Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — Q3 FY2012 Earnings Presentation
24 slides from Il&fs Transportation Networks's earnings presentation, Feb 7, 2012
Slide 1: IL&FS Transportation Networks Limited Analyst Presentation – February 2012
IL&FS Transportation Networks Limited Analyst Presentation – February 2012 February 07, 2012
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 Differentiators y The ITNL Group y Project Portfolio y Recent Project Awards and Financial Closures y Project Pipeline y Road Sector Opportunity y Financial Performance Parameters y Ke Quarterly Key Q arterl Financial Parameters of Q3FY12 y Capital Work
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 15 states in India PAN India presence with Promoted by Infrastructure Leasing and Financial
Slide 5: Key Differentiators
Key Differentiators Market Leadership in the Transportation Infrastructure Sector • With around 10,000 lane km comprised in 21 projects in its road assets portfolio • Forays into other surface transportation sub‐sectors like metro, bus & border check‐post Track Record of Successful Project Implement
Slide 6: ITNL Group
1 ITNL Group IL&FS Transportation Networks Limited As at December 31, 2011 83.61% GRICL 25.35% NTBCL Other Subsidiaries 93.50%* NKEL 100.00%* WGEL 69.29% 100.00% 50.00%* RIDCOR 50.00% TRDCL 100.00%* APEL IERS IIPL 74.00%* 74.00%* CHDCL 48.00% Vs JARDCL 77.39% 22.61% 49% ROAD SPV 100.00%* 74.00% JRPI
Slide 7: Portfolio: Road Projects
Portfolio: Road Projects • Diverse BOT portfolio of 21 road projects covering 10,019 lane km spread across various states of India • Fair mix of “Annuity / assured payments” and “Toll” based projects in various stages of development 500000 Kiratpur Jharkhand Road Ner 12000 Shillong Development‐II Ch
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 Estimated Cost Debt tied‐up Project Authority Type (lane km) ( ` Million) Project ( ` Million) Road Sector Ranchi to Hazaribagh 7,382 Ranchi to H
Slide 10: Project Pipeline for FY12
Project Pipeline for FY12 As of January 31, 2011 BID PIPELINE RFP Stage (Post Qualification) RFQ Stage (Pre Qualification) Projects Length (km) Cost (` Mn) Projects Length (km) Cost (` Mn) NHAI 7 831 53 364 53,364 37 4 074 4,074 3 64 495 3,64,495 MORTH ‐ ‐ ‐ ‐ ‐ ‐ STATE PROJECTS 5 700 32,642 10 1,04
Slide 11: Road Sector Opportunity
Road Sector Opportunity ~23,000 km of award pending under NHDP – to be substantially executed under PPP NHAI has targeted award of around 7,300 km in FY12 Program Current rollout plan (in Km) NHDP‐III 1,274 NHDP IV NHDP‐IV 7 235 7,235 NHDP‐V 2,561 SARDP‐NE 81 Total 11,151 Approved Financing Plan of
Slide 12: Financial Parameters (Consolidated)
Financial Parameters (Consolidated) Revenue EBITDA(1) (` mn) (` mn) 41,274 14,000 12,335 45,000 40,000 , 36,169 10,870 12,000 , 35,000 10,000 8,785 30,000 24,873 25,000 8,000 20,000 13,320 6,000 15,000 2,489 2,900 4,000 10 000 10,000 4 375 4,375 960 1,981 2,000 5,000 - - FY07 FY08 FY09 FY10 FY11 9M
Slide 13: Financial Parameters (Standalone)
Financial Parameters (Standalone) Revenue EBITDA(1) (` mn) 17,361 (` mn) 17,010 6,440 18,000 7,000 6,171 16,000 6,000 , 14,000 4,637 12,000 5,000 9,415 10,000 4,000 8,000 3,000 6,000 1,358 1,323 2,499 , 2,277 2,000 4 000 4,000 1 649 1,649 796 2,000 1,000 - - FY07 FY08 FY09 FY10 FY11 9M FY12 FY07 FY0
Slide 14: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in ` million) Consolidated Standalone Key Parameters Q3 FY12 Q3 FY11 Change Q3 FY12 Q3 FY11 Change Revenue 12,684 7,309 74% 5,663 2,512 125% Other Income 298 201 48% 362 185 EBITDA 3,504 2,381 47% 1,418 1,419 0% EBITDA Margin 28% 32% 25% 56% Interest* 1
Slide 15: Standalone Revenue & Expenses
Standalone Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 14,000 4,115 14,000.00 12,000 23% 12,000.00 10,000 10,000.00 8,000 8,000.00 4,159 12,812 12,447 6,000 45% 24% 6 000 00 6,000.00 70% 1,474 4,000 4,000.00 44% 67% 3,768 4,171 4,075 4,046 2,000.00 2,000 - - 9MFY11 9MFY12 Q3FY1
Slide 16: Consolidated Revenue & Expenses
Consolidated Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 40,000 40,000.00 35,000 3,696 10% 35,000.00 30,000 5,022 14% 30,000.00 11% 25,000.00 25,000 2,603 20,000 20,000.00 7,241 , 30% 11% 15,000 25,450 1,485 15,000.00 12% 21,540 69% 1,574 10,000.00 10,000 13,596 56% 12,344 5,00
Slide 17: Debt Equity Analysis
Debt Equity Analysis Standalone Consolidated (in ` million) (in ` million) 1,00,000 5.00 1,00,000 93,864 5.00 90 000 90,000 90,000 4 50 4.50 4.50 80,000 80,000 4.00 69,183 3.49 4.00 70,000 70,000 3.50 63,763 60,000 54,670 3.50 60,000 3.00 50,000 2.66 2.68 3.00 50,000 2 50 2.50 40 000 40,000 40,000 2
Slide 18: In the Works…
In the Works… Capital Works remaining to be executed (ITNL proportionate share) (In ` million as on 31‐December‐11) Of p projects j awarded till last q quarter* 81,600 , Of projects awarded after last quarter 19,000 Total of Capital Works remaining to be executed 100,600 Andhra Pradesh Uttar Pradesh
Slide 19: Revenue Collection on Operational Road Projects
Revenue Collection on Operational Road Projects Not adjusted for ITNL’s stake (All figures in ` million) Toll Projects under Operation Average Daily Toll Collection In FY11 In Q2FY12 In Q3FY12 Ahmedabad Mehsana Road (Gujarat) 1.32 1.61 1.61 Vadodra Halol Road (Gujarat) 1.01 1.21 1.30 Noida Toll Brid
Slide 20: BOT Toll Revenue Growth
BOT Toll Revenue Growth Rs in million Toll Revenue start Sr.No Name of the Project 2007‐08 2008‐09 2009‐10 2010‐11 date 1 Ahmedabad Mehsana Road (Gujarat) Feb‐03 614 660 747 850 2 Vadodra Halol Road (Gujarat) Oct‐00 3 Noida Toll Bridge (UP) Feb‐01 547 659 706 696 4 Mega Highways ‐ Rajasthan (Ph ‐ I)
Slide 21: Value for Shareholders
Value for Shareholders Have consistently created wealth 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 20
Slide 22: 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 23: 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 24: 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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