36 slides from Irb Infrastructure Developers's investor presentation, December 2018
Slide 1: Corporate Presentation December 2018
Corporate Presentation December 2018
Slide 2: Disclaimer
Disclaimer This presentation has been prepared by IRB Infrastructure Developers Limited (the “Company”) solely for your information and for your use and may not be taken away, reproduced, redistributed or passed on, directly or indirectly, to any other person (whether within or outside your organiza
Slide 3: Contents
Contents Sr. No Particulars Page No. 1 Key Highlights for December 2018 Quarter 4 2 Consolidated Financial Results as on December 31, 2018 5 3 Strong Financial track record 8 4 BOT Toll Revenue Comparative 10 5 Toll Performance 13 6 Other Operational BOT Projects 17 7 BOT Projects under implementati
Slide 4: Key Highlights during Q3FY2019
Key Highlights during Q3FY2019* Revenue* EBITDA* PAT*# For Q3FY19 has gone up to Rs 2,189 For Q3FY19 has gone up to Rs.18,350 mn For Q3FY19 has gone up to Rs. 8,069 Mn Mn from Rs. 2,073 Mn registering a from Rs. 13,417 Mn registering a growth from Rs. 6,757 Mn registering a growth of growth of 6% ov
Slide 5: Consolidated Financial Results
Consolidated Financial Results Amount in Rs Mn For the Period Ended December 2018 (Quarter) December 2017 (Quarter) Particulars Total All Segments Construction Segment BOT Segment Total All Segments Construction Segment BOT Segment Amt % Amt % Amt % Amt % Amt % Amt % Total Income 18,350.24 100.00 12
Slide 6: Consolidated Financial Results
Consolidated Financial Results Amount in Rs Mn For the Period Ended December 2018 (9 Months) December 2017 (9 Months) Particulars Total All Segments Construction Segment BOT Segment Total All Segments Construction Segment BOT Segment Amt % Amt % Amt % Amt % Amt % Amt % Total Income 49,037.00 100.00
Slide 7: Consolidated Financial Results
Consolidated Financial Results Amount in Rs Mn For the Period Ended December 2018 (Quarter) September 2018 (Quarter) Particulars Total All Segments Construction Segment BOT Segment Total All Segments Construction Segment BOT Segment Amt % Amt % Amt % Amt % Amt % Amt % Total Income 18,350.24 100.00 1
Slide 8: Strong Financial Track Record Consolidated Financials
Strong Financial Track Record Consolidated Financials Revenue EBITDA 70,000 35,000 59,691 58,628 31,715 60,000 52,551 30,000 27,874 28,480 49,037 50,000 25,000 23,247 23,222 39,605 40,000 Rs.in Mn Rs. in Mn 20,000 30,000 15,000 20,000 10,000 10,000 5,000 - - FY 2015 FY 2016 FY 2017 FY 2018 9MFY2019
Slide 9: Strong Financial Track Record Consolidated Financials
Strong Financial Track Record Consolidated Financials Net Worth & ROE Net Debt & Net Debt to Equity Ratio BOT Assets Capital Employed & ROCE 235,000 219,551 218,976 219,360 210,000 185,000 171,632 160,000 143,879 Rs. in Mn 135,000 110,000 85,000 60,000 35,000 10,000 FY 2015 FY 2016 FY 2017 FY 2018 9
Slide 10: BOT Toll Revenue Comparative
BOT Toll Revenue Comparative Amount in Rs Mn Sr. Name of the Project FY 2015 FY 2016 FY 2017 FY 2018 Q3 FY 2018 Q3 FY 2019 9M FY 2018 9 M FY 2019 No. 1 Mumbai - Pune BOT Project 5,673 6,331 6,819 9,016 2,332 2,372 6,744 6,829 2 Ahmedabad – Vadodara 1,566 2,187 3,309 3,808 1,007 1,126 2,788 3,150 3 C
Slide 11: BOT Toll Revenue Comparative
BOT Toll Revenue Comparative Amount in Rs Mn 11
Slide 12: BOT Toll Revenue Comparative
BOT Toll Revenue Comparative Amount in Rs Mn 12
Slide 13: Toll Performance (1/4)
Toll Performance (1/4) Ahmadabad Vadodara Amount in Rs Mn Name of Ahmedabad Interest rate successfully reduced by 2.25% to the Project Vadodara 9.25% on aggregate debt of Rs 33bn, resulting in Rs Client NHAI 0.7bn savings annually State Gujarat Achieved final CoD for Ahmedabad Vadodara project L
Slide 14: Toll Performance (2/4)
Toll Performance (2/4) Agra Etawah Name of the Project Agra – Etawah Effective 20th Jan 2018, Agra Lucknow Expressway has Client NHAI started tolling at concessionary rate of 75% State Uttar Pradesh Length (In Kms) 124.52 We are witnessing some bit of traffic diversion because Project Cost in Rs
Slide 15: Toll Performance (3/4)
Toll Perfomance (3/4) Solapur Yedeshi: Solapur Kaithal - Rajasthan Project performing inline with expectation even with 93% Name of the Project Yedeshi Border tolling as on date. Robust traffic mix as well as growth momentum bodes Client NHAI NHAI well for good return profile of the asset. State
Slide 16: Toll Performance (4/4)
Toll Performance (4/4) Kishangarh Name of the Project Udaipur Gujarat Border Gulabpura Chittorgarh Gulabpura Client NHAI NHAI NHAI State Rajasthan / Gujarat Rajasthan Rajasthan Project Cost in Rs. Mn 20,879 20,900 15,260 Debt / Unsecured Loan O/S as on 7,768 6,346 3,626 Dec 31, 2018 (Rs. Mn ) Premiu
Slide 17: Other Operational BOT Projects
Other Operational BOT Projects Mumbai Name of the Project Thane Ghodbunder Pune - Solapur Pune - Nashik Pune Client MSRDC MSRDC MOSRT&H MOSRT&H State Maharashtra Maharashtra Maharashtra Maharashtra Length of the Project 206.0 14.9 26.0 29.8 (In Kms) Project Cost in Rs. 13,016 2,462 630 737 Mn Debt /
Slide 18: BOT Projects Under Implementation
BOT Projects Under Implementation Goa / Karnataka Border Yedeshi Name of the Project to Kundapur Aurangabad Client NHAI NHAI State Karnataka Maharashtra Length of the Project (In Kms) 189.6 189.1 Project Cost in Rs. Mn 28,390 33,770 Debt / Unsecured Loan Outstanding as on Dec 31, 2018 13,077 16,962
Slide 19: BOT Project under Financial Closure Stage
BOT Project under Financial Closure Stage Particulars Hapur Moradabad Name of the Project Six Laning of Hapur Bypass (Km 50.000) to Moradabad (Km 149.867) Section of NH 9 in the State of Uttar Pradesh (length 99.867 km) under NHDP Phase V on BOT (toll) Basis. Client NHAI State Uttar Pradesh Type of
Slide 20: Financial Closure achieved for HAM Projects
Financial Closure achieved for HAM Projects Rs in Mil Name of the Project Four laning of Puducherry (Km. Four laning of Poondiyankuppam Construction of Eight lane Vadodara Kim Expressway 29.000) to Poondiyankuppam (Km. (to Sattanathapuram (Design Ch. Km. from Km 355.00 to Km 378.740 (Padra to Vadoda
Slide 21: IRB's BOT Road Portfolio
IRB’s BOT Road Portfolio BOT / HAM Portfolio – Km & Lane Km BOT / HAM Portfolio – State wise % Rajasthan 23% Haryana 8% Karnataka 9% Uttar Pradesh 15% Gujarat Tamil Nadu 13% 4% Maharashtra 28% BOT / HAM Portfolio – State wise Lane Km Lane KM under development 5,401 Lane Kms Lanes KM operational 3,34
Slide 22: Strong EPC Order Book
Strong EPC Order Book Order book As on Dec 31, 2018 Amount Order Book* Composition in Rs. Mn Ongoing BOT Projects 40,063 BOT/HAM Projects - Construction yet to commence 81,610 Total 121,673 •Order Book as of a particular date consists of unbilled revenue from the uncompleted portions of our “existin
Slide 23: EPC Performance
EPC Performance Revenue & YoY Growth PAT and Return Ratios EBITDA & Margin Networth and D:E Ratio Figures for 9MFY 2019 are not annualized. 23
Slide 24: Equity Commitment
Equity Commitment Amount in Rs Mn FY 2019 FY 2020 FY 2021 Name of the Project Estimated Estimated Estimated Agra Etawah 3,108 - - Udaipur - RJ Border 953 1,866 - Gulabpura - Chittorgarh 207 2,000 - Kishangarh - Gulabpura 767 1,957 - Hapur Moradabad 2,908 5,161 3,285 Puducherry Poondiankuppam 142 525
Slide 25: Growth Strategy
Growth Strategy Bharatmala Pariyojana: Strong growth envisaged till FY 2022 ~Rs 5tn of total investment for developing 34,800km of roads lined up over the next 4-5 years Of this Rs1.2tn would come from PPP, Rs 2tn from market borrowings and balance Rs ~2tn from Budgetary allocation/ToT/CRF/Toll
Slide 26: Company Overview
Company Overview IRB Group IRB Infrastructure Developers Limited (“IRB”) incorporated in 1998, has strong in-house integrated execution capabilities One of the leading Infrastructure Development company in India in road and highway sector Group has successfully executed numerous BOT projects i
Slide 27: Key Competitive Advantage
Key Competitive Advantage One of the largest BOT Project Portfolio in the Roads IRB InvIT : 17 BOT projects out and Highways perpetual of which 11 are Sector being tolled, opportunity to and balance are recycle capital and under various monetize assets phases of Key development Competitive Professio
Slide 28: Roadmap So Far
Roadmap So Far First ever Airport Project in Awarded 2 Nos. of Six Achieved Financial Closure for HAM Projects IRB’s portfolio Laning Projects of – 4 Laning of Puducheery to Poondiyankuppam – Greenfield Airport Project Section of NH-45A in Sindhudurg, NHAI on DBFOT – 4 Laning of Poondiyankuppam
Slide 29: The IRB Group
The “IRB” Group IRB’s BOT Road Projects Sr. Length Company Road Name No. in Km 1 Aryan Toll Road Pvt. Ltd. Pune – Sholapur BOT 26.00 2 ATR Infrastructure Pvt. Ltd. Pune – Nashik BOT NH 50 29.81 100% 3 Mhaiskar Infrastructure Pvt. Ltd. Mumbai – Pune BOT MPEW & NH4 206.00 14 BOT Projects 4 Thane Ghodb
Slide 30: Organization Structure
Organization Structure Board of Directors Mr. Virendra D. Mhaiskar Chairman and Managing Director Mrs. Deepali V. Mhaiskar Mr. Mukesh Gupta Mr. Sudhir Hoshing Executive Director Joint Managing Director Joint Managing Director Mr. Chandrashekhar S. Kaptan Mr. Sunil H. Talati Mr. Sandeep Shah Mr. Suni
Slide 31: Organization Structure
Organization Structure Statutory Auditors Mr. Rajkamal R. Bajaj Internal Auditors Suresh Surana & Associates LLP BSR & Company LLP Advisor to the Board Chartered Accountants Chartered Accountants Joint Statutory Auditors Bankers / Lenders of IRB Group Gokhale & Sathe Andhra Bank Canara Bank Chartere
Slide 32: Shareholding Pattern
Shareholding Pattern Shareholding Pattern as On December 31, 2018 Name Percentage (%) Promoter 57.37 Promoter Group 0.17 FII / EPI 23.19 DII 12.12 Others 7.15 Total 100.00 Shareholders holding more than 1% shares as on December 31, 2018 Name Percentage (%) Government of Singapore 4.67 Aditya Birla S
Slide 33: Corporate Recognition
Corporate Recognition IRB has been awarded CNBC TV 18 Essar Steel Infrastructure Excellence Award in the Highways & Flyovers category for Mumbai - Pune section of National Highways (NH-4). This award was in recognition of the high quality work implemented on the development and maintenance of the Mu
Slide 34: Corporate Recognition
Corporate Recognition This award was won by IRB for being the ideal This award was won companies to work for by the company for infrastructure sector in India having employee acknowledging its business friendly policies, operations, quality of its respect for dignity of management, concern for emplo
Slide 35: Our CSR Initiative
Our CSR Initiative We have replicated same model and have started a We also generously school in the Pathankot district of Punjab, near the contributed to the Amritsar- Pathankot BOT project. Chief Minister’s drought relief fund in Maharashtra. The School building was inaugurated on 27 March 2017.Th
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