Powergrid Infrastructure Invesment Trust · NSE:PGINVIT
Powergrid Infrastructure Invesment Trust — POWERGRID Infrastructure Investment Trust — Q3 FY2024 Earnings Presentation
16 slides from Powergrid Infrastructure Invesment Trust's earnings presentation, Jan 30, 2024
Slide 1: POWERGRID Infrastructure Investment Trust Investor Presentation Q3 FY2024
POWERGRID POWERGRID Infrastructure Infrastructure Investment Investment Trust Trust Investor Presentation Q3 FY2024 January 30, 2024
Slide 2: Disclaimer
Disclaimer By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: ▪ This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any secur
Slide 3: Presentation Outline
Presentation Outline Trust Structure PGInvIT Overview PGInvIT at a glance Operational PGInvIT Performance Financial Distribution Project Updates Business Outlook Glossary India’s First InvIT Sponsored by a Maharatna CPSE 3
Slide 4: PGInvIT Structure
PGInvIT Structure (as on December 31, 2023) Major Unitholders FPI- 20.27% IC- 8.36% PF- 7.39% MF- 4.92% Individuals- 29.33% Others- 14.73% Notes: 2. Holds 136.5 mn units 1. Balance 26% stake eligible for acquisition, after expiry of the lock-in conditions under the TSA. FPI-Foreign Portfolio Investo
Slide 5: PGInvIT at a glance
PGInvIT at a glance India’s 1st InvIT sponsored by a CPSE…. confidence of marquee investors…. ....powered by AAA – Assets….Assurance….Advantage Sponsor & Project Manager- POWERGRID 5 Operational and Revenue Perpetual ownership with Billing and Collection a Maharatna CPSE; one of Availability-based T
Slide 6: PGInvIT - Initial Portfolio Assets
PGInvIT- Initial Portfolio Assets Description VTL PKATL PPTL PWTL PJTL Andhra Pradesh Madhya Pradesh Location Himachal Pradesh Maharashtra Madhya Pradesh and Telangana and Maharashtra No. of lines & substations 2 lines 1 line; 1 S/S 3 lines; 1 S/S 4 lines; 1 S/S 1 line Line length (ckm) 956.84 2.47
Slide 7: Operational Performance – upto Q3FY24
Operational Performance – upto Q3FY24 Consistently achieving Availability above benchmarks with POWERGRID as Project Manager to PGInvIT Routine and Preventive Avg. Availability* - Q3FY24 Avg. Availability* - upto Q3FY24 Maintenance In-house maintenance 2.00% 2.00% 1.91% 1.90% 2.00% 1.97% 2.00% 1.86%
Slide 8: Financial Performance – Q3FY24
Financial Performance – Q3FY24 Financials providing consistent, stable, visible returns for unitholders Financials (Consolidated) NDCF at SPVs NDCF at PGInvIT (Q3FY24) (₹ in mn) VTL Total Income 392.27 PKATL 213.96 • ₹ 3,293.48 Mn PPTL 781.52 >90% Operating Expenses PWTL upstreamed 876.71 • ₹ 201.07
Slide 9: Financial Performance – upto Q3FY24
Financial Performance – upto Q3FY24 Financials providing consistent, stable, visible returns for unitholders Financials (Consolidated) NDCF at SPVs NDCF at NDCF at (upto PGInvIT PGInvIT Q3FY24) (₹ in mn) VTL Total Income 1,460.41 PKATL 357.16 • ₹ 9,760.41 Mn PPTL 2,137.73 >90% Operating Expenses PWT
Slide 10: Debt Profile
Debt Profile External Debt Bank Loan Rate of Tenor Loan More than 80% Debt (Drawn in Mar-22) Interest 16 years Outstanding repayment post 10 (as on Dec 31, 2023) Linked to 3- ~Rs.5,756 mn month T-bill; years ~Rs.5,706 mn Reset on quarterly basis Interest Rate as on 31.12.2023 : 8.13% India’s First I
Slide 11: Distribution
Distribution Distributions (₹ per unit) Total Distribution since IPO 4.50 ₹ 31.50 per unit # Distribution declared for Q3FY24 Repayment Treasury 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 3.00 of SPV Debt (Exempt) • ₹ 1.97 - Interest (8.5%) (0.3%) • ₹ 0.39 - Dividend (Taxable) ₹ 3.00 • ₹ 0.16 - Dividen
Slide 12: Project Updates – RTM Project at Kala Amb Substation
Project Updates – RTM Project at Kala Amb Substation 1x125 MVAr, 420 kV Bus Reactor at Kala Amb Substation along with 2 Nos. associated bays • Project allotted to PKATL by Ministry of Power, Govt of India under Regulated Tariff Mechanism • Commissioning expected shortly • License from CERC received
Slide 13: Project Updates – RTM Project at Parli Substation
Project Updates – RTM Project at Parli Substation Recent Development post Q3FY24 1 x 400 kV line bay at 765/400 kV Parli Substation for RE Interconnection • Allotted to POWERGRID Parli Transmission Limited by CTUIL on Jan. 2, 2024 • 400 kV Line of a RE Generator getting connected at Parli • Under Re
Slide 14: Business Outlook
Business Outlook Balance 26% of PKATL, PPTL, PJTL & PWTL Acquisition ▪ Not envisaged in Fiscal 2024 Opportunities Others Targeted through debt ▪ Asset Sale by Other Developers Valuation by Independent Valuer • Limited Acquisition opportunities at present- Sector to witness more assets getting commis
Slide 15: Glossary
Glossary Term Description AUM Assets Under Management ckm circuit kilometres CPSE Central Public Sector Enterprise CTUIL Central Transmission Utility of India Ltd DOCO Date of Commercial Operation Q3FY24/Q3FY2024 Quarter ended September 30, 2023 PGInvIT POWERGRID Infrastructure Investment Trust IM I
Slide 16: Thank you
Thank you www.pginvit.in
POWERGRID Infrastructure Investment Trust — Q3 FY2024 Earnings Presentation on 6ix