Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — Investor Presentation (February 2015)
38 slides from Il&fs Transportation Networks's investor presentation, Feb 13, 2015
Slide 1: Analyst Presentation – February 2015
IL&FS Transportation Networks Limited Analyst Presentation – February 2015 February 13, 2015
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 Toll and Annuity Collection on Operational Projects Key Competitive Strengths IL&FS – Strong Parentage Segment Overview Board of Directors Portfolio – Road Projects Road Projects Portfolio – Metro Rail Glossary Portfolio – Other Concession
Slide 4: Company Overview
Company Overview IL&FS Transportation Networks Limited (ITNL) is a leading surface transportation infrastructure company and the largest private sector BoT road Jammu & Kashmir operator (in terms of lane kilometer) in India* PAN India presence with ITNL has a pan India presence with projects in
Slide 5: Key Competitive Strengths
Key Competitive Strengths Market Leadership in the surface transportation infrastructure sector backed by expansion into new sub sectors • With around 12,838 lane kms spread over 27 projects in our road assets portfolio • Forays into other surface transportation sub-sectors like metro rail, City Bus
Slide 6: Segment Overview
Segment Overview Annuity Projects Toll Projects Urban Transport Projects Others NKEL (93.5%1) GRICL (41.8%) VNIL (90%) IRL (77.34%) APEL (100%1) WGEL (74%) RMGL (85.27%) IOPL , Singapore (100%) ITNL International Pte Ltd , NTBCL (25.35%) RMGSL (85.27%) TRDCL (50%) Singapore (100%) IRIDCL (100%) MPBC
Slide 7: Portfolio: Road Projects
Portfolio: Road Projects Khed • Diverse BOT portfolio of 27 road projects covering 12,838 lane km spread across several states in India Barwa Adda Sinnar SSTL Panagarh Kiratpur • Diverse mix of “Annuity / assured payments” and “Toll” based projects in various stages of development Ner Kharagpur RIDC
Slide 8: Portfolio: Metro Rail
Portfolio: Metro Rail Gurgaon MetroRail Link: Awarded by Haryana Urban Development Authority (HUDA) through Concession Agreement dated December 09, 2009 Metro link from Delhi metro Sikanderpur station to NH-8 in Gurgaon – around 4.9 km Concession period of 99 years Started Commercial Operati
Slide 9: Portfolio: Other Concessions
Portfolio: Other Concessions MP Border Check Post Project – awarded by Madhya Pradesh Road Development Corporation Limited ITNL stake 74%, 24 border check-post in MP to be developed and 2 central control facilities Border Revenue sources – entry fee from commercial vehicles, parking fee, loading
Slide 10: Road Sector Opportunity
Road Sector Opportunity ~16,198 km of awards pending under NHDP – to be substantially executed under PPP Program To be awarded (in Km) • India’s road network increased to 4.2 million km from 3.3 million km NHDP-III 1,685 • The 13th Finance Commission has decided to provide a central grant of INR 199
Slide 11: Project Pipeline
Project Pipeline As of January 31, 2015 BID PIPELINE RFP Stage (Post Qualification) RFQ Stage (Pre Qualification) Projects Length (km) Cost (INR Mn) Projects Length (km) Cost (INR Mn) NHAI 13 2,003 1,07,115 3 332 35,330 States 1 199 17,181 4 606 11,300 MORTH 2 33 1,05,900 0 0 0 Metropolitan Transpor
Slide 12: Financial Parameters (Consolidated)
Financial Parameters (Consolidated) Revenue EBITDA(1) (INR mn) (INR mn) 80,000 67,863 68,025 80,000 70,000 57,294 70,000 52,558 60,000 60,000 50,000 41,274 50,000 40,000 24,873 40,000 30,000 13,320 30,000 19,818 21,106 19,453 20,000 15,894 8,785 12,335 20,000 10,000 2,900 10,000 - - Profit After Tax
Slide 13: Financial Parameters (Standalone)
Financial Parameters (Standalone) Revenue EBITDA(1) (INR mn) (INR mn) 40,000 35,662 36,720 29,102 29,654 40,000 35,000 30,000 30,000 25,000 17,010 20,000 20,000 15,000 9,415 9,398 6,440 6,171 6,899 8,434 8,535 10,000 2,277 10,000 1,323 5,000 - - Profit After Tax(2) Average Capital Employed(3) RoE (%
Slide 14: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in INR million) Consolidated Standalone Key Parameters 9MFY15 9MFY14 % Change 9MFY15 9MFY14 % Change Revenue 50,175 47,577 5% 27,188 24,264 12% Other Income 2,383 933 155% 2,465 1,476 67% EBITDA 19,453 16,004 22% 9,398 6,790 38% EBITDA Margin 37% 33% 32
Slide 15: Standalone Revenue & Expenses
Standalone Revenue & Expenses Revenue Expenses (in INR million) (in INR million) 40,000 40,000.00 30,000 30,000.00 3,274 6,390 20,000 20,000.00 20,865 1,014 10,000.00 15,815 17,564 10,000 17,082 8,713 7,883 - - 9M Dec 13 9M Dec 14 QE Dec 14 9M Dec 13 9M Dec 14 QE Dec 14 Constr Income Fee Income O&M
Slide 16: Consolidated Revenue & Expenses
Consolidated Revenue & Expenses Revenue Expenses (in INR million) (in INR million) 60,000 60,000 50,000 1,441 50,000 8,402 9,434 40,000 6,779 8,006 40,000 30,000 3,090 30,000 20,000 30,137 29,459 3,502 10,000 12,183 20,000 22,513 21,575 - 10,000 9,737 9M Dec 13 9M Dec 14 QE Dec 14 - 9M Dec 13 9M Dec
Slide 17: Debt Equity Analysis
Debt Equity Analysis Standalone Consolidated (in INR million) (in INR million) 5.00 5.00 222,517 4.50 211,773 197,574 4.50 200,000 200,000 188,165 4.00 3.81 4.00 3.68 3.50 150,000 150,000 3.76 3.50 3.00 3.49 3.00 100,000 2.50 100,000 2.50 64,339 2.00 1.55 46,241 48,832 57,816 50,038 56,689 57,520 58
Slide 18: In the Works…
In the Works… Capital Works remaining to be executed (ITNL proportionate share) (In INR million as on 31-Dec-2014) Of current projects 1,24,332 Of projects during last quarter Total of Capital Works remaining to be executed 1,24,332 Non Road Uttar PradeshAndhra Pradesh Project Projects 11.24% Jharkh
Slide 19: Revenue Collection on Operational Road Projects
Revenue Collection on Operational Road Projects Not adjusted for ITNL’s stake (All figures in INR million) Average Daily Toll Collection Toll Projects under Operation In Q4 FY 14 In Q1 FY 15 In Q2 FY 15 In Q3 FY 15 Ahmedabad Mehsana Road (Gujarat) 1.75 2.13 1.99* 2.15 Vadodra Halol Road (Gujarat) 1.
Slide 20: BOT Toll Revenue Growth
BOT Toll Revenue Growth INR in million Toll Revenue Sr.No Name of the Project 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 start date Ahmedabad Mehsana Road 1 Feb-03 (Gujarat) 614 660 747 850 1,037 1,067 1075 Vadodra Halol Road 2 Oct-00 (Gujarat) 3 Noida Toll Bridge (UP) Feb-01 547 659 70
Slide 21: IL&FS - Strong Parentage
IL&FS - Strong Parentage IL&FS Overview Incorporated in 1987 as a JV between the Central Bank of India (CBI), Our Parent Shareholding IL&FS Shareholding Housing Development Finance Corporation Limited (HDFC) and Unit Trust of India (UTI) to commercialize infrastructure projects and work with publi
Slide 22: Experienced Board of Directors
Experienced Board of Directors Independent Directors Non-Independent Directors Name Designation / Background Name Designation Mr Deepak Mr Ravi Chairman, IL&FS Chairman; Former Chairman, NHAI Parthasarthy Dasgupta Mr Hari Sankaran Vice Chairman and MD, IL&FS Mr RC Sinha Former Vice Chairman & MD, Ma
Slide 23: Key Managerial Personnel
Key Managerial Personnel K. Ramchand • He has over 32 years of experience in urban and transport infrastructure development sector Managing Director Mukund Sapre • He has over 28 years of experience in the industry. Executive Director Harish Mathur • Has over 33 years of experience in various road c
Slide 24: Road Projects
Road Projects
Slide 25: Projects Under Operation
Projects Under Operation North Karnataka West Gujarat Expressway Vadodara Halol Toll Road Ahmedabad - Mehsana Name of Project Noida Toll Bridge (NTBCL) Expressway Limited (NKEL) Limited (WGEL) (GRICL) Road (GRICL) Authority NHAI NHAI NOIDA Govt. of Gujarat Govt. of Gujarat State Karnataka Gujarat De
Slide 26: Projects Under Operation
Projects Under Operation Andhra Pradesh Expressway Thiruvananthapuram City Roads Narketpally - Addanki (NAMEL) Mega Highways Project Rajasthan Name of Project (APEL) (Phase I & II) (TRDCL) (RIDCOR) Phase I & II Authority NHAI KRFB Govt. of Andhra Pradesh Govt. of Rajasthan State Andhra Pradesh Keral
Slide 27: Projects Under Operation
Projects Under Operation Jharkhand Accelerated Road East Hyderabad Expressway Hazaribagh Ranchi Expressway Pune Sholapur Road Development Name of Project Development Programme Ltd (EHEL) Limited (HREL) Company Limited (PSRDCL) (JRPICL) Authority HUDA GOJ NHAI NHAI State Andhra Pradesh Jharkhand Jhar
Slide 28: Projects Under Operation
Projects Under Operation Name of Project Beawar Gomti Road (IRIDCL) Moradabad to Bareilly (MBEL) Chandrapur Warora (WCBTRL) Authority Department of Road Transportation and NHAI PWD, Maharashtra Highways, GOI State Rajasthan Uttar Pradesh Maharashtra Concession Type Toll Toll Toll Project (Lane Km) 2
Slide 29: Status – Project under Construction
Status – Project under Construction Construction Progress Scheduled Project Completion Date TRDCL III May-15 ** JSEL Mar-15 # ** Projects getting operational CNTL May-16 over the next 18 Months MPBCDCL^ Jun-15 BKEL Jun-15 SBEL May-15 RB TBF* RIDCOR III MB TBF* KSEL Aug-16 IRIDCL-II TBF* KNC Nov-16 B
Slide 30: Project Under Construction
Project Under Construction Name of Project Thiruvananthapuram City Roads (Phase II & III) (TRDCL) Beawer Gomti (Additional) Authority KRFB MoRTH State Kerala Rajasthan BOT Type Annuity Toll Project (Lane Km) 39 217 Project Cost (Rs Mn) 613 13600 Debt Outstanding as at December 31, 2014 (Rs. Mn) 713
Slide 31: Project Under Construction
Project Under Construction Jorabat Shillong Jharkhand Accelerated Road Development Name of Project Chennani - Nashri (CNTL) (JSEL) Programme (JRPICL) Authority NHAI NHAI Govt of Jharkhand State Jammu & Kashmir Assam & Meghalaya Jharkhand BOT Type Annuity Annuity Annuity Project (Lane Km) 38 262 137
Slide 32: Project Under Construction
Project Under Construction Mega Highways Project, Rajasthan Name of Project Baleshwar Kharagpur Road (BKEL) Sikar Bikaner (RIDCOR) III Authority NHAI PWD, Rajasthan Govt. of Rajasthan State West Bengal & Rajasthan Rajasthan Orissa BOT Type Toll Toll Toll Project (Lane Km) 477 540 366 Project Cost (R
Slide 33: Project Under Construction
Project Under Construction Name of Project Barwa Adda Panagarh Khed Sinnar Kiratpur Ner Chowk (KNEL) Authority NHAI NHAI NHAI State Jharkhand & Maharashtra Himachal Pradesh West Bengal BOT Type Toll Toll Toll Project (Lane Km) 727 557 327 Project Cost (Rs Mn) 24349 20153 22910 Debt Outstanding as at
Slide 34: Project Under Development
Project Under Development Name of Project Srinagar Sonmarg Tunnelway Limited Authority BRO State Jammu & Kashmir BOT Type Annuity Project (Lane Km) 34 Project Cost (Rs Mn) 32000 Debt Outstanding as at December 31, 2014 (Rs. Mn) 505 GRANT (Rs. Mn) - Appointed Date - Expected Construction Completion D
Slide 35: Glossary
Glossary Acronym Full Form IL&FS Infrastructure Leasing and Financial Services ITNL IL&FS Transportation Networks Limited SPV Special Purpose Vehicle BOT Build Operate Transfer HUDA Haryana Urban Development Authority COD Commercial Operation Date NHDP National Highway Development Plan SARDP Special
Slide 36: Glossary
Glossary Acronym Full Form JARDP/JRPICL Jharkhand Accelerated Road Development Programme / Jharkhand Road Projects Implementation Company Limited RPR II (Part of JRPICL I) Patratu Dam – Ramgarh Road CKC (Part of JRPICL II) Chaibasa Kandra Chowka Road CNTL Chenani Nashri Tunnelway Limited WCBTRL Waro
Slide 37: Glossary
Glossary Acronym Full Form NKEL North Karnataka Expressway Limited APEL Andhra Pradesh Expressway Limited HREL Hazirabagh Ranchi Expressway Limited EHEL East Hyderabad Expressway Limited GRICL Gujarat Road and Infrastructure Company Limited WGEL West Gujarat Expressway Limited NTBCL Noida Toll Bridg
Slide 38: 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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