Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — FY2015 Earnings Presentation
37 slides from Il&fs Transportation Networks's earnings presentation, May 15, 2015
Slide 1: IL&FS Transportation Networks Limited Analyst Presentation – May 2015
IL&FS Transportation Networks Limited Analyst Presentation – May 2015 May 15, 2015 CIN - L45203MH2000PLC129790
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 (73.56%) APEL (100%1) WGEL (74%) RMGL (82.81%) IOPL , Singapore (100%) ITNL International Pte Ltd , NTBCL (25.35%) RMGSL (82.81%) TRDCL (50%) Singapore (100%) IRIDCL (100%) MPBC
Slide 7: Portfolio: Road Projects
Portfolio: Road Projects Khed SSTL • Diverse BOT portfolio of 27 road projects covering 12,838 lane km spread across several states in India Barwa Adda Sinnar Panagarh • Diverse mix of “Annuity / assured payments” and “Toll” based projects in various stages of development Kiratpur Ner Kharagpur RIDC
Slide 8: Portfolio: Metro Rail
Portfolio: Metro Rail Gurgaon MetroRail Link: n Awarded by Haryana Urban Development Authority (HUDA) through Concession Agreement dated December 09, 2009 n Metro link from Delhi metro Sikanderpur station to NH-8 in Gurgaon – around 4.9 km n Concession period of 99 years n Started Commercial Operati
Slide 9: Portfolio: Other Concessions
Portfolio: Other Concessions MP Border Check Post Project – awarded by Madhya Pradesh Road Development Corporation Limited n ITNL stake 74%, 24 border check-post in MP to be developed and 2 central control facilities Border n 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 on April 30, 2015 BID PIPELINE RFP Stage (Post Qualification) RFQ Stage (Pre Qualification) Projects Length (km) Cost (INR Mn) Projects Length (km) Cost (INR Mn) NHAI 14 1,543 1,73,572 4 273 42,190 States 7 544 34,047 5 259 24,293 MORTH 1 14 90,900 - - - Metropolitan Transport 1
Slide 12: Financial Parameters (Consolidated)
Financial Parameters (Consolidated) Revenue EBITDA(1) (INR mn) (INR mn) 67,888 68,025 68,282 80,000 80,000 57,294 60,000 60,000 40,000 40,000 24,658 19,818 21,051 15,894 20,000 20,000 - - FY12 FY13 FY14 FY15 FY12 FY13 FY14 FY15 Profit After Tax(2) Average Capital Employed(3) (INR mn) RoE (%) (INR mn
Slide 13: Financial Parameters (Standalone)
Financial Parameters (Standalone) Revenue EBITDA(1) (INR mn) (INR mn) 35,662 36,720 38,818 40,000 40,000 29,102 30,000 30,000 20,000 20,000 11,321 6,899 8,434 8,535 10,000 10,000 - - FY12 FY13 FY14 FY15 FY12 FY13 FY14 FY15 Profit After Tax(2) Average Capital Employed(3) RoE (%) (INR mn) (INR mn) RoC
Slide 14: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in INR million) Consolidated Standalone Key Parameters FY15 FY14 % Change FY15 FY14 % Change Revenue 65,009 65,870 -1% 35,229 34,046 3% Other Income 3,274 2155 52% 3,589 2,674 34% EBITDA 24,658 21,051 17% 11,321 8,535 33% EBITDA Margin 36% 31% 29% 23% I
Slide 15: Standalone Revenue & Expenses
Standalone Revenue & Expenses Revenue Expenses (in INR million) (in INR million) 40,000.00 3,589 40,000 2,674 2,826 30,000.00 6,769 3,663 30,000 1,346 1,680 2,064 1,791 20,000.00 20,000 26,145 27,287 1,197 24,157 23,356 1,124 10,000 391 10,000.00 522 9,062 8,342 6,423 5,791 - - FY14 FY15 Q4FY14 Q4FY
Slide 16: Consolidated Revenue & Expenses
Consolidated Revenue & Expenses Revenue Expenses (in INR million) (in INR million) 70,000 1,973 70,000.00 2,155 3,274 60,000 11,149 60,000.00 12,474 50,000 50,000.00 10,702 4,222 11,114 4,141 5,272 1,441 40,000.00 40,000 4,591 8,774 30,000.00 7,771 30,000 41,464 20,000.00 29,836 20,000 37,067 25,990
Slide 17: Debt Equity Analysis
Debt Equity Analysis Standalone Consolidated (in INR million) (in INR million) 2.50 2,22,517 2,35,135 4.50 2,11,773 2,00,000 2,00,000 1,97,574 4.11 2.08 2.00 3.81 3.50 1.72 3.68 2.01 3.49 1,50,000 1,50,000 1.54 1.33 1.50 2.50 1,00,000 1,00,000 57,816 74391 58,452 57,192 64,339 56,689 57,520 36,631 4
Slide 18: In the Works…
In the Works… Capital Works remaining to be executed (ITNL proportionate share) (In INR million as on 31-March-2015) Of current projects 1,19,038 Of projects during last quarter Total of Capital Works remaining to be executed 1,19,038 Uttar Pradesh Andhra Pradesh Non Road Jharkhand & W 2.03% 1.56% P
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 Q1 FY 15 In Q2 FY 15 In Q3 FY 15 In Q4 FY 15 Ahmedabad Mehsana Road (Gujarat) 2.13 1.99* 2.15 2.26 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 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 2014-15 start date Ahmedabad Mehsana Road 1 Feb-03 (Gujarat) 660 747 850 1,037 1,067 1075 1197 2 Vadodra Halol Road (Gujarat) Oct-00 3 Noida Toll Bridge (UP) Feb-01 659 706 6
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 Pune Sholapur Road East Hyderabad Jharkhand Accelerated Road Development Hazaribagh Ranchi Name of Project Development Company Expressway Ltd (EHEL) Programme (JRPICL) Expressway Limited (HREL) Limited (PSRDCL) 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 May-15# ** Projects getting operational BKEL Jun-15 over the next 18 Months CNTL May-16 MPBCDCL^ Jun-15 SBEL Nov-15** RB TBF* RIDCOR III MB TBF* KSEL Aug-16 KNC Nov-16 IRIDCL-II TBF* B
Slide 30: Project Under Construction
Project Under Construction Thiruvananthapuram City Roads (Phase II Name of Project Beawer Gomti (Additional) Chennani - Nashri (CNTL) & III) (TRDCL) Authority KRFB MoRTH NHAI State Kerala Rajasthan Jammu & Kashmir BOT Type Annuity Toll Annuity Project (Lane Km) 39 217 38 Project Cost (Rs Mn) 613 138
Slide 31: Project Under Construction
Project Under Construction Jorabat Shillong Name of Project Baleshwar Kharagpur Road (BKEL) Sikar Bikaner (JSEL) Authority NHAI NHAI PWD, Rajasthan State Assam & Meghalaya West Bengal & Rajasthan Orissa BOT Type Annuity Toll Toll Project (Lane Km) 262 477 540 Project Cost (Rs Mn) 8240 6600 9013 Debt
Slide 32: Project Under Construction
Project Under Construction Mega Highways Project, Rajasthan Name of Project Barwa Adda Panagarh Khed Sinnar (RIDCOR) III Authority NHAI NHAI Govt. of Rajasthan State Jharkhand & Maharashtra Rajasthan West Bengal BOT Type Toll Toll Toll Project (Lane Km) 727 557 366 Project Cost (Rs Mn) 24522 20153 6
Slide 33: Project Under Construction
Project Under Construction Name of Project Kiratpur Ner Chowk (KNEL) Srinagar Sonmarg Tunnelway Limited Authority NHAI BRO State Himachal Pradesh Jammu & Kashmir BOT Type Toll Annuity Project (Lane Km) 327 34 Project Cost (Rs Mn) 22910 32890 Debt Outstanding as at March 31, 2015 (Rs. Mn) (Long 6637
Slide 34: 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 35: 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 36: 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 37: 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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