Waaree Renewable Technologies Ltd · NSE:WAAREERTL
Waaree Renewable Technologies — Q3 FY2023 Earnings Presentation
44 slides from Waaree Renewable Technologies's earnings presentation, Feb 14, 2023
Slide 1: Execution with Pace & Comfort
Execution with Pace & Comfort February 14, 2023 The Manager (Listing) BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Fort, Mumbai 400 023 Dear Sir/Madam, Scrip No.534618 Subject: Investor Presentation on Q3FY23 (Quarter and Nine months ended December 31,2022) Financial Results. Pursuant to Re
Slide 2: Investor Presentation – February 2023
Investor Presentation – February 2023
Slide 3: Safe Harbor
Safe Harbor This presentation and the accompanying slides (the “Presentation”), which have been prepared by Waaree Renewable Technologies Limited (the “Company’), have been prepared solely for information purposes and do not constitute any offer, recommendation or invitation to purchase or subscribe
Slide 4: Group Overview
WAAREE RENEWABLE TECHNOLOGIES LIMITED Investor Presentation GROUP OVERVIEW February 2023
Slide 5: Vision, Mission & Values
Vision, Mission & Values VISION MISSION Our Vision is to provide high quality and cost-effective By virtue of our commitment to our stakeholders, we strive for sustainable energy solutions across all the markets, reducing continuous improvement in the quality of our products & carbon footprint - pav
Slide 6: Vertically Integrated with Global Operations
Vertically Integrated with Global Operations 32 Years of 7 GW Module 5 GW+ TIER 1 #1 Indian Module Products Exported in Industry Experience Manufacturing Modules Supplied Solar Module Manufacturer* 68+ Countries Facility Globally Manufacturer WAAREE RENEWABLE TECHNOLOGIES 1+ GW Projects Commissioned
Slide 7: Corporate Structure
Corporate Structure Waaree Energies Limited (WEL) Step down Subsidiaries Subsidiaries of WEL 74.51% Waaree Renewable Technologies Ltd 100% 51% 100% 100% WAAREE RENEWABLE TECHNOLOGIES Sangam Rooftop Solar Private Limited Waasang Solar Waasang Solar Waaree PV (Formerly known Private Limited One Privat
Slide 8: Technologically Advanced End To End Solar Solutions
Technologically Advanced End To End Solar Solutions Solar Modules Module Mounting EPC Services Structures Rooftop Solutions Floating Solar On Grid Inverters Off Grid Inverters Energy Storage Lithium Ion Batteries Solutions WAAREE RENEWABLE TECHNOLOGIES Solar Products, Water Solar Thermal Solar Partn
Slide 9: Indian Market Driven by Secular Growth Trends
Indian Market Driven by Secular Growth Trends Solar capturing lion’s share of renewable energy …possesses the highest potential amongst renewable …possesses the highest potential amongst installed capacity,… energy sources in India with ubiquitous presence… renewable energy sources in India with ubi
Slide 10: Company Overview
WAAREE RTL Execution with Pace & Comfort COMPANY OVERVIEW
Slide 11: Full Services Offering With Proven Experience
Full Services Offering With Proven Experience ENGINEERING PROCUREMENT CONSTRUCTION o Project Systems o PV Modules o Land Development o Electrical o Inverters o Structure o Structural & Civil o Structures o Control Room o Monitoring o Cables o Roads & Drainage o Evacuation o Transformers o Evacuation
Slide 12: End to End Capabilities
End to End Capabilities Installation & Commissioning Adherence to EHS and Quality Power Evacuation Pre-Feasibility Studies End to End Capabilities Expertise in Statuary & Liasoning Land and Site Identification WAAREE RENEWABLE TECHNOLOGIES Expert In House Design & Procurement Team Design & Manufactu
Slide 13: Experienced Board of Directors
Experienced Board of Directors Nilesh Bhogilal Gandhi Chairman & Non Independent Director He holds a Bachelor's degree in Commerce, an LLB, and an FCA. He has over 30 years of experience in finance, power, and renewables and has previously been associated with companies such as Waacox Energy Pvt Ltd
Slide 14: Experienced Board of Directors
Experienced Board of Directors Viren Chimanlal Doshi Director He has been associated with our company since November 26, 2007, and currently, he is responsible for overseeing the engineering, procurement, and construction of the solar projects of our company, its subsidiaries, and other companies wi
Slide 15: Management Team
Management Team Mr. Sunil Rathi Mr. Mayur Mehta Mr. Ravikesh Singh Ms. Heema Shah Director Sales Assistant Vice President - SCM Vice President - EPC Company Secretory & Compliance Officer ⇒ He holds a BE in Electronics and an ⇒ He holds a BE in Production from ⇒ He holds a Bachelor of Electrical ⇒ S
Slide 16: Marquee clients
Marquee clients WAAREE RENEWABLE TECHNOLOGIES Waaree Renewable Technologies Limited 15
Slide 17: Strong Progress Towards Sustainability Ambitions
STRONG PROGRESS TOWARDS SUSTAINABILITY AMBITIONS
Slide 18: Sustainability Roadmap
Sustainability Roadmap International Order Operation & Supply Maintenance Cutting-edge R&D Presence Execution Chain Resilience Explore more Refined management Expand the O&M Establishing strong Ensure a reliable and opportunities in processes to execute portfolio in order to technical knowhow by sta
Slide 19: Full-Service Plug & Play Model of Development
Full-Service Plug & Play Model of Development Single Location Aggregated & Developed Land on Free-Hold basis Solar Park Solution For Captive Solar Project Ready & Robust Evacuation Infrastructure (Transmission Line & GSS Bay) On Shared Basis WAAREE RENEWABLE Plug-n-Play Solution with proven Expertis
Slide 20: Floating Solar Solutions
Floating Solar Solutions Technology validated by NIOT (National Institute of Ocean Technology) Durable & Reliable o Stable against high winds, waves o Tolerates variation in water draft o Freshwater or seawater compatible o Corrosion resistant metal structures o PV module engineered for marine use N
Slide 21: Advanced Operation & Maintenance
Advanced Operation & Maintenance Our O&M Advantage o Over 125 MW O&M Portfolio of solar power plant assets o Achieved 99%+ of plant available time and 80%+ of PR for the asset under management o Leveraging tech-based data analytics, technical audits, consulting and R&D to improve overall plant effic
Slide 22: Long Tail of Revenues from O&M
Long Tail of Revenues from O&M O&M Project Details Capacity (KWp) AMC Projects* 4,44,964 RESCO Projects* 36,613 Total 4,81,577 WAAREE RENEWABLE TECHNOLOGIES *AMC - Annual Maintenance Contract; *RESCO – Renewable Energy Service Company Waaree Renewable Technologies Limited 21
Slide 23: Unique Propositions
Unique Propositions CUSTOMER CONNECT INNOVATION Strong Customer base of Consistent Introduction of new Respected industrial technologies & Innovative House/Companies products & Solutions MARKET ACCEPTANCE IN HOUSE TEAM Proven Name & Quality at Experienced & Strong Team Competitive rated in national
Slide 24: EPC Accomplishments
EPC Accomplishments R&D Team In House R&D team for New Technology Development 50+ MW 50+ MW ( More Than 400 Project ) (10000+ Projects) Roof Top Mounted Franchisee Project 350+ MW 1.2 MW Project site under Planning & (2 Floating Solar Projects) Execution Phase 1+ GW 600+ KW (More Than 50 Projects) G
Slide 25: Our Growth Strategy
Our Growth Strategy Achieve higher growth in the EPC segment ⇒ Evaluating opportunities in both international and domestic markets to secure more EPC contracts New business opportunity: Green Expand in O&M markets Hydrogen ⇒ We are exploring opportunities and are already ⇒ The size of the O&M market
Slide 26: Unparalleled Excellence in Project Execution
WAAREE RENEWABLE TECHNOLOGIES UNPARALLELED EXCELLENCE IN PROJECT EXECUTION
Slide 27: Key Ongoing Projects (350 MWp+)
Key Ongoing Projects (350 MWp+) Masaya Solar Khandwa 220 kV Switchyard Khandwa SSSSPL Solapur WAAREE RENEWABLE TECHNOLOGIES Continuum Solar Rajkot Shri Godiji Plant Chikali Denso Manesar Waaree Renewable Technologies Limited 26
Slide 28: Excellence in commissioned projects
Excellence in commissioned projects 81 MWp 49.5 MWp 58 MWp Leading Utility Scale Song Giang Solar Waaneep Solar Pvt. Ltd. Provider INDIA VIETNAM ANDHRA PRADESH 56 MWp 40 MWp 27.5 MWp Waaneep Solar Pvt. Ltd. Adani Power Roha Dyechem MADHYA PRADESH GUJARAT RAJASTHAN WAAREE RENEWABLE 27 MWp 21 MWp 10 M
Slide 29: Over 50+ MW Of Roof Top Projects Commissioned
Over 50+ MW Of Roof Top Projects Commissioned 1200 KW 2000 KW 1860 KW MondelezIndia PvtLtd Maharashtra Seamless Mumbai Metro (Cadbury) ANDHRA Limited MAHARASHTRA PRADESH 1700 KW 1000 KW 1000 KW Primal Glass Limited SRG Apparels Surat Municipal GUJARAT TAMILNADU Corporation SURAT WAAREE RENEWABLE 700
Slide 30: Masaya Solar Plant 150 MW/210 MWp
Masaya Solar Plant 150 MW/210 MWp • Masaya Solar, a 150 MW ( 210 MWp) solar plant in India is located in Khandwa district of Madhya Pradesh. • It will supply energy for 25 years to the government-owned Solar Energy Corporation of India (SECI). • The project will be connected through a 220KV transmis
Slide 31: Continuum Rajkot Gujarat 100 MW/140 MWp
Continuum Rajkot Gujarat 100 MW/140 MWp • It is the largest Wind Solar Hybrid Power Project in Gujarat with a capacity of 239.9 MW Wind-Solar Hybrid Project. • It is located in Rajkot & Morbi districts of Gujarat WAAREE RENEWABLE TECHNOLOGIES Waaree Renewable Technologies Limited 30
Slide 32: Denso Jhajjar, Haryana 1000 kWp
Denso Jhajjar, Haryana 1000 kWp • It is a 1000 KWp solar project located at Jhajjar, Haryana. • It’s a Roof Top Solar Project having design features like A1 structure, 10 in & 1 out ACCB, sprinkler system, DC & AC cables, FRP Walkway and handrails WAAREE RENEWABLE TECHNOLOGIES Waaree Renewable Techn
Slide 33: Song Giang Solar Power Vietnam 45 MW/49.5 MWp
Song Giang Solar Power Vietnam 45 MW/ 49.5 MWp • The project, in association with Song Giang Solar Power JSC, marks Waaree's footprint in South East Asia. • It is a 49.5MWp ground mounted solar project in Vietnam and is approved by Vietnam Electricity WAAREE RENEWABLE TECHNOLOGIES Waaree Renewable T
Slide 34: Financial Highlights
FINANCIAL HIGHLIGHTS
Slide 35: Key Updates
Key Updates Letter of Acceptance for execution of Engineering, Procurement and Construction (EPC) works of a solar power project o Of 154MWp DC capacity on turnkey basis along with five years of operation & maintenance work o Of 150MWp DC capacity on turnkey basis along with five years of operation
Slide 36: Q3 & 9M FY23 - Highlights
Q3 & 9M FY23 - Highlights (Consolidated) Revenue (₹ in Lakhs) EBITDA & EBITDA Margin PAT & PAT Margin 9.54% 48.45% 0.49% 33.80% +63% +727% 11 times 7,388 3,580 2,498 4,535 433 22 Q3FY22 Q3FY23 Q3FY22 Q3FY23 Q3FY22 Q3FY23 Revenue (₹ in Lakhs) EBITDA & EBITDA Margin PAT & PAT Margin 12.97% 21.23% 2.47
Slide 37: Consolidated Income Statement – Q3FY23
Consolidated Income Statement – Q3FY23 Particulars (₹ in Lakhs) Q3FY23 Q3FY22 Y-o-Y Q2FY23 Q-o-Q 9MFY23 9MFY22 Y-o-Y Revenue from Operations 7,388.42 4,535.39 12,056.19 28,947.30 8,483.85 Total Revenue 7,388.42 4,535.39 62.91% 12,056.19 -38.72% 28,947.30 8,483.85 241.20% Cost of EPC Contracts 3,406.
Slide 38: Consolidated Annual Income Statement
Consolidated Annual Income Statement Particulars (₹ in Lakhs) FY20 FY21 FY22 Revenue From Operations 568 1,298 16,150 Total Revenue 568 1,298 16,150 Cost of EPC Contract 0 380 12,381 Cost of services 0 0 554 Total Raw Material 0 380 12,935 Value Addition 568 918 3,215 Value Addition (%) 100.0% 70.7%
Slide 39: Consolidated Balance Sheet
Consolidated Balance Sheet Equity & Liabilities (₹ in Lakhs) FY20 FY21 FY22 Assets (₹ in Lakhs) FY20 FY21 FY22 Equity Non ‐ Current Assets Equity Share Capital 2,081 2,081 2,081 Property, plant and equipment 2,978 15,226 7,088 Other Equity 514 146 909 Goodwill on Amalgamation 70 70 1 Equity attribut
Slide 40: Consolidated Cash Flow
Consolidated Cash Flow Particulars (₹ in Cr) FY20 FY21 FY22 Cash Flow from Operating Activities Profit before Tax -252 340 2,122 Adjustment for Non-Operating Items -420 -375 -346 Operating Profit before Working Capital Changes 168 715 2,468 Changes in Working Capital 4,954 -947 2,150 Cash Generated
Slide 41: CSR Activities & Awards won
WAAREE |RIL Execution with Pace & Comfort CSR Activities & Awards won
Slide 42: Sustainable Initiatives
Sustainable Initiatives Waaree Renewable Technologies has planned to create sustainable living through below channels like- o Supporting children by providing education facilities. o Protecting environment, health & safety through encouraging adaption of green energy. o Engaging communities in progr
Slide 43: Awards won in recent years
Awards won in recent years 2023 2022 2022 EPC Company of the Year Rising EPC Company of the Year Solar EPC Company of the Year by by by WAAREE RENEWABLE EQ SURYACON, TAMIL NADU EQ SURYACON, KERELA STATE LEADERSHIP AWARDS TECHNOLOGIES Waaree Renewable Technologies Limited 42
Slide 44: Thank You
THANK YOU Mr. Hitesh Mehta Executive Director & CFO [email protected] https://waareertl.com Investor Relations Advisors : Mr. Nikunj Jain Mr. Amar Yardi +91 9769060608 +91 7045121239 [email protected] [email protected] Orient Capital (a division of Link Group)
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