Adani Enterprises Limited · NSE:ADANIENT
Adani Enterprises — Investor Presentation (July 2022)
36 slides from Adani Enterprises's investor presentation, Jul 24, 2022
Slide 1: Submission of presentation for interaction with Analysts / Investors
24th July, 2022 BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Mumbai – 400001. Bandra (E), Mumbai – 400051. Scrip Code: 512599 Scrip Code: ADANIENT Dear Sir / Madam, Sub: Submission of presentation for interaction with Analysts /
Slide 2: Adani Portfolio Overview
Adani Portfolio Overview July 2022 Sunidhi Investor Meet – Group Investment Profile
Slide 3: Table of Contents
Table of Contents 1 Adani Portfolio Overview 2 ESG 3 Strategic Partnerships 4 Capital Market Track Record 5 Financial Risk Management 6 Investment Plans 7 Conclusion 8 Adani Listed Entities’ Portfolio
Slide 4: Adani Portfolio Overview
1 Adani Portfolio Overview STRICTLY CONFIDENTIAL
Slide 5: Adani: A World Class Portfolio
Adani: A World Class Portfolio ~USD 171 bn1 Combined Market Cap Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C Materials, Metal & Incubator Energy & Utility Transport & Logistics Direct to consumer Mining (72.3%) (60.5%) (73.9%) (65.6%) (100%) (100%) AGEL ATL APSEZ AE
Slide 6: Adani Portfolio: Decades long track record of industry best growth rates
Adani Portfolio: Decades long track record of industry best growth rates Port Cargo Throughput (MMT) Renewable Capacity (GW) Transmission Network (ckm) CGD7 (GAs8 covered) 132% 12% 36% 18% 3x 5x 3x 25% 1.4x 4% 6% 25% Industry Adani APSEZ Industry Adani AGEL Industry ATL Industry AGL 2014 972 MMT 113
Slide 7: Portfolio: Repeatable, robust & proven model
Adani Portfolio: Repeatable, robust & proven model Phase Development Operations Post Operations Origination Site Development Construction Operation Capital Mgmt Activity • Analysis & market • Site acquisition • Engineering & design • Life cycle O&M • Redesigning capital structure intelligence planni
Slide 8: ESG – in action
2 ESG – in action STRICTLY CONFIDENTIAL
Slide 9: Portfolio: Robust ESG Assurance Framework
Adani Portfolio: Robust ESG Assurance Framework • APSEZ – Carbon Neutral, Water Positive, ZWL, SUP Free, Zero Accident • ATL – Water Neutral, ZWL, SUP free, No Biodiversity Net Loss, Zero Accident Our • AGEL – Water Neutral, SUP free, No Biodiversity Net Loss, Zero Accident Commitment • ATGL – Zero
Slide 10: ESG credentials of Adani Portfolio companies
Adani Portfolio: ESG credentials of Adani Portfolio companies APSEZ APL ATL AGEL ATGL AEL TCFD Supporter SBTi Commitment Not applied UNGC Member Not applied IBBI Member Developing (Commencing with Developing DJSI formal S&P ESG (2021 Score) (57/ 100) (62/100) (63/ 100) (66/ 100) ratings) CDP – CC (2
Slide 11: Key Environmental commitments of Adani Portfolio companies
Adani Portfolio: Key Environmental commitments of Adani Portfolio companies APSEZ APL ATL AGEL ATGL AEL Carbon Neutrality NA NA Water Neutrality NA Zero Waste to Landfill SUP Free Sites Developing Developing Mangrove / Terrestrial NA NA Afforestation Zero Biodiversity Net Loss NA NA: No stated commi
Slide 12: Strategic Partnerships
3 Strategic Partnerships STRICTLY CONFIDENTIAL
Slide 13: Trusted steward of partners' capital
Adani Portfolio -Trusted steward of partners’ capital Core Principles of APSEZ I ATGL | AGEL Seamless Work with Partnership Diverse Relationships APSEZ AEL APSEZ ATGL | APSEZ Partnerships forged at different business stages- ✓ Trust • Matured (ATGL, AEML) • Developing (AGEL) ✓ Transparency • Concept
Slide 14: Case Study: Expansion in Partnership with TotalEnergies
Case Study: Expansion in Partnership with TotalEnergies One of the largest Energy players in the world with presence across 130 countries Set to cover with renewable electricity all power 2050 Net Zero ambition Active in renewables since needs of its industrial sites in EU & in the USA >$3 bn/yr net
Slide 15: Case Study: India's 1st Platform Investment
Case Study: India’s 1st Platform Investment Investment arm of Abu Dhabi Royal Family GCC’s most valued firm 7800+ Employees AED 88 Bn Investment Asset value 26 Operating Assets across world Primary Business acquisitions like – Real Estate, 9 Fastest Growing Holding Co in Middle East Utilities, IT, H
Slide 16: Strong domestic relationships supported by global participation
Adani Portfolio: strong domestic relationships supported by global participation ASIA NORTH AMERICA EUROPE MIDDLE EAST India 15
Slide 17: Deep relationships driving access to capital
4 Deep relationships driving access to capital STRICTLY CONFIDENTIAL
Slide 18: Portfolio: Global Track Record
Adani Portfolio: Global Track Record 3 Years to date Debt Program Equity Capital Program Debt Capital Market Go to Market Facility 3.30 Bn, 1.21 Bn, 1.25 Bn, 21% 15% 16% 3.65 Bn, 4.00 Bn, 44% 50% 0.75 Bn, 9% 0.50 Bn, 3% 8.20 Bn, 1.10 Bn, 51% 14%* 4.00 Bn, 25% 2.65 Bn, 32% 1.64 Bn, 20% 0 - 5 Yrs 5 -
Slide 19: Case Study: Syndication success in volatile market
Case Study: Syndication success in volatile market Navi Mumbai Kutch Copper Refinary Holcim Acquisition Underwriter BarCap, DB & SCB – INR Underwriter SBI – INR 12,770 Underwriter SBI – INR 6,071 42,000 1 SBI Hold 5,000 2 SBI Hold 1,846 3 Underwriter 8,100 Portion Portion Hold PNB 2,550 BoB 1,750 MU
Slide 20: Capital access supported by Robust Financial Risk Management
5 Capital access supported by Robust Financial Risk Management STRICTLY CONFIDENTIAL
Slide 21: Transformation in Financial Risk Management Profile
Adani Portfolio: Transformation in Financial Risk Management Profile Mar 2013 Mar 2016 Mar 2022 100 0 7.6x 9.0 x Highest Asset Highest Asset Overall Group 900 RR EBIDTA Net Debt / RR EBIDTA Rating 7.0 x Rating was AA- Rating was AA+ Rating - AA- 800 700 4.0x 3.7x 3.4x 5.0 x 600 3.0 x RR EBIDTA INR 6
Slide 22: A World Class Infrastructure & Utility Portfolio
Adani Portfolio: A World Class Infrastructure & Utility Portfolio % Debt % RR EBIDTA Completely De-Risked Debt & EBIDTA > 20 Years 1.67% 1.45% Project Life matching Debt & EBIDTA with rate risk > 20 42.50 % of the 0.72% 0.60% Equity value is fully Years Fully Priced protected from any Risk Coverage
Slide 23: Massive deleveraging at promoter in a high growth phase
Adani: Massive deleveraging at promoter in a high growth phase Promoter Gross Pledge position 70% 60% 50% 40% 30% 20% 10% 0% 31-Oct-19 31-Mar-20 31-Mar-21 31-Mar-22 31-Jul-22 APSEZL 37% 58% 16% 13% 12% ATL 38% 54% 12% 7% 6% AEL 28% 50% 6% 4% 3% AGEL 17% 13% 1% 1% 3% Growth funded by India’s largest
Slide 24: Investment Plans
6 Investment Plans STRICTLY CONFIDENTIAL
Slide 25: Core infrastructure & utility Investment Plan
Adani: Core infrastructure & utility Investment Plan over 5 – 10 Years H2 Green Hydrogen $ 50 – 70 Bn investment for Green Eco System JV Partner- TTE Energy & Utility Strategic Partners- Green Energy $ 23 Bn investment for Renewable Assets TTE, IHC – All the businesses are fully funded through Debt
Slide 26: Primary Industry & Emerging Businesses Investment Plan
Adani: Primary Industry & Emerging Businesses Investment Plan over 5 – 10 Years $ 2 Bn investment for developing 1 MMTPA Petro Chem Materials PVC manufacturing facility $ 10 Bn investment for acquiring 70 MMTPA Cement manufacturing facility – With the largest Metals $ 1 Bn investment for developing
Slide 27: Conclusion
7 Conclusion STRICTLY CONFIDENTIAL
Slide 28: Conclusion
Conclusion – Fully funded growth supported by largest Equity Program in India Equity – Across the Portfolio for $ 16 Bn – Continued De-leveraging – Reduced Net Debt / EBIDTA Debt – Progressive improvement in Ratings (e.g.: AEL – from A to A+) – All Capital Management Plan are on track as committed d
Slide 29: Adani Listed Entities' Portfolio
7 Adani Listed Entities’ Portfolio STRICTLY CONFIDENTIAL
Slide 30: Adani Enterprises Ltd. (AEL)
Adani Enterprises Ltd. (AEL) Shareholding Structure (%): High cashflow and high growth sustainable infrastructure businesses Adani family 74.9% Particulars (INR cr) FY 18 FY 19 FY20 FY21 FY22 Public Shareholding 25.1% Revenue 39,078 40,951 44,086 40,291 70,433 • Incubator for Adani Portfolio - Demon
Slide 31: Adani Green Energy Ltd. (AGEL)
Adani Green Energy Ltd. (AGEL) Shareholding Structure (%): Industry leading EBITDA Growth driven by Robust capacity addition & Adani family 61.3% Analytics driven O&M Particulars FY18 FY19 FY20 FY21 FY22 TotalEnergies 20.0% PPA Capacity (MWAC) 1,918 1,970 2,545 3,470 5,410 Public Shareholding 18.7%
Slide 32: Adani Transmission Ltd. (ATL)
Adani Transmission Ltd. (ATL) Shareholding Structure (%): High EBITDA Growth while still demonstrating credit discipline and maintaining Investment Grade (IG) Rating Adani family 74.9% Particulars (INR cr) FY 18 FY 19 FY20 FY21 FY22 Public Shareholding 25.1% Revenue 4,055 7,561 11,681 10,459 12,465
Slide 33: Adani Total Gas Ltd. (ATGL)
Adani Total Gas Ltd. (ATGL) Shareholding Structure (%): High cashflow and High growth sustainable infrastructure business Adani family 37.4% Particulars (INR cr) FY 18 FY 19 FY20 FY21 FY22 TotalEnergies 37.4% Revenue 1,465 1,910 2,035 1,829 3,248 Public Shareholding 25.2% EBIDTA 374 541 639 749 815
Slide 34: Adani Ports and Special Economic Zone Ltd. (APSEZ)
Adani Ports and Special Economic Zone Ltd. (APSEZ) Shareholding Structure (%): Consistent Revenue & EBITDA growth Adani family 65.0% Particulars (INR cr) FY 18 FY 19 FY20 FY21 FY22 Public Shareholding 35.0% Revenue 11,323 10,925 11,873 12,550 18,089 EBIDTA 7,067 7,145 7,565 8,063 11,906 • Largest tr
Slide 35: Adani Wilmar Ltd. (AWL)
Adani Wilmar Ltd. (AWL) Shareholding Structure (%): Consistent Revenue & EBITDA growth Adani Enterprises Ltd 44.0% Particulars (INR cr) FY 18 FY 19 FY20 FY21 FY22 Wilmar Pte 44.0% Revenue 26,561 28,920 29,767 37,196 52,361 Public Shareholding 12.0% EBIDTA 1,017 1,253 1,419 1,431 1,725 • Adani Portfo
Slide 36: Thank You
Thank You
Adani Enterprises — Investor Presentation (July 2022) on 6ix