Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — Investor Presentation (April 2011)
23 slides from Il&fs Transportation Networks's investor presentation, Apr 29, 2011
Slide 1: IL&FS Transportation Networks Limited Analyst Presentation – April 2011
IL&FS Transportation Networks Limited Analyst Presentation – April 2011 April 29, 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 y Differentiators y The ITNL Group y Project j Portfolio y Recent Project Awards and Financial Closures y Project Pipeline y Road Sector Opportunity y Financial Performance Parameters y Key Quarterly Financial Parameters of FY11 y Capital Works Remainin
Slide 4: An Introduction
An Introduction IL&FS Transportation Networks Limited (ITNL) has the largest BoT road asset portfolio (in terms of lane kilometer) in India Jammu & Kashmir ITNL has a pan India presence with projects in around 14 states PAN India presence with Promoted by Infrastructure Leasing and Financial S
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 Mar 31, 2011 83.61% GRICL 25.35% 25 35% NTBCL Operating Subsidiaries 87.25%* NKEL 100.00%* WGEL 57.50% 100.00% 50.00%* RIDCOR CO 49.93% TRDCL 100.00%* IERS Elsamex SA APEL 74.00%* CHDCL 74.00%* JARDCL 48.00% 100.00% JRPICL 74.00% EHEL 20 subsi
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 Chhattisgarh Horgos(1) 500000 Road Udhampur Developme
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: Recent Project Awards & Financial Closures
Recent Project Awards & Financial Closures ITNL Secured projects worth around ` 80 billion each year Debt Tied-up during FY10 & FY11 in the last 2 financial years Debt tied‐up p BOT Length Estimated Cost Project Authority Project ( ` Million) Type (lane km) ( ` Million) Road Sector Ranchi to Hazarib
Slide 10: Project Pipeline for FY12
Project Pipeline for FY12 Lowest/Preferred Bidder Projects Stake Type Length (lane km) Estimated Cost Almatyy to Khorgos g in Kazakhstan Govt of Kazakhstan 37% Toll// Annuityy 1,212 , 98,400 , Udhampur to Ramban in J&K NHAI 100% Annuity 186 15,000 Outdoor Stadium at Karyavattom, Kerela National Game
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% In the envisaged XIIth Five Year Plan, the Government targets NHAI Construction Targets for 2011-12 to mobilize huge investments in transportation infrastructure Program Target i
Slide 12: Financial Parameters (Consolidated)
Financial Parameters (Consolidated) Revenue EBITDA(1) (` mn) (` mn) 50000 41,274 15000 12,335 40000 12000 8,785 30000 24,873 9000 20000 13,320 6000 2,489 2,900 10000 1 981 1,981 4,375 3000 960 0 0 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 PAT((2)) ((4)) Average Capital Employed((3)(4) )( ) (
Slide 13: Financial Parameters (Standalone)
Financial Parameters (Standalone) Revenue EBITDA(1) (` mn) (` mn) 6,440 6,171 20000 17,010 6000 15000 9,415 4000 10000 2000 1,358 1,323 5000 1,649 2 499 2,499 2 277 2,277 796 0 0 2007 2008 2009 2010 2011 2007 2008 2009 2010 2011 PAT((2)) Average Capital Employed((3)) RoE (%) (` mn) (` mn) RoCE (%) 3
Slide 14: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in ` million) Consolidated Standalone Key Parameters FY11 FY10 % Change FY11 FY10 % Change Revenue 41,274 24,873 66% 17,010 9,415 81% EBITDA 12,335 8,785 40% 6,171 6,440 ‐3% EBITDA Margin 30% 35% 36% 68% Interest* 4,981 2,941 69% 1,555 1,425 9% Deprecia
Slide 15: Standalone Revenue & Expenses
Standalone Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 5% 8,000 8,000 1,407 18% 6,000 6,000 77% 9% 4,000 4,000 12% 1,130 29% 12% 6,020 5,314 2,000 1,424 53% 2,000 1,606 63% 63% 2,483 1,996 25% 959 36% 558 838 633 - - Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Constr Income Fee Income O&M Income O
Slide 16: Consolidated Revenue & Expenses
Consolidated Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 17,500 , 17 500 17,500 7% 15,000 15,000 2,486 15% 12,500 12,500 10,000 9% 10,000 10% 30% 12% 7,500 2,684 7,500 2,503 32% 12,118 2,053 27% 72% 10,122 5,000 5,000 4,312 54% 5,259 58% 54% 2,500 4,026 2,500 3,174 2,152 2,448
Slide 17: Debt Equity Analysis
Debt Equity Analysis Standalone Consolidated (in ` million) (in ` million) 60000 3.00 60,000 54,670 3.00 50000 50,000 46,981 2.50 40,166 2.32 2.50 2.34 40000 40,000 35,005 2.00 2.06 30000 30 000 30,000 1.93 2 00 2.00 23,532 18,941 1.50 20,035 20000 16,495 17,280 17,908 18,638 18,165 19,459 20,000 13
Slide 18: In the Works…
In the Works… Capital Works remaining to be executed (ITNL proportionate share) (In ` million as on 31‐Mar‐11) Of projects awarded till last quarter* 92,900 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 10
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 FY11 In Q4FY11 Ahmedabad Mehsana Road (Gujarat) 1.17 1.32 1.43 Vadodra Halol Road (Gujarat) 0.86 1.01 1.09 Noida Toll Bridge (
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* Trinity (Mar, 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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