Orient Green Power Company Ltd · NSE:GREENPOWER
Orient Green Power — Q1 FY14 Earnings Presentation
17 slides from Orient Green Power's earnings presentation, August 2013
Slide 1: Orient Green Power Investor Presentation Q1 FY14 Results
ORIENT GREEN POWER Leading Diversified Renewable Energy Generator Investor Presentation Q1 FY14 Results Biomass Wind
Slide 2: Disclaimer
Disclaimer This presentation is strictly confidential and may not be copied, published, distributed or transmitted. The information in this presentation is being provided by the company. This presentation has been prepared for information purpose and is not an offer or invitation to buy or sell any
Slide 3: Performance Highlights – Wind Business
Performance Highlights WIND BUSINESS • 19.0 Mw was added during the quarter and aggregate of 67.0 Mw added upto August 12th 2013 • Even though grid back down issues continue in Tamil Nadu, the generation from assets was better due to better wind availability and refurbishment of certain under perfor
Slide 4: Performance Highlights – Biomass Business
Performance Highlights BIOMASS BUSINESS • One unit in Rajasthan which faced fuel issues has turned around with 81% PLF in Q1 • Plans on to commission balance 45.5 Mw units over the next 3 months • Tariff levels remain firm in Tamil Nadu at `6.50/ `6.75 per kwh • Operations continued to be suspended
Slide 5: Financial Highlights – Q1 FY14
Financial Highlights – Q1 FY14 Rs. Million Q1 FY 14 Q1 FY 13 2012-13 Sale of Power 1,087.82 1,155.97 3,682.93 Other Operating Income 175.398 193.003 671.57 Total Income 1,263.21 1,348.98 4,354.50 Expenditure Cost of biomass fuel 251.84 339.78 1,142.27 O&M and other costs 283.136 345.19 1342.94 Total
Slide 6: Balance sheet as at June 30, 2013
Balance sheet as at June 30, 2013 Rs. Million EQUITY AND LIABILITIES 30.06.2013 30.06.2012 31.03.2013 Shareholders' Funds 5,681 4,681 4,681 Reserves and Surplus 6,645 7,253 6,208 Share Application Money 62 85 1,523 Minority Interest 303 393 295 Non Current Liabilities Long term bank borrowings 15,04
Slide 7: Change in Promoter Holding and Preferential Issue
Change in Promoter Holding and Preferential Issue • Post restructure, Shriram Industrial Holdings Ltd. (SIHL) holds all the investments in Orient Green Power Company Limited (OGPL) • SIHL has further infused `150 crore by way of preferential issue in the Equity Share Capital of OGPL in March / April
Slide 8: Renewable Energy Certificate
Renewable Energy Certificate • Supply of RECs continued to be more than demand in the market due to poor enforcement of RPO by all States leading to RECs being sold at floor price during the quarter • During the second half of the year 2012-13, demand continued to be sluggish (although March 2013 sa
Slide 9: REC Trading Receipts up to July 2013
REC Trading Receipts up to July 2013 REC Trade Results - Consolidated (IEX + PXIL) Market REC Average Market Clearing REC traded from Month Share of Revenue (Rs. Price (Rs./ Volume - Non Solar OGPL Projects OGPL (%) Lacs) REC) Jan – 12 171,524 6,768 3.95% 206 3,051 Feb – 12 206,188 18,694 9.07% 573
Slide 10: Operating Metrics – Q1 FY14
Operating Metrics – Q1 FY14 Unit of Wind units Q1 FY14 Q1 FY13 Measurement Capacity Mw 351.6 314.86 Units Generated Mn KwH 176.00 159.88 PLF % 24.3 23.4 Average Realisation `/Unit 5.19 4.77 Unit of Biomass Units Q1 FY14 Q1 FY13 Measurement Capacity Mw 60.5 60.5 Units Exported Mn KwH 60.57 85.3 PLF *
Slide 11: Key data – Bio-mass power plants
Key data – Bio-mass power plants Capacity Customer Name Location Fuel Blended Tariff (Mw) details Q1 FY14 Q4 FY13 Q3 FY13 Q2 FY13 Kopargaon 2.0 Maharashtra Co-generation biogas Captive 3.50 3.50 3.50 3.50 Plywood wastes, julieflora, corn stalks Dindigul 7.5 Tamil Nadu Merchant 6.75 7.00 6.74 6.76 an
Slide 12: Capacity Addition Plans (in Mw)
CAPACITY ADDITION PLANS (in Mw) 2013-14 2013-14 Planned before 2010-11 2011-12 2012-13 Business (till Aug12, (expected by end Season of 2013) Aug 2013) 2014 179.5 317.1 339.0 WIND 406.0 424.6 494.6 40.5 60.5 60.5 BIOMASS 60.5 76.0 106.0 220.0 377.6 399.5 Total 466.5 500.6 600.6
Slide 13: Geographic Capacity Expansion
Geographic Capacity Expansion Wind Capacity States Remarks (Mw) Tamil Nadu 12.80 Commissioned in July 2013 43.20 Mw commissioned upto 12th August 2013 43.20 Andhra Pradesh and balance 50.40 Mw planned before the 50.40 season of 2014 12.60 Mw has been commissioned in May 2013 12.60 12.60 Mw to be com
Slide 14: Regulatory Impact and other challenges
Regulatory Impact and other challenges • Grid congestion and infrastructure related issues continuing in Tamil Nadu in larger measure in 2013-14 leading to back down in wind generation in almost all locations leading to loss of revenue and margins • Biomass Tariff revisions unduly delayed in Rajasth
Slide 15: Key mitigants and initiatives – Wind Business
Key mitigants and initiatives that would positively impact performance in coming quarters / years Wind Business • Grid infrastructure is expected to improve significantly in Tamil Nadu only after the next 2 years which would lead to improved PLFs from 2015-16 onwards • Appellate Tribunal for Electri
Slide 16: Key mitigants and initiatives – Biomass Business
Key mitigants and initiatives that would positively impact performance in coming quarters / years Biomass Business • Close to finalising option of outsourcing operations of one biomass plant in Rajasthan which is now shut – expected to generate positive cash flows once implemented • Actively pursuin
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