Orient Green Power Company Ltd · NSE:GREENPOWER

Orient Green Power — Q3 FY2020 Earnings Presentation

25 slides from Orient Green Power's earnings presentation, Jan 31, 2020

  1. Slide 1: Investor Presentation cover letter to stock exchanges

    31st January 2020 The BSE Limited The National Stock Exchange Corporate Relations Department, of India Limited P.J. Towers, Department of Corporate Services, Dalal Street, Exchange Plaza, 5th Floor, Mumbai-400 001. Bandra-Kurla Complex, Scrip Code: 533263 Mumbai-400 051. Scrip Code: GREENPOWER Dear

  2. Slide 2: Leading Renewable Energy Generation Company

    Leading Renewable Energy Generation Company

  3. Slide 3: Disclaimer

    Disclaimer Certain statements in this presentation concerning our future growth prospects are forward looking statements, which involve a number of risks and uncertainties that could cause actual results to differ materially from those in such forward-looking statements. The risks and uncertainties

  4. Slide 4: Index

    Index Transformation Strategy & Operational Progress Key Developments: Q3 FY20 Financial Highlights Operational 4 Outlook & Highlights Regulatory Appendix: ` Overview Financial 11 Statements 13 16 18 22 3

  5. Slide 5: Transformation Strategy & Operational Progress

    Transformation Strategy & Operational Progress

  6. Slide 6: OGPL Transformation

    OGPL Transformation Phase IV • Focus on optimising performance of Wind business Accelerated Growth and aiming for leadership in renewable • Sale of Biomass business – removal of drag on business performance (FY18 onward) • Transfer of Biomass Debt – reduction in Interest costs energy sector in India

  7. Slide 7: High Potential disrupted by external factors

    High Potential disrupted by external factors In Rs. cr EBITDA Revenues 461 433 402 385 384 305 338 309 293 307 302 230 213 246 FY16 FY17 FY18 FY19 FY16 FY17 FY18 FY19 Finance Cost Depreciation 169 136 136 124 136 277 114 267 235 166 205 199 178 FY16 FY17 FY18 FY19 FY16 FY17 FY18 FY19 Cash Profit Pro

  8. Slide 8: What has changed in recent times

    What has changed in recent times Improvement in grid evacuation level 96.8 96.3  Increased frequency bandwidth for 95.5 95.8 95.7 95.3 renewables 94.8 93.9 93.1  Phase-wise shutting down of thermal power 92.8 plants during the wind season  Request for expedition of 1,000 MW green energy corridor

  9. Slide 9: Supported by Improvement in REC Mechanism

    Supported by Improvement in REC Mechanism Traded REC Revenue INR Crs 78 • Zero stock of issued RECs as of Dec 40 31, 2019. 38 • REC prices steadily improving over 28 28 last few quarters. 19 • Maintaining of zero stock level since Apr’2018. • Amount held in CERC - Rs.21 Crore FY15 FY16 FY17 FY18 FY1

  10. Slide 10: Focus on Debt Reduction

    Focus on Debt Reduction Debt (Rs. Cr) Interest Expense (Rs. Cr) 2,104 1,978 1,887 286 278 267 1,574 1,513 1,430 211 165 116 FY15 FY16 FY17 FY18 FY19 9M FY20 FY15 FY16 FY17 FY18 FY19 9M FY20 Interest / Revenue (%) EBITDA / Interest (x) 70% 58% 60% 59% 1.76 49% 1.41 1.48 43% 1.10 0.84 0.77 FY15 FY16 F

  11. Slide 11: Resulting in Improved Profitability

    Resulting in Improved Profitability EBITDA (Rs. Cr) EBIT (Rs. Cr) 179 176 293 300 243 246 124 133 120 232 205 8 FY15 FY16 FY17 FY18 FY19 9M FY20 FY15 FY16 FY17 FY18 FY19 9M FY20 Cash Profit (Rs. Cr) PAT (Rs. Cr) 3 86 81 89 (33) (71) 25 (96) (233) (47) (63) (340) FY15 FY16 FY17 FY18 FY19 9M FY20 FY15

  12. Slide 12: Key Developments: Q3 FY20

    Or Key Developments: Q3 FY20

  13. Slide 13: Key Developments – Q3 FY20

    Key Developments – Q3 FY20 Wind Business – Steady performance in a seasonally soft quarter  Higher unit generation on the back of stable wind patterns during the quarter resulted in revenue growth of28%.  Remain constructive on the business amidst - Higher grid availability especially in TN, incre

  14. Slide 14: Financial Highlights

    Financial Highlights

  15. Slide 15: 9M FY20 Consolidated Financial Performance

    9M FY20 Consolidated Financial Performance In Rs. Mn 9M FY20 9M FY19 Continued Operations: Revenue 2,725 2,828 EBITDA 2,055 2,151 EBITDA % 75% 76% EBIT 1,199 1,290 EBIT % 44% 46% Profit / (Loss) before tax 38 (269) Discontinued Operations PBT (46) (62) Consolidated Profit / (Loss) before tax (8) (33

  16. Slide 16: Key Financial Highlights – Q3 FY20

    Key Financial Highlights – Q3 FY20 Wind Business:  Relatively better wind availability resulted in higher unit generation and consequently revenues for the quarter.  This has helped OGPL to partially recoup the loss of units in the first half of the year due to erratic wind patterns Realizations f

  17. Slide 17: Operational Highlights

    Or Operational Highlights

  18. Slide 18: Wind Operations

    Wind Operations Unit of Particulars 9M FY20 9M FY19 State Capacity (MW) Measurement Capacity (incl. overseas Tamil Nadu 308.3 Mw 425 425 capacity) Andhra Pradesh 75.40 Units Generated (Gross) Mn 541 581 Gujarat 29.2 Annualized PLF % 19 20 Karnataka 1.25 Average Gross Realisation (before charges and

  19. Slide 19: Outlook & Regulatory Overview

    Outlook & Regulatory Overview

  20. Slide 20: Outlook

    Outlook  Structurally positive on the sector – Near term headwind waning – Long term view remains positive - Growth conducive policies by the Government in terms of viable tariffs, steady grid availability, flexible funding models and stricter compliance are enabling a predictable and buoyant busin

  21. Slide 21: Renewable Energy Certificates

    Renewable Energy Certificates  Buoyancy in REC trading continued to remain elevated in 9M FY20 on the back of strong demand – Strong demand on the back of stringent regulatory actions resulted in higher trading and improved yield. – Rising demand pushes certificate prices to Rs. 2,100 in January 20

  22. Slide 22: Regulatory & Market Developments

    Regulatory & Market Developments  CERC Extends Validity of Expiring RECs Until March 31 – Central Electricity Regulatory Commission (CERC) has in its latest order extended the validity of Renewable Energy Certificates (RECs) that were set to expire on December 31, 2019, until March 31, 2019. – The

  23. Slide 23: Appendix: Financial Statements

    Appendix: Financial Statements

  24. Slide 24: Financial Performance – 9M FY20 (Consolidated – IND-AS)

    Financial Performance – 9M FY20 (Consolidated – IND-AS) Rs. Million Particulars 9M FY20 9M FY19 Continuing Operations Sale of Power 2,287 2,439 Other Operating Income 406 303 Total Income 2.693 2,742 Total Operating Expenditure 670 677 Operational EBITDA 2,023 2,065 EBITDA (%) 75.1% 75% Other Income

  25. Slide 25: For further information please contact

    For further information please contact Mr. K.V. Kasturi Orient Green Power Company Limited Tel: +91 44 4901 5678 Email: kasturi.kv@orientgreenpower.com Mayank Vaswani / Suraj Digawalekar CDR India Tel: +91 22 6645 1230 / 1219 Email: mayank@cdr-india.com suraj@cdr-india.com

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