Adani Power Limited · NSE:ADANIPOWER
Adani Power — Investor Presentation (April 2025)
44 slides from Adani Power's investor presentation, Apr 30, 2025
Slide 1: Adani Power exchange filing cover letter
adani Power April 30, 2025 BSE Limited National Stock Exchange of India Limited Floor 25, P J Towers, Exchange Plaza, Dalal Street, Bandra Kurla Complex, Mumbai – 400 001 Bandra (E), Mumbai – 400 051 Scrip Code: 533096 Scrip Code: ADANIPOWER Dear Sirs, Sub.: Investor presentation of Adani Power Limi
Slide 2: Adani Power Limited Investor Presentation April 2025
Growth adani With Goodness Adani Power Limited Investor Presentation | April 2025
Slide 3: Disclaimer
Disclaimer adani Power 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”), the future outlook and growth prospects, an
Slide 4: Contents
adani Power Contents A Adani Portfolio Overview B Executive Summary : Adani Power Limited (“APL”) 1 Base load power demand to drive growth 2 High Quality Existing Asset Portfolio 3 Deep Project Execution Expertise with an Attractive Portfolio of Locked In Assets 4 Self Funded Growth: Conservative Le
Slide 5: Adani Portfolio Overview
A Adani Portfolio Overview STRICTLY CONFIDENTIAL
Slide 6: Adani Portfolio: A World class Infrastructure & Utility portfolio
Adani Portfolio: A World class Infrastructure & Utility portfolio adani adani Flagship << Infrastructure & Utility Core Portfolio >> Primary Industry Emerging B2C Materials, Metal Direct to Incubator Energy & Utility Transport & Logistics & Mining consumer (100%) (100%) (73.97%) (100%) (50.00%) (100
Slide 7: Adani Portfolio: Decades long track record of industry best growth
Adani Portfolio: Decades long track record of industry best growth with national footprint adani Secular growth with world leading efficiency National footprint with deep coverage adani adani Growth 3x 6 Growth 3x 6 .............................................. •····•·······························
Slide 8: Adani Portfolio: Repeatable, robust & proven transformative model
Adani Portfolio: Repeatable, robust & proven transformative model of investment adani DEVELOPMENT1 OPERATIONS CONSUMERS 2 New C.E.O. Adani Infra (India) Limited (AIIL) | ITD Cementation Ltd. | PSP Projects Ltd. Operations (AIMSL) Consumer I Employees I Other Stakeholders Origination Site Development
Slide 9: Executive Summary
Executive Summary B Adani Power Limited (“APL”) STRICTLY CONFIDENTIAL
Slide 10: Adani Power Limited: Overview
Adani Power Limited (“APL”): Overview adani Power Shareholding Summary Adani Power’s Asset Portfolio Key Operating Metrics As on 31 March 2025 17,550 MW 13,120 MW 12 Assets 9 Assets Kawai Mirzapur 1320 MW + 1600 1600 MW Operating Capacity Upcoming Capacity MW Mirzapur Thermal Energh (UP) Pvt. Ltd. (
Slide 11: High Quality Present Portfolio Mix
High Quality Present Portfolio Mix: Poised to meet India’s base load demand adani Power adani I Power Operating Capacity Locked-in Capacity Target Capacity 121,2 17,550 + 9 13,120 = 21 30,670 Assets MW Assets MW Assets MW Asset Type Asset Type 5% Asset Type 62% 38% 95% 76% 24% ■ Organic ■ Inorganic
Slide 12: Indian Power Sector: Growing power demand will require greater base load
Indian Power Sector: Growing power demand will require greater base load and peaking capacity adani Power Power Demand Growth Projections 500 3,000 450 Base Load power critical for additional Renewable Capacity 2,474 2,500 400 350 India’s Renewable Energy Target by 2030 500 GW 2,000 300 1,626 250 1,
Slide 13: Key Investment Highlights
APL: Key Investment Highlights adani Power Self Funded Growth: Conservative Leverage Base load power demand to drive growth supports high cashflow generation • 25%+ EBITDA CAGR with remunerative PPAs • Base load supply critical for meeting growing peak demand • Market-linked upside captured through
Slide 14: Base Load Power Demand to drive Growth
Base Load Power Demand to drive Growth 1 Indian Power Sector STRICTLY CONFIDENTIAL
Slide 15: India: Thermal power to continue providing bulk of power needs
India: Thermal power to continue providing bulk of India’s power needs adani Power Economic growth driving power demand 1,695 BU 2,474 BU 46% India Power India Power Demand growth Power Demand (Billion units) Demand Demand over 7 years FY 2024-25 FY 2031-32 2,474 1,908 1,511 470 GW 962 GW(1) 105% 1,
Slide 16: India: Peak demand growth will drive thermal power requirement
India: Peak demand growth will drive thermal power requirement adani Power 249 GW 388 GW 56% Coal-based capacity to 245 GW 309 GW 80 GW bridge the peak demand India Peak India Peak Peak Demand India Thermal India Thermal Required Addition Demand Demand growth over 7 gap with readily available Power
Slide 17: Long term power supply tie-ups and merchant upside
APL: Long term power supply tie-ups and merchant upside adani Power APL’s capacity tie-ups New PPA model offering revenue security • New PPA model incorporates equitable distribution of risks between developer and 2,920 MW 1,600 MW offtaker PPAs signed • Fuel cost and availability risks addressed ef
Slide 18: High Quality Existing Asset Portfolio
High Quality Existing Asset Portfolio 2 17.55 GW of operating assets STRICTLY CONFIDENTIAL
Slide 19: Modern and efficient fleet of thermal generation assets
• APL: Modern and efficient fleet of strategically located thermal generation assets adan1 Power Rapid rise installed capacity through organic & inorganic growth 10,840 MW of Capably Executed Organic Generation Capacity 6,670 MW 17,550(1) MW Mundra Tiroda Kawai Godda (3) Gujarat Maharashtra Rajastha
Slide 20: 6,670 MW of Inorganic Generation Capacity
APL: Modern and efficient fleet of strategically located thermal generation assets adani Power 6,670 MW of Inorganic Generation Capacity 4,370 MW of Rapidly Turned Around Inorganic Generation Capacity 2,300 MW of Recent Inorganic Capacity Additions Udupi Raipur Raigarh Mahan Korba Mutiara (1) Dahanu
Slide 21: Predictable and reliable operating performance
APL: Predictable and reliable operating performance adani Power Average Operational Capacity (MW) Plant Availability (%) 16,545 15,051 95% 95% 94% 92% 91% 90% 13,650 11,810 12,450 12,450 FY20 FY21 FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24 FY25 PLF (%) Sales (BU) 96 71% 79 67% 65% 59% 64 52% 48% 5
Slide 22: Operational excellence through Energy Network Operation Center
APL: Operational excellence through Energy Network Operation Center (ENOC) adani Power Energy Network Operation Center (ENOC) Adani Infrastructure Management Services Limited (AIMSL) − Remote monitoring, diagnosis, and troubleshooting Centralized Management − Centralized power scheduling for optimum
Slide 23: Fuel management & logistics – Key competitive advantage
• APL: Fuel management & logistics – Key competitive advantage adan1 Power Fuel management is key to revenue stability Plant and Mine Locations ~ > Only IPP in India with in-house, mine-to-plant logistics ~ 01 ~ --_-_-___-_--_---> ~ capability .L 02 Handling approx. 74 MMTPA coal, 22 MMTPA Fly Ash –
Slide 24: Competitive and profitable assets in long-term and short-term markets
APL: Competitive and profitable assets in long-term and short-term markets adani Power Long-term PPAs: Priority in despatch with profitable contracts Strong and sustained pickup in Merchant and Bilateral markets -- Merit Order Position during Q4 FY 2024-25 Merchant and Bilateral market volumes and t
Slide 25: Established capability in rapid turnaround of acquired assets
APL: Established capability in rapid turnaround of acquired assets adani Power Mahan Energen Ltd. Raipur plant Raigarh plant 1,200 MW ₹549 Cr. 600 MW ₹(-) 97 Cr. 1,370 MW ₹210 Cr. Acquired in EBITDA FY Acquired in EBITDA FY Acquired in EBITDA FY March ‘22 ‘22 Jul ‘19 ‘20 Aug ‘19 ‘20 ₹2,500 Cr. ₹1,89
Slide 26: Recent Acquisitions Snapshot
APL: Recent Acquisitions Snapshot adani Power Mutiara plant (Erstwhile Coastal Energen Pvt. Ltd.) Consistent demonstration of turnaround capability • Acquired Mutiara (Thoothukudi) and Korba plants at attractive valuations 1,200 MW ₹ 3,336 Crore as part of Corporate Insolvency Resolution Process und
Slide 27: Deep Project Execution Experience
Deep Project Execution Experience 3 with an attractive Portfolio of Locked In Assets STRICTLY CONFIDENTIAL
Slide 28: Deep Project Execution Expertise: 10,840 MW capacity delivered
Deep Project Execution Expertise: Built over the past two decades – 10,840 MW capacity delivered adani Power One of India’s largest single location thermal power plants First Supercritical power plant : Mundra, Gujarat Cumulative Capacity: 4,620 MW (330 MW x 4 units + 660 MW x 5 units) − Best in cla
Slide 29: Execution Risk Mitigation – what we are doing differently
APL: Execution Risk Mitigation – what we are doing differently adani Power Execution Assurance Fuel Assurance Finance Assurance Brownfield development model: Availability Risk: High visibility of cash flows: • Ready availability of land, water, project power, • Linkages earmarked by DISCOM for each
Slide 30: Project Management & Assurance Group (PMAG)
APL: Project Management & Assurance Group (PMAG) – End to End project integration adani Power ► ► ► ► t ► Bidding, Site Scouting Project Development & Basic Engineering Execution Operations Concept t Integrated Project Management by Adani Infra (India) Limited (AIIL) Commissioning Strength: Team of
Slide 31: Project Gallery
Project Gallery: Project execution expertise being demonstrated capably across large & complex projects adani Power Mahan Phase-II Project (2 x 800 MW) Raipur Phase-II Project (2 x 800 MW) Raigarh Phase-II Project (2 x 800 MW) BTG Area Aerial View Unit #3 - Turbine Generator Deck Unit #3 – Electrost
Slide 32: Attractive Portfolio of Locked In Assets
Attractive Portfolio of Locked In Assets : Derisked execution with competitive advantages adani Power Strategic Advantages Locked-in Organic Growth projects in advanced stages of development Environ- Equipment 86% 100% 100% Project MW Land mental PPA 87% Ordering Clearance Brownfield Land available
Slide 33: Self-funded growth
Self-funded growth 4 Conservative Leverage supports high cashflow generation STRICTLY CONFIDENTIAL
Slide 34: Self Funded Growth: Conservative Leverage supports high cashflow
Self Funded Growth: Conservative Leverage supports high cashflow generation adani Power Key Rating highlights: Rating April 2019 March 2023 March 2025 • Significant cash inflow of long due Agency regulatory receivables due to favorable Rating Track resolution of regulatory issues Record CareEdge RAT
Slide 35: Consistent improvement in EBITDA delivering free cashflow
APL: Consistent improvement in EBITDA delivering free cashflow for growth adani Power Reported Total Revenues (₹ Crore) Credit Profile +16% CAGR , ......... 1............ . . 60,281 58,906 Entities Rating Agency INR Ratings 43,041 CRISIL, ICRA, 31,686 APL AA/Stable 27,842 28,150 India Ratings, CARE
Slide 36: Strong cashflow generation enables fully funded growth
APL: Strong cashflow generation enables fully funded growth over the next 6 years adani Power FFO for Mar’25 Ability to fund ₹ 112k crores Debt Maturity Profile capex over next 6 years - 24,008 20,499 (3,501) (8) FFO + Cash Balances – 27,847 • FY25 Fund flow from operations (FFO) @ ₹ 20.5k crores •
Slide 37: ESG Practice
ESG Practice 5 Adani Power Limited (“APL”) STRICTLY CONFIDENTIAL
Slide 38: ESG Highlights
APL: ESG Highlights adani Power Material Topic Climate Change Targets Key ESG Initiatives/Achievements Climate Change Adaptation and mitigation • Average Emission intensity - 0.85 tCO2e/MWh. . • UN SDGs ,. . I , Adaptation Reduction in GHG emission Water Management and Mitigation m■ e· n • Water Int
Slide 39: Board of Directors and Management overview
APL: Board of Directors and Management overview adani Power 100% Chaired Chaired IDs By IDs By NID Board of Directors Statutory Committees 40% Independent Directors - Audit 🗹 Comprised of only Independent Directors - Nomination & Remunerations 🗹 - Stakeholder Relationship 🗹 100% of Statutory…
Slide 40: Conclusion
Conclusion 6 Adani Power Limited (“APL”) STRICTLY CONFIDENTIAL
Slide 41: Conclusion
APL: Conclusion adani Power Strong Financials Strong Credit Profile Strong Asset Fundamentals FY25 Continuing EBITDA ₹ 21,575 Crores AA/Stable rating from four rating agencies Acquisition and integration of stressed assets to Predictable and reliable operating performance benchmark operations Benchm
Slide 42: Thank You
adani Thank You V20- credit metrices threshold change after Robbie sir’s comment
Slide 43: Annexures
Annexures STRICTLY CONFIDENTIAL
Slide 44: Historical Financial Performance
APL: Historical Financial Performance adani Power Key Financials (₹ Cr) Key highlights Income Statement FY22A FY23A FY24A FY25A Key business update: FY25 Revenue 31,686 43,041 60,281 58,906 • Consolidated O&M Availability was 91% during FY25. EBITDA 13,789 14,312 28,111 24,008 • Consolidated PLF 71%