Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — Q3 FY2011 Earnings Presentation
23 slides from Il&fs Transportation Networks's earnings presentation, Feb 9, 2011
Slide 1: IL&FS Transportation Networks Limited Analyst Presentation – Feb 2011
IL&FS Transportation Networks Limited Analyst Presentation – Feb 2011 February 9, 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 Differentiators y Major Milestones y The Th ITNL Group G y Project Portfolio y Company Positioning y Highlights of FY10 y Project Pipeline y Financial Performance y Key Financial parameters of FY11 Third Quarter y Board of Directors and Key Managerial P
Slide 4: An Introduction
An Introduction IL&FS Transportation Networks Limited (ITNL) has the largest BoT PAN India presence with road asset portfolio (in terms of lane kilometer) in India Jammu & BoT projects in 14 States Kashmir ITNL has a pan India presence with projects in around 14 states Promoted by Infrastructu
Slide 5: Key Differentiators
Key Differentiators Market Leadership in the Transportation Infrastructure Sector • With around 12,000 lane km comprised in 22 projects in its road assets portfolio • Forays into other surface transportation sub‐sectors like metro, bus, border check‐post & airports Track Record of Successful Project
Slide 6: ITNL Group
1 ITNL Group IL&FS Transportation Networks Limited As at Dec 31, 2010 83.61% GRICL 25.35% NTBCL Operating Subsidiaries 87.25%* NKEL 100.00%* WGEL 57.50% 100.00% 50.00%* RIDCOR 49 93% 49.93% TRDCL 100.00%* APEL IERS Elsamex SA 74.00%* CHDCL 74.00%* JARDCL 100.00% 48.00% JRPICL 74.00% EHEL 20 subsidia
Slide 7: Portfolio: Road Projects
Portfolio: Road Projects • Diverse BOT portfolio of 22(1) road projects covering ~12,000(1) lane km spread across various states of India • Fair mix of “Annuity / assured payments” and “Toll” based projects in various stages of development Almaty Horgos(1) Shillong Udhampur 500000 Narketpally Addank
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: Highlights of FY10
Highlights of FY10 Projects worth ` ~82 billion bagged in FY10 Financially Closed projects of FY10 BOT Length Estimated Cost L Length th Debt D bt tied‐up ti d Project Authority Type (lane km) ( ` Million) (` Project (lane km) Million) Road Sector Ranchi to Hazaribagh NHAI Annuity 319 8,692 Ranchi t
Slide 10: Project Pipeline for FY11
Project Pipeline for FY11 Project Authority Stake BOT Type Length (lane km) . Estimated Cost (` Million) . Projects Awarded after 31st March 2010 Chenani to Nashri in Jammu & Kashmir NHAI 100% Annuity 38 37,500 Jorabat to Shillong in North East NHAI 50% Annuity 262 8,240 Narkattpally to Addanki in A
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% Estimated Capital Expenditure under NHDP Phases NHAI Construction Targets for 2010-11 ` in Cr 70,000 Program Target in Km 60 000 60,000 NHDP‐III 50,000 385 NHDP‐V 40,000 1,786 30 0
Slide 12: Financial Parameters (Consolidated)
Financial Parameters (Consolidated) Revenue EBITDA(1) (` mn) 24,873 24,463 (` mn) 25000 10000 8,785 7,969 20000 8000 13,320 15000 6000 10000 4000 2,489 2,900 4,375 5000 1,981 960 2000 0 0 2007 2008 2009 2010 Q3FY11 2007 2008 2009 2010 Q3FY11 PAT(2)(4) g Capital Average p p y (3)(4) Employed (` mn) R
Slide 13: Financial Parameters (Standalone)
Financial Parameters (Standalone) Revenue EBITDA(1) (` mn) (` mn) 9,415 9,185 7000 6,440 10000 6000 8000 4,520 5000 6000 4000 3000 4000 2,499 2,277 1,358 1,323 1,649 , 2000 796 2000 1000 0 0 2007 2008 2009 2010 Q3FY11 2007 2008 2009 2010 Q3FY11 PAT((2)) Average Capital Employed((3)) RoE (%) (` mn) (
Slide 14: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in ` million) Standalone Consolidated Key Parameters Q2‐FY11 Q3‐FY11 Upto Q3FY11 Q2‐FY11 Q3‐FY11 Upto Q3FY11 Revenue 3,954 2,696 9,185 9,019 7,510 24,463 EBITDA 1,576 1,419 4,520 2,802 2,381 7,969 EBITDA Margin M i 40% 53% 49% 31% 32% 33% Interest 331 3
Slide 15: Standalone Revenue & Expenses
Standalone Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 4,000.00 , 16% 4,000.00 19% 3,000.00 12% 740 22% 3,000.00 2 000 00 2,000.00 59% 37% 2 000 00 2,000.00 1,485 63% 1,005 2,483 1,996 1,000.00 25% 36% 1,000.00 959 838 633 558 - - Q1 Q2 Q3 Q1 Q2 Q3 Constr Income Fee Income O&M
Slide 16: Consolidated Revenue & Expenses
Consolidated Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 10,000.00 , 10,000.00 7,500.00 7,500.00 2,677 30% 2,504 32% 1,982 26% 5,000.00 5,000.00 5,259 2,500.00 4,312 54% 58% 4,026 54% 2,500.00 3,174 2,448 2,152 - - Q1 Q2 Q3 Q1 Q2 Q3 Constr Income Elsamex Toll/Annuity Other Cons
Slide 17: Debt Equity Analysis
Debt Equity Analysis Standalone Consolidated (in ` million) (in ` million) 20000 17,908 1.50 50,000 46,981 3.00 17,280 16,495 40 166 40,166 15,550 40,000 35,005 15000 13,150 13,600 1.25 2.34 2.50 30,000 2.06 2.06 10000 1.00 2.00 0.87 18 165 18,165 19,459 , 20,035 , 0.80 0.79 20,000 5000 0.75 1.50 10
Slide 18: In the Works…
In the Works… Capital Works remaining to be executed (ITNL proportionate share) (In ` million as on 31‐Dec‐10) Of projects awarded till last quarter* 106,000 Of projects where we have emerged as L‐1 (not including Almatty to Horgos project)*** 16,600 Total of Capital Works remaining to be executed 1
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 Q Q2 FY11 In Q Q3 FY11 Ahmedabad Mehsana Road (Gujarat) 1.17 1.31 1.31 Vadodra Halol Road (Gujarat) 0.86 0.97 1.09 Noida Toll
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* (Mar, Trinity 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 N Name Designation i i Name Designation Mr Deepak Dasgupta Chairman; Former Chairman NHAI Mr Ravi Parthasarthy Chairman, IL&FS Mr RC Sinha Vice Chairman & MD, Maharashtra Mr Hari Sankaran Managing Director, IL&FS Airport
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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