Tata Power Company Limited · NSE:TATAPOWER
Tata Power — The Tata Power Company — Investor Presentation (July 2011)
31 slides from Tata Power's investor presentation, July 2011
Slide 1: Presentation Title
Presentation Title The Tata Power Company Ltd July 2011 Presentation Subtitle 1 0
Slide 2: Disclaimer
Disclaimer Certain statements made in this presentation may not be based on historical information or facts and may be “forward looking statements”, including those relating to The Tata Power Company Limited’s general business plans and strategy, its future outlook and growth prospects, and future d
Slide 3: A Tata Group Company
A Tata Group Company Promoter Revenue by business segments Listed Companies Mkt Cap ($ bn)2 Shareholding (%)1 Tata Consultancy Services 74.1 51.8 3% 4% 4% 16% Tata Motors 34.8 14.4 Tata Steel 30.6 12.4 TataPower Tata Power 31.8 6.6 Revenue FY 2010 Titan 53.5 4.5 33% c.INR 3,195bn Tata Chemicals 31.2
Slide 4: Tata Power Company – Business Overview
Tata Power Company – Business Overview Technical • Exergen 5.13% • Trombay • Geodynamics 8.76% • Hydro Investments • Sunengy 15% • Jojobera • Belgaum Financial • Haldia • TTML 7% • Wind Farm • TTSL 8% Generation • Solar SPV • Panatone 39.98% • CGPL (Mundra UMPP) 100% • Tata Comm 17% • Maithon 74% •
Slide 5: Integrated Across the Power Value Chain
Integrated Across the Power Value Chain Fuel Fuel transportation Generation Transmission Distribution • 30% equity interest in • Requirement for • 3,176 MW of • Tata power • Mumbai Indonesian coal Mundra UMPP - 6 operational capacity transmission network distribution network producers, KPC and vesse
Slide 6: Existing Presence
Existing Presence Power generation capacity (MW) Operational Thermal 2,449 MW Hydro 447 MW Wind 277 MW Transmission Powerlinks Distribution NDPL Fuel Mix– by MW IEL 240 MW Gujarat 50 MW Jojobera 428 MW Haldia 120 MW Maharashtra 127 MW Wind 9% Hydro Karnataka 50 MW 14% Mumbai Coal Mulshi 3 MW 41% Bel
Slide 7: Existing Presence across business models
Existing Presence across business models Capacity % of overall Tata Power Model (MW) capacity Returns Upside Value Drivers Projects Off-take counterparty BEST (1,000MW), Regulated Fixed return Savings on Norms + Operational Mumbai Operations TPTCL (400MW), Tata 1,927 61% returns on equity PLF incent
Slide 8: Projects Under Execution
Projects Under Execution DHPC Bhutan Maithon Tubed Mundra Mithapur Lodhivali Mandakini Thermal 5090 MW Maharashtra Wind 100 MW Solar 25 MW Tamil Nadu Hydro 126 MW Coal 13.5 MTPA 7
Slide 9: Strong Execution Pipeline
Strong Execution Pipeline Projects under construction Capacity Project (MW) Fuel Fuel Supply Agreement (FSA) Power off-take % completion COD Offtake agreement with Indocoal for PPAs have been Unit 1 by Sep -11 Mundra 4,000 Imported Coal ~83% 10.11MTPA (± 20%) signed for 3,800 MW All units by FY13 Do
Slide 10: Strong Execution Pipeline
Strong Execution Pipeline Projects under planning Capacity Project Fuel Source (MW) Status Phase I Coastal Maharashtra (Dehrand) Imported Coal 1,600 Land acquisition in progress Partially met through Mandakini coal Land acquisition in progress, main clearances obtained, environmental Naraj Marthapur
Slide 11: Capacity Addition
Capacity Addition 2183 2303 2348 2364 2785 2977 3127 5990 8516 9000 8000 7000 6000 CGPL 2400 MW 5000 DHPC 126 MW 4000 3000 2000 Maithon 1050 MW CGPL 1600 MW Wind 100 MW 1000 Lodhivali 40 MW Mithapur 25 MW 0 FY05 FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 Cumulative capacity at end of year Operational U
Slide 12: Secure Fuel Linkage
Secure Fuel Linkage Fuel Linkage for Thermal projects – Operational and Under Construction Project Fuel requirement Source of fuel Contract details Term c.3 MTPA of coal Purchase agreements PT Adaro: 1.00 MTPA (+/- 5yrs 0.25MTPA) 10yrs PT Adaro: 1.00 MTPA (+/- Till FY14 0.2MTPA) Trombay Samtan: 0.65
Slide 13: Strategic Investment in Coal
Strategic Investment in Coal Structure • 30% stake in Indonesian thermal coal companies - PT Kaltim Prima Coal Tata Power and PT Arutmin Company Ltd. (India) • Total reserves of 1,422 mm tonnes for KPC and 469 mm tonnes for Arutmin as of Jan 2011 100% 100% • CY10 coal production of approximately 60
Slide 14: Presence Across the Value Chain
Presence Across the Value Chain Transmission – Mumbai Powerlinks Transmissions Limited • TRANSMISSION Tata Power is amongst the 3 transmission licensees that bring • JV between Tata Power (51%) and Power Grid Corporation of India Ltd. (49%) power into Mumbai • Received transmission license in 2003 f
Slide 15: Funding Requirement (FY12-FY14)
Funding Requirement (FY12-FY14)* Own Funds Debt (INR 33.20 Billion) (INR 77.30 Billion) • FCCB proceeds (as on Mar 31, 2011): • Debt arranged based on following guidelines: + $ 128 mm (equivalent to INR 6 bn) • Domestic loans through domestic financial • Internal accruals: INR 30.20 bn institutions,
Slide 16: Appendix: Project Update
qe TATA Appendix: Project Update
Slide 17: Mundra UMPP (4,000MW)
Mundra UMPP (4,000MW) Capacity 4,000 MW (5 x 800 MW) Gujarat Urja Vikas Nigam (1,805 MW); Maharashtra State Electricity Distribution Company (760 MW); Customers Vidyut Vitran Nigam, Jaipur Vidyut Vitran Nigam, Vidyut Vitran Nigam, (380 MW); Electricity Board (475 MW); and Haryana Power Generatio
Slide 18: Mundra UMPP (4000MW)
Mundra UMPP (4000MW) Plant view from Skimmer Bay Sea water intake channel as seen from chimney top Plant view from Site Office Sheeting work on coal conveyor Stacker cum Reclaimer 400 KV Switchyard 17
Slide 19: Maithon Power Limited (1050MW)
Maithon Power Limited (1050MW) Capacity 1050 MW (2 X 525 MW) Damodar Valley Corporation (300 MW), Electricity Board (300 MW), West Bengal State Electricity Development Corporation Limited (150 MW) and North Power Limited (300 MW) Customers Long term (30 yr) PPAs commence on CoD for DVC & 1st A
Slide 20: Maithon Power Limited (1050MW)
Maithon Power Limited (1050MW) BTG Area Unit 1 TG floor Induced Draft Cooling Tower Crusher House Coal Bunker Switchyard Stacker / Reclaimer 19
Slide 21: Renewable Portfolio
Renewable Portfolio • 2 x 63 MW run of the river Hydro project with Tata Power holding 26% and Govt. of Bhutan holding 74% Dagacchu 126 MW • Project cost – US$200mm with debt equity of 60:40 Hydro project • PPA signed with Tata Power Trading • Commissioning expected by FY13 • Tata Power and Origin E
Slide 22: Other Key Businesses
Other Key Businesses • Division of Tata Power originated as an internal R&D unit for power electronics; designs and develops electronic devices • Fast emerging as a prime contractor to Ministry of Defense (MoD) for indigenous products Strategic Electronics Division (SED) – Completed delivery of air
Slide 23: Sustainability Initiatives
Sustainability Initiatives Care for environment Care for community Care for customers Care for people • Growth through renewables , • Principles of community • Energy clubs • Safety and health clean / green energy engagement • Customer care centers • Organizational • Efficient technologies, • Progra
Slide 24: Appendix: Industry Overview and Detailed Financial Statements
Appendix: Industry Overview and Detailed Financial Statements
Slide 25: Favorable Industry Dynamics
Favorable Industry Dynamics High GDP growth in India, power shortages, rising per-capita consumption and projected capacity addition results in a large potential for growth in the power sector India suffers from an energy deficit Low per capita consumption of electricity (2008) 900 Canada 17,053 US
Slide 26: Favorable Industry Dynamics
Favorable Industry Dynamics India currently has and is projected to have a deficit in coal with the shortfall being filled by imported coal Current installed capacity – large requirement Coal usage by sector in India for coal Others Fertilizer 16% Diesel Cement 1% Renewable 1% 2% Nuclear 10% Gas 16%
Slide 27: Standalone Results – FY11
Standalone Results – FY11 Year ended Particulars 31-Mar-11 31-Mar-10 (A) MUs MUs 1. Generation 15,325 15,946 2. Sales 16,060 15,574 (B) Rs. Crores Rs. Crores 1. a) Revenue from Power Supply and Transmission Charges 6,619.36 6,387.64 Add / (Less) : Revenue adjustments pertaining to prior years - 252.
Slide 28: Consolidated Results – FY11
Consolidated Results – FY11 Year ended Particulars 31-Mar-11 31-Mar-10 ` Crores ` Crores 1. a)Revenue 18,211.78 17,655.71 Add : Revenue adjustments pertaining to prior years - 272.94 Income to be recovered in future tariff determination (Net) 1,136.43 926.11 Net Revenue 19,348.21 18,854.76 b) Other
Slide 29: Consolidated Financial Statements
Consolidated Financial Statements INR mm FY08 FY09 FY10 INR mm FY08 FY09 FY10 Income Statement Balance Sheet Revenue Net worth 76,530 86,189 114,004 Power supply and transmission 74,051 117,924 123,653 Minority interest 8,062 9,444 12,097 Share in JVs 37,530 58,151 59,820 Secured Debt 82,081 110,507
Slide 30: Standalone Financial Statements
Standalone Financial Statements INR mm FY08 FY09 FY10 INR mm FY08 FY09 FY10 Income Statement Balance Sheet Revenue Net worth 75,192 81,099 99,988 Power supply and transmission 57,973 70,715 68,935 Minority interest – – – Contracts 737 1,217 1,461 Secured Debt 23,311 39,317 41,054 Others 449 430 587
Slide 31: Thank you
Id TATA | | Thank you
The Tata Power Company — Investor Presentation (July 2011) on 6ix