Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — Q1 FY2015 Earnings Presentation
36 slides from Il&fs Transportation Networks's earnings presentation, Aug 13, 2014
Slide 1: Analyst Presentation – August 2014
IL&FS Transportation Networks Limited Analyst Presentation – August 2014 August 13, 2014
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 Toll and Annuity Collection on Operational Projects Key Competitive Strengths IL&FS – Strong Parentage Segment Overview Board of Directors Portfolio – Road Projects Road Projects Portfolio – Metro Rail Glossary Portfolio – Other Concession
Slide 4: Company Overview
Company Overview IL&FS Transportation Networks Limited (ITNL) is a leading surface transportation infrastructure company and the largest private sector BoT road Jammu & Kashmir operator (in terms of lane kilometer) in India* PAN India presence with ITNL has a pan India presence with projects in
Slide 5: Key Competitive Strengths
Key Competitive Strengths Market Leadership in the surface transportation infrastructure sector backed by expansion into new sub sectors • With around 13,195 lane kms spread over 27 projects in our road assets portfolio • Forays into other surface transportation sub-sectors like metro rail, City Bus
Slide 6: Segment Overview
Segment Overview Annuity Projects Toll Projects Urban Transport Projects Others NKEL (93.5%1) GRICL (41.8%) VNIL (90%) IRL (71.37%) APEL (100%1) WGEL (100%1) RMGL (82.81%) IOPL , Singapore (100%) ITNL International Pte Ltd , NTBCL (25.35%) RMGSL (84.49%) TRDCL (50%) Singapore (100%) IRIDCL (100%) MP
Slide 7: Portfolio: Road Projects
Portfolio: Road Projects Khed • Diverse BOT portfolio of 27 road projects covering 13,195 lane km spread across 16 states in India Barwa Adda Sinnar SSTL Panagarh Kiratpur • Diverse mix of “Annuity / assured payments” and “Toll” based projects in various stages of development Ner Kharagpur RIDCOR II
Slide 8: Portfolio: Metro Rail
Portfolio: Metro Rail Gurgaon MetroRail Link: Awarded by Haryana Urban Development Authority (HUDA) through Concession Agreement dated December 09, 2009 Metro link from Delhi metro Sikanderpur station to NH-8 in Gurgaon – around 4.9 km Concession period of 99 years Started Commercial Operati
Slide 9: Portfolio: Other Concessions
Portfolio: Other Concessions MP Border Check Post Project – awarded by Madhya Pradesh Road Development Corporation Limited ITNL stake 51%, 24 border check-post in MP to be developed and 2 central control facilities Border Revenue sources – entry fee from commercial vehicles, parking fee, loading
Slide 10: Road Sector Opportunity
Road Sector Opportunity ~16,198 km of awards pending under NHDP – to be substantially executed under PPP Program To be awarded (in Km) • India’s road network increased to 4.2 million km from 3.3 million km NHDP-III 1,685 • The 13th Finance Commission has decided to provide a central grant of INR 199
Slide 11: Project Pipeline
Project Pipeline As of July 31, 2014 BID PIPELINE RFP Stage (Post Qualification) RFQ Stage (Pre Qualification) Projects Length (km) Cost (INR Mn) Projects Length (km) Cost (INR Mn) NHAI 10 1,005 1,43,400 16 2,114 1,97,640 States 3 432 21,810 16 1,068 60,100 MORTH 0 0 0 2 60 42,500 Border Road Organi
Slide 12: Financial Parameters (Consolidated)
Financial Parameters (Consolidated) Revenue EBITDA(1) (INR mn) (INR mn) 80,000 67,863 68,025 80,000 70,000 57,294 70,000 60,000 60,000 50,000 41,274 50,000 40,000 40,000 24,873 30,000 30,000 19,818 21,106 13,320 16,480 15,894 20,000 20,000 12,335 8,785 6,479 10,000 10,000 2,900 - - FY09 FY10 FY11 FY
Slide 13: Financial Parameters (Standalone)
Financial Parameters (Standalone) Revenue EBITDA(1) (INR mn) (INR mn) 40,000 35,662 36,720 40,000 35,000 29,102 30,000 30,000 25,000 17,010 20,000 20,000 15,000 9,415 9,980 6,899 8,434 8,535 10,000 10,000 6,440 6,171 2,277 3,724 5,000 1,323 - - FY09 FY10 FY11 FY12 FY13 FY14 Q1FY15 FY09 FY10 FY11 FY1
Slide 14: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in INR million) Consolidated Standalone Key Parameters Q1FY15 Q1FY14 % Change Q1FY15 Q1FY14 % Change Revenue 15,642 14,511 7.79% 9,393 6,919 36% Other Income 839 287 192% 587 455 29% EBITDA 6,479 5,491 17.99% 3,724 3,069 21% EBITDA Margin 39% 37% 37% 42
Slide 15: Standalone Revenue & Expenses
Standalone Revenue & Expenses Revenue Expenses (in INR million) (in INR million) 20,000 20,000.00 15,000 15,000.00 10,000 379 2287 10,000.00 984 2,947 9,062 5,000.00 8,342 5,000 5,379 5,882 3,585 3,773 - - Q1FY14 Q4FY14 Q1FY15 Q1FY14 Q4FY14 Q1FY15 Constr Income Fee Income O&M Income Other Operating
Slide 16: Consolidated Revenue & Expenses
Consolidated Revenue & Expenses Revenue Expenses (in INR million) (in INR million) 20,000 20,000 2,747 1,441 15,000 15,000 3,923 3,219 2,614 1,836 2,227 10,000 10,000 3515 11,328 1303 1561 5,000 9,094 8,463 8,386 5,000 6,221 6,242 - - Q1FY14 Q4FY14 Q1FY15 Q1FY14 Q4FY14 Q1FY15 Constr Income Elsamex T
Slide 17: Debt Equity Analysis
Debt Equity Analysis Standalone Consolidated (in INR million) (in INR million) 2,00,000 5.00 2,00,000 1,88,165 1,97,574 5.00 1,80,000 4.50 1,80,000 4.50 1,60,000 4.00 1,60,000 4.00 1,40,000 1,40,000 3.50 3.68 3.50 1,20,000 1,20,000 3.00 3.49 1,00,000 1,00,000 3.00 2.50 80,000 80,000 56,689 2.50 1.49
Slide 18: In the Works…
In the Works… Capital Works remaining to be executed (ITNL proportionate share) (In INR million as on 30-June-2014) Of current projects 1,08,645 Of projects during last quarter 32,000 Total of Capital Works remaining to be executed 1,40,645 Uttar Pradesh Andhra Pradesh Jharkhand & W 1.62% 1.36% Proj
Slide 19: Revenue Collection on Operational Road Projects
Revenue Collection on Operational Road Projects Not adjusted for ITNL’s stake (All figures in INR million) Average Daily Toll Collection Toll Projects under Operation In Q2 FY 14 In Q3 FY 14 In Q4 FY 14 In Q1 FY 15 Ahmedabad Mehsana Road (Gujarat) 1.75 1.75 1.75 2.13 Vadodra Halol Road (Gujarat) 1.1
Slide 20: BOT Toll Revenue Growth
BOT Toll Revenue Growth INR in million Toll Revenue Sr.No Name of the Project 2007-08 2008-09 2009-10 2010-11 2011-12 2012-13 2013-14 start date Ahmedabad Mehsana Road 1 Feb-03 (Gujarat) 614 660 747 850 1,037 1,067 1075 Vadodra Halol Road 2 Oct-00 (Gujarat) 3 Noida Toll Bridge (UP) Feb-01 547 659 70
Slide 21: IL&FS - Strong Parentage
IL&FS - Strong Parentage IL&FS Overview Incorporated in 1987 as a JV between the Central Bank of India (CBI), Our Parent Shareholding IL&FS Shareholding Housing Development Finance Corporation Limited (HDFC) and Unit Trust of India (UTI) to commercialize infrastructure projects and work with publi
Slide 22: Experienced Board of Directors
Experienced Board of Directors Independent Directors Non-Independent Directors Name Designation / Background Name Designation Mr Deepak Mr Ravi Chairman, IL&FS Chairman; Former Chairman, NHAI Parthasarthy Dasgupta Mr Hari Sankaran Vice Chairman and MD, IL&FS Mr RC Sinha Former Vice Chairman & MD, Ma
Slide 23: 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 29 years of experience in the industry. Executive Director Harish Mathur • Has over 35 years of experience in various road c
Slide 24: Road Projects
Road Projects
Slide 25: 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 26: Projects Under Operation
Projects Under Operation Thiruvananthapuram City Narketpally - Addanki Andhra Pradesh Mega Highways Project Rajasthan Beawar Gomti Road Name of Project Roads (Phase I & II) (NAMEL) Expressway (APEL) (RIDCOR) Phase I & II (IRIDCL) (TRDCL) Authority NHAI KRFB Govt. of Andhra Pradesh Govt. of Rajasthan
Slide 27: Projects Under Operation
Projects Under Operation Jharkhand Accelerated Road East Hyderabad Expressway Hazaribagh Ranchi Expressway Pune Sholapur Road Development Name of Project Development Programme Ltd (EHEL) Limited (HREL) Company Limited (PSRDCL) (JRPICL) Authority HUDA GOJ NHAI NHAI State Andhra Pradesh Jharkhand Jhar
Slide 28: Status – Project under Construction
Status – Project under Construction Construction Progress Scheduled Project Completion Date WCBTRL Aug-14 JRPICL II CKC Sep-14 TRDCL III Dec-14 MPBCDCL^ Jun-15 Projects getting operational CNTL Nov-15 over the next 18 Months JSEL Jan-15 # BKEL Jun-15 SBEL Nov-14 RB TBF* RIDCOR II & MB TBF* III KM TB
Slide 29: Project Under Implementation
Project Under Implementation Thiruvananthapuram City Roads Mega Highways Project, Name of Project Chandrapur Warora (WCBTRL) Moradabad to Bareilly (MBEL) (Phase II & III) (TRDCL) Rajasthan (RIDCOR) Phase II Authority KRFB Govt. of Rajasthan PWD, Maharashtra NHAI State Kerala Rajasthan Maharashtra Ut
Slide 30: Project Under Implementation
Project Under Implementation Jorabat Shillong Jharkhand Accelerated Road Development Name of Project Chennani - Nashri (CNTL) (JSEL) Programme (JRPICL) Authority NHAI NHAI Govt of Jharkhand State Jammu & Kashmir Assam & Meghalaya Jharkhand BOT Type Annuity Annuity Annuity Project (Lane Km) 38 262 13
Slide 31: Project Under Implementation
Project Under Implementation Baleshwar Kharagpur Road Mega Highways Project, Name of Project Sikar Bikaner Beawer Gomti (Additional) (BKEL) Rajasthan (RIDCOR) III Authority NHAI PWD, Rajasthan Govt. of Rajasthan MoRTH State West Bengal & Rajasthan Rajasthan Rajasthan Orissa BOT Type Toll Toll Toll T
Slide 32: Project Under Development
Project Under Development Srinagar Sonmarg Tunnelway Name of Project Barwa Adda Panagarh Khed Sinnar Kiratpur Ner Chowk (KNEL) Limited Authority NHAI NHAI NHAI BRO State Jharkhand & Maharashtra Himachal Pradesh Jammu & Kashmir West Bengal BOT Type Toll Toll Toll Annuity Project (Lane Km) 727 557 327
Slide 33: Glossary
Glossary Acronym Full Form IL&FS Infrastructure Leasing and Financial Services ITNL IL&FS Transportation Networks Limited SPV Special Purpose Vehicle BOT Build Operate Transfer HUDA Haryana Urban Development Authority COD Commercial Operation Date NHDP National Highway Development Plan SARDP Special
Slide 34: 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 35: 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 NoidaToll Bridge
Slide 36: 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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