Adani Power Limited · NSE:ADANIPOWER
Adani Power — Q3 FY2025 Earnings Presentation
28 slides from Adani Power's earnings presentation, Jan 29, 2025
Slide 1: Exchange filing cover letter
January 29, 2025 To, BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Bandra (E) Mumbai – 400 001. Mumbai – 400 051. Scrip Code: 533096 Scrip Code: ADANIPOWER Dear Sir(s), Sub.: Results Presentation for Post Results Conference Call
Slide 2: Adani Power Limited Earnings Presentation – Q3 FY 2024-25
Adani Power Limited Earnings Presentation – Q3 FY 2024-25 29th January 2025
Slide 3: Consolidated operating highlights for Q3 and 9M FY 2024-25
APL: Consolidated operating highlights for Q3 and 9M FY 2024-25 O&M Availability (%) Generation Performance Despatch Performance Sales Volume Mix (%) (PLF %) (BU) Contracted (PPA) Merchant / Short Term 93% 92% +22% 91% 88% 69% 69% 69.5 17% 20% 17% 64% 22% 62% 57.1 +8% 83% 80% 83% 78% 21.5 23.3 Q3 FY
Slide 4: Consolidated financial highlights for Q3 and 9M FY 2024-25
APL: Consolidated financial highlights for Q3 and 9M FY 2024-25 INR Crores Continuing Revenue Continuing EBITDA Continuing PBT 13,434 5,059 3,261 13,405 4,786 2,659 Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25 Q3 FY24 Q3 FY25 41,951 16,478 10,679 8,006 37,173 13,516 9M FY24 9M FY25 9M FY24 9M FY25 9M FY24 9M FY2
Slide 5: Disclaimer
Disclaimer Certain statements made in this presentation may not be based on historical information or facts and may be “forward-looking statements,” including those relating to general business plans and strategy of Adani Power Limited (“APL”) and its subsidiaries , associates, and joint ventures (c
Slide 6: Table of Contents
Table of Contents 1 About Adani Portfolio 2 About Adani Power Limited 3 Power Sector Growth Outlook 4 APL Quarterly Performance Highlights 5 Debt Profile 6 ESG Practice at APL 7 APL: Investment Case 5
Slide 7: About Adani Portfolio
01 About Adani Portfolio STRICTLY CONFIDENTIAL
Slide 8: Adani Portfolio: A World class Infrastructure & Utility portfolio
Adani Portfolio: A World class Infrastructure & Utility portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C Materials, Metal Direct to Incubator Energy & Utility Transport & Logistics & Mining consumer (100%) (100%) (73.97%) (100%) (50.00%) (100%) (100%) ANIL Ada
Slide 9: Adani Portfolio: Decades long track record of industry best growth with national footprint
Adani Portfolio: Decades long track record of industry best growth with national footprint Secular growth with world leading efficiency National footprint with deep coverage Growth 3x 6 Growth 4x 6 EBITDA 71% 1,2,3 EBITDA 92% 1,3,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL Adani’s Core Infra. Platfor
Slide 10: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: Repeatable, robust & proven transformative model of investment DEVELOPMENT OPERATIONS CONSUMERS 1 New C.E.O. Adani Infra (India) Limited (AIIL) Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Construction Operation Inspired Purpose & Value C
Slide 11: About Adani Power Limited (APL)
02 About Adani Power Limited (APL) STRICTLY CONFIDENTIAL
Slide 12: Sector leader poised to capture thermal power growth potential
APL: Sector leader poised to capture thermal power growth potential Target Capacity 30,670 MW Operating Capacity Locked-in Growth Further Organic/ Inorganic 121,2 17,550 + 3 4,520 + 6 8,600 Assets MW Assets MW Assets MW Asset Type Asset Type Asset Type 62% 38% 100% 93% 7% Organic Inorganic Organic I
Slide 13: 80 GW additional coal-based base load capacity required to meet rising demand
APL: 80 GW additional coal-based base load capacity required to meet rising demand 500 3000 Power Demand Growth Projections 450 2474 2500 400 350 • Coal-based capacity critical for base load power to integrate 2000 300 500+ GW renewable power by 2030 1626 250 1500 • Focus on Ultra-supercritical / Su
Slide 14: APL Quarterly Performance Highlights
03 APL Quarterly Performance Highlights STRICTLY CONFIDENTIAL
Slide 15: Key Highlights for Q3 FY 24-25
APL: Key Highlights for Q3 FY 24-25 ▪ Dahanu, Godda, Mahan and Udupi plants achieved 100% Availability during Oct 2024, while Kawai and Udupi achieved 100% Availability during Dec 2024. ▪ APL scored 67/100 in Corporate Sustainability Assessment (CSA) by S&P Global in Nov 2024, Operational marking a
Slide 16: Growth potential from rising power demand fully realised
APL: Growth potential from rising power demand fully realised O&M Availability PLF Generation (BU) Sales (BU) 93% 92% 91% 74.1 88% 69.5 69% 61.7 69% 57.1 64% 62% 23.1 21.5 24.7 23.3 Q3 FY24 Q3 FY25 9M FY24 9M FY25 Q3 FY24 Q3 FY25 9M FY24 9M FY25 Power Demand in key States (BU)* 153.7 148.5 109.5 114
Slide 17: All-round improvement reflected in sustained strong profitability
APL: All-round improvement reflected in sustained strong profitability Snapshot of Profit & Loss Account INR Crores Summary Income Statement Q3 FY25 Q3 FY24 +/- 9M FY25 9M FY24 +/- Effective Capacity (MW) 17,550 15,250 15.1% 16,216 14,985 8.2% Continuing Operating Revenue 12,692 13,143 -3.4% 40,358
Slide 18: Revenue Bridge
APL: Revenue Bridge INR Crores Growth in Revenues Q3 FY24 to Q3 FY25 28 1,400 14,833 13,434 13,405 Q3 FY24 Continuing Revenue Change in volumes and tariffs Q3 FY25 Continuing Revenue One-time income (Q3 FY25) Q3 FY25 Reported Revenue Growth in Revenues 9M FY24 to 9M FY25 2,420 4,778 44,370 41,951 37
Slide 19: EBITDA Bridge
APL: EBITDA Bridge INR Crores Growth in EBITDA Q3 FY24 to Q3 FY25 28 1,400 84 387 6,185 5,059 4,786 Q3 FY24 Continuing Change in volumes and Change in fuel cost Change in other Q3 FY25 Continuing One-time income (Q3 Q3 FY25 Reported EBITDA tariffs operating expenses EBITDA FY25) EBITDA Growth in EBI
Slide 20: Debt profile
05 Debt profile STRICTLY CONFIDENTIAL
Slide 21: Consolidated Debt Profile
APL: Consolidated Debt Profile INR Crores Particulars As on 31st Dec 2024 As on 31st Mar 2024 As on 31st Mar 2023 Senior Secured Loans Existing entities 28,201 27,875 21,425 Under-construction project 950 - 8,196 Total Senior Secured Loans (after Ind-AS adjustment) 29,151 27,875 29,621 Working Capit
Slide 22: Deleveraging of balance sheet and stronger net worth
APL: Deleveraging of balance sheet and stronger net worth Listed Entities Domestic Rating Agency Ratings Senior Term Debt / Equity Ratio (times) 5.32 APL CARE Ratings AA/Stable APL India Ratings AA/Stable APL CRISIL Ratings AA-/Positive 2.57 MEL India Ratings AA-/Stable 1.86 KPL India Ratings AA-/St
Slide 23: ESG Practice at APL
06 ESG Practice at APL STRICTLY CONFIDENTIAL
Slide 24: ESG Highlights
APL: ESG Highlights Material Topic Targets Key ESG Initiatives/Achievements UN SDGs Climate Change Adaptation and mitigation Climate Change • Average Emission intensity - 0.85 tCO2e/MWh. Adaptation Reduction in GHG emission Water Management and Mitigation • intensity to 0.84 tCO2e/MWh Water Intensit
Slide 25: Board of Directors and Management overview
APL: Board of Directors and Management overview 100% Chaired Chaired IDs By IDs By NID Board of Directors Statutory Committees 40% Independent Directors - Audit 🗹 Comprised of only Independent Directors - Nomination & Remunerations 🗹 100% of - Stakeholder Relationship 🗹 Statutory Committees -…
Slide 26: APL: Investment Case
07 APL: Investment Case STRICTLY CONFIDENTIAL
Slide 27: Unique positioning to catapult on the tail-wind of India's growth story
APL: Unique positioning to catapult on the tail-wind of India’s growth story Secure Business ▪ 87% of capacity contracted under LT / MT PPAs, of which 92% has assured fuel cost recovery Model ▪ 91% of domestic fuel requirements secured under LT / MT contracts ▪ Full resolution of all regulatory matt
Slide 28: Thank You
adar Power Thank You