Indraprastha Gas Limited · NSE:IGL
Indraprastha Gas — Investor Presentation (May 2018)
26 slides from Indraprastha Gas's investor presentation, May 30, 2018
Slide 1: Indraprastha Gas Limited: An Overview
INDRAPRASTHA GAS LIMITED An Overview 1 30.05.2018 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 IGL started its operations in NCT of Delhi in 1999 with only 9 CNG stations and 1000 PNG consumers Today IGL has its operations in NCT of Delhi, Noida, Greater Noida and Ghaziaba
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 - 9% Indian Financial Institutions & Banks - 1% Insurance Companies - 6% Public / Others - 13% 1% 6% 13% 45% 9% 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. The company is beneficiary of its strong parentage and gets significant support from GAIL and BPCL relating to operations and management. By
Slide 5: Areas of Operation
Areas of Operation Delhi: National capital of India has huge demand potential: where all public transport vehicles have to be 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 popula
Slide 6: New Geographical Areas
New Geographical Areas IGL has started sale of CNG at two 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. IGL has recently got entry into Gurugram to lay infrastructure; Initially the permission has be
Slide 7: Segment-wise Sales Volume
Segment-wise Sales Volume Comm./ Ind. 11% Sale to other CGD Cos. 9% Residential 6% CNG 74% 1 7
Slide 8: Sales Volumes
Sales Volumes Figures in MMSCM FY13 FY14 FY15 FY16 FY17 FY18 CNG 1,005 1,028 1,073 1,123 1,269 1,412 PNG 333 356 330 342 406 479 Total 1,338 1,384 1,403 1,465 1,675 1,891 Sale Daily Average 3.67 3.79 3.84 4.00 4.59 5.18 Sale 1 8
Slide 9: 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 10: Gas Consumption Mix
Gas Consumption Mix PMT Non-APM 17% 12% RLNG 12% APM 59% 1 10
Slide 11: Growth in CNG
Growth in CNG March' March' March' March' March' March' PARAMETER UNIT 13 14 15 16 17 18 No. of CNG Nos 324 325 326 340 421 446 Stations Compression (Lakh 63.83 66.17 68.49 68.59 74.00 76.05 Capacity kg/day) Average CNG (Lakh 20.72 21.20 22.07 22.79 25.24 27.89 Sale kg/day) 1 11
Slide 12: CNG Station Network
CNG Station Network Figures in numbers DTC/ STATION IGL OMC TOTAL UPSRTC Online 144 56 203 403 Daughter Booster 0 0 41 41 Daughter 0 0 2 2 Total 144 56 246 446 1 12
Slide 13: 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'1 M a rc h'1 13 14 15 16 7 8 B us e s 18 8 2 6 19 5 6 6 19 4 2 1 19 2 7 2 2 15 0 0 2 2 10 0 A ut o / LG 2 0 7 9 14 2 2 0 3 9 1 2 4 15 4 0 259500 277972 294900 V/ R T V C a rs / T a xi 4 6 0 9 2 6 5 14 8 0 1 5 5 6 15 6 5
Slide 14: PNG Users
PNG Users Figures in numbers March' CATEGORY March' 13 March' 14 March' 15 March'17 March'18 16 Domestic 386696 459467 560752 636318 742205 892309 Commercial/ Industrial 1382 1876 2292 2580 2870 3429 Total 388078 461343 563044 638898 745075 895738 1 14
Slide 15: PNG Network
PNG Network Figures in kilometers March March March' March' March CATEGORY March'18 '13 '14 15 16 '17 Steel Pipeline 631 658 681 707 778 919 MDPE 7783 8438 8966 9444 9940 10755 Pipeline Total 8414 9096 9647 10151 10718 11674 1 15
Slide 16: Standalone Financial Data
Standalone Financial Data Rs./Crores FY13 FY14 FY15 FY16 FY17 FY18 # GROSS TURNOVER 3724 4319 4049 4052 4205 5053 Total Comprehensive 354 360 438 419 570 671 Income EPS (Rs./share) 25 26 31 30 41 10 Book Value (Rs./Share) 107 126 157 180 209 50 # Equity shares of Rs.10 each has been split into Five
Slide 17: Cumulative Capex
Cumulative Capex (Rs. in crores) 5000 4521 4500 3991 4000 3654 3430 3500 3236 3010 3000 2642 2500 2000 1500 1000 500 0 FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 FY'18 1 17
Slide 18: 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# # Subject to Shareholders’ approval 1 18
Slide 19: 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 20: Consolidated Results
Consolidated Results The standalone and consolidated financial results for the FY 2017-18 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 670.58 721.44 Crores EPS * Rs./Share 9.58 10.31 * Based on
Slide 21: 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 22: 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 23: 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 24: DDA Case
DDA Case Delhi Development Authority (DDA) has raised a total demand of Rs.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 Apr
Slide 25: 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 26: Thank You
THANK YOU 1 26