Adani Energy Solutions Ltd · NSE:ADANIENSOL
Adani Energy Solutions — Q3 FY2025 Earnings Presentation
45 slides from Adani Energy Solutions's earnings presentation, January 2025
Slide 1: Adani Energy Solutions Limited Q3 and 9MFY25 Results Presentation
Adani Energy Solutions Limited (Formerly known as Adani Transmission Limited) Q3 and 9MFY25 Results Presentation January 2025
Slide 2: Contents
CONTENTS Executive Summary – Q3 and 04 9M FY25 04 Financial Highlights – Q3 and 06 06-16 9M FY25 18-19 Debt and Capex Profile 18 21-23 Operational Highlights – Q3FY25 21 AESL - ESG Framework and 25-31 Updates 25 Annexure – Rating and AESL’s 33-38 Asset Portfolio 33 40 40-43 Annexure – Adani Portfoli
Slide 3: AESL – Q3 and 9M FY25 Executive Summary
Adani Energy Solutions Limited Debt Presentation | February 2 0 2 0 Transmission AESL – Q3 and 9M FY25 Executive Summary 14
Slide 4: Executive Summary – Q3 and 9M FY25
AESL: Executive Summary – Q3 and 9M FY25 Key Highlights for Q3 FY25 Key Operating Metrics Key Financial Metrics – Financial Performance update Transmission Q3 FY25 9M FY25 – Total income increased by 24% YoY, driven by the contribution from the recently commissioned transmission lines and higher ene
Slide 5: Q3 FY25 Financial Highlights (YoY)
Total revenue EBITDA PAT Rs. 6,000 Rs. 1,831 Cr Rs. 625 Cr 24% up YoY 6% up YoY 80% up YoY Q3 FY25 Financial Highlights (YoY) 5
Slide 6: Consolidated Financial Highlights - Q3FY25 YoY
AESL: Consolidated Financial Highlights - Q3FY25 YoY (In Rs Cr) Total Income Operational Revenue Total EBITDA 6,000 4,173 4,824 3,615 1,831 1,732 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Operational EBITDA PAT Cash Profit 999 625 899 1,579 1,454 348 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Notes:
Slide 7: Segment–wise Financial Highlights - Q3FY25 YoY
AESL: Segment–wise Financial Highlights - Q3FY25 YoY (In Rs Cr) Operational Revenue Total EBITDA Operational EBITDA 2,973 1,239 1,086 2,559 967 1,055 677 557 487 484 1,056 1,189 Transmission Distribution Transmission Distribution Transmission Distribution Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 PA
Slide 8: Segment wise revenue bridge - Q3FY25 YoY
AESL: Segment wise revenue bridge - Q3FY25 YoY Transmission Distribution Trading Others Consolidated Particulars (INR Cr) Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Q3FY25 Q3FY24 Operating Revenue 1,189 1,056 2,972 2,559 11 4,172 3,615 Revenue under Service Concession 842 64 433 1,275 6
Slide 9: Transmission – Operating Revenue and Operating EBITDA Bridge YoY
AESL: Transmission – Operating Revenue and Operating EBITDA Bridge YoY (In Rs Cr) Operating revenue up 13% supported by revenue contribution from recently Operating EBITDA up 12% driven by strong revenue growth commissioned lines and acquisition of Mahan Sipat line 128 (62) 6 194 (5) 6 (15) 1,086 1,
Slide 10: Distribution (AEML and MUL) – Operating Revenue and EBITDA Bridge YoY
AESL: Distribution (AEML and MUL) – Operating Revenue and Operating EBITDA Bridge YoY (In Rs Cr) Revenue up 16% driven by higher energy sales Operating EBITDA marginally declined by 0.7% 288 28 (6) (7) (24) 414 (57) (350) 130 2,973 1 1 (6) 484 487 2,559 Q3FY25 Fuel adjustment Sale of energy Transmis
Slide 11: 9M FY25 Financial Highlights (YoY)
Total revenue EBITDA PAT Rs. 17,850 Cr Rs. 5,484 Cr Rs. 1,714 Cr 44% up YoY 20% up YoY 110% up YoY 9M FY25 Financial Highlights (YoY) 11
Slide 12: Consolidated Financial Highlights - 9MFY25 YoY
AESL: Consolidated Financial Highlights - 9MFY25 YoY (In Rs Cr) Total Income Operational Revenue Total EBITDA 12,941 5,484 17,850 4,553 10,657 12,363 9MFY24 9MFY25 9MFY24 9MFY25 9MFY24 9MFY25 Operational EBITDA PAT Cash Profit 4,814 1,714# 2,933# 4,077 2,306 814 9MFY24 9MFY25 9MFY24 9MFY25 9MFY24 9M
Slide 13: Segment–wise Financial Highlights - 9MFY25 YoY
AESL: Segment–wise Financial Highlights - 9MFY25 YoY (In Rs Cr) Operational Revenue Total EBITDA Operational EBITDA 9,359 3,665 3,258 7,777 2,628 2,824 1,729 1,738 1,448 1,541 3,561 2,881 Transmission Distribution Transmission Distribution Transmission Distribution 9MFY24 9MFY25 9MFY24 9MFY25 9MFY24
Slide 14: Segment wise revenue bridge - 9MFY25 YoY
AESL: Segment wise revenue bridge - 9MFY25 YoY Transmission Distribution Trading Others Consolidated Particulars (INR Cr) 9MFY25 9MFY24 9MFY25 9MFY24 9MFY25 9MFY24 9MFY25 9MFY24 9MFY25 9MFY24 Operating Revenue 3,561 2,881 9,359 7,777 21 12,941 10,657 Revenue under Service Concession 2,517 116 743 3,
Slide 15: Transmission – Operating revenue and Operating EBITDA Bridge YoY
AESL: Transmission – Operating revenue and Operating EBITDA Bridge YoY (In Rs Cr) Operating revenue up 24% supported by revenue contribution from Operating EBITDA up 24% driven by strong revenue growth recently commissioned lines and acquisition of Mahan Sipat line 752 662 (122) 18 54 (21) 18 (51) 3
Slide 16: Distribution (AEML and MUL) - Revenue and Operating EBITDA Bridge YoY
AESL: Distribution (AEML and MUL) - Revenue and Operating EBITDA Bridge YoY (In Rs Cr) Revenue up 20% driven by higher energy sales Operating EBITDA ended 6% higher 881 (80) (35) 1,582 (77) (171) (442) (684) 672 9,359 13 11 5 1,541 1,448 7,777 9MFY25 Fuel adjustment Sale of energy Wheeling and Other
Slide 17: Debt and Capex Profile
Debt and Capex Profile 17
Slide 18: 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 70% 12% As of As of 30 September 24 31 March 16 < 1 Y - 19% < 1 Y - 6% (year of inception) 1 to 5 Y - 69% 1 to 5 Y - 24% 89% >
Slide 19: Capex Profile: Significant ramp-up in capital expenditure
Capex Profile: Significant ramp-up in the capital expenditure to tap the underlying growth opportunity Capex: Q3FY25 vs Q3FY24 (In Rs Cr) 3,074 374 570 1,162 2,129 426 • AESL significantly increases its capex ramp-up driven by unparallel 736 project and operating excellence coupled with robust capit
Slide 20: Q3FY25 Operational Highlights (YoY)
▪ Average Transmission System Availability 99.7% ▪ Transmission Network at 25,778 ckm added 225 ckm ▪ Supply Reliability (ASAI) in AEML 99.99% ▪ Distribution Loss in AEML further improved to 4.66% Q3FY25 Operational Highlights (YoY) 20
Slide 21: Transmission Utility – Key Operating Metrics - Q3FY25 (YoY)
AESL: Transmission Utility – Key Operating Metrics - Q3FY25 (YoY) Transmission Network Length(2) (ckm) Power Transformation Capacity(2) (MVA) 25,778* 84,186* 20,422 54,661 Significant jump in the Continuous expansion in network addition highlights transformation capacity on the execution and bid win
Slide 22: AEML: Distribution Utility – Key Operating Metrics - Q3FY25 (YoY)
AEML: Distribution Utility – Key Operating Metrics - Q3FY25 (YoY) Supply Reliability (ASAI) (%) SAIDI (mins), SAIFI (nos.) and CAIDI (mins)(1) SAIFI SAIDI CAIDI 99.998% 99.997% 26.30 25.77 Maintained supply Reliability parameters reliability of more remains in line with than 99.9% global standards 3
Slide 23: AEML: Distribution Utility – Key Operating Metrics - Q3FY25 (YoY)
AEML: Distribution Utility – Key Operating Metrics - Q3FY25 (YoY) Consumer base (million) Distribution Loss (%)(1) E-payment (% of total collection) 3.17 3.16 5.44% 83.58% 80.36% 4.66% Distribution loss is Share of e-payment Continuous consumer constantly improving and increasing with greater additi
Slide 24: AESL - ESG Framework and Updates
Adani Energy Solutions Limited Debt Presentation | February 2 0 2 0 Transmission AESL is now certified ESG Updates Continue to maintain AESL has joined UNEZA, a global Best-in-class ESG ratings from Single Use Plastic (SUP) Free alliance for clean energy and global rating agencies: Net Water Positiv
Slide 25: ESG Framework
AESL: ESG Framework United Nations GHG Protocol SBTi Global Compact Guiding Integrated Reporting Policies Guiding Principles and TCFD framework CDP principle Disclosure Standards UN Sustainable TNFD GRI Standards Development Goals Policy Structure Focus Areas • Environment & Energy as part of IMS po
Slide 26: Environment: Key Indicators and Milestones
AESL: Key Environmental Indicators and Milestones Key Performance Indicators Current Status Baseline Short to Medium-term Targets Energy Mix & Emission Intensity - RE share in power procurement AEML has achieved 36% renewable in power mix as of YTD FY25 3% FY19 60% by FY27 70% by FY30 AEML has reduc
Slide 27: Social Philosophy and Focus Areas
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 (2,830 students benefited) & School Uniforms Tiroda, Dahanu and to Anganwadi children (5,780 students benefi
Slide 28: Social: Key Indicators and Milestones
AESL: Key Social Indicators and Milestones Material Actual Target Material Themes Key Performance Indicators Baseline Categories (9MFY24-25) (FY24-25) Zero Rate of fatalities per million hours worked Zero Zero (FY 20-21) Work related injury Rate of recordable work-related injuries per 0.33 0.23 Zero
Slide 29: Governance Philosophy and Focus Areas
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
Slide 30: Governance: Key Indicators and Milestones
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
Slide 31: Enhanced Safety Culture
AESL: Enhanced Safety Culture Safety Initiatives During Q3FY25 Safety Performance in Q3FY25 • Safety training: 46,465 man-hours of safety training and awareness during Q3FY25 Transmission Distribution (AEML) • Positive Safety Culture: Safety Parameters Q3FY25 Q3FY24 Q3FY25 Q3FY24 o Conducted interna
Slide 32: 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
Slide 33: 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 AESL India Ratings AA+ Stable Fitch Dollar Bond BBB-/RWN AESL ICRA A1+ Stable Moody’s Dollar Bond B
Slide 34: Operational Asset Portfolio as of December 2024 (1/2)
AESL’s Operational Asset Portfolio as of December 2024 (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
Slide 35: Operational Asset Portfolio as of December 2024 (2/2)
AESL’s Operational Asset Portfolio as of December 2024 (2/2) Adani Energy Solutions Limited 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Obra-C Lakadia WRSS – XXI Jam Karur Kharghar Khavda- MP WKTL AESML Badaun (A) Khambaliya Transmission - Vikhroli Bhuj Package II Banaskantha Obra Lakadia Laka
Slide 36: Transmission Under-construction Asset Portfolio as of December 2024
AESL‘s Transmission Under-construction Asset Portfolio as of December 2024 Adani Energy Solutions Limited 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Khavda – Khavda AEMIL Khavda – Bhadla - Line & SS NKTL WR-SR KTL KPS-1 STSL III – A Navinal Jamnagar Phase IV HVDC# IV - A Fatehp
Slide 37: Smart Metering Under-construction Portfolio as of December 2024
AESL‘s Smart Metering Under-construction Portfolio as of December 2024 Adani Energy Solutions Limited 100% 100% 100% 100% 100% 100% 100% 100% 100% MSEDCL MSEDCL BEST APDCL APEPDCL APCPDCL APSPDCL NBPDCL UPCL NSC-05 NSC-06 BEST Smart NE Smart Adani Adani Adani Adani Adani Adani Energy Adani Metering
Slide 38: Recent Business Updates and Awards
AESL: Recent Business Updates and Awards Won two new projects - Khavda Phase IV Part-D with Fully commissioned MP Package-2 transmission line Received LOI for Rajasthan Phase III Part-I (Bhadla – a project cost of Rs 3,455 crore and Rajasthan Phase which will strengthen transmission system in the ea
Slide 39: Adani Portfolio
adani Energy Solutions Adani Portfolio
Slide 40: Adani: A World Class Infrastructure & Utility Portfolio
Adani: A World Class Infrastructure & Utility Portfolio Flagship Infrastructure & Utility Core Portfolio Primary Industry Emerging B2C Materials, Metal Direct to Incubator Energy & Utility Transport & Logistics & Mining consumer (100%) (100%) (73.97%) (100%) (50.00%) (100%) (100%) ANIL AdaniConneX3
Slide 41: Adani Portfolio: Decades long track record of industry best growth
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 EBITDA 71% 1,2,3 EBITDA 92% 1,3,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL ATGL Adani’s Core Infra. Pl
Slide 42: Adani: Repeatable, robust & proven transformative model of investment
Adani: Repeatable, robust & proven transformative model of investment DEVELOPMENT OPERATIONS CONSUMERS 1 New C.E.O. Adani Infra (India) Limited (AIIL) Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development Construction Operation Inspired Purpose & Value Creation AC
Slide 43: 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 14 states 7% CAGR growth in RAB in Mumbai Development 25,778 ckm(1) Distribution
Slide 44: 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
Slide 45: Thank You
MUSHKILON KI adani NAHI SUNTE, HUM KARKE DIKHATE HAIN. #HumKarkeDikhateHain — adani Energy Solutions Thank You
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