Tata Power Company Limited · NSE:TATAPOWER
Tata Power — The Tata Power Company — Q3 FY23 Earnings Presentation
34 slides from Tata Power's earnings presentation, Feb 3, 2023
Slide 1: Financial Results – Q3 FY23
The Tata Power Company Limited Financial Results – Q3 FY23 3rd February, 2023
Slide 2: Disclaimer
DISCLAIMER This document does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any
Slide 3: Manifesting a Greener Tomorrow
MANIFESTING A GREENER TOMORROW Water Neutral Net Zero Carbon Zero Waste to Landfill Before 2030 Before 2045 Before 2030 3
Slide 4: Q3 FY23 Business Highlights
Q3 FY23 BUSINESS HIGHLIGHTS 4
Slide 5: Q3 FY23 Highlights
Q3 FY23 HIGHLIGHTS TPREL receives ‘Letter of Awards’ for: 255 MW Hybrid Project for TPDDL in Karnataka, with a green shoe option of additional 255MW 150 MW Solar Project for MSEDCL in Maharashtra Tata Power & Tata Motors signs PPA for a 7 MW captive solar power project at its Pantnagar plant
Slide 6: Solar Utility Scale EPC Update
SOLAR UTILITY SCALE EPC UPDATE WELL DIVERSIFIED UTILITY SCALE ORDER BOOK TPSSL- LARGE EPC ORDER BOOK (IN ₹ CRORE) Customer AC Cap (MW) 763 584 Tata Power Group 1,475 NTPC 770 NHDC 88 SECI 140 15,261 15,440 SJVN 1,100 NHPC 340 Total Capacity as on 31st Dec, 2022 3,914 Order Book as on 31st Dec, 2022
Slide 7: Tata Power – EZ Charge
TATA POWER – EZ CHARGE OPERATIONAL HIGHLIGHTS EV CHARGING PLATFORM STATISTICS Public and Captive Chargers 109k+ 500k+ Charging Units Cumulative E- 19 million (Energised) Registered Sessions: Consumed (in minutes of mobility Cumulative till Sep 2023 Q3 FY 23 Users kwh) Charging Supported (in Session
Slide 8: Solar Business - Quarter Highlights
SOLAR BUSINESS - QUARTER HIGHLIGHTS ROOFTOP SOLAR SOLAR PUMP • Achieved ~41 % revenue growth over Q3 FY22 • Order book at Q3 end stands at Rs. 1,300+ crore • Channel network crosses 450+ • Achieved ~138% growth over across 275+ districts Q3 FY22 • 3 new tie-ups and 4 new schemes • Key orders won in
Slide 9: Odisha Discoms - Quarter Highlights
ODISHA DISCOMS- QUARTER HIGHLIGHTS TPCODL TPSODL TPWODL TPNODL On track to Achieved Achieved 105% Achieved achieve AT&C highest ever collection 103.5% loss of 12-15% consumer efficiency in Q3 collection by FY 2025 coverage of FY23. efficiency in Q3 65%. FY23. Reducing AT&C losses => Promising Q3 FY2
Slide 10: Q3 FY23 Financial Highlights
Q3 FY23 FINANCIAL HIGHLIGHTS 10
Slide 11: Q3 FY23 Financial Highlights
Q3 FY23 FINANCIAL HIGHLIGHTS ₹ Crore Strong all round operational performance across the businesses; PAT up by 91% YoY Underlying EBITDA (Including Share of Reported EBITDA* PAT (before exceptional items) JVs & Associates) Q2 FY23 Q3 FY23 Q3 FY22 Q2 FY23 Q3 FY23 Q3 FY22 Q2 FY23 Q3 FY23 Q3 FY22 2,043
Slide 12: Comfortable Debt Position for Sustainable Growth
COMFORTABLE DEBT POSITION FOR SUSTAINABLE GROWTH BALANCE SHEET CONTINUES TO STRENGHTHEN NET DEBT (IN ₹ CRORE) DECLINES FURTHER IN Q3FY23 Net Debt (₹ Crore) 39,486 39,536 38,131 Q2FY23 Q3FY23 Q3FY22 DEBT PROFILE 1.23 Net Debt to Equity v 1.58 in Q3 FY22 Net Debt to Underlying 3.04 EBITDA (on rolling
Slide 13: Installed Generation Capacity as on 31st Dec 22
INSTALLED GENERATION CAPACITY AS ON 31ST DEC 22 GENERATION PORTFOLIO ~ 37% CLEAN & GREEN Clean and Green Break-up Clean & Waste Heat Business Model MW Thermal Green Hydro Recovery / Wind Solar Total BFG Captive 497 174 323 323 Merchant 246 246 126 120 PPA/ Fixed Tariff (Bid/ Others) 4,645 4,338 307
Slide 14: T&D Portfolio and Renewable Pipeline as on 31st Dec
T&D PORTFOLIO AND RENEWABLE PIPELINE AS ON 31ST DEC 22 CURRENT T&D PORTFOLIO LARGE SOLAR PROJECT DEVELOPMENT PIPELINE Transmission Business Model CKM Customer State Capacity (MW) Mumbai Transmission Regulated 1,224 KSEB RJ 110 Powerlinks (JV) Regulated 2,328 Tata Steel JH 15 Total 3,552 GUVNL GJ 35
Slide 15: Q3 FY23 Operational Highlights
Q3 FY23 OPERATIONAL HIGHLIGHTS Generation - Availability Transmission - Availability 99 98 100 99 98 98 99 100 100 93 92 91 92 81 100 Powerlinks 100 40 100 100 MO - Transmission 100 Thermal Mundra MO - Hydro Wind Solar (excl. 100 Mundra) Plant Load or Capacity Utilization AT&C Losses - Distribution
Slide 16: Financial Results
TATA POWER FINANCIAL RESULTS 16
Slide 17: Consolidated Performance – Q3 FY23
CONSOLIDATED PERFORMANCE – Q3 FY23 ₹ Crore unless stated Particulars Op Income EBITDA^^ PAT Q3 FY23 Q3 FY22 Q3 FY23 Q3 FY22 Q3 FY23 Q3 FY22 Consolidated before exceptional items 14,339 11,015 2,818 1,841 1,052 552 Standalone & Key Subsidiaries Tata Power (Standalone) 5,496 3,151 2,841 482 1,504 (407
Slide 18: Consolidated Performance – YTD FY23
CONSOLIDATED PERFORMANCE – YTD FY23 ₹ Crore unless stated Particulars Op Income EBITDA^^ PAT YTD FY23 YTD FY22 YTD FY23 YTD FY22 YTD FY23 YTD FY22 Consolidated before exceptional items 43,278 30,491 6,968 5,938 2,871 1,523 Standalone & Key Subsidiaries Tata Power (Standalone) 15,654 8,028 5,795 2,42
Slide 19: Share of JV & Associates
SHARE OF JV & ASSOCIATES ₹ Crore unless stated Particulars % Op Income EBITDA PAT Op Income EBITDA PAT Q3 Q3 Q3 Q3 Q3 Q3 YTD YTD YTD YTD YTD YTD Share FY23 FY22 FY23 FY22 FY23 FY22 FY23 FY22 FY23 FY22 FY23 FY22 Coal Companies 30% / 5,193 3,473 1,119 1,366 955 623 15,470 9,113 4,191 3,132 3,047 1,423
Slide 20: Underlying Consolidated EBITDA
UNDERLYING CONSOLIDATED EBITDA ₹ Crore unless stated Particulars Q3 FY23 Q3 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Reported EBITDA 2,818 1,841 977 6,968 5,938 1,030 Add: PAT of JV Companies 998 658 340 3,020 1,647 1,373 KPC & BSSR 955 623 332 3,047 1,423 1,624 Coal Infra 29 47 (18) 40 131 (92) Power
Slide 21: Tata Power (Consolidated) Financial Performance
TATA POWER (CONSOLIDATED) FINANCIAL PERFORMANCE ₹ Crore unless stated Particulars Q3 FY23 Q3 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance Remarks Higher availability in Mundra, higher sales across distribution Operating Income 14,339 11,015 3,324 43,278 30,491 12,787 companies and capacit
Slide 22: Tata Power (Standalone) Financial Performance
TATA POWER (STANDALONE) FINANCIAL PERFORMANCE ₹ Crore unless stated Particulars Q3 FY23 Q3 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance Remarks Operating Income 5,496 3,151 2,345 15,654 8,028 7,626 Order impact in Mundra and higher prices in DISCOMs Operating Expenses 4,385 2,747 (1,638)
Slide 23: Maithon Power Limited – Highlights
MAITHON POWER LIMITED – HIGHLIGHTS ₹ Crore unless stated Particulars Q3 FY23 Q3 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance Remarks Generation (MUs) 2,063 1,863 200 6,093 5,946 147 Sales (MUs) 2,029 1,756 273 6,018 5,702 316 Availability (%) (Plant) 98% 98% 0% 97% 98% -2% PLF % 89% 80% 9
Slide 24: Prayagraj Power Generation Co Ltd. - Highlights
PRAYAGRAJ POWER GENERATION CO LTD. - HIGHLIGHTS ₹ Crore unless stated Particulars Q3 FY23 Q3 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance Remarks Generation (MUs) 3,256 2,986 270 9,632 9,005 627 Sales (MU) 3,069 2,812 257 9,077 8,480 597 Availability (%) 86% 87% 0% 82% 84% -2% PLF % 74% 6
Slide 25: Tata Power Delhi Distribution Ltd - Highlights
TATA POWER DELHI DISTRIBUTION LTD - HIGHLIGHTS ₹ Crore unless stated Particulars Q3 FY23 Q3 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Purchase (Mus) 2,116 2,081 35 8,562 7,389 1,173 Sales (Mus) 1,987 1,936 51 8,018 6,896 1,122 Revenue Per Unit 11.1 10.1 0.9 10.2 8.7 1.5 PPC Per Unit 8.0 6.5 -1.53 7.8 6
Slide 26: Q3 FY23 Odisha Discoms – Highlights
Q3 FY23 ODISHA DISCOMS – HIGHLIGHTS ₹ Crore unless stated Particulars TPCODL TPSODL TPWODL TPNODL Purchase (MUs) 2,153 978 3,487 1,533 Sales (MUs) 1,620 746 2,875 1,342 Revenue per unit 6.23 6.75 5.74 5.92 Power Cost per unit 3.24 2.52 3.97 3.46 Actual Technical losses (%) 24% 24% 19% 17% Actual AT&
Slide 27: Tata Power Renewable Energy Conso (excl WREL) – Highlights
TATA POWER RENEWABLE ENERGY CONSO (EXCL WREL) – HIGHLIGHTS ₹ Crore unless stated Particulars Q3 FY23 Q3 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance Remarks Capacity - Total (MW) 2,851 1,889 962 2,851 1,889 962 Capacity - Wind (MW) 782 782 0 782 782 0 Capacity - Solar (MW) 2,070 1,107 962
Slide 28: Walwhan Renewable Energy Ltd - Highlights
WALWHAN RENEWABLE ENERGY LTD - HIGHLIGHTS ₹ Crore unless stated Particulars Q3 FY23 Q3 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance Remarks Capacity - Total (MW) 1,010 1,010 0 1,010 1,010 0 Capacity - Wind (MW) 146 146 0 146 146 0 Capacity - Solar (MW) 864 864 0 864 864 0 Generation (MUs)
Slide 29: Tata Power Solar Systems Limited – Highlights
TATA POWER SOLAR SYSTEMS LIMITED – HIGHLIGHTS ₹ Crore unless stated Particulars Q3 FY23 Q3 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance Remarks Operating Income 1,430 1,562 (132) 3,918 5,026 (1,109) Lower excecution of EPC projects due to deferment Operating expenses 1,334 1,411 77 3,685
Slide 30: Green Company – Consolidated View
GREEN COMPANY – CONSOLIDATED VIEW ₹ Crore unless stated Key Parameters - GreenCo Q3 FY23 Q3 FY22 Revenue 1,916 1,823 EBITDA 762 584 PAT 144 97 Gross Debt 16,603 15,009 Net Debt 14,546 14,011 Net Note: Worth EBITDA includes other income 12,875 6,805 30
Slide 31: Regulated - Equity and Assets
REGULATED - EQUITY AND ASSETS ₹ Crore unless stated Particulars Q3 FY 23 Q2 FY 23 Q1 FY 23 Q4 FY 22 Q3 FY 22 Regulated Equity Mumbai Operation 4,394 4,380 4,370 4,377 4,243 Jojobera 542 522 522 522 522 Tata Power Delhi Distribution (100%) 1,861 1,846 1,839 1,831 1,769 TP Central Odisha Dist Ltd (100
Slide 32: Tata Power- Debt Profile
TATA POWER- DEBT PROFILE ₹ Crore unless stated Consolidated Particulars Q3 FY23 Q2 FY23 Q3 FY22 Rupee Forex Total Total Total Long term 25,140 3,451 28,592 29,597 28,346 Short term 10,466 1,824 12,289 11,808 10,838 Current Maturity of LT 8,603 - 8,603 8,130 8,179 Total Debt 44,209 5,275 49,484 49,53
Slide 33: Key Segments-Debt Profile
KEY SEGMENTS-DEBT PROFILE ₹ Crore unless stated Total Gross Debt (LT + ST) Company Quarterly movement Remarks Q3FY23 Q2FY23 QoQ Q3FY22 YoY Coal SPVs + TPIPL 5,275 5,189 (86) 4,571 (704) TPDDL 2,614 2,721 108 2,936 323 WREL 3,712 3,760 49 3,972 261 TPREL 11,703 11,365 (338) 7,453 (4,250) Capacity add
Slide 34: Thank You!
Thank You! Website: www.tatapower.com Investor Relations Team: Mr. Soundararajan Kasturi Mr. Rajesh Lachhani Chief – Treasury & Investor Relations Head – Investor Relations Email: kasturis@tatapower.com Email: rajesh.lachhani@tatapower.com M: +91 82912 04022 M: +91 9742947821 34
The Tata Power Company — Q3 FY23 Earnings Presentation on 6ix