Asian Oilfield Services Ltd. Investor Presentation November 2019 1 - PowerPoint PPT Presentation

Asian Oilfield Services Ltd. Investor Presentation November 2019 1

Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Asian Oilfield Services Ltd. (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. No offering of securities of the Company will be made except by means of a statutory offering document containing detailed information about the Company. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. This presentation contains certain forward looking statements concerning the Company’s future business prospects and business profitability, which are subject to a number of risks and uncertainties and the actual results could materially differ from those in such forward looking statements. The risks and uncertainties relating to these statements include, but are not limited to, risks and uncertainties regarding fluctuations in earnings, our ability to manage growth, competition (both domestic and international), economic growth in India and abroad, ability to attract and retain highly skilled professionals, time and cost over runs on contracts, our ability to manage our international operations, government policies and actions regulations, interest and other fiscal costs generally prevailing in the economy. The Company does not undertake to make any announcement in case any of these forward looking statements become materially incorrect in future or update any forward looking statements made from time to time by or on behalf of the Company. 2

Q2FY20 Financial Performance

Q2FY20 Consolidated Profit & Loss Statement Particulars (in Rs. Crore) Q2FY20 Q2FY19 Y-o-Y  Updates on Q2FY20 performance: Revenue from Operations 55.5 38.1 45.9%  Commencement of execution of the Project from Amni International Oilfield services related expense 35.1 25.2 Petroleum for upgrading its production facility has primarily led to robust Gross Profit 20.4 12.8 59.2% performance in Q2FY20 Gross Margin 36.8% 33.7%  We faced disruption at the seismic project in Himalaya during the quarter on Employee expense 2.4 4.1 account of unforeseen weather challenges and prolonged monsoon. Work has Other expenses 5.5 2.8 now gathered momentum EBITDA 12.5 6.0 110.1%  On account of monsoon season, there were no operations in any seismic EBITDA Margin (%) 22.6% 15.7% projects in north east of India . The operations for the same has started from Other Income 1.3 3.9 November ’19 onwards Depreciation 4.9 4.9  Have repaid all external borrowings and the pledge on the company’s assets EBIT 9.0 5.0 80.6% has been removed EBIT (%) 16.1% 13.0% Finance Cost 0.1 2.9  The existing outstanding order book of ~Rs. 20 crore of Indian seismic Profit before exceptional items and tax 8.9 2.1 business is expected to be executed in FY20 Exceptional Items 0.0 -3.0  Design work for production asset for Charaideo field in Assam has begun Profit before Tax 8.9 -1.0 N.A. and execution will further progress in FY20 PBT Margin (%) 16.0% N.A. Tax 2.6 0.0  Cash and bank balance (net of outstanding debt) is ~Rs. 69 crore as on 30 th Profit after Tax 6.3 -1.0 N.A. September 2019 PAT Margin (%) 11.3% N.A. Consolidated Net Worth as on 30 th September 2019 is ~Rs. 149 crore  Cash PAT 11.2 3.9 184.5% Cash PAT Margin (%) 20.1% 10.3% 4

Consolidated Balance Sheet ASSETS (Rs. Crs) Sep-19 Mar-19 Mar-18 EQUITY AND LIABILITIES (Rs. Crs) Sep-19 Mar-19 Mar-18 Non-current assets 95 100 114 Equity 149 152 141 Property, plant and equipment 84 97 78 Equity share capital 38 38 38 Intangible assets 2 3 3 Other equity 114 102 111 Financial assets Non-Current Liabilities 2 0 14 Loans 0 0 0 Financial liabilities Other financial assets 0 9 0 Borrowings 0 0 14 Income tax assets 15 14 5 Other Financial Liabilities 2 0 0 Other non-current assets 0 0 0 Provisions 0 0 0 Current Assets 216 118 138 Current Liabilities 160 66 98 Inventories 1 2 0 Financial liabilities Financial assets Borrowings 4 4 18 Trade receivables 59 62 100 Trade payables 45 55 32 Cash and cash equivalents 3 8 51 Other financial liabilities 7 11 32 Bank balances other than above 22 16 36 Other current liabilities 1 2 95 Loans 1 8 3 Provisions 5 5 6 Other financial assets 2 20 3 Current tax liabilities 2 0 0 Other current assets 30 22 22 TOTAL - EQUITY AND LIABILITIES 311 218 253 TOTAL - ASSETS 311 218 253 5

Order Book Details (1/2) Total outstanding Outstanding Order Book ~Rs. 770 Cr  Domestic: Client: ONGC & Oil India • Scope of work: 2D Seismic Data Acquisition & Basic Processing Services in Himalaya & North East Region • Order worth: ~Rs.20 Cr • Seismic  International: Services Client: Bashneft • Scope of work: Executing 2D / 3D work in Iraq • Order worth: US $37 Million •  Client: Oilmax Energy Operations  Scope of work: Supply of Onshore facility + Provide O&M services for 10 years upon start of production at Charaideo (Assam) & Maintenance Services  Order worth: Rs. 210 Cr  Client: Amni International (Nigeria) Production Facility  Scope of work: Upgradation of an existing Mobile Offshore Production Unit (MOPU) in Nigeria Construction and O&M  Order worth: US $52 Million. Have booked US $11.5 Million in revenue and balance will be booked in coming quarters 6

Order Book Details (2/2)  Order Book: The total outstanding net order book as on 30 th September 2019 is Rs. 770 crore, of which seismic constitutes 36.3%, Production Assets constitutes 36.4% and the balance 27.3% is comprised of O&M projects. Domestic orders constitute 30% and International orders constitute 70%. The total order inflow in H1FY20 is Rs. ~615 crore  New Projects: The execution of Nigeria Langley Project has been initiated in May 2019 and is on schedule. This project is expected to be completed by next year. We expect delay in execution of Bashneft Seismic Data Acquisition Project in Iraq on account of some uncertainties in geopolitical environment and local unrest. Design work for production facility of Oilmax Energy Project at Charaideo (Assam) have been initiated. We are awaiting government clearance for the same.  Executed Projects: Asian has successfully completed Rajasthan, Ganga and Mizoram seismic projects in last nine months  Existing Projects: We plan to complete seismic projects at Assam, Himachal Pradesh & Arunachal Pradesh in FY20 Completion of projects will help Asian to secure additional work in seismic division and start execution of new projects immediately 7

Asian Oilfield Services – Oil & Gas Services Specialist

Introduction Asian Oilfield 5 Ongoing Projects 19 Projects Completed Incorporated in 1992 Asian is an oil & gas industry service provider, offering end-to- end services across the entire upstream value chain. Currently offering Geophysical data acquisition (seismic), Production 380 Facility Construction, Production Facility 0 People Strong LTIF Operation and Maintenance (O&M). It also Project Team plans to provide Turnkey Drilling and Enhanced Oil Recovery services going ahead Oilmax – New Promoter ~ Rs. 770 cr Oilmax became the New Promoter of 6 Countries Asian Oilfield in 2016-17 and Footprint transformed the company from O/S Order Book Seismic service provider to being a wide scale service provider in Oil-Gas services Business 9

Advantage ASIAN Technology Driven Solutions Strong Balance Sheet & Asset Base Only Indian company to offer 3D wireless seismic Debt free Balance Sheet with Net Worth of technology Rs. 149 Cr Attractive option to potential customers who are Strong asset base of Seismic Survey looking to work in challenging environments equipment's Diverse Services Experience Across Challenging Terrains Seismic, Production Facility Construction, Production Extensive work experience across challenging Facility Operation and Maintenance (O&M) terrains and International geographies ASIAN also plans to provide Turnkey Drilling and Enhanced Oil Recovery services going ahead Experienced Management Team Diverse Geography & Strong Customer Base Operating in Domestic as well as International Markets Highly experienced Promoter Group & Professional Management Strong asset base of Seismic Survey equipment's 10