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.