Jsw Energy Limited · NSE:JSWENERGY
Jsw Energy — Q3 FY2011 Earnings Presentation
40 slides from Jsw Energy's earnings presentation, January 2011
Slide 1: Lighting up a billion dreams
Mining | Equipment Manufacturing | Power Generation | Power Transmission | Power Trading LIGHTINGUP § JSW Energy Lighting up a billion dreams
Slide 2: Agenda
ECONOMIC INDICATORS COMPANY OVERVIEW MAJOR DEVELOPMENTS PERFORMANCE HIGHLIGHTS BUSINESS STRATEGY Projects’ Update 2
Slide 3: Power leads Industrial Growth
Power leads Industrial Growth GDP Growth (yoy) Still Robust Source: Ministry of Commerce, RBI 3
Slide 4: Total Installed Capacity 170 GW
Total Installed Capacity (GW) Fuel Source Matrix (GW) PRIVATE SECTOR 20.7% CENTRAL SECTOR 30.9% STATE SECTOR 48.4% Total Installed Capacity 170 GW As on Dec 31, 2010 India: World’s 6th largest energy consumer yet a power deficit country Source: CEA 4
Slide 5: Capacity Addition and Peak Demand/Supply
Capacity Addition : AprDec 2010 (MW) Peak Demand/Supply (GW) April – December 2010 66% of Target Achieved Deficit in power availability is a significant impediment to economic growth Source: CEA 5
Slide 6: Company Overview
COMPANY OVERVIEW
Slide 7: Established power company with profitable operations
240 MW 270 MW 810 MW Kutehr 270 MW 1,620 MW Established power company with profitable operations p p since inception p Barmer in FY 2000 Jharkhand West Bengal Chhattisgarh Operating capacity capacity‐‐ Current: 1,730 MW 1,620 MW 1,320 MW By 2011 2011:: 3,140 MW Ratnagiri 600 MW Vijayanagar By 20
Slide 8: Fuel Mix Composition
Fuel Mix Composition 6 MT 20 MT Imported Coal Strategy •Owned / Stake Held Mines •Long term tieups •Spot Market procurement 8
Slide 9: Major developments
Unit II Barmer Project (135 MW) achieved COD on October 4, 2010 Unit II Ratnagiri Project (300 MW) achieved COD on December 30, 2010 Refinanced ` 1,769 1 769 Crores resulting in reduction of cost of 1.59% 1 59% p.a. pa PPA signed i d with ith WBMTDC for f 25% off power on Dec D 2929, 2010 PPA si
Slide 10: Performance Highlights
PERFORMANCE HIGHLIGHTS
Slide 11: Capacity Growth (MW)
Capacity Growth (MW) 53% 14% Steady capacity build up from 995 MW (Dec ’09) to 1730 MW (Dec ‘10) 11
Slide 12: Net Generation and Volume Growth
Net Generation (Million kwh) Volume Growth (Million kwh) 78% 45% 12
Slide 13: Sales Mix and Realisation
Sales Mix ( Million kwh) 1,648 2,396 3,379 6,003 Realisation ` per kwh Q3 FY 2010 Q3 FY 2011 9M FY 2010 9M FY 2011 Short Term Realisation 4.57 4.87 5.06 5.10 Long Term Realisation 3.33 3.59 3.33 3.60 Average Realisation 4.23 4.43 4.59 4.60 13
Slide 14: Turnover, EBITDA, PAT, EPS
711 1,586 Turnover (` Crores) 1,110 2,968 396 899 EBITDA (` Crores))) 387 1,244 56 % 57 % EBITDA (%) 35 % 42 % 88 197 I t Interest t (` Crores)) C )) 142 310 42 89 Depreciation (` Crores) 74 176 266 612 PBT (` Crores) 171 758 205 472 PAT (` Crores) C ) 153 636 1.46 3.43 EPS (`) (Not Annualised) 0.93
Slide 15: Net Worth, Debt, Net Fixed Assets
Net Worth (` Crores) 4,780 5,668 Debt (` Crores) 7,870 9,349 Net Fixed Assets (` Crores) * 11,598 13,119 Debt Equity Ratio (Times) 1.65 1.65 Weighted Average Cost of Debt 11.51 % 10.84 % *Including CWIP 15
Slide 16: Gross Proceeds received from IPO
Project Actual Amount Utilisation Utilisation as Spent upto per Prospectus Dec 31, 2010 Part Finance for Identified Projects, 2230 1,043 Share Issue Expenses & General Corporate Purpose Repayment of Corporate Debt 470 470 Unutilised Amount invested in MF/ Bank FD/ Utilised for 1,187 reduction of O
Slide 17: Objective, Scope and Benefit
OPE BJECTIIVE BENEFIT • Attractive • Access to new portfolio of business SCO generation • Secure and opportunities assets sustain core business • Balanced mix of OB power off take • Cost C arrangements Reduction as • Harness a result of growth g integration • Backward and opportunity Forward provide
Slide 18: Projects' Update
PROJECTS’ UPDATE
Slide 19: Project Details Status Update - Barmer
Project Details Status Update Gross Capacity 1,080 MW (8 x 135) •Unit II COD October 4, 2010 Technology Subcritical Captive Lignite based TPP •Unit III & IV boiler hydro test completed FSA with BLMCL (49% JV) for supply •Tapering coal linkage approved by Fuel Linkage of lignite from captive lignite
Slide 20: Project Details Status Update - Ratnagiri
Project Details Status Update bi Gross Capacity 1200 MW (4 x 300) •Unit II COD December 30, 2010 Technology h l S b i i l Imported Subcritical dCCoall based b d TPP •Unit III & IV Generator rotor insertion completed Long term supply arrangement for Fuel Linkage Indonesian coal & mines in South Afri
Slide 21: Project Details Status Update - West Bengal
Project Details Status Update Gross Capacity 1620 MW • Land in possession 1,320 MW Supercritical Domestic •PPA signed with WBMTDC for 25% of Technology coal based TPP; 300 MW Sub power critical •Agreement executed for coal raising & 74 % JJSWEL coal p procurement Share Holding 26 % JSW Benga
Slide 22: Project Details Status Update - Chhattisgarh
Project Details Status Update Gross Capacity 1,320 MW (2 x 660) • PPA signed with GoCG for 35% of power on Jan 5, 2011 Supercritical p domestic coal based T h l Technology •Public hearing completed, EC TPP application under process MoU signed with GoCG for setting up Authority a TPP along with inte
Slide 23: Project Details Status Update - Kutehr Hydro
Project Details Status Update •Public bl h hearing f for Environment Gross Capacity 240 MW (3 x 80) clearance held successfully •Pre qualification of civil & construction Technology Runoftheriver Hydropower agencies completed Water •NOC received from irrigation and Ravi River public health depart
Slide 24: Project Details Status Update
Project Details Status Update Gross Capacity 660 MW (1 x 660) • Land identified Technology Super critical coal based TPP •Plant layout finalised Imported coal / Domestic linkage • MOEF approval under consideration Fuel Linkage coal Water Source Almatti Dam •DPR under preparation Merchant p power & L
Slide 25: Project Details Status Update
Project Details Status Update Gross Capacity 270 MW (2 x 135) • Land in possession Subcritical Captive lignite based Technology TPP •Applied for coal linkage Fuel Linkage Applied to Ministry of Coal Water Allocation from IGNP Allocation Short Term power purchase Power Off take arrangements Total Cos
Slide 26: Project Details Status Update
Project Details Status Update Gross Capacity 3 200 MW (4 x 800) 3,200 •Substantial S b i l land l d in i possession i Supercritical imported coal based Technology •In the process of obtaining TPP necessary consents and approvals Letter of support from Government Authority of Maharashtra Fuel Linkag
Slide 27: Project Details Status Update - Jharkhand
Project Details Status Update Gross Capacity 1620 MW (2 x 660, 660 1 x 300) •Land identified 1,320 MW Supercritical Domestic Technology coal based TPP; 300 MW Subcritical •Applied for coal linkage Authority MoU with GoJ Water is proposed to be sourced from Water Allocation the Subarnarekha river
Slide 28: Power Transmission Project
Power Transmission Project
Slide 29: Project Details Status Update - Transmission
Project Details Status Update Gross Capacity 165 Km, 400 KV Transmission •Entire Jaigad – Koyna Line successfully charged Double Circuit Quad Moose T h l Technology Conductor Line •Jaigad – Karad: •Tower Foundations: 93% Procurement Orders placed •Tower Erection: 69% •Stringing: Stringing: 36% ` 580
Slide 30: Equipment Manufacturing Project, Mining Projects
Equipment Manufacturing Project • Mining Projects
Slide 31: Project Details Status Update - Equipment Manufacturing
Project Details Status Update Blade shop building completed Gross Capacity 3GW Steam Turbine Generators Building & Equipment Warehouse completed Super critical steam turbines of Technology size 5001000 MW Temporary power received at site Procurement All orders placed Total project completion 76% Bl
Slide 32: Mining Status Update
Status Update BLMCL Kapurdi Mine Mine development process commenced at Kapurdi Over 35 million cubic metre of overburden removed Expected to extract lignite in Q4 FY 2011 MOEF Clearance received BLMCL Jalipa Mine Mine development plan approved Land acquisition under progress MJSJ Coal Public heari
Slide 33: SACMH Status Update
SACMH Status Update Umlabu & Ilanga (Wit Bank Region), South Location •Resumed operation from raw coal Africa produced of 89,075 million tonnes till December 31, 2010 USD 50 Million (Total funding required over Total time) to be spent overtime Investment Actual spent till Dec 31, 2010 : •Wash plant
Slide 34: Plant Overview
Plant Overview 34
Slide 35: Plant Overview
Plant Overview 35
Slide 36: Gantry View at Karad end
Gantry View at Karad end 400 KV Power line crossing at Karad End 36
Slide 37: Blade Shop Office Site Overview
Blade Shop Office Site Overview 37
Slide 38: 38
38
Slide 39: Forward-looking statements disclaimer
Certain statements in this report p concerningg our ffuture ggrowth pprospects p are fforward looking g 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 risk and uncertainties relati
Slide 40: 40
40