Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — Q1 FY12 Earnings Presentation
23 slides from Il&fs Transportation Networks's earnings presentation, Aug 5, 2011
Slide 1: IL&FS Transportation Networks Limited Analyst Presentation – August 2011
IL&FS Transportation Networks Limited Analyst Presentation – August 2011 August 05, 2011
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… y Company Overview y Key y Differentiators y The ITNL Group y Project j Portfolio y Recent Project Awards and Financial Closures y Project Pipeline y Road Sector Opportunity y Financial Performance Parameters y Key Quarterly Financial Parameters of Q1FY12 y Capital Works Remain
Slide 4: An Introduction
An Introduction IL&FS Transportation Networks Limited (ITNL) has the largest BoT road asset portfolio (in terms of lane kilometer) in India Jammu & Kashmir ITNL has a pan India presence with projects in around 14 states PAN India presence with Promoted by Infrastructure Leasing and Financial S
Slide 5: Key Differentiators
Key Differentiators Market Leadership in the Transportation Infrastructure Sector • With around 9,500 lane km comprised in 20 projects in its road assets portfolio • Forays into other surface transportation sub‐sectors like metro, bus & border check‐post Track Record of Successful Project Implementa
Slide 6: ITNL Group
1 ITNL Group IL&FS Transportation Networks Limited As at June 30, 2011 83.61% GRICL 25 35% 25.35% NTBCL Operating Subsidiaries 87.00%* NKEL 100.00%* WGEL 57.50% 100.00% 50.00%* RIDCOR CO 50.00% TRDCL 100.00%* IERS Elsamex SA APEL 74.00%* CHDCL 74.00%* JARDCL 48.00% 100.00%* JRPICL 74.00% EHEL 20 sub
Slide 7: Portfolio: Road Projects
Portfolio: Road Projects • Diverse BOT portfolio of 20 road projects covering ~9,500 lane km spread across various states of India • Fair mix of “Annuity / assured payments” and “Toll” based projects in various stages of development Jharkhand Road Development‐II Chenani Shillong Narketpally Nashri J
Slide 8: Portfolio: Non Road Projects
Portfolio: Non Road Projects Metro Rail Project – awarded by Haryana Urban Development Authority (HUDA) Metro Metro link from Delhi metro Sikanderpur station to DLF Cyber City on NH‐8 in Gurgaon Rail Project Cost of ~ `1100 cr with a concession period of 99 years ‐ ITNL stake in the project ~54%
Slide 9: Recent Project Awards & Financial Closures
Recent Project Awards & Financial Closures ITNL Secured projects worth around ` 80 billion each year Debt Tied-up in the last 2 financial years BOT Length g Estimated Cost Debt tied‐up Project Authority Type (lane km) ( ` Million) Project ( ` Million) Road Sector Ranchi to Hazaribagh 7,382 Ranchi to
Slide 10: Project Pipeline for FY12
Project Pipeline for FY12 BID PIPELINE RFP Stage (Post Qualification) RFQ Stage (Pre Qualification) Projects Length (km) Cost (` Mn) Projects Length (km) Cost (` Mn) NHAI 5 574 45,058 66 7,658 6,00,933 MORTH 2 192 5,580 1 80 16,000 STATE PROJECTS 8 712 54,622 29 3,410 1,86,921 Total 15 1,478 1,05,26
Slide 11: Road Sector Opportunity
Road Sector Opportunity Government plans to Award USD 50 billion of Road Projects in FY11 – Private Sector to fund ~70% In the envisaged XIIth Five Year Plan, the Government targets to NHAI has targeted award of around 7,300 km in FY12 mobilize bl l large investments in transportation infrastructure
Slide 12: Financial Parameters (Consolidated)
Financial Parameters (Consolidated) Revenue EBITDA(1) (` mn) (` mn) 50000 14000 12,335 41,274 12000 40000 10000 8,785 30000 24,873 8000 20000 13,320 6000 11,156 2,900 3,537 4000 2,489 10000 1 981 1,981 4,375 960 2000 0 0 FY07 FY08 FY09 FY10 FY11 Q1 FY12 FY07 FY08 FY09 FY10 FY11 Q1 FY12 Profit After
Slide 13: Financial Parameters (Standalone)
Financial Parameters (Standalone) Revenue EBITDA(1) (` mn) 17,010 (` mn) 18000 8000 6,440 6,171 15000 6000 12000 9,415 9000 4000 5,484 1,599 6000 2,499 2,277 2000 1,358 1,323 1,649 796 3000 0 0 FY07 FY08 FY09 FY10 FY11 Q1 FY12 FY07 FY08 FY09 FY10 FY11 Q1 FY12 Profit After Tax((2)) Average Capital Em
Slide 14: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in ` million) Consolidated Standalone Key Parameters Q1 FY12 Q1 FY11 Change Q1 FY12 Q1 FY11 Change Revenue 11,156 7,933 41% 5,484 2,535 116% EBITDA 3,537 2,787 27% 1,599 1,525 5% EBITDA Margin 32% 35% 29% 60% Interest* 1,426 1,055 35% 559 315 77% p Depr
Slide 15: Standalone Revenue & Expenses
5% Standalone Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 5% 6,000 6,000.00 25% 1,395 4,000 4,000.00 7% 63% 3,677 67% 2,000 1,606 2,000.00 3,378 25% 633 558 - - Q1 FY11 Q1 FY12 Q1 FY11 Q1 FY12 Constr Income Fee Income O&M Income Other Construction Cost Other Opex Employees cost
Slide 16: Consolidated Revenue & Expenses
Consolidated Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 12,500 12,500 11% 1,256 10,000 10% 14% 10,000 1,617 826 7,500 7,500 2,503 32% 1 012 1,012 5,000 7,527 5,000 54% 67% 1,477 4,312 5,174 2,500 2,500 2,152 - - Q1 FY11 Q1 FY12 Q1 FY11 Q1 FY12 Constr Income Elsamex Toll/Annuit
Slide 17: Debt Equity Analysis
Debt Equity Analysis Standalone Consolidated (in ` million) (in ` million) 80000 3.00 80,000 3.00 70000 70,000 2 66 2.66 2.50 60000 60,000 63,763 2.50 2.40 50000 2.00 50,000 54,670 40000 40 000 40,000 2 00 2.00 30000 1.50 30,000 1.06 1.09 20000 20,000 23,982 1.50 1.00 22,742 10000 18,469 10,000 17 8
Slide 18: In the Works…
In the Works… Capital Works remaining to be executed (ITNL proportionate share) (In ` million as on 30‐June‐11) Of p projects j awarded till last q quarter* 92,800 , Of projects where we have emerged as L‐1*** 1,600 Total of Capital Works remaining to be executed 94,400 Andhra Pradesh Uttar Pradesh
Slide 19: Revenue Collection on Operational Road Projects
Revenue Collection on Operational Road Projects Not adjusted for ITNL stake (All figures in ` million) Toll Projects under Operation Average Daily Toll Collection In FY10 In FY11 In Q1FY12 Ahmedabad Mehsana Road (Gujarat) 1.17 1.32 1.55 Vadodra Halol Road (Gujarat) 0.86 1.01 1.13 Noida Toll Bridge (
Slide 20: Value for Shareholders
Value for Shareholders Have consistently created we alth for our shareholders…. Public Issue Bessemer ` 5012 Cr* ` 4184 Cr* ((Mar, 2010)) Stanchart (Oct, 2009) IL&FS Fund ` 2280 Cr* Goldman (Mar, 2008) Sachs ` 1624 Cr* Trinity (Mar, 2007) p Capital ` 1542 Cr* (Dec, 2006) * Post money valuation 19
Slide 21: Experienced Board of Directors
Experienced Board of Directors Independent Directors Non‐Independent Directors Name Designation Name Designation Mr Ravi Parthasarthy Chairman, IL&FS Mr Deepak Dasgupta Chairman; Former Chairman, NHAI Mr Hari Sankaran Managing Director, IL&FS Mr RC Sinha Former Vice Chairman & MD, Mr Arun K Saha Joi
Slide 22: Key Managerial Personnel
Key Managerial Personnel K. Ramchand • He has over 30 years of experience in urban and transport infrastructure development sector Managing Director Mukund Sapre • He has over 27 years of experience in the industry. Executive Director Harish Mathur • Has over 33 years of experience in various road c
Slide 23: 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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