Adani Energy Solutions Ltd · NSE:ADANIENSOL
Adani Energy Solutions — Adani Transmission — Q2 FY2019 Earnings Presentation
26 slides from Adani Energy Solutions's earnings presentation, October 2018
Slide 1: Adani Transmission Ltd. H1 FY2018-19 Consolidated Reviewed Financials
TRANSMISSIONAdani BUSINESS Transmission Ltd. MIS for April – June 2015 H1 FY2018-19 Consolidated Reviewed Financials
Slide 2: ATL- Key Highlights
ATL- Key Highlights Key Highlights of ATL PAT of the Company for the H1FY19 has increased by 75% to Rs.265 Crores vs to Rs.151 Crores in H1FY18. PAT of the Company for the Q2FY19 has increased to Rs.95 Crores vs to Rs.67 Crores in Q2 FY18 after considering one time reversal of Rs.89 Crores as pe
Slide 3: ATL H1 Consolidated Profitability
ATL H1 Consolidated Profitability Sep’18 3
Slide 4: Key Financial MIS: H1 FY19 v H1 FY18 (Consolidated)
Key Financial MIS : H1 FY19 v H1 FY18 (Consolidated) (Rs in Crore) H1 FY19 H1 FY19 H1 FY19 Sr No. Particulars H1 FY18 Transmission Distribution (Consolidated) 1 Revenue 1.1 Income from Sale of Power and Transmission 1,072.92 649.93 1,722.85 955.69 Income from Sale of Power and Transmission 1.1.a 1,0
Slide 5: Key Financial MIS: H1 FY19 v H1 FY18 (Consolidated) (cont..)
Key Financial MIS : H1 FY19 v H1 FY18 (Consolidated) (cont..) (Rs in Crore) H1 FY19 H1 FY19 H1 FY19 Sr No. Particulars H1 FY18 Transmission Distribution (Consolidated) 6=(3+4-5) EBITDA 1,142.01 204.37 1,346.38 915.45 7 Finance Cost 425.71 109.61 535.32 423.19 8 Depreciation 296.22 68.25 364.47 290.5
Slide 6: Key Financial MIS: Q2 FY19 v Q2 FY18 (Consolidated)
Key Financial MIS : Q2 FY19 v Q2 FY18 (Consolidated) (Rs in Crore) Q2 FY19 Q2 FY19 Q2 FY19 Sr No. Particulars Q2 FY18 Transmission Distribution (Consolidated) 1 Revenue 1.1 Net Transmission Charges 543.60 649.93 1,193.53 477.95 1.1.a Transmission Charges 544.70 649.93 1,194.63 478.90 1.1.b Less: Reb
Slide 7: Key Financial MIS: Q2 FY19 v Q2 FY18 (Consolidated) (cont..)
Key Financial MIS : Q2 FY19 v Q2 FY18 (Consolidated) (cont..) (Rs in Crore) Q2 FY19 Q2 FY19 Q2 FY19 Sr No. Particulars Q2 FY18 Transmission Distribution (Consolidated) 6=(3+4-5) EBITDA 562.71 204.37 767.08 452.90 7 Finance Cost 214.67 109.61 324.28 215.84 8 Depreciation 150.18 68.25 218.43 145.99 9.
Slide 8: ATL-Transmission
ATL-Transmission adani
Slide 9: System Availability
System Availability Company Lines Q2 2018-19 Q2 2017-18 Mundra - Mohindergarh Line 99.79% 99.94% ATIL Mundra - Dehgam Line 99.36% 99.93% Tiroda-Warora Line 100.00% 100.00% MEGPTCL Tiroda-Aurangabad Line 99.97% 99.97% Maru - Bikaner - Ajmer 100.00% 100.00% GMR Aravali - Hinduan - Alwar 100.00% 100.00
Slide 10: Key Financial MIS: H1 FY19 v H1 FY18 (Consolidated without AEML)
Key Financial MIS : H1 FY19 v H1 FY18 (Consolidated without AEML) (Rs in Crore) Sr No. Particulars H1 FY19 H1 FY18 1 Revenue 1.1 Net Transmission Charges 1,072.92 955.69 1.1.a Transmission Charges 1,075.67 957.47 1.1.b Less: Rebate 2.75 1.79 1.2 Incentive on availability 24.88 15.71 2 Expenses: 2.1
Slide 11: Key Financial MIS: H1 FY19 v H1 FY18 (Consolidated without AEML) (cont..)
Key Financial MIS : H1 FY19 v H1 FY18 (Consolidated without AEML) (cont..) (Rs in Crore) Sr No. Particulars H1 FY19 H1 FY18 6=(3+4-5) EBITDA 1,142.01 915.45 7 Finance Cost 425.71 423.19 8 Depreciation 296.22 290.55 9 Revenue Reversal as per MERC True Up Order -89.57 - 10=(6-7- PBT 330.51 201.71 8+9)
Slide 12: Revenue Variance
1,100 1,080 1,060 1,040 1,020 1,000 980 960 940 920 900 880 Revenue Variance i 1,072 956 59 30 49 H1 FY 17-18 Revenue ATILRegulatory True As per MERC order in WTPL & WTGL acq in CWRTL,PPP8,9,10,STL H1 FY 18-19 Revenue up MEGPTCLRs.13.8 Cr & Nov17. & ATRLrevenue Rs.16 Crs as per (Full Yr) booked afte
Slide 13: EBITDA Variance
1,050 1,000 950 900 850 800 891 H1 FY 17-18 EBITDA Variance EBITDA (Rs. InCr) m™ Variance 117 2 - 1,009 Due to Revenue Incentive Operating Expense H1 FY 18-19 on Higher Assets
Slide 14: Key Financial MIS: Q2 FY19 v Q2 FY18 (Consolidated without AEML)
Key Financial MIS : Q2 FY19 v Q2 FY18 (Consolidated without AEML) (Rs in Crore) Sr No. Particulars Q2 FY19 Q2 FY18 1 Revenue 1.1 Net Transmission Charges 543.60 477.95 1.1.a Transmission Charges 544.70 478.90 1.1.b Less: Rebate 1.09 0.95 1.2 Incentive on availability 11.00 7.43 2 Expenses: 2.1 Opera
Slide 15: Key Financial MIS: Q2 FY19 v Q2 FY18 (Consolidated without AEML) (cont..)
Key Financial MIS : Q2 FY19 v Q2 FY18 (Consolidated without AEML) (cont..) (Rs in Crore) Sr No. Particulars Q2 FY19 Q2 FY18 6=(3+4-5) EBITDA 562.71 452.90 7 Finance Cost 214.67 215.84 8 Depreciation 150.18 145.99 9 Revenue Reversal as per MERC True Up Order -89.57 - 10=(6-7-8+9)PBT 108.30 91.06 11.1
Slide 16: Debt Profile as on 30th Sep 2018 (Obligor Group)
Debt Profile as on 30th Sep 2018 (Obligor Group) INR Crs Avg. Tenor ATL Interest Particular Issuance Date (From Issuance) Amt WAC Paymemt NCD IDFC 16-02-16 4.2 Years 500 9.35% Annual NCD Socgen 12-05-16 4 Years 165 9.35% Annual NCD HDFC 30-05-16 3.1 Years 750 9.85% Annual NCD Reliance 03-06-16 3.5 Y
Slide 17: Debt Profile as on 30th Sep 2018 (GMR + Reliance)
Debt Profile as on 30th Sep 2018 (GMR + Reliance) INR Crs Particular Issuance Date Maru Aravali Interest Amt WAC Amt WAC Payment ECB 18-09-17 110 8.85% 110 8.85% Quarterly RTL 30-06-17 68 9.35% - - Monthly Total 178 9.04% 110 8.85% INR Crs Particular Issuance Date WTPL WTGL Interest Amt WAC Amt WAC
Slide 18: AEML - Distribution
AEML - Distribution adani
Slide 19: AEML- Key Highlights
AEML- Key Highlights Key Highlights of AEML Post the acquisition, the Company was renamed to Adani Electricity Mumbai Limited and the license was assigned by MERC AEML recorded an operating EBITDA of INR 203 Cr in Sep 2018 AEML recorded cash profit of INR 86 Cr in Sep 2018 AEML is now focusi
Slide 20: Signage Changes, Bill & Website Change
AEML Distribution Signage Changes Bill & Website Change
Slide 21: Consumption Mix: Sep 18 Vs Sep 17
Consumption Mix : Sep 18 Vs Sep 17 YTD Sep- YTD Sep- Sep-2018 Sep-2017 Particulars 2018 2017 (Mus) (Mus) (Mus) (Mus) Units purchased (MU's) * 744 4,817 782 4,834 Units Sold (MU's) 692 4,436 717 4,449 Distribution loss % 7.46% 8.60% 9.15% 8.64% * This is after considering transmission loss of 3.0% to
Slide 22: Key Financial MIS: Profitability of Adani Electricity Mumbai Ltd. (Sep 18)
Key Financial MIS: Profitability of Adani Electricity Mumbai Ltd. ( Sep 18 ) Particulars YTD Sep-18 Sep-18 Sep-17 MU's Sold 4,436.00 692.00 716.68 Avg Realisation Rate 7.74 8.42 7.71 Revenue : Income from Sale of Energy 3,605.51 607.45 579.94 Less - Discount for Prompt payment of Bills 13.27 1.84 1.
Slide 23: Revenue to EBITDA of AEML Sep'18
Revenue to EBITDA of AEML Sep’18
Slide 24: Debt Profile as on 30th Sep 2018 (AEML)
Debt Profile as on 30th Sep 2018 (AEML) Rs. Crs Tenor (From Sanction AEML Interest Particular Issuance) Limit Payment Amt WAC Long Term Loans from Banks Yes Bank Limited 15 Years 2750 2,723 9.05% Monthly State Bank of India 15 Years 3000 2,970 9.05% Monthly Bank of India 15 Years 2000 1,980 9.05% Mo
Slide 25: Consolidated Long Term Debt Profile and Promoter Contribution
Consolidated Long Term Debt Profile as on 30th Sep 2018 WTGL/WTPL/ Under Total Particulars ATL Obligors Maru/Aravali Construction AEML Rs. In Crs Long Term Loan/CP 7,714 1,093 1,835 8,415 19,057 Less Cash and Cash - - - - 730 Equivalents Net Debt 7,714 1,093 1,835 8,415 18,327 Promoter contribution
Slide 26: AEML Distribution - CSR
AEML Distribution - CSR Over 20 AEML Special Wide Coverage Enthusiastically surroundings & Contribution in across leading Volunteered by Publics Places ‘Juhu Beach’ English & ~1500 covered Cleaning Drive Regional Media employees (22 News feeds)