Bharat Road Network Ltd. · NSE:BRNL
Bharat Road Network — Q4 FY18 Earnings Presentation
27 slides from Bharat Road Network's earnings presentation, May 2018
Slide 1: Result Update | May 2018
A Initiative BEHTAR RAASTE BADHTA BHARAT Result Update | May 2018
Slide 2: Safe Harbour
Safe Harbour This presentation and the accompanying slides (the “Presentation”), which have been prepared by Bharat Road Network Limited (the “Company”) solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shal
Slide 3: Q4 & FY18 Financial Performance (Standalone)
Q4 & FY18 Financial Performance (Standalone) BRNL Revenue EBITDA SPV Toll Revenue (Rs. Mn) (Rs. Mn) (Rs. Mn) 642 5,979 493 4,570 243 167 167 1,501 1,570 113 27 21 Q4FY17 Q4FY18 FY17 FY18 Q4FY17 Q4FY18 FY17 FY18 Q4FY17 Q4FY18 FY17 FY18 3
Slide 4: Key Developments Since IPO
Key Developments Since IPO PORTFOLIO CONSOLIDATION : ACQUISITION OF BALANCE STAKE IN THE GIPL Acquisition of 51% stake in Guruvayoor Infrastructure Pvt Ltd from KMC FAVOURABLE ARBITRATION CLAIM AWARD SJEPL - Received favourable arbitration award of Rs. 1040 mn in Sep-17 INCREASING FINANCIA
Slide 5: Agenda
Agenda BRNL – Company Overview Project Portfolio Financial Performance & Quarter Highlights 5
Slide 6: BRNL – Company Overview
BRNL – Company Overview 6
Slide 7: BRNL - India's leading BOT Road Developer
BRNL - India’s leading BOT Road Developer Promoted by Srei India’s leading holistic infrastructure institution with AUM of ~ INR 470 Bn Existing portfolio of 6 BOT projects Diversified portfolio spread across states of Uttar Pradesh, Kerala, Haryana, Madhya Pradesh, Maharashtra and Odisha Partnershi
Slide 8: Riding on Road towards Growth
Riding on Road towards Growth Acquisition of balance 51% stake in Guruvayoor Infrastructure Private Ltd. 2016 – 2018 IPO Shares listed on NSE and BSE Awarded SJEPL BOT road projects in Odisha 2011 – 2015 Awarded STPL project Next Level of Growth Commercial Operation of MTPL, GIPL and KEPL project In
Slide 9: Diversified Project Portfolio
Diversified Project Portfolio 6 PROJECTS OF INR 68 bn AGGREGATING TO TOTAL 2,095 LANE KM BRNL Partners Existing BOT Projects Project Cost BRNL stake State NH/SH Lane (Km) Investment Investment# (As on March’18) (Rs. Mn) (%) (Rs. Mn) (Rs. Mn) Shree Jagannath Expressways (SJEPL) Odisha NH-5 401 18,711
Slide 10: Our Key Strengths
Our Key Strengths ATTRACTIVE ASSET PORTFOLIO WITH LONG RESIDUAL LIFE • 5 out of 6 Assets already operational; 6th to commence operations by Dec 2018 • Young Assets with average residual period of ~18 years* STRONG AND EXPERIENCED CORPORATE PROMOTER • SREI – one of India’s leading infrastructure fina
Slide 11: Growth Drivers
Growth Drivers ENHANCE STAKE IN ASSETS AND •Consolidate ownership in existing assets INORGANIC GROWTH •Leverage core competencies by way of acquisition of cash generating assets OPTIMIZE FINANCIAL STRUCTURE •Exploring options for refinancing to lower borrowing costs and improve cash flows •Pick up i
Slide 12: Project Portfolio
Project Portfolio 12
Slide 13: Project Snapshot
Project Snapshot … Asset details SJEPL GAEPL GIPL KEPL MTPL STPL State Odisha U.P. Kerala Haryana M.P Maharashtra NH/SH no. NH-5 NH-91 NH-47 NH-71 SH-27 NH-9 Asset details BRNL stake 40.00% 39.00% 100% $ 49.00% 48.00% 99.02% Simplex -34%; PNC -35%; Varaha -13.26% Other shareholders group N.A JMC and
Slide 14: SJEPL - Shree Jagannath Expressways Pvt. Limited
SJEPL - Shree Jagannath Expressways Pvt. Limited #1 : 6 Laning of Chandikhole Bhubaneswar Section of NH-5 Link for Map view Project Snapshot Located on the NH-5 between Chandikhol and Bhubaneswar End point of the project a major intersection, NH-200 & NH-5A cross NH-5 NH-200 connects Daiteri m
Slide 15: GAEPL - Ghaziabad Aligarh Expressways Pvt. Ltd.
GAEPL - Ghaziabad Aligarh Expressways Pvt. Ltd. Link for Map view #2 : 4/6 Laning of Ghaziabad-Aligarh Section of NH – 91 Project Snapshot Located on the NH-91, connects Ghaziabad to Aligarh in UP Ghaziabad is hub of engineering, electronics, and leather and textile goods Aligarh is an importa
Slide 16: GIPL - Guruvayoor Infrastructure Pvt. Ltd.
GIPL - Guruvayoor Infrastructure Pvt. Ltd. #3 : 4 Laning of Thrissur – Angamali, NH47 Link for Map view Project Snapshot GIPL Project Road is a part of NH-47 which originates at Kanyakumari and ends at Salem Connects Kochi, Thrissur and Coimbatore; runs in proximity to Cochin Refinery & Cochin P
Slide 17: KEPL - Kurukshetra Expressway Private limited
KEPL - Kurukshetra Expressway Private limited #4 : 4 Laning of Rohtak-Bawal section of NH-71 Link for Map view Project Snapshot Part of NH-71, starts atJalandhar & ends NH-8 near Bawal; connects Moga, Sangrur & Rohtak Development activity MBIR, investment region selected in 1st phase of DMIC, is
Slide 18: MTPL - Mahakaleshwar Tollways Private Limited
MTPL - Mahakaleshwar Tollways Private Limited #5 : 4 Laning of Indore – Ujjain Road on SH-27 Link for Map view Project Snapshot Connects Rajasthan in north & Maharashtra in south, cities Ujjain, Indore & Pitampur Indore, largest and most populous city in Madhya Pradesh qualified for Smart Cities
Slide 19: STPL - Solapur Tollways Private Limited
STPL - Solapur Tollways Private Limited #6 : 4 Laning of Solapur Maharashtra/Karnataka Border Section of NH9 Link for Map view Project Snapshot Connects west & east passing major cities such as Vijayawada, Hyderabad, Pune NH-9 & Mumbai-Pune Exp Highway intersect at Pune Provide connectivity to
Slide 20: Financial Performance & Quarter Highlights
Financial Performance & Quarter Highlights 20
Slide 21: Q4 & FY18 Result Highlights (Standalone)
Q4 & FY18 Result Highlights (Standalone) Rs. Mn Particulars Q4FY18 Q4FY17 YoY Q3FY18 QoQ FY18 FY17 YoY Total Income from Operations 126.9 32.0 297% 30.0 333.3 142.8 133% Other Income 116.6 (5.1) 184.2 308.4 24.5 REVENUE 243.5 26.9 805% 214.2 14% 641.7 167.3 284% Operating Expenses 76.3 5.9 28.9 149.
Slide 22: Profitability Trend (Consolidated)
Profitability Trend (Consolidated) Rs. Mn FY18 FY17 FY16 FY15 Particulars As per IND AS As per IGAAP Total Income from Operations 1,532.1 14,15.2 7.5 84.3 Other Income 975.1 12.6 35.0 0.0 REVENUE 2,507.2 1,427.8 42.5 84.3 Operating Expenses 1,090.4 1,148.1 36.6 93.3 EBITDA 1,416.8 279.7 5.9 (9.0) EB
Slide 23: Balance sheet Highlights (Consolidated-IND AS)
Balance sheet Highlights (Consolidated-IND AS) Rs. Mn Particulars March 31, 2018 March 31, 2017 Particulars March 31, 2018 March 31, 2017 Non-current assets 21,633.8 11,670.5 Shareholder’s Fund 11,752.4 4,725.5 Current assets 4,060.7 636.9 Total Borrowings 10,044.7 5,582.0 Current Investment 1,388.8
Slide 24: Toll collection Trend
Toll collection Trend Rs. Mn Project SJEPL - Shree Jagannath Expressways Pvt. Limited GAEPL - Ghaziabad Aligarh Expressways Pvt. Limited Period FY16 FY17 FY18 YoY Growth FY16 FY17 FY18 YoY Growth Q1 203 230 356 55% 25 344 478 39% Q2 197 226 344 52% 306 330 444 35% Q3 209 211 * 378 79% 336 366 * 512
Slide 25: Operating Assets Performance- SPV at100%
Operating Assets Performance- SPV at100% Rs. Mn Q4 FY18 FY18 FY17 Particulars GAEPL GIPL KEPL MTPL SJEPL TOTAL GAEPL GIPL KEPL MTPL SJEPL TOTAL GAEPL GIPL KEPL MTPL SJEPL TOTAL Total Revenue 536 395 301 77 768 2,077 2,177 1,444 1,090 272 2,071 7,054 2,449 1,239 922 186 1,509 6,306 Toll Revenue 500 3
Slide 26: Operating Assets Performance - SPV Proportionate
Operating Assets Performance -SPV Proportionate Rs. Mn Q4 FY18 FY18 FY17 Particulars GAEPL GIPL KEPL MTPL SJEPL GAEPL GIPL KEPL MTPL SJEPL GAEPL GIPL KEPL MTPL SJEPL TOTAL TOTAL TOTAL 39% 73.99%# 49% 48% 40% 39% 73.99%# 49% 48% 40% 39% 49% 49% 48% 40% Total Revenue 209 292 147 37 307 992 849 1068 53
Slide 27: Let's Connect
Let’s Connect Company : Investor Relations Advisors : Stellar IR Advisors Pvt. Ltd. Bharat Road Network Limited Mr. Vikash Verma / Mr. Abhishek Bhatt Mr. Sanjay Mittal Vikash.verma@stellar-ir.com / abhishek@stellar-ir.com sanjay.mittal@brnl.in B-707, Kanakia Wall Street, Andheri (East), Mumbai 400 0