Adani Energy Solutions Ltd · NSE:ADANIENSOL

Adani Energy Solutions — Q3 FY24 Earnings Presentation

44 slides from Adani Energy Solutions's earnings presentation, January 2024

  1. Slide 1: Adani Energy Solutions Limited Q3 FY24 Results Presentation

    Adani Energy Solutions Limited (Formerly known as Adani Transmission Limited) Q3 FY24 Results Presentation January 2024

  2. Slide 2: Contents

    CONTENTS 04-07 Adani Portfolio 04 09-10 Executive Summary – Q3 FY24 09 Financial Highlights – Q3 FY24 12-20 and 9M FY24 12 22 Debt Profile 22 24-26 Operational Highlights – Q3 FY24 24 ESG Framework 28 28-34 36 36 Recent Awards and Recognition Annexure – Rating and AESL’s 38 38-42 Asset Portfolio

  3. Slide 3: Adani Portfolio

    adani Energy Solutions Adani Portfolio

  4. Slide 4: Adani: A World Class Infrastructure & Utility Portfolio

    Adani: A World Class Infrastructure & Utility Portfolio Infrastructure and Utility Primary Industry Flagship Emerging B2C Core Portfolio Materials, Metal & Incubator Energy & Utility Transport & Logistics Direct to Consumer Mining (56.4%) (63.2%) (72.6%) (73.2%) (65.9%) (100%) AGEL AESL APSEZ Cement

  5. Slide 5: 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 s EBITDA 70% 1,2 EBITDA 92% 1,4 AEL Growth 3x 6 APSEZ Growth 1.4x 6 AGEL Adani’s Core Infra. Platform

  6. Slide 6: Adani: Repeatable, robust & proven transformative model of investment

    Adani: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Centre of Excellence Project Management & Assurance Group AIMSL* Policy - Strategy - Risk Origination Site Development Construction Operation Capital Mgmt Analysis & market Site acquisi

  7. Slide 7: AESL: A platform well-positioned to leverage growth opportunities in energy domain

    AESL: A platform well-positioned to leverage growth opportunities in energy domain RAB expansion through Execution Prowess Strategic Presence Asset Hardening in Discoms Transmission Network of Transmission - Presence in 15 states 8% CAGR growth in RAB in Mumbai Development 20,422 ckm(1) Distribution

  8. Slide 8: AESL - Executive Summary and Key Focus Areas

    Adani Energy Solutions Limited Debt Presentation | February 2 0 2 0 Transmission AESL - Executive Summary and Key Focus Areas 14

  9. Slide 9: Executive Summary – Q3 FY24

    AESL: Executive Summary – Q3 FY24 Operational Update: Other Key Updates: Transmission business: – Added 302 ckm to operational network during the quarter, with total network at 20,422 ckm – AESL won the Global Sustainability Leadership Award 2023 from the World Sustainability Congress for outstandin

  10. Slide 10: Key Focus Areas – FY24 and Beyond

    AESL: Key Focus Areas – FY24 and Beyond Financial Summary – Q3 FY24 Locked-in Growth and Outlook AESL well placed to capture future growth through multiple avenues: • Achieved double digits revenue growth of 19% • Robust under-construction pipeline of Rs. 170 bn in Transmission and Rs 251 bn in • Co

  11. Slide 11: Q3 FY24 Financial Highlights (YoY)

    Revenue Op EBITDA Comparable PAT Rs. 3,615 Cr Rs. 1,454 Cr Rs. 281 Cr 19% up YoY 10% up YoY 1% up YoY Q3 FY24 Financial Highlights (YoY) 11

  12. Slide 12: Consolidated Financial Highlights Q3FY24 YoY

    AESL: Consolidated Financial Highlights Q3FY24 YoY (In Rs Cr) Operational Revenue EBITDA PAT 3615 1732 478# 1708 3037 348^ Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Comparable PAT Cash Profit (ex one-time) 786 280 281 757 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Note: #Q3FY23 Consolidated PAT of Rs 478 Cr Includ

  13. Slide 13: Segment–wise Financial Highlights Q3FY24 YoY

    AESL: Segment–wise Financial Highlights Q3FY24 YoY (In Rs Cr) Operational Revenue EBITDA PAT 2559 461# 1163 2104 1055 246 677 1056 545 933 102^ 18 Transmission Distribution Transmission Distribution Transmission Distribution Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Comparable PAT Cash Profit (ex on

  14. Slide 14: Transmission Utility - Revenue and Operating EBITDA Bridge Q3FY24 YoY

    AESL: Transmission Utility - Revenue and Operating EBITDA Bridge Q3FY24 YoY (In Rs Cr) Revenue (excluding incentive) up 13% supported by Operating EBITDA up 13% driven by strong revenue revenue contribution from new line elements 135 119 (54) 4 ( 14 ) 38 1,029 967 909 859 Q3 FY24 Newly operational A

  15. Slide 15: Distribution (AEML+MUL) - Revenue and Operating EBITDA Bridge Q3FY24 YoY

    AESL: Distribution (AEML+MUL) - Revenue and Operating EBITDA Bridge Q3FY24 YoY (In Rs Cr) Revenue up 22% driven by higher energy demand Operating EBITDA ended 6% higher 372 18 ( 289 ) 450 45 35 7 (5) ( 123 ) 2,559 ( 29 ) 2,104 487 459 Q3 FY24 Sale of Energy Sale of Wheeling Transmission Other Q3 FY2

  16. Slide 16: 9MFY24 Financial Highlights (YoY)

    Revenue Op EBITDA Comparable PAT Rs. 10,657 Cr Rs. 4,077 Cr Rs. 812 Cr 17% up YoY 8% up YoY 26% up YoY 9MFY24 Financial Highlights (YoY) 16

  17. Slide 17: Consolidated Financial Highlights 9MFY24 YoY

    AESL: Consolidated Financial Highlights 9MFY24 YoY (In Rs Cr) Operational Revenue EBITDA PAT 4553 10657 841# 4395 815^ 9117 9MFY23 9MFY24 9MFY23 9MFY24 9MFY23 9MFY24 Comparable PAT Cash Profit (ex one-time) 812 1% 2257 2235 642 9MFY23 9MFY24 9MFY23 9MFY24 Note: #9MFY23 Consolidated Comparable PAT of

  18. Slide 18: Segment–wise Financial Highlights 9MFY24 YoY

    AESL: Segment–wise Financial Highlights 9MFY24 YoY (In Rs Cr) Operational Revenue EBITDA PAT 7777 2807 2824 933# 6480 668 1729 1588 2637 2881 147 -93 Transmission Distribution Transmission Distribution Transmission Distribution 9MFY23 9MFY24 9MFY23 9MFY24 9MFY23 9MFY24 Comparable PAT Cash Profit (ex

  19. Slide 19: Transmission Utility - Revenue and Operating EBITDA Bridge 9MFY24 YoY

    AESL: Transmission Utility - Revenue and Operating EBITDA Bridge 9MFY24 YoY (In Rs Cr) Revenue (excluding incentive) up 9% supported by Operating EBITDA up 9% driven by strong revenue revenue contribution from new line elements 234 290 10 ( 27 ) (106) 50 2,628 2,802 2,412 2,568 9M FY24 Newly operati

  20. Slide 20: Distribution (AEML+MUL) - Revenue and Operating EBITDA Bridge 9MFY24 YoY

    AESL: Distribution (AEML+MUL) - Revenue and Operating EBITDA Bridge 9MFY24 YoY (In Rs Cr) Revenue up 20% driven by higher energy demand Operating EBITDA ended 6% higher 1,297 54 (1,183 ) 1,047 156 121 (23) (4) 7,777 (71) (10 ) 6,480 1,448 1,360 9M FY24 Sale of energy Wheeling Sale of Other Transmiss

  21. Slide 21: 1HFY24 – Debt Profile

    1HFY24 – Debt Profile 21

  22. Slide 22: AESL's Capital Management Program elongates debt maturity and improves credit quality

    AESL’s Capital Management Program elongates debt maturity and significantly improves credit quality Refinancing risk minimized1- above 5 year maturity increased from 12% to 74% As of As of 31 March 16 30 Sept 23 12% (year of inception) < 1 Y - 19% < 1 Y - 6% 1 to 5 Y - 69% 1 to 5 Y - 20% Consolidate

  23. Slide 23: Q3 FY24 Operational Highlights (YoY)

    ▪ Average Transmission System Availability 99.67% ▪ Transmission Network at 20,422 ckm added 302 ckm ▪ Supply Reliability (ASAI) in AEML is above 99.99% ▪ Distribution Loss in AEML further improved to 5.46% Q3 FY24 Operational Highlights (YoY) 23

  24. Slide 24: Transmission Utility – Key Operating Metrics Q3FY24 (YoY)

    AESL: Transmission Utility – Key Operating Metrics Q3FY24 (YoY) Transmission Network Length(2) (ckm) Power Transformation Capacity(2) (MVA) 20,422 54,661 18,795 40,001 Added 302 ckm to the Continuous expansion operational network in in transformation Q3 with total network capacity on account of at 2

  25. Slide 25: Distribution Utility (AEML) – Key Operating Metrics Q3FY24 (YoY)

    AESL: Distribution Utility (AEML) – Key Operating Metrics Q3FY24 (YoY) Supply Reliability (ASAI) (%) SAIDI (mins), SAIFI (nos.) and CAIDI (mins)(1) SAIFI SAIDI CAIDI SAIFI SAIDI CAIDI 99.997% 99.997% 27.23 25.77 Reliability Maintained supply parameters like SAIDI reliability of more and SAIFI remain

  26. Slide 26: Distribution Utility (AEML) – Key Operating Metrics Q3FY24 (YoY)

    AESL: Distribution Utility (AEML) – Key Operating Metrics Q3FY24 (YoY) Consumer base (million) Distribution Loss (%)(1) E-payment (% of total collection) 3.16 3.10 5.60% 80.36% 5.46% Increase in Distribution loss E-payments share 74.87% consumer base improving increasing with reflecting AEML consist

  27. Slide 27: AESL - ESG Framework

    Adani Energy Solutions Limited Debt Presentation | February 2 0 2 0 Transmission AESL is now certified Won the prestigious Continue to maintain Single Use Plastic (SUP) Free AESL won “Global Best-in-class ESG ratings Sustainability Leadership Net Water Positive From global rating agencies: Award 202

  28. Slide 28: ESG Framework

    AESL: ESG Framework United Nations GHG Protocol SBTi Global Compact Guiding Integrated Reporting Policies Guiding Principles and TCFD framework CDP disclosure principle Disclosure Standards UN Sustainable TNFD GRI Standards Development Goals Policy Structure Focus Areas ESG UNSDG aligned: • Environm

  29. Slide 29: Environment

    AESL: Key Environmental Indicators and Milestones Key Performance Indicators Current Status Baseline Medium to Long-term Targets Energy Mix & Emission Intensity AEML has achieved 35% renewable in power mix as of 30% by 2023 - RE share in power procurement 3% FY19 60% by FY27 December 2023 (achieved

  30. Slide 30: Social

    AESL: Social Philosophy and Focus Areas Our social Initiatives are mapped to UNSDG 2030 • Physical infrastructure and e-learning platform in rural areas Access to Education • Educational Kits (2830 students benefited) & School Uniforms Tiroda, Dahanu and to Anganwadi children (5780 students benefite

  31. Slide 31: Social

    AESL: Key Social Indicators and Milestones Target Material Categories Material Themes Key Performance Indicators Baseline (FY23-24) Zero Rate of fatalities per million hours worked Zero (FY 20-21) Work related injury Rate of recordable work-related injuries per million man-hours 0.33 Zero worked (FY

  32. Slide 32: Governance

    AESL: Governance Philosophy and Focus Areas Policies Committees Assurance • Environment Policy covered in BR Policy • Water Policy • Corporate Responsibility Committee • Bio-diversity Policy • Risk Management Committee Corporate Governance • Due –diligence for CoC, HR, ESG etc Responsibility Committ

  33. Slide 33: Governance

    AESL: Key Governance Indicators and Milestones Material Categories Material Themes Key Performance Indicators Baseline Actions Taken and Goals 16.6% - women Board Gender Balance the board composition in terms of men • % of women directors in board improved to Board Gender Diversity directors in boar

  34. Slide 34: Enhanced Safety Culture

    AESL: Enhanced Safety Culture Safety Initiatives During Q3FY24 Safety Performance in Q3FY24 • Safety training: 47,683 man-hours of safety training and awareness during Q3 FY24 Transmission Distribution (AEML) • Positive Safety Culture: Safety Parameters Q3FY24 Q3FY23 Q3FY24 Q3FY23 o Monthly Safety Q

  35. Slide 35: Recent Award and Achievements

    Recent Award and Achievements 35

  36. Slide 36: Recent Awards & Achievements

    AESL: Recent Awards & Achievements Received “Excellence in Procurement Adani Energy Solutions has won the Innovation” & “Outstanding Leader in AEML awarded “Excellence in Road Safety” prestigious Golden Peacock Award in Procurement” award at 8th ISM-India and “Excellence in Innovation in Safety Envi

  37. Slide 37: Annexure – Rating and Operational and Under-construction Asset Portfolio

    Adani Energy Solutions Limited Debt Presentation | February 2 0 2 0 Transmission Annexure– Rating and Operational and Under-construction Asset Portfolio 14

  38. Slide 38: AESL and AEML Credit Ratings

    AESL and AEML Credit Ratings International – ATSOL Obligor Group (Transmission business) (Reg S/ 144A) SPV Ratings - Domestic Rating Agency Facility Rating/Outlook Company Rating Agency Rating Outlook Fitch Dollar Bond BBB-/Stable AESL India Ratings AA+ Negative AESL ICRA A1+ - Moody’s Dollar Bond B

  39. Slide 39: AESL's Operational Asset Portfolio as of Dec 2023 (1/2)

    AESL’s Operational Asset Portfolio as of Dec 2023 (1/2) Adani Energy Solutions Limited 100% 100% 75% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% ATSCL & WTGL, PPP Bikaner ATIL MEGPTCL AEML MUL ATBSPL ATRL RRWTL CWRTL FBTL GTL APTL STL Khetri Discom Discom MTSCL WTPL 8/9/10 Mundr

  40. Slide 40: AESL's Operational Asset Portfolio as of Dec 2023 (2/2)

    AESL’s Operational Asset Portfolio as of Dec 2023 (2/2) Adani Energy Solutions Limited 100% 100% 100% 100% 100% 100% 100% Obra-C Lakadia WRSS – XXI Jam Karur Kharghar Khambaliya WKTL Transmission - Vikhroli Badaun Banaskantha (A) Obra Lakadia Lakadia - Jam Warora Karur Kharghar Banaskantha Bhuj Kham

  41. Slide 41: AESL's Transmission Under-construction Asset Portfolio as of Dec 2023

    AESL‘s Transmission Under-construction Asset Portfolio as of Dec 2023 Adani Energy Solutions Limited Since AESL’s evolution its Transmission Network 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% (ckms) has grown 3.5x and expanded into Distribution MP AEMIL Khavda- Khavda – businesses NKTL WR-SR

  42. Slide 42: AESL's Smart Metering Under-construction Portfolio as of Dec 2023

    AESL‘s Smart Metering Under-construction Portfolio as of Dec 2023 Adani Energy Solutions Limited 100% 100% 100% 100% 100% 100% 100% 100% 100% APEPDCL – APCPDCL – APSPDCL – MSEDCL MSEDCL BEST APDCL NBPDCL UPCL Phase 1 & 2 Phase 1 & 2 Phase 1 & 2 NSC-05 NSC-06 BEST Smart NE Smart Adani Adani Adani Ada

  43. Slide 43: Legal Disclaimer

    Legal Disclaimer The information contained in this presentation is provided by Adani Energy Solutions Limited (together with its subsidiaries, the “Company” or “AESL”) to you solely for your reference and for information purposes only. This presentation is highly confidential and is being given sole

  44. Slide 44: Thank You

    MUSHKILON K\ adani , NAHI SUNTE, HUM KARKE DIKHATE HAIN. #HumKarkeDikhateHain — adani Energy Solutions Thank You

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