Torrent Power Limited · NSE:TORNTPOWER
Torrent Power — Q4 2014-15 Earnings Presentation
32 slides from Torrent Power's earnings presentation, May 12, 2015
Slide 1: Torrent Power Limited Investor Presentation Q4 2014-15
TORRENT POWER LIMITED I N V E S T O R P R E S E N TAT I O N - Q4 2014-15
Slide 2: Disclaimer
DISCLAIMER This information may contain certain forward-looking statements/details in the current scenario, which is extremely dynamic and increasingly fraught with risks and uncertainties. Actual results, performances, achievements or sequence of events may be materially different from the views ex
Slide 3: Glossary
GLOSSARY AMGEN 422 MW Coal based Power Plant Liquefied Natural Gas / Regasified LNG/RLNG Liquefied Natural Gas AT&C loss Aggregate Technical and Commercial loss Long Term Supply Contract / Long Term LTSC/LTMC CDM Clean Development Mechanism Maintenance Contract CERC Central Electricity Regulatory Co
Slide 4: Outline
OUTLINE Core Values Corporate Strategy Torrent Group - Snapshot Torrent Power Limited Performance Highlights 5 Year Key Highlights Gas Scenario Composite Scheme of Amalgamation 12 May 2015
Slide 5: Core Values
CORE VALUES INTEGRITY - When truth is paramount PASSION FOR EXCELLENCE - When best is not enough PARTICIPATIVE DECISION MAKING - Involvement that engenders effectiveness CONCERN FOR SOCIETY & ENVIRONMENT - When every smile matters FAIRNESS WITH CARE - Harnessing equality TRANSPARENCY - Openness that
Slide 6: Corporate Strategy
CORPORATE STRATEGY Providing end-to-end solutions in order to better serve the end user is the mark of a company dedicated towards its customers. Torrent Power, through its seamless integration of services, continually strives to light up the lives of people, in the truest sense of the word. F
Slide 7: Torrent Group - Snapshot
TORRENT GROUP - SNAPSHOT Torrent Group Pharma Business Power Business Torrent Pharma Limited Torrent Power Limited Promoter’s Holding as Promoter’s Holding as on 31.03.15 : 71.25% on 31.03.15 : 53.44% Net Worth as on Net Worth as on 30.09.14 Rs. 2,377 Cr. 31.03.15 Rs. 6,556 Cr. Market Cap
Slide 8: Torrent Power Limited Snapshot
TORRENT POWER LIMITED SNAPSHOT Torrent Power, the Rs. 10,762 Cr. integrated power utility of the Torrent Group, is one of the largest private sector players in India having interests in power generation, transmission and distribution. Power • 3253 MW capacity with a mix of coal, gas Mega Power Pla
Slide 9: Structure
TORRENT POWER LIMITED STRUCTURE Shareholding Pattern as on Subsidiaries of Torrent Power Limited: Torrent Energy Limited – 31.03.2015 implemented the 1200 MW Others Combined Cycle Gas based FIIs 13% power project (DGEN) 4% distributing power at Dahej SEZ Mutual Funds in Bharuch district of Guj
Slide 10: Generation
TORRENT POWER LIMITED GENERATION Torrent Power, along with its subsidiaries, has a portfolio of coal based, gas based and renewable power plants with an aggregate generation capacity of 3253 MW comprising: 1530 MW Gas based SUGEN Mega Power Plant near Surat 1200 MW Gas based DGEN Mega Power Plan
Slide 11: 1530 MW Gas based SUGEN Mega Power Plant
TORRENT POWER LIMITED GENERATION 1530 MW Gas based SUGEN Mega Power Plant Commissioning Three units commissioned in 2009, fourth unit in 2013 Location Near Surat in South Gujarat. Close to all required infrastructure, fuel supply sources and power off-take markets. Technology A combined cycle gas ba
Slide 12: 1200 MW Gas based DGEN Mega Power Plant
TORRENT POWER LIMITED GENERATION 1200 MW Gas based DGEN Mega Power Plant Implemented by Torrent Energy Limited, the wholly owned subsidiary of Torrent Power Limited Commissioning November, 2014 Location At Dahej SEZ near Bharuch in South Gujarat. Close proximity to the industrial towns of Bhar
Slide 13: 422 MW Coal based AMGEN Power Plant
TORRENT POWER LIMITED GENERATION 422 MW Coal based AMGEN Power Plant Commissioning C station – 1961, D station – 1978, E station – 1984, F station – 1988 Location Ahmedabad Technology Currently consists of four stations running on domestic as well as imported coal C station - 60 MW, D station – 12
Slide 14: 49.6 MW Wind Power plant
TORRENT POWER LIMITED GENERATION 49.6 MW Wind Power plant Commissioning 2012 Location Spread across three talukas - Lalpur, Jamjodhpur and Bhanvad at a distance of 40 km from Jamnagar in the state of Gujarat. Technology Consists of 62 Nos. 800 kW gearless wind turbines with synchronous generator Pow
Slide 15: 51 MW Solar Power Project
TORRENT POWER LIMITED GENERATION 51 MW Solar Power Project Implemented by Torrent Solargen Limited (formerly known as Torrent Power Bhiwandi Ltd.), the wholly owned subsidiary of Torrent Power Limited Commissioning March, 2015 Location At Charanka Solar Park, Patan district in the state of Gujarat T
Slide 16: Transmission
TORRENT POWER LIMITED TRANSMISSION Transmission System from Generation to Various Off takers / Grid SUGEN to 400 kV transmission system with length of 249 km implemented Ahmedabad through Torrent Power Grid Limited, a Joint venture with PGCIL in Distribution Area which Torrent has 74% stake. SUGEN t
Slide 17: Distribution Licensee
TORRENT POWER LIMITED DISTRIBUTION Distribution Licensee Area Ahmedabad and Surat admeasuring an area of total 408 sq. km. Peak Demand At Ahmedabad 1567 MW and at Surat 624 MW during FY 14-15 Sale of Units 9,759 MUs of power during FY 14-15 No. of Consumers 2.33 million consumers as on 31st March, 2
Slide 18: Distribution Franchisee
TORRENT POWER LIMITED DISTRIBUTION Distribution Franchisee Commencement of Bhiwandi Circle of MSEDCL from 26th Jan, 2007 Operations Agra Circle of DVVNL from 1st Apr, 2010 Area Bhiwandi, Agra admeasuring an area of total 942 sq. km. Peak Demand At Bhiwandi 651 MVA and at Agra 453 MVA during FY 14-15
Slide 19: Performance Highlights - Income Statement
TORRENT POWER LIMITED PERFORMANCE HIGHLIGHTS FY 2014-15 FY 2013-14 Income Statement – Consolidated (Rs. Cr.) Q4 2014-15 Q4 2013-14 (Audited) (Audited) Income from Operations 2616 2204 10423 8681 Fuel & Power Purchase Cost 1595 1500 7194 6306 Staff cost and other exp. 306 254 1122 1092 Depreciation a
Slide 20: Performance Highlights - Reasons for Variation
TORRENT POWER LIMITED PERFORMANCE HIGHLIGHTS The following are major reasons for variation in FY 2014-15 results as compared to FY 2013-14 results: Tariff orders of Regulatory Commission enabling recovery of costs which are more aligned to actual costs in FY 2014-15 than in FY 2013-14, though not
Slide 21: Performance Highlights - Balance Sheet
TORRENT POWER LIMITED PERFORMANCE HIGHLIGHTS As on 31.03.2015 As on 31.03.2014 Balance Sheet - Consolidated (Audited) (Audited) Shareholders’ Funds 6556 6205 Minority Interest 31 30 Non-current liabilities 10272 10609 Current Liabilities 2774 2282 Total Liabilities 19633 19126 Non-current Assets 154
Slide 22: Performance Highlights - Plant Availability and Load
TORRENT POWER LIMITED PERFORMANCE HIGHLIGHTS SUGEN Unit 10-30 SUGEN Unit 40 97.71% 98.37% 98.89% 98.12% 99.99% 99.99% 90.30% 64.62% 24.52% 25.78% 22.87% 25.70% 0.00% 0.00% 0.00% 0.00% Q4 2013-14 Q4 2014-15 FY 2013-14 FY 2014-15 Q4 2013-14 Q4 2014-15 FY 2013-14 FY 2014-15 PAF PLF PAF PLF AMGEN Genera
Slide 23: Performance Highlights - Consumers and Losses
TORRENT POWER LIMITED PERFORMANCE HIGHLIGHTS No. of Consumers (in lacs) No. of Consumers (in lacs) 17.07 17.49 3.36 3.56 2.58 2.70 5.69 5.79 As on 31.03.2014 As on 31.03.2015 As on 31.03.2014 As on 31.03.2015 A'bad Surat Bhiwandi Agra T&D loss (%) AT&C loss (%) 47.46% 8.31% 43.47% 7.95% 35.69% 35.90
Slide 24: 5 Year Key Highlights - Operations
TORRENT POWER LIMITED 5 YEAR KEY HIGHLIGHTS SUGEN PAF-PLF (%) AMGEN PAF-PLF (%) 95.32% 94.32% 98.89% 98.12% 89.29% 92.98% 95.38% 90.05% 87.13% 81.69% 82.77% 75.99% 82.53% 77.80% 81.22% 80.69% 74.90% 41.21% 22.87% 25.70% 2010-11 2011-12 2012-13 2013-14 2014-15 2010-11* 2011-12* 2012-13 2013-14 2014-1
Slide 25: 5 Year Key Highlights - Financials
TORRENT POWER LIMITED 5 YEAR KEY HIGHLIGHTS Revenue from Operations PBT (Rs. Crore) (Rs. Crore) 1698 10423 1423 7954 8221 8681 6818 740 630 275 2010-11 2011-12 2012-13 2013-14 2014-15 2010-11 2011-12 2012-13 2013-14 2014-15 EBIDTA* (Rs. Crore) PAT (Rs. Crore) 2418 2423 1253 2170 1055 1494 1534 387 3
Slide 26: 5 Year Key Highlights - Net Worth and Debt:Equity
TORRENT POWER LIMITED 5 YEAR KEY HIGHLIGHTS Net Worth (Rs. Crore) Debt:Equity Ratio (Consolidated) 7,500 1.50 1.37 6,103 6,205 6,556 1.21 1.26 5,761 4,779 0.87 5,000 1.00 0.69 2,500 0.50 - 0.00 2010-11 2011-12 2012-13 2013-14 2014-15 2010-11 2011-12 2012-13 2013-14 2014-15 Earning Per Share (Rs.) 30
Slide 27: Gas Scenario - New Domestic Gas Price
TORRENT POWER LIMITED GAS SCENARIO New Domestic Gas Price The Government on 18th Oct, 2014 announced the revised domestic natural gas pricing effective 1st Nov ,2014. o Price of $5.61/mmbtu on NHV basis, an increase of 33%, was made effective from 1st Nov 2014. o The price of $5.61/MMBTU was deter
Slide 28: Gas Scenario - E-bid RLNG
TORRENT POWER LIMITED GAS SCENARIO E-bid RLNG Government of India (GOI), on 27th March 2015, has published “Scheme for utilisation of Gas based power generation capacity” for plants receiving domestic gas and for stranded gas based power plants; which scheme is to be supported by GOI’s Power syste
Slide 29: Gas Scenario - E-bid RLNG continued
TORRENT POWER LIMITED GAS SCENARIO E-bid RLNG cont... To achieve the target purchase price, the scheme envisages following interventions by the Central / State Govt. & other stakeholders: o Waiver of customs duty o Waiver of VAT/CST, Octroi, Entry tax o Waiver of service tax on regasification and
Slide 30: Composite Scheme of Amalgamation
TORRENT POWER LIMITED COMPOSITE SCHEME OF AMALGAMATION Background The Board of Torrent Power Limited (the Company) in its meeting on 29th October, 2013 had accorded its approval to carry out a Study and thereby evolve a suitable and optimum business model along with desirable capital structure for
Slide 31: Composite Scheme of Amalgamation - Current Status
TORRENT POWER LIMITED COMPOSITE SCHEME OF AMALGAMATION • Since TEL is a wholly owned subsidiary of the Company, the investment of the Company in TEL shall stand cancelled. The Scheme is conditional upon, inter alia, various regulatory and other necessary approvals and sanctions from the lenders on
Slide 32: Thank You
THANK YOU w w w . t o r r e n t p o w e r. c o m Contact details: Torrent Power Limited CIN: L31200GJ2004PLC044068 Torrent House, Off Ashram Road, Ahmedabad – 380 009 Ph. No. (079) 2658 5090, 2658 3060 Fax No. (079) 2658 2326 Email: [email protected]