Torrent Power Limited · NSE:TORNTPOWER
Torrent Power — Q4 FY2018-19 Earnings Presentation
24 slides from Torrent Power's earnings presentation, May 15, 2019
Slide 1: Investor Presentation Q4 FY 2018-19
INVESTOR PRESENTATION Q4 FY 2018-19
Slide 2: Disclaimer
Disclaimer This information may contain certain forward-looking statements/details in the current scenario, which is extremely dynamic and increasingly fraught with risks and uncertainties. Actual results, performances, achievements or sequence of events may be materially different from the views ex
Slide 3: Presentation Outline
Presentation Outline Sr. No. Particulars 1. Torrent Group 2. Torrent Power Limited 3. Overview of Operations : FY 2018-19 4. Investment Rationale 5. Five Year Trend : Key Financial & Technical Statistics
Slide 4: Torrent Group
1. Torrent Group TORRENT PHARMACEUTICALS LIMITED • A generics pharmaceutical major with strong global footprint • Ranked in top 10 in Indian pharma market with leading position in niche therapeutic areas • Largest Indian pharma company in Brazil & Germany TORRENT POWER LIMITED • Leading private sect
Slide 5: Torrent Group (Contd…)
Torrent Group (Contd…) Turnover $ 2805 Mn Market Cap $ 6563 Mn Enterprise Value $ 7529 Mn Employees 22,000+ Spreading smiles Illuminating Lives Not just healthcare… Lifecare Generating Trust. Distributing Opportunities. Turnover: $ 904 Mn Turnover: $ 1901 Mn Building pan-India state-of-art city gas
Slide 6: Torrent Power Limited
2. Torrent Power Limited Spreading smiles Illuminating Lives Thermal Solar Wind Transmission Distribution - Licensed - 2730 MW state- - 355 kms 400 kV distribution areas - 138- 138 MWMW oper- of - 473 - 430MWMWoper- of of-art gas based operational & 128 Kms of - Licensed covering Ahmed- ational capa
Slide 7: Portfolio of Assets: Thermal Generation
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : THERMAL GENERATION 1147.5 MW 382.5 MW 1200 MW 362 MW (3 x 382.5) (1 x 382.5) (3 x 400) (1 x 120 MW, 2 x 121 MW) Gas-based CCPP Gas-based CCPP Gas-based CCPP Coal Based Near Surat, Gujarat Near Surat, Gujarat Near Bharuch, Ahmedabad, Gujarat Gujara
Slide 8: Portfolio of Assets: Renewable Generation
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : RENEWABLE GENERATION 51 87 49.6 201.6 60.8 50.4 120 Adjacent to Lalpur, Gulbarga & Patan in Bhuj in Bhavnagar in SUGEN Plant, Jamnagar in Rajkot in Gujarat Raichur in Gujarat Gujarat Gujarat Gujarat Gujarat Karnataka 50.9 MW commissioned; 9.9 FY 1
Slide 9: Portfolio of Assets: Wind Projects Under Development
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : WIND PROJECTS UNDER DEVELOPMENT Particulars/ Project SECI I SECI III MSEDCL SECI V Capacity (In MW) 100* 499.8 126 115 SCOD Oct, 2018* Nov, 2019 Jan, 2020 July 2020 Location (District, Kutch, Gujarat Kutch, Osmanabad, Kutch, Gujarat State) Gujarat
Slide 10: Portfolio of Assets: Distribution
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : DISTRIBUTION Licensed Distribution Franchised Distribution Particulars Ahmedabad/ Surat Dahej Bhiwandi Agra Gandhinagar Licensed Area ~ 356 sq. km. ~ 52 sq. km. ~ 17 sq. km. ~ 721 sq. km. ~ 221 sq. km. Peak Demand 1,906 MW 687 MW 66 MW 555 MVA 458
Slide 11: Portfolio of Assets: Upcoming Distribution License Area
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : UPCOMING DISTRIBUTION LICENSE AREA The Company has been awarded distribution license for Dholera Special Industrial Region (Dholera SIR) of ~920 Sq Kms for 25 years as additional licensee Dholera SIR is a major project in the Delhi-Mumbai Indu
Slide 12: Portfolio of Assets: Upcoming Distribution Franchise Area
Torrent Power Limited (Contd…) PORTFOLIO OF ASSETS : UPCOMING DISTRIBUTION FRANCHISE AREA TPL has ben awarded the distribution franchise for Shil, Mumbra & Kalwa area by MSEDCL, based on competitive bidding process for 20 years. The ~65 Sq Kms area is part of Thane Urban Circle of MSEDCL and is
Slide 13: Overview of Operations – FY 2018-19
3. Overview of Operations – FY 2018-19 Income Statement – Consolidated Q4 18-19 Q4 17-18 Growth FY 18-19 FY 17-18 Growth (Rs. Cr.) Audited Audited % Audited Audited % Revenue from Operations 2,925 2,810 4% 13,151 11,512 14% Power Purchase Cost 1,772 1,677 8,365 6,822 Material Cost & Change in Invent
Slide 14: Overview of Operations – FY 2018-19 (Contd…)
Overview of Operations – FY 2018-19 (Contd…) The major contributors to the decrease in the reported total comprehensive income for the year are: Improved performance of franchised distribution businesses primarily driven by reduction in T & D losses and better margin; Higher profits from Renewables
Slide 15: Accounting Policy Change
Overview of Operations –FY 2018-19 (Contd…) Accounting Policy Change: • The Group has adopted Ind AS 115, Revenue from Contracts with Customers, from 1st April 2018. The adoption has resulted in a change in accounting policies and adjustment to the amounts recognized in the financial statements. • P
Slide 16: Assessment to Test Impairment for DGEN Mega Power Plant
Overview of Operations – FY 2018-19 (Contd…) Assessment to test impairment for DGEN Mega Power Plant • Property, Plant & Equipment (“PPE”) includes carrying amount of Rs. 4,365 Crore pertaining to 1,200 MW DGEN Mega Power Project located at Dahej, India (“DGEN”). DGEN started commercial operations f
Slide 17: Thermal and Renewable PLF and Dispatch
Overview of Operations – 2018-19 (Contd…) Thermal PLF (%)/MUs Dispatched Renewable PLF (%)/MUs Dispatched 87.22% 22.17% 77.83% 18.67% 20.25% 17.38% 56.39% 54.29% 624 MUs 137 1363 650 1312 MUs 217 56 60 MUs MUs MUs MUs MUs MUs 1147.5 MW 422 MW 362 MW 431 MW 473 MW 138 MW SUGEN AMGEN WIND SOLAR Q4 201
Slide 18: Distribution Units, T&D Loss and AT&C Loss
Overview of Operations – FY 2018-19 (Contd…) USO/Purchase (MUs) 1,711 1,658 838 779 955 911 380 351 A'bad Surat Bhiwandi Agra Q4 17-18 Q4 18-19 T&D Loss (%) AT&C Loss (%) 6.31% 5.61% 4.35% 4.21% 20.89% 17.28% 16.11% 14.90% A'bad Surat Bhiwandi Agra FY 2017-18 FY 2018-19 FY 2017-18 FY 2018-19
Slide 19: Investment Rationale
4. Investment Rationale • State of the art gas • Huge growth • Need for a robust • Opportunities for based plants potential in renew- grid to support huge private sector • Direct import of LNG at ables at returns increase in considering the efficient cost higher than COE renewables capacity endemic
Slide 20: Value Creation
Investment Rationale (Contd…) Excellent operational Regulated records Promising businesses growth ensuring opportunities stable returns Unmatched Strong project distribution management model skills World class Rational generation Value allocation of assets Creation capital
Slide 21: Five Year Trend - Key Financial Statistics
5. Five Year Trend - Key Financial Statistics Revenues from Operations (₹ Crore) EBIDTA (₹ Crore)/EBIDTA Margin (%) 13151 11716 11512 3381 3389 10396 3336 10000 2651 2423 27% 26% 28% 29% 23% 2014-15 2015-16 2016-17 2017-18 2018-19 2014-15 2015-16 2016-17 2017-18 2018-19 PAT (₹ Crore) Net Worth (₹ Cr
Slide 22: Five Year Trend - Key Financial Statistics (Contd…)
Five Year Trend - Key Financial Statistics (Contd…) Net Debt / EBITDA Net Debt Equity Ratio 0.94 0.93 2.95 2.99 0.92 2.49 2.61 0.89 2.26 0.80 2014-15 2015-16 2016-17 2017-18 2018-19 2014-15 2015-16 2016-17 2017-18 2018-19 Return on Capital Employed Return on Networth 11.26% 13.34% 12.54% 9.58% 8.25%
Slide 23: Five Year Trend - Key Technical Statistics
Five Year Trend - Key Technical Statistics (Contd…) SUGEN PAF-PLF (%) T&D loss (%) 98.38% 98.46% 7.34% 7.15% 6.81% 98.12% 96.38% 95.86% 6.31% 5.61% 65.26% 62.29% 47.50% 4.88% 4.65% 4.71% 4.35% 4.21% 35.78% 25.70% 2014-15 2015-16 2016-17 2017-18 2018-19 2014-15 2015-16 2016-17 2017-18 2018-19 PAF PLF
Slide 24: Thank You
Contact details: Nikita Khubchandani Torrent Power Limited THANK YOU “Samanvay”, 600 Tapovan, Ambawadi, Ahmedabad 380015 Ph. No. (079) 26628424 Email: IR@torrentpower.com www.torrentpower.com