Slide 1: Corporate Presentation April 2017
CORPORATE PRESENTATION APRIL 2017 1
Slide 2: Executive Summary
Executive Header Summary Goes Here • MEP Infrastructure Developers Ltd (MEP), is one of the leading players for OMT and Toll Collection projects in India. Company CompanyOverview Overview • Founded in 2002 by current promoters Mr Dattatray Mhaiskar and Jayant Mhaiskar, MEP commenced operations with
Slide 3: Company Overview
Header Goes Here COMPANY OVERVIEW COMPANY OVERVIEW 3
Slide 4: Company Profile
Header CompanyGoes Here Profile Leading and Diversified Player Revenue Mix – FY16 Since commencing operations in 2002 from a pure toll collection business model, MEP has evolved into a diversified Infrastructure company having operations in OMT and Toll collections and its recent foray into constr
Slide 5: Key Milestones
Header Goes Here Key Milestones MEPIDL (in JV with Sanjose India) Crossed INR 10,000 mn of revenue 2016 forayed into road development with Awarded the Mumbai Entry in a single financial year (FY 12) for Hybrid Annuity model projects Points Projects on OMT basis the first time Won 6 HAM proje
Slide 6: Diversified Project Portfolio With Pan-India Presence
Header Goes Diversified Here Project Portfolio With Pan-India Presence Current Portfolio Across Eight States In India Current Project Mix Long Short Location OMT Term Term HAM BOT Total Toll Toll Maharashtra 2 1 - 4 1 8 Tamil Nadu - - 1 - - 1 Rajasthan - - 2 - - 2 Uttar Pradesh Gujarat - - - 2 - 2 R
Slide 7: Corporate Structure
Header Goes Corporate Here Structure MEP Infrastructure Developers Limited Long Term OMT Projects HAM Projects BOT Projects Other Subsidiaries / Associate Toll Collection Projects MIPL - MEP Infrastructure Arawali Kante MEP HS - MEP Highway Solutions Private Private Limited (99.99%) RTBPL - Rideema
Slide 8: Experienced Promoters and Board Of Directors
Header GoesPromoters Experienced Here and Board Of Directors Name & Designation Experience Dattatray P. Mhaiskar Founding Director and Promoter of the Company Chairman, Non Independent Holds a Diploma in Civil Engineering from Sir Cursow Wadia Institute of Electrical Technology, Pune and Non Exe
Slide 9: Key Management
Header Goes HereTeam Key Management Name & Designation Experience Uttam Pawar Bachelor’s degree in Commerce from Shivaji University, Kolhapur with over 25 years of experience in tolling business Chief Tolling Officer Previously associated with Ideal Road Builders Private Limited Sameer Apte Ba
Slide 10: Key Management
Header Goes HereTeam Key Management Name & Designation Experience Bachelor’s Degree in Engineering (Civil) from Govt. College of Engineering from Aurangabad in 1984 and was university topper. Passed MPSC exam of GOM. Professional experience of 32 years. Worked in Maharashtra state PWD and MSRDC
Slide 11: Business Overview
Header Goes Here BUSINESS OVERVIEW 11
Slide 12: Understanding The Business Model
Understanding Header The Business Model Goes Here Risks borne by Concessionaire Types Description Revenue Stream Concession Period Award Criteria Development Financing Traffic ~ 1 year Private party collects toll during the (Short-term) Highest revenue Tolling concession period and pays the Toll ~ 1
Slide 13: Short Term (ST) Toll Collection Projects
Short Term Header (ST) Here Goes Toll Collection Projects Short Term Toll projects do not require any initial capex and bear no maintenance responsibility. The concessionaire are not required to provide any upfront payments to the authorities, rather only a performance security (funded / non-funded)
Slide 14: Long Term (LT) Toll Collection Projects
Header Goes Long Term Here (LT) Toll Collection Projects Long Term Toll projects do not require any initial capex and have no maintenance responsibility. The concessionaire is not required to provide Upfront payment to Authority under NHAI, although upfront payments to authorities are required for c
Slide 15: Operate-Maintain-Toll (OMT) Projects
Header Goes Here Operate-Maintain-Toll(OMT) Projects OMT projects do not require any initial capex but have a maintenance responsibility. The concessionaire is not required to provide Upfront payment to Authority(NHAI). Payment to Authority is an operational expense and needs to be paid from toll ca
Slide 16: Hybrid Annuity Model (HAM)
Header Goes Model Hybrid Annuity Here (HAM) HAM projects require initial capex wherein 60% of project cost is financed by the developer and is to be recovered as bi-annual payments from the authorities over 15 years. Out of total project cost, the balance 40% is invested by the government during t
Slide 17: Our Project Timelines
Header Goes Our Project Here Timelines Long Term Toll Operate Maintain Toll Mumbai Entry Points Kalyan Shilphata Rajiv Gandhi Sea link Vidyasagar Setu Hyderabad- Banglore Short Term Toll Hybrid Annuity Model Construction Period Annuity Period Sau Kala Mahuva Kagavadar Ghangari Talaja Mahuva Lalsot K
Slide 18: Competitive Advantage
Header Goes Here COMPETITIVE ADVANTAGE 18
Slide 19: Leadership Position In OMT And Toll Collection In India
Header Goes Leadership HereIn OMT And Toll Collection In India Position Leading Player In The OMT No. of Projects Awarded Lane (Km) Estimated Project Cost (INR mn) 5 5 2,550 2,400 4150 2,200 3,400 3,000 1,600 2,600 2 2 1,050 1,850 1 MEPIDL PATH DRAIPL SMS PI MEPIDL PATH DRAIPL SMS PI MEPIDL PATH DRA
Slide 20: Integrated Structure with in-house capabilities
Header Goes Integrated Here with in-house capabilities Structure In-house business development team prepares tendering documents for all the bids. Tendering Company’s ability to tender appropriately depends significantly on the assessment of the future traffic patterns and the amount of toll to
Slide 21: Use Of Advanced Technology For Toll Collection
Header Goes Here Use Of Advanced Technology For Toll Collection Use of Advanced Technology for Toll Collection leads to improved Operational Efficiency And Transparency ETC System: Electronic Toll Collection (ETC) systems are based on prepaid mode of toll collection either through smart cards or R
Slide 22: Strategic Relationships
Header StrategicGoes Here Relationships Collaboration with Sanjose India Marquee Projects by Sanjose LOUVRE ABU DHABI MUSEUM SANJOSE is a diversified global company present in over twenty countries around Europe, America, Asia and Africa. Its main business lines are: Construction, Energy and Envir
Slide 23: Industry Overview
Header Goes Here INDUSTRY OVERVIEW 23
Slide 24: Indian Road Sector On Revival Path
Header Goes Indian Road HereOn Revival Path Sector The total length of the National highways is expected to cross ~200,000 km in next 5 years. Significant Pickup In New Projects a) This expansion will include ~ 25,000 km under Bharat Mala Project and declaration of ~75,000 km of State highways as Na
Slide 25: Evolving Trend in Project Awards - EPC vs BOT vs HAM
Header Evolving Goes Here Trend in Project Awards - EPC vs BOT vs HAM Length Awarded On EPC, BOT and Hybrid - Annuity Formats During 2005-06 to 2015-16 (In Km) 6,400 5,058 3,065 3,360 3,149 2,364 1,608 1,390 1,145 1,116 1,244 643 703 873 345 89 221 377 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY
Slide 26: Outlook On OMT, TOLL, HAM & TOT Models
Header Outlook Goes Here On OMT, TOLL, HAM & TOT Models According to CRISIL estimates, the total stretch under OMT model for NHAI and key states (combined) is expected to double from ~ 5,600 km in 2014 -15 to ~ 11,600 km by 2018-19. OMT The total number of OMT projects is expected to increase fr
Slide 27: Infrastructure Trust (InvIT)
Header GoesInvestment Infrastructure Here Trust (InvIT) Key Highlights InvIT Framework Sponsor Institutional Investors Not more than 3 The Sponsor is required to hold a minimum of 25% stake in the InvIT. SEBI has proposed to relax the minimum Sponsor Listing is Mandatory Asset Management holding t
Slide 28: Financial Overview
Header Goes Here FINANCIAL OVERVIEW 28
Slide 29: 9 Months P&L Statement
Header 9 MonthsGoes Here P&L Statement In INR Mn Particulars 9M FY17 9M FY16 YoY% Total Revenues from Operations 12,975 13.973 (7.1)% Other Income 568 558 1.8% Operating and Maintaining Expenses 2,254 1.818 24.0% Employee Expenses 554 548 1.1% Other Expenses 295 247 19.4% Depreciation & Amortization
Slide 30: Consolidated P&L Statement
Header GoesP&L Consolidated Here Statement In INR Mn Particulars FY14 FY15 FY16 Revenue from Operations 11,979 20,088 20,068 Other Income 433 325 407 Operating and Maintaining Expenses 8,015 14,570 13,333 Employee Expenses 499 761 775 Other Expenses 360 321 411 EBITDA 3,538 4,761 5,955 EBITDA Margin
Slide 31: Consolidated Balance Sheet
Header GoesBalance Consolidated Here Sheet In INR Mn Particulars in INR Mn FY14 FY15 FY16 Particulars in INR Mn FY14 FY15 FY16 Equities & Liabilities Assets Shareholder's Funds Non-Current Assets Share Capital 1,000 1,115 1,626 Fixed Assets 23,695 21,722 20,360 Reserves & Surplus -1,878 -3,379 -613
Slide 32: FY16 Results Highlights
Header Goes FY16 Results Here Highlights REVENUE FROM OPERATIONS (INR Mn) EBITDA (INR Mn) & EBITDA MARGIN 25,000 7,000 5,955 35.0% 29.5% 29.7% 20,088 20,068 6,000 30.0% 20,000 23.7% 5,000 25.0% 15,000 4,000 3,538 4,761 20.0% 11,979 10,000 3,000 15.0% 2,000 10.0% 5,000 1,000 5.0% 0 0 0.0% FY14 FY15 F
Slide 33: Shareholding Structure
Header Goes Shareholding Here Structure Share Price Performance As on 31.03.2017 Market Data (BSE) MEP Infra SENSEX 40% Market Capitalization (INR Mn) 8,575.5 30% No. of shares outstanding (Mn) 162.6 20% 10% Face Value (INR) 10.0 0% 52 week High-Low (INR) 54.6 – 34.0 -10% -20% 1 Year Daily Average T
Slide 34: Disclaimer
Header DisclaimerGoes Here MEP infrastructure Developers Ltd. Disclaimer: No representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or opinions contained in this presentation. Such inf