Orient Green Power Company Ltd · NSE:GREENPOWER
Orient Green Power — FY2019 Earnings Presentation
24 slides from Orient Green Power's earnings presentation
Slide 1: Leading Renewable Energy Generation Company
Leading Renewable Energy Generation Company
Slide 2: Disclaimer
Disclaimer Certain statements in this presentation concerning our future growth prospects are forward looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties
Slide 3: Index
Index Transformation Strategy & Operational Progress Key Developments: FY19 Financial Highlights Operational 4 Outlook & Highlights Regulatory Appendix: ` Overview Financial 11 Statements 13 16 18 22 3
Slide 4: Transformation Strategy & Operational Progress
Transformation Strategy & Operational Progress
Slide 5: OGPL Transformation
OGPL Transformation Phase IV • Focus on optimising performance of Wind business Accelerated Growth and aiming for leadership in renewable • Sale of Biomass business – removal of drag on business performance (FY18 onward) • Transfer of Biomass Debt – reduction in Interest costs energy sector in India
Slide 6: High Potential disrupted by external factors
High Potential disrupted by external factors In Rs. cr EBITDA Revenues 461 433 402 385 384 305 338 309 293 307 302 230 213 246 FY16 FY17 FY18 FY19 FY16 FY17 FY18 FY19 Finance Cost Depreciation 277 267 235 207 166 136 136 169 124 136 114 205 199 178 FY16 FY17 FY18 FY19 FY16 FY17 FY18 FY19 Cash Profit
Slide 7: What has changed in recent times
What has changed in recent times Improvement in grid evacuation level 97.4 94.8 95.3 96.3 96.8 Increased frequency bandwidth for 93.1 77.2 renewables Phase-wise shutting down of thermal power plants during the wind season Request for expedition of 1,000 MW green energy corridor to help 100% ev
Slide 8: Supported by Improvement in REC Mechanism
Supported by Improvement in REC Mechanism REC’s Outstanding in thousands • Sharp increase in RECs traded in FY18 & FY19 on stricter 494 516 implementation 420 • REC Trading volumes on energy exchanges set new records in FY18 • 100% realization of REC stocks 0 0 0 0 0 FY15 FY16 FY17 FY18 Q1 FY19 H1 F
Slide 9: Focus on Debt Reduction
Focus on Debt Reduction Debt (Rs. Cr) Interest Expense (Rs. Cr) 2,159 2,104 1,978 1,887 286 278 265 267 1,574 1,513 211 165 FY14 FY15 FY16 FY17 FY18 FY19 FY14 FY15 FY16 FY17 FY18 FY19 Interest / Revenue (%) EBITDA / Interest (x) 70% 64% 60% 58% 59% 49% 1.41 1.48 1.10 0.81 0.84 0.77 FY14 FY15 FY16 FY
Slide 10: Resulting in Improved Profitability
Resulting in Improved Profitability EBITDA (Rs. Cr) EBIT (Rs. Cr) 179 176 293 300 243 246 124 133 215 232 72 8 FY14 FY15 FY16 FY17 FY18 FY19 FY14 FY15 FY16 FY17 FY18 FY19 PAT (Rs. Cr) Cash Profit (Rs. Cr) (33) (96) (71) (188) 86 81 (233) 25 (340) FY14 FY15 FY16 FY17 FY18 FY19 (50) (47) (63) FY14 FY1
Slide 11: Key Developments: FY19
GS Key Developments: FY19
Slide 12: Key Developments – FY19
Key Developments – FY19 Wind Business – Maintained momentum despite challenges Wind business performance has been elevated in recent years on the back of improving macros coupled with efforts towards sharpening operational efficiencies. Marked improvement of Grid Availability (95%) in TN – sharp
Slide 13: Financial Highlights
Financial Highlights
Slide 14: FY19 Consolidated Financial Performance
FY19 Consolidated Financial Performance In Rs. Mn 2018-19 2017-18 Continued Operations: Revenue 3,389.2 3,986.4 EBITDA 2,464.8 2,997.6 Margins % 72.7% 75.2% EBIT 1,327.4 1,761.7 EBIT % 39.2% 44.2% PBT (330.4) (351.8) Loss from Discontinued Operations (154.6) (342.8) Consol PBT (485.1) (694.6) Note:
Slide 15: Key Financial Highlights – FY19
Key Financial Highlights – FY19 Wind Business: Overall relatively stable performance, could have been better had it not been for delayed onset of wind season & Cyclone Gaja – loss of over 64 million units compared to last year due to erratic wind pattern Consistent grid availability especially i
Slide 16: Operational Highlights
GS Operational Highlights
Slide 17: Wind Operations
Wind Operations Unit of Particulars FY19 FY18 State Capacity (MW) Measurement Capacity (incl. overseas Tamil Nadu 308.3 Mw 425 425 capacity) Andhra Pradesh 75.40 Units Generated (Gross) Mn 683 738 Gujarat 29.2 Annualized PLF % 18 20 Karnataka 1.25 Average Gross Realisation (before charges and withou
Slide 18: Outlook & Regulatory Overview
Outlook & Regulatory Overview
Slide 19: Outlook
Outlook Supportive macros augurs well for the Wind business – Growth conducive policies by the Government in terms of viable tariffs, steady grid availability, flexible funding models and stricter compliance are enabling a predictable and buoyant business environment – In addition to the favorable
Slide 20: Renewable Energy Certificates
Renewable Energy Certificates The quarter witnessed trading of certificates above its floor price, on the back of favorable demand – supply scenario – Demand continued to outstrip supply, resulting in higher yields Stricter enforcement by regulatory agencies, resulted in sustained buoyancy in th
Slide 21: Regulatory & Market Developments
Regulatory & Market Developments Andhra Pradesh announces new Wind – Solar Hybrid Policy (Source) – The Government of Andhra Pradesh recently announced a new wind-solar hybrid policy as the state targets to achieve 18,000 MW of renewable capacity by the year 2021-2022. – The broad objective of the
Slide 22: Appendix: Financial Statements
Appendix: Financial Statements
Slide 23: Financial Performance – FY19 (Consolidated – IND-AS)
Financial Performance – FY19 (Consolidated – IND-AS) Rs. Million Particulars FY19 FY18 Continued Operations Sale of Power 2,858.33 3,218.54 Other Operating Income 374.46 351.21 Fair value gain on modification of loan 318.85 - Total Income 3,551.64 3,569.75 Total Operating Expenditure 924.34 988.85 O
Slide 24: For further information please contact
For further information please contact Mr. K.V. Kasturi Orient Green Power Company Limited Tel: +91 44 4901 5678 Email: kasturi.kv@orientgreenpower.com Mayank Vaswani / Suraj Digawalekar CDR India Tel: +91 22 6645 1230 / 1219 Email: mayank@cdr-india.com suraj@cdr-india.com
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