Torrent Power Limited · NSE:TORNTPOWER
Torrent Power — Q2 FY2019-20 Earnings Presentation
24 slides from Torrent Power's earnings presentation, Nov 5, 2019
Slide 1: Investor Presentation Q2 2019-20
INVESTOR PRESENTATION Q2 2019-20
Slide 2: Disclaimer
Disclaimer This information may contain certain forward-looking statements/details in the current scenario, which is extremely dynamic and increasingly fraught with risks and uncertainties. Actual results, performances, achievements or sequence of events may be materially different from the views ex
Slide 3: Presentation Outline
Presentation Outline Sr. No. Particulars 1. Torrent Group 2. Torrent Power Limited 3. Overview of Operations : Q2 2019-20 4. Investment Rationale 5. Five Year Trend : Key Financial & Technical Statistics
Slide 4: Torrent Group
1. Torrent Group TORRENT PHARMACEUTICALS LIMITED • A generics pharmaceutical major with strong global footprint • Ranked in top 10 in Indian pharma market with leading position in niche therapeutic areas • Ranked No. 1 among Indian Pharma companies in Brazil, Germany & Philippines TORRENT POWER LIMI
Slide 5: Torrent Group (Contd…)
Torrent Group (Contd…) Turnover $ 3010 Mn Market Cap $ 5943 Mn Enterprise Value $ 8487 Mn Employees 22,950+ Spreading smiles Illuminating Lives Not just healthcare… Lifecare Generating Trust. Distributing Opportunities. Building pan-India state-of-art Turnover: $ 1109 Mn Turnover: $ 1901 Mn city gas
Slide 6: Torrent Power Limited
2. Torrent Power Limited Spreading smiles Illuminating Lives Thermal Solar Wind Transmission Distribution - Licensed - 2730 MW state- - 355 kms 400 kV distribution areas - 138- 138 MWMWoper- of - 473 - 430MWMWoper- of of-art gas based operational & 128 Kms of - Licensed covering Ahmed- ational capac
Slide 7: Portfolio of Assets: Thermal Generation
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : THERMAL GENERATION 1147.5 MW 382.5 MW 1200 MW 362 MW (3 x 382.5) (1 x 382.5) (3 x 400) (1 x 120 MW, 2 x 121 MW) Gas-based CCPP Gas-based CCPP Gas-based CCPP Coal Based Near Surat, Gujarat Near Surat, Gujarat Near Bharuch, Ahmedabad, Gujarat Gujara
Slide 8: Portfolio of Assets: Renewable Generation
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : RENEWABLE GENERATION 51 87 49.6 201.6 50.9 50.4 120 Adjacent to Gulbarga & Patan in Jamnagar in Bhuj in Bhavnagar in SUGEN Plant, Rajkot in Gujarat Raichur in Gujarat Gujarat Gujarat Gujarat Gujarat Karnataka FY 15 FY 16 FY 12 FY 17 FY 19 FY 19 FY
Slide 9: Portfolio of Assets: Wind Projects Under Development
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : WIND PROJECTS UNDER DEVELOPMENT Particulars/ Project SECI I SECI III MSEDCL SECI V Capacity (In MW) 50* 499.8# 126 115 SCOD Oct, 2018* Nov, 2019 Jan, 2020 July 2020 Location (District, Kutch, Gujarat Kutch, Osmanabad, Kutch, Gujarat State) Gujarat
Slide 10: Portfolio of Assets: Distribution
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : DISTRIBUTION Licensed Distribution Franchised Distribution Particulars Ahmedabad/ Surat Dahej Bhiwandi Agra Gandhinagar Licensed Area ~ 356 sq. km. ~ 52 sq. km. ~ 17 sq. km. ~ 721 sq. km. ~ 221 sq. km. Peak Demand 1,906 MW 687 MW 66 MW 555 MVA 458
Slide 11: Upcoming Distribution License Area
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : UPCOMING DISTRIBUTION LICENSE AREA The Company has been awarded distribution license for Dholera Special Industrial Region (Dholera SIR) of ~920 Sq Kms for 25 years as additional licensee Dholera SIR is a major project in the Delhi-Mumbai Indu
Slide 12: Upcoming Distribution Franchise Area
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : UPCOMING DISTRIBUTION FRANCHISE AREA TPL has been awarded the distribution franchise for Shil, Mumbra & Kalwa area by MSEDCL, based on competitive bidding process for 20 years. The ~65 Sq Kms area is part of Thane Urban Circle of MSEDCL and is
Slide 13: Overview of Operations Q2 2019-20: Consolidated Income Statement
3. Overview of Operations – Q2 2019-20 CONSOLIDATED INCOME STATEMENT Q2 19-20 Q2 18-19 Growth H1 19-20 H1 18-19 Growth FY 18-19 Particulars (Rs. Cr.) Unaudited Unaudited % Unaudited Unaudited % Audited Revenue from Operations 3,842 3,445 12% 7,578 6,973 9% 13,151 Power Purchase Cost 2,179 2,054 4,63
Slide 14: Overview of Operations: Drivers of Increase in Total Comprehensive Income
Overview of Operations – Q2 2019-20 (Contd…) The major drivers of increase in the reported Total Comprehensive Income for the quarter are: Contribution from new long term PPA for 278 MWs (Unosugen plant) operationalised during the quarter & higher merchant power sales during the quarter; Favoura
Slide 15: Scheme of Arrangement for Transfer of Cable Business
Overview of Operations – Q2 2019-20 (Contd…) SCHEME OF ARRANGEMENT FOR TRANSFER OF CABLE BUSINESS The Board at its meeting of even date, has approved a Scheme of Arrangement for transfer of Cable Business Undertaking of the Company to TCL Cables Pvt. Ltd., a wholly owned subsidiary of the Company, o
Slide 16: Thermal PLF and Net Generation
Overview of Operations – Q2 2019-20 (Contd…) Thermal PLF (%)/ Net Generation (MUs) 93.51% 90.51% 65.83% 70.21% 64.39% 1626 1587 684 662 MUs MUs MUs MUs 577 MUs 8.64% 214 0.00% 0.00% MUs SUGEN UNOSUGEN DGEN AMGEN 1147.5 MW 382.5 MW 1200 MW 362 MW Q2 2018-19 Q2 2019-20
Slide 17: Renewable PLF and MUs Dispatched
Overview of Operations – Q2 2019-20 (Contd…) Renewable PLF (%)/MUs Dispatched 44.14% 39.12% 475 477 MUs MUs 13.01% 12.92% 40 39 MUs MUs 264 431 MW 473 MW 138 MW MUs WIND SOLAR Q2 2018-19 Q2 2019-20
Slide 18: Distribution Units and T&D Loss
Overview of Operations – Q2 2019-20 (Contd…) USO/Purchase (MUs) 2,317 2,163 859 898 915 927 618 651 A'bad Surat Bhiwandi Agra Q2 18-19 Q2 19-20 T&D Loss (%) T&D Loss (%) 16.30% 3.45% 3.48% 14.11% 2.66% 10.10% 9.08% 1.29% A'bad Surat Bhiwandi Agra Q2 18-19 Q2 19-20 Q2 18-19 Q2 19-20
Slide 19: Investment Rationale
4. Investment Rationale • State of the art gas • Huge growth • Need for a robust • Opportunities for based plants potential in renew- grid to support huge private sector • Direct import of LNG at ables at returns increase in considering the efficient cost higher than COE renewables capacity endemic
Slide 20: Value Creation
Investment Rationale (Contd…) Excellent operational Regulated records Promising businesses growth ensuring opportunities stable returns Unmatched Strong project distribution management model skills World class Rational generation Value allocation of assets Creation capital
Slide 21: Five Year Trend - Key Financial Statistics
5. Five Year Trend - Key Financial Statistics Revenues from Operations (₹ Crore) EBIDTA (₹ Crore)/EBIDTA Margin (%) 13151 11716 11512 3381 3389 10396 3336 10000 2651 2423 27% 26% 28% 29% 23% 2014-15 2015-16 2016-17 2017-18 2018-19 2014-15 2015-16 2016-17 2017-18 2018-19 TCI (₹ Crore) Net Worth (₹ Cr
Slide 22: Five Year Trend - Key Financial Statistics (Contd…)
Five Year Trend - Key Financial Statistics (Contd…) Net Debt / EBITDA Net Debt Equity Ratio 0.93 0.93 0.92 2.95 2.99 0.89 2.49 2.61 2.26 0.80 2014-15 2015-16 2016-17 2017-18 2018-19 2014-15 2015-16 2016-17 2017-18 2018-19 Return on Capital Employed Return on Networth 11.21% 13.22% 12.62% 9.62% 8.23%
Slide 23: Five Year Trend - Key Technical Statistics
Five Year Trend - Key Technical Statistics (Contd…) SUGEN PAF-PLF (%) T&D loss (%) Distribution Licensee 98.12% 98.38% 96.38% 95.86% 98.46% 7.15% 7.34% 6.81% 6.31% 5.61% 65.26% 62.29% 47.50% 35.78% 4.09% 3.89% 3.92% 3.59% 25.70% 3.43% 2014-15 2015-16 2016-17 2017-18 2018-19 2014-15 2015-16 2016-17 2
Slide 24: Thank You
Contact details: Rishi Shah Torrent Power Limited THANK YOU “Samanvay”, 600 Tapovan, Ambawadi, Ahmedabad 380015 Ph. No. (079) 26628473 Email: IR@torrentpower.com www.torrentpower.com