Tata Power Company Limited · NSE:TATAPOWER
Tata Power — The Tata Power Company — FY2012 Earnings Presentation
35 slides from Tata Power's earnings presentation, May 2012
Slide 1: Analyst Call May 2012
Presentation Title (Company The Tata Power Arial, Font sizeLtd. 28 ) Date, Venue, etc Analyst ..( Arial, size–18 FontCall 22) May 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 …Message Box ( Arial, Font size 18 Bold)
Slide 4: Standalone Results: FY12
Standalone Results: FY12 Quarter ended Year ended Particulars 31-Mar-12 31-Dec-11 31-Mar-11 31-Mar-12 31-Mar-11 (A) MUs MUs MUs MUs MUs 1. Generation 3,599 3,970 3,531 15,230 15,325 2. Sales 3,593 3,922 3,777 15,240 16,060 (B) ` Crores ` Crores ` Crores ` Crores ` Crores 1. Income from Operations a)
Slide 5: Standalone Results: FY12
Standalone Results: FY12 Rs. Crs Quarter Ended Year Ended 31-3-12 31-12-11 31-3-11 31-3-12 31-3-11 PAT 116.97 458.16 267.71 1,169.73 941.49 Interest on Perpetual Bond( Net of Tax) 43.92 32.28 - 113.61 - Statutory Appropriation (28.00) 3.00 (36.52) (19.00) (28.52) PAT after Statutory Appr 101.05 422.
Slide 6: Standalone Segmental Results: FY12
Standalone Segmental Results: FY12 Standalone Quarter ended Year ended Particulars 31-Mar-12 31-Dec-11 31-Mar-11 31-Mar-12 31-Mar-11 Segment Revenue Power Business 2,211.71 2,175.20 1,695.68 8,131.78 6,733.27 Coal Business - - - - - Others 162.98 76.66 66.95 364.06 185.21 Total Segment Revenue 2,374
Slide 7: Q4 FY12 vs. Q4 FY11 Financial Performance – Standalone
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Slide 8: Q4 FY12 Highlights – Standalone
Q4 FY 12 Highlights – Standalone Gross generation at 3599 MUs as against 3531 MUs in PY up by 2% - Generation in Mumbai Operations was 2433 MUs as against 2463 MUs in PY down by 1% - Lower generation from Unit 5 on account of planned outage offset by higher generation from Unit 6 - Lower generation
Slide 9: Q4 FY12 Financial Highlights – Standalone
Q4 FY 12 Financial Highlights – Standalone • Revenue at Rs. 2184.02 Cr (PY Rs. 1630.22 Cr) up by 34% •Higher mainly due to truing-up adjustments on account of higher entitlements under MYT, improved operational performance and higher capitalization. MERC truing up was higher due to impact of truing
Slide 10: Q4 FY12 Financial Highlights – Standalone
Q4 FY 12 Financial Highlights – Standalone • Cost of Fuel at Rs. 1280.82 Cr (PY Rs. 825.15 Cr) higher by 55% • Rs. 322 Cr due to higher fuel prices offset by better fuel efficiency of Rs. 31 Cr , Rs. 187 Cr lower due to change in fuel mix in Trombay offset by Rs. 23 Cr due to lower generation in Bel
Slide 11: Q4 FY12 Financial Highlights – Standalone
Q4 FY 12 Financial Highlights – Standalone • Profit from Operations before Other Income, Finance costs and Exceptional Items at Rs. 293.80 Cr (PY Rs. 301.93 Cr) down by 3% • Other Income • Loss on Exchange at Rs. 112.49 Cr compared to gain on exchange of Rs. 6.37 Cr in PY due to rupee depreciation.
Slide 12: Q4 FY12 Financial Highlights – Standalone
Q4 FY 12 Financial Highlights – Standalone • Profit Before Interest and Exceptional Items at Rs. 286.60 Cr (PY Rs. 389.21 Cr) down by 26% • Finance costs at Rs. 138.81 Cr (PY Rs. 131.84 Cr) up by 5% • Mainly due to higher wind capitalization (Rs. 10 Cr) offset by repayment of existing loans • Profit
Slide 13: FY12 vs. FY11 Financial Performance – Standalone
FY12 vs. FY11 Financial Performance – Standalone …Message Box ( Arial, Font size 18 Bold)
Slide 14: FY12 Highlights – Standalone
FY 12 Highlights – Standalone Gross generation at 15230 MUs as against 15325 MUs in PY down by 1% - Generation in Mumbai Operations was 10742 MUs as against 10840 MUs in PY down by 1% - Mainly due to lower generation due to planned outage in Unit 5 offset by higher generation from hydros - Generatio
Slide 15: FY12 Highlights – Standalone
FY 12 Highlights – Standalone • Revenue at Rs. 8051.53 Cr (PY Rs. 6599.36 Cr) higher by 22% • Mainly due to impact of higher fuel cost and higher power purchase(Rs. 735 Cr) in Mumbai Operations • Rs. 79 Cr due to new wind units commissioned in FY12 as mentioned earlier • Offset by Impact of lower sa
Slide 16: FY12 Highlights – Standalone
FY 12 Highlights – Standalone • Depreciation at Rs. 570.35 Cr (PY Rs. 510.14 Cr) up by 12% • Higher in Wind assets mainly due to commissioning of 99 MW of Poolavadi ,45 MW of Agaswadi wind farms (Rs. 30 Cr) and higher capitalization in Mumbai transmission and distribution network (Rs. 16 Cr) • Profi
Slide 17: FY12 Highlights – Standalone
FY 12 Highlights – Standalone • Profit before Tax at Rs. 1682.87 Cr (PY Rs. 1111.82 Cr) up by 51% • Provision for Tax at Rs. 513.14 Cr (PY Rs. 170.33 Cr) higher by 201% • Increase in Current tax from Rs. 134 Cr in PY to Rs. 322 Cr mainly due to higher profits, increase in Section 14A disallowances a
Slide 18: Financial Performance – Consolidated
Financial Performance – Consolidated …Message Box ( Arial, Font size 18 Bold)
Slide 19: FY12 Financial Results (Consolidated)
FY 12 Financial Results (Consolidated) Quarter ended Year ended Particulars 31-Mar-12 31-Dec-11 31-Mar-11 31-Mar-12 31-Mar-11 ` Crores ` Crores ` Crores ` Crores ` Crores 1. Income from Operations a) Revenue 6,482.98 6,166.61 4,671.31 23,349.81 18,167.12 Add : Income to be recovered in future tariff
Slide 20: Q4 FY12 vs. Q4 FY11 Financial Performance – Consolidated
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Slide 21: Q4 FY12 Financial Highlights – Consolidated
Q4 FY 12 Financial Highlights – Consolidated • Total Income at Rs. 7234.76 Cr (PY Rs. 5015.48 Cr) up by 44% • Increase of Rs. 678 Cr in coal companies (Rs. 220 Cr due to higher realization, Rs. 224 Cr due to higher quantity of coal sold and Rs. 235 Cr due to depreciation) • Higher in Tata Power by R
Slide 22: Q4 FY12 Financial Highlights – Consolidated
Q4 FY 12 Financial Highlights – Consolidated • Key reasons for variation in the Total Expenditure are as follows: • Staff Costs up by Rs. 93 Cr mainly due to higher staff cost in Tata Power (Rs. 63 Cr) as explained earlier and TPDDL (Rs. 14 Cr) • Cost of Power Purchased higher by Rs. 430 Cr due to h
Slide 23: Q4 FY12 Financial Highlights – Consolidated
Q4 FY 12 Financial Highlights – Consolidated • Loss on exchange of Rs. 165.94 Cr (PY Gain on exchange Rs. 72.13 Cr) mainly due to forex loss in Tata Power (Rs. 119 Cr) as explained earlier, forex gain taken to P&L in CGPL in PY (Rs. 62 Cr) and forex loss in KPC and Arutmin due to VAT realignments (R
Slide 24: FY12 vs. FY11 Financial Performance – Consolidated
FY 12 vs. FY11 Financial Performance – Consolidated …Message Box ( Arial, Font size 18 Bold)
Slide 25: FY12 Financial Highlights – Consolidated
FY 12 Financial Highlights – Consolidated • Total Income at Rs. 26001.40 Cr (PY Rs. 19450.76 Cr) up by 30% • Increase of Rs. 2781 Cr in coal companies mainly due to higher realizations (Rs. 1652 Cr), higher quantity of coal sold (Rs. 690 Cr) and exchange rate fluctuation (Rs. 440 Cr) • Higher by Rs.
Slide 26: FY12 Financial Highlights – Consolidated
FY 12 Financial Highlights – Consolidated • Key reasons for variation in the Total Expenditure are as follows: • Employee Benefits Expense higher by Rs. 320 Cr mainly due to Tata Power Standalone (Rs. 172 Cr) as explained earlier and higher staff costs in coal companies- also due to rupee depreciati
Slide 27: FY12 Financial Highlights – Consolidated
FY 12 Financial Highlights – Consolidated • Loss on Exchange of Rs. 425.05 Cr (Gain on Exchange of PY Rs. 173.81 Cr) mainly due to depreciation of rupee • Provision for impairment of Rs. 1800 Cr mainly due to impairment in CGPL on account of revised coal prices in Q2FY12 , provision for impact of AS
Slide 28: Segment wise Financial Performance – Consolidated
Segment wise Financial Performance – Consolidated …Message Box ( Arial, Font size 18 Bold)
Slide 29: Segment Results (Consolidated): FY12
Segment Results (Consolidated): FY12 ` Crores Consolidated Quarter ended Year ended Particulars 31-Mar-12 31-Dec-11 31-Mar-11 31-Mar-12 31-Mar-11 Segment Revenue Power Business 4,605.01 3,909.85 3,196.86 16,169.59 12,305.62 Coal Business 2,337.83 2,700.71 1,714.18 9,196.52 6,400.47 Others 323.92 170
Slide 30: Segment Highlights (Consolidated): Q4FY12
Segment Highlights (Consolidated): Q4FY12 • Revenue from Power Business at Rs. 4605.01 Cr (PY Rs. 3196.86 Cr) up by 44% • Higher in TPDDL by Rs. 664 Cr mainly due to higher power purchase and fuel costs • Higher in Tata Power Standalone by Rs. 596 Cr as explained earlier • Higher in Maithon by Rs. 1
Slide 31: Segment Highlights (Consolidated): FY12
Segment Highlights (Consolidated): FY12 • Revenue from Power Business at Rs. 16169.59 Cr (PY Rs. 12305.62 Cr) up by 31% • Increase by Rs. 1666 Cr in Tata Power as explained earlier • Increase in revenue of Rs. 1445 Cr in TPDDL due to higher power purchase and fuel cost and impact of ATE order • Incr
Slide 32: Subsidiary Performance
Subsidiary Performance …Message Box ( Arial, Font size 18 Bold)
Slide 33: Key Subsidiary Performance: Q4 FY12
Key Subsidiary Performance: Q4 FY 12 Key Subsidiaries Op. Income Op. Profit PBT PAT % change Q4FY 12 Q4FY 11 Q4FY 12 Q4FY 11 Q4FY 12 Q4FY 11 Q4FY 12 Q4FY 11 in PAT TPDDL 1200.2 924.6 194.1 151.6 92.2 112.6 73.9 92.6 -20.2% Powerlinks 69.6 69.7 66.9 64.4 37.0 30.2 29.6 24.2 22.3% Industrial Energy 10
Slide 34: Key Subsidiary Performance: FY12
Key Subsidiary Performance: FY 12 Key Subsidiaries Op. Income Op. Profit PBT PAT % change in PAT FY 12 FY 11 FY 12 FY 11 FY 12 FY 11 FY 12 FY 11 TPDDL 5194.7 3988.1 775.4 488.9 427.8 320.0 338.6 258.2 31.4% Powerlinks 281.6 288.4 269.4 273.6 141.0 132.0 112.8 105.7 6.7% Industrial Energy 433.7 125.5
Slide 35: Thank you
Thank you …Message Box ( Arial, Font size 18 Bold)
The Tata Power Company — FY2012 Earnings Presentation on 6ix