Adani Energy Solutions Ltd · NSE:ADANIENSOL
Adani Energy Solutions — Adani Electricity Mumbai — Investor Presentation (August 2022)
21 slides from Adani Energy Solutions's investor presentation, August 2022
Slide 1: Adani Electricity Mumbai Limited Investor Presentation
Adani Electricity Mumbai Limited Investor Presentation August 2022
Slide 2: Contents
Contents 01 Adani Group Overview 4-7 02 Obligor Group 9-10 03 Business Updates 12-15 04 Appendix 17-20 2
Slide 3: 1. Adani Group Overview
adani 1. Adani Group Overview
Slide 4: Adani Group: A World Class Infrastructure & Utility Portfolio
Adani Group: A World Class Infrastructure & Utility Portfolio ~USD 213 bn1 Combined Market Cap Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C Materials, Metal & Incubator Energy & Utility Transport & Logistics Direct to consumer Mining (72.3%) (60.5%) (73.9%) (66.0%)
Slide 5: Adani Group: Decades long track record of industry best growth rates across sectors
Adani Group: Decades long track record of industry best growth rates across sectors Port Cargo Throughput (MMT) Renewable Capacity (GW) Transmission Network (ckm) CGD7 (GAs8 covered) 132% 12% 36% 18% 3x 5x 3x 25% 1.4x 4% 6% 25% Industry Adani APSEZ Industry AGEL Adani Industry ATL Industry AGL 2014
Slide 6: Adani Group: Repeatable, robust & proven transformative model of investment
Adani Group: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Origination Site Development Construction Operation Capital Mgmt Activity • Analysis & market • Site acquisition • Engineering & design • Life cycle O&M • Redesigning capital stru
Slide 7: AEML: Emulating Group Philosophy
AEML: Emulating Group Philosophy Strategic Presence Large scale Superior Infrastructure Largest Integrated utility Network of 400 sq km 6,943 substations catering to gateway city of Covering 85% of the city Development India – Mumbai 25,277 km1 distribution cables 2,0561 MW peak demand 9,7251 MU’s s
Slide 8: 2. Obligor Group
adani 2. Obligor Group
Slide 9: Structure and asset description
Structure and asset description AEML Obligor Adani Transmission Limited Qatar Investment Authority Group 100% 100% 100% 74.9% 25.1% TBCB SPVs MEGPTCL ATIL AEML PDSL (U/C and Operational) Section 62: ROA Transmission Section 63 - TBCB Section 62: ROA Integrated Utility Services Utility Brief Asset De
Slide 10: Century old utility serving the Gateway city of India through Resilient Business Model
Century old utility serving the “Gateway” city of India through Resilient Business Model B H A Y A N D E R C R E E K Key Highlights THANE RAB (INR Mn) 75,470 MIRA BHAYANDER 69,142 62,495 Regulated Asset base BORIVALI Households ~3.08 mn (RAB) increased by INR 6,328 million MALAD during FY 22 FY20 FY
Slide 11: 3. Business Updates
adani 3. Business Updates
Slide 12: Key Business Update_1/3
Key Business Update_1/3 Details Particulars ▪ AEML earnings are based on Rate of return on Regulated Asset Base (RAB) build up resulting in no throughput risk Unique Business Model ▪ Despite the pandemic restrictions the Company has achieved consistent increase of its RAB through its prudent Capital
Slide 13: Key Business Updates_2/3
Key Business Updates_2/3 Particulars Details Operational and • Sales Volume increased to 7,972 MU’s during FY 22 (11% - YOY) and further increased by 26% during Q1 of 2022-23. Business Updates • Mumbai city and AEML recorded an all-time high demand of 3,851 MW and 2,056 MW respectively in April 2022
Slide 14: Key Business Updates_3/3
Key Business Updates_3/3 Particulars Details Supply & Distribution • Distribution Loss of less than 7% due to focused mitigation activities. Parameters • Bill payment facility available to all consumers within 1 KM area. • E-Payment penetration increased by 1.4x from FY 20 to FY 22. • Above 100% col
Slide 15: Business Updates - ESG
Business Updates - ESG Particulars Details Achieved Committed Targets Sustainability Linked KPI’s YEAR FY 2019 FY 2022 FY 2023 FY 2025 FY 2027 FY 2029 KPI 1 : Increase Renewable power mix. SPT 1 : 60% of renewable power 3% 8% 30% 60% procurement by end of FY27 KPI 2 : Reduction in GHG Emission Inten
Slide 16: Financial Performance
Financial Performance Details Particulars ▪ Business performance is insulated from disruptions due to predictable regulatory returns. Financial Ratios & Covenants ▪ Despite drop in energy consumption (FY21) or increase in energy prices (FY22), all the financial ratios were maintained. ▪ Covenants ma
Slide 17: Appendices
adani Appendices
Slide 18: Financials Summary
Financials Summary Amount in USD mn Profit & Loss Summary FY 2020 FY 2021 FY 2022 Revenue 1,017 798 912 Add : Other Income 22 56 54 Total Income 1,039 854 966 Less : Cost of Power Purchases 355 253 361 Less : Cost of Fuel 134 128 141 Less : Transmission Charges 53 62 63 Less : Employee Benefit Expen
Slide 19: Resilient & Reliability: Case Studies
Resilient & Reliability: Case Studies COVID-19 Grid Failure Lights Out Event Power Tripping Highest Peak Demand Complete Lock-down in Mumbai Unprecedented Mumbai power COVID Solidarity Event - 9 pm Power outage – 10:08 am for Peak Demand of 2056 MW on outage on 12th October, 2020 9 minutes on 5th Ap
Slide 20: Compliance Certificate snapshot
Compliance Certificate snapshot ▪ Published 2 compliance certificates (since the last issuance) well in advance of stipulated timelines ▪ Consistent compliance track record with stipulated covenants across business cycles ▪ Providing Key Industry Developments & Business-related updates ▪ Transparent
Slide 21: Status of Conditions Subsequent since last bond issuance
Status of Conditions Subsequent since last bond issuance Details Status Pledge over 100% shares of issuer Completed Charge over movable assets (except monies in Excluded A/C) Security is created and perfected by the First Security Long stop date. Charge over all project accounts (except Excluded Acc
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