Adani Energy Solutions Ltd · NSE:ADANIENSOL
Adani Energy Solutions — Non-Deal Roadshow (May 2024)
13 slides from Adani Energy Solutions's roadshow presentation, May 2024
Slide 1: Adani Energy Solutions Limited Investor Presentation
Adani Energy Solutions Limited (Formerly known as Adani Transmission Limited) Investor Presentation April – May 2024
Slide 2: Legal Disclaimer
Legal Disclaimer This document has been provided by the Cantor Fitzgerald Europe (“CFE”) Corporate Finance department solely for information purposes and is confidential. It is intended for use by the recipient only. The information contained in this document is compiled from a number of sources, in
Slide 3: Adani Energy Solutions Limited ("AESL")
Adani Energy Solutions Limited (“AESL”) ► Largest private sector transmission and distribution company in India, with a Segmental EBITDA (US$m) AESL Shareholding Structure presence across 17 states in India Public Float, 20% ► Cumulative transmission network of c.20,509 ckm / c.57,011 MVA transmissi
Slide 4: Key Investment Highlights
Key Investment Highlights 1 Strong Underlying Market Fundamentals ► Huge T&D capacity additions necessary to connect additional generating capacity and balance increased renewables penetration, as kWh / capita of planet’s most populous nation tracks higher 7 Experienced Management Team ► Management
Slide 5: Macro Background: Strong Underlying Fundamentals Driving Demand for T&D Infrastructure
1 Macro Background: Strong Underlying Fundamentals Driving Demand for T&D Infrastructure Huge Growth in Power Demand Renewables Accelerating Requirements Increasing Private Sector Participation Generation p.a. (TWh) Installed Renewables Capacity (GW) TBCB Transmission Project Awards, as of 2020 (%)
Slide 6: Macro Background: AESL Already Captured 20% Share in Smart Metering Rollout
1 Macro Background: AESL Already Captured 20% Share in US$ 26 bn Smart Metering Rollout Development stage of national Smart Meter Tenders (no.) 250 ► Huge rollout targeted as a part of RDSS (Revamped million smart meters Distribution Sector Scheme) to improve billing efficiency and sector collection
Slide 7: Regulatory Backdrop: Mature Framework with >20 years of Demonstrated Stability
2 Regulatory Backdrop: Mature Framework with >20 years of Demonstrated Stability Regime is governed underpinned by statute, with regulated return that has remained stable for over two decades Allowed Equity Return by The Central Electricity Regulatory Commission (CERC) and The Maharashtra Electricit
Slide 8: India's Largest Private Sector Power Transmission & Distribution Company
3 India’s Largest Private Sector Power Transmission & Distribution Company Portfolio Transmission Line Length, Private Sector (‘000 ckms) 20.50 15.15 #1 Largest market share in the private transmission sector in India 3.53 2.17 0.35 >32 16 ~20,509 ~57,011 17 ckt km MVA years years States(1) Transmis
Slide 9: Platform Positioned for Continued Growth
4 Platform Positioned for Continued Growth Huge National Buildout in T&D Capacity In-House, End-to-End Capabilities Demonstrated Ability to Capture Growth Transmission Bidding Stage Project Development EBITDA (US$m)(2) Planned India Transmission Capacity 2,093 732 1,618 Project Execution Project Clo
Slide 10: Operational Excellence Driving Outperformance
5 Operational Excellence Driving Outperformance Availability-based payments translates operational excellence into maximum visibility on revenue visibility Operations routinely exceed required revenue and incentive benchmarks on a runrate basis Availability Performance vs Benchmarks, by Regulator (%
Slide 11: Robust Investment Grade-Rated Capital Structure
6 Robust Investment Grade-Rated Capital Structure Simplified Security Structure International – ATSOL Obligor Group (Transmission business) (Reg S/ 144A) Rating Agency Facility Rating/Outlook Fitch Dollar Bond BBB-/Stable Moody’s Dollar Bond Baa3/Stable International – AESL USPP (Transmission busine
Slide 12: Experienced Management Team, Sponsored by India's #1 Infra Promoter
7 Experienced Management Team, Sponsored by India’s #1 Infra Promoter Strong Sponsorship Managing Director Independent Directors National Footprint with Deep Coverage FY23 EBITDA (USDm)(2) 1,203 1,540 760 109 Mr. Gautam S. Mr. Rajesh S. Mr. Anil Sardana Mr. K. Jairaj Dr. Ravindra H. Mrs. Meera Ms. L
Slide 13: AESL: Benchmarking
AESL: Benchmarking AESL demonstrates relative growth outperformance and higher risk-adjusted returns compared to its peers Pure Play T&D Peers Integrated Utilities Peer Group Geography India UK Italy Spain Portugal Austria USA Growth Opportunity(1) 2021 onwards: nominal RAB on pre-tax, real Regulate
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