Nishat Power Limited · PSX:NPL
Nishat Power — FY2022 Earnings Presentation
14 slides from Nishat Power's earnings presentation, June 2022
Slide 1: Nishat Power Limited Corporate Briefing Session
NISHAT POWER LIMITED Corporate Briefing Session on Annual Audited Accounts for the Financial Year ended June 2022
Slide 2: Contents
Contents ❑ Company Brief ❑ Operational Highlights ❑ Financial Highlights ❑ Strategic/Operational Developments ❑ Agreements ❑ Challenges ❑ Business outlook ❑ Questions and Answers
Slide 3: Company Brief
Company Brief ❑ 200 MW RFO Fired – Combined Cycle Thermal Power Plant ❑ Term of Power Purchase Agreement – 25 years ❑ Located at 66KM on Multan Road, Tehsil Pattoki ❑ Subsidiary of Nishat Mills Limited with 51% equity ownership ❑ Established under the “Power Policy 2002” ❑ Incorporated in year 2007
Slide 4: Operational Highlights
Operational Highlights Capacity Utilization %age 80% 68% 70% 60% 50% 46% 39% 40% 31% 30% 20% 16% 10% 0% Year 2018 Year 2019 Year 2020 Year 2021 Year 2022 The plant operated at average capacity factor of 794GWh:46.42% (2021: 523GWh :30.59%) during the year. Recovery has been observed due to internati
Slide 5: Operational Highlights
Operational Highlights Capacity Utilization (%age) Financial Year 2022 (46%) vs 2021 (31%) FY 2021 FY 2022 80% 68% 65% 65% 65% 67% 69% 70% 58% 56% 60% 52% 52% 47% 49% 50% 43% 40% 34% 31% 30% 21% 15% 19% 20% 14% 6% 11% 10% 6% 5% 3% 0% Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Significantly high
Slide 6: Financial Highlights
Financial Highlights Rs in million FY 2021 FY 2022 25,000 23,684 20,000 15,000 11,433 10,000 5,000 3,429 3,875 2,681 3,323 9.38 7.57 - Sales Gross Profit Net Profit Earning per Share Profits have increased mainly due to higher generation, increase in tariff due to indexation and reduction in short t
Slide 7: Financial Highlights
Financial Highlights Rs/ M.Ton July 2021 June 2022 200,000 176,933 150,000 100,000 80,963 50,000 - Avg. HFO Price Source: NEPRA state of industry report Avg Furnace oil prices have increased ~ 2 times over the course of FY 2022
Slide 8: Agreements
Agreements Timeline of Significant Events Date Description Master Agreement, PPA Amendment Agreement and other agreements. 12-Feb-21 FIFO payment method being followed by the Power Purchaser. Capacity dispute related Other Force Majeure Event 68 days Period June 09, 2021 to completed for settlement
Slide 9: Strategic/Operational Developments
Strategic/Operational Developments Maintenance Reserve The maintenance of Power Plant involves cyclical activities and costs. To cater for major maintenance costs in coming years, the management had created a capital reserve amounting to Rs.3bln, which is considered sufficient to account for upcomin
Slide 10: Challenges
Challenges Receivables and Circular Debt. Rs in mln Trade Receivable - FY 2021 & 2022 19,620 19,483 19,725 20,000 18,964 18,491 17,392 15,412 15,142 15,000 11,533 10,000 9,286 6,005 5,000 4,425 3,240 3,565 3,348 1,623 - Sep-20 Dec-20 Mar-21 Jun-21 Sep-21 Dec-21 Mar-22 Jun-22 Receipts in Quarter Tota
Slide 11: Challenges
Challenges Rs in mln Liquidity & Dividend Payouts 20,000 18,233 18,964 60% 18,000 15,643 16,000 49% 48% 50% 14,000 12,329 40% 11,533 12,000 10,000 8,944 30% 8,000 6,420 4,751 3,642 20% 6,000 4,579 4,488 20% 4,000 1,799 17% 10% 14% 14% 2,000 - 0% 2017 2018 2019 2020 2021 2022 Short term borrowings Re
Slide 12: Business Outlook
Business Outlook Circular Debt • We foresee circular debt to remain a challenge particularly due to increase in fuel prices. Capacity Utilization • The plant kept on being utilized during the summer months, due to the unique technological advantage of Company’s plant which can produce power during p
Slide 13: Questions and Answers
NISHAT POWER LIMITED Questions and Answers
Slide 14: Thank You
NISHAT POWER LIMITED Thank You