Adani Power Limited · NSE:ADANIPOWER
Adani Power — Investor Presentation (March 2025)
32 slides from Adani Power's investor presentation, Mar 11, 2025
Slide 1: Exchange filing cover letter for updated investor presentation
March 11, 2025 BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 533096 Scrip Code: ADANIPOWER Dear Sirs, Sub.: Updated investor presentation of Adani Power Limited
Slide 2: Adani Power Limited Investor Presentation March 2025
Adani Power Limited Investor Presentation March 2025
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 Positioning For Growth 4 APL: Performance Highlights 5 APL: ESG Practice 6 APL: Investment Case Appendix 3
Slide 5: About Adani Portfolio
1 About Adani Portfolio STRICTLY CONFIDENTIAL
Slide 6: Adani Portfolio: A World class Infrastructure & Utility portfolio
Adani Portfolio: 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%) (73.97%) (100%) (50.00%) (100%) (100%) ANIL Ada
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% 1,2,3 EBITDA 92% 1,3,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL Adani’s Core Infra. Platfor
Slide 8: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: 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 C
Slide 9: About Adani Power Limited (APL)
2 About Adani Power Limited (APL) STRICTLY CONFIDENTIAL
Slide 10: Sector leader poised to capture thermal power growth potential
APL: Sector leader poised to capture thermal power growth potential Target Capacity 30,670 MW Operating Capacity Locked-in Growth Further Organic/ Inorganic 121,2 17,550 + 5 6,720 + 4 6,400 Assets MW Assets MW Assets MW Asset Type Asset Type Asset Type 62% 38% 91% 9% 100% Organic Inorganic Organic I
Slide 11: Holding structure and geographic spread
APL: Holding structure and geographic spread Existing Capacity Locked-in Growth Highlights Total Capacity: 12,950 MW Mundra (GJ): 4,620 MW Organic: 9,240 MW Bitta (GJ): 40 MWp Inorganic: 3,710 MW Tiroda (MH): 3,300 MW Raipur Ph-II: 1,600 MW Adani Power Ltd. Dahanu (MH): 500 MW Raigarh Ph-II: 1,600 M
Slide 12: 80 GW additional coal-based base load capacity required to meet rising demand
APL: 80 GW additional coal-based base load capacity required to meet rising demand 500 3000 Power Demand Growth Projections • Coal-based capacity critical for base load power to 450 2474 2500 400 integrate 500+ GW renewable power by 2030 350 2000 1626 300 • Focus on Ultra-supercritical / Supercritic
Slide 13: Excellent revenue visibility, fuel security, and EBITDA stability
APL: Excellent revenue visibility, fuel security, and EBITDA stability Contracted capacity Near-pithead merchant capacity • Domestic coal-based merchant capacity • Substantial capacity tied up in LT located near-pithead providing logistics contracts with financially sound cost advantage counterparti
Slide 14: APL: Strategic Positioning For Growth
3 APL: Strategic Positioning For Growth STRICTLY CONFIDENTIAL
Slide 15: Project Management & Assurance Group (PMAG) – End to End project integration
APL: 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
Slide 16: Operational excellence through Energy Network Operation Center (ENOC)
APL: Operational excellence through Energy Network Operation Center (ENOC) ENOC − Remote monitoring, diagnosis, and troubleshooting Centralized Management − Centralized power scheduling for optimum capacity utilisation Real Time Data − Real time data access, enabling smooth and agile Availability de
Slide 17: Fuel management & logistics – Key competitive advantage
APL: 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. 74 MMTPA coal, 22 MMTPA Fly 02 Ash Kawai NCL Godda Constant attention to multiple
Slide 18: 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 credit rating from CRISIL, ICRA, India Ratings, and CARE Ratings ▪ High liquidity creates ample growth headroom ▪ Domestic fuel requirements of exis
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) Plant Availability (%) 16,216 95% 95% 94% 92% 91% 90% 15,051 13,650 11,810 12,450 12,450 FY20 FY21 FY22 FY23 FY24 9MFY25 FY20 FY21 FY22 FY23 FY24 9MFY25 PLF (%) Sales (BU) 79 67% 69% 69 65% 64 59% 59 52% 48% 52 53 FY20
Slide 21: Setting profitability benchmarks
APL: Setting profitability benchmarks Reported Total Revenues (Rs. Crore) Credit Profile +21% CAGR 60,281 Entities Rating Agency INR Ratings 43,041 44,370 CRISIL, ICRA, 31,686 APL AA/Stable 27,842 28,150 India Ratings, CARE MEL India Ratings AA-/Stable KPL India Ratings, CARE AA-/Stable FY20 FY21 FY
Slide 22: Significant deleveraging of portfolio
APL: Significant deleveraging of portfolio 10 Notches improvement in credit Net Senior Debt to Continuing EBITDA (times) rating since 2018 52,987 50,626 60000 45,822 10 39,434 50000 ▪ Significant reduction in senior 9.2 26,545 28,991 40000 8.7 30000 5 term debt through prepayment as 5.7 1.3 20000 4.
Slide 23: APL: ESG Practice
5 APL: ESG Practice STRICTLY CONFIDENTIAL
Slide 24: ESG Highlights
APL: ESG Highlights Material Topic Targets Key ESG Initiatives/Achievements UN SDGs Climate Change Adaptation and mitigation Climate Change • Average Emission intensity - 0.85 tCO2e/MWh. Adaptation Reduction in GHG emission Water Management and Mitigation • intensity to 0.84 tCO2e/MWh Water Intensit
Slide 25: 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 26: APL: Investment Case
6 APL: Investment Case STRICTLY CONFIDENTIAL
Slide 27: Aptly positioned to capitalize on India's power demand growth opportunity
APL: Aptly positioned to capitalize on India’s power demand growth opportunity Secure Business ▪ 87% of capacity contracted under LT / MT PPAs, of which 92% has assured fuel cost recovery Model ▪ 91% of domestic fuel requirements secured under LT / MT contracts ▪ Full resolution of all regulatory ma
Slide 28: Thank You
Thank You
Slide 29: Appendix
Appendix STRICTLY CONFIDENTIAL
Slide 30: Growth potential from rising power demand fully realised
APL: Growth potential from rising power demand fully realised O&M Availability PLF Generation (BU) Sales (BU) 93% 92% 91% 74.1 88% 69.5 69% 61.7 69% 57.1 64% 62% 23.1 21.5 24.7 23.3 Q3 FY24 Q3 FY25 9M FY24 9M FY25 Q3 FY24 Q3 FY25 9M FY24 9M FY25 Power Demand in key States (BU)* 153.7 148.5 109.5 114
Slide 31: All-round improvement reflected in sustained strong profitability
APL: All-round improvement reflected in sustained strong profitability Snapshot of Profit & Loss Account INR Crores Summary Income Statement Q3 FY25 Q3 FY24 +/- 9M FY25 9M FY24 +/- Effective Capacity (MW) 17,550 15,250 15.1% 16,216 14,985 8.2% Continuing Operating Revenue 12,692 13,143 -3.4% 40,358
Slide 32: Consolidated Debt Profile
APL: Consolidated Debt Profile INR Crores Particulars As on 31st Dec 2024 As on 31st Mar 2024 As on 31st Mar 2023 Senior Secured Loans Existing entities 28,201 27,875 21,425 Under-construction project 950 - 8,196 Total Senior Secured Loans (after Ind-AS adjustment) 29,151 27,875 29,621 Working Capit