Jsw Energy Limited · NSE:JSWENERGY
Jsw Energy — Q2 FY2019 Earnings Presentation
21 slides from Jsw Energy's earnings presentation, Nov 2, 2018
Slide 1: JSW Energy Limited Q2 FY2019 Results Presentation
JSW Energy Limited Q2 FY2019 Results Presentation November 2, 2018
Slide 2: Key Highlights for Q2FY19 (1/2)
Key Highlights for Q2FY19 (1/2) • Long Term PPA proportion for the Company improved to 80.4% in Q2FY19 from ~75% in Q1FY19, after securing additional 230MW and 6.5MW PPAs within the JSW Group at Vijayanagar and Ratnagiri plants respectively • The Company achieved higher PLFs in Q2FY19 across all loc
Slide 3: Key Highlights for Q2FY19 (2/2)
Key Highlights for Q2FY19 (2/2) • The Company was conferred with “Golden Peacock Award for Sustainability” by Institute of Directors • The Company’s Vijayanagar plant was conferred with “Safety Systems Excellence Award” by FICCI • The Company’s Ratnagiri plant was recognized as “Energy Efficient Uni
Slide 4: Agenda: Business Environment
Agenda Business Environment Operational and Financial Performance 4
Slide 5: Demand Growth improves to 6.9% in Q2FY19
Demand Growth improves to 6.9% in Q2FY19 H1 FY19 Q2 FY19* Q1 FY19 Region YoY % YoY % YoY % Remarks (MUs) (MUs) (MUs) Driven by Rajasthan (Q2: 12%, H1: 13% North 2,11,676 4.1% 1,10,255 2.6% 1,01,421 5.8% YoY growth) West 1,92,292 6.9% 92,674 9.0% 99,617 5.1% Gujarat (Q2: 15%, H1: 10%) South 1,67,169
Slide 6: Generation and PLF trends
Generation and PLF trends Gross H1 FY19 Q2 FY19 Q1 FY19 YoY % YoY % YoY % Remarks Generation (MUs) (MUs) (MUs) Thermal 5,29,431 4.0% 2,52,869 2.2% 2,76,562 5.7% • Strong generation growth of 7.4% in Q2FY19, Hydro 83,377 2.4% 51,802 14.8% 31,575 -12.9% primarily led by RE segment (+36.7% YoY) RE 73,3
Slide 7: Installed Capacity
Installed Capacity Sector-wise Installed Capacity – 346.1 GW Segment-wise Installed Capacity – 346.1 GW (As on September 30, 2018) (As on September 30, 2018) Total: 72.0 GW # Total: 84.6 GW # Total: 103.0 GW # RES + 1,346 MW * 20.8% Central - 802 MW * State 24.5% 29.8% Hydro Total: 45.5 GW # 13.1% T
Slide 8: Effective Capacity addition lags Demand Growth
Effective Capacity addition lags Demand Growth Mode-wise Installed Capacity (GW) Addition vs Effective Addition* (GW) 346 between Sep-15 and Sep-18 280 66 222 194 28 23 34 20 25 42 45 16 10 6 7 24 35 4 24 9 13 1 1 1 3 2 1 2 2 4 4 5 2 1 Thermal Nuclear Hydro Wind Solar Other RES Total Thermal Nuclear
Slide 9: Average Merchant Tariff peaks in September'18
Average Merchant Tariff peaks in September’18 Merchant Tariff Trend Particulars Q2 FY19 Q1 FY19 Q2 FY18 YoY % QoQ % 5.00 Average Monthly MCP (Rs/kWh) 4.50 Merchant Volume 13,849 13,959 12,128 14.2% -0.8% 4.00 [IEX+PXIL, (MUs)] 3.50 3.00 2.50 Particular H1 FY19 FY18 FY17 FY16 FY15 2.00 Average mercha
Slide 10: Indian Economy and Thermal Coal Prices
Indian Economy and Thermal Coal Prices Industrial production (IIP) growth for Aug-18 stood at 4.3%YoY led Thermal coal prices remain elevated , while INR depreciates by manufacturing and electricity sectors. by 9% in Q2FY19 (YoY) API 4 Coal (monthly avg.) USD/INR (monthly avg.) Continuing global
Slide 11: Agenda: Operational and Financial Performance
Agenda Business Environment Operational and Financial Performance 11
Slide 12: Power Generation
Power Generation Q2 Plant-wise Net Generation 9% H1 Plant-wise Net Generation 2% 14% 23% 6,117 12,517 11% 12,756 6,670 4% 4% 3,591 4,118 4,775 3,182 19% 15% 7% 2,675 2,566 2,917 2,875 1,865 1,950 1,430 1,531 1,361 905 1,559 760 Vijayanagar Ratnagiri Barmer Hydro Total Vijayanagar Ratnagiri Barmer Hy
Slide 13: Healthy improvement in the LT PPA mix
Healthy improvement in the LT PPA mix in MW 3800 3,578.5MW 236.5MW 80.4% * 3600 3,342MW 3400 75.1% * 3200 3000 2800 Q1FY19 Addition in Q2FY19 Q2FY19 230MW and 6.5MW PPAs tied within the JSW Group at Vijayanagar and Ratnagiri plants in Q2FY19 respectively 13 * Proportion of long term PPA to total cap
Slide 14: Consolidated Financial Results
Consolidated Financial Results ` Crore Q2 FY19 Q2 FY18 Particulars H1 FY19 H1 FY18 2,568 2,220 Turnover 4,996 4,554 998 1,053 EBITDA 1,842 2,029 39% 47% EBITDA Margin(%) 37% 45% 308 391 Interest 621 792 293 245 Depreciation 583 488 397 417 Profit Before Tax 637 749 316 297 Profit After Tax 545 514 6
Slide 15: Net Debt reduction of ₹3,402 crore over last 6 quarters
Net Debt reduction of `3,402 crore over last 6 quarters in ` crore 14,500 ` 14,384 cr JPVL related liability ` 1000 cr (Non-funded) 13,750 ` 13,686 cr ` 13,384 cr Net Debt 13,000 Reduction of ` 12,679 cr ` 3,402 cr 12,250 ` 11,896 cr 11,500 ` 11,278 cr ` 11,382 cr ` 10,982 cr 10,750 10,000 Mar 31, J
Slide 16: Amongst the Strongest Balance Sheet in the Power Sector
Amongst the Strongest Balance Sheet in the Power Sector Particulars, as at Sept 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Net Worth (` Crore) 12,231 11,581 11,110 11,469 11,259 10,696 10,368 Net Debt (` Crore) 10,982 11,382 11,278 11,896 12,679 13,686 13,
Slide 17: Continuous improvement in Credit Profile
Continuous improvement in Credit Profile High AA- JSW Energy Ltd * Credit Profile A+ JSW Hydro Energy Ltd Raj WestPower Ltd Jaigad Power Transco Ltd A Low H1 FY17 H2 FY17 H1 FY18 H2 FY18 H1 FY19 H2 FY19 Timeline Continuous improvement in Credit Profile of the Company and its key Subsidiaries as refl
Slide 18: Entity-wise Summary Financial Performance
Entity-wise Summary Financial Performance ` Crore Q2 FY19 Q2 FY18 Income from Operations H1 FY19 H1 FY18 1,199 939 Standalone 2,510 2,061 640 532 RWPL 1,278 1,069 542 518 Hydro 908 1,031 16 22 JPTL 38 45 2,431 2,049 Consolidated * 4,791 4,281 * After inter-company adjustments and eliminations 18
Slide 19: Entity-wise Summary Financial Performance
Entity-wise Summary Financial Performance ` Crore Q2 FY19 Q2 FY18 EBITDA H1 FY19 H1 FY18 309 349 Standalone 568 656 224 223 RWPL 489 449 498 502 Hydro 835 1,001 16 22 JPTL 37 44 998 1,053 Consolidated * 1,842 2,029 * After inter-company adjustments and eliminations 19
Slide 20: Forward Looking and Cautionary Statement
Forward Looking and Cautionary Statement This presentation has been prepared by JSW Energy Limited (the “Company”) based upon information available in the public domain solely for information purposes without regard to any specific objectives, financial situations or informational needs of any parti
Slide 21: Thank you
Thank you 21