Sterling And Wilson Renewable Energy Limited · NSE:SWSOLAR

Sterling And Wilson Renewable Energy — Sterling and Wilson Solar — Q4 FY20 Earnings Presentation

19 slides from Sterling And Wilson Renewable Energy's earnings presentation, Jun 24, 2020

  1. Slide 1: Exchange filing cover letter for investor presentation

    June 24, 2020 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers Exchange Plaza Dalal Street Bandra Kurla Complex Mumbai – 400 001 Bandra (East), Mumbai – 400 051 Scrip Code: 542760 Symbol: SWSOLAR Sub.: Investor presentation on the Audited Consolidated and Standalone Fin

  2. Slide 2: Analyst Presentation – Q4 & FY20

    STERLING AND WILSON SOLAR LIMITED Analyst Presentation – Q4 & FY20 Noor Abu Dhabi - World’s Largest Single Location Solar Project 24th June 2020

  3. Slide 3: Safe Harbor

    Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Sterling and Wilson Solar Limited (the “Company”), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe for

  4. Slide 4: Contents

    Contents 1 Key Highlights 3 2 Order Book 6 3 Financials 8 4 Impact of COVID-19 on business operations 15 5 Way Forward 16 2

  5. Slide 5: Key Order Book Highlights

    Key Order Book Highlights Healthy order inflow and robust order book ✓ Order inflow of 2.9 GW (Rs 90,475 mn) for FY20 i.e. increase of 15% y-y ✓ Order inflow of 0.8 GW (Rs 29,050 mn) from 1st April 2020 until 23rd June 2020 ✓ 7.8 GW contracted O&M as at 23rd June 2020 ✓ Unexecuted Order Value (UOV)

  6. Slide 6: Key Financial Highlights for FY20

    Key Financial Highlights for FY20 ✓ Revenue impacted due to delay in commencement of few projects and COVID-19 ✓ O&M contribution to overall revenue increased to 3.3% in FY20 vs 1.1% in FY19 ✓ Gross margins were higher at 12.8% in FY20 compared to 11.9% in FY19 ✓ EBITDA for FY20 stood at Rs 3,836 mn

  7. Slide 7: Significant geographic diversification over the years

    Significant geographic diversification over the years 3 Projects 5 Projects 19 Projects 18 Projects 2 Countries 3 Countries 10 Countries 9 Countries EPC + O&M Revenue break-up by geography over the years SEA FY16 FY17 SEA FY18 FY19 FY20 Australia 13.1% 0.2% India Africa 5.9% India 30.3% 0.4% 40.9% M

  8. Slide 8: Order Inflow – Apr to March 2020 and till date

    Order Inflow – Apr to March 2020 and till date Country MW INR. Mn India 1,290 18,935 Kingdom of Saudi Arabia 1,090 44,450 Oman 33 1,750 Chile 122 6,720 United States of America 27 1,120 Australia 344 17,500 Apr to Mar 2020 (a) 2,906 90,475 Apr 2020 onwards India 380 2,800 Australia 460 26,250 Apr 20

  9. Slide 9: Unexecuted Order Value (UOV) Movement

    Unexecuted Order Value (UOV) Movement Rs mn Gross UOV as on 23rd June 2020 (before adjusting revenue post 31st March 2020) India Europe 11.0% Africa 11.5% 4.8% [EPC Revenue] 90,475 53,913 29,050 INR 143,009 Australia mn 28.7% 143,009 MENA 34.4% 1,13,959 Americas 77,397 9.7% UOV as at 31 New Orders P

  10. Slide 10: Consolidated Financial Highlights – FY20

    Consolidated Financial Highlights – FY20 Rs mn Revenue from Operations Gross margins & Gross Margin % Operating EBITDA & EBITDA Margin % 12.8% 13.1% 11.9% 6.9% 8.3% 9,850 6,882 82,404 7,150 55,753 3,836 FY20 FY19 FY20 FY19 FY20 FY19 PBT & PBT Margin Cash flow from Operations Net Working Capital 7.1%

  11. Slide 11: O&M Business – Key Highlights

    O&M Business – Key Highlights Rs mn Revenue from O&M Operations Key Highlights  O&M revenue almost doubled in FY20 GW of solar power compared to FY19 7.8 projects with active 1,835  O&M constitutes 3.3% of revenue in service contracts FY20 compared to 1.1% in FY19 936  O&M margins stood at 48% in

  12. Slide 12: Consolidated Profit & Loss – Q4 and FY20

    Consolidated Profit & Loss – Q4 and FY20 Rs mn Q4FY20 Q4FY19 FY20 FY19 Key Highlights Revenue from Operations 20,606 23,253 55,753 82,404  Revenue* lower in FY20 on account of Gross Margin 2,532 4,324 7,150 9,850 ▪ delay in commencement of a large project coupled with higher revenue in Gross Margin

  13. Slide 13: Consolidated Balance Sheet

    Consolidated Balance Sheet Rs mn Mar 20 Mar 19 Key Highlights Assets Assets Non current assets 908 672  Business continues to remain asset light Tangible assets (incl. CWIP) 430 265 Intangible assets 61 49  Increase in tangibles assets on account of right-of-use assets Rs 103 mn due to Deferred ta

  14. Slide 14: Consolidated Cashflow

    Consolidated Cashflow Rs mn FY20 FY19 Key Highlights Profit before tax 3,985 7,592 Cash flow from Operations Adjustments for noncash / other items (237) (434)  Cash flow from Operations has been positive for FY20 due to Operating profit before working capital changes 3,748 7,158 consistent level of

  15. Slide 15: Core Working Capital

    Core Working Capital Key Highlights Rs mn Mar 20 Mar 19  Working capital level as at Mar 20 declined by Rs 110 mn compared to Current Assets 26,399 23,310 Mar 19  Net working capital days increased marginally by 4 days to 12 days as at Inventories 145 131 Mar 20 due to lower turnover  Trade recei

  16. Slide 16: External Debt and Intercompany Deposit movement post listing

    External Debt and Intercompany Deposit movement post listing Rs mn Term Debt Intercompany Deposit (ICDs) Note: the above table excludes interest • Term debt reduced by Rs 17,060 mn from the date of listing till March 31, 2020 • Repayment schedule for ICDs • Repayment schedule of term debt of Rs 8,05

  17. Slide 17: Impact of COVID-19 on business operations

    Impact of COVID-19 on business operations Demand and Supply Chain Liquidity and Operations Order Inflow Financials ✓ Project sites in US, Australia ✓ Various module suppliers had ✓ No probability of bank ✓ Won an EPC contract of ~AUD and Chile were unaffected started operating at about guarantee get

  18. Slide 18: Way Forward

    Way Forward ❑ Confident of better performance in FY21 provided COVID-19 situation don’t escalate in targeted markets ❑ Execute the projects at faster pace once operations are normalised in affected markets ❑ Strong order pipeline including bids pending decision ❑ Diversification into newer markets l

  19. Slide 19: Thank You

    THANK YOU For further information, please contact: Company : Investor Relations Advisors : Sterling and Wilson Solar Limited Strategic Growth Advisors Private Limited CIN: U74999MH2017PLC292281 CIN: U74140MH2010PTC204285 Mr Vishal Jain Mr Jigar Kavaiya / Mr. Parin Narichania Head – Investor Relation

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