Adani Power Limited
Presentation for BOBCAPS Investor Conference
- 1st March 2024
Disclaimer
Certain statements made in this presentation may not be based on historical information or facts and may be "forward-looking statements," including those relating to general business plans and strategy of Adani Power Limited ("APL") and its subsidiaries , associates, and joint ventures (combine together "Adani Thermal Power Group" or "The Group") their future outlook and growth prospects, and future developments in their businesses and their competitive and regulatory environment, and statements which contain words or phrases such as 'will', 'expected to', etc., or similar expressions or variations of such expressions. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in their business, their competitive environment, their ability to implement their strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in the country the business is. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, or a solicitation of any offer, to purchase or sell any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of The Group's shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or in relation to the shares shall be deemed to constitute an offer of or an invitation by or on behalf of The Group.
The Group, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation.
The Group assumes no responsibility to publicly amend, modify or revise any forward looking statements, on the basis of any subsequent development, information or events, or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. The Group may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of The Group.
This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it's should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom.
Table of Contents
- About Adani Portfolio
- About Adani Power Limited (APL)
- Power Sector Growth Outlook
- APL: Strategic Advantages
- APL: Performance Highlights
- ESG Practice at APL
- Conclusion
3
1
About Adani Portfolio
STRICTLY CONFIDENTIAL
Adani Portfolio: A World class infrastructure & utility portfolio
Flagship
Infrastructure & Utility Core Portfolio
Primary Industry
Emerging B2C
Incubator
(72.6%)
AEL
Energy & Utility
(56.4%)(73.2%)
AGEL | AESL | |
Renewables | T&D | |
(37.4%) | (71.8%) | |
ATGL2 | APL | |
Gas Discom | IPP | |
Transport & Logistics
(65.9%) | (100%) | |
APSEZ | NQXT1 | |
Ports & Logistics | ||
Materials, Metal &
Mining
(63.2%)
Cement4
(100%)
Copper, Aluminum
(100%)
PVC
(100%)
Specialist
Manufacturing5
Direct to consumer
(44.0%)
AWL
Food FMCG
(64.71%)
NDTV
(100%) | (50%) | (100%) | (100%) | |||
ANIL | AdaniConneX3 | AAHL | ARTL | |||
New Industries | Data Centre | Airports | Roads | |||
(%): Promoter equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries
(100%)
Mining Services & Commercial Mining
(100%)
ADL
Digital
A multi-decade story of high growth centered around infrastructure & utility core
1. NQXT: North Queensland Export Terminal | 2. ATGL: Adani Total Gas Ltd, JV with Total Energies | 3. Data center, JV with EdgeConnex, | 4. Adani Cement includes 63.19% stake in Ambuja Cements which in turn owns 50.05% in ACC Limited. Adani directly owns 6.64% stake in ACC Limited | 5. Includes the manufacturing of Defense and Aerospace Equipment | AEL: Adani Enterprises L imited; APSEZ: Adani Ports and Special Economic Zone Limited; AESL: Adani Energy Solutions Limited; T&D: Transmission &
Distribution; APL: Adani Power Limited; AGEL: Adani Green Energy Limited; AAHL: Adani Airport Holdings Limited; ARTL: Adani R oads Transport Limited; ANIL: Adani New Industries Limited; AWL: Adani Wilmar Limited; ADL: Adani Digital Limited; IPP: | 5 |
Independent Power Producer | NDTV: New Delhi Television Ltd | PVC: Polyvinyl Chloride l Promotors holding are as on 31st Dece mber,2023 |
Adani Portfolio: Decades long track record of industry best growth with national footprint
Secular growth with world leading efficiency | National footprint with deep coverage |
Growth 3x 6 | Growth 4x 6 | |
EBITDA 70% 1,2 | EBITDA 92% 1,4 | |
AEL | ||
Growth 3x 6 | Growth 1.4x 6 | APSEZ |
AGEL | ||
ATGL | ||
EBITDA 91% 1,3,5 | EBITDA 19% 1,3 | AESL |
APL
Adani Cement
Adani's Core Infra. Platform -
320 Mn Userbase
Note: 1. Data for FY23; 2. Margin for indian ports business only, Excludes forex gains/losses; 3. EBITDA = PBT + Depreciation + Net Finance Costs - Other Income; 4. EBITDA Margin represents EBITDA earned from power supply 5. Operating EBITDA
margin of transmission business only, does not include distribution business, 6. Growth pertains to expansion and development aligned with market growth. Growth of respective Adani portfolio company vs. Industry growth is as follows: APSEZ's cargo volume surged from 113 MMT to 339 MMT (13%) between 2014 and 2023, outpacing the industry's growth from 972 MMT to 1433 MMT ( 4%). AGEL's operational capacity expanded from 0.3 GW to 8.1 GW (60%) between 2016 and 2023, surpassing the industry's growth from 46 GW to 125 GW (15%). AESL's transmission length increased from 6,950 ckm to 19,779 ckm (16%) between 2016 and 2023, surpassing the industry's growth from 3,41,551 ckm to 4,71,341 ckm (5%). ATGL expanded its geographical 6 areas from 6 to 52 (31%) between 2015 and 2023, outperforming the industry's growth from 62 to 293 (21%). PBT - Profit before tax, ATGL-Adani Total Gas Limited, AEL: Adani Enterprises Limited, APSEZ: Adani Ports and Special Economic Zone Limited,
AESL: Adani Energy Solutions Limited, APL: Adani Power Limited, AGEL: Adani Green Energy Limited l Growth represents the comp arison with respective industry segment.
Adani Portfolio: Repeatable, robust & proven transformative model of investment
Phase
Center of Excellence
Origination |
Development | Operations | Post Operations | ||
Project Management & Assurance Group | AIMSL1 | Policy -Strategy - Risk | ||
Site Development | Construction | Operation | Capital Management |
Activity | • | Analysis & market |
intelligence | ||
• | Viability analysis | |
• | ||
Strategic value | ||
Performance | India's Largest | |
Commercial Port | ||
(at Mundra) | ||
Highest Margin | ||
among Peers | ||
- Site acquisition
- Concessions & regulatory agreements
- Investment case development
Longest Private HVDC
Line in Asia
(Mundra - Mohindergarh)
Highest line availability
- Engineering & design
- Sourcing & quality levels
- Equity & debt funding at project
2,140 MW Hybrid cluster operationalized in Rajasthan in FY23
India's first and World's largest solar- wind hybrid cluster
- Life cycle O&M planning
- Asset Management plan
Energy Network Operation Center (ENOC)
Centralized continuous monitoring of plants across India on a single cloud based platform
- Redesigning capital structure of assets
- Operational phase funding consistent with asset life
- Duration Risk Matching
- Forex Currency Risk Management
- Interest Rate Risk management
- Governance & Assurance
(ABEX -Adani Business Excellence)
102March6 | 5% | March2023 | |||
11% | |||||
14% | 34% | ||||
15% | |||||
31% | 55% | ||||
2% | 3% | ||||
29% |
Note | 1 Adani Environmental Resource Management Services Ltd. (additional company is being proposed) | PSU | Pvt. Banks | Bonds | NBFCs & FIs | |
O&M: Operations & Maintenance, HVDC: High voltage, direct current, PSU: Public Sector Undertaking (Public Banks in India), GM TN: Global Medium-Term Notes SLB: Sustainability | DII | Global Int. Banks | PSU - Capex LC | 7 | ||
Linked Bonds, AEML: Adani Electricity Mumbai Ltd., AIMSL : Adani Infra Mgt Services Pvt Ltd, IG: Investment Grade, LC: Letter of Credit, DII: Domestic Institutional Investors, COP26: | ||||||
2021 | United Nations Climate Change Conference; AGEL: Adani Green Energy Ltd . ,NBFC: Non -Banking Financial Company |
2
About Adani Power Limited (APL)
STRICTLY CONFIDENTIAL
APL: Multifaceted power producer
Core Business
Power Generation
India's largest private
thermal power producer
Ultra-modern fleet with strong growth pipeline
Embedded Expertise
Logistics
Solid fuel and fly ash: Sourcing and disposal logistics management
Embedded logistics
function among India's
largest
Value Enhancement
Training and Vendor
Development
High quality manpower
development and
knowledge dissemination
Critical spares and vendor
development
Emerging Opportunities
Waste Management
Value creation out of
waste products
Strengthening of local
industrial base
Reliable and efficient power supplier on growth path built on core strengths
9
Operating Portfolio Overview: Strategically located, diversified fleet
Category
Highlight
Udupi
(Karnataka)
Coastal, Utility
Fixed RoE
100% | ||||||
Tiroda | Raipur | Mahan | Raigarh | |||
(Chhattis- | (Chhattis- | |||||
(Maharashtra) | Ph-I (MP) | |||||
garh) | garh) | |||||
Near-Pithead Plants
High | Open | |
Dispatch | ||
Kawai
(Rajasthan)
Hinterland
High Dispatch
Mundra
(Gujarat)
Coastal
High Dispatch / Open
100%
Godda
(Jharkhand)
Hinterland
(Transnational)
Fuel pass-through
100%
Mahan
Ph-II (MP)
Near-Pithead Plants
83% tie up w. Fuel
pass-through
(Under development)
Capacity | 1,200 | 3,300 | 1,370 | 1,200 | 600 | 1,320 | 4,620 | 1,600 | 1,600 |
(MW) | |||||||||
(600MW x 2) | (660MW x | (685MW x 2) | (600MW x 2) | (600MW x 1) | (660MW x 2) | (330MW x 4) Sub- | (800MW x 2) | (800MW x 2) | |
Technology | 5) | critical / (660MW x | |||||||
Subcritical | Supercritical | Subcritical | Subcritical | Supercritical | Ultra-supercritical | Ultra-supercritical | |||
Supercritical | 5) Supercritical | ||||||||
Category | Near-pithead | Coastal | Hinterland |
Capacity MW | 8,070 (48%) | 5,820 (35%) | 2920 (17%) |
Supercritical / Ultra-supercritical | 78% | 57% | 100% |
Portfolio of modern and efficient fleet of 16.85 GW with operating capacity of 15.25 GW
1. Mahan Phase - 2 plant currently under construction - units expected to commercialise in Dec 2026 and Jun 2027 | 10 |
Mahan and Godda plants are owned by APL's wholly owned subsidiaries Mahan Energen Limited and Adani Power (Jharkhand) Limited respectively | GW: Giga Watt; MW: Mega Watt; MP: Madhya Pradesh; RoE: Return on Equity | |
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Disclaimer
Adani Power Limited published this content on 01 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 March 2024 11:12:21 UTC.