Tata Power Company Limited · NSE:TATAPOWER
Tata Power — The Tata Power Company — Q2 FY22 Earnings Presentation
41 slides from Tata Power's earnings presentation, Oct 28, 2021
Slide 1: Financial Results - Q2 FY22
The Tata Power Company Limited Financial Results - Q2 FY22 28th October 2021 1
Slide 2: Disclaimer
Disclaimer This document does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any
Slide 3: Q2 FY22 Business Highlights
Q2 FY22 Business Highlights
Slide 4: Q2 FY22 Highlights
Q2 FY 22 Highlights ➢ Tata Power Solar won 1,000 MW of Utility scale EPC orders worth ~ ₹ 3,000 crore ➢ LoA received for development of 580 MW of solar projects – 330 MW from RUMSL, MP and 250 MW from MAHAGENCO, Maharashtra ➢ 256 MW of solar projects commissioned this quarter; another 1.7 GW in pipe
Slide 5: Powering India's Rooftops
Powering India’s Rooftops Spread Across 173 (+21) Cities Apollo Hospital 335 kWp
Slide 6: Solar Rooftop - Quarter Highlights
Solar Rooftop - Quarter Highlights Order Book grows to 417 MW worth ₹ 1,184 crore Revenue (₹ crore) 298 ➢ ₹ 1,182 crore (416 MW) orders won in H1 with highest ever orders won in a quarter - ₹ 750 crore (264 MW) of order won in Q2 FY22 ~3X growth ➢ Strong growth from all segments – Residential, Indus
Slide 7: Solar Pumps – Quarter Highlights
Solar Pumps – Quarter Highlights ➢ Tata Power Solar Pump launched in 22 districts across 6 states ➢ 4x growth in revenue on YoY basis ➢ H1 FY22 revenue almost reaches FY 21 revenue on back of strong execution Revenue (in Rs crore) 205 140 51 Spread Across 173 (+21) Cities Q2 FY21 Q2 FY22 Q1 FY22 No.
Slide 8: Launch of Tata Power branded Solar Pump
Launch of Tata Power branded Solar Pump Spread Across 173 (+21) Cities A step towards becoming a Market Leader in Solar Pumps business
Slide 9: All-round performance in Solar EPC
All-round performance in Solar EPC WELL DIVERSIFIED UTILITY ORDER BOOK AC Capacity Customer (MW) Tata Power Group 1,220 NTPC 1,090 Brookfield 300 GSECL 130 Vibrant 45 NHPC 40 SECI 20 Total Capacity as on 30th Sep 21 2,845 Order Book as on 30th Sep 21 (₹ Cr) 9,264 ➢ 1 GW of Utility Scale EPC orders w
Slide 10: Kayamkulam floating solar project
Kayamkulam floating solar project – testimony to TPSSL’s varied execution capability Inverter Ferro cement Platform completion Equipment Erection on Platform Anchoring of floater in water
Slide 11: Tata Power EZ Charge
Tata Power EZ Charge EV Charging Platform Statistics EV Charging Business Highlights 2700+ Registered Users 1,600 home chargers installed in Q2. Cumulative installation till date 27 Lacs+ mins of – 5458 Charging 32 eBus Charging Points installed in 780K+ kWh of Charging 7mn+ km of e-mobility Q2. Cum
Slide 12: Q2 FY22 Financial Highlights
Q2 FY22 Financial Highlights
Slide 13: Q2 FY22 Financial Highlights
Q2 FY22 Financial Highlights Strong all round operational performance; despite high coal prices for CGPL, PAT up by 36% REPORTED EBITDA Underlying EBITDA (Including Share of Reported PAT (before PAT (before Discontinued exceptional items) and Reported EBITDA Associates) JVs & Associated) exceptional
Slide 14: Comfortable debt position for sustainable growth
Comfortable debt position for sustainable growth NET DEBT MAINTAINED AT FY 21 LEVELS BUS AS USUAL DEBT DOWN WITH ROBUST CF FROM OPERATIONS 1,500 37,347 39,649 39,719 Q2 FY 21 Q1 FY 22 Q2 FY 22 Net Debt Perpetual Debt SUSTAINABLE DEBT PROFILE Net Debt to Equity 1.63 v 1.54 in Q2 21 Net Debt to Underl
Slide 15: Installed Generation Capacity
Installed Generation Capacity GENERATION PORTFOLIO ~ 32% CLEAN & GREEN Clean and Green Break-up Clean & Waste Heat Business Model MW Thermal Green Hydro Recovery / Wind Solar Total BFG Captive 429 174 255 - 255 - - Merchant 246 - 246 126 120 - - PPA/ Fixed Tariff (Bid/ Others) 4,645 4,338 307 307 -
Slide 16: T&D Portfolio and RE Pipeline
T&D Portfolio and RE Pipeline CURRENT T&D PORTFOLIO LARGE SOLAR PROJECT DEVELOPMENT PIPELINE Transmission Business Model CKM Customer State Capacity (MW) Mumbai Transmission Regulated 1,211 UPNEDA UP 100 Dholera GJ 250 Powerlinks (JV) Regulated 2,328 Dholera - II GJ 50 Total 3,539 GUVNL GJ 120 MSEDC
Slide 17: Operational Highlights
Operational Highlights Availability Transmission - Availability 100 100 97 97 98 99 100 100 100 100 90 89 93 89 Powerlinks 100 100 28 100 20 MO - 100 Transmission 100 Thermal (excl. CGPL MO - Hydro Wind Solar CGPL) Q2 FY21 Q2 FY22 Q1 FY22 Q2 FY21 Q2 FY22 Q1 FY22 Plant Load or Capacity Utilization fa
Slide 18: Financial Results – Q2 FY22 & H1 FY22
Financial Results – Q2 FY22 & H1 FY22 18
Slide 19: Consolidated Performance – Q2 FY22
Consolidated Performance – Q2 FY22 Op Income EBITDA^^ PAT Op Income EBITDA^^ PAT Particulars YTD Q2 YTD Q2 YTD Q2 YTD Q2 YTD Q2 YTD Q2 Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 FY22 FY21 FY22 FY21 FY22 FY21 Consolidated before exceptional items 9,502 8,428 1,732 2,276 506 371 19,476 15,105 4,0
Slide 20: Consolidated Performance – YTD FY22
Consolidated Performance – YTD FY22 Op Income EBITDA^^ PAT Particulars YTD Q2 YTD Q2 YTD Q2 YTD Q2 YTD Q2 YTD Q2 FY22 FY21 FY22 FY21 FY22 FY21 Consolidated before exceptional items 19,476 15,105 4,097 4,313 971 639 Standalone & Key Subsidiaries Tata Power (Standalone) 3,685 3,123 2,019 1,446 2,073 4
Slide 21: Share of JVs and Associates
Share of JVs and Associates Op Income EBITDA PAT Op Income EBITDA PAT Particulars % Share YTD Q2 YTD Q2 YTD Q2 YTD Q2 YTD Q2 YTD Q2 Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 FY22 FY21 FY22 FY21 FY22 FY21 Coal Companies (KPC, 30% / 3,112 1,583 1,083 279 520 47 5,641 3,365 1,766 631 799 131 BSSR
Slide 22: Underlying Consolidated EBITDA
Underlying Consolidated EBITDA Particulars Q2 FY 22 Q2 FY 21 Qtr Var YTD Q2 FY22 YTD Q2 FY21 YTD Var Reported EBITDA 1,732 2,276 (543) 4,097 4,313 (216) Less: PAT of JV Companies 623 196 427 989 373 616 KPC 396 33 363 618 103 515 BSSR 124 13 111 181 28 153 Coal Infra 44 36 9 84 89 (4) Powerlinks 10
Slide 23: Tata Power (Consolidated) Financial Performance
Tata Power (Consolidated) Financial Performance YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Acquisition of Odisha Discoms & higher execution of Operating Income 9,502 8,428 1,074 19,476 15,105 4,372 projects in TPSSL offset by lower generation in CG
Slide 24: Tata Power (Standalone) Financial Performance
Tata Power (Standalone) Financial Performance YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Operating Income 1,897 1,654 243 3,685 3,123 563 Higher generation & demand in mumbai operations Operating Expenses 1,341 1,090 (251) 2,619 1,999 (620) Higher
Slide 25: CGPL : Key Highlights
CGPL : Key Highlights YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remark FY22 FY21 Generation (MUs) 2,267 7,256 (4,989) 4,024 13,606 (9,582) Sales (MU) 2,138 6,696 (4,559) 3,727 12,554 (8,826) Availability (%) 28% 89% (61%) 24% 83% (59%) PLF (%) 25% 79% (54%) 22% 75% (
Slide 26: Coal Business (KPC): Key highlights
Coal Business (KPC): Key highlights Coal Company - KPC Q2 FY22 Q1 FY 22 Q4 FY 21 Q3 FY21 Q2 FY21 Coal Mined (MT) 14.4 14.9 14.3 15.3 15.0 Coal Sold (MT) 14.3 15.5 14.1 16.0 14.8 HBA 132.1 92.3 82.7 55.5 50.6 FOB Revenue (USD/T) 84.2 65.5 59.4 43.8 43.8 Royalty (USD/T) 11.9 9.0 8.8 6.1 5.9 Net Revenu
Slide 27: CGPL and Coal companies – Integrated performance
CGPL and Coal companies – Integrated performance CGPL Q2 FY22 Q2 FY21 Qtr Var YTD Q2 FY22 YTD Q2 FY21 YTD Var Revenue 219 1,902 (1,683) 1,192 3,644 (2,452) EBITDA (533) 312 (845) (63) 582 (646) PAT (863) (110) (753) (709) (265) (443) Coal & Infrastructure Business Q2 FY22 Q2 FY21 Qtr Var YTD Q2 FY22
Slide 28: Maithon Power Limited - Highlights
Maithon Power Limited - Highlights YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Generation (MUs) 2,056 1,575 481 4,083 3,132 951 Improvement in PLF & higher demand Sales (MUs) 1,977 1,503 474 3,816 2,916 900 Availability (%) (Plant) 99% 98% 0% 98% 97
Slide 29: Prayagraj Power Generation Co Ltd. - Highlights
Prayagraj Power Generation Co Ltd. - Highlights YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Generation (MUs) 3,007 2,639 368 6,019 5,046 973 Sales (MU) 2,828 2,472 356 5,668 4,728 940 Availability (%) 79.6% 76.0% 3.6% 82.4% 79.2% 3.3% PLF % 68.8% 60
Slide 30: Tata Power Delhi Distribution Ltd - Highlights
Tata Power Delhi Distribution Ltd - Highlights YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Purchase (Mus) 3,037 2,922 (115) 5,308 4,995 (313) Sales (Mus) 2,845 2,716 129 4,960 4,633 328 Revenue Per Unit 8.27 7.80 0.47 8.91 8.19 0.72 PPC Per Unit 6.1
Slide 31: Odisha Discoms – Highlights
Odisha Discoms – Highlights Q2 Highlights TPCODL TPSODL TPWODL TPNODL Purchase (Mus) 2,420 1,013 2,080 1,446 Sales (Mus) 1,871 807 1,716 1,160 Revenue per unit 5.10 5.43 5.97 5.91 Power Cost per unit 3.09 2.33 3.97 3.45 Vesting order Target Technical losses (%) 24.0% 25.0% 20.0% 19.0% Actual Technic
Slide 32: Tata Power Renewable Energy Ltd – Highlights
Tata Power Renewable Energy Ltd (Conso. excluding WREL) – Highlights YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Capacity - Total (MW) 1,748 1,478 270 1,748 1,478 270 Capacity - Wind (MW) 655 655 - 655 655 - Capacity - Solar (MW) 1,094 824 270 1,094
Slide 33: Walwhan Renewable Energy Ltd - Highlights
Walwhan Renewable Energy Ltd - Highlights YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Capacity - Total (MW) 1,010 1,010 - 1,010 1,010 - Capacity - Wind (MW) 146 146 - 146 146 - Capacity - Solar (MW) 864 864 - 864 864 - Generation (MUs) 411 382 28 87
Slide 34: Tata Power Solar Systems Limited – Highlights
Tata Power Solar Systems Limited – Highlights YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Higher revenue due to execution of projects in all the Operating Income 1,515 1,014 501 3,464 1,419 2,045 segments Operating expenses 1,438 933 (505) 3,329 1,3
Slide 35: Renewables – Consolidated View for Q2 FY22
Renewables – Consolidated View for Q2 FY22 Q2 FY22 RE Conso (with Elimination (Note Generation Elimination EPC) Key Indicators TPREL^ WREL Others# TPSSL 1) (Conso w/o (Note 2) After EPC) Elimination Capacity (MW) 1,748 1,010 195 - 2,953 - - 2,953 Revenue 377 292 43 (2) 710 1,515 (729) 1,495 EBITDA 3
Slide 36: Renewables – Consolidated View for YTD FY22
Renewables – Consolidated View for YTD FY22 YTD Q2 FY 22 YTD Q2 FY 21 Conso Conso Conso Conso Renewables (with Renewables (with Key Indicators Renewables Renewables EPC) EPC) (without EPC) (without EPC) After Elimination After Elimination Capacity (MW) 2,953 2,953 2,667 2,667 Revenue 1,423 3,081 1,3
Slide 37: Regulated - Equity and Assets
Regulated - Equity and Assets Particulars Q2 FY 22 Q1 FY 22 Q4 FY 21 Q3 FY 21 Q2 FY 21 Regulated Equity Mumbai Operation 4,212 4,212 4,204 4,042 4,023 Jojobera 522 522 522 522 522 Tata Power Delhi Distribution (100%) 1,764 1,748 1,679 1,633 1,624 TP Central Odisha Dist Ltd (100%) 300 300 300 300 300
Slide 38: Leverage Management - Debt Profile
Leverage Management - Debt Profile CONSOLIDATED PARTICULARS Q2 FY 22 Q1 FY 22 Q2 FY 21 Rupee Forex Total Total Total Long term 24,746 3,108 27,854 29,226 32,737 Short term 9,407 976 10,383 13,433 7,746 Current Maturity of LT 7,275 - 7,275 5,842 4,012 Total Debt 41,428 4,084 45,512 48,502 44,495 Less
Slide 39: Debt Profile
Debt Profile Total Gross Debt (LT + ST) Mar / (Inc) Mar / (Inc) Company 30th Sep 30th June 30th Sep Quarterly movement Remarks -3 - 12 2021 2021 2020 months months CGPL 4,528 4,451 (76) 8,078 3,550 Coal SPVs 4,084 3,708 (376) 4,042 (42) Increase in related party loans TPDDL 2,805 3,599 794 3,201 396
Slide 40: Latest Tata Power resources uploaded on website
Latest Tata Power resources uploaded on website Sr. No. Resources Link 1. Tata Power ESG Profile https://esg.churchgatepartners.com/login/CompanyProfile?id=3 10038003100240024004100530048004F004B0041004E0041004 E00590041004100560041004E004900410053004800570049004 E00490024002400 2. Tata Power Integr
Slide 41: Thank You!
Thank You! Website: www.tatapower.com Investor Relations Team: Mr. Soundararajan Kasturi Mr. Rahul Shah Chief – Treasury & Investor Relations Head – Investor Relations Email: kasturis@tatapower.com Email: rahuls@tatapower.com M: +91 82912 04022 M: +91 91370 34304 41
The Tata Power Company — Q2 FY22 Earnings Presentation on 6ix