Adani Power Limited · NSE:ADANIPOWER
Adani Power — Q1 FY2021 Earnings Presentation
28 slides from Adani Power's earnings presentation, 2020
Slide 1: Adani Power Limited Analyst Presentation Q1 FY 2020-21
Adani Power Limited Analyst Presentation Q1 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 Adani Transport & Logistics Energy & Utility Portfolio Portfolio Adani • Marked shift from B2B to 63.5% 100% 75% 75% B2C businesses – APSEZ SRCPL ATL AGEL • AGL – Gas distribution Port & Logistics Rail T&D Renewables network to serve key
Slide 6: Adani Group: Repeatable, robust & proven model of infrastructure development
Adani Group: Repeatable, robust & proven model of infrastructure development Phase Development Operations Post Operations Origination Site Development Construction Operation Capital Mgmt Analysis & Site acquisition Engineering & Life cycle O&M Redesigning the market design planning capital structure
Slide 7: Adani Group: Repeatable, robust business model applied to drive value
Adani Group: Repeatable, robust business model applied to drive value Successfully applied across Infrastructure & utility platform Development at large scale & within time and budget India’s Largest Longest Private HVDC 6 4 8 MW Ultra Mega Largest Single Location Commercial Port Line in Asia Solar
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% 47% 60% 55% 61% 55% 56% 47% 55% (FY18 lower due to coal shortage) 67% 76% 70% 55% 64% 70% 51% FY15 FY16 FY17 FY18 FY19 FY20 Q1FY21 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: Key Highlights for Q1 FY 2020-21
Key Highlights for Q1 FY 2020-21 Business and Financial Updates • Power Supply Agreement (PSA) of 25 years duration signed with MP Power Management Co. Ltd. for 1,230 MW contracted capacity by Pench Thermal Energy (MP) Ltd. (APL Subsidiary) • Power to be supplied from a greenfield 1,320 MW Supercrit
Slide 16: Ensuring optimum availability
Ensuring optimum availability BU : Billion Units Commercial Availability^ PLF Generation (BU) Sales (BU) 17.7 96% 16.5 93% 13.8 78% 12.7 51% Q1 FY20 Q1 FY21 Q1 FY20 Q1 FY21 Power demand in key States (BU)* 13.4 10.0 11.1 9.0 7.7 5.9 7.2 5.8 5.2 5.3 Q1 FY20 Q1 FY21 Gujarat Haryana Maharashtra Rajasth
Slide 17: Snapshot of financial performance
Snapshot of financial performance INR Crores % var vs % var vs Summary Income Statement Q1 FY21 Q4 FY20 Q1 FY20 Q4 FY20 Q1 FY20 Operating Revenue 5204.56 6,172.43 -16% 7,804.78 -33% Other Income 152.36 155.14 -2% 209.72 -27% Total Revenue 5356.92 6,327.57 -15% 8,014.50 -33% Fuel cost* 3,290.70 4,489
Slide 18: Consolidated Balance Sheet
Consolidated Balance Sheet INR Crores Particulars As on 30th June, 2020 As on 31st Mar, 2020 Equity & Reserves (incl. Unsecured Perpetual Securities) 5,775 6,480 Long term borrowings incl. current maturities 47,481 47,397 Other Non-current liabilities 6,090 5,789 Short term borrowings 9,304 7,802 Tr
Slide 19: Regulatory receivables update
Regulatory receivables update INR Crores Claims under announced regulatory orders Claims raised till Receipts till Asset Name Nature of Claim Status 30th Jun 2020 30th Jun 2020 CT CC Total CT CC Total Domestic Coal Shortfall APMuL Approved by CERC 741 352 1,093 292 -- 292 (Up to 31st March 2017) Dom
Slide 20: Revenue and EBITDA Mix
4 Revenue and EBITDA Mix STRICTLY CONFIDENTIAL
Slide 21: Q1 FY 2020-21: Sales Mix
Q1 FY 2020-21: Sales Mix MU : Million Units Q1 FY20 (MU) Q1 FY21 (MU) 16,516 MU 12,693 MU 653 2621 -23% 10072 15863 PPA Merchant/Medium term PPA Merchant/Medium term 10,480 MW 12,450 MW Avg. PPA tariff Rs. 4.05 / kWh Rs. 4.26 / kWh Avg. Merchant/Medium Rs. 4.32 / kWh Rs. 2.91 / kWh term tariff • Low
Slide 22: Q1 FY 2020-21: Revenue Mix
Q1 FY 2020-21: Revenue Mix INR Crores Q1 FY20 Q1 FY21 133 3 461 -865 778 -756 Regulated Utility 1121 Near-Pit head 226 2254 Hinterland Coastal 2439 Holdco 2364 Exceptional revenue 834 3667 Eliminations 713 Consol. Revenue Rs. 8,015 Cr -33% Rs. 5,356 Cr Adj. Revenue* Rs. 6,892 Cr -22% Rs. 5,353 Cr •
Slide 23: Q1 FY 2020-21: EBITDA Mix
Q1 FY 2020-21: EBITDA Mix INR Crores Q1 FY20 Q1 FY21 -36 36 260 -159 259 Regulated Utility 117 Near-Pit head 1112 594 Hinterland Coastal 283 Holdco Exceptional EBITDA 646 320 Eliminations 359 42 602 Consol. EBITDA Rs. 2,894 Cr -47% Rs. 1,541 Cr Adj. EBITDA* Rs. 1,782 Cr -16% Rs. 1,504 Cr • Reported
Slide 24: Consolidated EBITDA Bridge: Q4 FY20 to Q1 FY21
Consolidated EBITDA Bridge: Q4 FY20 to Q1 FY21 INR Crores 1,541 Exceptional Items as part of Q4FY20 Q1FY21 Impact Operating revenue (Reversal) (631) 8 639 1,160 1,191 Other income 22 (5) (27) 933 Fuel expense (write back) - 39 39 Other expense 288 6 282 Total 933 360 158 98 24 EBITDA Q4 FY20 Lower F
Slide 25: Consolidated EBITDA Bridge: Q1 FY20 to Q1 FY21
Consolidated EBITDA Bridge: Q1 FY20 to Q1 FY21 INR Crores 2,894 2,067 492 119 35 1,380 1,074 1,541 Exceptional Items as part of Q1FY20 Q1FY21 Impact Operating revenue (Reversal) 1,026 8 (1,018) Other income 96 (5) (101) Fuel expense (write back) - 39 39 Other expense 11 6 5 Total 1,074 EBITDA Q1 FY2
Slide 26: Debt Profile
5 Debt Profile STRICTLY CONFIDENTIAL
Slide 27: Consolidated Debt Profile
Consolidated Debt Profile INR Crores Particulars As on 30th Jun, 2020 As on 31st Mar, 2020 Senior Secured Loans (Rupee Term Loans + ECB) Existing entities 32,452 32,598 Under-construction project 2,360 2,109 Total Senior Secured Loans 34,812 34,707 Working Capital Loans 8,828 7,705 ICD and other uns
Slide 28: Thank You
adani Power Thank You