PTC India Financial Services Limited Corporate Presentation
This presentation and the accompanying slides (the “Presentation”), which have been prepared by PTC India Financial Services Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for any securities, and shall not form the basis or be relied on in connection with any contract or binding commitment whatsoever. This Presentation has been prepared by the Company based on information and data which the Company considers reliable, but the Company makes no representation or warranty, express or implied, whatsoever, and no reliance shall be placed on, the truth, accuracy, completeness, fairness and reasonableness of the contents of this Presentation. This Presentation may not be all inclusive and may not contain all of the information that you may consider material. Any liability in respect of the contents of, or any omission from, this Presentation is expressly excluded. Certain matters discussed in this Presentation may contain statements regarding the Company’s market opportunity and business prospects that are individually and collectively forward-looking statements. Such forward-looking statements are not guarantees of future performance and are subject to known and unknown risks, uncertainties and assumptions that are difficult to predict. These risks and uncertainties include, but are not limited to: the performance of the Indian economy and of the economies of various international markets, the performance of the power industry in India and world-wide, competition, the company’s ability to successfully implement its strategy, the Company’s future levels of growth and expansion, technological implementation, changes and advancements, changes in revenue, income or cash flows, the Company’s market preferences and its exposure to market risks, as well as other risks. The Company’s actual results, levels of activity, performance or achievements could differ materially and adversely from results expressed in or implied by this Presentation. The Company assumes no obligation to update any forward-looking information contained in this Presentation. Any forward-looking statements and projections made by third parties included in this Presentation are not adopted by the Company and the Company is not responsible for such third party statements and projections. The distribution of this document in certain jurisdictions may be restricted by law and persons into whose possession this presentation comes should inform themselves about and observe any such restrictions. 2
Background & Business
Goldman Sachs and PFS completes Initial Macquarie acquire Public Offer (IPO), ECBs stake in PFS from DEG and IFC 2006 PFS becomes the first PFS classified as PFS incorporated institution in India, to Infrastructure as a subsidiary of sign IFC’s Master Finance Company PTC India Cooperation by RBI Limited Agreement Lends and invests Robust track record on Offers unique structured Efficient capital primarily in private equity investments & innovative products utilisation to aid power projects scale up 4
To provide Investment and Financing for Power and Related Infrastructure For Greenfield and Brownfield Debt Financing PTC India Financial Projects Services Limited Providing Capital for Equity Financing Expansion activities Investing in projects across energy value chain Structured Products Underwriting, Loan Fee Based Services Syndication, Advisory 5
Board of Directors
Name Brief Profile Mr. Deepak Amitabh – CMD of PTC India Ltd and a former member of Civil Services Chairman Whole-time Director of PFS since 2008. Former Secretary, ICAI and Technical Advisor on Board of Dr. Ashok Haldia - Managing International Federations of Accountants. Has wide experience in power sector, reforms and restructuring, policy and financing of power projects and public sector management and reforms, participative banking, Director & CEO corporate law and governance, formulation of accounting & auditing standards, WTO-GATS Dr. Pawan Singh - Former member of Civil Services. Former Director (Finance) of Delhi Power Company Ltd, Delhi Transco Whole-time Director Ltd etc. Has worked in various infrastructure sector companies like Powergrid, Indian Railways, Tata (Finance) & CFO Steel. Mr. R. Nagarajan Present Director (Finance) of Power Finance Corporation Ltd Mr. Ajit Kumar Director (Commercial & Operations) of PTC India Limited. Former Executive Director of NTPC Limited. Mrs. Tripathi is from IA&AS of 1973 Batch (retired) and has worked at various senior positions in Govt. of Mrs. Pravin Tripathi India. She has served as member - Competition Appellate Tribunal, Member - Airport Economic Regulatory Authority Appellate Tribunal and as Deputy Comptroller & Auditor General of India IAS (Retd), former Secretary to Govt. of India. Experienced in diverse fields which include District Mr. S. K. Tuteja Administration, Education, Industry, Trade, Commerce, Finance and company matters. Currently holds Directorship in various companies. Mr. S. S. Kohli Former CMD IIFCL, PNB, SIDBI and Punjab and Sind Bank , now holds Directorship in various companies A known authority in Direct Taxes, was on Board of Governors of Indian Institute of Corporate Affairs, Mr. Ved Kumar Jain served as the President of The Institute of Chartered Accountants of India. Now holds Directorship in various companies. 7
Financial Highlights Q4 & FY2016
Loan Assets Trend in borrowings 8,634 9,000 100 80 7,500 6,379 percent 60 6,000 Rs. crores 4,974 40 4,500 20 - 2,296 3,000 2011 2012 2013 2014 2015 2016 1,270 1,500 680 Loans - Banks Loans - FIs - ECBs Bonds / Debentures 2011 2012 2013 2014 2015 2016 Commercial Papers Interest Income Trend in Profit 1,000 921 900 600 600 742 800 500 500 700 Rs. crores 400 400 Rs. crores 600 500 300 300 420 400 200 200 251 300 100 100 200 133 74 100 - - - FY FY FY FY FY FY 2011 2012 2013 2014 2015 2016 FY 2011 FY 2012 FY 2013 FY 2014 FY 2015 FY 2016 9
Qtr ended 31 st Qtr ended 31 st Particulars Year ended Year ended Mar 2016 Mar 2015 31 st Mar 2016 31 st Mar 2015 2,131 550 Loan Sanctioned (Rs. Crs) 6,528 4,112 1,450 835 Loan Disbursed (Rs. Crs) 3,555 2,493 8,634 6,379 Loan Assets (Rs. Crs) 8,634 6,379 Yield on Loan Assets (%) 12.82 13.46 13.07 13.71 8.95 9.30 Cost of borrowed funds (%) 9.05 9.38 3.88 4.15 Interest Spread (%) 4.02 4.33 5.76 6.03 Net Interest Margin (%) 5.98 6.30 0.87 0.28 Earnings Per Share (Rs.) 6.96 2.86 7.41 7.27 Cost to Income Ratio (%) 6.71 6.62 21.82 23.71 Capital Adequacy Ratio (%) 21.82 23.71 3.93 3.56 Debt Equity Ratio (%) 3.93 3.56 11.22 4.39 Return on Networth (%) 24.60 11.55 0.56 0.23 Return on Assets (%) 4.43 2.38 10
Qtr Qtr Shift Particulars (Rs. Crores) Year Year Shift ended ended % ended ended % 31 st Mar 31 st Mar 31 st Mar 31 st Mar 2016 2015 2016 2015 256.01 200.81 27 Interest Income 921.41 741.61 24 Profit on sale of equity - - - 206.93 - - investments 13.97 16.44 (15) Other Operating Income 58.58 60.27 (3) 269.98 217.25 24 Total Income 1,186.91 801.89 48 141.20 111.05 27 Interest and financial charges 507.24 400.93 27 Loss on foreign currency 5.57 3.49 59 22.87 16.26 41 translation 43.54 65.20 (33) Provisions 95.19 113.93 (16) 9.13 7.47 22 Other operating expenses 30.19 25.47 19 199.44 187.21 7 Total expenses 655.49 556.59 18 Profit from operation (before 70.54 30.03 135 531.43 245.29 117 other income) 0.00 0.00 (10) Other Income 0.01 0.02 (28) 70.55 30.04 135 Profit before tax 531.44 245.31 117 Tax expense (including deferred 21.51 14.23 51 140.35 84.44 66 tax) 49.03 15.81 210 Profit after tax 391.10 160.88 143 11
Equity and Liabilities As at 31 st As at 31 st Assets As at 31 st As at 31 st (Rs. in Crores) March March (Rs. in Crores) March March 2016 2015 2016 2015 Non-current assets Shareholders’ funds Fixed assets 18.20 22.05 Share capital 562.08 562.08 Non-current investments 234.90 339.90 Reserves and surplus 1,180.45 875.09 Deferred Tax Assets 4.46 Non-current liabilities Long-term loans & Long-term borrowings 4,843.63 3,764.74 7,836.16 5,485.36 advances Deferred tax liab. (net) - 7.96 Other non-current assets 29.54 34.69 Long-term provisions 61.85 68.10 Current assets Current liabilities Trade receivables 1.14 0.94 Short-term borrowings 1,407.62 1,159.86 Cash and cash equivalents 24.76 22.56 Trade payables 3.93 3.21 Short-term loans & 206.84 208.30 Other current liabilities 681.99 241.44 advances Short-term provisions 81.23 67.53 Other current assets 466.78 636.21 Total liabilities 8,822.78 6,750.01 Total assets 8,822.78 6,750.01 12
13
Total 10,908 11,320 12,666 13,492 15,074 14
Total 6,379 6,582 7,225 7,795 8,634 15
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