Tata Power Company Limited · NSE:TATAPOWER
Tata Power — Q4 FY21 Earnings Presentation
56 slides from Tata Power's earnings presentation, May 12, 2021
Slide 1: Tata Power Financial Results Q4 FY21
Tata Power Financial Results Q4 FY21 12th May 2021 …Message Box ( Arial, Font size 18 Bold) 1
Slide 2: Disclaimer
Disclaimer This document does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any
Slide 3: Content
Content ESG at Tata Q4 Highlights Power 1 2 3 4 FY 21 Business Financial Highlights Results …Message Box ( Arial, Font size 18 Bold) 3
Slide 4: Our ESG Journey
Our ESG Journey …Message Box ( Arial, Font size 18 Bold)
Slide 5: Empower a billion lives through sustainable, affordable & innovative energy
Our ESG Journey Empower a billion lives through sustainable, affordable & innovative energy …Message Box ( Arial, Fontsolutions size 18 Bold)
Slide 6: Tata Power ESG Aspiration
Tata Power ESG Aspiration Carbon Neutrality before 2050 • No new coal based capacity; phase out of existing capacities • Pursue 2 GW of solar and hybrid capacities annually to grow from 4 Clean Capacity – 80% by 2030 GW to 15 GW by 2025 & >25 GW by FY 30 • Promote mass adoption of rooftop solar & so
Slide 7: FY21 ESG Highlights
FY 21 ESG Highlights • Exited Defense business in Oct 2020 India’s Most • Tata Power ranked 13 out of 200 largest Indian companies by Sustain Labs Paris, France Sustainable • Rated A+ on 31 diverse parameters like resource efficiency, social entrepreneurship, financial management, Companies 2020 emp
Slide 8: ESG Profile launched
Title ESG Profile (Myriad launched: Pro, Font Dedicated ESGsize 24) information portal Key Results from dedicated ESG Profile Identification and prioritization Preparation of ESG profile to Identification of top quick win Publishing of ESG profile on of ESG factors from the assess company’s current
Slide 9: Environmental Improvements
Environmental Improvements Revenue mix by source EBITDA mix by source 1.1% 1.0% 1.7% 0.8% 5.1% 10.3% 1.9% 3.4% 10.7% 9.1% Growth through cleaner 30.0% 29.3% sources to reduce 41.4% reducing dependence 45.4% 30.5% 32.3% on coal based generation 41.8% 34.3% 35.8% 34.3% FY 20 FY 21 FY 20 FY 21 Revenue
Slide 10: CSR Focus Areas & Highlights – FY21
CSR Focus Areas & Highlights – FY21 FY 21 CSR SPEND MIX 4% 6% 8% 15% 39% 27% Education Livelihood & Skill Building Water Health & Sanitation Financial Inclusivity Affirmative Action & Others TARGETED OUTREACH TO WOMEN ACROSS ALL CSR INITIATIVES - FY21 30,05,199 Community Welfare Education | Health &
Slide 11: Focus on Empowering Women
Focus on Empowering Women IMPROVE EMPLOYEE GENDER DIVERSITY THROUGH WOMEN EMPOWERMENT THRU CSR PROGRAMS ENABLING, SUPPORTIVE POLICIES WOMEN EMPOWERMENT THRU CSR PROGRAMS Gender Diversity - Female Employees as % of total FY19 FY20 FY21 employees 9.1% 14325 7.6% 7.8% 12470 7.2% 7.0% 9980 FY 17 FY 18 F
Slide 12: Volunteering FY21 at a Glance
Volunteering FY 21 at a Glance 57,257 Volunteering Hrs; covering 1,380 Activities Contributed in FY21 Inauguration of Smart Class rooms at Delhi Seed balls making at Mumbai Vaccination Drive at WREL,Gujarat site Education Excellence support at Maval …Message Box ( Arial, Font size 18 Bold)
Slide 13: COVID-19 Response & Initiatives
COVID-19 Response & Initiatives Oxygen Support Resilience Kits COVID Isolation Centers Other Allied Support •Support of 50 Oxygen cylinders •63 Kits with essential aids, •Supported Govt. COVID isolation • Village sanitization, provided in Mulshi and including PPE kits, Herbal centre with 100 beds fa
Slide 14: FY21 Business Highlights
FY 21 Business Highlights …Message Box ( Arial, Font size 18 Bold)
Slide 15: Tata Power – India's Largest Private Power Distribution Company
Tata Power – India’s Largest Private Power Distribution …Message Company Box ( Arial, Font size 18 Bold)
Slide 16: ~4x growth in Distribution customers in a year
~4x growth in Distribution customers in a year REACHED 11.7 MLN CUSTOMER BASE WITH ACQUISITION OF 4 LICENSE AREAS IN ODISHA WESCO & SOUTHCO FY 20 A CURRENT CUSTOMER BASE 2.6 2.8 4.3 2.0 11.7 CESU NESCO VISIBILITY OF ₹ 9,500 CRORE CAPEX THRU REGULATORY ₹ 10,500 CRORE REVENUE FROM ODISHA LICENSE AREAS
Slide 17: TPCODL (CESU) – Green shoots of operational turnaround
TPCODL (CESU) – Green shoots of operational turnaround FAST TRACK OPERATIONAL RAMP UP & TECHNOLOGY ADOPTION 33kV Feeder Tripping 33kV PTR Tripping • 2.32 lac defective meters replaced • Change management program on safety for employees started 3500 388 • 24 * 7 Call Centre and 5 Customer Care Centre
Slide 18: Tata Power Solar – Largest integrated Solar EPC company
Tata Power Solar – Largest integrated Solar EPC company 300 MW Pavagada Project Tata Power Solar – Largest …Message Boxintegrated ( Arial, Font size 18 solar Bold) EPC company
Slide 19: Solar EPC – Focused business areas showing traction
Solar EPC – Focused business areas showing traction Revenue in ₹ crs 1 Utility Scale EPC business order book grows with ₹ 2,294 crore new orders in Q4 2.4x REVENUE JUMP IN 1 YEAR FUELLED BY ALL 2,614 1,337 4,069 SEGMENTS REGISTERING GROWTH FY 19 FY 20 FY 21 7000 208 6000 200 2 Q4 one of the best qua
Slide 20: Healthy Large EPC order win during Q4
Healthy Large EPC order win during Q4 LARGE SOLAR EPC ORDER BOOK ORDERING AS WELL AS EXECUTION PICKS UP MOMENTUM Capacity Customer (MW) TPREL 1,314 NTPC 1,100 GIPCL 100 SJVNL 100 GSECL 160 THDC 50 Total Capacity as on 31st Mar 21 2,824 Order Book as on 31st Mar 21 8,742 (₹ crore) • Ramped up manufac
Slide 21: Solar Rooftop – one stop solution for energy & allied needs
Solar Rooftop – one stop solution for energy & allied needs Rooftop Business YoY Growth Installations (MW) 175 114 86 65 FY18 FY 19 FY 20 FY 21 Key Achievements • Pan-India campaign titled ‘SOLAROOF’ “Kamai Badhaye Dildar Banaye” launched to promote rooftop solar to 30,000+ total & 15,000+ 500+ MW i
Slide 22: Solar Pumps – Consolidating market share
Solar Pumps – Consolidating market share Annual Sales (No of Pumps) Key Capabilities & Differentiators ➢ Trusted Brand ➢ Over 30+ years of Manufacturing 12,896 12,928 ➢ Strategic tie-ups with ➢ Extensive network of 143 4,506 OEMs trained Channel Partners 2,242 FY18 FY 19 FY 20 FY21 Key Achievements
Slide 23: India's largest Microgrid player
India’s largest Microgrid player Transforming …Message India’s Box ( Arial,Rural Landscape Font size 18 Bold) 23
Slide 24: Microgrid - Lighting up Lives of Rural Consumers
Microgrid - Lighting up Lives of Rural Consumers Before After Installed - 161 (4.8 MW) 200 villages covered; 3,887 Under construction – 40 (1.2 MW) customers connected Lighting up Villages Before After Value added service rolled out for Rural Consumers (EMI scheme, Energy Efficient Appliances, MFI l
Slide 25: Tata Power Solar – At forefront of the EV wave
Tata Power Solar – At forefront of the EV wave Tata Power Solar – Largest …Message Boxintegrated ( Arial, Font size 18 solar Bold) EPC company
Slide 26: Electric Vehicles – The future is here
Electric Vehicles – The future is here UPTICK IN EV PASSENGER VEHICLE SALES – DRIVEN BY UTILITY VEHICLES 456 Public Charging Points 3,000 Home Chargers 102 Cities 27 city pairs on Nat Highways 2,814 4W PV in FY 20 5,905 4W PV in FY 21 80 Ultra High Capacity Bus Prestigious Golden award for Charges i
Slide 27: Q4 Highlights
Q4 Highlights …Message Box ( Arial, Font size 18 Bold)
Slide 28: Covid-19 – Operational impact largely recovered
Covid 19 – Operational impact largely recovered CONVENTIONAL GENERATION (EXCLUDING PRAYAGRAJ) RENEWABLES – DEVELOPMENT & EPC BUSINESS ➢ Lower availability in CGPL as planned ➢ ₹ 77 crore realized from TANGEDCO ➢ Prayagraj debtors of ₹ 2,118 crore liquidated thru ➢ AP Discoms cleared 6 months payment
Slide 29: Q4 FY21 Financial Highlights
Q4 FY21 Financial Highlights DELEVERAGING & RENEWABLE OPERATIONS DELIVER 20% Y-O-Y PROFIT GROWTH REPORTED EBITDA Underlying EBITDA (Including Share of Reported PAT (before PAT (before Discontinued exceptional items) and Reported EBITDA Associates) JVs & Associated) exceptional items) Q3 FY21 Q4 FY21
Slide 30: Balance Sheet made stronger through deleveraging
Balance Sheet made stronger through deleveraging EQUITY & DIVESTMENT AIDS DEBT REDUCTION STRONG CASH ACCRUALS FROM BUSINESSES SUSTAIN DEBT 18% reduction in last 1 year 43,578 36,363 35,946 Q4 FY 20 Q3 FY 21 Q4 FY 21 Net Debt IMPROVING DEBT PROFILE Net Debt to Equity 1.42 v 1.99 in Q4 20 Net Debt to
Slide 31: Installed Capacity and Pipeline
Installed Capacity and Pipeline GENERATION PORTFOLIO ~ 31% CLEAN & GREEN Clean and Green Break-up Clean & Waste Heat Business Model MW Thermal Green Hydro Recovery / Wind Solar Total BFG Captive 429 174 255 - 255 - - Merchant 246 - 246 126 120 - - PPA/ Fixed Tariff (Bid/ Others) 4,645 4,338 307 307
Slide 32: Operational Highlights
Operational Highlights Availability Transmission - Availability 99.9 99.9 99.8 100.0 96.9 97.9 96.6 98.0 97.5 91.6 86.0 85.7 87.8 Powerlinks 100.0 85.2 78.1 100.0 69.8 99.8 MO - 99.8 Transmission 99.9 Thermal (Ex MO - Hydro Wind Solar Prayagraj PPGCL) Q4 FY20 Q4 FY21 Q3 FY21 Q4 FY20 Q4 FY21 Q3 FY21
Slide 33: Financial Results – Q4 FY21
Financial Results – Q4 FY21 …Message Box ( Arial, Font size 18 Bold) 33
Slide 34: Consolidated Performance – Q4 FY21
Consolidated Performance – Q4 FY21 Op Income EBITDA^^ PAT Particulars Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Q4 FY21 Q4 FY20 Consolidated before exceptional items 10,255 6,881 1,668 2,013 440 366 Standalone & Key Subsidiaries Tata Power (Standalone) 1,703 1,653 723 587 115 8 CGPL (Mundra UMPP) 1,653 1,727
Slide 35: Consolidated Performance – FY21
Consolidated Performance – FY21 Op Income EBITDA^^ PAT Particulars FY 21 FY 20 FY 21 FY 20 FY 21 FY 20 Consolidated before exceptional items 33,079 28,948 7,978 8,317 1,424 1,231 Standalone & Key Subsidiaries Tata Power (Standalone) 6,480 7,075 3,366 2,853 927 528 CGPL (Mundra UMPP) 6,990 7,018 922
Slide 36: Share of JV and Associates
Share of JV and Associates Particulars % Share Op Income EBITDA PAT Op Income EBITDA PAT Q4 Q4 Q4 Q4 Q4 Q4 FY 21 FY 20 FY 21 FY 20 FY 21 FY 20 FY21 FY20 FY21 FY20 FY21 FY20 Coal Companies (KPC, 30% / 2,019 1,965 484 377 175 98 7,212 8,152 1,405 1,154 330 434 BSSR, AGM) 26% Coal Infrastructure 30% 54
Slide 37: Underlying Consolidated EBITDA
Underlying Consolidated EBITDA Particulars Q4 FY21 Q4 FY20 Qtr Var FY21 FY20 YTD Var Reported EBITDA 1,668 2,013 (345) 7,978 8,317 (339) Less: PAT of JV Companies 348 315 34 873 953 (79) KPC 158 79 79 273 362 (90) BSSR 17 20 (2) 57 72 (15) Coal Infra 48 29 19 196 192 4 Powerlinks 15 13 2 52 62 (10)
Slide 38: Tata Power (Consolidated) Financial Performance
Tata Power (Consolidated) Financial Performance Particulars Q4 FY21 Q4 FY20 Qtr Var FY21 FY20 YTD Var Quarter Variance Remarks Increased project execution in TPSSL and Odisha results included post Operating Income 10,255 6,881 3,374 33,079 28,948 4,131 acquisition Operating Expenses 8,682 5,041 (3,6
Slide 39: Tata Power (Standalone) Financial Performance
Tata Power (Standalone) Financial Performance Particulars Q4 FY21 Q4 FY20 Qtr Var FY21 FY20 YTD Var Quarter Variance Remarks Operating Income 1,703 1,653 50 6,480 7,075 (595) Operating Expenses 1,207 1,152 (54) 4,364 4,805 441 Operating Profit 496 501 (5) 2,117 2,270 (154) Other Income 227 86 140 1,
Slide 40: CGPL: Key Highlights
CGPL : Key Highlights Particulars Q4 FY21 Q4 FY20 Variance FY21 FY20 Variance Quarter Variance Remark Generation (MUs) 6,635 6,566 69 26,572 26,495 76 Sales (MU) 6,134 6,067 67 24,536 24,463 73.1 Availability (%) 79% 81% -3% 80% 80% 0% PLF (%) 74% 72% 2% 73% 73% 0% HBA Coal Index 82.7 64.8 (17.9) 62
Slide 41: Coal Business (KPC): Key highlights
Coal Business (KPC): Key highlights Coal Company - KPC Q4 FY 21 Q3 FY21 Q2 FY21 Q1 FY21 Q4 FY20 Coal Mined (MT) 14.3 15.3 15.0 14.5 14.9 Coal Sold (MT) 14.1 16.0 14.8 14.3 15.0 HBA 82.7 55.5 50.6 58.0 66.6 FOB Revenue (USD/T)* 59.4 43.8 43.8 49.1 53.8 Royalty (USD/T) 8.8 6.1 5.9 6.9 7.5 Net Revenue
Slide 42: CGPL and Coal companies – Integrated performance
CGPL and Coal companies – Integrated performance CGPL Q4 FY21 Q4 FY20 Qtr Var FY 21 FY 20 YTD Var Revenue 1,653 1,727 (74) 6,990 7,018 (28) EBITDA 38 208 (169) 922 810 112 PAT (277) (218) (58) (637) (891) 253 Coal & Infrastructure Business Q4 FY21 Q4 FY20 Qtr Var FY 21 FY 20 YTD Var Revenue 2,115 2,
Slide 43: Maithon Power Limited - Highlights
Maithon Power Limited - Highlights Particulars Q4 FY21 Q4 FY20 Variance FY21 FY20 Variance Quarter Variance Remarks Generation (MUs) 1,491 1,669 (178) 6,383 6,488 (105) Sales (MUs) 1,404 1,551 (147) 5,819 6,348 (529) Availability (%) (Plant) 70% 89% -19% 90% 88% 2% Lower availability due to planned
Slide 44: Tata Power Delhi Distribution Ltd - Highlights
Tata Power Delhi Distribution Ltd - Highlights Particulars Q4 FY21 Q4 FY20 Variance FY21 FY20 Variance Quarter Variance Remarks Purchase (Mus) 1,959 1,793 (166) 8,950 9,752 802 Sales (Mus) 1,847 1,634 213 8,347 9,052 (705) Revenue Per Unit 9.05 11.31 (2.26) 8.62 9.09 (0.47) PPC 6.35 7.56 1.21 5.93 6
Slide 45: TP Central Odisha Distribution Ltd (CESU) - Highlights
TP Central Odisha Distribution Ltd (CESU) - Highlights Key Indicators Jun-20 Q2 FY 21 Q3 FY 21 Q4 FY 21 FY 21 Purchase (Mus) 776 2,437 1,883 1,866 6,961 Sales (Mus) 580 1,750 1,491 1,405 5,226 Revenue per unit 5.01 5.37 5.48 5.10 5.29 Power Cost per unit 2.86 2.85 2.95 3.01 2.92 YTD AT&C losses (%)
Slide 46: SouthCo / WESCO – Q4FY21 Highlights
TP Southern Odisha Dist Ltd (SouthCo) / TP Western Odisha Dist Ltd (WESCO) – Q4FY 21 Highlights Key Indicators T PSODL T PWODL Purchase (Mus) 902 2,013 Sales (Mus) 686 1,562 Revenue per unit 5.03 5.52 Power Cost per unit 2.22 3.48 YTD AT&C losses (%) 32.2% 27.0% Financials Income from Operation 310
Slide 47: Tata Power Renewable Energy Ltd (Standalone) – Highlights
Tata Power Renewable Energy Ltd (Standalone) – Highlights Particulars Q4 FY21 Q4 FY20 Variance FY21 FY20 Variance Quarter Variance Remarks Capacity - Total (MW) 1,146 1,136 10 1,146 1,136 10 Capacity - Wind (MW) 354 354 - 354 354 - Capacity - Solar (MW) 791 781 10 791 781 10 Generation (MUs) 569 585
Slide 48: Walwhan Renewable Energy Ltd - Highlights
Walwhan Renewable Energy Ltd - Highlights Particulars Q4 FY21 Q4 FY20 Variance FY21 FY20 Variance Quarter Variance Remarks Capacity - Total (MW) 1,010 1,010 - 1,010 1,010 - Capacity - Wind (MW) 146 146 - 146 146 - Capacity - Solar (MW) 864 864 - 864 864 - Generation (MUs) 435 454 (19) 1,659 1,654 4
Slide 49: Tata Power Solar Limited – Highlights
Tata Power Solar Limited – Highlights Particulars Q4 FY21 Q4 FY20 Variance FY21 FY20 Variance Quarter Variance Remarks Operating Income 2,777 579 2,198 5,119 2,141 2,978 Operating expenses 2,605 516 (2,089) 4,813 1,952 (2,861) Operating profit 172 63 109 306 189 117 Other income 13 18 (5) 24 25 (1)
Slide 50: Renewables – Consolidated View for Q4 FY21
Renewables – Consolidated View for Q4 FY21 Q4 FY21 Conso Renewables TPC Wind & Solar Conso Renewables Conso Renewables Key indicators TPREL^ WREL Others# TPSSL Eliminations (with EPC) Assets* (without EPC) (with EPC) After Elimination Capacity (MW) 1,146 1,010 379 158 2,693 - 2,693 - 2,693 Revenue 2
Slide 51: Renewables – Consolidated View for FY21
Renewables – Consolidated View for FY21 Q4 FY 21 Q4 FY20 FY21 FY 20 Conso Renewables Conso Renewables Conso Renewables Conso Renewables Conso Renewables Conso Renewables Conso Renewables Conso Renewables Key indicators (with EPC) (with EPC) (with EPC) (with EPC) (without EPC) (without EPC) (without
Slide 52: Regulated - Equity and Assets
Regulated - Equity and Assets Particulars Q4 FY 21 Q3 FY 21 Q2 FY 21 Q1 FY 21 Q4 FY20 Regulated Equity Mumbai Operation 4,204 4,042 4,023 4,018 3,952 Jojobera 522 522 522 522 522 Tata Power Delhi Distribution (100%) 1,679 1,633 1,624 1,617 1,541 TP Central Odisha Dist Ltd (100%) 300 300 300 300 - TP
Slide 53: Leverage Management - Debt Profile
Leverage Management - Debt Profile CONSOLIDATED PARTICULARS Q4 FY 21 Q3 FY 21 Q4 FY 20 Rupee Forex Total Total Long term 26,988 3,057 30,045 29,240 32,695 Short term 7,823 613 8,436 9,361 11,844 Current Maturity of LT 4,690 - 4,690 3,853 3,836 Total Debt 39,501 3,670 43,171 42,454 48,376 Less: Cash
Slide 54: Debt Profile
Debt Profile Total Gross Debt (LT + ST) Company 31st March 31st Dec Mar / (Inc) - 31st March Mar / (Inc) - Quarterly movement Remarks 2021 2020 3 months 2020 12 months CGPL 4,055 4,079 24 8,797 4,742 Coal SPVs 3,670 3,982 312 5,162 1,492 TPDDL 3,326 3,154 (172) 3,451 124 WREL 4,600 4,478 (122) 5,119
Slide 55: Latest Tata Power resources uploaded on website
Latest Tata Power resources uploaded on website Sr. No. Resources Link 1. Tata Power ESG Profile https://esg.churchgatepartners.com/login/CompanyProfile?id=31003 8003100240024004100530048004F004B0041004E0041004E0059004 1004100560041004E004900410053004800570049004E00490024002 400 2. Sustainability di
Slide 56: Thank You!
Thank You! Website: www.tatapower.com Investor Relations Team: Mr. Soundararajan Kasturi Mr. Rahul Shah Chief – Treasury & Investor Relations Head – Investor Relations Email: [email protected] Email: [email protected] M: +91 82912 04022 M: +91 91370 34304 …Message Box ( Arial, Font size 18 B