Orient Green Power Company Ltd · NSE:GREENPOWER

Orient Green Power — Q1 FY2013 Earnings Presentation

26 slides from Orient Green Power's earnings presentation, September 2012

  1. Slide 1: Orient Green Power Investor Presentation Q1 FY13 Results

    ORIENT GREEN POWER Leading Diversified Renewable Energy Generator Investor Presentation Q1 FY13 Results Biomass Wind Small Hydel

  2. 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

  3. Slide 3: Financial Results & Operating Highlights - Q1 FY13

    Financial Results & Operating Highlights- Q1 FY 13 2

  4. Slide 4: Financial Highlights – Q1 FY 2013

    Financial Highlights – Q1 FY 2013 Rs. Million ` Million Q1 FY 2013 Q4 FY 2012 Q1 FY 2012 Biomass Wind Total Biomass Wind Total Biomass Wind Total Sale of Power 495.73 667.07 1162.80 338.94 198.59 537.54 296.89 300.45 597.34 Other Operating Income 118.09 71.44 189.54 166.09 19.48 185.57 21.29 3.64 24

  5. Slide 5: Performance Highlights – Q1 FY 2013: Biomass Business

    Performance Highlights – Q1 FY 2013 Biomass Business • Units exported rose to 85.3 Million (PLF 74.9%) as against 54.3 Million units (61.4%) in Q1 FY12 • Average realisation improved to `5.81 per KwH from `5.46 per KwH in Q1 FY12 on the back of supplies to third parties in Tamil Nadu • Sale of power

  6. Slide 6: Performance Highlights – Q1 FY 2013: Wind Business

    Performance Highlights – Q1 FY 2013 Wind Business  During the quarter, 23.4 MW of new wind assets were commissioned  Units generated increased to 159.88 Million (PLF 23.4%) from a level of 73.6 Million (PLF 18.9%) in Q1 FY12.  Average sales realisation for old wind assets increased from `4.08 per

  7. Slide 7: Performance Highlights – Q1 FY 2013: Consolidated Business

    Performance Highlights – Q1 FY 2013 Consolidated business  Sales revenues jumped to `1,163 Million from a level of `538 Million in Q4 FY12 and `597 Million in Q1 FY12 due to improved PLF, increased capacities and better than expected wind performance  REC revenues contributed to `183 Million in th

  8. Slide 8: Balance sheet as at June 30, 2012

    Balance sheet as at June 30, 2012 Rs. Million ` Million Particulars As at 30 June As at 30 June, As at 31 March, 2012 2011 2012 A EQUITY AND LIABILITIES 1 Shareholders’ funds (a) Share capital 4,681 4,681 4,681 (b) Reserves and surplus 6,041 6,717 5,994 2 Capital Reserve on Consoldation 1,212 1,212

  9. Slide 9: Balance sheet as at June 30, 2012 (contd.)

    Balance sheet as at June 30, 2012 (contd.) Rs. Million ` Million Particulars As at 30 June As at 30 June, As at 31 March, 2012 2011 2012 B ASSETS 1 Non-current assets (a) Goodwill on consolidation 480 484 480 (b) Fixed assets - - - (i) Tangible assets 28,885 16,242 27,684 (ii) Intangible assets 34 3

  10. Slide 10: Renewable Energy Certificate

    Renewable Energy Certificate  REC Mechanism set in place since Feb.’11 has gained momentum over the past few months and reached its peak in Q4 FY12  Company had been able to realise significant benefits of the scheme from its projects registered with NLDC. During the Quarter 55,438 RECs have been

  11. Slide 11: REC Trading and Revenue upto June 2012

    REC Trading and Revenue upto June 2012 REC Trade Results - Consolidated (IEX + PXIL) Market REC Market Clearing REC traded from Average Price Month Share of Revenue Volume - Non Solar OGPL Projects (`/ REC) OGPL (%) (` Lacs) Jan-12 1,71,524 6,768 3.95% 206 3,051 Feb-12 2,06,188 18,694 9.07% 573 3,06

  12. Slide 12: Wind Operations

    VINO Wind Operations

  13. Slide 13: Wind Operations - India

    Wind Operations - India Particulars Unit of Measurement Q1 FY 2013 Q1 FY 2012 Capacity MW 314.86 179.50 Units Generated Mn KwH 159.88 73.56 Annualized PLF % 23.4% 18.9% Net Average Realisation (all `/ KwH 4.37 4.08 assets without REC) REC Realisation on eligible units `/ KwH 2.15 - traded • Old asse

  14. Slide 14: Capacity Expansion Strategy – Wind

    Capacity Expansion Strategy – Wind  Capacity Addition of 23.40 Mw completed in Q1 FY13  24.85 MW will be added in Tamil Nadu, 45.0 MW of Capacity will be added in Andhra Pradesh and 25.20 MW in Gujarat in Q2 / Q3 FY13  Global Capacity as of 30th June 2012 was 325.36 MW and is expected to reach ab

  15. Slide 15: Capacity Expansion – Wind

    Capacity Expansion – Wind Estimated date of States Capacity (MW) Remarks completion 64.85 MW by Q2 FY 12 Tamil Nadu 107.35 18.0 MW by Q3 FY12 24.5 MW by Q4 FY 12 4.0 MW operational in Q3 FY Gujarat / Karnataka / Tamil Nadu 7.98 2012 and 3.98 MW operational IN Q4 FY12 Croatia 10.5 Commissioned in Q2

  16. Slide 16: Biomass Operations

    Biomass Operations

  17. Slide 17: Existing Biomass Operations

    Existing Biomass Operations Unit of Particulars measurement Q1 FY13 Q1 FY12 Capacity MW 60.5 40.5 Units exported Mn KwH 85.3 54.3 PLF % 74.9 61.4 Average realisation `/ KwH 5.81 5.46 REC Realisation on traded units `/ KwH 2.31 - REC Realisation on overall exported units `/ KwH 1.37 - Specific fuel c

  18. Slide 18: Existing Projects – Bio-mass power plants

    Existing Projects – Bio-mass power plants Capacity Customer Name Location Fuel Blended tariff (MW) details Q1FY13 Q4FY12 Q1FY12 Co-generation Kopargaon 2.0 Maharashtra Captive 3.5 3.5 3.5 biogas Plywood wastes, julieflora, corn Dindigul 7.5 Tamil Nadu Merchant 6.43 5.33 6.11 stalks and other agri -

  19. Slide 19: Biomass Performance review

    Biomass Performance review  Significant improvement in PLF across all units and tariffs in Tamil Nadu plants result in improved top line and margins  Exited from Grid PPA in Pollachi in Q1 FY 13 and with this, all four units in Tamil Nadu are now on merchant sales leading to increased tariff reali

  20. Slide 20: Capacity Expansion – Biomass

    Capacity Expansion – Biomass Original Revised Project Capacity (MW) Estimated date Estimated date of completion of completion Maraikal 7.5 Q4 FY11 Q2 FY13 Narsinghpur 10.0 Q4 FY11 Q3 FY13 Kolhapur 20.0 Q1 FY12 Q3 FY13 Kishanganj 8.0 Q2 FY12 Q2 FY13 TOTAL 45.5  Projects have been delayed primarily d

  21. Slide 21: Regulatory Environment

    Regulatory Environment

  22. Slide 22: Regulatory Impact – Opportunities and Concerns

    Regulatory Impact –Opportunities and Concerns Biomass  In Tamil Nadu, cross subsidy for all third party sales has been proposed and implemented effective July 2012 which would have a marginal impact on 3rd party sales realisations Wind  In Gujarat, as per the latest regulations, we could be forced

  23. Slide 23: Wind Business Outlook

    Wind Business Outlook  Added 23.4 MW of Wind capacity in Tamil Nadu in Q1. Further 24.85 MW will get added in Q2 in Tamil Nadu and 70.2 MW by October 2012 in AP and Gujarat  Transmission inadequacy continues to be an issue in Tamil Nadu. It is expected that grid back down will impact to the tune o

  24. Slide 24: Biomass Business Outlook

    Biomass Business Outlook  With all Tamil Nadu based plants on Third Party sale of power (32.5 Mw) and with REC eligibility significant improvement in revenues expected to continue in coming quarters  Biomass plant performance has significantly improved in Q1 to 74.9% PLF compared to 61.4% in Q1 FY

  25. Slide 25: Overall Business Outlook

    Overall Business Outlook  While short term challenges in terms of fuel cost and availability are likely to continue, revenue optimisation measures (moving out of PPA, increase in REC revenues, etc.) would lead to improved margins  New capacities being added consistently would lead to better econom

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