Adani Energy Solutions Ltd · NSE:ADANIENSOL
Adani Energy Solutions — Adani Transmission — Q1 FY2021 Earnings Presentation
34 slides from Adani Energy Solutions's earnings presentation, August 2020
Slide 1: Adani Transmission Limited Q1FY21 Results Presentation
Adani Transmission Limited Q1FY21 Results Presentation August 2020
Slide 2: Contents
CONTENTS Adani Group ATL – Company Profile Operational Highlights 04-07 09-12 14-16 ADANI: World class infrastructure ATL: Manifesting Adani’s Infrastructure & utility portfolio 04 Excellence in T&D business 09 ATL: Operational Highlights Snapshot 14 ADANI: Repeatable, robust & ATL at a Glance 10-11
Slide 3: Adani Group
Transmission adani
Slide 4: Adani: World class infrastructure & utility portfolio
Adani: World class infrastructure & utility portfolio Adani Transport & Logistics Portfolio Adani Energy & Utility Portfolio Philosophical shift from B2B to B2C businesses – 63.5% 100% 75% 75% AGL – Gas distribution network to serve key APSEZ SRCPL ATL AGEL geographies across India Port & Logistics
Slide 5: Adani: Repeatable, robust & proven model to deliver RoE
Adani: Repeatable, robust & proven model to deliver RoE Development Operations Post Operations Phase Origination Site Development Construction Operation Capital Mgmt Analysis & market Site acquisition Engineering & design Life cycle O&M Redesigning the capital intelligence planning structure of the
Slide 6: Adani: Repeatable, robust business model applied consistently to drive value
Adani: Repeatable, robust business model applied consistently to drive value Successfully applied across Infrastructure & utility platform Development at large scale & within time and budget India’s Largest Longest Private HVDC 648 MW Ultra Mega Solar Largest Single Location Commercial Port Line in
Slide 7: ATL: A platform well-positioned to leverage growth opportunities in T&D business
ATL: A platform well-positioned to leverage growth opportunities in T&D business Execution Prowess Strategic Presence Healthy pool mix Transmission Network of Transmission - Present in 9 states Development with 21 transmission lines Transmission (FY20): 14,814 ckms1; 52% of EBITDA - Central pool Dis
Slide 8: Company Profile
Company Profile
Slide 9: Manifesting Adani's Infrastructure Excellence in T&D business
ATL: Manifesting Adani’s Infrastructure Excellence in T&D business Execution Strength and Pan Pan-India network & only private AEML - One of the best-run 3 million+ India Presence sector co. to operate 500 KV 93-year old integrated utility Retail Electricity Households HVDC in S-E Asia catering to g
Slide 10: ATL at a Glance (1/3)
ATL at a Glance (1/3) 100%1 74.9% 25.1% Transmission Distribution Qatar Investment SPV’s SPV Authority (QIA) 16 Operating SPVs, 9 under construction SPVs 1,2 Adani Electricity Mumbai Limited (AEML) Average remaining Concession Life Ckt Kms2 Ckt Kms ~31 yrs Catering to 3 Mn+ 1,892 MW of peak 5,591 Co
Slide 11: Transmission Utility at a Glance (2/3)
Transmission Utility at a Glance (2/3) ATL ROA TBCB (Section 63) Other SPVs (Section 62) Regulated Asset Base Portfolio TBCB Asset Base Portfolio No. of No. of 4 Assets 20 Assets Asset Base Asset Base(1) 107.3 137.1 (Rs. Bn) (Rs. Bn) Op. EBITDA Op. EBITDA FY20 (Rs. Bn) 16.8 8.0 FY20 (Rs. Bn) Operati
Slide 12: AEML (Distribution Utility) at a Glance (3/3)
AEML (Distribution Utility) at a Glance (3/3) Operating in Gateway City of Mumbai ATL Top 10 Centers of commerce in world 6% of India’s real GDP Other SPVs AEML QIA 4x Per capita income of India Stable and Evolved Regulatory Regime Regulated Integrated Utility AEML witnessed regulations since 1956 1
Slide 13: Operational Highlights
Adani Transmission Limited Debt Presentation | February 2 0 2 0 Transmission Operational Highlights 14
Slide 14: Operational Highlights - Snapshot
ATL: Operational Highlights - Snapshot Transmission Distribution Network Distribution Availability Consumers length Losses Q1FY21 99.90% 14,814 ckt km 3.05 million 13.47% Q1FY20 99.93% 14,217 ckt km 3.04 million 7.78% Distribution Supply Reliability Units Sold Collection E-payments (ASAI) (MU’s) Eff
Slide 15: Transmission Utility – Key Operating Metrics
ATL: Transmission Utility – Key Operating Metrics Average Availability Across Operational Assets % (1) Focus on Maximizing Incentives % Line Availability - Obligor Group Incentives – Obligor Group Normative Incentive 99.88% 99.78% 1.3% 1.3% 0.8% 0.8% 3.75% 3.75% 98.5% 98.5% 99.0% 99.0% 96.0% 96.0% Q
Slide 16: Operational Highlights - Distribution Utility
ATL: Operational Highlights - Distribution Utility SAIDI (# mins) and SAIFI (nos.)1 Supply Reliability (ASAI) (%) Distribution Loss (%) Declining Outage Time and Maintain 99.9% SAIFI SAIDI Outage Occurrences reliability 13.47% Target of <6% 18.89 99.992% 99.995% 569 bps 7.78% 9.98 0.32 0.57 Q1FY21 Q
Slide 17: Financial Highlights
Adani Transmission Limited Debt Presentation | February 2 0 2 0 Transmission Future Outlook Financial Highlights 14
Slide 18: Financial Highlights - Snapshot
ATL: Financial Highlights - Snapshot Consolidated Transmission Distribution Q1FY21 Q1FY20 Q1FY21 Q1FY20 Q1FY21 Q1FY20 Operating While the transmission Revenue 2,117 2,858 680 668 1,437 2,189 business performance is insulated from Covid disruptions, Distribution business saw drop in Operating 1,070 1
Slide 19: Transmission Utility - Revenue and Operating EBITDA Bridge
ATL: Transmission Utility - Revenue and Operating EBITDA Bridge Q1FY21 – Revenue bridge YoY Q1FY21 – Operating EBITDA bridge YoY 800 640 6 700 (2) 14 1 11 (18) 630 5 600 3 620 500 610 662 656 400 600 300 590 630 615 200 580 Q1 FY21 CWRTL MEGPTCL & WTPL & WTGL MEGPTCL Others Q1 FY20 Aurangabad ATIL -
Slide 20: Distribution Utility - Revenue and Operating EBITDA Bridge
ATL: Distribution Utility - Revenue and Operating EBITDA Bridge Q1FY21 – Revenue bridge YoY Q1FY21 – Operating EBITDA bridge YoY 2,300 1,300 ( 122 ) ( 17 ) (22) 7 (3) ( 752 ) 331 ( 595 ) 1,200 2,100 1,100 1,900 1,000 1,700 900 36 2 294 1,500 800 2,189 700 1,300 600 32 1,100 500 1,437 900 400 700 300
Slide 21: Business Update and Key initiatives
ATL: Business Update and Key initiatives • Transmission business: Lines operating at greater than 99.5% availabilities and no adverse impact on billing. • Distribution business: Being a regulated asset no significant impact on EBIDTA margin. Due to lockdown, power demand was down by around 25% drive
Slide 22: Key Focus Areas FY21 and Beyond
ATL: Key Focus Areas FY21 and Beyond Liquidity Management Growth • Focus on maintaining adequate liquidity cover to swiftly mitigate ATL well placed to capture future growth through multiple current uncertainties avenues: • Fully covered in-terms of debt servicing for next 12 months by Robust un
Slide 23: ESG
Adani Transmission Limited Debt Presentation | February 2 0 2 0 Transmission ESGESG 08
Slide 24: Integrated ESG Framework for enhanced value creation
ATL: Integrated ESG Framework for enhanced value creation Technological advancement for minimal downtime during maintenance better availability increased EBITDA TARGET BY SEP 2021 Renewable Power Procurement at below APPC tariff reduction for 12 mn Mumbai consumers 12x growth in renewable power proc
Slide 25: ESG Quarterly Performance and Initiatives
ATL: ESG Quarterly Performance and Initiatives ESG Performance (Q1FY21) ESG Initiatives 1.23 % ↓* • ATL became the signatory to India Business & Auxiliary Power Consumption at Biodiversity Initiative (IBBI) for incorporation of ADTPS (85.5 Million GJ) Biodiversity management in business operations.
Slide 26: Inculcating Safety Culture
ATL: Inculcating Safety Culture Safety Initiatives in Q1FY21 Safety Performance in Q1FY21 • 16,669(1) man-hours of safety training and awareness Safety Parameters Q1FY21 Q1FY20 • Adani one-drive based ‘Safe Library’ launched. The library has training modules, learning from incidents, monthly HSE dat
Slide 27: Annexure
Adani Transmission Limited Debt Presentation | February 2 0 2 0 Transmission Annexure (Detailed Financials, Credit Rating, Asset Portfolio) 22
Slide 28: P&L Q1FY21 vs. Q1FY20
ATL: P&L Q1FY21 vs. Q1FY20 (Rs in Crore) Q1 FY21 Q1 FY21 Q1 FY21 Q1 FY20 Q1 FY20 Q1 FY20 Sr No. Particulars % change Transmission Distribution (Consolidated) Transmission Distribution (Consolidated) 1 Revenue 1.1 Net Transmission & Distribution Charges 662 1,437 2,099 656 2,189 2,845 1.1.a Transmiss
Slide 29: P&L Q1FY21 vs. Q4FY20
ATL: P&L Q1FY21 vs. Q4FY20 (Rs in Crore) Q1 FY21 Q1 FY21 Q1 FY21 Q4 FY20 Q4 FY20 Q4 FY20 Sr No. Particulars % change Transmission Distribution (Consolidated) Transmission Distribution (Consolidated) 1 Revenue 1.1 Net Transmission & Distribution Charges 662 1,437 2,099 672 1,624 2,296 1.1.a Transmiss
Slide 30: ATL is rated Investment Grade from FY16 and beyond
ATL is rated Investment Grade from FY16 and beyond International- Obligor Group SPV Ratings - Domestic Rating Agency Facility Rating/Outlook Company Rating Agency Rating Outlook Fitch Dollar Bond BBB-/Negative ATL CARE, India Rating AA+ Stable S&P Dollar Bond BBB-/Stable WTGL India Ratings AA+ Stabl
Slide 31: ATL's Evolution and Operational Portfolio
ATL’s Evolution and Operational Portfolio ATL’s Transmission Network (ckt km) has grown 2.7x Adani Transmission Limited in 3 years; and Distribution business acquired in FY19 ATL’s “Grid-to-Switch” Integrated Platform 100% 100% 75% 100% 100% 100% 100% 100% 100% 100% 100% ATSCL & WTGL, PPP ATIL MEGPT
Slide 32: Locked-in Growth from Under-construction TBCB Projects
ATL: Locked-in Growth from Under-construction TBCB Projects Adani Transmission Limited 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Ghatam- Obra-C WRSS – Bikaner - Lakadia Kharghar NKTL Jam Kham- FBTL Banas- HVDC# pur Badaun XXI (A) Khetri baliya - Vikhroli kantha North Fategarh Ghatampur
Slide 33: Thank You
adani Transmission adani Transmission Thank You ze
Slide 34: Legal Disclaimer
Legal Disclaimer The information contained in this presentation is provided by Adani Transmission Limited (together with its subsidiaries, the “Company” or “ATL”) to you solely for your reference and for information purposes only. This presentation is highly confidential and is being given solely fo