Tata Power Company Limited · NSE:TATAPOWER
Tata Power — The Tata Power Company — Q2 FY13 Earnings Presentation
35 slides from Tata Power's earnings presentation, Nov 6, 2012
Slide 1: Analyst Call 6 November 2012
Presentation Title (Company The Tata Power Arial, Font sizeLtd. 28 ) Analyst Date, Venue, etc Font– size ..( Arial,Call 6 November 18 ) 2012 …Message Box ( Arial, Font size 18 Bold)
Slide 2: Disclaimer
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 The Tata Power Company Limited‟s general business plans and strategy, its future outlook and growth prospects, and future d
Slide 3: Financial Performance – Standalone
Financial Performance – Standalone Comparison between Q2FY13 and Q2FY12* *This comparison (Q2FY13 vs. Q2FY12) is more relevant than comparison with Q1FY13 due to cyclical nature of the business …Message Box ( Arial, Font size 18 Bold)
Slide 4: Standalone Results: Q2FY13
Standalone Results: Q2FY13 Quarter ended Half year ended Year ended Particulars 30-Sep-12 30-Jun-12 30-Sep-11 30-Sep-12 30-Sep-11 31-Mar-12 (A) MUs MUs MUs MUs MUs MUs 1. Generation 4,272 4,259 3,772 8,531 7,661 15,230 2. Sales 4,235 4,227 3,793 8,462 7,725 15,240 (B) ` Crore ` Crore ` Crore ` Crore
Slide 5: Standalone Segmental Results: Q2FY13
Standalone Segmental Results: Q2FY13 ` Crore Quarter ended Half year ended Year ended Particulars 30-Sep-12 30-Jun-12 30-Sep-11 30-Sep-12 30-Sep-11 31-Mar-12 Segment Revenue Power Business 2,423.55 2,206.38 1,888.45 4,629.93 3,744.87 8,131.78 Others 96.25 77.72 59.60 173.97 124.42 364.06 Total Segme
Slide 6: Q2FY13 vs. Q2FY12 Financial Performance – Standalone
Q2FY13 vs. Q2FY12 Financial Performance – Standalone …Message Box ( Arial, Font size 18 Bold)
Slide 7: Q2 FY13 Highlights – Standalone
Q2 FY 13 Highlights – Standalone Gross generation at 4272 MUs as against 3772 MUs in PY up by 13% - Generation in Mumbai Operations was 2807 MUs as against 2615 MUs in PY up by 7% - Generation outside Mumbai Operations was 1466 MUs as against 1157 MUs in PY up by 27% - Higher in Jojobera due to high
Slide 8: Q2 FY13 Financial Highlights – Standalone
Q2 FY13 Financial Highlights – Standalone • Revenue at Rs. 2409.01 Cr (PY Rs. 1864.39 Cr) up by 29% • Revenue to be recovered in future tariff higher due to improved operational performance, higher capitalization in FY 12 and unrecovered FAC in Mumbai Operations • Higher fuel costs (Rs. 470 Cr) • Re
Slide 9: Q2 FY13 Financial Highlights – Standalone
Q2 FY13 Financial Highlights – Standalone • Cost of Fuel at Rs. 1492.01 Cr (PY Rs. 1022.03 Cr) higher by 46% • Rs. 312 Cr due to higher fuel prices, Rs. 258 Cr due to higher generation in Trombay, Jojobera and Belgaum offset Rs. 70 Cr due to change in fuel mix and better fuel efficiency of Rs. 29 Cr
Slide 10: Q2 FY13 Financial Highlights – Standalone
Q2 FY13 Financial Highlights – Standalone • Profit from Operations before Other Income, Finance costs and Exceptional Items at Rs. 372.29 Cr (PY Rs. 283.15 Cr) up by 31% • Other Income • Loss on Exchange at Rs. 9.28 Cr compared to loss on exchange of Rs. 52.81 Cr in PY. Details of Gain on Exchange f
Slide 11: Q2 FY13 Financial Highlights – Standalone
Q2 FY 13 Financial Highlights – Standalone • Profit Before Finance costs and Tax at Rs. 568.55 Cr (PY Rs. 615.43 Cr) down by 7% • Finance costs at Rs. 164.27 Cr (PY Rs. 115.89 Cr) up by 41% • Mainly due to higher capitalization, higher working capital in Mumbai Operations, increased FAC and tariff a
Slide 12: H1FY13 vs. H1FY12 Financial Performance – Standalone
H1FY13 vs. H1FY12 Financial Performance – Standalone …Message Box ( Arial, Font size 18 Bold)
Slide 13: H1FY13 Highlights – Standalone
H1FY 13 Highlights – Standalone Gross generation at 7969 MUs as against 7661 MUs in PY up by 4% - Generation in Mumbai LA was 5738 MUs as against 5422 MUs in PY up by 6% - Generation outside Mumbai LA was 2793 MUs as against 2239 MUs in PY - Mainly due to higher generation in Jojobera due to higher
Slide 14: H1FY13 Financial Highlights – Standalone
H1FY13 Financial Highlights – Standalone • Revenue at Rs. 4599.03 Cr (PY Rs. 3706.46 Cr) up by 24% • Revenue to be recovered in future tariff higher due to improved operational performance and higher capitalization in FY 12 (Rs. 412 Cr) • Higher fuel costs • Receipt of favourable ATE judgement (Rs.
Slide 15: H1 FY13 Financial Highlights – Standalone
H1 FY13 Financial Highlights – Standalone • Cost of Fuel at Rs. 2897.87 Cr (PY Rs. 2026.18 Cr) up by 43% • Rs. 656 Cr due to higher fuel prices, Rs. 316 Cr due to higher generation in Trombay, Jojobera and Belgaum offset by change in fuel mix (Rs. 57 Cr) and better fuel efficiency of Rs. 42 Cr • Cos
Slide 16: H1 FY13 Financial Highlights – Standalone
H1 FY13 Financial Highlights – Standalone • Profit from Operations before Other Income, Finance costs and Exceptional Items at Rs. 593.44 Cr (PY Rs. 594.45 Cr) • Other Income • Gain on Exchange at Rs. 43.95 Cr compared to loss on exchange of Rs. 65.23 Cr in PY. Details of Gain on Exchange for H1FY13
Slide 17: H1 FY13 Financial Highlights – Standalone
H1 FY 13 Financial Highlights – Standalone • Profit Before Finance costs and Tax at Rs. 1135.29 Cr (PY Rs. 1174.31 Cr) down by 3% • Finance costs at Rs. 302.87 Cr (PY Rs. 245.25 Cr) up by 23% • Mainly due to higher capitalization and higher working capital in Mumbai Operations due to increased FAC a
Slide 18: Financial Performance – Consolidated
Financial Performance – Consolidated …Message Box ( Arial, Font size 18 Bold)
Slide 19: Q2FY13 Financial Results (Consolidated)
Q2FY 13 Financial Results (Consolidated) Quarter ended Half year ended Year ended Particulars 30-Sep-12 30-Jun-12 30-Sep-11 30-Sep-12 30-Sep-11 31-Mar-12 (Reviewed) (Reviewed) (Audited) ` Crore ` Crore ` Crore ` Crore ` Crore ` Crore 1. Income from operations a) Revenue 7,398.66 6,714.12 5,326.82 14
Slide 20: Q2 FY13 vs. Q2 FY12 Financial Performance – Consolidated
Q2 FY 13 vs. Q2 FY12 Financial Performance – Consolidated …Message Box ( Arial, Font size 18 Bold)
Slide 21: Q2 FY13 Financial Highlights – Consolidated
Q2 FY 13 Financial Highlights – Consolidated • Total Income at Rs. 7699.77 Cr (PY Rs. 6282.26 Cr) up by 22% • Higher in Tata Power by Rs. 571 Cr as explained earlier • Higher in TPTCL by Rs. 500 Cr mainly due to higher volume traded and higher price per unit • Higher in Maithon by Rs. 408 Cr since U
Slide 22: Q2 FY13 Financial Highlights – Consolidated
Q2 FY 13 Financial Highlights – Consolidated • Key reasons for variation in the Total Expenditure are as follows: • Employee Benefits expense up by Rs. 43 Cr mainly due to rupee depreciation in Coal companies ( Rs. 15 Cr) and other increments (Rs. 25 Cr) • Cost of Power Purchased higher by Rs. 116 C
Slide 23: Q2 FY13 Financial Highlights – Consolidated
Q2 FY 13 Financial Highlights – Consolidated • Other Income • Loss on exchange of Rs. 31.63 Cr (PY Loss on exchange Rs. 736.85 Cr) up by 96% mainly since in PY forex loss on realignment of borrowings capitalised in CGPL book but charged off in P&L (Rs. 650 Cr) and higher gain on exchange in Tata Pow
Slide 24: H1 FY13 vs. H1 FY12 Financial Performance – Consolidated
H1 FY 13 vs. H1 FY12 Financial Performance – Consolidated …Message Box ( Arial, Font size 18 Bold)
Slide 25: H1 FY13 Financial Highlights – Consolidated
H1 FY 13 Financial Highlights – Consolidated • Total Income at Rs. 14953.66 Cr (PY Rs. 12106.77 Cr) up by 23% • Higher in Tata Power by Rs. 936 Cr as explained earlier • Higher in CGPL due to commissioning of Unit#1 in Q4FY12 and Unit#2 in July 2012 (Rs. 648 Cr) • Higher in Maithon by Rs. 601 Cr sin
Slide 26: H1 FY13 Financial Highlights – Consolidated
H1 FY 13 Financial Highlights – Consolidated • Key reasons for variation in the Total Expenditure are as follows: • Employee Benefits expense up by Rs. 109 Cr mainly due to rupee depreciation and increase in retiral provisions in Coal companies ( Rs. 60 Cr) and Rs. 15 Cr in Tata Power Standalone as
Slide 27: H1 FY13 Financial Highlights – Consolidated
H1 FY 13 Financial Highlights – Consolidated • Other Income • Loss on exchange of Rs. 76.86 Cr (PY Loss on exchange Rs. 647.01 Cr) mainly since in PY forex loss on realignment of borrowings capitalised in CGPL book but charged off in P&L (Rs. 650 Cr) and forex loss in KPC and Arutmin due to VAT real
Slide 28: Segment wise Financial Performance – Consolidated
Segment wise Financial Performance – Consolidated …Message Box ( Arial, Font size 18 Bold)
Slide 29: Segment Results (Consolidated): Q2FY13
Segment Results (Consolidated): Q2FY13 ` Crore Quarter ended Half year ended Year ended Particulars 30-Sep-12 30-Jun-12 30-Sep-11 30-Sep-12 30-Sep-11 31-Mar-12 Segment Revenue Power Business 5,488.54 4,824.01 3,934.43 10,312.55 7,654.73 16,169.59 Coal Business 2,056.77 2,265.04 2,167.29 4,321.81 4,1
Slide 30: Segment Highlights (Consolidated): Q2FY13
Segment Highlights (Consolidated): Q2FY13 • Revenue from Power Business at Rs. 5488.54 Cr (PY Rs. 3934.43 Cr) up by 40% • Higher in Tata Power Standalone by Rs. 535 Cr as explained earlier • Higher in TPTCL by Rs. 500 Cr due to higher average rate of power sold and higher volume • Higher in Maithon
Slide 31: Segment Highlights (Consolidated): H1FY13
Segment Highlights (Consolidated): H1FY13 • Revenue from Power Business at Rs. 10312.55 Cr (PY Rs. 7654.73 Cr) up by 34% • Higher in Tata Power Standalone by Rs. 887 Cr as explained earlier • Higher in CGPL by Rs. 648 Cr due to commissioning of Unit#1 and Unit#2 • Higher in Maithon by Rs. 601 Cr due
Slide 32: Subsidiary Performance
Subsidiary Performance …Message Box ( Arial, Font size 18 Bold)
Slide 33: Key Subsidiary Performance: Q2 FY13
Key Subsidiary Performance: Q2 FY 13 Key Subsidiaries Op. Income Op. Profit PBT PAT % change Q2FY 13 Q2FY 12 Q2FY 13 Q2FY 12 Q2FY 13 Q2FY 12 Q2FY 13 Q2FY 12 in PAT TPDDL 1537.5 1767.4 216.4 222.0 53.6 109.8 41.4 86.2 -52% Powerlinks 61.8 72.3 58.8 68.9 27.9 36.9 28.1 29.5 -5% Industrial Energy 131.4
Slide 34: Key Subsidiary Performance: H1 FY13
Key Subsidiary Performance: H1 FY 13 Key Subsidiaries Op. Income Op. Profit PBT PAT % change H1FY 13 H1FY 12 H1FY 13 H1FY 12 H1FY 13 H1FY 12 H1FY 13 H1FY 12 in PAT TPDDL 2967.1 3001.2 465.2 514.7 147.9 296.4 115.3 234.4 -51% Powerlinks 129.8 141.9 123.4 135.2 60.7 68.9 54.3 55.1 -1% Industrial Energ
Slide 35: Thank you
Thank you …Message Box ( Arial, Font size 18 Bold)
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