Indraprastha Gas Limited · NSE:IGL
Indraprastha Gas — Investor Presentation (May 2015)
24 slides from Indraprastha Gas's investor presentation, May 28, 2015
Slide 1: Indraprastha Gas Limited: An Overview
INDRAPRASTHA GAS LIMITED An Overview 1 28.05.2015 1
Slide 2: Background
Background Incorporated in 1998, IGL is a Joint Venture of GAIL and BPCL. Govt. of NCT of Delhi is also holding 5% equity IGL started its operations in NCT of Delhi in 1999 with only 9 CNG stations and 1000 PNG consumers Today IGL has its operations in NCT of Delhi, Noida, Greater Noida and Ghaziaba
Slide 3: Shareholding Pattern
Shareholding Pattern % HOLDING Promoters - 45% (GAIL-22.5% & BPCL- 22.5%) Government of NCT of Delhi - 5% Foreign Institution Investors - 18% Mutual Funds - 7% Indian Financial Institutions & Banks - 1% Insurance Companies - 9% Public / Others - 15% 15% 9% 45% 1% 7% 15% 5% 1 3
Slide 4: Management
Management IGL Board is fairly well diversified with ten members including two each from GAIL and BPCL, one from Govt. of Delhi and five independent directors. The company is beneficiary of its strong parentage and gets significant support from GAIL and BPCL relating to operations and management. By
Slide 5: Area of Operation
Area of Operation Delhi: National capital of India has huge demand potential: where all public transport vehicles have to be necessarily run on CNG in view of the directions of the Hon. Supreme Court of India. has the highest number of private cars compared to any other city of India thickly populat
Slide 6: Segment & Current Sales Volume Mix
Segment & Current Sales Volume Mix Chart Title Comm./ Ind. 11% Sale to other CGD Cos. 6% Residential 6% CNG 77% 1 6
Slide 7: Sales Volumes
Sales Volumes Figures in MMSCM CAGR FY11 FY12 FY13 FY14 FY15 last five years CNG 818 936 1,005 1,028 1,073 6% PNG 180 282 333 356 330 13% Total 998 1,218 1,338 1,384 1,403 7% Sale Daily Average 2.73 3.34 3.67 3.79 3.84 7% Sale 1 7
Slide 8: Gas Sourcing
Gas Sourcing Firm allocation from Govt. of India of domestic gas for the entire consumption of CNG and PNG Domestic segment. Lower prices of domestic gas makes the economics of switching to gas more attractive driving growth in CNG & PNG- Domestic segments which constitute around 83% of the total
Slide 9: Current Gas Mix
Current Gas Mix Chart Title PMT 18% APM 68% 1 9
Slide 10: Growth in CNG
Growth in CNG March' March' March' March' March' March'1 PARAMETER UNIT 10 11 12 13 14 5 No of CNG Nos 241 278 308 324 325 326 Stations Compression (Lakh 36.40 51.13 59.56 63.83 66.17 68.49 Capacity kg/day) Average CNG (Lakh 14.46 16.71 19.15 20.72 21.20 22.07 Sale kg/day) 1 10
Slide 11: CNG Station Network
CNG Station Network Figures in numbers DTC/ STATION IGL OMC TOTAL UPSRTC Online 126 53 115 294 Daughter Booster 2 0 30 32 Total 128 53 145 326 1 11
Slide 12: CNG Vehicles
CNG Vehicles Figures in numbers C A GR M arch' M arch' M arch' M arch' M arch' last five 11 12 13 14 15 years B uses 16655 18839 18826 19566 19421 7% A uto/LGV 121854 159123 193852 206352 228002 16% R TV 11070 13007 14062 14039 13538 19% C ars/Taxi 281802 359176 460926 514801 556156 21% Total 431381
Slide 13: PNG Users
PNG Users Figures in numbers CATEGORY March' 11 March' 12 March' 13 March' 14 March' 15 Domestic 245000 332844 386696 459467 560752 Commercia l/ Industrial 520 862 1382 1876 2292 Total 245520 333706 388078 461343 563044 1 13
Slide 14: PNG Network
PNG Network Figures in kilometers M CAGR aMarch March March March March' last CATEGORY r '11 '12 '13 '14 15 five c years Steel Pipeline 421 574 631 658 681 18% MDPE 4420 6479 7783 8438 8966 31% Pipeline Total 4841 7053 8414 9096 9647 30% 1 14
Slide 15: Turnover, EBIDTA & PAT
Turnover, EBIDTA & PAT Rs./Crores FY11 FY12 FY13 FY14 FY15 CAGR GROSS TURNOVER 1952 2790 3724 4319 4049 27% EBIDTA 502 641 771 803 828 16% PAT 260 306 354 360 438 15% 1 15
Slide 16: Book Value & EPS
Book Value & EPS 200 180 149.87 160 125.94 140 106.64 120 87.78 100 71.70 80 58.96 60 40 25.73 31.27 21.89 25.29 15.39 18.55 20 0 FY10 FY11 FY12 FY13 FY14 FY15 EPS Book Value 1 16
Slide 17: Cumulative Capex
Cumulative Capex (Rs. in crores) 4000 3430 3500 3236 3010 3000 2642 2500 2058 2000 1500 1287 1000 500 0 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 1 17
Slide 18: Dividend
Dividend Dividend Policy provides liberal payout Track record of last five years Year % of equity FY11 50 FY12 50 FY 13 55 FY 14 55 FY 15 (Proposed)* 60 * subject to approval by shareholders 1 18
Slide 19: Growth-Strategy
Growth-Strategy • IGL has acquired 50% equity share capital of Central UP Gas Limited (CUGL) for Rs. 69 crores. CUGL is engaged in the CGD in the cities of Kanpur and Bareilly, Unnao & Jhansi in Uttar Pradesh. • IGL has acquired 50% equity share capital of Maharashtra Natural Gas Limited (MNGL) at a
Slide 20: Growth-Strategy
Growth-Strategy Improve/Augment CNG infrastructure/Stations in Delhi & NCR to meet the additional demand in view of conversion of private cars and improvement in public transport system Improve penetration of PNG business : Penetration of network in all charge areas Target Industrial/Commercial
Slide 21: Credit Strength
Credit Strength • Healthy profitability with strong cash generations from operations. • Maintaining low debt at present with debt equity ratio of 0.07. • Comfortable working capital position. • ICRA Limited (An associate of Moody’s Investors Service) has reaffirmed highest credit ratings of AAA (Sta
Slide 22: Risks & Mitigations
Risks & Mitigations Gas price CNG & PNG-Residential prices still remains competitive vis-à-vis petrol and subsidised LPG in view of allocation of domestic gas Spot/short term gas is purchased to reduce the weighted average cost of gas for I/C segment. Sourcing of gas Firm allocation from G
Slide 23: Safe Harbor Statement
Safe Harbor Statement This presentation has been prepared by Indraprastha Gas Limited solely for providing information about the company. The information contained in this presentation is for general information purposes only, without regard to specific objectives, financial situations and needs
Slide 24: Thank You
THANK YOU 1 24