Indigrid Infrastructure Trust · NSE:INDIGRID
Indigrid Infrastructure Trust — Q4 FY25 Earnings Presentation
28 slides from Indigrid Infrastructure Trust's earnings presentation, Jul 1, 2024
Slide 1: Investor Presentation Q4 FY25 Results
I N V E S T OR P R E S E N T A T ION Q 4 FY25 R E S U L T S 1
Slide 2: Safe Harbor
Safe Harbor This presentation is prepared and issued by IndiGrid Investment Managers Limited (the “Investment Manager”) on behalf of and in its capacity as the investment manager of IndiGrid Infrastructure Trust (“IndiGrid” / “IGT”) for general information purposes only without regards to specific o
Slide 3: Vision
Vision Focused Business Value Accretive Predictable Optimal Capital Model Growth Distribution Structure • Long term contracts • DPU accretive • Quarterly distribution • Cap on leverage at • Low operating risks acquisitions Y-o-Y • Minimum 90% of Net 70% • Stable cash flows • Creating growth cash flo
Slide 4: Portfolio Overview
Portfolio Overview ~ ₹ 296 Bn1,2 20 STATES & 2 UT ASSETS UNDER MANAGEMENT 87 REVENUE GENERATING ELEMENTS1,2 ~9,060 ckms1,2 ~22,550 MVA1,2 52 LINES 15 SUBSTATIONS TRANSMISSION - ~26.0 YEARS ~1.1 GWp S OLAR - ~ 19.0 YEARS S OLAR GENERATION AVERAGE RESIDUAL CONTRACT3,4 900 MWh6 ~5,30,000 MT5 BESS PROJE
Slide 5: Q4 FY25 Quarterly Update
Q4 FY25 Q UARTERLY UPDATE 5
Slide 6: Q4 FY25 Highlights
Q4 FY25 Highlights Portfolio Update IndiGrid commissioned Kilokari BESS (KBPL) – India’s First Regulated Utility-Scale Standalone BESS in Delhi. During H2 FY25, IndiGrid also successfully commissioned augmentation projects in PTCL2 and Kallam (1&2) awarded on RTM basis. With these, IndiGrid has
Slide 7: IndiGrid hosted project showcase of KBPL
IndiGrid hosted project showcase of KBPL IndiGrid hosted a showcase event to commemorate the commissioning of Kilokari BESS Private Limited (KBPL) (20 MW / 40 MWh) – India’s first regulated, utility-scale standalone Battery Energy Storage System (BESS) The project was formally commissioned on 31 Mar
Slide 8: Key Management Personnel Changes
Key Management Personnel Changes EnerGrid is an important initiative for IndiGrid’s growth strategy. Senior leaders from IndiGrid are transitioning into new roles at EnerGrid to leverage their expertise to deliver growth for EnerGrid and IndiGrid IndiGrid’s COO and CFO to take on the roles of IndiGr
Slide 9: Q4 FY25 Industry Update
Q4 FY25 Industry Update Power Demand and Capacity Trend 238.0 Peak power demand continued to see an upward movement growing 6.5% YoY in Q4 223.5 212.6 FY25 compared to the same period last year. The overall installed capacity stood at 475 GW at the end of Mar’25 of which 46% was sourced through
Slide 10: High bidding activity in the transmission & BESS sector
High bidding activity in the transmission & BESS sector Transmission Bids Battery Energy Storage Bids Number of Estimated Cost Estimated Bid Stage Region Bid Stage Project Name Cost Active Bids (₹ Crore) (₹ Crore) Eastern 2 1403.00 SJVN (UP) – 375 MW / 1500 MWh ~2,250 Northern 4 7454.15 Project RFP
Slide 11: Q4 FY25 Operational Performance
Q4 FY25 Operational Performance Q4 FY25 Availability(%) • HSE Update 99.61 100.00 99.77 99.83 99.41 100.00 99.89 100.00 99.61 99.81 99.82 99.74 99.76 97.88 95.21 84.15 • Zero Incidents – Medical Treatment, First Aid Cases and Loss Time Incident. • Performance • Power Transmission: Average availabili
Slide 12: Q4 FY25 Financial Performance
Q4 FY25 Financial Performance Earnings Revenue (₹ Mn) EBITDA (₹ Mn) ₹ Mn Q4 FY25 Q4 FY24 % change Reported Revenue 8,743 7,856 11.3% 758* 80* EBITDA 7,290 6,558 11.2% NDCF Generated 4,341 4,500 -3.5% DPU (₹ per unit) 4.10 3.55 15.5% 7,856 7,985 7,210 6,558 *As showcased in the accompanying bar graph
Slide 13: Q4 FY25 Distribution Update
Q4 FY25 Distribution Update Particulars Q4 FY25 Q4 FY24 Annual Distribution Trend Distribution per unit (DPU) (₹) 4.10 3.55 - Interest 2.6287 2.7361 - Dividend 0.1419 0.8139 16.00 15.35 14.10 - Capital Repayment 1.2711 - 12.76 13.35 - Other income 0.0583 - Outstanding Units (Mn) 834.5 783.7 Gross Di
Slide 14: Q4 FY25 Consolidated EBITDA to NDCF Waterfall
Q4 FY25 Consolidated EBITDA to NDCF Waterfall (In ₹ Mn) 643 -211 -72 -50 192 -3,600 ₹ 921 Mn added to the reserves during the quarter; reserve balance at ~ ₹ 6,021 Mn 28 -104 -42 283 7,828 7,275 -3,422 4,343 921 EBITDA at Finance WC Capex Tax at SPV NDCF at Expenses at Finance cost DSRA WC Tax at IG
Slide 15: Robust Balance Sheet
Robust Balance Sheet Gross Borrowing ~ ₹ 199 Bn (54% NCDs, 46% Bank Loans & ECB) AAA Rated ~7.67% ₹ 25.95 Bn 64 All numbers in INR Bn By CRISIL, ICRA & Average Cost of Cash 25 34 India Ratings Debt Balance1 15 ~90% ~59.1% 2.01x 65 Fixed Rate Net Debt/AUM EBITDA/Interest Borrowings 49 Tied up with
Slide 16: Superior Risk-Adjusted Total Returns to Investors
Superior Risk-Adjusted Total Returns to Investors Annualised Return 5% 6% 12% 13% 14% 15% 16% 5%2 2%2 Total Returns1 50% 60% 143% 168% 180% 201% 209% 19% 16% 42% 5% 154% 170% 152% 161% 4% 50% 0% 54% 101% 16% 19% 31% 56% 44% 12% -24% GSEC Bond GSEC Bond IndiGrid NSE 500 NSE INFRA BSE Utilities PGCIL
Slide 17: Business Outlook
Business Outlook Portfolio Strategy Focus on maintaining stable operations for predictable and sustainable distribution while looking for value accretive acquisitions Greenfield Development Execution of augmentation work in existing transmission projects as well as the 4 new transmission proje
Slide 18: DPU Accretive Acquisitions
DPU Accretive Acquisitions 18.0 IPA assets Phase I (MTL +RTCL +PKTCL +PTCL) Phase II (ENICL +OGPTL +NRSS) Phase III (JKTPL +GPTL +PrKTCL +NER +FRV) 17.0 Phase IV (RSTCPL +KhTL +KTL) Phase V (VRET +RSUPL +Greenfield +Augmentation2) 16.0 16.00 15.0 15.35 14.0 14.10 13.35 13.0 12.75 12.0 12.20 12.00 12
Slide 19: Annexures
A NNEXURES 19 19
Slide 20: Diversified Investor Base
Diversified Investor Base As on March 31, 2025 Supported by marquee long term investor base Corporates & Trusts, 22% Retail, 28% ~24% owned by DIIs including insurance companies, mutual ~33% funds, pension fund and corporates Insurance, 11% KKR (Sponsor) , 1% Other FIIs, 17% Retail Holding at ~28% ;
Slide 21: Operational Asset Portfolio – Transmission Assets
Operational Asset Portfolio – Transmission Assets 15 Inter State TBCB 1 Intra State TBCB 1 Project for Captive 5 Regulated Tariff Transmission Projects Transmission Project Consumption Transmission Project5 Availability AUM2 Metal Asset States Elements Contract COD (%)1 (₹ Million) (‘000 Metric Ton)
Slide 22: Operational Asset Portfolio – BESS
Operational Asset Portfolio – BESS AUM1 Asset States Elements Contract (₹ Million) KBPL Delhi 20 MW / 40 MWh Fixed Tariff / State 754 22 (1) As per independent valuation report Mar 31, 2025
Slide 23: Operational Asset Portfolio – Solar Assets
Operational Asset Portfolio – Solar Assets PPA Tenure at CoD AUM1 Asset DC Capacity AC Capacity States COD Offtaker (years) (₹ Million) Solar - I 68 50 Andhra Pradesh Jul-18 SECI 25 3,246 Solar - II 70 50 Andhra Pradesh Jan-19 SECI 25 3,460 SolarEdge 169 130 Maharashtra Apr-18 SECI 25 9,199 TL Patla
Slide 24: Under Construction Asset Portfolio
Under Construction Asset Portfolio AUM1 Asset States Elements Contract (₹ Million) 1 Line – 18 ckms IPTL Maharashtra Fixed Tariff/ Centre 880 1 Substation – 3000 MVA 1 Line – 70 ckms DPTL Madhya Pradesh Fixed Tariff/ Centre 659 1 Substation – 2000 MVA KTCO Maharashtra 1 Line – 60 ckms Fixed Tariff/
Slide 25: Corporate Structure
Corporate Structure Other Unitholders Initial Portfolio Asset Transmission Assets Sponsor Solar Assets ~1% ~17% ~82% BESS % Represents Economic Ownership 100% Investment Manager (IIML) Trustee 100% 100% 100% 70% 30% Kallam IGL IGL 1 IGL 2 IPTL 100% 100% 100% 100% 100% 100% 100% DPTL 100% 100% 100% 1
Slide 26: Experienced Board of Directors
Experienced Board of Directors • Over 30 years of rich experience, currently independent non-executive director of Mapletree Logistics Trust Ltd. He is an independent director of • Member of the Asia-Pacific Infrastructure team of KKR since 2018 Westlife Development Ltd., Jubilant Pharma Ltd. and Gl
Slide 27: Glossary
Glossary AC Alternate Current NAV Net Asset Value per unit AUM Assets Under Management NCD Non-Convertible Debentures Availability Percentage amount of time for which the asset is available for power flow Net cash flow at trust’s disposal for distribution to IndiGrid in a particular year in accordan
Slide 28: Thank You
T H AN K Y O U 28
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