IRB Infrastructure Developers : Corporate Presentation December 2022
February 09, 2023
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Investor Presentation
February 2023
India's First Multi-National Infrastructure Company in the Highways Sector
Table of Contents
Financial Highlights
Page 2
Result Highlights
Page 4
Business Overview
Page 9
IRB Parent Overview
Page 26
Private InvIT Overview
Page 33
Public InvIT Overview
Page 39
Appendix - Additional Financial Info
Page 46
Appendix II - Sector Overview
Page 50
Financial Highlights for Q3FY23
In general, WPI linked toll roads provides a natural hedge against interest rate hikes (e.g., Ahmedabad Vadodara tariff and 9 assets of Private Invit +10% since April 2022). Traffic already above pre COVID-level
Mumbai Pune sound revenue growth (+20% YoY, 9MFY23) without any tariff revision
Private InvIT Revenue Growth of +81% YoY, 9MFY23
Ganga Expressway Execution progressing as per schedule.
Chittor Thachur has received the Appointed date, now all projects are under execution
Stable Construction Margins continue
Concession / Contracting
Strong financial position: Net Debt 101.55 Bn, 0.8x Net Debt/Equity, with strong liquidity for future Equity requirement
Corporate rating improve from A to AA- by Crisil ratings
In line with our strategy for optimizing returns, we have refinanced one more BOT project of Private InvIT (USBOT) fixing rates for 5 years and additional cash surplus of Rs 100 mn p.a. over next 5 years
Received Rs. 3,420 mn from Public InvIT towards sale proceeds of VK1
HAM asset
Company receives Shareholders' nod for 1:10 stock split. Thus, face value of the share reduces to Re 1
Financial Position &
Development
IRB member of India Global Compact UN Since July 2022
IRB has published its Sustainability Report for FY22
We are committed to ESG practices with strong focus on emission reduction along with conservation of energy & water
New ESG, Risk Management and HSW committees in place. Our Health, Safety and Wellness team ensures occupational health and safety of employees, which is important for unhindered business continuity
We are committed to ensure resource efficiency and promote circular economy in its operations by effective planning and management of input materials i.e., raw materials.
ESG & Sustainability
2
Result Highlights
Financial Summary (Quarterly YoY)
INR in Million
Total all segments
Construction Segment
BOT Segment
Particulars
Q3FY23
Q3FY22
Q3FY23
Q3FY22
Q3FY23
Q3FY22
Revenue
15,702
14,978
10,165
9,907
5,537
5,070
EBITDA
8,006
9,570
2,910
4,915
5,097
4,655
EBITDA margin
51%
64%
29%
50%
92%
92%
Financial expenses
3,671
5,471
1,160
2,895
2,512
2,576
Depreciation and amortization
2,150
1,924
151
86
2,000
1,838
PBT (Before JV)
2,185
2,176
1,599
1,934
585
242
PAT (Before JV)
1,538
1,689
1,035
1,496
504
193
PAT margin
10%
11%
10%
15%
9%
4%
Share of profit/(loss) in JV/Associates
(125)
(962)
0
0
(125)
(962)
PAT after Share of profit/(loss) in JV/Associates
1,414
727
1,035
1,496
379
(770)
4
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Disclaimer
IRB Infrastructure Developers Ltd. published this content on 10 February 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 February 2023 15:07:08 UTC.
IRB Infrastructure Developers Ltd. is an India-based integrated and multinational transport infrastructure developer in roads and highways sector, with major presence in the build-operate-transfer (BOT) space. The Company's in-house integrated project execution capabilities include engineering, procurement and construction (EPC) and operation and maintenance (O&M) across all its business verticals like BOT, toll-operate-transfer (TOT) and hybrid annuity model (HAM). Its segments include BOT/TOT Projects and Construction. The BOT/TOT Projects segment includes operation and maintenance of roads. The Construction segment includes development and maintenance of roads. Its highways infrastructure projects include BOT Projects, BOT/TOT Projects (Private InvIT), Projects under O & M (Public InvIT), TOT Projects, HAM Projects and Completed Concessions. The Company's airport infrastructure projects include Sindhudurg Airport. It has approximately 15,500 lane kilometers under operation.