Adani Power Limited · NSE:ADANIPOWER
Adani Power — Investor Presentation (September 2024)
31 slides from Adani Power's investor presentation, Sep 3, 2024
Slide 1: Exchange filing cover letter for investor presentation
Date: September 3, 2024 BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 533096 Scrip Code: ADANIPOWER Dear Sirs, Sub.: Investor presentation for interaction with i
Slide 2: Adani Power Limited Investor Presentation September 2024
Adani Power Limited Investor Presentation September 2024
Slide 3: 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 4: Table of Contents
Table of Contents 1 About Adani Portfolio 2 About Adani Power Limited (APL) 3 APL: Strategic Advantages 4 APL: Performance Highlights 5 APL: ESG Practice 6 APL: Investment Case Appendix 3
Slide 5: About Adani Portfolio
1 About Adani Portfolio STRICTLY CONFIDENTIAL
Slide 6: Adani: A World Class Infrastructure & Utility Portfolio
Adani: 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%) (74.72%) (100%) (50.00%) (100%) (100%) ANIL AdaniConneX3
Slide 7: 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 EBITDA 92% 1,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL Adani’s Core Infra. Platform –
Slide 8: Adani: Repeatable, robust & proven transformative model of investment
Adani: 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 Creation AC
Slide 9: About Adani Power Limited (APL)
2 About Adani Power Limited (APL) STRICTLY CONFIDENTIAL
Slide 10: Sector leader poised to capture thermal power growth potential
APL: Sector leader poised to capture thermal power growth potential Total Capacity 30,670 MW Operating Capacity Locked-in Capacity Further Organic/ Inorganic 101,2 16,450 + 2 3,520 + Multiple 10,700 Assets MW Assets MW Assets MW Asset Type Asset Type Asset Type 66% 34% 83% 17% 90% 10% Organic Inorga
Slide 11: 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 • Coal-based capacity critical for base load power to 450 2474 2500 400 integrate 500+ GW renewable power by 2030 350 2000 1626 300 • Focus on Ultra-supercritical / Supercritic
Slide 12: Assuring key deliverables for growth
APL: Assuring key deliverables for growth ▪ High revenue visibility with strong and stable profitability of existing portfolio Financial Assurance ▪ AA family rating from CRISIL, India Ratings, and CARE Ratings ▪ High liquidity creates ample growth headroom ▪ Domestic fuel requirements of existing p
Slide 13: APL: Strategic Advantages
3 APL: Strategic Advantages STRICTLY CONFIDENTIAL
Slide 14: Project Management & Assurance Group (PMAG) – End to End project integration
APL: Project Management & Assurance Group (PMAG) – End to End project integration Bidding, Site Scouting Project Development & Basic Engineering Execution Operations Concept Integrated Project Management Commissioning Strength: Team of 90 professionals having hands-on experience of 2,000+ man-years
Slide 15: Operational excellence through Energy Network Operation Center (ENOC)
APL: Operational excellence through Energy Network Operation Center (ENOC) ENOC − Remote monitoring, diagnosis, and troubleshooting Centralized Management − Centralized power scheduling for optimum capacity utilisation Real Time Data − Real time data access, enabling smooth and agile Availability de
Slide 16: Fuel management & logistics – Key competitive advantage
APL: Fuel management & logistics – Key competitive advantage Fuel management is key to revenue stability Plant and Mine Locations Only IPP in India with in-house, mine-to-plant 01 logistics capability Handling approx. 60 MMTPA coal, 13 MMTPA Fly 02 Ash Kawai NCL Godda Constant attention to multiple
Slide 17: Excellent revenue visibility, fuel security, and EBITDA stability
APL: Excellent revenue visibility, fuel security, and EBITDA stability Contracted capacity Near-pithead merchant capacity • Domestic coal-based merchant capacity • Substantial capacity tied up in LT / MT located near-pithead providing logistics contracts with financially sound cost advantage counter
Slide 18: APL: Performance Highlights
4 APL: Performance Highlights STRICTLY CONFIDENTIAL
Slide 19: Hallmark of reliable operating performance
APL: Hallmark of reliable operating performance Average Operational Capacity (MW) Plant Availability (%) 15,051 95% 95% 95% 94% 92% 90% 13,650 11,810 12,450 12,450 10,480 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 PLF (%) Sales (BU) 79 64% 67% 65% 64 59% 59 52% 48% 55 52 53 FY19 FY2
Slide 20: Setting profitability benchmarks
APL: Setting profitability benchmarks Reported Total Revenues (Rs. Crore) Credit Profile +21% CAGR Listed Entities Rating Agency INR Ratings 60,281 APL CARE AA/Stable APL CRISIL / India Ratings AA-/Stable 43,041 MEL India Ratings AA-/Stable 31,686 27,842 28,150 APJL India Ratings BBB/Stable Signific
Slide 21: Leverage Profile
APL: Leverage Profile 9 Notches improvement in credit rating since 2018 Senior Term Debt / Equity Ratio (times) 5.32 ▪ Significant reduction in senior debt through prepayment as well as regular repayments despite 2.57 acquisitions and organic 1.86 expansion. 0.99 0.65 0.61 ▪ Improvement in operating
Slide 22: Business Updates: Inorganic capacity growth
APL: Business Updates Inorganic capacity growth • Acquisition completed on 31st August 2024 CEPL (MPGL) • CEPL simultaneously amalgamated with Moxie Power Generation Ltd. (MPGL), a special purpose vehicle of the Consortium in which APL has a 49% stake 1200 MW • Its power plant at Mutiara in Thoothuk
Slide 23: APL: ESG Practice
5 APL: ESG Practice 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
6 APL: Investment Case STRICTLY CONFIDENTIAL
Slide 27: Uniquely positioned to benefit from India's growth
APL: Uniquely positioned to benefit from India’s growth Secure Business ▪ 82% of capacity contracted under LT / MT PPAs, of which 91% has assured fuel cost recovery Model ▪ 85% of domestic fuel requirements secured under LT / MT contracts ▪ Full resolution of all regulatory matters pertaining to dom
Slide 28: Thank You
Thank You
Slide 29: Appendix
Appendix STRICTLY CONFIDENTIAL
Slide 30: Successfully tapping into power demand growth during Q1 FY 2024-25
APL: Successfully tapping into power demand growth during Q1 FY 2024-25 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 92% 93% 26.0 78% 24.1 60% 19.0 17.5 Commercial Availability^ PLF Generation (BU) Sales (BU) Power demand in key States (BU)* 53.5 53.3 42.4 36.5 28.9 Q1 FY24 23.8 23.5 23.7 19.3 15.4 Q1 FY25 Gujar
Slide 31: Robust all-round growth continues in Q1 FY25
APL: Robust all-round growth continues in Q1 FY25 Snapshot of Profit & Loss Account INR Crores Summary Income Statement Q1 FY25 Q1 FY24 +/- Effective Capacity (MW) 15,250 14,468 Continuing Operating Revenue 14,717 11,370 29% Continuing Other Income 335 242 38% Total Continuing Revenue 15,052 11,612