Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — Q2 FY12 Earnings Presentation
23 slides from Il&fs Transportation Networks's earnings presentation, Nov 9, 2011
Slide 1: IL&FS Transportation Networks Limited Analyst Presentation – November 2011
IL&FS Transportation Networks Limited Analyst Presentation – November 2011 November 09, 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 Q2FY12 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 September 30, 2011 83.61% GRICL 25 35% 25.35% NTBCL Other Subsidiaries 93.50%* NKEL 100.00%* WGEL 69.29% 100.00% 50.00%* RIDCOR CO 50.00% TRDCL IERS IIPL 100.00%* APEL 74.00%* CHDCL 48.00% Vs 74.00%* 77.39% 22.61% ROAD SPV JARDCL 100.00%* JRPI
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 As of November 1, 2011 BID PIPELINE RFP Stage (Post Qualification) RFQ Stage (Pre Qualification) Projects Length (km) Cost (` Mn) Projects Length (km) Cost (` Mn) NHAI 6 557 48 033 48,033 51 5 665 5,665 474 261 474,261 MORTH ‐ ‐ ‐ 1 80 16,000 STATE PROJECTS 6 604 23,740 20
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) 45,000 41,274 12,335 14,000 40,000 12 000 12,000 35,000 24,873 10,000 8,785 30,000 23,974 7,366 25,000 8,000 20,000 13,320 6,000 15,000 2,489 2,900 4,000 10 000 10,000 4,375 960 1,981 2,000 5,000 - - FY07 FY08 FY09 FY10 FY11 H1 FY12
Slide 13: Financial Parameters (Standalone)
Financial Parameters (Standalone) Revenue EBITDA(1) (` mn) (` mn) 17,010 18,000 7,000 6,440 6,171 16,000 12 254 12,254 6 000 6,000 14,000 12,000 5,000 9,415 10,000 4,000 3,219 8,000 3,000 6,000 1,358 1,323 2,499 2,277 2,000 796 4,000 1,649 2,000 1,000 - - FY07 FY08 FY09 FY10 FY11 H1 FY12 FY07 FY08 F
Slide 14: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in ` million) Consolidated Standalone Key Parameters Q2 FY12 Q2 FY11 Change Q2 FY12 Q2 FY11 Change Revenue 12,560 8,832 42% 6,483 3,730 74% Other Income 258 311 288 224 EBITDA 3,829 2,802 37% 1,607 1,576 2% EBITDA Margin 30% 31% 24% 40% Interest* 1,694
Slide 15: Standalone Revenue & Expenses
Standalone Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 14,000 14,000.00 12,000 22% 12,000.00 2,641 10,000.00 10,000 8,000.00 8,000 18% 42% 1 247 1,247 6,000.00 6,000 72% 2,736 8,766 8,276 4,000 75% 4,000.00 48% 5,088 4,898 2,000 3,116 2,000.00 2,803 - - H1FY11 H1FY12 Q2FY12 H1F
Slide 16: Consolidated Revenue & Expenses
Consolidated Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 25 000 25,000 25 000 25,000 2,604 11% 20,000 3,448 14% 20,000 1,679 10% 15,000 11% 15,000 5,182 , 1,348 31% 14% 10,000 1,831 16,401 10,000 56% 68% 13,779 9,570 8,875 5,000 69% 5,000 8,578 7,593 - - H1FY11 H1FY12 Q2FY12 H1
Slide 17: Debt Equity Analysis
Debt Equity Analysis Standalone Consolidated (in ` million) (in ` million) 80,000 3.00 80,000 3.00 2.66 2.68 70 000 70,000 70,000 2.50 69,183 60,000 60,000 63,763 2.50 2.40 50,000 2.00 50,000 54,670 40,000 40,000 , 2.00 30,000 1.50 1.09 30,000 1.06 1.13 20,000 20,000 1.50 1.00 17,848 18,469 19,078 2
Slide 18: In the Works…
In the Works… Capital Works remaining to be executed (ITNL proportionate share) (In ` million as on 30‐September‐11) Of p projects j awarded till last q quarter* 89,000 , ‐ Total of Capital Works remaining to be executed 89,000 Non Road Uttar Pradesh Andhra Pradesh Project Projects Rajasthan 12.76%
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 FY11 In Q1FY12 In Q2FY12 Ahmedabad Mehsana Road (Gujarat) 1.32 1.55 1.61 Vadodra Halol Road (Gujarat) 1.01 1.13 1.21 Noida Toll Bridge
Slide 20: 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 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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