Il&fs Transportation Networks Limited · NSE:IL&FSTRANS
Il&fs Transportation Networks — Q1 FY2013 Earnings Presentation
31 slides from Il&fs Transportation Networks's earnings presentation, Aug 9, 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 ITNL has a pan India presence with projects in 16 states in India PAN India presence with Promoted by Infrastructure Leasing and Financial Services Limited BoT
Slide 5: Key Differentiators
Key Differentiators Market Leadership in the Transportation Infrastructure Sector • With around 12,000 lane km comprised in 23 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 • Fair mix of “Annuity / assured payments” and “Toll” based projects in various stages of development Kharagpur Baleshwar RIDCOR III 500000 Kiratpur Sikar Jharkhand Road 1200
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 ~ `1088 cr with a concession period of 99 years - ITNL stake in the project ~59.3% L
Slide 9: 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 GoR Toll 698 8,126 Me
Slide 10: Project Pipeline for FY12
Project Pipeline for FY12 As of July 31, 2012 BID PIPELINE RFP Stage (Post Qualification) RFQ Stage (Pre Qualification) Projects Length (km) `Mn) Cost (` Projects Length (km) ` Mn) Cost (` NHAI 8 1004 78,340 29 3,670 2,81,696 State 4 277 9,670 3 257 8,200 BRO - - - 1 6.5 30,600 Total 12 1,281 88,010
Slide 11: Road Sector Opportunity
Road Sector Opportunity ~23,000 km of award pending under NHDP – to be substantially executed under PPP NHAI has targeted award of around 8,800 km in FY13 Program Current rollout plan (in Km) NHDP-III 1,274 NHDP-IV 7,235 NHDP-V 2,561 SARDP-NE 81 Total 11,151 Approved Financing Plan of NHDP (public/p
Slide 12: Financial Parameters (Consolidated)
Financial Parameters (Consolidated) Revenue EBITDA(1) (` mn) (` mn) 15,894 57,294 14,000 60,000 12,335 50,000 12,000 41,274 10,000 8,785 40,000 24,873 8,000 30,000 5,015 16,145 6,000 20,000 13,320 2,489 2,900 4,000 10,000 4,375 2,000 - - FY08 FY09 FY10 FY11 FY12 Q1FY13 FY08 FY09 FY10 FY11 FY12 Q1FY1
Slide 13: Financial Parameters (Standalone)
Financial Parameters (Standalone) Revenue EBITDA(1) (` mn) 6,899 29,102 (` mn) 6,440 30,000 7,000 6,171 25,000 6,000 17,010 5,000 20,000 4,000 15,000 2,425 9,415 8,175 3,000 10,000 2,000 1,358 1,323 5,000 2,499 2,277 1,000 - - FY08 FY09 FY10 FY11 FY12 Q1FY13 FY08 FY09 FY10 FY11 FY12 Q1FY13 Profit Af
Slide 14: Profit & Loss Accounts Highlights
Profit & Loss Accounts Highlights (All figures in ` million) Consolidated Standalone Key Parameters Q1FY13 Q1FY12 % Change Q1FY13 Q1FY12 % Change Revenue 16,145 11,156 45% 8,175 5,484 49% Other Income 349 230 52% 482 268 80% EBITDA 5,015 3,537 42% 2,425 1,599 52% EBITDA Margin 31% 32% 30% 29% Intere
Slide 15: Standalone Revenue & Expenses
Standalone Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 14,000 8000 12,000 10,000 6000 23% 8,000 1,918 25% 4000 6,000 5,084 1,395 4,000 67% 68% 2000 3,378 5,566 3,677 2,000 0 - Q1FY12 Q1FY13 Q1FY12 Q1FY13 Constr Income Fee Income O&M Income Other Construction Cost Employees cost
Slide 16: Consolidated Revenue & Expenses
Consolidated Revenue & Expenses Revenue Expenses (in ` million) (in ` million) 20,000 15,000.00 15,000 2,052 13% 14% 2,059 10,000.00 1,256 10,000 1,617 66% 67% 10,721 5,000.00 8,061 5,000 7,527 5,174 - - Q1FY12 Q1FY13 Q1FY12 Q1FY13 Constr Income Elsamex Toll/Annuity Other Construction Cost Other Ope
Slide 17: Debt Equity Analysis
Debt Equity Analysis Standalone Consolidated (in ` million) (in ` million) 120,000 5.00 120,000 115,355 5.00 4.50 102,259 4.50 100,000 100,000 3.98 4.00 4.00 80,000 3.50 80,000 3.70 3.50 3.00 60,000 60,000 3.00 2.50 2.50 40,000 27,261 28,707 2.00 40,000 27,638 28,968 19,438 20,430 1.50 2.00 20,000 2
Slide 18: In the Works…
In the Works… Capital Works remaining to be executed (ITNL proportionate share) (In ` million as on 30-June-2012) Of projects awarded till last quarter* 1,07,432 Of projects awarded after last quarter - Total of Capital Works remaining to be executed 1,07,432 Uttar Pradesh Andhra Pradesh Orissa & 7.
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 FY11 In FY 12 In Q1 FY 13 Ahmedabad Mehsana Road (Gujarat) 1.32 1.59 1.70 Vadodra Halol Road (Gujarat) 1.01 1.24 1.28 NoidaToll Brid
Slide 20: BOT Toll Revenue Growth
BOT Toll Revenue Growth Rs 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 - Raj
Slide 21: IL&FS - Strong Parentage
IL&FS - Strong Parentage IL&FS Overview IL&FS Shareholding Incorporated in 1987 as a JV between the Central Bank of India (CBI), Housing Development Finance Corporation Limited (HDFC) and Unit Trust of India (UTI) to commercialize infrastructure projects and work with public & private sector IL&FS E
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
Slide 23: Experienced Board of Directors
Experienced Board of Directors Independent Directors Non-Independent Directors Name Designation Name Designation Mr Deepak Dasgupta Chairman; Former Chairman, NHAI Mr Ravi Parthasarthy Chairman, IL&FS 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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