Indraprastha Gas Limited · NSE:IGL
Indraprastha Gas — Investor Presentation (May 2016)
24 slides from Indraprastha Gas's investor presentation, May 2016
Slide 1: Indraprastha Gas Limited: An Overview
INDRAPRASTHA GAS LIMITED An Overview 1 May’ 2016 1
Slide 2: Background
Background Incorporated in 1998, IGL is a Joint Venture of GAIL and BPCL. Govt. of NCT of Delhi is also holding 5% equity IGL started its operations in NCT of Delhi in 1999 with only 9 CNG stations and 1000 PNG consumers Today IGL has its operations in NCT of Delhi, Noida, Greater Noida and Ghaziaba
Slide 3: Shareholding Pattern
Shareholding Pattern % HOLDING Promoters - 45% (GAIL-22.5% & BPCL- 22.5%) Government of NCT of Delhi - 5% Foreign Institution Investors - 21% Mutual Funds - 9% Indian Financial Institutions & Banks - 1% Insurance Companies - 6% Public / Others - 13% 6% 13% 1% 45% 9% 21% 5% 1 3
Slide 4: Management
Management IGL Board is fairly well diversified with ten members including two each from GAIL and BPCL, one from Govt. of Delhi and five independent directors. The company is beneficiary of its strong parentage and gets significant support from GAIL and BPCL relating to operations and management. By
Slide 5: Area of Operation
Area of Operation Delhi: National capital of India has huge demand potential: where all public transport vehicles have to be necessarily run on CNG in view of the directions of the Hon. Supreme Court of India. has the highest number of private cars compared to any other city of India thickly populat
Slide 6: Segment & Current Sales Volume Mix
Segment & Current Sales Volume Mix Comm./ Ind. 11% Sale to other CGD Cos. 6% Residential 6% CNG 77% 1 6
Slide 7: Sales Volumes
Sales Volumes Figures in MMSCM C A GR la s t FY12 FY13 FY14 FY15 FY16 f iv e ye a rs CNG 936 1,005 1,028 1,073 1,123 7% PNG 282 333 356 330 342 14% Total 1,218 1,338 1,384 1,403 1,465 8% Sale Daily Average 3.34 3.67 3.79 3.84 4.00 8% Sale 1 7
Slide 8: Gas Sourcing
Gas Sourcing Firm allocation from Govt. of India of domestic gas for the entire consumption of CNG and PNG Domestic segment. Lower prices of domestic gas makes the economics of switching to gas more attractive driving growth in CNG & PNG- Domestic segments which constitute around 83% of the total
Slide 9: Current Gas Mix
Current Gas Mix PMT 22% RLNG 11% APM 67% MMSCMD % Mix APM 2.83 67% PMT 0.92 22% RLNG 0.44 11% Total 4.19 100% 1 9
Slide 10: Growth in CNG
Growth in CNG March' March' March' March' March' March' PARAMETER UNIT 11 12 13 14 15 16 No of CNG Nos 278 308 324 325 326 340 Stations Compression (Lakh 51.13 59.56 63.83 66.17 68.49 68.59 Capacity kg/day) Average CNG (Lakh 16.71 19.15 20.72 21.20 22.07 22.79 Sale kg/day) 1 10
Slide 11: CNG Station Network
CNG Station Network Figures in numbers DTC/ STATION IGL OMC TOTAL UPSRTC Online 127 55 124 306 Daughter Booster 2 0 32 34 Total 129 55 156 340 1 11
Slide 12: CNG Vehicles
CNG Vehicles Figures in numbers C A GR M a rc h' M a rc h' M a rc h' M a rc h' M a rc h' la s t f iv e 12 13 14 15 16 ye a rs B us e s 18 8 3 9 18 8 2 6 19 5 6 6 19 4 2 1 19 2 7 2 3% A ut o / LG V 15 9 12 3 19 3 8 5 2 2 0 6 3 5 2 2 2 8 0 0 2 2 4 5 7 17 15 % RTV 13 0 0 7 14 0 6 2 14 0 3 9 13 5 3 8 13
Slide 13: PNG Users
PNG Users Figures in numbers CATEGORY March' 12 March' 13 March' 14 March' 15 March'16 Domestic 332844 386696 459467 560752 636318 Commercia 862 1382 1876 2292 2580 l/ Industrial Total 333706 388078 461343 563044 638898 1 13
Slide 14: PNG Network
PNG Network Figures in kilometers CAGR March March March March' March' last CATEGORY '12 '13 '14 15 16 five years Steel Pipeline 574 631 658 681 707 11% MDPE 6479 7783 8438 8966 9444 16% Pipeline Total 7053 8414 9096 9647 10151 16% 1 14
Slide 15: Standalone Financial Data
Standalone Financial Data Rs./Crores FY12 FY13 FY14 FY15 FY16 CAGR GROSS TURNOVER 2790 3724 4319 4049 4052 16% PAT 306 354 360 438 416 10% EPS (Rs./share) 22 25 26 31 30 10% Book Value 88 107 126 150 172 19% (Rs./Share) 1 15
Slide 16: Cumulative Capex
Cumulative Capex (Rs. in crores) 4000 3654 3430 3500 3236 3010 3000 2642 2500 2000 1500 1000 500 0 FY'12 FY'13 FY'14 FY'15 FY'16 1 16
Slide 17: Dividend
Dividend Dividend Policy provides liberal payout Track record of last five years Year % of equity FY12 50 FY 13 55 FY 14 55 FY 15 60 FY 16* 60 * Proposed. Subject to approval of Shareholders 1 17
Slide 18: Acquisition of Equity in Other CGDs
Acquisition of Equity in Other CGDs • IGL has acquired 50% equity share capital of Central UP Gas Limited (CUGL) for Rs. 69 crores. CUGL is engaged in the CGD in the cities of Kanpur and Bareilly, Unnao & Jhansi in Uttar Pradesh. • IGL has acquired 50% equity share capital of Maharashtra Natural Gas
Slide 19: Consolidated Results
Consolidated Results First time consolidation of financial results has been done during FY 2015-16 with the Associates i.e. CUGL & MNGL on equity method considering 50% share in their profit. The standalone and consolidated results are as under. Parameter Unit Standalone Consolidated PAT Rs. In 41
Slide 20: Growth-Strategy
Growth-Strategy Improve/Augment CNG infrastructure/Stations in Delhi & NCR to meet the additional demand in view of conversion of private cars and improvement in public transport system Improve penetration of PNG business : Penetration of network in all charge areas Target Industrial/Commercial
Slide 21: Credit Strength
Credit Strength • Healthy profitability with strong cash generations from operations. • Regained the status of zero debt company. • Comfortable working capital position. • ICRA Limited (An associate of Moody’s Investors Service) has reaffirmed highest credit ratings of AAA (Stable) for term loan and
Slide 22: Risks & Mitigations
Risks & Mitigations Gas price CNG & PNG-Residential prices still remains competitive vis-à-vis petrol and subsidised LPG in view of allocation of domestic gas Spot/short term gas is purchased to reduce the weighted average cost of gas for I/C segment. Sourcing of gas Firm allocation from G
Slide 23: Safe Harbor Statement
Safe Harbor Statement This presentation has been prepared by Indraprastha Gas Limited solely for providing information about the company. The information contained in this presentation is for general information purposes only, without regard to specific objectives, financial situations and needs
Slide 24: Thank You
THANK YOU 1 24