Tata Power Company Limited · NSE:TATAPOWER
Tata Power — The Tata Power Company — Q3 FY22 Earnings Presentation
40 slides from Tata Power's earnings presentation, Feb 9, 2022
Slide 1: Financial Results – Q3 FY22
The Tata Power Company Limited Financial Results – Q3 FY22 9th February 2022 1
Slide 2: Disclaimer
Disclaimer This document does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any
Slide 3: Q3 FY22 Business Highlights
Q3 FY22 Business Highlights
Slide 4: Q3 FY22 Highlights
Q3 FY22 Highlights ➢ Tata Power Solar won total 320 MW of Utility scale EPC orders including India’s largest Solar and Battery Storage Project of 100 MW in Chhattisgarh ➢ LoA received for development of 300 MW of hybrid wind and solar project from MSEDCL ➢ 4 GW of Cell & Module manufacturing capacit
Slide 5: Leading the change towards a carbon neutral future
Leading the change towards a carbon neutral future
Slide 6: Solar Rooftop - Quarter Highlights
Solar Rooftop - Quarter Highlights Revenue (₹ crore) Order Book at 370 MW worth ₹ 1,050 crore 378 ➢ More than ₹ 375 crore orders won this quarter leading to YoY and 298 >2X QoQ revenue growth and higher order book Revenue growth ➢ Strong growth from Commercial & Industrial Customers 172 over Q3 ➢ In
Slide 7: Solar Pumps – Quarter Highlights
Solar Pumps – Quarter Highlights Revenue (₹ crore) ➢ New orders in Q3 was slow as the empanelment under PM Kusum Scheme 2 was pending due to litigations. 205 ➢ The Scheme 2 empanelment process started in December - Tata Power in various stages of the process with 14 states to get empaneled and start
Slide 8: Solar EPC – Partner of choice for complex utility projects
Solar EPC – Partner of choice for complex utility projects WELL DIVERSIFIED, GROWING ORDER BOOK AC Capacity Customer (MW) Tata Power Group 1,310 NTPC 840 Brookfield 300 SECI 140 GSECL 95 Vibrant 45 NHPC 40 Total Capacity as on 31st Dec 21 2,770 Order Book as on 31st Dec 21 (₹ Cr) 10,026 ➢ 320 MW of
Slide 9: Tata Power EZ Charge
Tata Power EZ Charge Business Highlights EV Charging Platform Statistics 2800home 2,800 homechargers chargersinstalled installedininQ3. Q3. 41.9K+ Registered Users 3.3+ Million mins of Charging Cumulativeinstallation Cumulative installation– till 7,767date – 7,767 0.83+ MUs of Charging ~7+ Million K
Slide 10: Odisha Discoms: Despite Covid, losses coming down
Odisha Discoms: Despite Covid, losses coming down ▪ Grow consumer base ▪ Replacement of defective meters ▪ Digital payment avenues though drives ▪ Automation of sub-stations with with discounts ▪ Target HT consumer base remote monitoring from PSCC ▪ Collection & disconnection increase ▪ Condition ba
Slide 11: Q3 FY22 Financial Highlights
Q3 FY22 Financial Highlights
Slide 12: Q3 FY22 Financial Highlights
Q3 FY22 Financial Highlights Strong all round operational performance; despite high coal prices for CGPL, PAT up by 60% YoY Underlying EBITDA (Including Reported EBITDA PAT (before exceptional items) Share of JVs & Associates) Q2 FY22 Q3 FY22 Q3 FY21 Q2 FY22 Q3 FY22 Q3 FY21 Q2 FY22 Q3 FY22 Q3 FY21 1
Slide 13: Comfortable debt position for sustainable growth
Comfortable debt position for sustainable growth NET DEBT MAINTAINED AT Q2 LEVELS BUS AS USUAL DEBT DOWN WITH ROBUST CF FROM OPERATIONS 36,870 39,459 39,536 Q3 FY21 Q2 FY22 Q3 FY22 SUSTAINABLE DEBT PROFILE 1.58 Net Debt to Equity v 1.51 in Q3 21 Net Debt to Underlying 4.12 EBITDA (on rolling 12 mont
Slide 14: Installed Generation Capacity as on 31st Dec
Installed Generation Capacity as on 31st Dec 21 GENERATION PORTFOLIO ~ 32% CLEAN & GREEN Clean and Green Break-up Clean & Waste Heat Business Model MW % Thermal Green Hydro Recovery / Wind Solar Total BFG Captive 429 3.9% 174 255 - 255 - - Merchant 246 2.2% - 246 126 120 - - PPA/ Fixed Tariff (Bid/
Slide 15: T&D Portfolio and RE Pipeline as on 31st Dec
T&D Portfolio and RE Pipeline as on 31st Dec 21 CURRENT T&D PORTFOLIO LARGE SOLAR PROJECT DEVELOPMENT PIPELINE Transmission Business Model CKM Customer State Capacity (MW) UPNEDA UP 100 Mumbai Transmission Regulated 1,211 Dholera GJ 250 Powerlinks (JV) Regulated 2,328 Dholera - II GJ 50 Total 3,539
Slide 16: Q3 Operational Highlights
Q3 Operational Highlights Generation - Availability Transmission - Availability 100 100 98 98 98 98 100 100 100 89 91 93 100 75 Powerlinks 100 100 40 28 100 MO - 100 Transmission Thermal (excl. CGPL MO - Hydro Wind Solar 100 CGPL) Plant Load or Capacity Utilization factor AT&C Losses - Distribution
Slide 17: Financial Results
TATA POWER Financial Results 17
Slide 18: Consolidated Performance – Q3 FY22
Consolidated Performance – Q3 FY22 Op Income EBITDA^^ PAT Particulars Q3 FY22 Q3 FY21 Q3 FY22 Q3 FY21 Q3 FY22 Q3 FY21 Consolidated before exceptional items 11,015 7,756 1,841 1,997 552 346 Standalone & Key Subsidiaries Tata Power (Standalone) 2,159 1,655 611 1,197 49 580 CGPL (Mundra UMPP) 992 1,692
Slide 19: Consolidated Performance – YTD FY22
Consolidated Performance – YTD FY22 Op Income EBITDA^^ PAT Particulars YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 FY22 FY21 FY22 FY21 FY22 FY21 Consolidated before exceptional items 30,491 22,860 5,938 6,310 1,523 985 Standalone & Key Subsidiaries Tata Power (Standalone) 5,844 4,777 2,630 2,643 603 8
Slide 20: Share of JVs and Associates
Share of JVs and Associates Op Income EBITDA PAT Op Income EBITDA PAT Particulars % Share YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 YTD Q3 Q3 FY22 Q3 FY21 Q3 FY22 Q3 FY21 Q3 FY22 Q3 FY21 FY22 FY21 FY22 FY21 FY22 FY21 Coal Companies (KPC, 30% / 3,473 1,828 1,366 290 623 23 9,113 5,193 3,132 921 1,423 154 BS
Slide 21: Underlying Consolidated EBITDA
Underlying Consolidated EBITDA Particulars Q3 FY22 Q3 FY21 Qtr Var YTD Q3 FY22 YTD Q3 FY21 YTD Var Reported EBITDA 1,841 1,997 (156) 5,938 6,310 (371) Less: PAT of JV Companies 658 152 506 1,647 525 1,122 KPC & BSSR 623 23 600 1,423 154 1,268 Coal Infra 47 59 (12) 131 148 (16) Powerlinks 13 12 1 34
Slide 22: Tata Power (Consolidated) Financial Performance
Tata Power (Consolidated) Financial Performance Particulars Q3 FY22 Q3 FY21 Qtr Var YTD Q3 FY22 YTD Q3 FY21 YTD Var Quarter Variance Remarks Acquisition of Odisha Discoms & higher EPC & rooftop execution in Operating Income 11,015 7,756 3,259 30,491 22,860 7,631 TPSSL Operating Expenses 9,279 5,864
Slide 23: Tata Power (Standalone) Financial Performance
Tata Power (Standalone) Financial Performance Particulars Q3 FY22 Q3 FY21 Qtr Var YTD Q3 FY22 YTD Q3 FY21 YTD Var Quarter Variance Remarks Operating Income 2,159 1,655 504 5,844 4,777 1,068 Increase in fuel cost Operating Expenses 1,603 1,158 (445) 4,222 3,156 (1,066) Increase in fuel cost Operating
Slide 24: CGPL : Key Highlights
CGPL : Key Highlights Particulars Q3 FY22 Q3 FY21 Qtr Var YTD Q3 FY22 YTD Q3 FY21 YTD Var Quarter Variance Remark Generation (MUs) 2,824 6,330 (3,506) 6,849 19,936 (13,088) Sales (MU) 2,589 5,848 (3,258) 6,317 18,401 (12,084) Availability (%) 40% 75% (35%) 29% 81% (51%) Only 2 units have been operat
Slide 25: Coal Business (KPC): Key highlights
Coal Business (KPC): Key highlights Coal Company - KPC Q3 FY 22 Q2 FY22 Q1 FY 22 Q4 FY 21 Q3 FY21 Coal Mined (MT) 12.7 14.4 14.9 14.3 15.3 Coal Sold (MT) 13.1 14.3 15.5 14.1 16.0 HBA 178.8 132.1 92.3 82.7 55.5 FOB Revenue (USD/T) 99.4 84.2 65.5 59.4 43.8 Royalty (USD/T) 14.4 11.9 9.0 8.8 6.1 Net Rev
Slide 26: CGPL and Coal companies – Integrated performance
CGPL and Coal companies – Integrated performance YTD Q3 YTD Q3 CGPL Q3 FY22 Q3 FY21 Qtr Var YTD Var FY22 FY21 Revenue 992 1,692 (700) 2,184 5,337 (3,153) EBITDA (117) 302 (419) (180) 884 (1,064) PAT (458) (95) (363) (1,167) (361) (806) Coal & Infrastructure YTD Q3 YTD Q3 Q3 FY22 Q3 FY21 Qtr Var YTD
Slide 27: Maithon Power Limited - Highlights
Maithon Power Limited - Highlights Particulars Q3 FY22 Q3 FY21 Qtr Var YTD Q3 FY22 YTD Q3 FY21 YTD Var Quarter Variance Remarks Generation (MUs) 1,863 1,760 103 5,946 4,892 1,054 Higher demand Sales (MUs) 1,756 1,499 257 5,702 4,415 1,287 Availability (%) (Plant) 98% 93% 5% 98% 96% 2% PLF % 80% 76%
Slide 28: Prayagraj Power Generation Co Ltd. - Highlights
Prayagraj Power Generation Co Ltd. - Highlights Particulars Q3 FY22 Q3 FY21 Qtr Var YTD Q3 FY22 YTD Q3 FY21 YTD Var Quarter Variance Remarks Generation (MUs) 2,986 2,883 103 9,005 7,929 1,076 Sales (MU) 2,812 2,706 106 8,480 7,434 1,046 Availability (%) 86.9% 79.6% 7.2% 83.9% 82.9% 1.0% PLF % 68.3%
Slide 29: Tata Power Delhi Distribution Ltd - Highlights
Tata Power Delhi Distribution Ltd - Highlights Particulars Q3 FY22 Q3 FY21 Qtr Var YTD Q3 FY22 YTD Q3 FY21 YTD Var Quarter Variance Remarks Purchase (Mus) 2,081 1,996 (85) 7,389 6,991 (398) Sales (Mus) 1,936 1,867 68 6,896 6,500 396 Revenue Per Unit 10.14 9.26 0.88 8.74 8.49 0.24 PPC Per Unit 7.10 6
Slide 30: Odisha Discoms – Highlights
Odisha Discoms – Highlights Q3 Highlights TPCODL TPSODL TPWODL TPNODL Purchase (Mus) 2,033 943 2,465 1,256 Sales (Mus) 1,618 695 2,042 1,090 Revenue per unit 6.17 5.78 5.70 5.82 Power Cost per unit 3.07 2.32 3.56 3.44 Actual Technical losses (%) 20.4% 26.3% 17.1% 13.2% Actual AT&C losses (%) 20.2% 3
Slide 31: Tata Power Renewable Energy Ltd (Conso. excluding WREL) – Highlights
Tata Power Renewable Energy Ltd (Conso. excluding WREL) – Highlights Particulars Q3 FY22 Q3 FY21 Qtr Var YTD Q3 FY22 YTD Q3 FY21 YTD Var Quarter Variance Remarks Capacity - Total (MW) 1,751 1,469 282 1,751 1,469 282 Capacity - Wind (MW) 655 655 - 655 655 - Capacity - Solar (MW) 1,096 815 282 1,096 8
Slide 32: Walwhan Renewable Energy Ltd - Highlights
Walwhan Renewable Energy Ltd - Highlights Particulars Q3 FY22 Q3 FY21 Qtr Var YTD Q3 FY22 YTD Q3 FY21 YTD Var Quarter Variance Remarks Capacity - Total (MW) 1,010 1,010 - 1,010 1,010 - Capacity - Wind (MW) 146 146 - 146 146 - Capacity - Solar (MW) 864 864 - 864 864 - Generation (MUs) 360 378 (19) 1,
Slide 33: Tata Power Solar Systems Limited – Highlights
Tata Power Solar Systems Limited – Highlights Particulars Q3 FY22 Q3 FY21 Qtr Var YTD Q3 FY22 YTD Q3 FY21 YTD Var Quarter Variance Remarks Operating Income 1,561 923 638 5,025 2,342 2,683 Higher revenue from EPC and rooftop business Operating expenses 1,411 853 (558) 4,740 2,208 (2,532) Operating pr
Slide 34: Renewables – Consolidated View for Q3 FY22
Renewables – Consolidated View for Q3 FY22 Q3 FY22 RE Conso (with Elimination (Note Generation Elimination EPC) Key Indicators TPREL^ WREL Others# TPSSL 1) (Conso w/o (Note 2) After EPC) Elimination Capacity (MW) 1,751 1,010 195 - 2,956 - - 2,956 Revenue 275 260 20 - 556 1,562 (295) 1,823 EBITDA 230
Slide 35: Renewables – Consolidated View for YTD FY22
Renewables – Consolidated View for YTD FY22 YTD Q3 FY22 YTD Q3 FY21 Conso Conso Conso Conso Renewables (with Renewables (with Key Indicators Renewables Renewables EPC) EPC) (without EPC) (without EPC) After Elimination After Elimination Capacity (MW) 2,956 2,956 2,667 2,667 Revenue 1,978 4,904 1,861
Slide 36: Regulated - Equity and Assets
Regulated - Equity and Assets Particulars Q3 FY 22 Q3 FY 21 Regulated Equity Mumbai Operation 4,243 4,042 Jojobera 522 522 Tata Power Delhi Distribution (100%) 1,769 1,633 TP Central Odisha Dist Ltd (100%) 300 300 TP Southern Odisha Dist Ltd (100%) 200 - TP Western Odisha Dist Ltd (100%) 300 - TP No
Slide 37: Leverage Management - Debt Profile
Leverage Management - Debt Profile CONSOLIDATED PARTICULARS Q3 FY22 Q2 FY22 Q3 FY21 Rupee Forex Total Total Total Long term 27,606 740 28,346 26,900 29,081 Short term 9,381 1,457 10,838 11,337 9,360 Current Maturity of LT 5,804 2,375 8,179 7,275 4,012 Total Debt 42,792 4,571 47,363 45,512 42,454 Les
Slide 38: Debt Profile
Debt Profile Total Gross Debt (LT + ST) Dec / (Inc) Mar / (Inc) Company 31st Dec 30th Sep 31st Dec Quarterly movement Remarks -3 - 12 2021 2021 2020 months months CGPL 4,853 4,528 (325) 4,079 (774) Coal SPVs 4,571 4,084 (487) 3,982 (589) Increase in related party loans TPDDL 2,936 2,805 (132) 3,154
Slide 39: Latest Tata Power resources uploaded on website
Latest Tata Power resources uploaded on website Sr. No. Resources Link 1. Tata Power ESG Profile https://esg.churchgatepartners.com/login/CompanyProfile?id=3 10038003100240024004100530048004F004B0041004E0041004 E00590041004100560041004E004900410053004800570049004 E00490024002400 2. Tata Power Integr
Slide 40: Thank You!
Thank You! Website: www.tatapower.com Investor Relations Team: Mr. Soundararajan Kasturi Mr. Rahul Shah Chief – Treasury & Investor Relations Head – Investor Relations Email: kasturis@tatapower.com Email: rahuls@tatapower.com M: +91 82912 04022 M: +91 91370 34304 40
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