Adani Power Limited
Investor Presentation
June 2024
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 general business plans and strategy of Adani Power Limited ("APL") and its subsidiaries , associates, and joint ventures (combine together "Adani Thermal Power Group" or "The Group") their future outlook and growth prospects, and future developments in their businesses and their competitive and regulatory environment, and statements which contain words or phrases such as 'will', 'expected to', etc., or similar expressions or variations of such expressions. Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in their business, their competitive environment, their ability to implement their strategies and initiatives and respond to technological changes and political, economic, regulatory and social conditions in the country the business is. This presentation does not constitute a prospectus, offering circular or offering memorandum or an offer, or a solicitation of any offer, to purchase or sell any shares and should not be considered as a recommendation that any investor should subscribe for or purchase any of The Group's shares. Neither this presentation nor any other documentation or information (or any part thereof) delivered or supplied under or in relation to the shares shall be deemed to constitute an offer of or an invitation by or on behalf of The Group.
The Group, as such, makes no representation or warranty, express or implied, as to, and does not accept any responsibility or liability with respect to, the fairness, accuracy, completeness or correctness of any information or opinions contained herein. The information contained in this presentation, unless otherwise specified is only current as of the date of this presentation.
The Group assumes no responsibility to publicly amend, modify or revise any forward-looking statements, on the basis of any subsequent development, information or events, or otherwise. Unless otherwise stated in this document, the information contained herein is based on management information and estimates. The information contained herein is subject to change without notice and past performance is not indicative of future results. The Group may alter, modify or otherwise change in any manner the content of this presentation, without obligation to notify any person of such revision or changes. No person is authorized to give any information or to make any representation not contained in and not consistent with this presentation and, if given or made, such information or representation must not be relied upon as having been authorized by or on behalf of The Group.
This presentation does not constitute an offer or invitation to purchase or subscribe for any securities in any jurisdiction, including the United States. No part of it's should form the basis of or be relied upon in connection with any investment decision or any contract or commitment to purchase or subscribe for any securities. None of our securities may be offered or sold in the United States, without registration under the U.S. Securities Act of 1933, as amended, or pursuant to an exemption from registration therefrom.
Table of Contents
- About Adani Portfolio
- About Adani Power Limited (APL)
- Power Sector Growth Outlook
- APL: Capturing India's Growth Potential
- APL: Strategic Advantages
- APL: Performance Highlights and Growth Potential
- APL: ESG Practice
- APL: Investment Case Annexure
3
1
About Adani Portfolio
STRICTLY CONFIDENTIAL
Adani: A World Class Infrastructure & Utility Portfolio
Flagship
Infrastructure & Utility Core Portfolio
Primary Industry
Emerging B2C
Incubator
(72.61%)
AEL
Energy & Utility
(100%)(50.00%)
ANIL | AdaniConneX3 | |
New Industries | Data Centre | |
Transport & Logistics
(100%) | (100%) |
AAHL | ARTL |
Airports | Roads |
Materials, Metal
& Mining
(100%)
Copper, Aluminum
(100%)
PVC
(100%)
Specialist
Direct to
consumer
(100%)
ADL
Digital
(64.71%)
NDTV
(56.37%)
AGEL
Renewables
(73.22%)
AESL
T&D
(71.75%)
APL
IPP
(37.40%)
ATGL2
Gas Discom
(65.89%)(100%)
APSEZNQXT1
Ports & Logistics
Manufacturing5
(100%)
Mining Services & Commercial Mining
(70.33%)
Cement4
(43.94%)
AWL
Food FMCG
(%): Adani Family equity stake in Adani Portfolio companies (%): AEL equity stake in its subsidiaries
Listed cos | Direct Consumer |
A multi-decade story of high growth centered around infrastructure & utility core
1. NQXT: North Queensland Export Terminal | 2. ATGL: Adani Total Gas Ltd, JV with Total Energies | 3. Data center, JV with EdgeConnex, | 4. Adani Cement includes 70.33% stake in Ambuja Cements as on 17th April,2024 which in turn owns 50.05% in ACC Limited. Adani directly owns 6.64% stake in ACC Limited. Ambuja Cements Ltd. holds 60.44% stake in Sanghi Industries Ltd.| 5. Includes the manufacturing of Defense and Aerospace Equipment | AEL: Adani Enterprises Limited; APSEZ: Adani Ports and Special Economic Zone Limited; AESL: Adani Energy Solutions Limited; T&D: Transmission & Distribution; APL: Adani Power Limited; AGEL: Adani Green Energy Limited; AAHL: Adani
Airport Holdings Limited; ARTL: Adani Roads Transport Limited; ANIL: Adani New Industries Limited; AWL: Adani Wilmar Limited; ADL: Adani Digital Limited; IPP: Independent Power Producer | NDTV: New Delhi Television Ltd | | 5 |
PVC: Polyvinyl Chloride l Promoters holding are as on 31st March, 2024. |
Adani Portfolio: Decades long track record of industry best growth with national footprint
Secular growth with world leading efficiency
Growth | 3x 6 | Growth | 4x 6 |
EBITDA | 71% 1,2 | EBITDA | 92% 1,4 |
Growth | 3x 6 | Growth | 1.4x 6 |
EBITDA | 91% 1,3,2 | EBITDA | 24% 1,3 |
National footprint with deep coverage
AEL | |
APSEZ | |
AGEL | Adani's Core Infra. |
ATGL | Platform - |
350 Mn | |
APL | |
AESL | |
Adani Cement | Userbase |
Note: 1. Data for FY24 ; 2. Margin for Indian ports business only l Excludes forex gains/losses; 3. EBITDA = PBT + Depreciati on + Net Finance Costs - Other Income; 4. EBITDA Margin represents EBITDA earned from power supply 5. Operating | |
EBITDA margin of transmission business only, does not include distribution business l 6. Growth pertains to expansion and dev elopment aligned with market growth. Growth of respective Adani portfolio company vs. Industry growth is as follows: | |
APSEZ's cargo volume surged from 113 MMT to 408 MMT (14%) between 2014 and 2024, outpacing the industry's growth from 972 MMT to 1 539 MMT (5%). AGEL's operational capacity expanded from 0.3 GW to 10.9 GW (57%) between 2016 | |
and 2024, surpassing the industry's growth from 46 GW to 143.6 GW (15%). AESL's transmission length increased from 6,950 ckm to 20,509 ckm (14%) between 2016 and 2024, surpassing the industry's growth from 3,41,551 ckm to 4,85,544 | |
ckm (4%). ATGL expanded its geographical areas from 6 to 52 (27%) between 2015 and 2024, outperforming the industry's growth from 62 to 307 (19%). PBT: Profit before tax l ATGL:Adani Total Gas Limited l AEL: Adani Enterprises Limited l | |
APSEZ: Adani Ports and Special Economic Zone Limited l AESL: Adani Energy Solutions Limited l APL: Adani Power Limited l AGEL : Adani Green Energy Limited l Growth represents the comparison with respective industry segment. | 6 |
Industry source: APSEZ (domestic cargo volume):https://shipmin.gov.in/division/transport-researchl Renewable (operational capacity):Installed Capacity Report - Central Electricity Authority (cea.nic.in)l AESL (ckms):National Power Portal | |
(npp.gov.in)l ATGL (GAs): Brochure petroleum.cdr(pngrb.gov.in)| ckms: circuit kilometers | GA: Geographical Areas |
Adani: Repeatable, robust & proven transformative model of investment
DEVELOPMENT | OPERATIONS | CONSUMERS |
Adani Infra (India) Limited (AIIL) | 1 | New C.E.O. |
Operations (AIMSL) | Consumer I Employees I Other Stakeholders | |
ACTIVITY |
Origination
- Analysis & market intelligence
- Viability analysis
Site Development
- Site acquisition
- Concessions & regulatory agreements
Construction | Operation | ||
• | Engineering & design | • | Life cycle O&M |
• | Sourcing & quality | planning | |
• | Asset Management plan |
Inspired Purpose & Value Creation
- Delivering exceptional products & services for elevated engagement
- Differentiated and many P&Ls
PERFORMANCE | |
CAPITAL | MANAGEMENT |
ENABLER |
Adani's Core Infra. Platform - | ||||||||||||
350 Mn | ||||||||||||
India's Largest | Longest Private HVDC | World's largest | Energy Network | Userbase | ||||||||
Commercial Port | Line in Asia | Renewable Cluster | Operation Center | |||||||||
(at Mundra) | (Mundra - Mohindergarh) | (at Khavda) | (ENOC) | |||||||||
Strategic value | Investment Case | Growth Capital - Platform | 6% | |||||||||
Long Term Debt | ||||||||||||
Mapping | Development | Infrastructure Financing | ||||||||||
14% | 31% | 13% | ||||||||||
Framework | ||||||||||||
PSU Banks | ||||||||||||
Policy, | March | March | Pvt. Banks | |||||||||
Duration Risk Matching | 2016 | 55% | 2024 19% | Bonds | ||||||||
Strategy & | 31% | |||||||||||
Risk Management - Rate & Currency | 2% | NBFCs & FIs | ||||||||||
Risk | Governance & Assurance | 1% | DII | |||||||||
Framework | Diversified Source of Capital | 28% | Global Int. Banks | |||||||||
Capex LC | ||||||||||||
Continued | • | Power Utility Business - ENOC | ||||||||||
Human Capital | • Leadership Development Initiatives | |||||||||||
Focus & | AI enabled Digital | • | City Gas Distribution - SOUL | |||||||||
Development | • Investment in Human Capital | |||||||||||
Investment | Transformation | • | Transportation Business - AOCC | |||||||||
Note 1 Adani Environmental Resource Management Services Ltd. (additional company is being proposed) | 7 |
O&M: Operations & Maintenance l HVDC: High voltage direct current l PSU: Public Sector Undertaking (Public Banks in India) l GMTN: Global Medium-Term Notes l SLB: Sustainability Linked Bonds l AEML: Adani Electricity Mumbai Ltd. l AIMSL : Adani Infra Mgt Services Pvt Ltd l IG: Investment |
Grade l LC: Letter of Credit l DII: Domestic Institutional Investors l COP26: 2021 United Nations Climate Change Conference l AGEL: Adani Green Energy Ltd. l NBFC: Non-Banking Financial Company l AIIL: Adani Infra (India) Limited
2
About Adani Power Limited (APL)
STRICTLY CONFIDENTIAL
APL: Multifaceted power producer
Core Business
Power Generation
India's largest private
thermal power producer
Ultra-modern fleet with strong growth pipeline
Embedded Expertise
Logistics
Solid fuel and fly ash: Sourcing and disposal logistics management
Embedded logistics
function among India's
largest
Value Enhancement
Training and Vendor
Development
High quality manpower
development and
knowledge dissemination
Critical spares and vendor
development
Emerging Opportunities
Waste Management
Value creation out of
waste products
Strengthening of local
industrial base
Reliable and efficient power supplier on growth path built on core strengths
9
APL: Operating Portfolio Overview: Strategically located, diversified fleet
Near-Pithead | |
8,070 MW | |
• Tiroda, Maharashtra : 3,300 MW | |
• Raipur, Chhattisgarh : 1,370 MW | |
Assets | • Raigarh, Chhattisgarh : 600 MW |
• Mahan Phase-I, MP : 1,200 MW | |
• Mahan Phase-II, MP : 1,600 MW | |
(Under-construction) | |
Coastal
5,820 MW
- Mundra, Gujarat : 4,620 MW
- Udupi, Karnataka : 1,200 MW
Hinterland
2,920 MW
- Kawai, Rajasthan : 1,320 MW
- Godda, Jharkhand : 1,600 MW
Technology | 78% Supercritical / Ultra-supercritical | 57% Supercritical / Ultra-supercritical | 100% Supercritical / Ultra-supercritical | ||
Power sale | 73% under long-term /medium-term | 94% under long-term /medium-term | 98% under long term contracts | ||
tie-up | contracts | contracts | |||
Highlight | High Dispatch and Open Capacities | Fixed RoE, High Dispatch, and Open | High Dispatch and Transnational | ||
Capacities | Capacities | ||||
Portfolio of modern and efficient fleet with 15.25 GW operating capacity and 1.60 GW under construction
GW: Giga Watt; MW: Mega Watt; RoE: Return on Equity; MP: Madhya Pradesh | 10 |
^Include 40 MW of Solar power plant at Bitta, Gujarat
Attachments
- Original Link
- Original Document
- Permalink
Disclaimer
Adani Power Limited published this content on 21 June 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 June 2024 12:29:01 UTC.