Powergrid Infrastructure Invesment Trust · NSE:PGINVIT
Powergrid Infrastructure Invesment Trust — POWERGRID Infrastructure Investment Trust — Q4 FY2023 Earnings Presentation
18 slides from Powergrid Infrastructure Invesment Trust's earnings presentation, May 25, 2023
Slide 1: POWERGRID Infrastructure Investment Trust Investor Presentation Results Q4 & FY2023
POWERGRID Infrastructure Investment Trust Investor Presentation Results Q4 & FY2023 May 25, 2023
Slide 2: Disclaimer
Disclaimer By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: ▪ This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any secur
Slide 3: Presentation Outline
Presentation Outline ❑ PGInvIT Overview ▪ Trust Structure ▪ PGInvIT at a glance ❑ PGInvIT Performance ▪ Operational ▪ Financial ❑ Distribution ❑ Outlook ❑ Glossary India’s First InvIT Sponsored by a Maharatna CPSE 3
Slide 4: PGInvIT – The power of AAA
PGInvIT – The power of AAA Assets Assurance Advantage Backing of POWERGRID- one of Operational revenue generating the world’s largest transmission Availability based Fixed tariffs - assets utilities as Sponsor & Project High visibility on cash flows Manager Low leverage - Debt funded TBCB mechanism
Slide 5: PGInvIT – Vision & Strategies
PGInvIT – Vision & Strategies To achieve a focused business model To Capitalize on value accretive To Optimize transmission assets with productive and operational growth through acquisitions and through an efficient capital efficiency to enhance returns non-transmission revenues structure Maintain a
Slide 6: PGInvIT Structure
PGInvIT Structure (as on March 31, 2023) Major Unitholders Sponsor2 15% 85% FPI- 22.14% IC- 9.89% Public Unitholders4 PF- 7.39% MF- 5.84% Power Grid Corporation of India Limited Individuals- 24.09% Others- 15.65% 100% IDBI Trusteeship Services POWERGRID Limited (ITSL) POWERGRID Unchahar Transmission
Slide 7: PGInvIT- Diverse Investor base
PGInvIT- Diverse Investor base Unitholding Pattern (Total Outstanding Units: 910 mn) Enjoying Confidence of Diverse set of Investors as on 15 22.14 9.89 7.39 5.84 15.65 24.09 Mar. 31, 2023 • Reputed Global Investors including Pension Funds • Insurance Companies (IC), as on Mar. 31, 2022 15 23.1 10.4
Slide 8: PGInvIT at a glance
PGInvIT at a glance POWERGRID Infrastructure Investment Trust - India’s 1st InvIT sponsored by a CPSE ......enjoying confidence of marquee investors Sponsor & Project Manager- POWERGRID 5 Operational and Revenue Perpetual ownership with Billing and Collection a Maharatna CPSE; one of Availability-ba
Slide 9: PGInvIT- Initial Portfolio Assets
PGInvIT- Initial Portfolio Assets POWERGRID POWERGRID Vizag Transmission POWERGRID POWERGRID Description Ltd.$ Kala Amb Transmission Parli Transmission Ltd. Warora Transmission Ltd. Jabalpur Transmission Ltd.# Ltd. Andhra Pradesh Madhya Pradesh Location Himachal Pradesh Maharashtra Madhya Pradesh an
Slide 10: Operational Performance - FY23
Operational Performance - FY23 Consistently achieving High Availability of Assets …… ……with POWERGRID as Project Manager to PGInvIT 1 Routine & Preventive Maintenance Average Availability since DOCO Accident Free 2 Safety Drills & Training >98% Operations AI/ML techniques for 3 Avg. Availability* -
Slide 11: Financial Performance – Q4FY23
Financial Performance – Q4FY23 Consistent Financial Performance Financials (Consolidated) NDCF at SPVs NDCF at PGInvIT (Q4FY23) (₹ in mn) Total Income VTL 601.84 PKATL • ₹ 3,228.60 mn 113.17 PPTL Operating Expenses 788.14 >90% upstreamed • ₹ 314.05 mn PWTL 845.67 PJTL 624.89 India’s First InvIT Spon
Slide 12: Financial Performance – FY23
Financial Performance – FY23 Consistent Financial Performance Financials (Consolidated) NDCF at SPVs NDCF at PGInvIT (FY23) (₹ in mn) VTL Total Income 2,184.34 PKATL 488.51 • ₹ 13,152.91 mn PPTL 2,743.52 >90% Operating Expenses upstreamed PWTL 3,048.73 • ₹ 889.23 mn Total Debt PJTL ₹ 5,727.07 mn 2,5
Slide 13: Distribution – Q4FY23 & FY23
Distribution – Q4FY23 & FY23 Total Distribution per unit for Q4FY23 Total Distribution (Rs.) per unit for FY23 Interest Dividend 7.86 (Exempt) Dividend ₹ 0.34 Repayment (Taxable) of SPV Debt ₹ 0.26 ₹ 0.49 Div. (Exempt) Div. (Taxable) Treasury 1.07 1.81 Interest Q4FY23 Income ₹ 1.90 (Exempt) ₹ 3.00 ₹
Slide 14: Distribution – since IPO
Distribution – since IPO Break-up of Total Distributions since IPO: ₹ 22.50* per unit PGInvIT Distribution Policy Repayment Treasury of SPV Debt, (Exempt), 1.22, 5% 0.05, 0% • InvIT Assets to distribute not less than 90% of each of their NDCFs to Div. (Exempt), the Trust 2.15, 10% • Trust to distrib
Slide 15: Sectoral Update
Sectoral Update Peak Demand (GW) Energy Req (BU) Installed Capacity(GW) 2279 Factors Driving Power 335 2021 Fossil Non-Fossil Sector Growth in India… 294 1512 ▪ Power For All 215 443 500 ▪ Industrial Growth 179 ▪ National Commitment to 259 277 236 Energy Transition FY23 FY28(P) FY30(P) FY23 FY28(P)
Slide 16: Outlook
Outlook Completion of 5 years from Commercial Operation Date Acquisition envisaged during the year Balance 26% equity (PKATL-Jul’22; PPTL- Jun’23; PWTL-Jul’23; PJTL-Dec;23) stake in four SPVs Targeted through Debt (PKATL, PPTL, PWTL & Valuation by independent Valuer Right with PGInvIT to acquire bal
Slide 17: Glossary
Glossary Term Description AUM Assets Under Management ckm circuit kilometres CPSE Central Public Sector Enterprise DOCO Date of Commercial operation Q4FY23/FY2023 Quarter ended March 31, 2023/ Financial Year 20022-23 IM Investment Manager InvIT Infrastructure Investment Trust IPA Initial Portfolio A
Slide 18: Thank you
Thank you www.pginvit.in
POWERGRID Infrastructure Investment Trust — Q4 FY2023 Earnings Presentation on 6ix