Adani Power Limited · NSE:ADANIPOWER
Adani Power — Q2 FY2021 Earnings Presentation
26 slides from Adani Power's earnings presentation, 2020
Slide 1: Adani Power Limited Result Presentation Q2 FY 2020-21
Adani Power Limited Result Presentation Q2 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 Energy & Utility Adani Transport & Logistics Portfolio Portfolio • Marked shift from B2B to B2C businesses – 63.5% 100% 75% 75% • AGL – Gas distribution network to serve key APSEZ SRCPL ATL AGEL geographies across Port & Logistics Rail T&
Slide 6: Adani Group: Decades long track record of industry best growth rates across sectors
Adani Group: Decades long track record of industry best growth rates across sectors Port Cargo Throughput (MT) Renewable Capacity (GW) Transmission Capacity (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 201
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 100% 100% 100% 100% 100% 100% 100% Udupi Tiroda Raipur Raigarh Kawai Mundra Godda (Karnataka) (Maharashtra) (Chhattisgarh) (Chhattisgarh) (Rajasthan) (Gujarat) (Jharkhand) Category Coastal, Utility Near-Pithead Plants Hinterland Coastal Hinterland (
Slide 11: Superior operating performance
Superior operating performance Plant Load Factor (%) Consistently high PLF in comparison to all India average 64% 62% 60% 61% 61% 56% 49% 60% 55% 61% 55% 56% 50% 55% (FY18 lower due to coal shortage) 67% 76% 70% 55% 64% 70% 50% FY15 FY16 FY17 FY18 FY19 FY20 H1FY21 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 Business and Financial Updates • PSERC vide order dated 7th Aug, 2020 disallowed UPCL’s petition to adopt PPA with PSPCL (101.5 MW). Appeal has been filed against the said order by UPCL in APTEL. • Supreme Court vide order dated 31st Aug, 2020 partially upheld APRL’s appeal for
Slide 16: Ensuring optimum availability
Ensuring optimum availability BU : Billion Units Commercial Availability^ PLF Generation (BU) Sales (BU) 93% 95% 89% 84% 33.5 31.0 65% 27.5 25.3 59% 50% 50% 15.8 14.5 13.7 12.6 Q2 FY20 Q2 FY21 H1 FY20 H1 FY21 Q2 FY20 Q2 FY21 H1 FY20 H1 FY21 Power demand in key States (BU)* 35.4 33.5 27.0 25.5 18.1 1
Slide 17: Snapshot of financial performance
Snapshot of financial performance INR Crores % var % var Summary Income Statement Q2 FY21 Q2 FY20 H1 FY21 H1 FY20 (Q2 vs Q2) (H1 vs H1) Operating Revenue 7,749.21 5,915.69 31% 12,953.04 13,720.47 -6% Other Income 1,043.07 899.53 16% 1,195.43 1,109.25 8% Total Revenue 8,792.28 6,815.22 29% 14,148.47
Slide 18: Consolidated Balance Sheet
Consolidated Balance Sheet INR Crores Particulars As on 30th Sep, 2020 As on 31st Mar, 2020 Equity & Reserves (incl. Unsecured Perpetual Securities) 11,591 6,480 Long term borrowings incl. current maturities 44,015 47,397 Other Non-current liabilities 6,678 5,789 Short term borrowings 10,227 7,802 T
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 30th Sep 2020 30th Sep 2020 Carrying Carrying Principal Total Principal Total cost cost Domestic Coal Shortfall Approved by CERC 741 352 1,093 292 -- 2
Slide 20: Revenue and EBITDA Mix
4 Revenue and EBITDA Mix STRICTLY CONFIDENTIAL
Slide 21: Q2 FY 2020-21: Sales Mix
Q2 FY 2020-21: Sales Mix MU : Million Units Q2 FY20 (MU) Q2 FY21 (MU) 14,519 MU 12,601 MU 2064 2474 -13% 12456 10126 PPA Merchant/Medium term PPA Merchant/Medium term 11,850 MW 12,450 MW Avg. PPA tariff Rs. 4.08 / kWh Rs. 4.14 / kWh Avg. Merchant/Medium Rs. 3.40 / kWh Rs. 2.52 / kWh term tariff • We
Slide 22: Q2 FY 2020-21: Revenue Mix
Q2 FY 2020-21: Revenue Mix INR Crores Q2 FY20 Q2 FY21 -292 391 -746 394 Regulated Utility 730 1654 262 Near-Pithead 2273 Hinterland 3624 Coastal 957 Holdco Exceptional revenue 3136 766 Eliminations 2324 134 Consol. Revenue Rs. 6,815 Cr 29% Rs. 8,792 Cr Adj. Revenue* Rs. 6,085 Cr 15% Rs. 5,168 Cr • R
Slide 23: Q2 FY 2020-21: EBITDA Mix
Q2 FY 2020-21: EBITDA Mix INR Crores Q2 FY20 Q2 FY21 -138 244 232 -214 549 Regulated Utility Near-Pithead 412 587 Hinterland 730 Coastal 338 Holdco Exceptional EBITDA 3573 120 313 Eliminations 236 352 Consol. EBITDA Rs. 2,248 Cr 126% Rs. 5,086 Cr Adj. EBITDA* Rs. 1,518 Cr 0% Rs. 1,513 Cr • Reported
Slide 24: Debt Profile
5 Debt Profile STRICTLY CONFIDENTIAL
Slide 25: Consolidated Debt Profile
Consolidated Debt Profile INR Crores Particulars As on 30th Sep, 2020 As on 31st Mar, 2020 Senior Secured Loans (Rupee Term Loans + ECB) Existing entities 32,797 32,598 Under-construction project 2,766 2,109 Total Senior Secured Loans 35,562 34,707 Working Capital Loans 8,545 7,705 ICD and other uns
Slide 26: Thank You
adani Power Thank You