Torrent Power Limited · NSE:TORNTPOWER
Torrent Power — Q3 FY2018-19 Earnings Presentation
22 slides from Torrent Power's earnings presentation, Feb 5, 2019
Slide 1: Investor Presentation Q3 FY 2018-19
INVESTOR PRESENTATION Q3 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 : Q3 FY 2018-19 4. Overview of Upcoming Projects 5. Investment Rationale 6. 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 $ 2674 Mn Market Cap $ 6003 Mn Enterprise Value $ 7620 Mn Employees 22,000+ Spreading smiles Illuminating Lives Not just healthcare… Lifecare Generating Trust. Distributing Opportunities. Turnover: $ 904 Mn Turnover: $ 1770 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 - 433 - 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 32 MW 29.4 MW commissioned; co
Slide 9: 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 1,832 MW 671 MW 58 MW 576 MVA 443
Slide 10: Overview of Operations – Q3 FY 2018-19
3. Overview of Operations – Q3 FY 2018-19 ₹ in Crore Q3 18-19 Q3 17-18 Growth YTD 18-19 YTD 18-19 Growth FY 17-18 Particulars Unaudited Unaudited % Unaudited Unaudited % Audited Revenue from Operations 3,254 2,749 18% 10,226 8,702 18% 11,512 Power Purchase Cost 2,155 1,599 6,594 5,145 6,822 Material
Slide 11: Overview of Operations – Q3 FY2018-19 (Contd…)
Overview of Operations – Q3 FY2018-19 (Contd…) Increase in the Total Comprehensive Income for the period was driven by: Improved performance of franchised distribution businesses primarily driven by reduction in T & D losses; Higher profits from Renewables business due to increased capacity of wind
Slide 12: Overview of Operations – Thermal and Renewable PLF
Overview of Operations – Q3 2018-19 (Contd…) Thermal PLF (%)/MUs Dispatched Renewable PLF (%)/MUs Dispatched 76.52% 21.30% 60.52% 58.17% 18.65% 16.88% 17.94% 54.42% 559 MUs 95 1495 493 1344 MUs 180 51 55 MUs MUs MUs MUs MUs MUs 1147.5 MW 422 MW 362 MW 282 MW 431 MW 138 MW SUGEN AMGEN Wind Solar Q3 2
Slide 13: Overview of Operations – Distribution Units and Losses
Overview of Operations – Q3 2018-19 (Contd…) USO/Purchase (MUs) 1,863 1,766 777 787 939 873 430 401 A'bad Surat Bhiwandi Agra Q3 17-18 Q3 18-19 T&D Loss (%) AT&C Loss (%) 5.57% 5.15% 21.28% 3.52% 3.11% 18.96% 15.86% 16.87% A'bad Surat Bhiwandi Agra YTD 2017-18 YTD 2018-19 YTD 2017-18 YTD 2018-19
Slide 14: Overview of Dholera SIR, New Licensed Distribution Area
4 (a) Overview of Dholera SIR, New Licensed Distribution 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 besides UGVCL/PGVCL Dholera SIR is a major project under the Delhi-Mumbai Industr
Slide 15: Overview of SMK, New Franchised Distribution Area
4 (b) Overview of SMK, New Franchised Distribution 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 emerging as one of the preferred r
Slide 16: Overview of Wind Projects under Development
4 (c) Overview of Wind Projects under Development Particulars/ Project SECI I SECI III MSEDCL SECI V Capacity (In MW) 150 499.8 126 115 SCOD Oct, 2018* Nov, 2019 Jan, 2020 18 Months from PPA effective date Location (District, Kutch, Gujarat Kutch, Osmanbad, Kutch, Gujarat State) Gujarat Maharashtra
Slide 17: Investment Rationale
5. 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 18: 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 19: Five Year Trend - Key Financial Statistics
6. Five Year Trend - Key Financial Statistics Revenues from Operations (₹ Crore) EBIDTA (₹ Crore)/EBIDTA Margin (%) 11716 11512 10396 10000 3381 3336 8681 2651 2423 1534 28% 29% 23% 27% 18% 2013-14 2014-15 2015-16 2016-17 2017-18 2013-14 2014-15 2015-16 2016-17 2017-18 PAT (₹ Crore) Net Worth (₹ Cro
Slide 20: Five Year Trend - Key Financial Statistics (Contd…)
Five Year Trend - Key Financial Statistics (Contd…) Net Debt / EBITDA Gearing Ratio 4.59 1.37 1.26 1.10 1.06 1.01 2.88 2.96 2.46 2.17 2013-14 2014-15 2015-16 2016-17 2017-18 2013-14 2014-15 2015-16 2016-17 2017-18 Return on Capital Employed Return on Networth 11.0% 13.5% 12.6% 9.4% 7.3% 7.2% 6.7% 5.
Slide 21: Five Year Trend - Key Technical Statistics
Five Year Trend - Key Technical Statistics (Contd…) SUGEN PAF-PLF (%) T&D loss (%) 7.27% 7.34% 7.15% 6.81% 98.89% 98.12% 98.38% 96.38% 95.86% 6.31% 65.26% 5.12% 4.88% 4.71% 47.50% 4.65% 4.35% 35.78% 22.87% 25.70% 2013-14 2014-15 2015-16 2016-17 2017-18 2013-14 2014-15 2015-16 2016-17 2017-18 PAF PLF
Slide 22: Thank You
Contact details: Rishi Shah Torrent Power Limited THANK YOU “Samanvay”, 600 Tapovan, Ambawadi, Ahmedabad 380015 Ph. No. (079) 26628473 www.torrentpower.com