Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — Investor Presentation (June 2015)
22 slides from Il&fs Transportation Networks's investor presentation, Jun 1, 2015
Slide 1: IL&FS Transportation Networks Ltd Analyst Meet
IL&FS Transportation Networks Ltd Analyst Meet June 1, 2015 1 CIN - L45203MH2000PLC129790
Slide 2: IL&FS Transportation - Overview
IL&FS Transportation - Overview 2
Slide 3: ITNL Footprint - At a Glance
ITNL Footprint - At a Glance China: 49% stake of Chongqing Yuhe Expressway Company Limited. Yuhe Expressway is a four-lane dual carriageway connecting downtown Chongqing with Hechuan county in Chongqing, China, aggregating approximately 235 kms Elsamex Spain Undertaking Operation and Maintenance con
Slide 4: Revenue Growth Trends – Select Roads
Revenue Growth Trends – Select Roads * GRICL Noida Toll Bridge 1200 1400 994 1035 1197 1200 1075 1000 888 1037 1067 774 1000 850 800 706 696 747 800 600 600 400 400 200 200 0 0 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 FY 10 FY 11 FY 12 FY 13 FY 14 FY 15 Toll Collection (INR mn) Toll Collection (INR mn) R
Slide 5: ITNL's Order Book: Composition & Spread
ITNL’s Order Book: Composition & Spread Order book – Project Type Order book – Geographic Spread Jammu & Kashmir 34.47% 11% 34% Himachal Road- Annuity Haryana,\ Pradesh 8.83% 12.74% Road- Toll Meghalaya Uttar Pradesh 0.46% Non Road 2.03% 55% Rajasthan 11.23% Order book – Sourcing Jharkhand & W.Benga
Slide 6: ITNL – Steady Revenue Growth and Improving EBITDA Margins
ITNL – Steady Revenue Growth and Improving EBITDA Margins INR MN FY 2011 – FY 2015 Revenue INR MN FY 2011 – FY 2015 EBITDA CAGR = 13.41% 30,000 CAGR = 18.91% 40% 80,000 20% 67,888 68,283 24,658 70,000 68,025 25,000 36% 57,294 21,051 35% 60,000 15% 19,818 20,000 31% 50,000 30% 15,894 41,274 10.49% 29
Slide 7: India Road Sector Outlook
India Road Sector Outlook ZNILEFS | Transportation IL&FS Transportation Networks Limited
Slide 8: Infrastructure Segment – Poised for Growth
Infrastructure Segment – Poised for Growth Aggregate investment in Roads to nearly double National Highway - Awarding to pick up gradually over the next 5 years from current low levels Investment in Roads NHAI Awarding USD bn Km USD 0.12bn 4,269 * 10% 955 5,365 240 5,132 USD 0.07bn 60% 4,469 3,953 1
Slide 9: Road Sector Opportunity
Road Sector Opportunity Program To be Awarded (in Km) • India’s road network increased to 4.2 mn km from 3.3 mn km NHDP-III 2,805 • The 13th Finance Commission has decided to provide a central grant of USD 3.3 bn over the period 2011 -15 for NHDP-IV 9,892 development of state roads across the countr
Slide 10: Key Updates : Macro
Key Updates : Macro n NHAI has awarded a total of 27 projects measuring ~3,091 kms in FY 15 versus 1,522 kms in FY 14 NHAI’s total expenditure in FY 15 was 21,000 crores, FY 16 target is 75,000 crores; increase of NHAI Activity n 55,000 crores to be funded by increased budget allocation (15,000 cror
Slide 11: Recent Bids
Recent Bids Sr. No. Name of the Project Bid Details Median Bid Range (INR (as per NHAI site) CR) 1 Hospet – Chitradurga L1- Rs. 18 Cr. Premium L2- Rs. 12.04 Cr. Premium L3 – Rs. 4.5 Cr Premium 222 L4 - Rs. 168.80 Cr. Grant L5 - Rs. 276 Cr. Grant L6- Rs. 456 Cr. Grant L7 - Rs. 462 Cr. Grant L8 - ITNL
Slide 12: Recent Bids….continued
Recent Bids….continued Sr. No. Name of the Project Bid Details Median Bid Range (as per NHAI site) (INR CR) 4 Mukarba Chowk - Panipat Section L1 – Rs. 189 Cr. Grant L2 – Rs. 198.9 Cr. Grant L3 – Rs. 297 Cr. Grant 297 L4 - Rs. 360 Cr. Grant L5 - Rs. 487 Cr. Grant 6 Yedishi Aurangabad L1- Rs. 558 Cr.
Slide 13: Risk Sharing Matrix - Existing vs Modified MCA + Hybrid Model
RISK SHARING MATRIX - Existing vs Modified MCA + Hybrid Model NHAI Concessionaire Proposed Amendments • Proposed Changes in Model Concession Land acquisition Agreement: Forest Clearance 1. 80% land CP non-waivable Environment Clearance 2. Rationalization of TPC definition Utility Shifting 3. Easing
Slide 14: ITNL Accounting - FAQ's
ITNL Accounting - FAQ’s ZNILEFS | Transportation IL&FS Transportation Networks Limited
Slide 15: ITNL : Accounting Explained
ITNL : Accounting Explained Background Guidance Note on SCA § Government has introduced Contractual § Paragraph 10 of the guidance note issued Service arrangements to attract Private by the ICAI sets out the principles for sector participation in the recognising and measuring obligations and develop
Slide 16: ITNL Accounting: Asset Classification
ITNL Accounting: Asset Classfication 1. Financial Assets (Annuity) Where a concessionaire has an unconditional contractual right to receive cash for a pre determined period (Annuity) from the grantor of the concession, such a concession is recognised as a Financial Asset Financial Assets are disclos
Slide 17: ITNL : Accounting Explained contd....
ITNL : Accounting Explained contd.... Accounting for Financial Assets: Accounting for Intangible Assets: § A Financial Asset is recognised as “Receivable under § An “Intangible Asset” is recognised at the fair value of Service Concession Arrangement (SCA)” at the fair the constructed asset which com
Slide 18: Road Ahead
Road Ahead ZNILEFS | Transportation IL&FS Transportation Networks Limited
Slide 19: Strategy Snapshot
Strategy Snapshot Long term Financial shareholder value Results Expand Revenue, Asset efficiency, Profitability churn Portfolio Business Portfolio Expansion Brand Value Optimization Goals Pipeline Risk Regulatory & Creation Management Social Process Flow Opportunity Design, Bid, O&M , Tolling Capita
Slide 20: 1. Portfolio Scaling
1. Portfolio Scaling Business Verticals Approach & Opportunity • NHAI’s stated target is to award around 9000 kms in FY 16 through BOT and EPC route Concession Portfolio • Decreased intensity of competition in BOT space to provide a window of opportunity to selectively win projects with higher retur
Slide 21: 2. Portfolio Optimization & Financial Management
2. Portfolio Optimization & Financial Management Portfolio Optimization Balance Sheet Management Improve Asset Utilization • Financial requirements entail: 1. Equity pending to be infused in existing Focused on completing current order book portfolio is ~Rs 655 crores, of which more than on time and
Slide 22: Thank You
THANK YOU ZNILEFS | Transportation IL&FS Transportation Networks Limited
IL&FS Transportation Networks — Investor Presentation (June 2015) on 6ix