Indraprastha Gas Limited · NSE:IGL
Indraprastha Gas — Investor Presentation (May 2019)
27 slides from Indraprastha Gas's investor presentation, May 2019
Slide 1: Indraprastha Gas Limited: An Overview
INDRAPRASTHA GAS LIMITED An Overview 1 May 2019 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. The company was listed in stock exchange in December 2003. IGL started its operations in NCT of Delhi in 1999 with only 9 CNG stations and 1000 PNG consumers Today IGL has its o
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 - 8% Indian Financial Institutions & Banks - 1% Insurance Companies - 9% Public / Others - 11% 11% 9% 1% 45% 8% 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 (Presently there are two independent directors). The company is beneficiary of its strong parentage and gets significant support from GAIL an
Slide 5: Areas of Operation
Areas of Operation Delhi: National capital of India has huge demand potential: where public transport vehicles have to 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 populated hav
Slide 6: New Geographical Areas
New Geographical Areas IGL has started sale of CNG at four OMCs outlets in Rewari and sale of PNG to Domestic households. IGL plans to add ~6 more CNG outlets and to connect 1500 Domestic households in FY19. Supply of gas has been started in areas of Bawal and Dharuhera. IGL has recently got ent
Slide 7: Segment & Current Sales Volume Mix
Segment & Current Sales Volume Mix Comm./ Sale to other Ind. CGD Cos. 12% 8% Residential 6% CNG 74% 1 7
Slide 8: Sales Volumes
Sales Volumes Figures in MMSCM FY14 FY15 FY16 FY17 FY18 FY19 CNG 1,028 1,073 1,123 1,269 1,412 1,602 PNG 356 330 342 406 479 553 Total 1,384 1,403 1,465 1,675 1,891 2,155 Sale Daily Average 3.79 3.84 4.00 4.59 5.18 5.91 Sale 1 8
Slide 9: Volume Trend
Volume Trend (All figures in MMSCMD) 7.00 CAGR for 5 years – 8.97% 6.00 5.91 0.50 5.18 0.15 5.00 0.45 0.54 4.59 0.13 0.33 0.38 0.43 4.01 0.12 4.00 3.84 0.30 0.26 0.35 0.28 0.12 0.26 0.11 0.32 0.33 0.24 3.00 0.19 4.39 2.00 3.87 3.48 2.94 3.08 1.00 0.00 FY 2014-15 FY 2015-16 FY 2016-17 FY 2017-18 FY 2
Slide 10: 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 80% of the total
Slide 11: Current Gas Mix
Current Gas Mix PMT Non-APM 19% 8% RLNG 12% APM 61% 1 11
Slide 12: Growth in CNG
Growth in CNG March' March' March' March' March' March' PARAMETER UNIT 14 15 16 17 18 19 No. of CNG Nos 325 326 340 421 446 500 Stations Compression (Lakh 66.17 68.49 68.59 74.00 76.05 84.25 Capacity kg/day) Average CNG (Lakh 21.20 22.07 22.79 25.24 27.89 31.34 Sale kg/day) 1 12
Slide 13: CNG Station Network
CNG Station Network Figures in numbers DTC/ STATION IGL OMC DODO TOTAL UPSRTC Online 134 78 228 6 446 Daughter 0 0 52 0 52 Booster Daughter 0 0 2 0 2 Total 134 78 282 6 500 1 13
Slide 14: CNG Vehicles
CNG Vehicles Figures in numbers M a rc h M a rc h M a rc h M a rc h M a rc h M a rc h '14 '15 '16 '17 '18 '19 B us e s 19 5 6 6 19 4 2 1 19 2 7 2 2 15 0 0 22900 24850 A ut o / LG 2 2 0 3 9 1 2 4 15 4 0 259500 277972 294900 304700 V/ R T V C a rs / T a xi 5 14 8 0 1 5 5 6 15 6 589801 6 7 2 2 15 70990
Slide 15: PNG Users
PNG Users March' March' March' March March March CATEGORY UOM 14 15 16 '17 '18 '19 Domestic Lakhs 4.59 5.61 6.36 7.42 8.92 11.02 Commercial/ Nos 1876 2292 2580 2870 3593 4337 Industrial 1 15
Slide 16: PNG Network
PNG Network Figures in kilometers March' March' March' March' March' March' CATEGORY 14 15 16 17 18 19 Steel 658 681 707 778 919 1006 Pipeline MDPE 8438 8966 9444 9940 10755 12023 Pipeline Total 9096 9647 10151 10718 11674 13029 1 16
Slide 17: Standalone Financial Data
Standalone Financial Data Rs./Crores FY14 FY15 FY16 FY17 FY18 # FY19 # GROSS TURNOVER 4319 4049 4025 4164 4994 6337 Total Comprehensive 360 438 419 570 671 786 Income EPS (Rs./share) 26 31 30 41 10 11 Book Value (Rs./Share) 126 157 180 209 50 59 # Equity shares of Rs.10 each has been split into Five
Slide 18: Cumulative Capex (Rs. in crores)
Cumulative Capex (Rs. in crores) 6000 5259 5000 4521 3991 4000 3654 3430 3236 3010 3000 2000 1000 0 FY'13 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 1 18
Slide 19: Dividend
Dividend Dividend Policy provides liberal payout Track record of last five years Year % of equity FY 14 55 FY 15 60 FY 16 60 FY 17 85* FY 18 100 *Including interim dividend 1 19
Slide 20: 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. 68 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 21: Consolidated Results
Consolidated Results The standalone and consolidated financial results for the FY 2018-19 with the Associates i.e. CUGL & MNGL on equity method considering 50% share in profit are as under. Parameter Unit Standalone Consolidated PAT Rs. In 786 841 Crores EPS * Rs./Share 11 12 * Based on Equity sha
Slide 22: 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 23: 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 24: Risks & Mitigations
Risks & Mitigations Gas price CNG & PNG-Residential prices 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 Govt. o
Slide 25: DDA Case
DDA Case Delhi Development Authority (DDA) has raised a total demand of ₹155.64 crores during 2013-14 on account of increase in license fees in respect of sites taken by the Company on lease from DDA for setting up CNG stations in Delhi. The increase in license fees was related to the period 1 April
Slide 26: 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 27: Thank You
THANK YOU 1 27