Adani Power Limited · NSE:ADANIPOWER
Adani Power — Q3 FY2021 Earnings Presentation
26 slides from Adani Power's earnings presentation, February 2021
Slide 1: Adani Power Limited Result Presentation Q3 FY 2020-21
Adani Power Limited Result Presentation Q3 FY 2020-21
Slide 2: 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 3: Contents
Contents 1 Adani Group 2 Adani Power Limited 3 APL Quarterly Performance Highlights 4 Revenue and EBITDA Mix 5 Debt Profile STRICTLY CONFIDENTIAL
Slide 4: Adani Group
1 Adani Group STRICTLY CONFIDENTIAL
Slide 5: Adani Group: A world class infrastructure & utility portfolio
Adani Group: A world class infrastructure & utility portfolio Transport & Logistics Energy & Utility Adani Portfolio Portfolio • Marked shift from B2B to B2C businesses – 63.5% 100% 75% 55% • ATGL – Gas distribution APSEZ SRCPL ATL AGEL network to serve key Port & Logistics Rail T&D Renewables geogr
Slide 6: Adani Group: Decades long track record of industry best growth rates
Adani Group: Decades long track record of industry best growth rates across sectors Port Cargo Throughput (MT) Renewable Capacity (GW) Transmission Network (ckm) CGD7 (GAs8 covered) 45% 12% 161% 21% 2.5x 6x 3x 30% 1.5x 5% 7% 25% Industry APSEZ Adani Industry AGEL Adani Industry ATL Industry AGL 2014
Slide 7: Adani Group: Repeatable, robust & proven transformative model of investment
Adani Group: Repeatable, robust & proven transformative model of investment Phase Development Operations Post Operations Origination Site Development Construction Operation Capital Mgmt Activity • Site acquisition • Engineering & design • Redesigning the • Analysis & market • Life cycle O&M capital
Slide 8: Adani Power Limited
2 Adani Power Limited STRICTLY CONFIDENTIAL
Slide 9: APL at a glance
APL at a glance Generation capacity Largest private sector IPP2 Project Capex/ MW Development 14 GW 16% / 6% 5.2 cr. (12,4501 MW Operational / (of India’s private/aggregate coal + lignite (Operational projects) 1,600 MW under construction) generation capacity) FY 2019-20 Commercial Availability Wate
Slide 10: Strategically located, diversified operating fleet
Strategically located, diversified operating fleet 14 GW of modern and efficient thermal power portfolio, with 12 GW operating capacity 100% 100% 100% 100% 100% 100% 100% Godda Udupi Tiroda Raipur Raigarh Kawai Mundra (Jharkhand) (Karnataka) (Maharashtra) (Chhattisgarh) (Chhattisgarh) (Rajasthan) (G
Slide 11: Superior operating performance
Superior operating performance Plant Load Factor (%) 76% Consistently high 70% 70% PLF in comparison 67% 64% 62% 60% 64% to all India average 61% 60% 61% 61% 59% 56% 55% 55% 55% 56% 55% 51% 53% (FY18 lower due to coal shortage) FY15 FY16 FY17 FY18 FY19 FY20 9MFY21 APL All India Private Commercial Av
Slide 12: O&M: Par Excellence
O&M: Par Excellence • ~45,000 Man-years of • Reliability centred maintenance experienced Manpower (RCM) • Capability Building & skill • Zero Forced Outage program development (APTRI) • Thrust on automation & • Knowledge management through mechanization dissemination of best practices • Support from
Slide 13: Sector-leading logistics capability as key competitive advantage
Sector-leading logistics capability as key competitive advantage Fuel management is key to revenue stability Plant and Mine Locations Only IPP in India with in-house, mine-to-plant logistics capability Handling 49 MMTPA coal, 6 MMTPA Fly Ash Mundra Kawai Multiple agencies and touch points need NCL S
Slide 14: APL Quarterly Performance Highlights
3 APL Quarterly Performance Highlights STRICTLY CONFIDENTIAL
Slide 15: Recent Key Highlights
Recent Key Highlights Operational Highlights • Mundra achieved highest ever monthly station PLF of 93.01% during Oct’20 • Kawai achieved highest ever monthly fly ash sale of 1.32 MT during Oct’20 • Kawai achieved lowest ever Auxiliary Power Consumption of 4.93% during Dec’20 • Raipur plant achieved
Slide 16: Power demand scenario in key States
Power demand scenario in key States BU : Billion Units Power demand during Q3 FY21 (BU) * 37.2 39.1 27.5 30.0 19.4 22.4 15.9 16.2 Q3 FY20 11.4 12.3 Q3 FY21 Gujarat Haryana Maharashtra Rajasthan Karnataka Power demand during 9M FY21 (BU) * 115.4 108.1 86.0 81.2 61.0 62.8 51.3 48.2 9M FY20 44.1 41.5 9
Slide 17: Ensuring optimum availability
Ensuring optimum availability BU : Billion Units Commercial Availability^ PLF Generation (BU) Sales (BU) 95% 91% 95% 91% 51.3 48.2 75% 47.5 44.4 65% 67% 59% 20.7 19.1 17.8 16.4 Q3 FY20 Q3 FY21 9M FY20 9M FY21 Q3 FY20 Q3 FY21 9M FY20 9M FY21 • Continuous focus on maintaining high levels of plant avai
Slide 18: Snapshot of financial performance
Snapshot of financial performance INR Crores % var % var Summary Income Statement Q3 FY21 Q3 FY20 9M FY21 9M FY20 (Q3 vs Q3) (9M vs 9M) Operating Revenue 6,894.84 6,574.82 5% 19,847.88 20,295.29 -2% Other Income 204.36 109.69 86% 1,399.79 1,218.94 15% Total Revenue 7,099.20 6,684.51 6% 21,247.67 21,
Slide 19: Regulatory receivables update
Regulatory receivables update INR Crores Claims under announced regulatory orders Asset Claims raised till Receipts till Nature of Claim Status Name 31st Dec 2020 31st Dec 2020 Carrying Carrying Principal Total Principal Total cost cost Domestic Coal Shortfall Approved by APTEL 741 352 1,093 292 --
Slide 20: Revenue and EBITDA Mix
4 Revenue and EBITDA Mix STRICTLY CONFIDENTIAL
Slide 21: Q3 FY 2020-21: Sales Mix
Q3 FY 2020-21: Sales Mix MU : Million Units Q3 FY20 (MU) Q3 FY21 (MU) 16,437 MU 19,144 MU 2,622 5,738 + 16% 13,406 13,815 PPA Merchant/Short term PPA Merchant/Short term 12,450 MW 12,450 MW Avg. PPA tariff Rs. 3.99 / kWh Rs. 3.83 / kWh Avg. Merchant/Short Rs. 3.01 / kWh Rs. 2.64 / kWh term tariff •
Slide 22: Q3 FY 2020-21: Revenue Mix
Q3 FY 2020-21: Revenue Mix INR Crores Q3 FY20 Q3 FY21 73 471 153 561 64 -1192 -626 Regulated Utility Near-Pithead 681 2587 Hinterland 2772 Coastal Holdco 3171 3045 Non-recurring 1029 revenue 995 Consol. Revenue Rs. 6,685 Cr + 6% Rs. 7,099 Cr Adj. Revenue* Rs. 6,621 Cr + 6% Rs. 7,026 Cr • Revenue fro
Slide 23: Q3 FY 2020-21: EBITDA Mix
Q3 FY 2020-21: EBITDA Mix INR Crores Q3 FY20 Q3 FY21 33 223 -197 236 -316 Regulated Utility 50 109 Near-Pithead Hinterland 258 620 Coastal 386 Holdco 863 Non-recurring 379 EBITDA 397 343 Consol. EBITDA Rs. 1,557 Cr + 17% Rs. 1,827 Cr Adj. EBITDA* Rs. 1,507 Cr + 19% Rs. 1,794 Cr • Improved contributi
Slide 24: Debt Profile
5 Debt Profile STRICTLY CONFIDENTIAL
Slide 25: Consolidated Debt Profile
Consolidated Debt Profile INR Crores Particulars As on 31st Dec, 2020 As on 31st Mar, 2020 Senior Secured Loans (Rupee Term Loans + ECB) Existing entities 31,899 32,598 Under-construction project 3,250 2,109 Total Senior Secured Loans 35,149 34,707 Working Capital Loans 9,215 7,705 ICD and other uns
Slide 26: Thank You
adani Power Thank You