01.11.10 Analyst Presentation

8/8/2019 01.11.10 Analyst Presentation

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Indian Scenario

Company Overview

Performance Highlights

Financia Hig ig ts

StatusofPro ects

BusinessStrategy

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Power SupplyDeficit(Apr-Sep2010)IndiaOutshinesGlobalGDPForecasts

Source: IMF, CEA 5


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CapacityAddition(Apr2010 Sept2010) CapacityInstalledasonSeptember30,2010

6Source: Ministry of Power, CEA

TOTALCAPACITY:165GW


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240MW

270MW

Established power company with

rofitable o erations since

270MW1,620

MW

inception in FY 2000

-- Operating capacityOperating capacity Current: 1,430 MWCurrent: 1,430 MW

WestBengal

Chhattisgarh1,620MW

Jharkhand

-- By July 2011: 3,140 MWBy July 2011: 3,140 MWRatnagiri

Vijayanagar

1,320MW

300MW

-- By FY 2016:By FY 2016: 12,07012,070 MWMW Projects under operation & constructionProject s under development

900MW

3,200MW

860MW

Operational

Implementation/construction

Development

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Imported Coal Domestic Coal HydroLignite


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Achieved Commercial Operation Date (COD) on September 1, 2010

Jaigad to New Koyna transmission line 2 successfully charged inu y

ve o grow n capac y on year on year as s

Refinanced Rs. 1 003 Crores of hi h cost debt

Reduction in interest rate by approx 1.47%

Awarded NDTV Profit Business Leadership Award, 2010 in PowerSector

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PlantWisePerformance(Q2FY2011)CapacityGrowth(MW)

398%

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VolumeGrowth(Millionkwh)NetGeneration(Millionkwh)

1781

108%

1211

47%

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3,608

SalesMix(Millionkwh)

1,781

36 %

1,731

26 %1,211

64 % 74 %71 %

29 %

Q2FY2010 Q2FY2011 H1FY2010 H1 FY2011

Short Term Realisation 5.15 4.65 5.51 5.25

Realisation` perkwh

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Average Realisation 4.61 4.34 4.94 4.71


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Turnover(Turnover(` Crores)Crores) EBITDA (EBITDA (` Crores)Crores)

112 % 70 %

15 %

PBT (PBT (` Crores)Crores) PAT(PAT(` Crores)Crores)70 % 80 %

2 %6 %

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573 875 Turnover (` Crores) 895 1,858

324 503 EBITDA (` Crores))) 374 857

57% 57% EBITDA (%) 42% 46%

71 110 I t t (` C )) 94 1681 110 Interest (` Crores)) 94 168

32 47 Depreciation (` Crores) 55 102

221 346 PBT (` Crores) 225 587174 268 PAT (` C ) 185 483

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174 268 PAT (` Crores) 185 4831.27 1.96 EPS (` ) (Not Annual ised) 1.13 2.95


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NetWorth

(` Crores) 4,780 5,264

Debt(` Crores) 7,870 8,634

NetFixed

Assets

(` Crores)

* 11,598 12,474

DebtEquityRatio(Times) 1.65 1.64

WeightedAverage

Cost

of

Debt 11.51

% 11.32

%

*Including CWIP

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Utilisation

upto

September

30,

2010

Pro ect

Utilisationas

perProspectus

Actua Amount

Spentupto

Sept30,2010

PartFinanceforIdentifiedPro ects2142.53 969.31

RepaymentofCorporateDebt470.00 470.00

ShareIssueExpenses 75.98 64.52

GeneralCorporatePurpose11.49 -

UnutilisedAmount

nveste nMF Ban FD Ut se or

reductionofOverdraft

- 1196.17

GrossProceedsreceivedfromIPO 2,700.00 2700.00

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Capacity expansion at Vijayanagar by 660 MW

Introduction of Employee Stock Option Scheme (ESOS)

ssuance o upto , , , stoc opt ons convert e nto equanumber of equity shares

(dilution of 1.20%)

Subject to approval of shareholders

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StatusUpdateProjectDetails

GrossCapacity 1200

MW,

400

KV

Transmission

DoubleCircuit uadMoose

Jaigad KoynaLineIIsuccessfullychargedonJuly7,2010

Technology

ConductorLine

Procurement Ordersplaced

Jaigad Karad:

Tower Foundations: 88%

Tower Erection: 53%

ProjectCost

` 580CroresDebt:Equity:75:25

ActualspenttillSept30,2010:

` 377CrsExpected

CommissioningFebruary2011

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Minedevelo ment rocesscommencedatKa urdi

StatusUpdate

BLMCL

MOEFClearancereceivedforJalipamines

Minedevelopment

plan

approved

for

Jalipa

mines

ExpectedtoextractlignitebyQ4FY2011

60%workcompletedforKapurdimines

LandacquisitionatadvancedstageforJalipamines

MJSJCoal Publichearingprocesscompleted

Landacquisitioninprocess

Tar ettocommence roductionin2012

JSWToshibaBladeshopmachiningcentreequipmentreceived

Temporarypowerreceivedatsite

ProgressforBladeShop97%

Blade

manufacturing

by

2011ManufacturingofTGsetsby2012 22


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Gross Ca acit 1 080MW 8x135Unit II COD October 4, 2010


Technology Sub-critical

Captive

Lignite

based

TPP

FSAwithBLMCL 49% V forsu l

PLF of 73.85% for Unit I during

September 2010

Unit III & IV boiler hydro test completed

Fuel Linkage oflignitefromcaptiveligniteminesof

BLMCL

Water

Raw Water pipe line commissioned

Tapering coal linkage approved byMinistry of Coal for 50% of coalAllocation

Power Off take

LongTerm:PPAforentirecapacity

withstateGovernmentdistribution

requirement

utilities

` 6085Crs

Project Cost

AmtspenttillSept30,2010:

` 4790Crs24


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bi

Gross Capacity 1200MW(4x300) Boiler II light up done & steam blowing


Technology Sub-criticalImportedCoalbasedTPP

Fuel LinkageLongtermsupplyarrangementfor

Indonesiancoal&minesinSouthAfrica

starte

Unit II synchronization expected inNovember 2010

Water

AllocationMIDC+SeaWater

TG put on barring for Unit II

Boiler III & IV hydro test completed

Power Off take

passthrough

Abilitytoavailshorttermratesfor

balance900MW

in progress

Project Cost

` 5650Crs

Debt/Equity:75:25

AmtspenttillSept30,2010:` 4056Crs

Expected

Commissioning

UnitICODachievedon

September1,

2010

EntireprojectexpectedbyFY2011 25


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GrossCapacity 1620MW Water availability study conducted


TechnologySuper-criticalDomesticcoalbasedTPP

ShareHoldin74% - JSWEL

In principle approval received for

entering into a LT PPA for surplus power

Agreement executed for coal raising &coal procurement

- enga ee m e

FuelLinkage

IchhapurMines- WBMDTCto

DPR finalised

Bids invited for BTG equipment supply

Land in possession

PowerOfftake

Captivesaletothesteelplanton

twoparttariffframeworkand

excess orou s esa e

ProjectCostPhase - I

` 3,300CrsforPowerplant` 1,500CrsforMinesDevelopmentAmtspenttillSept30,2010:` 3232

Expected

CommissioningPhase - I

October2014

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Consent for chimney clearance given byAirport Authority

GrossCapacity 1,320MW(2x660)

Su er-criticaldomesticcoalbased


Tender documents for BTG issued

Public hearing completed in August2010

ec no ogyTPP

AuthorityMoUsignedwithGoCG forsettingupaTPPalongwithintegratedcoal

Water allocation obtained fromMahanadi river on September 8, 2010

Topography survey and geo-technical

FuelLinkage11%interestincoalblockjointlyallocated;appliedforadditional

coallinkage

Landacquisitioninprogress 225acres

alreadyacquired

WaterAllocation35mn cmpa waterallocatedfromMahanadiRiver

CombinationofLTPPAandshortPowerOfftake termagreementswithJSWPTC;35%

toStateGovt.

ProjectCost` 6,500Crs

AmtspenttillSept 30,2010:` 38CrsExpected

Commissioning 201427


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Prequalification of vendors completed


GrossCapacity 240MW(3x80)

Technology Run-of-the-riverHydropower

or a n v or s

Public hearing for Environmentclearance held successfully

Water

AllocationRaviRiver

Freepower

to

GoHP 12%

to

Techno Economic Clearance from CEAreceived on August 30, 2010

Landacquisitionunderprogress All

sixaffectedGrampanchayatshavegivenPowerOfftake

years.Balancethroughshorttermarrangements

`

NOC

Environmentclearancemeeting

scheduledfor12th November,2010

ProjectCost

` Amt

spent

till

Sept

30,

2010

:` 91Crs

Biddocumentsfor maincivilworks

underfinalstageofpreparation

Commissioning2015

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GrossCapacity 660MW(1x660)

Technology Supercritical

coal

based

TPP

Importedcoal/Domesticlinkage

Land identified

MOEFapprovalbeingappliedfor

coal

WaterSource Almatti Dam

PowerOfftakeerc an power ong erm

PPA

ProjectCost TotalCost:` 3,300CrsExpectedCommissioning

2014

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Gross Capacity 270MW(2x135)

TechnologySubcriticalCaptivelignitebased

TPP

Land in possession

Appliedforcoallinkage

Fuel Linkage AppliedtoMinistryofCoal

Water

Allocation Allocation

from

IGNP

Power Off takeShortTermpowerpurchase

arrangements

TotalCost:` 1350CrsProject Cost

` Amount

spent

till

Sept

30,

2010

:` 61Crs

Expected

Commissionin2014-2015

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,

Technology Super-critical

imported

coal

based

TPP

Substantial land in possession

Inthe

process

of

obtaining

necessaryconsentsandapprovals

Authority

ofMaharashtra

Fuel

Linkage Imported

Coal

WaterAllocation SeaWater

PowerOfftake

agreements

ProjectCost` 150Bn.

AmtspenttillSept30,2010:` 45CrsExpectedCommissioning

2016

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BeyondCoreBusiness

Mining

Harnessgrowthopportunity

providedby

the

sector

SustainCoreBusiness

EquipmentManufacturing

Accessto

New

Business

Straddleallsegmentsof

powerbusiness

Transmission

Trading

Distribution

Integration

Strengt en ng

FuelSecurity

SecuringCoreBusiness

PowerGeneration

CostReduction

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PlantOverview

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AsonSeptember30,2010

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AsonJune30,2010


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AsonJune30,2010

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TG4

TG3

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AsonJune30,2010


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AsonJune30,2010

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Certain statements in this report concerning our future growth prospects are forward lookingstatements, which involve a number of risks, and uncertainties that could cause actual results todiffer materially from those in such forward looking statements. The risk and uncertaintiesrelating to these statements include, but are not limited to risks and uncertainties regarding

fluctuations in earnings, our ability to manage growth, intense competition within Power industry, ,

attract and retain highly skilled professionals, time and cost overruns on fixed-price, fixed-timeframe contracts, our ability to commission mines within contemplated time and costs, our ability toraise the finance within time and cost client concentration, restrictions on immigration, our ability

to mana e our internal o erations, reduced demand or ower, our abilit to success ull com leteand integrate potential acquisitions, liability for damages on our service contracts, the success ofthe companies in which the Company has made strategic investments, withdrawal of

fiscal/governmental incentives, impact of regulatory measures, political instability, legalrestrictions on raising capital or acquiring companies outside India, unauthorized use of ourn e ec ua proper y an genera econom c con ons a ec ng our n us ry. e company oes

not undertake to update any forward looking statements that may be made from time to time by oron behalf of the company.

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01.11.10 Analyst Presentation