Torrent Power Limited · NSE:TORNTPOWER
Torrent Power — Q1 2019-20 Earnings Presentation
26 slides from Torrent Power's earnings presentation, Aug 5, 2019
Slide 1: Covering letter to stock exchanges
~i'orre nt' w POWER 5th August, 2019 . To, To , Corporate Relationship Department Listing Department, BSE Ltd National Stock Exchange of India Ltd th . 14 Floor, P. J. Towers , "Exchange Plaza", C- 1, Block G Dalal Street, Fort, Bandra- Kurla Complex, Bandra ( East), Mumbai-400 001 Mumbai 400 051 SC
Slide 2: Investor Presentation Q1 2019-20
INVESTOR PRESENTATION Q1 2019-20
Slide 3: Disclaimer
Disclaimer This information may contain certain forward-looking statements/details in the current scenario, which is extremely dynamic and increasingly fraught with risks and uncertainties. Actual results, performances, achievements or sequence of events may be materially different from the views ex
Slide 4: Presentation Outline
Presentation Outline Sr. No. Particulars 1. Torrent Group 2. Torrent Power Limited 3. Overview of Operations : Q1 2019-20 4. Investment Rationale 5. Five Year Trend : Key Financial & Technical Statistics
Slide 5: Torrent Group
1. Torrent Group TORRENT PHARMACEUTICALS LIMITED • A generics pharmaceutical major with strong global footprint • Ranked in top 10 in Indian pharma market with leading position in niche therapeutic areas • Largest Indian pharma company in Brazil & Germany TORRENT POWER LIMITED • Leading private sect
Slide 6: Torrent Group (Contd…)
Torrent Group (Contd…) Turnover $ 3010 Mn Market Cap $ 5764 Mn Enterprise Value $ 8487 Mn Employees 22,000+ Spreading smiles Illuminating Lives Not just healthcare… Lifecare Generating Trust. Distributing Opportunities. Building pan-India state-of-art Turnover: $ 1109 Mn Turnover: $ 1901 Mn city gas
Slide 7: Torrent Power Limited
2. Torrent Power Limited Spreading smiles Illuminating Lives Thermal Solar Wind Transmission Distribution - Licensed - 2730 MW state- - 355 kms 400 kV distribution areas - 138- 138 MWMW oper- of - 473 - 430MWMWoper- of of-art gas based operational & 128 Kms of - Licensed covering Ahmed- ational capa
Slide 8: Portfolio of Assets: Thermal Generation
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : THERMAL GENERATION 1147.5 MW 382.5 MW 1200 MW 362 MW (3 x 382.5) (1 x 382.5) (3 x 400) (1 x 120 MW, 2 x 121 MW) Gas-based CCPP Gas-based CCPP Gas-based CCPP Coal Based Near Surat, Gujarat Near Surat, Gujarat Near Bharuch, Ahmedabad, Gujarat Gujara
Slide 9: Portfolio of Assets: Renewable Generation
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : RENEWABLE GENERATION 51 87 49.6 201.6 50.9 50.4 120 Adjacent to Lalpur, Gulbarga & Patan in Bhuj in Bhavnagar in SUGEN Plant, Jamnagar in Rajkot in Gujarat Raichur in Gujarat Gujarat Gujarat Gujarat Gujarat Karnataka FY 15 FY 16 FY 12 FY 17 FY 19
Slide 10: Portfolio of Assets: Wind Projects Under Development
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : WIND PROJECTS UNDER DEVELOPMENT Particulars/ Project SECI I SECI III MSEDCL SECI V Capacity (In MW) 100 499.8 126 115 SCOD Oct, 2018* Nov, 2019 Jan, 2020 July 2020 Location (District, Kutch, Gujarat Kutch, Osmanabad, Kutch, Gujarat State) Gujarat
Slide 11: Portfolio of Assets: Distribution
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : DISTRIBUTION Licensed Distribution Franchised Distribution Particulars Ahmedabad/ Surat Dahej Bhiwandi Agra Gandhinagar Licensed Area ~ 356 sq. km. ~ 52 sq. km. ~ 17 sq. km. ~ 721 sq. km. ~ 221 sq. km. Peak Demand 1,906 MW 687 MW 66 MW 555 MVA 458
Slide 12: Portfolio of Assets: Upcoming Distribution License Area
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : UPCOMING DISTRIBUTION LICENSE AREA The Company has been awarded distribution license for Dholera Special Industrial Region (Dholera SIR) of ~920 Sq Kms for 25 years as additional licensee Dholera SIR is a major project in the Delhi-Mumbai Indu
Slide 13: Portfolio of Assets: Upcoming Distribution Franchise Area
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : UPCOMING DISTRIBUTION FRANCHISE AREA TPL has been awarded the distribution franchise for Shil, Mumbra & Kalwa area by MSEDCL, based on competitive bidding process for 20 years. The ~65 Sq Kms area is part of Thane Urban Circle of MSEDCL and is
Slide 14: Overview of Operations – Q1 2019-20
3. Overview of Operations – Q1 2019-20 Income Statement – Consolidated (Rs. Cr.) Q1 19-20 Q1 18-19 Growth % Revenue from Operations 3,736 3,528 6% Power Purchase Cost 2,457 2,385 Material Cost & Change in Inventory 74 48 Contribution 1,205 1,095 10% Other Income 54 52 Gen. & Admin Exp. 371 328 PBDIT
Slide 15: Overview of Operations – Q1 2019-20 (Contd…)
Overview of Operations – Q1 2019-20 (Contd…) The major contributors for the increase in the reported total comprehensive income for the quarter are: Contribution from merchant power sales during the quarter; Higher profits from Renewables business; Improved performance of licensed and franchised dis
Slide 16: Thermal PLF / Net Generation
Overview of Operations – Q1 2019-20 (Contd…) Thermal PLF (%)/ Net Generation (MUs) 94.02% 93.69% 74.59% 73.11% 1823 1782 42.25% 683 678 MUs MUs MUs MUs 343 MUs 10.24% 0.00% 0.00% 261 MUs SUGEN UNOSUGEN DGEN AMGEN 1147.5 MW 382.5 MW 1200 MW 362 MW Q1 2018-19 Q1 2019-20
Slide 17: Renewable PLF / MUs Dispatched
Overview of Operations – Q1 2019-20 (Contd…) Renewable PLF (%)/MUs Dispatched 35.41% 36.66% 19.14% 19.84% 264 322 MUs MUs 58 60 MUs MUs 264 431 MW 473 MW 138 MUs MW WIND SOLAR Q1 2018-19 Q1 2019-20
Slide 18: Distribution: USO/Purchase, T&D and AT&C Loss
Overview of Operations – Q1 2019-20 (Contd…) USO/Purchase (MUs) 2,617 2,584 980 959 929 922 646 666 A'bad Surat Bhiwandi Agra Q1 18-19 Q1 19-20 T&D Loss (%) AT&C Loss (%) 12.16% 11.62% 23.26% 24.55% 16.27% 14.16% 3.04% 3.26% A'bad Surat Bhiwandi Agra Q1 18-19 Q1 19-20 Q1 18-19 Q1 19-20
Slide 19: Investment Rationale
4. Investment Rationale • State of the art gas • Huge growth • Need for a robust • Opportunities for based plants potential in renew- grid to support huge private sector • Direct import of LNG at ables at returns increase in considering the efficient cost higher than COE renewables capacity endemic
Slide 20: Investment Rationale: Value Creation
Investment Rationale (Contd…) Excellent operational Regulated records Promising businesses growth ensuring opportunities stable returns Unmatched Strong project distribution management model skills World class Rational generation Value allocation of assets Creation capital
Slide 21: Five Year Trend - Key Financial Statistics
5. Five Year Trend - Key Financial Statistics Revenues from Operations (₹ Crore) EBIDTA (₹ Crore)/EBIDTA Margin (%) 13151 11716 11512 3381 3389 10396 3336 10000 2651 2423 27% 26% 28% 29% 23% 2014-15 2015-16 2016-17 2017-18 2018-19 2014-15 2015-16 2016-17 2017-18 2018-19 PAT (₹ Crore) Net Worth (₹ Cr
Slide 22: Five Year Trend - Key Financial Statistics (Contd…)
Five Year Trend - Key Financial Statistics (Contd…) Net Debt / EBITDA Net Debt Equity Ratio 0.93 0.93 0.92 2.95 2.99 0.89 2.49 2.61 2.26 0.80 2014-15 2015-16 2016-17 2017-18 2018-19 2014-15 2015-16 2016-17 2017-18 2018-19 Return on Capital Employed Return on Networth 11.21% 13.22% 12.62% 9.62% 8.23%
Slide 23: Five Year Trend - Key Technical Statistics
Five Year Trend - Key Technical Statistics (Contd…) SUGEN PAF-PLF (%) T&D loss (%) 98.38% 98.46% 7.34% 7.15% 6.81% 98.12% 96.38% 95.86% 6.31% 5.61% 65.26% 62.29% 47.50% 4.09% 3.89% 3.92% 3.59% 35.78% 3.43% 25.70% 2014-15 2015-16 2016-17 2017-18 2018-19 2014-15 2015-16 2016-17 2017-18 2018-19 PAF PLF
Slide 24: Thank You
Contact details: Rishi Shah Torrent Power Limited THANK YOU “Samanvay”, 600 Tapovan, Ambawadi, Ahmedabad 380015 Ph. No. (079) 26628473 Email: IR@torrentpower.com www.torrentpower.com
Slide 25: Media Release: Torrent Power reports Q1 FY 2019-20 results
MEDIA RELEASE Torrent Power reports Q1 FY 2019-20 results Revenue from Operations Rs. 3,736 crs in Q1 FY 2019-20 compared to Rs. 3,528 crs in Q1 FY 2018-19 EBITDA Major Rs. 888 crs in Q1 FY 2019-20 compared to Rs. 819 crs in Q1 FY 2018-19 Highlights Total Comprehensive Income Rs. 274 crs in Q1 FY 20
Slide 26: Media Release: Generation and Distribution
Generation: The Company has an aggregate installed generation capacity of 3,703 MW comprising of 2,730 MW of gas-based capacity, 611 MW of renewable capacity and 362 MW of coal-based capacity. The Company has an additional 841 MW of renewable projects under construction and on completion of the