Sterling And Wilson Renewable Energy Limited · NSE:SWSOLAR
Sterling And Wilson Renewable Energy — Sterling and Wilson Solar — H1 FY22 Earnings Presentation
21 slides from Sterling And Wilson Renewable Energy's earnings presentation, Nov 14, 2021
Slide 1: Exchange filing cover letter for investor presentation
November 13, 2021 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Bandra Kurla Complex Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip Code: 542760 Symbol: SWSOLAR Sub.: Investor presentation on the Unaudited Consolidated and Standalo
Slide 2: Analyst and Investor Presentation Q2 and H1 FY22
STERLING STERLING AND AND WILSON WILSON SOLAR SOLAR LIMITED LIMITED Analyst Presentation Q2 and Investor H1 FY22 Presentation Noor Abu Dhabi - World’s Largest Single Location Solar Project 14 November November 2021 2019
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sterling and Wilson Solar Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for
Slide 4: Reliance New Energy Solar Limited to acquire 40% stake in SWSL
Reliance New Energy Solar Limited to acquire 40% stake in SWSL ✓ Reliance New Energy Solar Limited (RNESL), a wholly-owned subsidiary of Reliance Industries Ltd (Reliance) executed definitive agreements on 10th Oct 2021 to acquire 40% stake post-money in SWSL via combination of Primary Investment, S
Slide 5: Status of key approvals for transaction
Status of key approvals for transaction Approvals Received Approvals Pending In principal approval from exchanges for CCI approval preferential allotment Shareholders approval for preferential SEBI observation on the draft open offer allotment NOC from 8 lenders NOC from remaining lenders 3
Slide 6: Our Global presence (11.6 GW EPC Portfolio)
Our Global presence (11.6 GW EPC Portfolio) 4 Maps not to scale. All data, information, and maps are provided "as is" without warranty or any representation of accuracy, timeliness or completeness
Slide 7: Key Highlights
Key Highlights ✓ Signed first order of ~ Rs 1500 crore in Waste to Energy business ✓ Revenue for H1FY22 stood at Rs 2,633 crore as compared to Rs 2,405 crore in H1FY21 ✓ Gross margins impacted significantly on account of increase in execution costs and increase in modules, commodities and freight ✓
Slide 8: Snapshot of first WTE order of ~Rs 1500 crore
Snapshot of first WTE order of ~Rs 1500 crore ✓ Client is a leading developer of energy assets in UK and Europe 19.6 MW in UK ✓ SWSL is a lead consortium member with other associate companies i.e., STC Power Srl (technical expertise and PQs) and Shapoorji Pallonji & Co Pvt. Ltd ✓ Scope of work inclu
Slide 9: Orders finalisation expected in H2FY22 now pushed to FY23 due to rise in costs
Orders finalisation expected in H2FY22 now pushed to FY23 due to rise in costs Module price trends (price Freight rates Ex China (per in USD per Wp) 40 feet container) 0.278 18,400 LATAM Australia Key Highlights 0.248 13,500 0.221 9,300 Due to an unprecedented increase in costs of 11,500 modules,
Slide 10: Unexecuted Order Value (UOV) Movement
Unexecuted Order Value (UOV) Movement INR Crore Gross UOV as on 30th Sep 2021 [EPC Revenue] India # Europe 6.2% Africa 22.3% -2,030 +1,969 -9 -2,510 0.4% 9,127 +183 MENA 14.0% INR 6,730 7,097 6,730 Australia crore 35.8% Americas 21.3% UOV as on 31 Adjustments Restated UOV Price variations Orders in
Slide 11: Consolidated Profit & Loss – H1FY22
Consolidated Profit & Loss – H1FY22 INR Crore Q2FY22 Q2FY21 H1FY22 H1FY21 FY2021 Key Highlights Revenue from Operations 1,438 1,337 2,633 2,405 5,081 Revenue increased by 9% in H1FY22 to Rs 2,633 crore Gross Margin (post project MTM) (177) 117 (149) 231 63 O&M constitutes 4.3% of revenue in H1FY
Slide 12: Consolidated Balance Sheet
Consolidated Balance Sheet INR Crore Sep-21 Mar-21 Key Highlights Sources of Funds Borrowings from Banks as at Sept 21 increased on the account of the loan taken Shareholders Funds 438 658 against the repayment of Bank guarantee encashed by customer Borrowings from Banks 674 468 Total 1,112 1,126
Slide 13: Analysis of receivables > 1 year as at Sep 2021
Analysis of receivables > 1 year as at Sep 2021 Mix of receivables > 1 year as at Sep 2021 – Rs 412 crore Comments Others Key receivables outstanding for more than 1 year of Rs 412 16% crore as at Sep 2021 comprise Argentina 29% - Matter under NCLT - Net Receivables is Rs 60 crore (after Rs 66 cr
Slide 14: IL&FS Receivables assured by Embassy Energy
IL&FS Receivables assured by Embassy Energy Facts Claims Status Management assessment The Company had entered into a contract for a 100 During the year ended 31 March 2020, the The Company has sought legal opinion regarding MW AC Photovoltaic plant in the state of Karnataka with Company has in
Slide 15: Consolidated Cashflow
Consolidated Cashflow INR Crore H1FY22 H1FY21 FY21 Key Highlights Profit before tax (370) 37 (340) Cash flow from Operations Adjustments for noncash / other items 167 14 96 Increase in working capital on account of BG encashment of Rs 404 crore Operating profit before working capital changes 203 5
Slide 16: Way Forward
Way Forward Industry o Short term outlook continues to be challenging Outlook o Majority of order finalization in H2FY22 pushed to FY23 Target o Significant opportunities in North America and Europe market large EPC o Pursue development activities to secure more EPC business and markets increase mar
Slide 17: Target large Solar EPC markets – US and Europe
Target large Solar EPC markets – US and Europe US PV Installation historical data and forecast, 2010-2026 US market ▪ Most prominent and steady market of ~25 GW in 2022 with 75% in utility scale ▪ 85GW of projects currently under off-take agreements that are in various stages of development ▪ The re
Slide 18: Grow O&M portfolio in large International markets
Grow O&M portfolio in large International markets O&M market in 2020 (ex China and Japan) ▪ Global O&M market size of 180 GW in 2020 Australia, 8 Middle East & ▪ O&M market size will grow as more Solar capacity additions are done Africa, 10 ▪ Globally ranked as 4th largest O&M player in 2020 as per
Slide 19: Tap opportunities for pure BESS or Solar + BESS projects
Tap opportunities for pure BESS or Solar + BESS projects ▪ Battery Energy Storage Systems (BESS) and Energy storage systems (ESS) to grow 2x in Annual installations of battery energy storage next 4 years to $12 Billion annually GW hrs 82 78 ▪ US, China and Australia are the large markets in BESS 63
Slide 20: Establish as strong EPC player in growing Waste to Energy market
Establish as strong EPC player in growing Waste to Energy market ▪ 310 mn tons of waste annually processed through incineration to produce energy Global MSW feedstock capacity by tech type (%) ▪ ~US$ 5.25bn annual market till 2027 ▪ ~70 new plants estimated per year until 2027 12% 8% ▪ UK and Europe
Slide 21: Thank You
THANK YOU For further information, please contact: Company : Investor Relations Advisors : Sterling and Wilson Solar Limited Strategic Growth Advisors Private Limited CIN: U74999MH2017PLC292281 CIN: U74140MH2010PTC204285 Mr Vishal Jain Mr Jigar Kavaiya / Mr. Parin Narichania Head – Investor Relation
Sterling and Wilson Solar — H1 FY22 Earnings Presentation on 6ix