Orient Green Power Company Ltd · NSE:GREENPOWER
Orient Green Power — Q3 FY14 Earnings Presentation
22 slides from Orient Green Power's earnings presentation, February 2014
Slide 1: Q3 and YTD FY14 Results
Q3 and YTD FY14 Results Leading Diversified Renewable Energy Generation Company
Slide 2: Disclaimer
Disclaimer Certain statements in this presentation concerning our future growth prospects are forward looking 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 risks and uncertainties
Slide 3: Financial & Operational Highlights – Q3 & YTD FY14
Financial & Operational Highlights – Q3 & YTD FY14
Slide 4: Performance Highlights – Wind Business
Performance Highlights WIND BUSINESS 4.2 Mw was added during the quarter and aggregate of 78.8 Mw were added up to Q3 FY14; taking the total operating wind assets capacity to 416 Mw as of February 8, 2014 Due to improved hydel generation and purchase of power from outside Tamil Nadu, the quarter
Slide 5: Performance Highlights – Biomass Business
Performance Highlights BIOMASS BUSINESS During the quarter, one biomass plant commissioned in Kishanganj, Rajasthan (8Mw) with a record tariff of Rs. 5.90 per KwH. Further, two more units aggregating to 17.5 Mw have been commissioned in A.P. and M.P. in January 2014 Poor off take by TN consumers
Slide 6: Financial Performance – Q3 & YTD FY14
Financial Performance – Q3 & YTD FY14 Rs. Million Q3FY14 Q3FY13 YTDFY14 YTDFY13 Sale of Power 671.00 582.12 2755.35 3061.19 Other Operating Income 88.34 136.94 386.33 525.77 Total Income 759.34 719.06 3141.68 3586.96 Expenditure Cost of biomass fuel 146.57 248.43 508.54 837.16 O&M and other costs 28
Slide 7: Balance Sheet as at December 31, 2013
Balance Sheet as at December 31, 2013 Rs. Million As at Dec'13 As at Mar'13 Equity and Liabilities Shareholders' Funds (a) Share Capital 5680.78 4,680.78 (b) Reserves & Surplus 5802.71 6,208.39 Sub-Total Shareholders Funds 11,483.49 10,889.17 Share Application Money Pending Allotment 72.87 1523.00 M
Slide 8: Balance Sheet as at December 31, 2013 (contd.)
Balance Sheet as at December 31, 2013 (contd.) Rs. Million As at Dec'13 As at Mar'13 ASSETS Non - Current Assets Fixed assets 29,440.54 29,575.51 Goodwill on Consolidation 533.38 511.86 Non-current Investments 0.13 0.13 Long-term loans and advances 2687.93 2,560.86 Other non Current Assets 406.87 16
Slide 9: Renewable Energy Certificates
Renewable Energy Certificates RECs market underwent significant revival during the quarter, as the demand for certificates rose for fourth straight month as companies seek to comply with renewable targets amid enforcement by government regulators The demand surged almost 10-fold since a low in A
Slide 10: REC Trading and Revenue upto December 2013
REC Trading and Revenue upto December 2013 REC Trade Results - Consolidated (IEX + PXIL) Market Clearing REC traded from Market Share of REC Revenue Average Price Month Volume - Non OGPL Projects OGPL (%) (Rs. Lacs) (Rs./ REC) Solar Jan – 13 193,337 10,598 5.48% 159 1,500 Feb – 13 152,952 6,222 4.07
Slide 11: Wind Operations
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Slide 12: Wind Operations - India
Wind Operations - India Unit of Q3 Q3 YTD YTD Particulars Measurement FY 14 FY 13 FY 14 FY 13 Capacity Mw 405.46 337.41 405.46 337.41 Units Generated (Gross) Mn 83.57 67.95 444.03 466.84 Annualized PLF % 9.28 9.19 17.84 21.34 Average Gross Realisation (before charges Rs./ Unit 5.59 5.03 5.02 4.53 an
Slide 13: Capacity Expansion
Capacity Expansion Wind Capacity States Remarks (Mw) Tamil Nadu 12.80 Commissioned in July / August 2013 43.20 Mw commissioned in August 2013 and balance 43.20 Andhra Pradesh 7.20 Mw planned before the season of 2014 41.20 34.00 Mw planned in FY 2015 12.60 12.60 Mw has been commissioned in May 2013
Slide 14: Biomass Operations
Biomass Operations we # Qs - 14
Slide 15: Existing Biomass Operations
Existing Biomass Operations Unit of Q3 Q3 YTD YTD Particulars Measurement FY14 FY13 FY14 FY13 Capacity Mw 68.50 60.50 68.50 60.50 Units Exported Mn 39.68 55.96 127.45 207.04 PLF % 34.00 47.00 36.00 57.90 Average Realisation Rs./ Unit 5.68 5.78 5.99 5.76 Specific Fuel Consumption per unit Kg/ Unit 2.
Slide 16: Existing Projects – Biomass power plants
Existing Projects – Biomass power plants Capacity Customer Name Location Fuel Blended tariff (Mw) details Q3 Q2 Q1 Q4 Q3 FY14 FY14 FY14 FY13 FY13 Kopargaon 2.0 Maharashtra Co-generation biogas Captive 3.50 3.50 3.50 3.50 3.50 Plywood wastes, Dindigul 7.5 Tamil Nadu julieflora, corn stalks and Mercha
Slide 17: Capacity Expansion Trend
Capacity Expansion Trend 2013-14 2010-11 2011-12 2012-13 BUSINESS Planned in FY 2015 (as on 8th February 2014) 179.5 317.1 339.0 WIND 416.0 494.6 40.5 60.5 60.5 BIOMASS 86.0 106.0 220.0 377.6 399.5 TOTAL 502.0 600.6 17
Slide 18: Regulatory Environment & Outlook
Regulatory Environment & Outlook
Slide 19: Regulatory Impact and other challenges
Regulatory Impact and other challenges Petition filed before TNERC on grid back down issue in Tamil Nadu last year is yet to be disposed Petition filed in Q2 FY14 before the High Court of Madras by Indian Wind Power Association (IWPA) seeking relief on exemption from grid back down for WEGS base
Slide 20: Wind Business Outlook
Wind Business Outlook Grid infrastructure is expected to improve significantly in Tamil Nadu over the next 2 years which would lead to improved PLFs from 2015-16 onwards. Kayathar line expected to be commissioned in Q1 FY15 which would help in improving PLF in 2014-15 itself. This coupled with the
Slide 21: Biomass Business Outlook
Biomass Business Outlook Rajasthan ERC process for fixation of generic tariff under preferential tariff mechanism for Hanumangarh plant would enable the unit to restart operations within 2 months at a more viable tariff Switch over to group captive mechanism in T.N. plant would bring about more
Slide 22: Leading Diversified Renewable Energy Generation Company
Leading Diversified Renewable Energy Generation Company
Orient Green Power Company — Q3 FY14 Earnings Presentation on 6ix