Torrent Power Limited · NSE:TORNTPOWER
Torrent Power — Non-Deal Roadshow (October 2024)
41 slides from Torrent Power's roadshow presentation, Oct 2, 2024
Slide 1: Exchange filing cover letter
October 02, 2024 To, To, Corporate Relationship Department Listing Department BSE Limited, National Stock Exchange of India Limited th 14 Floor, P. J. Towers, “Exchange Plaza”, C – 1, Block G Dalal Street, Fort, Bandra- Kurla Complex, Bandra (East), Mumbai-400001 Mumbai-400051 SCRIP CODE: 532779 SCR
Slide 2: Investor Presentation October 2024
Investor Presentation October 2024
Slide 3: Disclaimer
Disclaimer THIS PRESENTATION IS NOT AN OFFER TO SELL ANY SECURITIES OR A SOLICITATION TO BUY ANY SECURITIES OF TORRENT POWER LIMITED (THE “COMPANY or TPL”) OR ITS SUBSIDIARIES, ASSOCIATE, JOINT VENTURES TOGETHER WITH THE COMPANY, THE “GROUP” The material that follows is a presentation of general bac
Slide 4: Presentation Outline
Presentation Outline 01 Torrent Group Overview 02 Power Sector Overview 03 Company Overview 04 Performance Overview 05 Board of Directors 06 ESG Focus 07 Key Highlights 3
Slide 5: Torrent Group Overview
#1 Torrent Group Overview
Slide 6: Torrent Group
Torrent Group Torrent Pharmaceuticals Limited Torrent Power Limited Torrent Gas Limited ◼ Generics pharmaceutical with global ◼ One of the leading private sector ◼ Incorporated in FY19, City Gas footprint Integrated Power Utility with presence Distribution (CGD) business now has 17 across generation
Slide 7: Torrent Group …2
Torrent Group …2 ₹ 37,911 Cr ₹ 2,19,387 Cr ₹ 2,06,200 Cr 23,000+ Turnover Enterprise Value Spreading smiles Illuminating Lives Market Cap Employees Generating Trust. Distributing Opportunities. Not just healthcare… Lifecare Building pan-India city gas distribution Turnover ₹ 27,183 Cr Turnover ₹ 10,
Slide 8: Power Sector Overview
#2 Power Sector Overview 7
Slide 9: India power demand and installed capacity
Investment of ~USD 285 - 295 Bn envisaged backed by robust economic growth, industrialization and rising household income India’s per capita consumption is significantly lower in comparison to some of the major economies Generation was majorly dominated by Thermal plants Factors Influencing Power De
Slide 10: Renewable energy to drive investments in power
Global institutional investors continue to exhibit strong affinity for Indian RE market on the back of strong demand and favourable regulatory tailwinds Renewable energy to drive the investments in Power India Installed RE Capacity of 191 GW as of March 2024 Indian Renewable Energy Sector: Key Highl
Slide 11: Company Overview
#3 Company Overview 10
Slide 12: Torrent Power Mission and Vision
Torrent Power Mission and Vision Vision To be a world-class integrated energy company powering India responsibly and sustainably Mission Reducing GHG emissions through diversifying the energy mix Building a safe and secure workplace to achieve the aspiration of zero-harm Improving customer safety, s
Slide 13: One of the Leading Private Sector Integrated Power Utility
One of the Leading Private Sector Integrated Power Utility Promoter Public 53.57% 46.43% Torrent Power Limited (Market Cap: c. ₹ 90,798 Cr1) Green hydrogen / Thermal Generation Renewable Generation Distribution PSP Transmission Green Ammonia Solar: Licensed Gas based plants: (Ahmedabad, Surat, Dahej
Slide 14: Pan India Footprint with Presence in Key States
Pan India Footprint with Presence in Key States Wind Solar Gas Coal Transmission GUJARAT RAJASTHAN Wind (615 MW) Wind (24 MW) Distribution Licensee Distribution Franchisee Solar (251 MW) AMGEN (362 MW) UTTAR PRADESH Operational Capacity (MWp) Agra SUGEN & UNOSUGEN (1530 MW) DGEN (1200 MW) Transmissi
Slide 15: Fully Integrated & Distribution Driven Utility Model
Fully Integrated & Distribution Driven Utility Model Generation Transmission Distribution 77% of Sugen*, 73% of Unosugen & Sole Licensee** Sole Licensee Ahmedabad/ Gandhinagar 100% of Amgen have cost plus PPAs c.~33% of Ahmedabad + Surat Surat Sole Licensee** Sole Licensee load met in-house Fully in
Slide 16: Operational Capacity to Grow from 4.4 GW to 7.4 GW
Operational Capacity is estimated to Grow from 4.4 GW to 7.4 GW Backed by Robust Renewable Capacity Addition Installed Capacity Capacity Under Development Solar Wind - C&I 403 103 Solar - C&I 430 Solar Wind 1,258 921 4,416 MWp 3,027 MWp Gas 2,730 Wind Coal 1,236 362 Segmental Revenue in FY24 Segment
Slide 17: Snapshot of Operating Thermal Assets
#1: Snapshot of Operating Thermal Assets Sugen Unosugen Capacity Capacity Plant Type Location COD Fuel Plant Type Location COD Fuel (MW) (MW) 1,147.5 Gas-based Surat, August Domestic 382.5 Gas-based Surat, April Domestic CCPP Gujarat 2009 Gas & CCPP Gujarat 2013 Gas & R-LNG (3 x 382.5) (1 x 382.5) I
Slide 18: Snapshot of Licensed Distribution Assets
#2: Snapshot of Licensed Distribution Assets Ahmedabad / Gandhinagar Surat Customer Base (FY24) Peak Demand (FY24) Licensed Area Customer Base (FY24) Peak Demand (FY24) Licensed Area ~ 356 sq. km. >20 lakh 1,834 MW ~ 52 sq. km. >6 lakh 757 MW Highlights Highlights ✓ Distribution loss of 4.16% (FY24)
Slide 19: Licensed Distribution – Regulatory Framework
#2: Licensed Distribution – Regulatory Framework Ahmedabad/ DNH & DD^ Surat Dahej Gandhinagar Power Distribution Gujarat Electricity Gujarat Electricity Regulatory Gujarat Electricity Regulatory Joint Electricity Regulatory Regulator Regulatory Commission Commission (GERC) Commission (GERC) Commissi
Slide 20: Snapshot of Franchisee Distribution Assets
#3: Snapshot of Franchisee Distribution Assets Bhiwandi Agra Licensed Area Peak Demand (FY24) License validity Licensed Area Peak Demand (FY24) License validity ~ 721 609 25th Jan 2027 ~ 221 505 31st March sq. km. MVA [The license validity for the Bhiwandi area can be sq. km. MVA 2030 extended by fi
Slide 21: Franchised Distribution – Business Model
#3: Franchised Distribution – Business Model Key Differences Franchisee v/s Distribution License Revenue and Contribution model Operates under Distribution Franchise Agreement signed with the licensee under the Input- Revenues (from based distribution franchise (IBDF) approach Respective Actual sale
Slide 22: Transmission - Current Operations and Future Projects
#4: Transmission - Current Operations and Future Projects Existing Transmission Portfolio 400 kV Double-Circuit Transmission Lines: 355 km & 220 kV Double-Circuit Transmission Lines: 128 km Operations are conducted through Torrent Power Grid Limited (TPGL), a subsidiary wherein Torrent holds 74%
Slide 23: Target to Increase Renewable Portfolio to 4.4 GW
#5: Target to Increase Renewable Portfolio to 4.4 GW Renewable Energy Projects in Pipeline Contracted Capacity Under Expected Tariff in Project Technology Capacity Installation Off-taker Project Cost Remarks Rs/Unit (MW) (MW*) (Rs in Cr) TPL-D 300 420 2.22^ Own Discom 1,737 87.7 MWp commissioned, ba
Slide 24: Performance Overview
#4 Performance Overview 23
Slide 25: Overview of Operations – Thermal Power
#1: Overview of Operations – Thermal Power Thermal PLF % (Annual) 19-20 20-21 21-22 22-23 23-24 Q1-25 96% 88% 91% 77% 73% 60% 60% 60% 60% 58% 59% 60% 51% 44% 44% 41% 41% 38% 37% 40% 31% 33% 15% 16% 7% 10% 9% 2% 0% 0% AMGEN SUGEN UNOSUGEN DGEN THERMAL • In FY23, geo-political and other factors kept i
Slide 26: Sales Growth Trend – Power Distribution
#2: Sales Growth Trend – Power Distribution Sales (MUs) – Licensed Distribution Key Operational Excellence Achieved 22,312 23,361 Distribution loss of 2.69%*, amongst the lowest in the country 11,680 24 X 7 power supply in licensed areas FY22 FY23 FY24 Sales (MUs) – Franchised Distribution Power ava
Slide 27: Overview of Operations – Power Distribution
#3: Overview of Operations – Power Distribution Distribution loss (%) Licensed Distribution 6.0% 5.0% 4.2% 3.7% 4.2% 3.4% 4.1% 3.4% 2.8% 3.2% 0.5% 0.5% 0.5% 0.3% 0.4% 19-20 20-21 21-22 22-23 23-24 A'bad Surat Dahej Distribution loss (%) Franchised Distribution 44.9% 40.5% 33.5% 30.0% 12.5% 16.2% 12.
Slide 28: Significant Ramp Up in Operations Over Last 5 Years
Significant Ramp Up in Operations Over Last 5 years Revenues from Operations (₹ Crore) EBIDTA (₹ Crore) 25,694 27,183 5,141 4,903 3,734 3,607 3,826 13,641 14,257 12,173 9,034 1,934 2019-20 2020-21 2021-22 2022-23 2023-24 Q1 FY25 2019-20 2020-21 2021-22 2022-23 2023-24 Q1 FY25 TCI* (₹ Crore) Net Wort
Slide 29: Comfortable Leverage Provides Headroom for Green Energy
Comfortable Leverage Provides Headroom to Capitalise on Opportunities in Green Energy Space Net Debt / EBITDA Net Debt Equity Ratio 2.24 2.25 2.18 0.80 0.80 0.82 0.80 0.64 1.98 1.97 19-20 20-21 21-22 22-23 23-24 19-20 20-21 21-22 22-23 23-24 Return on Capital Employed Return on Networth 19.1% 14.0%
Slide 30: Board of Directors
Board of Directors torrent POWER
Slide 31: Strategic Oversight and Leadership by a Strong Board
Strategic Oversight and Leadership by a Strong Board Sudhir Mehta Chairman Emeritus Samir Mehta Jinal Mehta Usha Sangwan Radhika Haribhakti Ketan Dalal Vice Chairman & Managing Chairperson Director Independent Director Independent Director Independent Director Apurva Diwanji Sunil Mathur Varun Mehta
Slide 32: Board Committee Composition
BOARD COMMITTEE COMPOSITION 67% NEDs on board COMMITTEES IN PLACE (CHAIRED BY IDs): • Audit Committee (100% IDs) • Nomination & Remuneration Committee (100% IDs) BOARD COMPOSITION • CSR and Sustainability Committee (100% IDs) • Risk Management Committee (75% IDs) 22% 56% IDs women directors on board
Slide 33: ESG Focus
6) ESG Focus torrent POWER
Slide 34: ESG: Environmental, Social & Governance
ESG: Environmental, Social & Governance Company recognizes the value of the environment to the community and future generations and is committed to manage its businesses as a responsible Corporate Citizen. • >95% generation capacity sourcing cleaner • Use of recycled papers for energy bills & • ISO
Slide 35: ESG: Water Consumption and Air Emissions
ESG: Environmental, Social & Governance Specific Water Consumption of Coal Based Plants (m3/mWh) Air Emission from Coal Based Generation (kg/mWh) 3.50 3.50 3.50 3.50 8.93 SOx 7.48 3.50 6.28 3.20 3.05 2.87 3.18 NOx 2.53 2.23 0.29 PM 0.26 FY21 FY22 FY23 FY24 0.27 Normative Actual FY22 FY23 FY24 Specif
Slide 36: ESG: Emission Intensity
ESG: Environmental, Social & Governance Emission Intensity (tCO2 eq/GJ) FY23 0.21 FY24 0.17 The emission intensity of our operations in FY24 has seen a significant reduction of ~18% in FY24, compared to FY23 due to increased generation from cleaner fuels (i.e. gas and renewables). 35
Slide 37: ESG: Social Practices: Thrust Areas For CSR Activities
ESG: Social Practices: Thrust Areas For CSR Activities Going beyond statutory requirement (i.e. >2%^), Company contributes to various initiatives across the areas of Healthcare, Education, Ecology, Arts, Culture and Social well-being as part of its CSR activities. HEALTHCARE, SANITATION & HYGINE • R
Slide 38: ESG: Social Practices
ESG: Social Practices NURTURING PEOPLE 8,100+ Permanent / 2,184 Women workforce Company Policies to promote Human Rights: 13,500+ contractual & 48 differently abled Employees workforce ◼ Policy on Protection of Women against Sexual Harassment at Workplace ◼ Conviction for Safety Policy Key statistic
Slide 39: Key Highlights
#7 Key Highlights 38
Slide 40: Key Highlights
Key Highlights One of the leading Indian conglomerate with significant experience in multiple businesses such as Pharma, Power and CGD Quality equipment sourced from major OEMs for the projects #1 Competitive advantage through direct LNG imports compared Being a part of Torrent Group enables
Slide 41: Thank You
THANK YOU 40