Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — H1 FY2013 Earnings Presentation
31 slides from Il&fs Transportation Networks's earnings presentation, Nov 6, 2012
Slide 1: Slide 1
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 Key Differentiators The ITNL Group Project Portfolio Recent Project Awards and Financial Closures Project Pipeline Road Sector Opportunity Financial Performance Parameters Key Quarterly Financial Parameters Capital Works Remaining to be Executed Toll and Annuit
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 16 states in India PAN India presence with Promoted by Infrastructure Leasing and Financial Servi
Slide 5: Key Differentiators
Key Differentiators Market Leadership in the Transportation Infrastructure Sector • With around 12,000 lane km comprised in 24 projects in its road assets portfolio • Forays into other surface transportation sub-sectors like metro, bus & border check-post Track Record of Successful Project Implement
Slide 6: Organization Chart
Organization Chart Annuity Projects Toll Projects Urban Transport Projects Others North Karnataka Expressway Gujarat Toll Road (83.6%) Vansh Nimay - Bus (90%) IL&FS Rail Ltd (69.3%) (93.5%1) Andhra Pradesh Expressway Rapid Metro Rail ITNL Offshore Pte. Ltd. West Gujarat Eway (100%1) (100%1) Gurgaon
Slide 7: Portfolio: Road Projects
Portfolio: Road Projects • Diverse BOT portfolio of 23 road projects covering 11,860 lane km spread across 16 states in India Kharagpur • Fair mix of “Annuity / assured payments” and “Toll” based projects in various stages of development Baleshwar RIDCOR III 500000 Kiratpur Sikar Jharkhand Road 1200
Slide 8: Portfolio: Metro Rail
Portfolio: Metro Rail Rapid MetroRail Project: Awarded by Haryana Urban Development Authority (HUDA) Metro link from Delhi metro Sikanderpur station to DLF Cyber City on NH-8 in Gurgaon – around 4.9 km Project Cost of ~ `1088 cr with a concession period of 99 years - ITNL stake in the project ~59.3%
Slide 9: Portfolio: Other Concessions
Portfolio: Other Concessions MP Border Check Post Project – awarded by the Government of Madhya Pradesh Border In consortium with Spanco (ITNL stake 51%), 24 border check-post in MP to be developed Entry Revenue sources – entry fee from commercial vehicles, parking fee, loading/unloading etc. Point
Slide 10: Recent Project Awards & Financial Closures
Recent Project Awards & Financial Closures ITNL Secured projects worth around ` 74 billion each year Debt Tied-up in the last 2 financial years BOT Length Estimated Cost Debt tied-up Project Authority Project Type (lane km) ( ` Million) ( ` Million) Road Sector Mega Highways –II 6,098 Mega Highways-
Slide 11: Project Pipeline for FY12
Project Pipeline for FY12 As of October 31, 2012 BID PIPELINE RFP Stage (Post Qualification) RFQ Stage (Pre Qualification) Projects Length (km) `Mn) Cost (` Projects Length (km) ` Mn) Cost (` NHAI 6 645 16,938 15 2,120 150,127 State 0 0 0 0 0 0 BRO 8 797 47,055 7 640 136,839 Total 14 1,442 63,993 22
Slide 12: Financial Parameters (Consolidated)
Financial Parameters (Consolidated) Revenue EBITDA(1) (` mn) (` mn) 15,894 57,294 60,000 14,000 12,335 50,000 12,000 9,962 41,274 10,000 8,785 40,000 30,273 24,873 8,000 30,000 6,000 20,000 13,320 2,489 2,900 4,000 10,000 4,375 2,000 - - FY08 FY09 FY10 FY11 FY12 H1FY13 FY08 FY09 FY10 FY11 FY12 H1FY1
Slide 13: Financial Parameters (Standalone)
Financial Parameters (Standalone) Revenue EBITDA(1) (` mn) (` mn) 29,102 6,899 30,000 7,000 6,440 6,171 25,000 6,000 4,884 20,000 17,010 5,000 14,863 4,000 15,000 9,415 3,000 10,000 2,000 1,358 1,323 5,000 2,499 2,277 1,000 - - FY08 FY09 FY10 FY11 FY12 H1FY13 FY08 FY09 FY10 FY11 FY12 H1FY13 Profit A
Slide 14: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in ` million) Consolidated Standalone Key Parameters Q2FY13 Q2FY12 % Change Q2FY13 Q2FY12 % Change Revenue 13,754 12,560 10% 6,164 6,483 -1% Other Income 373 258 45% 525 288 82% EBITDA 4,950 3,829 29% 2,459 1,620 52% EBITDA Margin 35% 30% 37% 24% Intere
Slide 15: Standalone Revenue & Expenses
Standalone Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 16,000 16000 14,000 14000 12,000 27% 4,006 12000 22% 2,641 10,000 10000 8,000 8000 6,000 6000 72% 8,766 64% 9,443 31% 2,088 7,936 8,595 4,000 4000 58% 3,877 2000 3,511 2,000 0 - H1FY12 H1FY13 Q2FY13 H1FY12 H1FY13 Q2FY13 Con
Slide 16: Consolidated Revenue & Expenses
Consolidated Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 30,000 14% 4,167 30,000 25,000 11% 2,604 13% 4,017 25,000 20,000 14% 3,448 20,000 15,000 15% 2,115 15,000 66% 19,924 14% 1,958 10,000 68% 16,401 10,000 14,959 65% 9,203 12,182 5,000 5,000 6,299 - - H1FY12 H1FY13 Q2FY13 H1
Slide 17: Debt Equity Analysis
Debt Equity Analysis Standalone Consolidated (in ` million) (in ` million) 120,000 5.00 120,000 120,657 5.00 115,355 110,000 4.50 110,000 102,259 4.50 100,000 100,000 3.98 90,000 4.00 90,000 3.81 4.00 80,000 3.50 80,000 3.70 70,000 3.50 3.00 70,000 60,000 60,000 3.00 50,000 2.50 50,000 40,000 31,383
Slide 18: In the Works…
In the Works… Capital Works remaining to be executed (ITNL proportionate share) (In ` million as on 30-Sept-2012) Of projects awarded till last quarter 1,08,793 Of projects awarded after last quarter - Total of Capital Works remaining to be executed 1,08,793 Andhra Non Road Uttar Pradesh Pradesh Pro
Slide 19: Revenue Collection on Operational Road Projects
Revenue Collection on Operational Road Projects Not adjusted for ITNL’s stake (All figures in ` million) Toll Projects under Operation Average Daily Toll Collection In Q1 FY 13 In Q2 FY 13 Ahmedabad Mehsana Road (Gujarat) 1.70 1.70 Vadodra Halol Road (Gujarat) 1.28 1.24 Noida Toll Bridge (UP) 2.24 2
Slide 20: BOT Toll Revenue Growth
BOT Toll Revenue Growth ` in million Toll Revenue start Sr.No Name of the Project 2007-08 2008-09 2009-10 2010-11 2011-12 date Ahmedabad Mehsana Road 1 Feb-03 (Gujarat) 614 660 747 850 1037 2 Vadodra Halol Road (Gujarat) Oct-00 3 Noida Toll Bridge (UP) Feb-01 547 659 706 696 774 Mega Highways - Raja
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 Our Parent Shareholding (CBI), Housing Development Finance Corporation Limited (HDFC) and Unit IL&FS Shareholding Trust of India (UTI) to commercialize infrastructure projects and work with public
Slide 22: 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) Capital ` 1542 Cr* (Dec, 2006) * Post money valuation 21 21
Slide 23: Experienced Board of Directors
Experienced Board of Directors Independent Directors Non-Independent Directors Name Designation Name Designation Mr Ravi Mr Deepak Chairman, IL&FS Chairman; Former Chairman, NHAI Parthasarthy Dasgupta Mr Hari Sankaran Managing Director, IL&FS Mr RC Sinha Former Vice Chairman & MD, Maharashtra Airpor
Slide 24: Key Managerial Personnel
Key Managerial Personnel K. Ramchand • He has over 31 years of experience in urban and transport infrastructure development sector Managing Director Mukund Sapre • He has over 28 years of experience in the industry. Executive Director Harish Mathur • Has over 34 years of experience in various road c
Slide 25: Road Projects
Road Projects
Slide 26: Operational Projects
Operational Projects 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 Delhi
Slide 27: Operational Projects
Operational Projects Andhra Pradesh Expressway Thiruvananthapuram City Mega Highways Project Beawar Gomti Road East Hyderabad Expressway Name of Project (APEL) Roads (Phase I) (TRDCL) Rajasthan (RIDCOR) (IRIDCL) Ltd (EHEL) Authority NHAI KRFB Govt. of Rajasthan MORTH HUDA State Andhra Pradesh Kerala
Slide 28: Project Under Implementation
Project Under Implementation Thiruvananthapuram City Jharkhand Accelerated Pune Sholapur Road Mega Highways Project, Hazaribagh Ranchi Name of Project Roads (Phase II & III) Road Development Development Company Rajasthan (Additional) Expressway Limited (HREL) (TRDCL) Programme (JRPICL) Limited (PSRD
Slide 29: Project Under Implementation
Project Under Implementation Chandrapur Warora Moradabad to Bareilly Chennani - Nashri Jorabat Shillong Narketpally - Addanki M P Border Check Post Name of Project WCBTRL) (MBEL) (CNTL) (JSEL) (NAMEL) (MPBCDCL) Authority PWD, Maharashtra NHAI NHAI NHAI Govt. of Andhra Pradesh MPRDC State Maharashtra
Slide 30: Project Under Implementation
Project Under Implementation Chaibasa Kandra Chowka Adityapur Kandra Kiratpur Ner Chowk Kharagpur Baleshwar Beawer Gomti Name of Project Sikar Bikaner Road (JRPICL) Road (JRPICL) (KNEL) Road (BKEL) (Additional) Authority Govt of Jharkhand Govt of Jharkhand NHAI NHAI MoRTH MoRTH State Jharkhand Jhark
Slide 31: 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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