PDF Energy Analyst 27[1].04.10-Presentation Final

8/8/2019 PDF Energy Analyst 27[1].04.10-Presentation Final

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nergy

Powering a Brighter TomorrowPowering a Brighter Tomorrow

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Q4 FY 2010

Q4FY2010


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AGENDA

OperationalPerformanceOperationalPerformance

FinancialPerformanceFinancialPerformance

StatusofProjectsStatusofProjects

WayForwardWayForward

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OPERATIONALPERFORMANCE

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OperationalPerformance

Net

Generation

(

Million

Units)Net

Generation

(

Million

Units) 5,171

152 %

2,0561,791

71 %

246 %

Q4FY09 Q4FY10 FY 2009 FY 2010

518

39 %

29 %

58 %32 %42 %

ong erm a es or erm a es

RealizationRs.PerUnitRealizationRs.PerUnit

Q4FY2009 Q4FY2010 FY 2009 FY 2010

Short Term Realisation 6.63 4.59 7.08 4.86

Average Realisation 5.25 4.26 6.03 4.52

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OperationalPerformance

NETGENERATION(Mu)NETGENERATION(Mu) FY10FY10FY09FY09Q4FY09Q4FY09 Q4FY10Q4FY10

Vijayanagar(SBU

II)

-1159

-2905

Barmer(RWPLI) - 106 - 155

o a e enera on

Vijayanagar (SBUI) 100.2 100.9 97.9 100.0

Vijayanagar(SBUII) - 96.7 - 93.8

Barmer(RWPL

I)

-43.9

-45.9

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FINANCIALPERFORMANCE

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FinancialHighlights- Standalone

1,3562,441

TotalIncome*(Rs.Crores)TotalIncome*(Rs.Crores) EBITDA (Rs.Crores)EBITDA (Rs.Crores)

53 %60 %

847

184

409

373

1,594

802

115 %

122 %

Q4 Annual

FY 09 FY 10

Q4 Annual

FY 09 FY 10

*IncludesOtherIncome

847

969

PBT (Rs.Crores)PBT (Rs.Crores) PAT(Rs.Crores)PAT(Rs.Crores)

45 % 46 %

578

315

667

298

127 %180 %

Q4 Annual

FY 09 FY 10

131

Q4 Annual

FY 09 FY 107


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StandaloneResults

TotalIncome (Rs.Crores) 372.92 802.35 1593.98 2441.03

Q4FY2009Q4FY2009 Q4FY2010Q4FY2010 FY 2009FY2009 FY 2010FY2010

EBITDA

(Rs.

Crores) 184.38 409.01 847.09 1356.03

EBITDA(%) 49.44 50.98 53.14 55.55

Interest(Rs.Crores) 38.43 71.73 120.28 262.30

Depreciation

(Rs.

Crores) 15.05 38.92 59.63 124.32

PBT(Rs.Crores) 130.90 298.36 667.18 969.41

PAT(Rs.Crores) 112.36 315.03 578.08 846.67

. . . . .

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FinancialHighlights- Consolidated

1,2882,429

TotalIncome* (Rs.Crores)TotalIncome* (Rs.Crores) EBITDA (Rs.Crores)EBITDA (Rs.Crores)

31 %

135 %

549

389

484

1,852

843

74 % 302 %

97

Q4 Annual

FY 09 FY 10

Q4 Annual

FY 09 FY 10

745868

PBT (Rs.Crores)PBT (Rs.Crores) ..

169 %136 %

* ncu es er ncome

277273368

256

1047 %495 %

24

Q4 Annual

FY 09 FY 10

43

Q4 Annual

FY 09 FY 109


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ConsolidatedResults

TotalIncome (Rs.Crores) 483.65 842.91 1852.16 2429.26

Q4FY2009Q4FY2009 Q4FY2010Q4FY2010 FY 2009FY2009 FY 2010FY2010

EBITDA

(Rs.

Crores) 96.68 389.10 548.99 1287.65

EBITDA(%) 19.99 46.16 29.64 53.01

Interest(Rs.Crores) 38.45 86.49 120.94 283.70

Depreciation

(Rs.

Crores) 15.29 47.03 60.21 136.10

PBT(Rs.Crores) 42.94 255.57 367.84 867.85

PAT(Rs.Crores) 23.80 273.03 276.69 745.49

. . . . .

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FinancialHighlights

ConsolidatedasatMarch31,2010ConsolidatedasatMarch31,2010

Rs.Crores

Net Worth 4780.20

Debt 7870.14

Net Fixed Assets * 11597.94

.

Weighted Average Cost of Debt (%) 11.51

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*Including CWIP


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MAJORDEVELOPMENTS

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MajorDevelopments

PERFORMANCEPERFORMANCE PROJECTSPROJECTS VERTICALINTEGRATIONVERTICALINTEGRATION

260MWgeneratingstationconferredNationalAwardformeritorious

AcquisitionofmajoritystakeinSouthAfricanCoalMiningHoldingLimited

in

April

2010

400KVDoubleCircuitQuadMooseConductorTransmissionlinefromJaigad

to

New

Koyna

performancefor2009 DomesticCoallinkage

approvedforRWPLfortwoyears

c arge nApr 2010

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AcquisitionofMajorityStakeinSACMH

KeyFeaturesKeyFeatures

LocationUmlabu

&

Ilanga

(Wit

Bank

Region),

South

Africa

JSWEnergyacquired49.8%stakeinRoyalBafokengCapitalbyprovidingavalueofZAR30centspershareof

Resources*m a u: xp ore , nexp ore

Ilanga:1MT

Reserves* Umlabu:

Explored

14

MT,

Unexplored

6

MTIlan a:1MT

SACMH

Totalpayoutforacquiring100%

stakein

SACMH

ZAR

160.69

DistancetoPort

RBCT:402Km

Maputo:405Km

Durban:520Km

.

RichardsBayCoalTerminalEntitlementformilliontonsperannum

CoalSpecifications

GCV(NAR) 6000Kcal - 6200Kcal

Railwaysidingwithintheminewithacapacitytohandleupto5milliontonsperannum

Investment

time)

*As per SRK Report 14


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STATUSOFPROJECTS

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Jaigad

Power

Transco

Ltd.-

JV

with

MSETCL

StatusUpdateStatusUpdateProjectDetailsProjectDetails

GrossCapacity 1200MW,400KVTransmission

Jaigad to New Koyna charged

Technology

ou e rcu t ua ooseConductorLine

Procurement Ordersplaced

Tower Foundations: 71%Tower Erection: 39%

ProjectCost

Rs.580CroresincludingIDC

Debt:Equity:75:25

ActualspenttillMar31,2010:

Land:Rightofwayachieved

. .

ExpectedCommissioning

November2010

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JointVentures

BLMCL MinedevelopmentprocesscommencedatKapurdi

tatus

p atetatus

p ate

Expectedto

extract

lignite

by

first

quarter

of

calendar

2011

MJSJCoal Publichearingprocesscompleted

Landacquisitioninprocess

Targettocommenceproductionin2011

Leveling&soilfillingwork&100%pilingworkcompleted

JSWToshiba Ground

broken

for

turbine

manufacturing

facility

Contractsforcivilworksfinalised

Totalprojectcompletion16%

BlademanufacturingbyYear2011

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GENERATIONPROJECTS

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RajWestPowerLtd.Barmer - I

StatusU dateStatusU date

GrossCapacity 1,080MW(8x135)

Technology Sub-criticalCaptiveLignitebasedTPP

Full load operation achieved for unit 1

Unit 2 Boiler H dro test is com leted

FuelLinkageFSA

with

BLMCL

(49%

JV)

for

supply

of

lignitefromcaptiveligniteminesofBLMCL Target Synchronization

89%

erection

of

Unit

2

BTG

completed

WaterAllocation

AllocationfromIGNP Unit 2 May10

Unit 3 August10

PowerOfftakeLongTerm:PPAforentirecapacitywithstateGovernmentdistributionutilities

Unit 4 October10

Unit 5 December10

ProjectCost

Total

Cost:

Rs.

5000

CrsDebt/Equity:75:25

AmtspenttillMar31,2010:

Rs.4,781.0Crs

Unit 6 January 11

Unit 7 March11

Unit 8 February11

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JSWEnergy(Ratnagiri)Ltd.- 4x300MW

bi

GrossCapacity 1200MW(4x300)

Boiler-1 light up and chemical cleaningcompleted


ec no ogy u -cr ca mpor e oa ase

FuelLinkage LongtermsupplyarrangementforIndonesiancoal

-

Start up power commenced on April 16th

and three bays of switchyard chargedFinancialclosureachieved

a erAllocation

MIDC+SeaWater

300

MW

to

MSEDCL

for

25

years

with

pass

throu hParticulars % of total

Turbine -1barringgearoperationisinprogress

PowerO ta eAbilitytoavailshorttermratesforbalance900MW

TotalCost:Rs.4500Crs

PCC & RCC 89

TG Structural Fabrication 89

TG Structural Erection 65

ProjectCost Debt

/Equity:

75:25

AmtspenttillMar31,2010:

Rs.3,526.6Crs

Boiler1 Erection 94

Boiler2 Erection 90

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Un tI nMay2010

EntireprojectbyNovember/December

2010

Boiler4 erection 54

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RajWestPowerLtd.BarmerII - 2x135MW



Technology SubcriticalCaptivelignitebasedTPP

FuelLinka e A liedtoMinistr ofCoal

Land in possession

Appliedforcoallinkage

WaterAllocation

AllocationfromIGNP

PowerOfftake

arrangements

ProjectCost TotalCost:Rs.1350Crs


January2013

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KutehrHydroProject- 3x80MW

Public hearing for Environment clearance



Technology Run-of-the-riverHydropower

e success u y on pr

Prequalification

tenders

floated

for

Main

CivilWorks

HPSEBapprovedconstructionpowerof3

WaterAllocation

RaviRiver

Freepower

to

GoHP

12%

to

30%

LandAcquisitioninProcess

Techno

Economic

Clearance

from

CEA

awaitedPowerOfftake

.Balancethroughshorttermarrangements

TotalCost:Rs.1915.2Crs.

ProjectCost Debt

/

Equity:

56:44AmtspenttillMar31,2010:Rs.89.0Crs

CommissioningSeptember2015

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ChhattisgarhPowerProject- 2x660MW

Project site clearance received from StateGovernment in July09



TOR received from MoEF

Rail Transport Clearance received

TechnologySuper-criticaldomesticcoalbased

TPP

MoUsignedwithGoCGforsettingupa

DPR finalised

Landacquisition

in

progress

TPPalongwithintegratedcoalmine

FuelLinkage

11%interestincoalblockjointly

allocated;applied

for

additional

coal

BTG bid evaluation process commencedWaterAllocation

35mncmpawaterallocatedfromMahanadiRiver

PowerOfftake Combination

of

LTPPA

and

short

term

agreementswithJSWPTC;35%toStateGovt.

Rs.6,500CrsProjectCost Amt spenttillMar31,2010:

Rs.19.5Crs

Expected

CommissioningUnit

I-

July2014

UnitII November2014 23


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WestBengalPowerProject- 2x800MW


Su er-criticalDomesticcoalbased

Water availability study conducted


ec no ogyTPP

ShareHolding74% - JSWEL26% - JSWBengalSteelLimited

Bengal State Power Distribution Co. Ltd. for

entering into a long term Power PurchaseAgreement for surplus power.

FuelLinkage

IchhapurMines- WBMDTCtosupply

fuel

procurement on March 31, 2010

DPR finalised

PowerOfftake

Captivesaletothesteelplantontwo

parttariffframeworkandbalancefor

BTG bid evaluation by June 2010

outsidesale

ProjectCost

Rs.7680CrsforPowerplantRs.2000CrsforMinesDevelopment

AmtspenttillMar31,2010:Rs.8.6Crs

Expected

Commissioning

UnitI:2014

UnitII

:2015

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JSWEnergy(RatnagiriII)Ltd. 3200MW


,

Technology Super-critical

imported

coal

based

TPP

Authority

Maharashtra

Fuel

Linkage

ImportedCoalfromIndonesiaand

Mozambique-Agreements

in

place

WaterAllocation SeaWater

PowerOfftake Participatedinbidsforpowertie-up

ProjectCost Rs.150Bn.


April2015

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JharkhandPowerProject 1620MW


,

Technology1,320MW - Super-criticalDomesticcoalbasedTPP;300MWSub-critical

an en e

Appliedfor

coal

linkage

Authority MoUwithGoJ

WaterAllocation Water

is

proposed

to

be

sourced

from

PowerOfftake25%toStateGovernment;restthroughLTPPAandSTPPAwithJSWPTC

ProjectCost Rs.79Bn.

ExpectedAugust2015

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Strategy&WayForward

Ensurefuel

security

Creating worldclasspowerutilitycompany

Balancedoff-takearrangements

u generat onassetsw tdiversifiedfuel

Captureopportunityprovidedbypowersector

2727


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SitePhotographs:RajWestPowerLimited

PlantOverviewPlantOverview


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Line1ErectionCompletedLine1ErectionCompleted

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Certain statements in this report concerning our future growth prospects are forward looking statements,which involve a number of risks, and uncertainties that could cause actual results to differ materially from

those in such forward looking statements. The risk and uncertainties relating 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 including those factors which may affect our cost

, , ,cost overruns on fixed- price, fixed-time frame contracts, our ability to commission mines withincontemplated time and costs, our ability to raise the finance within time and cost client concentration,restrictions on immigration, our ability to manage our internal operations, reduced demand for power, ourabilit to success ull com lete and inte rate otential ac uisitions, liabilit or dama es on our servicecontracts, the success of the companies in which the Company has made strategic investments, withdrawalof fiscal/governmental incentives, impact of regulatory measures, political instability, legal restrictions onraising capital or acquiring companies outside India, unauthorized use of our intellectual property and

general economic conditions affecting our industry. The company does not undertake to update anyorwar oo ng s a emen s a may e ma e rom me o me y or on e a o e company.

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PDF Energy Analyst 27[1].04.10-Presentation Final