Jsw Energy Limited · NSE:JSWENERGY
Jsw Energy — Q3 FY2019 Earnings Presentation
18 slides from Jsw Energy's earnings presentation, Jan 30, 2019
Slide 1: JSW Energy Limited Q3 FY2019 Results Presentation
JSW Energy Limited Q3 FY2019 Results Presentation January 30, 2019
Slide 2: Key Highlights for Q3FY19 (1/2)
Key Highlights for Q3FY19 (1/2) • Healthy power demand growth in Q3FY19 at 6.8%YoY led by a robust October month (+11.5%) • Average IEX merchant prices during the quarter rose ~21% on a YoY basis to ₹4.28/unit with peak spot prices hitting an all-time high of ₹19.99/unit on October 29, 2018 • In Q3F
Slide 3: Key Highlights for Q3FY19 (2/2)
Key Highlights for Q3FY19 (2/2) • For optimal corporate holding structure and better operational control, the Board has approved the transfer of JSW Energy (Kutehr) Ltd, a 100% subsidiary of the Company, to JSW Hydro Energy Ltd subject to necessary approvals • FTSE Russell included JSW Energy in the
Slide 4: Agenda
Agenda Business Environment Operational and Financial Performance 4
Slide 5: Robust Demand Growth in Q3FY19 at 6.8%
Robust Demand Growth in Q3FY19 at 6.8% 9M FY19 Q3 FY19* Q2 FY19 Q1 FY19 Region YoY % YoY % YoY % YoY % Remarks (MUs) (MUs) (MUs) (MUs) Driven by Rajasthan (Q3: 11%, 9M: North 2,99,832 3.8% 88,107 3.1% 1,10,304 2.7% 1,01,421 5.8% 12% YoY growth) West 2,94,895 7.0% 1,02,625 7.2% 92,653 8.9% 99,617 5.1
Slide 6: Generation and PLF trends
Generation and PLF trends Gross 9M FY19 Q3 FY19* Q2 FY19 Q1 FY19 YoY % YoY % YoY % YoY % Remarks Generation (MUs) (MUs) (MUs) (MUs) Thermal 8,05,293 4.9% 2,75,683 6.7% 2,53,047 2.3% 2,76,562 5.7% • Generation growth of 6.8% YoY in Q3FY19 Hydro 1,11,625 4.5% 28,243 11.0% 51,807 14.8% 31,575 -12.9% •
Slide 7: Installed Capacity
Installed Capacity Sector-wise Installed Capacity – 349.3 GW Segment-wise Installed Capacity – 349.3 GW (As on December 31, 2018) (As on December 31, 2018) Total: 74.1 GW # Total: 83.9 GW # Total: 104.4 GW # RES Central State +2,069 MW * -705 MW * +1,448 MW * 21.2% 24.0% 29.9% Hydro Total: 45.4 GW #
Slide 8: Average Merchant Tariff spikes in October'18
Average Merchant Tariff spikes in October’18 Merchant Tariff Trend (`/unit) Particulars Q3 FY19 Q3 FY18 YoY% Q2 FY19 QoQ% 6.50 6.00 5.50 Merchant Volume 12,975 11,029 +17.6% 13,849 -6.3% 5.00 [IEX+PXIL, (MUs)] 4.50 4.00 3.50 3.00 Particular 9M FY19 FY18 FY17 FY16 FY15 2.50 2.00 Average merchant 1.50
Slide 9: Indian Economy and Imported Thermal Coal Prices
Indian Economy and Imported Thermal Coal Prices Industrial production (IIP) growth for Apr-Nov’18 stood at 5.0% on a Imported Thermal coal prices softened; Average value of YoY basis led by manufacturing (5.0%) and electricity sectors (6.6%) rupee appreciated by ~3% QoQ in Q3FY19 Indexed API 4 Coa
Slide 10: Agenda
Agenda Business Environment Operational and Financial Performance 10
Slide 11: Power Generation
Power Generation Q3 Plant-wise Net Generation 9M Plant-wise Net Generation 2% 3% 12% 19% 17,872 17,462 4% 4,945 5,116 5,560 5,471 12% 1% 4,806 4,674 4,640 4,470 9% 12% 1% 2,867 1,002 2,846 1,594 1,757 1,969 697 1,457 896 689 Vijayanagar Ratnagiri Barmer Hydro Total Vijayanagar Ratnagiri Barmer Hydro
Slide 12: Consolidated Financial Results
Consolidated Financial Results ` Crore Q3 FY19 Q3 FY18 Particulars 9M FY19 9M FY18 2,492 2,081 Turnover 7,487 6,635 809 673 EBITDA 2,651 2,702 32% 32% EBITDA Margin(%) 35% 41% 295 341 Interest 916 1,132 293 241 Depreciation 876 728 221 92 Profit Before Tax 858 841 146 47 Profit After Tax 691 561 467
Slide 13: Net Debt reduction of ~₹3,700 Crore over last 7 quarters
Net Debt reduction of ~`3,700 Crore over last 7 quarters in ` Crore ` 14,384 cr 14,250 JPVL related liability 13,500 ` 1,000 cr (Non-funded) Net Debt ` 13,384 cr Reduction of 12,750 ` 3,698 cr 12,000 ` 11,278 cr 11,250 ` 10,686 cr 10,500 9,750 9,000 Mar 31, 2017 Mar 31, 2018 Dec 31, 2018 Proactive d
Slide 14: Amongst the Strongest Balance Sheet in the Power Sector
Amongst the Strongest Balance Sheet in the Power Sector Dec 31, Sept 30, Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Particulars, as at 2018 2018 2018 2018 2017 2017 2017 Net Worth (` Crore) 11,904* 12,231 11,581 11,110 11,469 11,259 10,696 Net Debt (` Crore) 10,686 10,982 11,382 11,278 11,896 12,679 13
Slide 15: Entity-wise Summary Financial Performance
Entity-wise Summary Financial Performance ` Crore Q3 FY19 Q3 FY18 Income from Operations 9M FY19 9M FY18 1,497 1,135 Standalone 4,007 3,196 657 573 JSW Barmer 1,935 1,642 204 224 JSW Hydro 1,113 1,255 21 22 JPTL 60 67 2,422 1,993 Consolidated * 7,213 6,274 * After inter-company adjustments and elimi
Slide 16: Entity-wise Summary Financial Performance
Entity-wise Summary Financial Performance ` Crore Q3 FY19 Q3 FY18 EBITDA 9M FY19 9M FY18 367 280 Standalone 935 935 270 226 JSW Barmer 759 676 166 172 JSW Hydro 1,001 1,173 21 21 JPTL 58 66 809 673 Consolidated * 2,651 2,702 * After inter-company adjustments and eliminations 16
Slide 17: Forward Looking and Cautionary Statement
Forward Looking and Cautionary Statement This presentation has been prepared by JSW Energy Limited (the “Company”) based upon information available in the public domain solely for information purposes without regard to any specific objectives, financial situations or informational needs of any parti
Slide 18: Thank you
Thank you 18