Results for the Q2FY25, the IRB Infrastructure Developers Limited, India's leading , largest and the first multinational transport infrastructure developer in roads and highways sector, has reported 4% growth in the Net Profit for Q2FY25 over last year's corresponding period , i.e., Q2FY24.
The Company has posted Q2FY25 Net Profit at Rs. 100 Crs as against Rs.96 Crs in the corresponding quarter of FY24; whereas the Total Income for the quarter under review has decreased by 7%, i.e., from Rs.1,875 Crs in Q2FY24 to Rs. 1,752 Crs in Q2FY25.
Financial Performance:
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Q2FY25 Q2FY24 %
Particulars
(In Rs Cr) (In Rs Cr) Change
Total Income 1,752 1,875 -7%
EBITDA 933 924 1%
Profit Before Tax 267 257 4%
PAT before share of JV 184 171 7%
PAT after share of JV 100 96 4%
Cash Profit 415 404 3%
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While commenting on the occasion, Mr. Virendra D. Mhaiskar, Chairman & Managing Director of the Company said, The Q2FY25 looks fine, specifically on the toll collection front, which has shown consistent robust year on year growth, despite impact of heavy monsoon resulting into the traffic disruptions in some of the Assets. We expect improved performance in the remaining quarters in view of the exit of monsoon season, coupled with set-in festive season and the pace consolidation in the development of under construction projects post monsoon season."
About IRB Infrastructure Developers Ltd:
IRB Infrastructure Developers Ltd (IRB) is India's first Integrated Multi -National Transport Infrastructure Developer in Roads & Highways segment. The Company has acquired ISO Certification in Quality (ISO 9001); Environment Management (ISO 14001), Occupational Health and Safety (ISO 45001) and IT Security (ISO 27001) from the ISOQAR, United Kingdom.
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Certificate Number 23725
ISO 9001, ISO 14001, ISO 45001, ISO 27001
Press Release
As the largest integrated private toll roads and highways infrastructure developer in India, IRB has an asset base of approx. Rs.80,000 Crs. in 12 States across the parent company and two InvITs.
The Company has strong track record of constructing, tolling, operating, and maintaining around 18,500 lane Kms pan India in its existence of more than 25 years in India; of which 15,500 Lane Kms are under operations at present. The group commands a market share of around 38% in the TOT space. It also comprises 12% share in India's North South highway connectivity.
After successfully completing 13 Concessions and handing over them to the nodal agencies, at present, IRB Group's project portfolio (including Private and Public lnvlT) has now 26 road projects that include 18 BOT, 4 TOT, and 4 HAM projects.
For further details, please contact:
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Parikshit Sharma, Concept PR, 88989 39833, [email protected]
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Vivek Devasthali, Head, Corporate Communications, 99300 80099, [email protected]
Disclaimer:
Except for the historical information contained herein, statements in this communication and any subsequent discussions, which include words or phrases such as 'will', 'aim', 'will likely result', 'would', 'believe', 'may', 'expect', 'will continue', ' anticipate', estimate', 'intend', 'plan', 'contemplate', 'seek to', 'future', 'objective', 'goal', 'likely', 'project', 'on course- ', 'should', 'potential', 'pipeline', 'guidance', 'will pursue' 'trend line' and similar expressions or variations of such expressions may constitute 'forward - looking statements' ~~.~~
The forward-looking statements involve a number of risks, uncertainties and other factors that could cause actual results to differ materially from those suggested by the forward-looking statements.
These risks and uncertainties include but are not limited to the IRB Infrastructure Developers Limited and/ or its Associates 'ability to successfully implement its strategy, its growth and expansion plans, obtain regulatory approvals, provisioning policies, technological changes, investment and business income, cash flow projections, exposure to market risks as well as other risks. In addition, the consummation of the transactions described herein is subject to various conditions precedent.
IRB Infrastructure Developers Limited does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof.
These materials are not a prospectus, a statement in lieu of a prospectus, an offering circular, an invitation or an advertisement or an offer document under the Indian Companies Act, 2013 together with the rules and regulations made thereunder, the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2009, as amended, or any other applicable law in India.
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