Slide 1: Investor Presentation March 2020
Investor Presentation March 2020
Slide 2: Safe Harbour
Safe Harbour 2 This presentation has been prepared by IRB Infrastructure Developers Limited (the “Company”) solely for your information and for your use and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person (whether within or outside your organization or
Slide 3: Contents
3 Contents FY20: Scripting Leadership 4 Q4 & FY20 Results 5 IRB Construction Vertical 11 IRB Toll Road Performance 17 Private InvIT – IRB Infrastructure Trust 25 Corporate Overview 29
Slide 4: FY20: Scripting Leadership
4 FY20: Scripting Leadership • Instituted IRB • IRB bags India’s largest TOT • Achieved PCOD for Karwar • Largest Roads and Infrastructure Trust – Pvt project – Mum-Pune Kundapur BOT project and Highways player with total InvIT housing 9 BOT assets Expressway – yet again! started tolling from 11th a
Slide 5: Q4 & FY20 Results
5 Q4 & FY20 Results
Slide 6: Consolidated Financial Results
6 Consolidated Financial Results Amount in Rs Mn Segment Total All Segments Construction Segment BOT Segment ** Particulars Q4FY20* Q4FY19 %YoY Q4FY20* Q4FY19 %YoY Q4FY20* Q4FY19 %YoY Total Income 16,348.05 19,989.18 -18.2% 12,517.88 14,344.69 -12.7% 3,830.17 5,644.50 -32.1% Earnings before interest
Slide 7: Consolidated Financial Results
7 Consolidated Financial Results Amount in Rs Mn Segment Total All Segments Construction Segment BOT Segment** Particulars FY20* FY19 %YoY FY20* FY19 %YoY FY20* FY19 %YoY Total Income 70,471.79 69,026.18 2.1% 52,105.46 47,097.53 10.6% 18,366.32 21,928.65 -16.2% Earnings before interest, tax and depr
Slide 8: Consolidated Financial Results
8 Consolidated Financial Results Amount in Rs Mn Segment Total All Segments Construction Segment BOT Segment** Particulars Q4FY20* Q3FY19 %YoY Q4FY20* Q3FY20 %YoY Q4FY20* Q3FY20 %YoY Total Income 16,348.05 17,901.75 -8.7% 12,517.88 14,068.47 -11.0% 3,830.17 3,833.28 -0.1% Earnings before interest, t
Slide 9: Strong Financial Track Record Consolidated Financials
9 Strong Financial Track Record Consolidated Financials REVENUE (INR IN MN) EBITDA (INR IN MN) 69,026 70,472 31,715 31,329 31,664 59,691 58,628 28,480 19,989 16,348 8,107 7,053 FY 2017 FY 2018 FY 2019 FY 2020* Q4FY19 Q4FY20* FY 2017 FY 2018 FY 2019 FY 2020* Q4FY19 Q4FY20* PAT (INR IN MN) EPS (IN INR
Slide 10: Strong Financial Track Record Consolidated Financials
10 Strong Financial Track Record Consolidated Financials NETWORTH & ROE NET DEBT & NET DEBT TO EQUITY 14% 14% 2.87 2.11 1.87 13% 11% 0.76 52,716 56,925 63,151 66,829 1,51,498 1,06,711 1,32,999 50,847 FY 2017 FY 2018 FY 2019 FY 2020* FY 2017 FY 2018 FY 2019 FY 2020* Networth (Rs mn) ROE (%) Net Debt
Slide 11: IRB Construction Vertical
11 IRB Construction Vertical
Slide 12: Construction Major
12 Construction Major Strong Construction Efficient Project Large Equipment Bank Ability to Independently Credentials Track Record Execution Capabilities with Cutting Edge Bid for large third party ➢ Country’s first ever BOT ➢ One of the largest BOT ➢ Projects executed Pan- Technologies contracts pr
Slide 13: Strong EPC Execution Capabilities Across Entire Value Chain
13 Strong EPC Execution Capabilities Across Entire Value Chain IRB’s experienced team leverages the latest IT IRB has implemented advanced integrated tools that facilitates in robust project planning project management solutions across the project and effective deployment of resources that life cycl
Slide 14: Infrastructure and Experience in Place to Qualify for Large Bids
Infrastructure and Experience in Place to Qualify 14 for Large Bids on a Standalone Basis ▪ SAP ERP system in place to facilitate quicker response to external challenges ▪ Control Command Center facilities to monitor operations ▪ An asset block of over INR 5 bn of Plant and across all toll plazas ma
Slide 15: Overview of EPC Order Book
15 Overview of EPC Order Book INR 119,970 Mn 72,691 O&M in BOT / TOT Projects EPC/ 47,279 Construction in Ongoing BOT/ HAM Projects Order book Composition as on March 31, 2020 Order Book as of a particular date consists of unbilled revenue from the uncompleted portions of the company’s “existing con
Slide 16: EPC Performance
16 EPC Performance REVENUE & GROWTH PAT & RETURN RATIO 43% 15% 37% 39% 19% 34% 11% 32% 31% 11% 29% 26% 35,912 39,734 47,098 52,105 4,601 6,933 5,214 8,162 FY 2017 FY 2018 FY 2019 FY 2020* FY 2017 FY 2018 FY 2019 FY 2020* Revenue (Rs mn) Growth (%) PAT (Rs mn) ROCE (%) ROE (%) EBITDA & MARGIN NETWORT
Slide 17: IRB Toll Road Portfolio
IRB Toll Road Portfolio © la 17
Slide 18: IRB's Portfolio of Road Assets
IRB’s Portfolio of Road 18 Assets Amount in Rs Mn Adaptability to Changing Market Portfolio Highlights Competitive Advantage Conditions ▪ Fully owned 3 BOT & 1 HAM ▪ Processes in place to estimate ▪ Started off as an EPC Contractor assets aggregating to around the traffic gained from deep and was on
Slide 19: IRB's Portfolio of Road Assets
19 IRB’s Portfolio of Road Assets BOT / HAM PORTFOLIO – KM & LANE KM AXIS TITLE Lane KM under development 3,508 Lane Kms Lanes KM operational 4,754 Lane Kms Lane under O &M ( InvIT 4,055 Lane Kms 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 Assets) Km 236 315 114 196 258 99 385 331 -7
Slide 20: BOT / HAM Portfolio Summary
BOT / HAM Portfolio Summary 20 All 12 BOT and 1 TOT projects are now generating revenues Project Cost Concession Toll Start/Appointed Expected PCOD / Sr. No. Name of BOT Project Client State ( Rs. In Mn) Period Date SSLD* 1. Ahmadabad Vadodara NHAI Gujarat 48,800 25 Years January 1, 2013 - 2. Agra E
Slide 21: BOT Toll Revenue Comparative
BOT Toll Revenue Comparative Amount in INR Mn 21 Sr. Name of the Project FY 2015 FY 2016 FY 2017 FY 2018 FY 2019 FY 2020* Q4FY 2019 Q4FY 2020* No. 1 Ahmedabad – Vadodara 1,566 2,187 3,309 3,808 4,293 4,716 1,144 1,224 2 Chittorgarh – Gulabpura BOT - - - 917 1,970 1,490 461 277 (Tolling Commenced wet
Slide 22: Toll Performance
22 Toll Performance AHMEDABAD - VADODARA PUNE - NASHIK THANE - GHODBUNDER 2015-16 2016-17 2017-18 2018-19 2019-20 2015-16 2016-17 2017-18 2018-19 2019-20 2015-16 2016-17 2017-18 2018-19 2019-20 1,260 321 1,224 91 91 91 90 90 1,144 89 1,135 1,126 1,098 84 TOLL COLLECTION IN RS. MN TOLL COLLECTION IN
Slide 23: Toll Performance
23 Toll Performance AGRA - ETAWAH KAITHAL RJ BORDER SOLAPUR - YEDESHI 2016-17 2017-18 2018-19 2019-20 2017-18 2018-19 2019-20 2017-18 2018-19 2019-20 181 179 174 169 286 168 248 TOLL COLLECTION IN RS. MN 240 160 TOLL COLLECTION IN RS. MN TOLL COLLECTION IN RS. MN 261 228 150 224 247 247 217 242 231
Slide 24: Momentum build-up during Jan-Feb 2020
24 Momentum build-up during Jan-Feb 2020 18% Jan-Feb 2019 Jan-Feb 2020 91.38 77.55 20% 14% 8% 32% 13.85 15.77 14.36 17.21 11.80 12.76 8.66 11.40 Ahmedabad Vadodara Agra Etawah Kaithal - Rj Border Solapur Yedeshi Thane Ghodbunder
Slide 25: Private InvIT: IRB Infrastructure Trust
25 Private InvIT IRB Infrastructure Trust
Slide 26: Private InvIT: IRB Infrastructure Trust
Private InvIT: IRB Infrastructure Trust 26 IRB is 51% owner & sponsor of the Trust owning portfolio of 9 assets, GIC affiliates own the balance 49% IRB GIC 51% 100% 49% IRB Infrastructure Trust Mum-Pune TOT 100% 100% 100% EPC Asset 1 Asset 10 100% 100% 100% Asset 2 Asset 11 Airport . . . . 100% . .
Slide 27: Assets under IRB Infrastructure Trust
27 Assets under IRB Infrastructure Trust Project Length Current Status and No. Name of the Project (in Lane Kms) Highlights Karnataka 758 1 Goa Kundapur 758 PCOD achieved Maharashtra 1,151 2 Solapur Yedeshi 395 PCOD achieved Haryana 3 Yedeshi Aurangabad 756 PCOD achieved Rajasthan Uttar Pradesh Hary
Slide 28: Transaction Benefits
28 Transaction Benefits IRB and GIC have in principal agreed to explore future opportunities in the Roads & Highways sector together Future Projects Orderbook visibility ➢ IRB and GIC have agreed to explore future ➢ Enhanced ability to take on more and INCREASED ABILITY opportunities in the roads an
Slide 29: Corporate Overview
29 Corporate Overview
Slide 30: Credentials of IRB
30 Credentials of IRB DEMONSTRATED TRACK RECORD LARGE ASSET BASE ▪ Incorporated in 1998 and now has Pan-India ▪ IRB has a large asset base of INR 432 presence spread across 9 states bn as on December 31, 2019 ▪ Strong Construction Track record spanning over ▪ Fully owned 2 BOT, 1 TOT , 1 HAM 2 decad
Slide 31: Key Competitive Advantage
31 Key Competitive Advantage Largest BOT Project Portfolio in the Indian Highways and Roads Sector 14 BOT/TOT/HAM projects comprising 13 tolled (including 5 under tolling and construction) and 1 under construction project Strong financial track record and relationship with Key Competitive leading fi
Slide 32: Roadmap so far
32 Roadmap so far Awarded 3 projects for Six Laning of Significant order Upfront payment of Kishangarh – Udaipur wins of INR 90 INR 9.18 bn to – Ahmedabad bn - 1 BOT and MSRDC for Mumbai – section of NH-8/ 79/ foray into HAM Pune Project 79A Projects Successful launch of IRB First venture in Infrast
Slide 33: The "IRB" Group
33 The “IRB” Group IRB’s BOT Road Projects Length in Sr. No. Company Road Name Km 100% 13 BOT Projects 1 ATR Infrastructure Pvt. Ltd. Pune – Nashik BOT NH 50 29.81 2 Thane Ghodbunder Toll Road Pvt. Ltd. Thane Ghodbunder Toll Road BOT 14.90 Roads 100% 1 TOT Project IRB Ahmedabad Vadodara Super Expres
Slide 34: Growth Strategy
Growth Strategy 34 Bharatmala Pariyojana: Strong ▪ ~INR 5 Tn of total investment for developing 34,800km of roads lined up over the next 4-5 years growth envisaged till ▪ Of this INR 1.2 Tn would come from PPP, INR 2 Tn from market borrowings and balance FY 2022 INR ~2 Tn from Budgetary allocation/T
Slide 35: Shareholding Pattern
35 Shareholding Pattern Shareholding Pattern as on March 31, 2020 Top 10 Shareholders as on March 31, 2020 Sr. No. Name % 1 LIFE INSURANCE CORPORATION OF INDIA 3.81 FII/EPI 2 SBI LONG TERM EQUITY FUND 3.46 16.76% 3 GOVERNMENT OF SINGAPORE 3.35 Promoter & Floating 4 ADITYA BIRLA SUN LIFE TRUSTEE PRIV
Slide 36: Organization Structure
36 Organization Structure Mr. Virendra D. Mhaiskar (Chairman and Managing Director) Board of Directors Mrs. Deepali V. Mr. Mukesh Gupta Mr. Sudhir Hoshing Mr. Chandrashekhar Mr. Sunil H. Talati Mr. Sandeep Shah Ms. Heena Raja Mhaiskar Joint Managing Joint Managing S. Kaptan Independent Independent I
Slide 37: Corporate Finance
37 Corporate Finance Internal Auditors Statutory Auditors Mr. Rajkamal R. Bajaj Suresh Surana & Associates LLP BSR & Co LLP Advisor to the Board Chartered Accountants Chartered Accountants Joint Statutory Auditors Bankers / Lenders of IRB Group Gokhale & Sathe Andhra Bank Canara Bank Chartered Accou
Slide 38: Recognition
Recognition 38 EPC Company of the Year 2018 Award conferred on by the EPC World ET Edge Maharashtra Achievers’ Award 2018 was conferred on to Shri Virendra D. Mhaiskar. Chairman & Managing Director, IRB Infrastructure Developers Ltd., as ‘The Best Infra Person of the Year’ for his visionary leadersh
Slide 39: Recognition
Recognition 39 ‘Construction Times Award’ by Construction Times & Equipment Times, for our Solapur Yedeshi Project under category – Best BOT (Road Project of the Year) 2018 ‘FinanceAsia Achievement Award 2017 – Best India Deal’ Award by Hong Kong based FinanceAsia, on successfully launching and list
Slide 40: Our CSR Initiative
40 Our CSR Initiative We have replicated same model and have started a school in the We also generously Pathankot district of Punjab, near the Amritsar- Pathankot BOT project. contributed to the Chief Minister’s The School building was inaugurated on 27 March 2017.The school drought relief fund in M
Slide 41: Thank You
Thank You