Tata Power Company Limited · NSE:TATAPOWER

Tata Power — The Tata Power Company — Q4 FY2023 Earnings Presentation

48 slides from Tata Power's earnings presentation, May 4, 2023

  1. Slide 1: Cover letter to stock exchanges: Presentation to Analysts

    4th May 2023 BJ/SH-L2/ BSE Limited National Stock Exchange of India Limited Corporate Relationship Department Exchange Plaza, 5th Floor, 1st Floor, New Trading Ring, Plot No. C/1, G Block, Rotunda Bldg., P. J. Towers, Bandra-Kurla Complex, Dalal Street, Fort, Bandra (East), Mumbai 400 001. Mumbai 40

  2. Slide 2: Financial Results – Q4 FY23

    F I N A N C I A L R E S U LT S – Q 4 F Y 2 3 4 M AY 2 0 2 3

  3. Slide 3: 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

  4. Slide 4: Agenda

    04 About Tata Power Agenda 10 Sustainability: Manifesting a Greener Tomorrow 16 Industry Highlights 20 Business Highlights 26 Operational & Financial Highlights 31 Annexures tatapower.com 3

  5. Slide 5: About Tata Power

    About Tata Power tatapower.com 4

  6. Slide 6: Glorious history of over 100 years

    Glorious history of over 100 years... • 2001:Commissioned first wind asset of 17 MW at Supa • 1910: Company Maharashtra • Commissioned first solar • 2014: Entered into • Resurgent Power Ventures • Takes over distribution • Tata Power secures incorporated as asset of 3 MW at Mulshi agreement to sell

  7. Slide 7: India's most Vertically Integrated Power Company

    … to become India’s most Vertically Integrated Power Company TATA POWER COMPANY LIMITED (TPCL) FY2023 Revenue EBITDA Net Debt PAT*** 56,033 10,068 35,328 3,810 THERMAL GENERATION, COAL & HYDRO RENEWABLES^ TRANSMISSION & DISTRIBUTION ELIMINATIONS/OTHERS (INCL. CORPORATE TAXES , EXPENSES AND INTEREST)

  8. Slide 8: Generation assets located across India

    Generation assets located across India… P AR T I C U L A R S DOM ESTIC C AP AC I T Y ( M W ) 1. Andaman & Nicobar 0.2 Capacity Mix (Domestic + International) 14 2. Andhra Pradesh 305.6 8 19 3. Assam 0.2 14,110 MW 8,860 MW 5 4. Bihar 41.0 Total Thermal 5. Delhi 111.2 6. Goa 0.7 15 18 4 3 7. Gujarat 4

  9. Slide 9: As well as few Global locations

    … as well as few Global location 2 1 3 P AR T I C U L A R S SUM OF PRESENT C AP AC I T Y ( M W ) 4 1. Dagachhu, Bhutan (Hydro) 126 2. Adjaristsqali, Georgia (Hydro) 187 3. PT CKP, Indonesia (Thermal) 54 4. Itezhi Tezhi, Zambia (Hydro) 120 Grand Total 487 tatapower.com 8

  10. Slide 10: Clean & Green to account for 47% capacity post project completion

    Clean & Green to account for 47% capacity post project completion Tata Power Capacity Current Operational Capacity share (IN MW ) (IN %) 3 21 Thermal Hydro 7 Wind 63 6 Solar WHRS/BFG* Capacity share post completion of projects (IN %) 8 3 Thermal Hydro 25 Wind 53 Solar Thermal Hydro Wind Solar WHRS O

  11. Slide 11: Sustainability: Manifesting a Greener Tomorrow

    Sustainability: Manifesting a Greener Tomorrow Carbon Water Zero Waste Net Zero Neutral to Landfill BEFORE 2045 BEFORE 2030 BEFORE 2030 tatapower.com 10

  12. Slide 12: Tata Power's Sustainability Aspirations

    Tata Power’s Sustainability Aspirations Meaningful improvement in ESG ratings REPORT / 2022 2021 2020 2019 2018 FINANCI AL YEAR • Become carbon net zero • Education – Train • Improve Sustainability CDP – Climate 35 lakh+ youth as B C C D D before 2045 Disclosures and get Change conservation and STEM

  13. Slide 13: ESG Performance @Tata Power

    ESG Performance @Tata Power BAS ELI NE T ARG ET PART IC U L AR S DESCRIPT ION ON GOING ACT IONS VAL UE (FY 22) Y EAR VALU E Y EAR Clean & Green Portfolio 16%* 2015 80% 2030 • 37.06% RE portfolio as of March 2023 • SBTi Commitment Net Zero • Renewable Portfolio Growth 40.7 Million Tonnes 2022 100% 20

  14. Slide 14: Strong Governance Framework

    Strong Governance Framework CSR & Sustainability Board Committee Apex Leadership Sustainability Framework- Governance SBU Heads Tata Power has a well-established sustainability governance structure to benchmark, implement, and monitor sustainability aligned decisions and actions. The CSR and Corpora

  15. Slide 15: Transitioning to non-fossil fuel-based generation by FY 2045

    Transitioning to non-fossil fuel-based generation by FY 2045 Leading utility transition Leading utility transition to clean to clean energy by Evolving energy by evolving generation mix (%) generation mix (%) • Over 1/3rd of Tata Power’s 16% generating capacity comes from 37% clean and green energy

  16. Slide 16: Empowering Communities

    Empowering Communities CSR Mission To work with communities in the vicinity 30 Mn TOUCHING LIVES 80+ DISTRICTS IN of our operations or as specially identified, to gain their acceptance of co-existence by 1 5 S TAT E S addressing salient development imperatives **Tata Power has made a major leap in t

  17. Slide 17: Industry Highlights

    Industry Highlights tatapower.com 16

  18. Slide 18: Strong Correlation between GDP and Power Demand Growth

    Strong Correlation between GDP and Power Demand Growth India has one of the lowest Ratio of Power Growth to GDP Monthly Energy Requirement All India Coal-Based power consumption per capita growth has increased in the (IN BUs) Generation Plants’ PLF at 68% past 5 years (IN %) (IN UNITS) 85% 30,000 6.

  19. Slide 19: Renewable Energy accounted for 93% of capacity additions in FY23

    Renewable Energy accounted for 93% of capacity additions in FY23 Total Installed Capacity in 3.8GW added in Mar-23; 16.5GW capacity added in Renewable (incl. Hydro) accounted India stands at ~416GW 79% Renewable FY23 for 93% of FY23 capacity additions (IN GW ) (IN MW ) (IN %) Thousands 4.0 543 368 3

  20. Slide 20: Solar Module and Thermal Coal prices have been declining lately

    Solar Module and Thermal Coal prices have been declining lately Price Movement of Polysilicon & Wafer Price Movement of Cell & Module Coal Prices (US$/t) 45 1.2 0.33 40 1 0.28 450 35 400 30 0.8 0.23 350 25 300 0.6 0.18 20 250 0.13 200 15 0.4 150 10 0.2 0.08 100 5 50 0.03 0 0 Mar-2020 Jun-2020 Sep-20

  21. Slide 21: Business Highlights

    Business Highlights tatapower.com 20

  22. Slide 22: Q4 FY23 Highlights

    Q4 FY23 Highlights TPSSL receives Letter of TPREL has received LoA from S&P Global ratings has Awarded India’s Best Award (LoA) of ₹1,755 crore MSEDCL, to set up a 200 MW upgraded Consolidated Credit Annual Report Award to set up 300MW Solar solar PV project in Solapur, Rating from BB to BB+ with by

  23. Slide 23: Solar Utility Scale EPC Update

    Solar Utility Scale EPC Update WELL DIVERSIFIED UTILITY TPSSL- Large EPC Order Book BUSINESS SCALE ORDER BOOK (IN ₹ CRORE) UPDATES CUSTOMER AC CAP (MW) • Project of 1.3 GW Tata Power Group executed in FY 2023 1,700 NTPC 470 • New orders of 2.7 GW won in FY 2023 NHDC 88 • Activities picked up at all

  24. Slide 24: Tata Power – EZ Charge

    Tata Power – EZ Charge OPERATIONAL EV CHARGING PLATFORM BUSINESS HIGHLIGHTS HIGHLIGHTS STATISTICS Public and Captive Chargers (Energised) 127k+ Registered Users • Partnered with R CITY 3,080 698 109 18 Mall in Mumbai, to deploy 8 chargers, including super-fast 60 kW charging Cities and tow ns covere

  25. Slide 25: Solar Business – Quarter Highlights

    Solar Business – Quarter Highlights ROOFTOP SOLAR SOLAR PUMP Revenue Revenue (In ₹ Crore) (In ₹ Crore) Q4 FY23 1,097 Q4 FY23 97 Q3 FY23 535 Q3 FY23 205 Q4 FY22 687 Q4 FY22 243 398 MW orders w on in Q4 Pumps Billed YTD (In%) • Achieved ~2x revenue growth over Q3 FY23 • Order book as at Q4 end stands

  26. Slide 26: Odisha Discoms – Highlights

    Odisha Discoms –Highlights FY23 -STRONG OPERATIONAL PERFORMANCE ACROSS ALL DISCOMS REDUCING AT&C LOSSES => THEFT METERS S U B S T AT I O N S P R E - T AK E O V E R PROM ISING GROWTH L O AD ( M W ) R E P L AC E D ( i n AU T O M AT E D AR R E AR S (Incl. past arrears) lakhs) (No’s) COLLECTED (₹Crs) Ac

  27. Slide 27: Operational & Financial Highlights

    Operational & Financial Highlights tatapower.com 26

  28. Slide 28: Q4 FY23 Operational Highlights

    Q4 FY23 Operational Highlights Generation - Availability Plant Load or Capacity Utilization Factor AT&C Losses - Distribution IN % IN % IN % 100 100 100 9.5 98 98 97 98 98 99 92 75 8.4 67 8.0 81 81 66 79 7.4 6.8 6.3 39 37 34 35 25 25 27 23 21 15 12 10 12 0.5 0.5 8 0.4 Thermal Mundra MO Hydro WIND SO

  29. Slide 29: FY23 Operational Highlights

    FY23 Operational Highlights Generation - Availability Plant Load or Capacity Utilization Factor AT&C Losses - Distribution IN % IN % IN % 100 100 9.5 99 98 98 98 74 73 89 88 8.0 6.8 6.3 66 41 40 32 25 29 22 23 20 19 0.4 0.5 Thermal Mundra MO Hydro WIND SOLAR SOLAR MO- Thermal Mundra MO Hydro WIND TP

  30. Slide 30: Financial Highlights

    Financial Highlights Record FY23 for Tata Power with all time high EBITDA and PAT Revenue EBITDA PAT Reported PAT (before exceptional items) (after exceptional items) Q4 FY23 12,755 Q4 FY23 3,101 Q4 FY23 939 Q4 FY23 939 Q3 FY23 14,339 Q3 FY23 2,818 Q3 FY23 1,052 Q3 FY23 1,052 Q4 FY22 12,085 Q4 FY22

  31. Slide 31: Comfortable Debt Position For Sustainable Growth

    Comfortable Debt Position For Sustainable Growth Net Debt Net Debt Declines Further in Q4 FY23 (IN ₹ CRORE) (IN ₹ CRORE) Q4 FY23 35,328 Q3 FY23 38,131 Q4 FY22 39,708 Balance Sheet Continues to Strengthen Q3 FY23 Cash from Income WC Changes Others Interest Business as Equity Capex Q4 FY23 2.66 Net De

  32. Slide 32: Annexures

    Annexures tatapower.com 31

  33. Slide 33: Consolidated Performance – Q4 FY23

    Consolidated Performance – Q4 FY23 ₹ Crore unless stated Particulars Op Income EBITDA^^ PAT Q4 FY23 Q4 FY22 Q4 FY23 Q4 FY22 Q4 FY23 Q4 FY22 Consolidated before exceptional items 12,755 12,085 3,101 2,253 939 916 Standalone & Key Subsidiaries Tata Power (Standalone) 3,194 3,214 1,022 2,243 142 1,912

  34. Slide 34: Consolidated Performance – FY23

    Consolidated Performance –FY23 ₹ Crore unless stated Particulars Op Income EBITDA^^ PAT FY23 FY22 FY23 FY22 FY23 FY22 Consolidated before exceptional items 56,033 42,576 10,068 8,192 3,810 2,440 Standalone & Key Subsidiaries Tata Power (Standalone) 18,848 11,242 6,817 4,669 2,730 1,488 Maithon Power

  35. Slide 35: Tata Power (Consolidated) Performance

    Tata Power (Consolidated) Performance ₹ Crore unless stated Particulars Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 Var Quarter Variance Remarks Capacity addition in RE and Operating Income 12,755 12,085 670 56,033 42,576 13,457 higher sales in Discoms Operating Expenses 10,526 10,091 (435) 47,403 35,305 (12,

  36. Slide 36: Tata Power (Standalone) Financial Performance

    Tata Power (Standalone) Financial Performance ₹ Crore unless stated Particulars Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 Var Quarter Variance Remarks Operating Income 3,194 3,214 (20) 18,848 11,242 7,606 Operating Expenses 2,654 2,868 214 16,116 9,561 (6,556) Operating Profit 540 346 194 2,732 1,682 1,050

  37. Slide 37: Maithon Power Limited - Highlights

    Maithon Power Limited - Highlights ₹ Crore unless stated Particulars Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 Var Quarter Variance Remarks Generation (MUs) 1,462 1,543 (81) 7,555 7,489 66 Sales (MUs) 1,437 1,453 (16) 7,455 7,215 240 Availability (%) (Plant) 69% 77% -8% 90% 93% -3% PLF % 64% 68% -4% 82% 81%

  38. Slide 38: Prayagraj Power Generation Co. Ltd. - Highlights

    Prayagraj Power Generation Co. Ltd. - Highlights ₹ Crore unless stated Particulars Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 Var Quarter Variance Remarks Generation (MUs) 2,878 2,651 227 12,510 11,656 854 Sales (MU) 2,713 2,497 217 11,790 10,977 813 Availability (%) 77% 72% 5% 81% 81% 0% PLF % 67% 62% 5% 72

  39. Slide 39: Tata Power Delhi Distribution Ltd - Highlights

    Tata Power Delhi Distribution Ltd - Highlights ₹ Crore unless stated Particulars Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 Var Purchase (Mus) 2,059 2,036 23 10,621 9,425 1,197 Sales (Mus) 1,926 1,891 35 9,945 8,787 1,158 Revenue Per Unit 10.68 9.89 0.78 9.65 9.08 0.6 PPC Per Unit 8.56 6.80 (1.76) 7.51 6.32

  40. Slide 40: Q4 FY23 Odisha Discoms – Highlights

    Q4 FY23 Odisha Discoms – Highlights ₹ Crore unless stated Particulars TPCODL TPSODL TPWODL TPNODL Purchase (MUs) 2,134 945 3,171 1,600 Sales (MUs) 1,755 691 2,662 1,390 Revenue per unit 6.6 7.1 5.7 6.1 Power Cost per unit 3.2 2.5 4.0 3.5 Actual Technical losses (%) 23% 25% 18% 16% Actual AT&C losses

  41. Slide 41: Tata Power Renewable Energy Conso – Highlights

    Tata Power Renewable Energy Conso (Excl WREL & CSL) – Highlights ₹ Crore unless stated Particulars Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 Var Quarter Variance Remarks Capacity - Total (MW) 2,861 2,333 527 2,861 2,333 529 Capacity - Wind (MW) 782 782 0 782 782 0 Capacity - Solar (MW) 2,079 1,551 527 2,079

  42. Slide 42: Walwhan Renewable Energy Ltd - Highlights

    Walwhan Renewable Energy Ltd - Highlights ₹ Crore unless stated Particulars Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 Var Quarter Variance Remarks Capacity - Total (MW) 1,010 1,010 0 1,010 1,010 0 Capacity - Wind (MW) 146 146 0 146 146 0 Capacity - Solar (MW) 864 864 0 864 864 0 Generation (MUs) 435 441 (5)

  43. Slide 43: Tata Power Solar Systems Limited – Highlights

    Tata Power Solar Systems Limited – Highlights ₹ Crore unless stated Particulars Q4 FY23 Q4 FY22 Qtr Var FY23 FY22 Var Quarter Variance Remarks Operating Income 2,958 3,481 (523) 6,876 8,506 (1,630) Planned deferment in utility scale projects Operating expenses 2,719 3,408 688 6,404 8,148 1,744 Opera

  44. Slide 44: Renewables – Consolidated View

    Renewables – Consolidated View ₹ Crore unless stated Key Parameters - Renewables FY23 FY22 Revenue 8,197 7,527 EBITDA 3,203 2,882 PAT 730 685 Gross Debt 16,194 15,345 Net Debt 11,679 14,914 Net Worth 12,268 6,051 Note: EBITDA includes other income PY numbers have been restated tatapower.com 43

  45. Slide 45: Regulated - Equity And Assets

    Regulated - Equity And Assets ₹ Crore unless stated Particulars Q4 FY 23 Q3 FY 23 Q2 FY 23 Q1 FY 23 Regulated Equity Mumbai Operation 4,639 4,394 4,380 4,370 Jojobera 542 542 522 522 Tata Power Delhi Distribution (100%) 1,931 1,861 1,846 1,839 TP Central Odisha Dist Ltd (100%) 590 504 504 504 TP Sou

  46. Slide 46: Tata Power - Debt Profile

    Tata Power- Debt Profile ₹ Crore unless stated Total Gross Debt (LT + ST) Company Quarterly movement Remarks Q4 FY23 Q3FY23 QoQ Q4 FY22 YoY Coal SPVs + TPIPL 4,722 5,275 554 4,008 (714) TPDDL 2,442 2,614 172 2,883 441 TPREL & Subsidiaries Received Rs. 2,000 cr investors money 11,727 11,940 213 10,39

  47. Slide 47: Key Segments - Debt Profile

    Key Segments - Debt Profile ₹ Crore unless stated Consolidated Particulars Q4 FY23 Q3FY23 Q4 FY22 Rupee Forex Total Total Total Long term 28,097 2,611 30,708 28,592 32,729 Short term 7,910 1,291 9,201 12,289 6,976 Current Maturity of LT 8,245 820 9,065 8,603 7,885 Total Debt 44,253 4,722 48,974 49,4

  48. Slide 48: Investor Relations Team

    www.tatapower.com I N V E S T O R R E L AT I O N S T E A M : Mr. Soundararajan Kasturi Mr. Rajesh Lachhani Chief – Treasury & Investor Relations Head – Investor Relations Email: kasturis@tatapower.com Email: rajesh.lachhani@tatapower.com M: +91 82912 04022 M: +91 9742947821

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