Adani Power Limited · NSE:ADANIPOWER
Adani Power — Investor Presentation (August 2024)
30 slides from Adani Power's investor presentation, Aug 7, 2024
Slide 1: Exchange filing cover letter for investor presentation
August 7, 2024 To, BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Bandra (E) Mumbai – 400 001. Mumbai – 400 051. Scrip Code: 533096 Scrip Code: ADANIPOWER Dear Sir(s), Sub.: Investor Presentation for interaction with Investors dt.
Slide 2: Adani Power Limited Investor Meet Presentation
Adani Power Limited Investor Meet Presentation August 2024
Slide 3: 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 general business plans and strategy of Adani Power Limited (“APL”) and its subsidiaries , associates, and joint ventures (c
Slide 4: Table of Contents
Table of Contents 1 About Adani Portfolio 2 About Adani Power Limited (APL) 3 APL: Strategic Advantages 4 APL: Performance Highlights 5 APL: ESG Practice 6 APL: Investment Case 3
Slide 5: About Adani Portfolio
1 About Adani Portfolio STRICTLY CONFIDENTIAL
Slide 6: Adani: A World Class Infrastructure & Utility Portfolio
Adani: A World Class Infrastructure & Utility Portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C Materials, Metal Direct to Incubator Energy & Utility Transport & Logistics & Mining consumer (100%) (100%) (74.72%) (100%) (50.00%) (100%) (100%) ANIL AdaniConneX3
Slide 7: Adani Portfolio: Decades long track record of industry best growth with national footprint
Adani Portfolio: Decades long track record of industry best growth with national footprint Secular growth with world leading efficiency National footprint with deep coverage Growth 3x 6 Growth 4x 6 EBITDA 71% 1,2 EBITDA 92% 1,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL Adani’s Core Infra. Platform –
Slide 8: Adani: Repeatable, robust & proven transformative model of investment
Adani: Repeatable, robust & proven transformative model of investment DEVELOPMENT OPERATIONS CONSUMERS 1 New C.E.O. Adani Infra (India) Limited (AIIL) Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Construction Operation Inspired Purpose & Value Creation AC
Slide 9: About Adani Power Limited (APL)
2 About Adani Power Limited (APL) STRICTLY CONFIDENTIAL
Slide 10: Rapidly growing power demand calls for more thermal power with increasing renewables penetration
Rapidly growing power demand calls for more thermal power with increasing renewables penetration 4500 700 Power Demand Growth Projections 4000 3776 Aggregate power generation capacity to grow from 445 600 3500 GW presently to 900 GW by FY32 3095 500 3000 2474 2500 400 Non-fossil generation capacity
Slide 11: APL: Operating Portfolio Overview: Strategically located, diversified fleet
APL: Operating Portfolio Overview: Strategically located, diversified fleet Near-Pithead Coastal Hinterland 8,070 MW 5,820 MW 2,920 MW • Tiroda, Maharashtra : 3,300 MW • Raipur, Chhattisgarh : 1,370 MW • Raigarh, Chhattisgarh : 600 MW • Mundra, Gujarat : 4,620 MW • Kawai, Rajasthan : 1,320 MW Assets
Slide 12: Capacity expansion strategy to capture market potential
APL: Capacity expansion strategy to capture market potential Large execution pipeline backed by strong project management capability Upcoming Current capacity Ongoing projects Target opportunities Organic 10,880 MW 6,400 MW 4,800 MW 22,080 MW Under construction / Brownfield expansion Organic capacit
Slide 13: Assuring key deliverables for growth
APL: Assuring key deliverables for growth ▪ High revenue visibility with strong and stable profitability of existing portfolio Financial Assurance ▪ AA- rating from CRISIL and India Ratings ▪ Low debt overhang and high liquidity create ample growth headroom ▪ Domestic fuel requirements of existing p
Slide 14: APL: Strategic Advantages
3 APL: Strategic Advantages STRICTLY CONFIDENTIAL
Slide 15: Fuel management & logistics – Key competitive advantage
Fuel management & logistics – Key competitive advantage Fuel management is key to revenue stability Plant and Mine Locations Only IPP in India with in-house, mine-to-plant 01 logistics capability Handling approx. 60 MMTPA coal, 13 MMTPA Fly 02 Ash Kawai NCL Godda Constant attention to multiple agenc
Slide 16: Operational Excellence through Energy Network Operation Center (ENOC)
Operational Excellence through Energy Network Operation Center (ENOC) ENOC (Energy Network Operating Centre) − Remote monitoring, diagnosis, and troubleshooting Centralized Management − Centralized power scheduling for optimum capacity utilisation − Real time data access, enabling smooth and agile d
Slide 17: Project Management & Assurance Group (PMAG) - End to End Project Integration
Project Management & Assurance Group (PMAG) - End to End Project Integration Bidding, Site Scouting Project Development & Basic Engineering Execution Operations Concept Integrated Project Management Commissioning Strength: Team of 90 professionals having hands-on experience of 2,000+ man-years of co
Slide 18: Excellent revenue visibility, fuel security, and EBITDA stability
APL: Excellent revenue visibility, fuel security, and EBITDA stability Contracted capacity Pithead merchant capacity • Substantial capacity tied up in LT / MT • Logistics cost advantage from near- contracts with financially sound pithead plant location counterparties • Enhanced competitiveness with
Slide 19: APL: Performance Highlights
4 APL: Performance Highlights STRICTLY CONFIDENTIAL
Slide 20: Hallmark of reliable operating performance
APL: Hallmark of reliable operating performance Average Operational Capacity (MW) Commercial Availability under LT PPAs (%) 91% 89% 90% 90% 15,051 13,650 83% 12,450 12,450 79% 11,810 10,480 FY19 FY20 FY21 FY22 FY23 FY24 FY19 FY20 FY21 FY22 FY23 FY24 PLF (%) Sales (BU) 79 67% 64% 65% 64 59% 55 59 52
Slide 21: Setting profitability benchmarks
APL: Setting profitability benchmarks Total Revenues (Rs. Crore) Credit Profile +21% CAGR Domestic Ratings 60,281 Listed Entities Rating Agency INR Ratings APL CRISIL AA-/Stable 43,041 APL India Ratings AA-/Stable 28,150 31,686 27,842 APJL India Ratings BBB/Stable Net Senior Debt to EBITDA (x)1 4.8
Slide 22: Successfully tapping into power demand growth during Q1 FY 2024-25
APL: Successfully tapping into power demand growth during Q1 FY 2024-25 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 92% 93% 26.0 78% 24.1 60% 19.0 17.5 Commercial Availability^ PLF Generation (BU) Sales (BU) Power demand in key States (BU)* 53.5 53.3 42.4 36.5 28.9 Q1 FY24 23.8 23.5 23.7 19.3 15.4 Q1 FY25 Gujar
Slide 23: Robust all-round growth continues in Q1 FY 2024-25
APL: Robust all-round growth continues in Q1 FY 2024-25 Snapshot of Profit & Loss Account INR Crores Summary Income Statement Q1 FY25 Q1 FY24 +/- Effective Capacity (MW) 15,250 14,468 Continuing Operating Revenue 14,717 11,370 29% Continuing Other Income 335 242 38% Total Continuing Revenue 15,052 1
Slide 24: Deleveraging of balance sheet and stronger net worth
APL: Deleveraging of balance sheet and stronger net worth Senior Term Debt / Equity Ratio (times) ▪ Significant reduction in senior 5.32 debt through prepayment as well as regular repayments despite acquisitions and addition of 2.57 project debt for the Godda plant. 1.86 0.99 ▪ Improvement in operat
Slide 25: APL: ESG Practice
5 APL: ESG Practice STRICTLY CONFIDENTIAL
Slide 26: ESG Highlights
APL: ESG Highlights Material Topic Targets Key ESG Initiatives/Achievements UN SDGs Reduction in GHG emission intensity Climate Change Adaptation and mitigation Climate Change Adaptation to 0.84 tCO2e/MWh • Average Emission intensity - 0.85 tCO2e/MWh. by FY 2025 and Mitigation Water Management • Wat
Slide 27: Board of Directors and Management overview
APL: Board of Directors and Management overview 100% Chaired Chaired IDs By IDs By NID Board of Directors Statutory Committees 40% Independent Directors - Audit 🗹 Comprised of only Independent Directors - Nomination & Remunerations 🗹 100% of - Stakeholder Relationship 🗹 Statutory Committees -…
Slide 28: APL: Investment Case
6 APL: Investment Case STRICTLY CONFIDENTIAL
Slide 29: APL's unique positioning to catapult on the tail-wind of India's growth story
APL’s unique positioning to catapult on the tail-wind of India’s growth story ▪ 85% of capacity contracted under LT / MT PPAs, of which 91% has assured fuel cost recovery Secure Business ▪ 85% of domestic fuel requirements secured under LT / MT contracts Model ▪ Domestic credit rating of APL is heal
Slide 30: Thank You
Thank You