Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — FY2012 Earnings Presentation
31 slides from Il&fs Transportation Networks's earnings presentation, May 7, 2012
Slide 1: Slide 1
Slide 2: Disclaimer
Disclaimer This presentation has been prepared solely by IL&FS Transportation Networks Limited (“ITNL”) and does not constitute a prospectus or placement memorandum or an offer to acquire any securities. This presentation or any other documentation or information (or any part thereof) delivered or s
Slide 3: In this presentation…
In this presentation… Company Overview Key Differentiators The ITNL Group Project Portfolio Recent Project Awards and Financial Closures Project Pipeline Road Sector Opportunity Financial Performance Parameters Key Quarterly Financial Parameters of FY12 Capital Works Remaining to be Executed Toll an
Slide 4: An Introduction
An Introduction IL&FS Transportation Networks Limited (ITNL) has the largest BoT road asset portfolio (in terms of lane kilometer) in India Jammu & Kashmir ITNL has a pan India presence with projects in 16 states in India PAN India presence with Promoted by Infrastructure Leasing and Financial Servi
Slide 5: Key Differentiators
Key Differentiators Market Leadership in the Transportation Infrastructure Sector • With around 12,000 lane km comprised in 23 projects in its road assets portfolio • Forays into other surface transportation sub-sectors like metro, bus & border check-post Track Record of Successful Project Implement
Slide 6: Organization Chart
Organization Chart Annuity Projects Toll Projects Urban Transport Projects Others North Karnataka Expressway Gujarat Toll Road (83.6%) Vansh Nimay - Bus (90%) IL&FS Rail Ltd (69.29%) (93.5%1) Andhra Pradesh Expressway Rapid Metro Rail ITNL Offshore Pte. Ltd. West Gujarat Eway (100%1) (100%1) Gurgaon
Slide 7: Portfolio: Road Projects
Portfolio: Road Projects • Diverse BOT portfolio of 23 road projects covering 11,860 lane km spread across 16 states in India • Fair mix of “Annuity / assured payments” and “Toll” based projects in various stages of development Kharagpur Baleshwar RIDCOR III 500000 Kiratpur Sikar Jharkhand Road 1200
Slide 8: Portfolio: Non Road Projects
Portfolio: Non Road Projects Metro Rail Project – awarded by Haryana Urban Development Authority (HUDA) Metro Metro link from Delhi metro Sikanderpur station to DLF Cyber City on NH-8 in Gurgaon Rail Project Cost of ~ `1088 cr with a concession period of 99 years - ITNL stake in the project ~59.3% L
Slide 9: Recent Project Awards & Financial Closures
Recent Project Awards & Financial Closures ITNL Secured projects worth around ` 74 billion each year Debt Tied-up in the last 2 financial years BOT Length Estimated Cost Debt tied-up Project Authority Project Type (lane km) ( ` Million) ( ` Million) Road Sector Mega Highways-II GoR Toll 698 8,126 Me
Slide 10: Project Pipeline for FY12
Project Pipeline for FY12 As of April 30, 2012 BID PIPELINE RFP Stage (Post Qualification) RFQ Stage (Pre Qualification) Projects Length (km) Cost (` Mn) Projects Length (km) Cost (` Mn) NHAI 7 798 74,084 31 3,455 2,89,139 MORTH - - - - - - STATE PROJECTS 3 216 17,022 8 959 1,15,065 Total 10 1014 91
Slide 11: Road Sector Opportunity
Road Sector Opportunity ~23,000 km of award pending under NHDP – to be substantially executed under PPP NHAI has targeted award of around 8,800 km in FY13 Program Current rollout plan (in Km) NHDP-III 1,274 NHDP-IV 7,235 NHDP-V 2,561 SARDP-NE 81 Total 11,151 Approved Financing Plan of NHDP (public/p
Slide 12: Financial Parameters (Consolidated)
Financial Parameters (Consolidated) Revenue EBITDA(1) (` mn) (` mn) 15,894 56,056 12,335 60,000 14,000 50,000 12,000 40,483 10,000 8,785 40,000 8,000 30,000 24,873 6,000 20,000 13,320 2,489 2,900 4,000 4,375 960 10,000 1,981 2,000 - - FY07 FY08 FY09 FY10 FY11 FY12 FY07 FY08 FY09 FY10 FY11 FY12 Profi
Slide 13: Financial Parameters (Standalone)
Financial Parameters (Standalone) Revenue EBITDA(1) (` mn) (` mn) 6,899 27,726 6,440 6,171 30,000 7,000 25,000 6,000 5,000 20,000 16,158 4,000 15,000 9,415 3,000 10,000 1,358 1,323 2,000 1,649 2,499 2,277 796 5,000 1,000 - - FY07 FY08 FY09 FY10 FY11 FY12 FY07 FY08 FY09 FY10 FY11 FY12 Profit After Ta
Slide 14: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in ` million) Consolidated Standalone Key Parameters FY12 FY11 % Change FY12 FY11 % Change Revenue 56,056 40,483 39% 27,726 16,158 72% Other Income 1,238 791 41% 1,377 852 62% EBITDA 15,894 12,335 29% 6,899 6,171 12% EBITDA Margin 28% 30% 25% 38% Intere
Slide 15: Standalone Revenue & Expenses
Standalone Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 12,500 12500 10,000 1,613 15% 10000 7,500 7500 1,247 18% 25% 24% 5,000 1,395 1,474 5000 8,589 7,782 67% 5,088 2500 4,558 3,696 2,500 3,677 75% 4,046 67% 79% 3,378 0 - Q1FY12 Q2FY12 Q3FY12 Q4FY12 Q1FY12 Q2FY12 Q3FY12 Q4FY12
Slide 16: Consolidated Revenue & Expenses
Consolidated Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 20,000 1,472 20000 1,814 2,665 13% 15,000 15000 1,348 1,485 71% 1,256 14% 12% 10,000 14% 1,831 1,574 10000 1,617 14,388 67% 69% 70% 11,663 5,000 8,875 9,049 5000 7,085 7,527 5,174 6,592 0 - Q1FY12 Q2FY12 Q3FY12 Q4FY12 Q1F
Slide 17: Debt Equity Analysis
Debt Equity Analysis Standalone Consolidated (in ` million) (in ` million) 120,000 5.00 120,000 5.00 4.50 1,02,259 4.50 100,000 100,000 93,864 4.00 4.00 3.49 80,000 3.50 80,000 3.70 68,897 3.50 3.00 63,763 60,000 60,000 2.67 3.00 2.50 2.66 2.50 40,000 2.00 40,000 26,857 27,638 21,476 24,739 27,261 2
Slide 18: In the Works…
In the Works… Capital Works remaining to be executed (ITNL proportionate share) (In ` million as on 31-March-2012) Of projects awarded till last quarter* 87,887 Of projects awarded after last quarter 32,686 Total of Capital Works remaining to be executed 120,573 Andhra Pradesh Project Non Road Proje
Slide 19: Revenue Collection on Operational Road Projects
Revenue Collection on Operational Road Projects Not adjusted for ITNL’s stake (All figures in ` million) Toll Projects under Operation Average Daily Toll Collection In FY11 In FY 12 In Q4 FY 12 Ahmedabad Mehsana Road (Gujarat) 1.32 1.59 1.60 Vadodra Halol Road (Gujarat) 1.01 1.24 1.31 Noida Toll Bri
Slide 20: BOT Toll Revenue Growth
BOT Toll Revenue Growth Rs in million Toll Revenue start Sr.No Name of the Project 2007-08 2008-09 2009-10 2010-11 2011-12 date Ahmedabad Mehsana Road 1 Feb-03 (Gujarat) 614 660 747 850 1037 2 Vadodra Halol Road (Gujarat) Oct-00 3 Noida Toll Bridge (UP) Feb-01 547 659 706 696 774 Mega Highways - Raj
Slide 21: IL&FS - Strong Parentage
IL&FS - Strong Parentage IL&FS Overview IL&FS Shareholding Incorporated in 1987 as a JV between the Central Bank of India (CBI), Housing Development Finance Corporation Limited (HDFC) and Unit Trust of India (UTI) IL&FS EWT to commercialize infrastructure projects and work with public & private sect
Slide 22: Value for Shareholders
Value for Shareholders Have consistently created wealth for our shareholders…. Public Issue Bessemer ` 5012 Cr* ` 4184 Cr* (Mar, 2010) Stanchart (Oct, 2009) IL&FS Fund ` 2280 Cr* (Mar, 2008) Goldman Sachs ` 1624 Cr* Trinity (Mar, 2007) Capital ` 1542 Cr* (Dec, 2006) * Post money valuation 21
Slide 23: Experienced Board of Directors
Experienced Board of Directors Independent Directors Non-Independent Directors Name Designation Name Designation Mr Ravi Parthasarthy Chairman, IL&FS Mr Deepak Dasgupta Chairman; Former Chairman, NHAI Mr Hari Sankaran Managing Director, IL&FS Mr RC Sinha Former Vice Chairman & MD, Mr Arun K Saha Joi
Slide 24: Key Managerial Personnel
Key Managerial Personnel K. Ramchand • He has over 30 years of experience in urban and transport infrastructure development sector Managing Director Mukund Sapre • He has over 27 years of experience in the industry. Executive Director Harish Mathur • Has over 33 years of experience in various road c
Slide 25: Road Projects
Road Projects
Slide 26: Operational Projects
Operational Projects North Karnataka Expressway West Gujarat Expressway Vadodara Halol Toll Road Ahmedabad - Mehsana Road Name of Project Noida Toll Bridge (NTBCL) Limited (NKEL) Limited (WGEL) (GRICL) (GRICL) Authority NHAI NHAI NOIDA Govt. of Gujarat Govt. of Gujarat State Karnataka Gujarat Delhi
Slide 27: Operational Projects
Operational Projects Andhra Pradesh Expressway Thiruvananthapuram City Mega Highways Project East Hyderabad Expressway Name of Project Beawar Gomti Road (IRIDCL) (APEL) Roads (Phase I) (TRDCL) Rajasthan (RIDCOR) Ltd (EHEL) Authority NHAI KRFB Govt. of Rajasthan MORTH HUDA State Andhra Pradesh Kerala
Slide 28: Project Under Implementation
Project Under Implementation Jharkhand Accelerated Road Pune Sholapur Road Mega Highways Project, Thiruvananthapuram City Hazaribagh Ranchi Name of Project Development Programme Development Company Rajasthan (Additional) Roads (Phase II) (TRDCL) Expressway Limited (HREL) (JRPICL) Limited (PSRDCL) (R
Slide 29: Project Under Implementation
Project Under Implementation Chandrapur Warora Moradabad to Bareilly Chennani - Nashri Jorabat Shillong Narketpally - Addanki M P Border Check Post Name of Project WCBTRL) WCBTRL) (MBEL) (CNTL) (JSEL) (NAMEL) (MPBCDCL) Authority PWD, Maharashtra NHAI NHAI NHAI Govt. of Andhra MPRDC Pradesh State Mah
Slide 30: Project Under Implementation
Project Under Implementation Chaibasa Kandra Chowka Adityapur Kandra Kiratpur Ner Chowk Kharagpur Baleshwar Beawer Gomti Name of Project Sikar Bikaner Road (JRPICL) Road (JRPICL) (KNEL) Road (BKEL) (Additional) Authority Govt of Jharkhand Govt of Jharkhand NHAI NHAI MoRTH MoRTH State Jharkhand Jhark
Slide 31: Thank You
Thank You IL&FS Transportation Networks Limited The IL&FS Financial Centre C-22, G Block, Bandra Kurla Complex Bandra (East), Mumbai – 400 051 Board: +91 22 2653 3333 Fax: +91 22 2652 3979 Email: itnlinvestor@ilfsindia.com
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