Jsw Energy Limited · NSE:JSWENERGY
Jsw Energy — Q2 FY2011 Earnings Presentation
42 slides from Jsw Energy's earnings presentation, November 2010
Slide 1: Q2 FY 2011 Results Presentation
A Energy Lighting up a billion dreams = NATION _
Slide 2: Agenda
Indian Scenario Company Overview Performance Highlights Fi Financial i l Highlights Hi hli h Status of Projects Business Strategy 2
Slide 3: Indian Scenario
INDIAN SCENARIO
Slide 4: India: Characterised by Power Shortage
A re 2. nese aE PP me > Energy INDIA: CHARACTERISED BY POWER SHORTAGE ol Rie \ \ aS oA > 5" largest electricity- generating and consuming capacity in the world > Per Capita annual consumption of electricity: 7209 kwh > India makes up 17% of the world population yet consumes only 3% of the world ener
Slide 5: India Outshines Global GDP Forecasts; Power Supply Deficit
India Outshines Global GDP Forecasts Power Supply Deficit (AprSep 2010) Source: IMF, CEA 5
Slide 6: Capacity Addition and Installed Capacity in India
Capacity Addition (Apr 2010 – Sept 2010) Capacity Installed as on September 30, 2010 TOTAL CAPACITY: 165 GW Source: Ministry of Power, CEA 6
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Slide 8: Established power company with profitable operations
240 MW 270 MW 810 MW Kutehr 270 MW 1,620 MW Established power company with profitable operations p p since Barmer inception in FY 2000 Jharkhand West Bengal Chhattisgarh - Operating capacity capacity‐‐ Current: 1,430 MW 1,620 MW 1,320 MW - By July 2011: 3,140 MW Ratnagiri 300 MW Vijayanagar - By F
Slide 9: Performance Highlights
Achieved Commercial Operation Date (COD) on September 1, 2010 for Unit I‐ 300 MW Ratnagiri Project Jaigad to New Koyna transmission line 2 successfully charged in J l 2010 July Fi fold Five f ld growth th in i capacity it on year on year basis b i Refinanced Rs. 1,003 Crores of high cost debt ‐ Redu
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Slide 11: Capacity Growth; Plant Wise Performance (Q2 FY 2011)
Capacity Growth (MW) Plant Wise Performance (Q2 FY 2011) 398% 11
Slide 12: Net Generation and Volume Growth
Net Generation (Million kwh) Volume Growth (Million kwh) 1781 1211 108% 47% 12
Slide 13: Sales Mix and Realisation
3,608 Sales Mix ( Million kwh) 34 % 1,781 1,731 1,211 36 % 26 % 29 % 66 % 71 % 64 % 74 % Realisation ` per kwh Q2 FY 2010 Q2 FY 2011 H1 FY 2010 H1 FY 2011 Short Term Realisation 5.15 4.65 5.51 5.25 Average Realisation 4.61 4.34 4.94 4.71 13
Slide 14: Financial Highlights
_ FINANCIAL HIGHLIGHTS ID
Slide 15: Turnover, EBITDA, PBT and PAT
Turnover ((` ` Crores) EBITDA (` (` Crores) 112 % 70 % 56 % 15 % PBT (` (` Crores) PAT (` (` Crores) 70 % 80 % 2% 6% 15
Slide 16: Financial Summary Q2 and H1
573 875 Turnover (` Crores) 895 1,858 324 503 EBITDA (` Crores))) 374 857 57% 57% EBITDA (%) 42% 46% 71 110 I t Interest t (` Crores)) C )) 94 168 32 47 Depreciation (` Crores) 55 102 221 346 PBT (` Crores) 225 587 174 268 PAT (` Crores) C ) 185 483 1.27 1.96 EPS (`) (Not Annualised) 1.13 2.95 16
Slide 17: Net Worth, Debt and Net Fixed Assets
Net Worth (` Crores) 4,780 5,264 Debt (` Crores) 7,870 8,634 Net Fixed Assets (` Crores) * 11,598 12,474 Debt Equity Ratio (Times) 1.65 1.64 Weighted Average Cost of Debt 11.51 % 11.32 % *Including CWIP 17
Slide 18: Utilisation of IPO Proceeds
Project P j Actuall Amount A A Utilisation upto September 30, 2010 Utilisation as Spent upto per Prospectus Sept 30, 2010 2142.53 969.31 Part Finance for Identified Projects j Repayment of Corporate Debt 470.00 470.00 p Share Issue Expenses 75.98 64.52 General Corporate Purpose 11.49 Unutilised Am
Slide 19: Vijayanagar Expansion and Employee Stock Option Scheme
Capacity expansion at Vijayanagar by 660 MW Introduction of Employee Stock Option Scheme (ESOS) ‐ Issuance I off upto 2,00,00,000 2 00 00 000 stock k options i convertible ibl into i equall number of equity shares ‐ (dilution of 1.20%) ‐ Subject to approval of shareholders 19
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Slide 21: Transmission Project Status
Project Details Status Update Gross Capacity 1200 MW, 400 KV Transmission •Jaigad – Koyna Line II successfully charged on July 7, 2010 Double Circuit Quad Moose T h l Technology Conductor Line •Jaigad – Karad: •Tower Foundations: 88% Procurement Orders placed •Tower Erection: 53% •Stringing: Stringi
Slide 22: Mining and JSW Toshiba Status Update
Status Update Mine development process commenced at Kapurdi BLMCL MOEF Clearance received for Jalipa mines Mine development plan approved for Jalipa mines Expected to extract lignite by Q4 FY 2011 60% work completed for Kapurdi mines Land acquisition at advanced stage for Jalipa mines MJSJ Coal Publ
Slide 23: Generation Projects
GENERATION PROJECTS !
Slide 24: Barmer Project Details and Status
Project Details Status Update •Unit II COD October 4, 2010 Gross Capacity 1,080 MW (8 x 135) •PLF of 73.85% for Unit I during Technology Subcritical Captive Lignite based TPP September 2010 FSA with BLMCL ((49% JV)J ) for supply pp y •Unit III & IV boiler hydro test completed Fuel Linkage of lignit
Slide 25: Ratnagiri Project Details and Status
Project Details Status Update bi Gross Capacity 1200 MW (4 x 300) •Boiler II light up done & steam blowing started t t d Technology Subcritical Imported Coal based TPP •Unit II synchronization expected in Long term supply arrangement for November 2010 Fuel Linkage Indonesian coal & mines in South A
Slide 26: West Bengal Project Details and Status
Project Details Status Update Gross Capacity 1620 MW •Water availability study conducted Supercritical Domestic coal based •In principle approval received for Technology TPP entering into a LT PPA for surplus power •Agreement executed for coal raising & 74 % JSWEL coal procurement g Share Holding
Slide 27: Chhattisgarh Project Details and Status
Project Details Status Update Gross Capacity 1,320 MW (2 x 660) •Consent for chimney clearance given by Airport Authority Supercritical p domestic coal based T h l Technology TPP •Tender documents for BTG issued MoU signed with GoCG for setting up •Public hearing completed in August Authority a TPP
Slide 28: Kutehr Hydro Project Details and Status
Project Details Status Update •Prequalification of vendors completed Gross Capacity 240 MW (3 x 80) f Main for M i Civil Ci il Works W k •Public hearing for Environment Technology Runoftheriver Hydropower clearance held successfully Water •Techno Economic Clearance from CEA Ravi River received on
Slide 29: Karnataka Project Details and Status
Project Details Status Update Gross Capacity 660 MW (1 x 660) • Land identified Technology Super critical coal based TPP • MOEF approval being applied for Imported coal / Domestic linkage Fuel Linkage coall Water Source Almatti Dam Merchant M h t power & L Long T Term Power Off take PPA Project Cost
Slide 30: Rajasthan Project Details and Status
Project Details Status Update Gross Capacity 270 MW (2 x 135) • Land in possession Subcritical Captive lignite based Technology TPP •Applied for coal linkage Fuel Linkage Applied to Ministry of Coal Water Allocation from IGNP Allocation Short Term power purchase Power Off take arrangements Total Cos
Slide 31: Maharashtra Project Details and Status
Project Details Status Update Gross Capacity 3 200 MW (4 x 800) 3,200 •Substantial S b i l land l d in i possession i Supercritical imported coal based Technology •In the process of obtaining TPP necessary consents and approvals Letter of support from Government Authority of Maharashtra Fuel Linkag
Slide 32: Business Strategy
BUSINESS STRATEGY
Slide 33: Business Strategy: Core, New Business and Beyond Core
Beyond Core Business Mining Harness growth opportunity Equipment E i Manufacturing M f i provided by the sector Access to New Business Sustain Core Business Transmission Straddle all segments of Trading power business Distribution Integration Cost Reduction Strengthening S h i Fuel Securit
Slide 34: Plant Overview
Plant Overview 34
Slide 35: Plant Overview: As on September 30, 2010
As on September 30, 2010 As on June 30, 2010 35
Slide 36: Plant Overview: As on September 30, 2010
As on September 30, 2010 As on June 30, 2010 36
Slide 37: TG 4 TG 3
TG 4 TG 3 37
Slide 38: Plant Overview: As on September 30, 2010
As on September 30, 2010 As on June 30, 2010 38
Slide 39: Plant Overview: As on September 30, 2010
As on September 30, 2010 As on June 30, 2010 39
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Slide 41: Forward-looking statements disclaimer
Certain statements in this report p concerningg our ffuture ggrowth pprospects p are fforward looking g statements, which involve a number of risks, and uncertainties that could cause actual results to differ materially from those in such forward looking statements. The risk and uncertainties relati
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