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8/8/2019 PDF Energy Analyst 27[1].04.10-Presentation Final
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nergy
Powering a Brighter TomorrowPowering a Brighter Tomorrow
1
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
11
*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
StatusUpdateStatusUpdateProjectDetailsProjectDetails
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
64
ExpectedCommissioning
Un tI nMay2010
EntireprojectbyNovember/December
2010
Boiler4 erection 54
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RajWestPowerLtd.BarmerII - 2x135MW
StatusUpdateStatusUpdateProjectDetailsProjectDetails
GrossCapacity 270MW(2x135)
Technology SubcriticalCaptivelignitebasedTPP
FuelLinka e A liedtoMinistr ofCoal
Land in possession
Appliedforcoallinkage
WaterAllocation
AllocationfromIGNP
PowerOfftake
arrangements
ProjectCost TotalCost:Rs.1350Crs
ExpectedCommissioning
January2013
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KutehrHydroProject- 3x80MW
Public hearing for Environment clearance
StatusUpdateStatusUpdateProjectDetailsProjectDetails
GrossCapacity 240MW(3x80)
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
GrossCapacity 1,320MW(2x660)
StatusUpdateStatusUpdateProjectDetailsProjectDetails
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
GrossCapacity 1,600MW(2x800)
Su er-criticalDomesticcoalbased
Water availability study conducted
StatusUpdateStatusUpdateProjectDetailsProjectDetails
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
StatusUpdateStatusUpdateProjectDetailsProjectDetails
,
Technology Super-critical
imported
coal
based
TPP
Authority
Maharashtra
Fuel
Linkage
ImportedCoalfromIndonesiaand
Mozambique-Agreements
in
place
WaterAllocation SeaWater
PowerOfftake Participatedinbidsforpowertie-up
ProjectCost Rs.150Bn.
ExpectedCommissioning
April2015
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JharkhandPowerProject 1620MW
StatusUpdateStatusUpdateProjectDetailsProjectDetails
,
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
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SitePhotographs:RajWestPowerLimited
PlantOverviewPlantOverview
PlantOverviewPlantOverview
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PlantOverviewPlantOverview
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.
30