Jsw Energy Limited · NSE:JSWENERGY

Jsw Energy — Q4 FY2018 Earnings Presentation

19 slides from Jsw Energy's earnings presentation, May 3, 2018

  1. Slide 1: JSW Energy Limited Q4 and FY 2018 Results Presentation

    JSW Energy Limited Q4 and FY 2018 Results Presentation May 3, 2018

  2. Slide 2: Key highlights for Q4FY18

    Key highlights for Q4FY18  Long term PPA (LTPPA) proportion at 75.0% in Q4FY18, up from 69.3% in Q3FY18, after securing 200MW LTPPA with Punjab discom and 50MW group captive contract  Net debt reduced by ~ ` 3,106 crore in FY18 after adjusting for JPVL liability; cost of debt dipped by 114bps from

  3. Slide 3: Agenda

    Agenda Business Environment Operational and Financial Performance 3

  4. Slide 4: Demand growth rate further picks up to 7.1% in Q4FY18

    Demand growth rate further picks up to 7.1% in Q4FY18 Q1FY18 Q2FY18 Q3FY18 Q4FY18 FY18 Region YoY % YoY % YoY % YoY % YoY % Remarks (MUs) (MUs) (MUs) (MUs) (MUs) Driven by UP (Q4: 5%, FY18: 12% YoY North 95,880 4.2% 1,07,414 9.1% 85,460 6.4% 83,107 6.1% 3,71,861 6.5% growth), J&K (Q4: 10.2%, FY18: 8

  5. Slide 5: Thermal PLF increases to 63.6% in Q4FY18

    Thermal PLF increases to 63.6% in Q4FY18 Remarks Gross Q1FY18 Q2FY18 Q3FY18 Q4FY18 YoY % FY18 YoY % YoY % YoY % YoY % Generation (MUs) (MUs) (MUs) (MUs) (MUs) Thermal 2,61,664 2.3% 2,47,340 8.4% 2,58,355 1.6% 2,69,325 5.2% 10,36,684 4.3% • Robust generation growth of 5.3%YoY in FY18 primarily led by

  6. Slide 6: Merchant tariff higher in CY18 on YoY basis

    Merchant tariff higher in CY18 on YoY basis Q1FY18 Q2FY18 Q3FY18 Q4FY18 FY18 Merchant Volume Merchant Tariff Trend 11,877 12,214 11,028 10,711 45,830 IEX+PXIL (MUs) 5.00 4.50 Merchant Volume 16.6% 11.2% 4.3% 8.7% 10.2% growth YoY 4.00 Merchant Volume as 3.50 % of Total 3.6% 3.7% 3.5% 3.4% 3.5% 3.00

  7. Slide 7: RE Capacity addition falls short of target

    RE Capacity addition falls short of target Sector-wise Installed Capacity : 344.0 GW Mode-wise Installed Capacity (as on Mar 31, 2018) (as on Mar 31, 2018) +4,259 MW * +8 MW * +11,778 MW * Total: 84.5 GW # Total: 104.0 GW # Total: 69 GW # RES 20.1% Central State 24.6% 30.2% +815 MW * Hydro Total: 45

  8. Slide 8: Indian economy and thermal coal prices

    Indian economy and thermal coal prices Thermal coal prices remain at elevated levels, while INR  Maintaining healthy growth, Industrial Production grew at depreciated marginally in Q4 FY18 7.1%YoY in February 2018 Indexed API 4 Coal (monthly avg.) USD/INR (monthly avg.)  Growth recovery signs are

  9. Slide 9: Agenda

    Agenda Business Environment Operational and Financial Performance 9

  10. Slide 10: Power generation

    Power generation Q4 plant-wise net generation Annual plant-wise net generation 7% 1% 21,816 21,631 4,355 4,063 48% 20% 1% 9% 5% 3% 35% 1% 4,070 3,703 5,862 5,672 1,317 1,387 5,826 6,110 1,670 1,436 6,140 6,064 389 391 857 971 Ratnagiri Vijayanagar Barmer Hydro Total Ratnagiri Vijayanagar Barmer Hydr

  11. Slide 11: Long term PPAs

    Long term PPAs in MW 3,328MW 3400 250MW 75.0% * 3300 3200 3,078MW 3100 69.3% * 3000 2,866MW 2,870MW 2900 64.5% * 64.6% * 2800 2700 Q1FY18 Q2FY18 Q3FY18 Addition in Q4FY18 Q4FY18 Availability under long term PPA remained above normative in Q4FY18  Secured 200 MW LT PPA with Punjab discom for Karcham

  12. Slide 12: Consolidated financial results

    Consolidated financial results ` Crore Q4 FY17 Q4 FY18 Particulars FY17 FY18 1,935 1,879 Turnover 8,480 8,514 660 525 EBITDA 3,541 3,228 34% 28% EBITDA Margin(%) 42% 38% 397 323 Interest 1,685 1,456 238 238 Depreciation 969 966 25 (36) Profit before Tax (before exceptional items) 887 806 24 (65) Pro

  13. Slide 13: Proactive & Prudent Provisioning in Q4FY18

    Proactive & Prudent Provisioning in Q4FY18  Provisioning of ` 241 crore related to investments in Toshiba JSW JV and South African operations  Commissioned valuation of both the businesses  Adopting a conservative approach, total provisioning hit of ` 241 crore taken in Q4FY18  No impact on cons

  14. Slide 14: Consolidated financial highlights

    Consolidated financial highlights Particulars Jun 30, 2017 Sep 30, 2017 Dec 31, 2017 Mar 31, 2018 Net Worth (` Crore) 10,696 11,259 11,469 11,110 Net Debt (` Crore) 13,686 12,679 11,896 11,278 Net Debt to Equity Ratio (x) 1.28 1.13 1.04 1.02 Weighted average cost of debt 10.05% 9.33% 9.04% 9.03% Deb

  15. Slide 15: Sustained reduction in net debt

    Sustained reduction in net debt in ` crore 14500 ` 14,384 cr JPVL related liability 14000 ` 1,000 cr 13500 (non-funded) 13000 Reduction of ~ ` 3,106 cr 12500 Net debt 12000 ` 13,384 cr Net debt ` 13,686 cr Net debt 11500 ` 12,679 cr Net debt ` 11,896 cr 11000 Net debt 10500 ` 11,278 cr 10000 Q4FY17

  16. Slide 16: Entity wise summary financial performance

    Entity wise summary financial performance ` Crore Q4 FY17 Q4 FY18 Income from Operations FY17 FY18 1,013 1,017 Standalone 4,041 4,212 604 569 RWPL 2,499 2,211 202 146 HBPCL 1,452 1,401 23 22 JPTL 90 89 1,862 1,775 Consolidated * 8,263 8,049 Q4 FY17 Q4 FY18 EBITDA FY17 FY18 229 265 Standalone 1,234 1

  17. Slide 17: Key updates during Q4FY18

    Key updates during Q4FY18  EV & associated business: Business development phase gathering pace  Appointed Mr. Sergio Rocha, an auto industry expert, as COO – EV, Passenger Vehicles. Dedicated team continues to be built.  Scope widened to include select electric CV models including electric bus &

  18. Slide 18: Forward looking and cautionary statement

    Forward looking and cautionary statement This presentation has been prepared by JSW Energy Limited (the “Company”) based upon information available in the public domain solely for information purposes without regard to any specific objectives, financial situations or informational needs of any parti

  19. Slide 19: Thank you

    Thank you 19

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