Adani Energy Solutions Ltd · NSE:ADANIENSOL
Adani Energy Solutions — Adani Transmission — Q4 FY18 Earnings Presentation
14 slides from Adani Energy Solutions's earnings presentation
Slide 1: ATL- Key Operational Highlights
ATL- Key Operational Highlights Consolidated Yearly PAT rises by 174% to Rs. 1143 Cr compared to Rs. 416 Cr. in FY17. Consolidated quarterly PAT rises by 58% to Rs.150 Cr. in Q4 FY18 compared to Rs.95 Cr in Q4 FY17 Transmission Charges for FY18 is Rs. 3016 crores vs Rs. 2074 crores of FY17.
Slide 2: System Availability
System Availability Average YTD Average YTD ATIL Q4 2017-18 Q4 2016-17 2017-18 2016-17 Mundra - Mohindergarh Line 99.90% 99.72% 99.84% 99.09% Mundra - Dehgam Line 99.59% 99.71% 99.83% 99.91% Tiroda-Warora Line 99.60% 99.74% 99.85% 99.91% Average YTD Average YTD MEGPTCL Q4 2017-18 Q4 2016-17 2017-18
Slide 3: ATL- Key Highlights
ATL- Key Highlights Regulatory • Received for ATIL CERC order of ECB-RTL along with arrears amount of ~Rs 870 Crs and an annualised tariff increased of ~132 Cr. (Appx 90% of the amount has been received against the arrears till date) Green Field Projects • Constructions of projects won under TBCB ar
Slide 4: ATL- Key Highlights
ATL- Key Highlights Finance • Refinancing of acquired GMR Assets - ECB and RTL both refinanced with debt upsizing of Rs ~ 50 Crs resulting into better equity returns • Refinancing of WRTG and WRTM Assets- ECB and RTL in both the SPVs refinanced @ 8.% apx with debt upsizing of Rs ~ 200 Crs results in
Slide 5: Key Financial MIS : 12M FY18 v 12M FY17 (Consolidated)
Key Financial MIS : 12M FY18 v 12M FY17 (Consolidated) (Rs in Crore) Particulars 12M 17-18 12M 16-17 Revenue Net Transmission Charges 2,093.32 1,921.70 Transmission Charges 2,106.88 1,925.44 Less: Rebate 13.56 3.74 Incentive on availability 36.57 32.45 Expenses: Operating Exp Operating Expense 129.7
Slide 6: Key Financial MIS : 12M FY18 v 12M FY17 (Consolidated) (cont..)
Key Financial MIS : 12M FY18 v 12M FY17 (Consolidated) (cont..) EBIDTA (From Operation) 1,937.32 1,827.45 Operational EBIDTA Margin 91% 93% Add: Sale of Traded Goods/EPC 815.78 755.68 Construction income 109.50 6.40 Carrying Cost 16.87 43.31 Other Income 110.69 22.12 Less: Purchase of Traded materia
Slide 7: Revenue Variance
Revenue Variance 2250 2150 40 138 Total Revenue (Rs. in Cr) 2050 51 1950 31 2106 1850 1926 1750 FY 16-17 Revenue Increase due to acq Reliance Assets ATIL True up Decrease due to FY 17-18 Revenue of Maru aravali Acquisition Order of MEGPTCL- MERC Order Particulars/ Reasons
Slide 8: EBITDA Variance
EBITDA Variance 2,050 2,000 4 68 1,950 4 EBIDTA (Rs. in Cr.) 170 1,900 1,850 1,937 1,800 1,827 1,750 1,700 FY 16-17 Tariff Incentive Operating Employee FY 17-18 Expense Benefit Expense Particulars
Slide 9: Key Financial MIS : Q4 FY18 v Q4 FY17 (Consolidated) (cont..)
Key Financial MIS : Q4 FY18 v Q4 FY17 (Consolidated) (cont..) (Rs in Crore) Particulars Q4 17-18 Q4 16-17 Revenue Net Transmission Charges 533.43 487.97 Transmission Charges 543.88 488.87 Less: Rebate 10.45 0.90 Incentive on availability 10.43 7.96 Expenses: Operating Exp Operating Expense 32.54 24.
Slide 10: Key Financial MIS : Q4 FY18 v Q4 FY17 (Consolidated)
Key Financial MIS : Q4 FY18 v Q4 FY17 (Consolidated) EBIDTA (From Operation) 486.56 458.54 Operational EBIDTA Margin 89% 92% Add: Sale of Traded Goods/EPC 222.42 326.68 Construction income 39.57 6.40 Carrying Cost 4.10 5.62 Delayed Payment Surcharges - 0.03 Other Income 68.07 5.87 Less: Purchase of
Slide 11: Debt Profile
Debt Profile Obligor Group Debt Particulars 31.03.2018 31.3.2017 30.09.2017 Debt 7683 8093 7720 Cash/Bank balance (Including DSRA 611 478 369 326 cr.) Net debt (Obligaor group) 7072 7615 7351
Slide 12: Debt Profile
Debt Profile ATL Consolidated Particulars 31.03.2018 31.3.2017 30.09.2017 Debt 10109 8797 9169 Cash/Bank balance (Including DSRA 380 665 498 449 cr.) Net outside debt ( ATL Conso ) 9444 8299 8720 Net worth 6806 2946 2994 Debt:Equity 1.62 2.88 2.94 Book value 38 26.79 27.22
Slide 13: Capex
Capex Greenfield Projects Capex in green field projects: Total capex till date is near to Rs.2691 crores against total capex ~4000 cr. Equity Infusion: Total Equity infusion by ATL in all new projects is more than Rs.974 crores (Rs in Crores) Equity Year Debt Amount 2015-16 228 0 2016-17 442 1645 ti
Slide 14: BSES Update
BSES Update Adani Transmission Limited to acquire 100% control and economic interest in the integrated power utility business in Mumbai of Reliance Infrastructure Limited. Enterprise Value is INR 12101 Cr (proposed to be funded by Debt : INR 8500 Cr and Equity 3601 Cr) plus INR 1150 Cr. against