Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — Investor Presentation (November 2017)
37 slides from Il&fs Transportation Networks's investor presentation, Nov 10, 2017
Slide 1: IL&FS Transportation Networks Limited Analyst Presentation – November 2017
IL&FS Transportation Networks Limited Analyst Presentation – November 2017 November 10,02017 CIN - L45203MH2000PLC129790
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… Company Overview Revenue Collection On Operational Road Projects International Presence BOT Toll Revenue Growth Key Updates Transportation Sector Outlook Portfolio – BoT Road Projects Road Sector Opportunity Key business segments IL&FS – Strong Parentage M
Slide 4: Company Overview
Company Overview Leading surface transportation infrastructure company and the largest private sector BoT road operator (in terms of lane kilometer) in India* Pan India presence with projects across several states in India Jammu & Kashmir Promoted by Infrastructure Leasing and Financial Servic
Slide 5: International Presence
International Presence China IIPL acquired 49% stake in Yuhe Expressway (235 lane km), in 2011 for USD 160 mn Elsamex Spain Undertaking Operation and Maintenance contracts Laos Contract for Lao PDR’s Vietnam IIPL USA LLC National road 1F (165 Contract for application To undertake projects in km) for
Slide 6: Key Updates
Key Updates BUSINESS Project portfolio: BOT Road Projects – 30; EPC projects – 4 and Non Road projects ‐ 5 Of our 35 total projects (excluding EPC), operational projects are 27 (23 road projects) Total road portfolio: 14,016 lane km We have received 1st Semi‐Annuity from CNTL Commissioned
Slide 7: Portfolio: BoT Road Projects
Portfolio: BoT Road Projects • Diverse BOT portfolio of 30 road projects covering 14,016 lane km spread across several states in India • Diverse mix of “Annuity / assured payments” and “Toll” based projects in various stages of development GRBDCL FSEL@ IRIDCL II JIICL SSTL Commissioned KNCEL ACEL@ K
Slide 8: Key business segments
Key business segments • Concession from a government authority to finance, design, construct and operate an infrastructure facility (primarily road) for limited period of time • Core business at present with 30 1road projects and 5 non‐road projects • Prudent mix of toll and annuity projects to bala
Slide 9: Marquee projects
Marquee projects ITNL • TheM ARQUEE longest PinROJECTS road tunnel Southeast Asia ‐ Chenani Nashri Tunnel • The prestigious tunnel in Jammu & Kashmir was inaugurated by the Honorable Prime Minister of India, Shri Narendra Modi on March 8, 2017 • The tunnel’s construction was a highly challenging end
Slide 10: Major milestones
Major milestones 2017 2013 2010 • Commissioned milestone 2014 Tunnel Project – CNTL 1st Preference shares • 1st Toll project issued - securitization – • Ventured into EPC mode of 2006 • Successful launch of ITNL IPO delivery Raised: • 1st Rights Issue Issue Price: Raised: • 1st Annuity project Issue
Slide 11: Project Pipeline
Project Pipeline As on November 2017 BID PIPELINE Single stage (RFQ cum RFP) Projects Length (km) Cost (INR Cr) NHAI / MoRTH* 5 868 13,422 STATE 4 725 30,450 RAILWAYS / FREIGHT & 3 326 5,000 INDUSTRIAL CORRIDOR METRO RAIL 1 23 6,478 Total 13 1,942 55,350 * Includes TOT Bundle 1 10
Slide 12: Order Book: Composition & Spread
Order Book: Composition & Spread BOT Order book – Project Type BOT Order book – Geographic Spread Jammu & Kashmir 1% 24.62% Road- Annuity 28% Himachal Pradesh 16.13% Road- Toll 71% Rajasthan 5.34% Non Road Madhya Pradesh 1.48% West Bengal & Jharkhand Gujarat 5.54% BOT Order book – Sourcing 2.14% Jha
Slide 13: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in INR Crore) Standalone Quarter Quarter qoq yoy Key Parameters Quarter ended ended % Change % Change ended June September September 30, 30, 2017 30, 2017 2016 Revenue 686 749 844 ‐8% ‐19% Other Operating Income 334 248 285 35% 17% EBITDA * 512 420 448
Slide 14: Standalone Revenue & Expenses
Standalone Revenue & Expenses Revenue Expenses (in INR Crore) (in INR Crore) 2,000 2000 1,500 1500 1,000 1000 285 367 248 334.00 380 422.00 500 500 653 518 585 432.00 442 401.00 0 0 Quarter Ended September 30 Quarter Ended June 30 2017 Quarter Ended September 30 Quarter Ended September 30 Quarter En
Slide 15: Revenue Collection on Operational Road Projects
Revenue Collection on Operational Road Projects Not adjusted for ITNL’s stake Average Daily Toll Collection (All figures in INR Cr) Toll Projects under Operation In Q2 FY 18 In Q1 FY 18 In Q4 FY 17 In Q3 FY 17 GRICL (Gujarat) 0.37 0.32 0.42 0.41 Mega Highways – Rajasthan* 0.83 0.90 1.00 0.60 Mega Hi
Slide 16: BOT Toll Revenue Growth
BOT Toll Revenue Growth Toll Revenue (INR in Crore) Sr.No Name of the Project 2012-13 2013-14 2014-15 2015-16 2016-17 start date 1 Ahmedabad Mehsana Road (Gujarat) Feb-03 107 108 120 129 151 2 Vadodra Halol Road (Gujarat) Oct-00 3 Mega Highways - Rajasthan (Ph - I) Mar-08 166 184 189 223 290 Mega Hi
Slide 17: Favourable outlook for the transportation sector
Favourable outlook for the transportation sector India’s position as the fastest growing economy in the world to further strengthen with expected pick up in economic activity… Real GDP growth 5 year CAGR (2016‐2021)1 …supported by easing inflationary pressure and… …declining interest rates CPI infla
Slide 18: Road Sector Opportunity
Road Sector Opportunity Share of Total Development Expenditure Budgetary Allocation to Roads USD Mn Budget FY17 ‐ Highlights Allocation for infrastructure‐related sectors has risen by 42% y‐o‐y for FY 2017 Budget has allocated ₹ 55bn (~US$8.4bn) for roads and highways to speed up progress in con
Slide 19: Road Sector Opportunity
Road Sector Opportunity Low penetration of state / national highways Bharatmala scheme by the Indian Government 79 131 • On Oct 24, 2017; the Indian government approved the biggest ever 467 highway development plan to develop / expand ~83,000km of roads at an investment of ~INR7.0tn by 2022 • Bharat
Slide 20: IL&FS - Strong Parentage
IL&FS - Strong Parentage INFRASTRUCTURE A leading infrastructure development conglomerate established in Transportation | Energy | Maritime Education & Social Infrastructure | 1987 Environment & Waste Management| Information Technology | Water| Urban Infrastructure Development| Engineering & Constru
Slide 21: Experienced Board of Directors
Experienced Board of Directors Independent Directors Non‐Independent Directors Name Designation / Background Name Designation Mr Deepak Mr Ravi Chairman; Former Chairman, NHAI Chairman, IL&FS Dasgupta Parthasarthy Mr Hari Sankaran Vice Chairman and MD, IL&FS Mr RC Sinha Former Vice Chairman & MD, Ma
Slide 22: Key Managerial Personnel
Key Managerial Personnel K. Ramchand • He has over 32 years of experience in urban and transport infrastructure development sector Managing Director Mukund Sapre • He has over 28 years of experience in the industry Executive Director Harish Mathur Technical Director • Has over 33 years of experience
Slide 23: Road Projects
Road Projects 22
Slide 24: Projects Under Operation
Projects Under Operation North Karnataka West Gujarat Expressway Vadodara Halol Toll Road Ahmedabad ‐ Mehsana Name of Project Noida Toll Bridge (NTBCL) Expressway Limited (NKEL) Limited (WGEL) (GRICL) Road (GRICL) Authority NHAI NHAI NOIDA Govt. of Gujarat Govt. of Gujarat State Karnataka Gujarat De
Slide 25: Projects Under Operation
Projects Under Operation Thiruvananthapuram City Roads (Phase I Mega Highways Project Rajasthan Name of Project Narketpally ‐ Addanki (NAMEL) & II) (TRDCL) (RIDCOR) Phase I & II Authority KRFB Govt. of Andhra Pradesh Govt. of Rajasthan State Kerala Andhra Pradesh Rajasthan Concession Type Annuity To
Slide 26: Projects Under Operation
Projects Under Operation Pune Sholapur Road East Hyderabad Jharkhand Accelerated Road Development Hazaribagh Ranchi Name of Project Development Company Expressway Ltd (EHEL) Programme (JRPICL) Expressway Limited (HREL) Limited (PSRDCL) Authority HUDA GOJ NHAI NHAI State Andhra Pradesh Jharkhand Jhar
Slide 27: Projects Under Operation
Projects Under Operation Name of Project Beawar Gomti Road (IRIDCL) Moradabad to Bareilly (MBEL) Chandrapur Warora (WCBTRL) Sikar Bikaner Authority Department of Road NHAI PWD, Maharashtra PWD, Rajasthan Transportation and Highways, GOI State Rajasthan Uttar Pradesh Maharashtra Rajasthan Concession
Slide 28: Projects Under Operation
Projects Under Operation Thiruvananthapuram City Roads Jorabat Shillong Mega Highways Project, Name of Project Baleshwar Kharagpur Road (BKEL) (Phase II & III) (TRDCL) (JSEL) Rajasthan (RIDCOR) III Authority NHAI NHAI Govt. of Rajasthan KRFB State Assam & Meghalaya West Bengal & Orissa Rajasthan Ker
Slide 29: Projects Under Operation
Projects Under Operation Name of Project Chennani ‐ Nashri (CNTL) Khed Sinnar Authority NHAI NHAI State Jammu & Kashmir Maharashtra Concession Type Annuity Toll Project (Lane Km) 38 557 Project Cost (Rs Cr) 5269 2015 Debt Outstanding as at June 30, 2017 (Rs. Cr) (Long 3920 1166 Term ) GRANT (Rs. Cr)
Slide 30: Status – Project under Construction
Status – Project under Construction Construction Progress Scheduled Project Completion Date BAEL Dec‐17 ** KNC Feb‐19 RRR VII Aug‐18 IRIDCL‐II TBF* FSEL May‐19 Projects getting operational GRBDCL Jul‐19 in the next 24 months SSTL Apr‐20 ACEL May‐19 Constructed To be Constructed * Appointed date to b
Slide 31: Project Development / Construction
Project Development / Construction Name of Project Kiratpur Ner Chowk (KNEL) Barwa Adda Panagarh Beawer Gomti (Additional) Authority NHAI NHAI MoRTH State Himachal Pradesh Jharkhand & Rajasthan West Bengal BOT Type Toll Toll Toll Project (Lane Km) 327 727 216 Project Cost (Rs Cr) 2291 2452 1387 Debt
Slide 32: Project Development / Construction
Project Development / Construction Name of Project Srinagar Sonmarg Tunnelway Limited Fagne – Gujarat / Maharashtra Border Amravati – Chikhli Authority BRO NHAI NHAI State Jammu & Kashmir Maharashtra Maharashtra BOT Type Annuity Toll Toll Project (Lane Km) 34 698 970 Project Cost (Rs Cr) 3289 1886 2
Slide 33: Project Development / Construction
Project Development / Construction Name of Project .GRICL Rail Bridge Development Company Ltd. (GRBDCL) RRR Section 2 Authority Government of Gujarat GoJ State Gujarat Jharkhand BOT Type Annuity Annuity Project (Lane Km) 34 160 Project Cost (Rs Cr) 251 640 Debt Outstanding as at June 30, 2017 (Rs. C
Slide 34: Glossary
Glossary Acronym Full Form IL&FS Infrastructure Leasing and Financial Services ITNL IL&FS Transportation Networks Limited SPV Special Purpose Vehicle BOT Build OperateTransfer HUDA Haryana Urban Development Authority COD Commercial Operation Date NHDP National Highway Development Plan SARDP Special
Slide 35: Glossary
Glossary Acronym Full Form JARDP/JRPICL Jharkhand Accelerated Road Development Programme / Jharkhand Road Projects Implementation Company Limited RPR II (Part of JRPICL I) Patratu Dam – Ramgarh Road CKC (Part of JRPICL II) Chaibasa Kandra Chowka Road CNTL Chenani Nashri Tunnelway Limited WCBTRL Waro
Slide 36: Glossary
Glossary Acronym Full Form NKEL North Karnataka Expressway Limited APEL Andhra Pradesh Expressway Limited HREL Hazirabagh Ranchi Expressway Limited EHEL East Hyderabad Expressway Limited GRICL Gujarat Road and Infrastructure Company Limited WGEL West Gujarat Expressway Limited NTBCL Noida Toll Bridg
Slide 37: 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 36
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