Adani Power Limited · NSE:ADANIPOWER
Adani Power — Q1 FY2024-25 Earnings Presentation
30 slides from Adani Power's earnings presentation, Jul 31, 2024
Slide 1: Exchange filing cover letter for results presentation
July 31, 2024 To, BSE Limited National Stock Exchange of India Limited P J Towers, Exchange plaza, Dalal Street, Bandra-Kurla Complex, Bandra (E) Mumbai – 400 001. Mumbai – 400 051. Scrip Code: 533096 Scrip Code: ADANIPOWER Dear Sir(s), Sub.: Results Presentation for Post Results Conference Call dt.
Slide 2: Adani Power Limited Result Presentation – Q1 FY 2024-25
Adani Power Limited Result Presentation – Q1 FY 2024-25 31st July 2024
Slide 3: Consolidated financial highlights for Q1 FY 2024-25
APL: Consolidated financial highlights for Q1 FY 2024-25 INR Crores Continuing Revenue Growth Continuing EBITDA Growth Continuing PBT Growth +53% +95% +30% 15,052 6,290 4,483 11,612 4,121 2,303 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Higher Revenue due to dispatch growth EBITDA growth due to
Slide 4: Consolidated operating highlights for Q1 FY 2024-25
APL: Consolidated operating highlights for Q1 FY 2024-25 Commercial Generation Despatch Revenue Mix (%) Availability under Performance (PLF %) Performance (BU) Merchant / Short Term Contracted (PPA) PPAs (%) +38% 78% 18% 92% 93% 22% 24.1 60% 17.5 82% 78% Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY
Slide 5: 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 6: Table of Contents
Table of Contents 1 About Adani Portfolio 2 About Adani Power Limited 3 Power Sector Growth Outlook 4 APL Quarterly Performance Highlights 5 Debt Profile 6 ESG Practice at APL 7 APL: Investment Case 5
Slide 7: About Adani Portfolio
01 About Adani Portfolio STRICTLY CONFIDENTIAL
Slide 8: Adani Portfolio: A World class Infrastructure & Utility portfolio
Adani Portfolio: 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%) (74.72%) (100%) (50.00%) (100%) (100%) ANIL Ada
Slide 9: 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 EBITDA 92% 1,4 AEL APSEZ Growth 3x 6 Growth 1.4x 6 AGEL Adani’s Core Infra. Platform –
Slide 10: Adani Portfolio: Repeatable, robust & proven transformative model of investment
Adani Portfolio: 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 C
Slide 11: About Adani Power Limited (APL)
02 About Adani Power Limited (APL) STRICTLY CONFIDENTIAL
Slide 12: Multifaceted power producer
APL: Multifaceted power producer Core Business Embedded Expertise Value Enhancement Emerging Opportunities Training and Vendor Power Generation Logistics Waste Management Development Solid fuel and fly ash: High quality manpower India’s largest private Value creation out of Sourcing and disposal dev
Slide 13: Operating Portfolio Overview: Strategically located, diversified fleet
APL: Operating Portfolio Overview: Strategically located, diversified fleet Near-Pithead Coastal Hinterland 8,070 MW 5,820 MW 2,920 MW • Tiroda, Maharashtra : 3,300 MW • Raipur, Chhattisgarh : 1,370 MW • Raigarh, Chhattisgarh : 600 MW • Mundra, Gujarat : 4,620 MW • Kawai, Rajasthan : 1,320 MW Assets
Slide 14: Power Sector Outlook and Growth Strategy
03 Power Sector Outlook and Growth Strategy STRICTLY CONFIDENTIAL
Slide 15: Rapidly growing power demand calls for more thermal power
Rapidly growing power demand calls for more thermal power with increasing renewables penetration 4500 700 Power Demand Growth Projections 4000 3776 Aggregate power generation capacity to grow from 445 600 3500 GW presently to 900 GW by FY32 3095 500 3000 2474 2500 400 Non-fossil generation capacity
Slide 16: Capacity expansion strategy to capture market potential
APL: Capacity expansion strategy to capture market potential Large execution pipeline backed by strong project management capability Upcoming Current capacity Ongoing projects Target opportunities Organic 10,880 MW 6,400 MW 4,800 MW 22,080 MW Under construction / Brownfield expansion Organic capacit
Slide 17: APL Quarterly Performance Highlights
04 APL Quarterly Performance Highlights STRICTLY CONFIDENTIAL
Slide 18: Key Highlights for Q1 FY 24-25
APL: Key Highlights for Q1 FY 24-25 Business Highlights ✓ APL has initiated development of a 2x800 MW (1600 MW) Ultra-supercritical thermal power project as Phase-II expansion of its existing 1,370 MW capacity at Raipur, Chhattisgarh. ✓ APL’s recently acquired subsidiary Mirzapur Thermal Energy (UP)
Slide 19: Growth potential from rising power demand fully realised
APL: Growth potential from rising power demand fully realised Commercial Availability^ PLF Generation (BU) Sales (BU) 92% 93% 26.0 78% 24.1 60% 19.0 17.5 Q1 FY24 Q1 FY25 Q1 FY24 Q1 FY25 Power demand in key States (BU)* 53.5 53.3 42.4 36.5 28.9 Q1 FY24 23.8 23.5 23.7 19.3 15.4 Q1 FY25 Gujarat Haryana
Slide 20: All-round improvement reflected in sustained strong profitability
APL: All-round improvement reflected in sustained strong profitability Snapshot of Profit & Loss Account INR Crores Summary Income Statement Q1 FY25 Q1 FY24 +/- Effective Capacity (MW) 15,250 14,468 Continuing Operating Revenue 14,717 11,370 29% Continuing Other Income 335 242 38% Total Continuing R
Slide 21: Revenue and EBITDA Bridge
APL: Revenue and EBITDA Bridge INR Crores Growth in Continuing Revenues Q1 FY24 to Q1 FY25 3,440 422 15,474 15,052 11,612 Q1 FY24 Continuing Revenue Change in volumes and tariffs Q1 FY25 Continuing Revenue One-time income (Q1 FY25) Q1 FY25 Reported Revenue Growth in Continuing EBITDA Q1 FY24 to Q1 F
Slide 22: Debt profile
05 Debt profile STRICTLY CONFIDENTIAL
Slide 23: Consolidated Debt Profile
APL: Consolidated Debt Profile INR Crores Particulars As on 30th June 2024 As on 31st Mar 2024 As on 31st Mar 2023 Senior Secured Loans Existing entities 27,652 27,875 21,425 Under-construction project - - 8,196 Total Senior Secured Loans (after Ind-AS adjustment) 27,652 27,875 29,621 Working Capita
Slide 24: Deleveraging of balance sheet and stronger net worth
APL: Deleveraging of balance sheet and stronger net worth Senior Term Debt / Equity Ratio (times) ▪ Significant reduction in senior 5.32 debt through prepayment as well as regular repayments despite acquisitions and addition of 2.57 project debt for the Godda plant. 1.86 0.99 ▪ Improvement in operat
Slide 25: ESG Practice at APL
06 ESG Practice at APL STRICTLY CONFIDENTIAL
Slide 26: ESG Highlights
APL: ESG Highlights Material Topic Targets Key ESG Initiatives/Achievements UN SDGs Reduction in GHG emission intensity Climate Change Adaptation and mitigation Climate Change Adaptation to 0.84 tCO2e/MWh • Average Emission intensity - 0.85 tCO2e/MWh. by FY 2025 and Mitigation Water Management • Wat
Slide 27: Board of Directors and Management overview
APL: Board of Directors and Management overview 100% Chaired Chaired IDs By IDs By NID Board of Directors Statutory Committees 40% Independent Directors - Audit 🗹 Comprised of only Independent Directors - Nomination & Remunerations 🗹 100% of - Stakeholder Relationship 🗹 Statutory Committees -…
Slide 28: APL: Investment Case
07 APL: Investment Case STRICTLY CONFIDENTIAL
Slide 29: APL's unique positioning to catapult on the tail-wind of India's growth story
APL’s unique positioning to catapult on the tail-wind of India’s growth story ▪ 85% of capacity contracted under LT / MT PPAs, of which 91% has assured fuel cost recovery Secure Business ▪ 85% of domestic fuel requirements secured under LT / MT contracts Model ▪ Domestic credit rating of APL is heal
Slide 30: Thank You
adar Power Thank You