Adani Energy Solutions Ltd · NSE:ADANIENSOL
Adani Energy Solutions — Investor Presentation (June 2023)
31 slides from Adani Energy Solutions's investor presentation, June 2023
Slide 1: Adani Transmission Limited Equity Presentation
Adani Transmission Limited Equity Presentation June - 2023
Slide 2: Contents
CONTENTS 04-07 Adani Portfolio Overview 04 09-15 About ATL 09 17-21 ATL Business Philosophy 17 23 ATL Investment Case 23 25-29 Annexure 25
Slide 3: Adani Portfolio Overview
Adani Portfolio Overview
Slide 4: Adani: A World Class Infrastructure & Utility Portfolio
Adani: A World Class Infrastructure & Utility Portfolio Infrastructure and Utility Primary Industry Emerging B2C Flagship Core Portfolio Materials, Metal & Incubator Energy & Utility Transport & Logistics Direct to Consumer Mining (57.3%) (63.2%) (69.2%) (71.6%) (65.1%) (100%) AGEL ATL APSEZ Cement5
Slide 5: Adani Portfolio: Decades long track record of industry best growth
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 Growth 5x Core Portfolio EBITDA 70% 1,2 EBITDA 92% 1,4 Utility 92% Transport 85% Consumers ~400 mn Served AEL Growth
Slide 6: Adani: Repeatable, robust & proven transformative model of investment
Adani: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Origination Site Development Construction Operation Capital Mgmt Analysis & market Site acquisition Engineering & design Life cycle O&M Redesigning the capital intelligence planning str
Slide 7: ATL: A platform well-positioned to leverage growth opportunities in T&D business
ATL: A platform well-positioned to leverage growth opportunities in T&D business Execution Prowess Strategic Presence Balanced pool mix Transmission Network of Transmission - Presence in 14 states Development with 33 transmission projects Transmission(3): 19,779 ckm(1) Distribution - Integrated util
Slide 8: About ATL
About ATL
Slide 9: ATL: Business Snapshot
ATL: Business Snapshot IHC 1.41%(3) Adani Family GQG 2.55%(4) 71.65% Public Shareholding 24.39% Contracted Assets in ROA Assets in Transmission and Distribution Business Transmission Business QIA is a strategic partner 100% in AEML with 25.1% stake 100% 100% 100% 74.9% Smart Transmission HVDC 28 TBC
Slide 10: AEML: Century old utility serving the Gateway city of India
AEML: Century old utility serving the “Gateway” city of India Largest Integrated utility in India’s Commercial Capital - Mumbai AEML – Key Milestones Since Acquisition in 2018 About Mumbai Annual Capex (Rs. Crs.) RAB (Rs. Crs.) ~11.0% Real GDP CAGR (FY12 – 18) ~6.0% of India’s real GDP 4,619 7,972 4
Slide 11: ATL: Transformational Journey with Robust Growth and Credit Discipline
ATL: Transformational Journey with Robust Growth and Credit Discipline ATL has delivered an impressive 17.3% CAGR in EBITDA from FY16-23, while still demonstrating credit discipline and maintaining investment grade rating Operating portfolio of 4 Acquired Mumbai • Induction of QIA as • US$ 2 bn GMTN
Slide 12: ATL: Solid Locked-In Growth in both Transmission and Distribution
ATL: Solid Locked-In Growth in both Transmission and Distribution Transmission Project Pipeline (Rs. Bn) AEML Capex Schedule (Rs. Bn) COD/ Fully operational Project cost No. of projects SCOD(2,3) tariff (Rs. Bn) (Rs. Bn)(1) 18 17 Operating ROA COD: Aug’12- Assets 4 projects 109 19 Mar’15 12 Operatin
Slide 13: ATL: Size of Transmission Opportunity for Private Players
ATL: Size of Transmission Opportunity for Private Players is ~US$ 28 bn worth projects over 10-15 years Renewable penetration to further boost requirement for transmission Attractive Industry Opportunity backed by strong policy support infrastructure strengthening – Mandatory competitive bidding int
Slide 14: ATL: Distribution Privatization and Parallel Distribution Opportunity
ATL: Distribution Privatization and Parallel Distribution Opportunity – Power distribution is one of the largest consumer facing sectors in the country. 96.7% of ~270 mn households in India are connected to the grid. – Discoms in India have been primarily owned and operated by state governments – Ad
Slide 15: Attractive Industry Opportunity supported by Evolved and Stable Regulatory Regime
ATL: Attractive Industry Opportunity supported by an Evolved and Stable Regulatory Regime EA 2003 ROA Distribution TBCB (AEML) Section 62 (ROA) Tariff Method - Multi Year (5 yr) Tariff Section 63 (TBCB) Tariff Method – License Period Basis Services O&M Power Procurement All other Costs Expenses Cost
Slide 16: ATL Business Philosophy
ATL Business Philosophy
Slide 17: Business Philosophy focusing on De-risking at every stage of project lifecycle
ATL: Business Philosophy focusing on De-risking at every stage of project lifecycle DE-RISKING AT EVERY STAGE Route Identification & Survey Project Execution − Complex projects experience: Completed HVDC project − Route alignment on topographic maps to optimize route & (~1000 kms) in a record time o
Slide 18: Execution Excellence, Operational Excellence
ATL: Technology enabled O&M Excellence Design and Technology Excellence Project Excellence O&M Excellence • In-house design team capable of designing • Completed HVDC project (~1,000 kms) • In-house team with vast O&M experience Execution Excellence towers using software tools like PLS Tower and wit
Slide 19: AEML Business philosophy: Sustainability, Reliability and Consumer Focus
AEML Business philosophy: Sustainability, Reliability and Consumer Focus (Affordability & Responsiveness) Reliability Affordability & Responsiveness • Pioneer in adoption of advanced technologies • Consumer-centric service delivery model → Emerging • Only utility with integrated GIS, WMS, OMS, CRM a
Slide 20: Capital Management Philosophy
ATL: Capital Management Philosophy to achieve growth at scale with capital discipline ATL is the only private sector transmission and distribution company in India with International IG Rating – Long life contracted assets with sovereign counterparties in a stable regulatory regime (Transmission: 35
Slide 21: Transformational Capital Management Plan in AEML resulting in value unlocking
ATL: Transformational Capital Management Plan in AEML resulting in value unlocking Capital structure Elongated maturity High quality stable Diversified and deep Fully funded long term consistent with reflecting perpetual nature cashflow profile to ensure investor base, to provide capex program under
Slide 22: Investment Case
Investment Case
Slide 23: ATL: Compelling Investment Case
ATL: Compelling Investment Case − Significant growth opportunities in Transmission, Distribution and Smart Metering with favourable government policy and Favorable Industry strong T&D infrastructure demand with increasing shift to renewable energy and energy efficiency Landscape − Evolved and stable
Slide 24: Annexure
Adani Transmission Limited Debt Presentation | February 2 0 2 0 Transmission Annexure 14
Slide 25: Shifting from Time-based Maintenance to Reliability Centered Maintenance
ATL: As a matured O&M player, shifting from Time-based Maintenance to Reliability Centered Maintenance Time-based Maintenance Preventive Maintenance Condition-based Reliability Centered (TBM) (PM) Maintenance (CBM) Maintenance (RCM) • Emergency restoration • SAP Integration for • Performing key test
Slide 26: O&M Philosophy focused on Reliability, Longevity, Sustainability & Safety
ATL: O&M Philosophy focused on Reliability, Longevity, Sustainability & Safety Average Availability Analytical dashboard 99.9% 99.8% 99.8% 99.9% 99.7% Asset Integration in SAP Reliability Health Index formulation FY18 FY19 FY20 FY21 FY22 Longevity • Industry-leading ENOC Benefit System Availability
Slide 27: Case Study: TBCB portfolio takeout through USPP
Case Study: TBCB portfolio takeout through USPP USPP: 30 years USD notes (USD 400 mn) issued by restricted group of 7 subsidiaries of ATL (2,084 ckm network) with fixed coupon and amortizing structure matching the concession period & revenue profile of the issuer companies Case study USPP: Fully fun
Slide 28: ATL's Operational Asset Portfolio as of FY23
ATL’s Operational Asset Portfolio as of FY23 Adani Transmission Limited 100% 100% 75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% ATSCL & WTGL, PPP Bikaner Obra-C Lakadia WRSS – Jam ATIL MEGPTCL AEML MUL ATBSPL ATRL RRWTL CWRTL FBTL GTL APTL STL Khetri Badaun
Slide 29: ATL's Under-construction Asset Portfolio as of FY23
ATL‘s Under-construction Asset Portfolio as of FY23 Adani Transmission Limited 100% 100% 100% 100% 100% 100% 100% Since ATL’s evolution its Transmission Network (ckms) 100% 100% has grown 3.5x and expanded into Distribution Khavda- MP Kharghar AEMIL NKTL WKTL Bhuj Karur WR-SR KTL businesses Package
Slide 30: Legal Disclaimer
Legal Disclaimer The information contained in this presentation is provided by Adani Transmission Limited (together with its subsidiaries, the “Company” or “ATL”) to you solely for your reference and for information purposes only. This presentation is highly confidential and is being given solely fo
Slide 31: Thank You
adani Transmission adani Transmission Thank You ¢
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