Tata Power Company Limited · NSE:TATAPOWER
Tata Power — The Tata Power Company — Q1 FY22 Earnings Presentation
36 slides from Tata Power's earnings presentation, Aug 6, 2021
Slide 1: Tata Power analyst presentation cover letter
• TATA 6th August 2021 BJ/SH-L2/ BSE Limited National Sto_ck Exchange of India Limited Corporate Relationship Department Exchange Plaza, 5th Floor, 1st Floor, New Trading Ring, Plot No. C/1, G Block, Rotunda Bldg., P. J. Towers, Bandra-Kurla Complex, Dalal Street; Fort, Bandra (East), Mumbai 400 001
Slide 2: Tata Power Financial Results Q1 FY22
Tata Power Financial Results Q1 FY22 6th August 2021 …Message Box ( Arial, Font size 18 Bold) 1
Slide 3: Disclaimer
Disclaimer This document does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any
Slide 4: Q1 FY22 Business Highlights
Q1 FY22 Business Highlights …Message Box ( Arial, Font size 18 Bold)
Slide 5: Q1 FY22 Highlights
Q1 FY 22 Highlights • Completed acquisition of 51% equity shares of TP Northern Odisha Distribution Ltd increasing overall customer base to 12.1 mln • 205 MW of Utility scale EPC orders worth ₹ 743 Cr won during Q1 • Empaneled for 84MW Rooftop Solar Project for domestic consumers across all district
Slide 6: Cyclone YAAS – restoration against all odds in Odisha
Cyclone YAAS – restoration against all odds in Odisha METICULOUS PLANNING AND RESOURCE MOBILIZATION POWER RESTORED IN RECORD TIME Excellent Material Planning & Fastest Manpower Pooling RESTORATION CARRIED OUT DESPITE COVID-19 …Message Box ( Arial, Font size 18 Bold) 5
Slide 7: All-round performance in Solar Businesses
All-round performance in Solar Businesses WELL DIVERSIFIED UTILITY ORDER BOOK Solar Highest quarterly orders of ₹ 434 Cr Rooftop AC Capacity Order book as on 30th June - ₹ 720 Cr Customer ~4X (MW) growth over Tata Power Group 890 Q1 FY21 ₹ 400 Cr KSEB contract won in July NTPC 1,090 GSECL 130 MSME f
Slide 8: Tata Power EZ Charge
Tata Power EZ Charge Added EV charging stations in 9 new cities to expand presence to 112 Cities ~ 3400 home chargers installed so far Total 640+ chargers points Tata Power joins hands with HPCL to set up EV charging installed including bus chargers stations at its Petrol Pumps across the country 35
Slide 9: Q1 FY22 Financial Highlights
6 MW Carport Installation at Tata Motors, Pune India’s largest grid-synchronised, solar carport Q1 FY22 Financial Highlights …Message Box ( Arial, Font size 18 Bold)
Slide 10: Covid second wave impacted Distribution collections; other businesses largely unaffected
Covid 19 – 2nd wave impacted Distribution collections; other businesses largely unaffected CONVENTIONAL GENERATION (INCLUDING PRAYAGRAJ) RENEWABLES – DEVELOPMENT & EPC BUSINESS ➢ Lower availability in CGPL ➢ Despite lockdowns, EPC execution maintained at healthy pace ➢ Factoring of BEST receivables
Slide 11: Q1 FY22 Financial Highlights
Q1 FY22 Financial Highlights DELEVERAGING & RENEWABLES BUSINESSES DELIVER 74% Y-O-Y PROFIT GROWTH REPORTED EBITDA Underlying EBITDA (Including Share of Reported PAT (before PAT (before Discontinued exceptional items) and Reported EBITDA Associates) JVs & Associated) exceptional items) Q4 FY21 Q1 FY2
Slide 12: Debt mix shifting towards growth capex
Debt mix shifting towards growth capex PERPETUAL DEBT PREPAID & RE CAPEX DESPITE WC PRESSURE, BUS AS USUAL DEBT STAYS AT SIMILAR LEVELS 40,099 35,946 38,898 Q1 FY 21 Q4 FY 21 Q1 FY 22 Net Debt IMPROVING DEBT PROFILE Net Debt to Equity 1.57 v 1.81 in Q1 21 Net Debt to Underlying EBITDA (on 4.15 rolli
Slide 13: Installed Capacity
Installed Capacity GENERATION PORTFOLIO ~ 31% CLEAN & GREEN Clean and Green Break-up Clean & Waste Heat Business Model MW % Thermal Green Hydro Recovery / Wind Solar Total BFG Captive 429 4.0% 174 255 - 255 - - Merchant 246 2.3% - 246 126 120 - - PPA/ Fixed Tariff (Bid/ Others) 4,645 42.9% 4,338 307
Slide 14: T&D Portfolio and RE Pipeline
T&D Portfolio and RE Pipeline CURRENT T&D PORTFOLIO LARGE SOLAR PROJECT DEVELOPMENT PIPELINE Customer State Capacity (MW) Transmission Business Model CKM UPNEDA UP 100 Mumbai Transmission Regulated 1,211 Dholera (GUVNL) Guj 250 Powerlinks (JV) Regulated 2,325 Raghanesda (GUVNL) Guj 100 Total 3,536 D
Slide 15: Operational Highlights
Operational Highlights Availability Transmission - Availability 100.0 98.6 98.0 99.8 99.9 99.9 97.4 96.9 96.5 100.0 83.8 Powerlinks 99.9 79.7 100.0 59.4 99.9 MO - 99.8 Transmission 99.8 Thermal (incl. MO - Hydro Wind Solar Prayagraj) Q1 FY21 Q1 FY22 Q4 FY21 Q1 FY21 Q1 FY22 Q4 FY21 Plant Load or Capa
Slide 16: Financial Results – Q1 FY22
Financial Results – Q1 FY22 …Message Box ( Arial, Font size 18 Bold) 15
Slide 17: Consolidated Performance – Q1 FY22
Consolidated Performance – Q1 FY22 Op Income EBITDA^^ PAT Particulars Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21 Consolidated before exceptional items 9,831 6,671 2,365 2,037 466 268 Standalone & Key Subsidiaries Tata Power (Standalone) 1,788 1,469 937 649 198 68 CGPL (Mundra UMPP) 973 1,742 47
Slide 18: Share of JV and Associates
Share of JV and Associates Op Income EBITDA PAT Particulars % Share Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21 Q1 FY22 Q1 FY21 Coal Companies (KPC, 30% / 2,528 1,781 683 352 279 85 BSSR, AGM) 26% Coal Infrastructure 30% 71 78 64 48 40 53 Companies (NTP) Powerlinks Trans Ltd 51% 15 15 15 14 10 12 Industrial Ene
Slide 19: Underlying Consolidated EBITDA
Underlying Consolidated EBITDA Particulars Q1 FY 22 Q1 FY 21 Qtr Var Reported EBITDA 2,365 2,037 328 Less: PAT of JV Companies 366 177 189 KPC 222 70 152 BSSR 57 15 42 Coal Infra 40 53 (13) Powerlinks 10 12 (2) IEL 24 23 2 Tata Projects (13) (35) 21 Resurgent 20 24 (4) Others 5 15 (9) Adjusted Busin
Slide 20: Tata Power (Consolidated) Financial Performance
Tata Power (Consolidated) Financial Performance Particulars Q1 FY22 Q1 FY21 Variance Quarter Variance Remarks Higher income due to Odisha DISCOMS acquisiton & higher execution of projects Operating Income 9,831 6,671 3,159 in TPSSL partially offset by lower generation in CGPL Operating Expenses 7,64
Slide 21: Tata Power (Standalone) Financial Performance
Tata Power (Standalone) Financial Performance Particulars Q1 FY22 Q1 FY21 Variance Quarter Variance Remarks Higher generation across units and increased sales in distribution Operating Income 1,788 1,469 320 business Operating Expenses 1,278 909 (369) Higher generation and fuel costs Operating Profi
Slide 22: CGPL: Key Highlights
CGPL : Key Highlights Particulars Q1 FY22 Q1 FY21 Variance Quarter Variance Remark Generation (MUs) 1,757 6,350 (4,593) Sales (MU) 1,590 5,857 (4,267) Availability (%) 20% 78% (58%) Only 1 unit operated PLF (%) 19% 70% (51%) HBA Coal Index 92.3 64.8 (27.5) FOB price of coal (USD/T) 63.9 48.1 (15.8)
Slide 23: Coal Business (KPC): Key highlights
Coal Business (KPC): Key highlights Coal Company - KPC Q1 FY22 Q4 FY 21 Q3 FY21 Q2 FY21 Q1 FY21 Coal Mined (MT) 14.9 14.3 15.3 15.0 14.5 Coal Sold (MT) 15.5 14.1 16.0 14.8 14.3 HBA 92.3 82.7 55.5 50.6 58.0 FOB Revenue (USD/T) 65.5 59.4 43.8 43.8 49.1 Royalty (USD/T) 9.0 8.8 6.1 5.9 6.9 Net Revenue a
Slide 24: CGPL and Coal companies – Integrated performance
CGPL and Coal companies – Integrated performance CGPL Q1 FY22 Q1 FY21 Qtr Var Revenue 973 1,742 (769) EBITDA 470 270 200 PAT 154 (155) 309 Coal & Infrastructure Business Q1 FY22 Q1 FY21 Qtr Var Revenue 2,627 1,942 686 EBITDA 799 527 273 PAT 296 139 157 Net PAT 450 (16) 466 Net PAT (w/o one-offs) 148
Slide 25: Maithon Power Limited - Highlights
Maithon Power Limited - Highlights Particulars Q1 FY22 Q1 FY21 Variance Quarter Variance Remarks Generation (MUs) 2,027 1,557 470 Sales (MUs) 1,839 1,412 427 Availability (%) (Plant) 97% 96% 1% PLF % 88% 68% 21% Financials Operating Income 704 638 66 Increase in offtake with reduced variable costs F
Slide 26: Tata Power Delhi Distribution Ltd - Highlights
Tata Power Delhi Distribution Ltd - Highlights Particulars Q1 FY22 Q1 FY21 Variance Quarter Variance Remarks Purchase (Mus) 2,271 2,073 (197) Sales (Mus) 2,115 1,917 198 Revenue Per Unit 9.04 8.73 0.31 PPC Per Unit 6.23 5.69 (0.54) AT&C losses (%) 4.70% 8.68% 3.97% Past collection has improved AT&C
Slide 27: Odisha Discoms – Highlights
Odisha Discoms – Highlights Q1 Highlights TPCODL TPSODL TPWODL TPNODL Purchase (Mus) 2,416 1,006 2,255 1,340 Sales (Mus) 1,755 775 1,775 1,060 Revenue per unit 5.62 4.92 5.14 5.15 Power Cost per unit 3.08 2.32 3.56 3.45 Vesting order Target Technical losses (%) 23.0% 25.0% 20.0% 19.0% Actual Technic
Slide 28: Tata Power Renewable Energy Ltd (Standalone) – Highlights
Tata Power Renewable Energy Ltd (Standalone) – Highlights Particulars Q1 FY22 Q1 FY21 Variance Quarter Variance Remarks Capacity - Total (MW) 1,398 1,143 255 Capacity - Wind (MW) 603 354 249 Transfer of Tata Power Standalone wind assets Capacity - Solar (MW) 795 788 6 Generation (MUs) 774 606 169 Sa
Slide 29: Walwhan Renewable Energy Ltd - Highlights
Walwhan Renewable Energy Ltd - Highlights Particulars Q1 FY22 Q1 FY21 Variance Quarter Variance Remarks Capacity - Total (MW) 1,010 1,010 - Capacity - Wind (MW) 146 146 - Capacity - Solar (MW) 864 864 - Generation (MUs) 466 464 3 Sales (MUs) 462 461 1 Avg PLF (%) - Solar 20% 21% 0% Impacted due to c
Slide 30: Tata Power Solar Limited – Highlights
Tata Power Solar Limited – Highlights Particulars Q1 FY22 Q1 FY21 Variance Quarter Variance Remarks Higher execution across all businesses through Operating Income 1,949 405 1,544 lockdown reduced execution compared to Q4 FY21 Operating expenses 1,891 422 (1,469) Operating profit 58 (17) 75 Other in
Slide 31: Renewables – Consolidated View for Q1 FY22
Renewables – Consolidated View for Q1 FY22 Q1 FY22 RE Conso (with Elimination Generation Elimination EPC) Key indicators TPREL^ WREL Others# TPSSL (Note 1) (Conso w/o (Note 2) After EPC) Elimination Capacity (MW) 1,398 1,010 288 - 2,696 - - 2,696 Revenue 311 334 66 (1) 711 1,949 (1,074) 1,586 EBITDA
Slide 32: Regulated - Equity and Assets
Regulated - Equity and Assets Particulars Q1 FY 22 Q4 FY 21 Q3 FY 21 Q2 FY 21 Q1 FY 21 Regulated Equity Mumbai Operation 4,212 4,204 4,042 4,023 4,018 Jojobera 522 522 522 522 522 Tata Power Delhi Distribution (100%) 1,748 1,679 1,633 1,624 1,617 TP Central Odisha Dist Ltd (100%) 300 300 300 300 300
Slide 33: Leverage Management - Debt Profile
Leverage Management - Debt Profile CONSOLIDATED PARTICULARS Q1 FY 22 Q4 FY 21 Q1 FY 21 Rupee Forex Total Total Total Long term 26,116 3,110 29,226 30,045 32,421 Short term 12,835 598 13,433 8,436 12,217 Current Maturity of LT 5,842 - 5,842 4,690 4,135 Total Debt 44,793 3,708 48,502 43,171 48,773 Les
Slide 34: Debt Profile
Debt Profile Total Gross Debt (LT + ST) 31st Mar / (Inc) Mar / (Inc) Company 30th June 30th June Quarterly movement Remarks March -3 - 12 2021 2020 2021 months months CGPL 4,451 4,055 (397) 8,062 3,610 Working capital borrowings Coal SPVs 3,708 3,670 (38) 4,572 864 TPDDL 3,599 3,326 (272) 3,187 (412
Slide 35: Latest Tata Power resources uploaded on website
Latest Tata Power resources uploaded on website Sr. No. Resources Link 1. Tata Power ESG Profile https://esg.churchgatepartners.com/login/CompanyProfile?id=3 10038003100240024004100530048004F004B0041004E0041004 E00590041004100560041004E004900410053004800570049004 E00490024002400 2. Tata Power Integr
Slide 36: Thank You!
Thank You! Website: www.tatapower.com Investor Relations Team: Mr. Soundararajan Kasturi Mr. Rahul Shah Chief – Treasury & Investor Relations Head – Investor Relations Email: kasturis@tatapower.com Email: rahuls@tatapower.com M: +91 82912 04022 M: +91 91370 34304 …Message Box ( Arial, Font size 18 B
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