Tata Power Company Limited · NSE:TATAPOWER
Tata Power — The Tata Power Company — Q1 FY23 Earnings Presentation
36 slides from Tata Power's earnings presentation, Jul 26, 2022
Slide 1: Presentation to Analysts - exchange cover letter
G TATA 26th July 2022 BJ/SH-L2/ BSE Limited National Stock Exchange of India Limited Corporate Relationship Department Exchange Plaza, 5th Floor, 1st Floor, New Trading Ring, Plot No. C/1, G Block, Rotunda Bldg., P. J. Towers, Bandra-Kurla Complex, Dalal Street, Fort, Bandra (East), Mumbai 400 001.
Slide 2: Financial Results – Q1 FY23
The Tata Power Company Limited Financial Results – Q1 FY23 26th July 2022 1
Slide 3: Disclaimer
Disclaimer This document does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any
Slide 4: Q1 FY23 Business Highlights
Q1 FY23 Business Highlights
Slide 5: Q1 FY23 Highlights
Q1 FY23 Highlights ➢ TPSSL commissions India’s largest floating solar power project of 101.6 MWp in Kerala. ➢ TPREL adds 234 MW solar projects to its operational portfolio. ➢ Tata Power wins 600 MW Hybrid Project from SECI in Karnataka. ➢ Signed MoU with the Tamil Nadu Government to invest approx. ₹
Slide 6: Another marquee project successfully delivered
Another marquee project successfully delivered India’s largest floating solar power project of 101.6MWp in Kerala backwaters
Slide 7: Solar Utility Scale EPC – 1.7 GW of new orders
Solar Utility Scale EPC – 1.7 GW of new orders DIVERSIFIED UTILITY SCALE ORDER BOOK AC Capacity Customer (MW) Tata Power Group 1,350 NTPC 770 SJVN 1,000 SECI 140 NHPC 340 Total Capacity as on 30th June 22 3,601 Order Book as on 30th June 22 (₹ Cr) 14,626 ➢ Total of 600 MW worth project commissioned.
Slide 8: Mega Solar Manufacturing Plant
Mega Solar Manufacturing Plant Signed MoU with the Tamil Nadu Government to invest approx. ₹ 3,000 crores for setting up a greenfield 4 GW Solar Cell and 4 GW Solar Module manufacturing plant in Tirunelveli District of Tamil Nadu.
Slide 9: Solar Businesses - Quarter Highlights
Solar Businesses - Quarter Highlights Achieved ~300% revenue growth over Q1 FY22 Achieved ~70% revenue growth over Q1 FY22 Rooftop Solar Solar Pump Revenue (in ₹ Crore) Revenue (in ₹ crore) 241 243 687 561 140 147 Q1 FY22 Q1 FY23 Q4 FY22 Q1 FY22 Q1 FY23 Q4 FY22 ➢ Orders of 230 MW in Q1; 85% orders f
Slide 10: Tata Power EZ Charge
Tata Power EZ Charge Business Highlights Achieving milestones towards green mobility Cumulative installation of E-bus charging points till June 22 - 242. 5,406 home chargers installed in Q1. Cumulative installation – 18,513. Tata Power and Hyundai Motors India Ltd. (HMIL) signed an MoU to enter into
Slide 11: Odisha Discoms- Quarter highlights
Odisha Discoms- Quarter highlights 107.54 MW HT/theft load 15.19 lac meter replaced till ₹ 63 crore past arrear collected added in Q1 across all 4 date across all 4 discoms in Q1 discoms 41% 36% 49% 40% GROWTH RELIABILITY COLLECTION 40% 36% Category TPCODL TPSODL TPWODL TPNODL New & theft load – MW
Slide 12: Q1 FY23 Financial Highlights
Q1 FY23 Financial Highlights
Slide 13: Q1 FY23 Financial Highlights
Q1 FY23 Financial Highlights Strong all round operational performance across the businesses and higher coal profits, PAT up by 90% YoY Underlying EBITDA (Including Reported EBITDA PAT Share of JVs & Associates) Q4 FY22 Q1 FY23 Q1 FY22 Q4 FY22 Q1 FY23 Q1 FY22 Q4 FY22 Q1 FY23 Q1 FY22 2,253 2,107 2,365
Slide 14: Comfortable debt position for sustainable growth
Comfortable debt position for sustainable growth NET DEBT AT COMFORTABLE LEVELS DEBT INCREASE FROM CAPEX IN RENEWABLES & DISCOMS 38,898 39,708 42,343 Q1 FY22 Q4 FY22 Q1 FY23 SUSTAINABLE DEBT PROFILE 1.55 Net Debt to Equity v 1.57 in Q1 FY22 Net Debt to Underlying 4.11 EBITDA (on rolling 12 month v 4
Slide 15: Installed Generation Capacity as on 30th June
Installed Generation Capacity as on 30th June 22 GENERATION PORTFOLIO ~ 36% CLEAN & GREEN Clean and Green Break-up Clean & Waste Business Model MW Thermal Green Hydro Heat Wind Solar Total Recovery Captive 429 174 255 - 255 - - Merchant 246 - 246 126 120 - - PPA/ Fixed Tariff (Bid/ Others) 4,645 4,3
Slide 16: T&D Portfolio and RE Pipeline as on 30th June
T&D Portfolio and RE Pipeline as on 30th June 22 CURRENT T&D PORTFOLIO LARGE SOLAR PROJECT DEVELOPMENT PIPELINE Business Transmission CKM Customer State Capacity (MW) Model Mumbai Transmission Regulated 1,224 TPC - D (Hybrid) RJ 225 Powerlinks (JV) Regulated 2,328 Total 3,552 KSEB RJ 110 Tata Steel
Slide 17: Q1 Operational Highlights
Q1 Operational Highlights Generation - Availability Transmission - Availability 98 100 97 98 98 98 100 100 100 93 100 87 81 Powerlinks 100 55 100 100 27 20 MO - 100 Transmission 100 Thermal (excl. Mundra MO - Hydro Wind Solar Mundra) Plant Load or Capacity Utilization factor AT&C Losses - Distributi
Slide 18: Financial Results
TATA POWER Financial Results 17
Slide 19: Consolidated Performance – Q1 FY23
Consolidated Performance – Q1 FY23 Op Income EBITDA^^ PAT Particulars Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY22 Consolidated before exceptional items 14,776 9,974 2,107 2,365 884 466 Standalone & Key Subsidiaries Tata Power (Standalone) 5,270 2,761 1,271 1,405 421 354 MPL (Maithon Power)* 755
Slide 20: Share of JVs and Associates
Share of JVs and Associates Op Income EBITDA PAT Particulars % Share Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY22 Q1 FY23 Q1 FY22 Coal & Infra Companies 30% / 26% 4,859 2,599 1,437 747 968 319 (KPC, BSSR, AGM & NTP) Powerlinks Trans Ltd 51% 16 15 15 15 10 10 Industrial Energy Ltd 74% 65 53 46 38 31 24 Resurgent
Slide 21: Underlying Consolidated EBITDA
Underlying Consolidated EBITDA Particulars Q1 FY23 Q1 FY22 Qtr Var Reported EBITDA 2,107 2,365 (258) Add: PAT of JV Companies 803 366 437 KPC & BSSR 995 279 716 Coal Infra (27) 40 (67) Powerlinks 10 10 (0) IEL 31 24 7 Tata Projects (222) (13) (208) Resurgent 14 20 (7) Others 2 6 (3) Underlying EBITD
Slide 22: Tata Power (Consolidated) Financial Performance
Tata Power (Consolidated) Financial Performance Particulars Q1 FY23 Q1 FY22 Qtr Var Quarter Variance Remarks Higher plant availability in Mundra & higher sales across Operating Income 14,776 9,974 4,802 distribution companies Higher generation in Mundra, higher coal prices for thermal Operating Expe
Slide 23: Tata Power (Standalone) Financial Performance
Tata Power (Standalone) Financial Performance Particulars Q1 FY23 Q1 FY22 Qtr Var Quarter Variance Remarks Operating Income 5,270 2,761 2,509 Higher PLF in Mundra and increase in power purchase cost Operating Expenses 4,721 1,849 (2,871) Higher generation in Mundra and increase in fuel cost Operatin
Slide 24: Maithon Power Limited - Highlights
Maithon Power Limited - Highlights Particulars Q1 FY23 Q1 FY22 Qtr Var Quarter Variance Remarks Generation (MUs) 2,000 2,027 (27) Sales (MUs) 1,960 1,839 121 Availability (%) (Plant) 95% 97% -3% PLF % 87% 88% -1% Financials Operating Income 755 704 51 Higher fuel cost Fuel Costs 498 444 (54) Other O
Slide 25: Prayagraj Power Generation Co Ltd. (100%) - Highlights
Prayagraj Power Generation Co Ltd. (100%) - Highlights Particulars Q1 FY23 Q1 FY22 Qtr Var Quarter Variance Remarks Generation (MUs) 3,023 3,013 11 Sales (MU) 2,847 2,840 7 Availability (%) 74.3% 85.3% -11.0% Shutdown of 1 unit PLF % 69.9% 69.7% 0.2% Financials Operating Income 1,000 976 24 Higher m
Slide 26: Tata Power Delhi Distribution Ltd - Highlights
Tata Power Delhi Distribution Ltd - Highlights Particulars Q1 FY23 Q1 FY22 Qtr Var Quarter Variance Remarks Purchase (Mus) 3,188 2,271 (918) Sales (Mus) 2,982 2,115 868 Revenue Per Unit 8.82 9.04 (0.22) PPC Per Unit 6.61 6.23 (0.38) AT&C losses (%) 7.95% 4.70% -3.25% Government dues received in July
Slide 27: Odisha Discoms – Highlights
Odisha Discoms – Highlights Q1 FY 23 Highlights TPCODL TPSODL TPWODL TPNODL Purchase (Mus) 2,893 1,169 2,941 1,666 Sales (Mus) 2,201 891 2,280 1,346 Revenue per unit 5.69 5.84 5.76 5.56 Power Cost per unit 3.25 2.52 3.89 3.46 Actual Technical losses YTD (%) 23.9% 23.7% 22.5% 19.2% Actual AT&C losses
Slide 28: Tata Power Renewable Energy Ltd (Conso. excluding WREL) – Highlights
Tata Power Renewable Energy Ltd (Conso. excluding WREL) – Highlights Particulars Q1 FY23 Q1 FY22 Qtr Var Quarter Variance Remarks Capacity - Total (MW) 2,415 1,498 917 Capacity - Wind (MW) 655 655 - Capacity - Solar (MW) 1,760 844 917 Generation (MUs) 1,313 818 494 Sales (MUs) 1,291 803 488 Avg PLF
Slide 29: Walwhan Renewable Energy Ltd - Highlights
Walwhan Renewable Energy Ltd - Highlights Particulars Q1 FY23 Q1 FY22 Qtr Var Quarter Variance Remarks Capacity - Total (MW) 1,010 1,010 - Capacity - Wind (MW) 146 146 - Capacity - Solar (MW) 864 864 - Generation (MUs) 491 466 24 Higher generation from wind sites Sales (MUs) 486 463 23 Avg PLF (%) -
Slide 30: Tata Power Solar Systems Limited – Highlights
Tata Power Solar Systems Limited – Highlights Particulars Q1 FY23 Q1 FY22 Qtr Var Quarter Variance Remarks Lower execution of large projects due to Operating Income 1,353 1,949 (596) change in timelines Lower execution offset by higher commodity Operating expenses 1,340 1,891 551 prices Operating pr
Slide 31: Green Company – Consolidated View
Green Company – Consolidated View Key Parameters - GreenCo Q1 FY23 Q1 FY22 Revenue 2,090 1,586 EBITDA 778 643 PAT 181 157 Gross Debt 17,184 13,698 Net Debt 16,882 13,180 Networth 8,222 6,853 Note: EBITDA includes other income 30
Slide 32: Regulated - Equity and Assets
Regulated - Equity and Assets Particulars Q1 FY 23 Q4 FY 22 Q3 FY 22 Q2 FY 22 Q1 FY 22 Regulated Equity Mumbai Operation 4,370 4,377 4,243 4,212 4,212 Jojobera 522 522 522 522 522 Tata Power Delhi Distribution (100%) 1,839 1,831 1,769 1,764 1,748 TP Central Odisha Dist Ltd (100%) 504 504 300 300 300
Slide 33: Leverage Management - Debt Profile
Leverage Management - Debt Profile CONSOLIDATED PARTICULARS Q1 FY23 Q4 FY22 Q1 FY22 Rupee Forex Total Total Total Long term 29,227 787 30,014 32,730 29,226 Short term 9,644 1,363 11,007 6,975 13,433 Current Maturity of LT 6,146 2,526 8,672 7,885 5,842 Total Debt 45,017 4,676 49,693 47,590 48,502 Les
Slide 34: Debt Profile
Debt Profile Total Gross Debt (LT + ST) Company 30th June 31st March Dec / (Inc) - 30th June Mar / (Inc) - Quarterly movement Remarks 2022 2022 3 months 2021 12 months Coal SPVs + TPIPL 4,676 4,008 (668) 3,708 (968) Additional loan in lieu of dividend TPDDL 2,831 2,883 52 3,599 768 WREL 3,971 4,000
Slide 35: Latest Tata Power resources uploaded on website
Latest Tata Power resources uploaded on website Sr. No. Resources Link 1. Tata Power ESG Profile https://esg.churchgatepartners.com/login/CompanyProfile?id =310038003100240024004100530048004F004B0041004E00 41004E00590041004100560041004E00490041005300480057 0049004E00490024002400 2. Tata Power Integr
Slide 36: Thank You!
Thank You! Website: www.tatapower.com Investor Relations Team: Mr. Soundararajan Kasturi Mr. Rahul Shah Chief – Treasury & Investor Relations Head – Strategic Finance Email: kasturis@tatapower.com Email: rahuls@tatapower.com M: +91 82912 04022 M: +91 91370 34304 35
The Tata Power Company — Q1 FY23 Earnings Presentation on 6ix