Jsw Energy Limited · NSE:JSWENERGY

Jsw Energy — Q3 FY2018 Earnings Presentation

19 slides from Jsw Energy's earnings presentation, Feb 6, 2018

  1. Slide 1: JSW Energy Limited Q3 FY 2018 Results Presentation

    JSW Energy Limited Q3 FY 2018 Results Presentation February 6, 2018

  2. Slide 2: Key highlights for Q3FY18

    Key highlights for Q3FY18  Long term PPA (LTPPA) tie-up proportion at 69.3% in Q3FY18, up from 64.6% in Q2FY18 - driven mainly by signing of 176MW LTPPA with Haryana discom  Net debt reduced by ~ ` 2,490 crore in 9MFY18 after adjusting for JPVL liability; cost of debt dips by 113bps from Q4FY17 le

  3. Slide 3: Agenda

    Agenda Business Environment Operational and Financial Performance 3

  4. Slide 4: Demand growth rate picks up to 6.6% in Q3FY18

    Demand growth rate picks up to 6.6% in Q3FY18 Region Q1FY18 YoY Q2FY18 YoY Q3FY18 YoY 9MFY18 YoY Remarks (MUs) change % (MUs) change % (MUs) change % (MUs) change % North 95,880 4.2% 1,07,414 9.1% 85,539 6.5% 2,88,833 6.2% Driven by UP (Q3: 9%, 9M: 14% YoY growth) West 94,762 5.2% 85,051 3.5% 97,008

  5. Slide 5: Thermal PLF increases to 59.9% in 9MFY18

    Thermal PLF increases to 59.9% in 9MFY18 Gross Q1FY18 YoY Q2FY18 YoY Q3FY18 YoY 9MFY18 YoY Remarks Generation (MUs) change % (MUs) change % (MUs) change % (MUs) change % Thermal 2,61,664 2.3% 2,47,340 8.4% 2,58,355 1.6% 7,67,359 4.0% • Robust generation growth of 5.1%YoY in 9MFY18 primarily led by R

  6. Slide 6: Merchant tariff generally higher in CY17 on YoY basis

    Merchant tariff generally higher in CY17 on YoY basis IEX Average Market Clearing Price - INR/kWh 5.00 4.50 Q1FY18 Q2FY18 Q3FY18 9MFY18 4.00 Merchant Volume 3.50 11,877 12,214 11,028 35,120 IEX+PXIL (MUs) 3.00 Merchant Volume 2.50 16.6% 11.2% 4.3% 10.6% growth YoY 2.00 Merchant Volume as 3.6% 3.7% 3

  7. Slide 7: Thermal capacity declines by ~0.5GW QoQ

    Thermal capacity declines by ~0.5GW QoQ Sector-wise Installed Capacity – 333.6 GW Mode-wise Installed Capacity (as on Dec 31, 2017) (as on Dec 31, 2017) +2,689 MW * Total: 63 GW # -425 MW * +40 MW * RES Total: 80.7 GW # Total: 103.1 GW # 19% Central State 24% 31% +198 MW * Hydro Total: 45 GW # 13% T

  8. Slide 8: Indian economy and thermal coal prices

    Indian economy and thermal coal prices  Industrial Production growth hit a 2-year high of 8.4%YoY in Thermal coal prices firming up again, while INR appreciated November 2017 but its inherent volatility entails a wait-and- slightly during Q3 FY18 watch approach API 4 Coal (monthly avg.) USD/INR (mo

  9. Slide 9: Agenda

    Agenda Business Environment Operational and Financial Performance 9

  10. Slide 10: Power generation

    Power generation Q3 plant-wise net generation 9M plant-wise net generation -1% 6% 17,568 17,461 4,944 4,644 25% -8% 1% 4% -2% 3% -3% 2% 2,753 2,846 5,283 5,471 4,469 1,594 5,093 4,439 1,628 1,757 4,674 1,407 928 896 682 697 Ratnagiri Vijayanagar Barmer Hydro Total Ratnagiri Vijayanagar Barmer Hydro

  11. Slide 11: Long term PPAs

    Long term PPAs in MW 3,078MW 3100 208MW 69.3% * 3000 2,866MW 2,870MW 2900 64.5% * 64.6% * 2800 2700 Q1FY18 Q2FY18 Addition in Q3FY18 Q3FY18 Availability under long term PPA remained above normative in Q3FY18  32MW tied under “Group Captive” scheme at Ratnagiri plant in Q3FY18.  In HBPCL: Long term

  12. Slide 12: Consolidated financial results

    Consolidated financial results ` Crore Q3 FY17 Q3 FY18 Particulars 9M FY17 9M FY18 1,955 2,081 Turnover 6,545 6,635 708 673 EBITDA 2,881 2,702 36% 32% EBITDA Margin(%) 44% 41% 423 341 Interest 1,288 1,132 244 241 Depreciation 731 728 41 92 Profit Before Tax 862 841 21 47 Profit after Tax 605 561 0.1

  13. Slide 13: Consolidated financial highlights

    Consolidated financial highlights Particulars Mar 31, 2017 Jun 30, 2017 Sep 30, 2017 Dec 31, 2017 Net Worth (` Crore) 10,368 10,696 11,259 11,469 Net Debt (` Crore) 13,384 13,686 12,679 11,896 Net Debt to Equity Ratio (x) 1.29 1.28 1.13 1.04 Weighted average cost of debt 10.17% 10.05% 9.33% 9.04% De

  14. Slide 14: Sustained reduction in net debt

    Sustained reduction in net debt in ` crore 14500 ` 14,384 cr JPVL related liability 14000 ` 1,000 cr 13500 (non-funded) Reduction of 13000 ~ ` 2490 cr 12500 Net debt Net debt Net debt Net debt 12000 ` 13,384 cr ` 13,686 cr ` 12,679 cr ` 11,896 cr 11500 11000 10500 10000 Q4FY17 Q1FY18 Q2FY18 Q3FY18 T

  15. Slide 15: Entity wise summary financial performance

    Entity wise summary financial performance ` Crore Q3 FY17 Q3 FY18 Income from Operations 9M FY17 9M FY18 914 1,135 Standalone 3,028 3,196 652 573 RWPL 1,895 1,642 282 224 HBPCL 1,250 1,255 183 428 JSW PTC 1,308 1,141 18 22 JPTL 67 67 1,904 1,993 Consolidated * 6,401 6,274 * After inter-company adjus

  16. Slide 16: Entity wise summary financial performance (contd.)

    Entity wise summary financial performance (contd.) ` Crore Q3 FY17 Q3 FY18 EBITDA 9M FY17 9M FY18 206 280 Standalone 1,004 935 289 226 RWPL 870 676 250 172 HBPCL 1,137 1,173 (1) 1 JSW PTC 7 16 18 21 JPTL 72 66 708 673 Consolidated * 2,881 2,702 * After inter-company adjustments and eliminations 16

  17. Slide 17: Key updates during Q3FY18

    Key updates during Q3FY18  EV: Making steady progess wrt product & technology strategies; business partnerships and organisation structure  Major equipment ordered for the greenfield thermal power plants of 36MW announced in Q2FY18  Competion timeline: end of Sep 2019  Added ~10MW of solar proje

  18. Slide 18: 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

  19. Slide 19: Thank you

    Thank you 19

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