Torrent Power Limited has informed the Exchange about Investor Presentation
POWER
September 21, 2021
To, Corporate Relationship Department BSE Limited 141h Floor, P. J. Towers, Dalal Street, Fort, Mumbai-400 001 SCRIP CODE: 532779
To, Listing Department, National Stock Exchange of India Limited "Exchange Plaza", C - 1, Block G Sandra- Kurla Complex, Sandra (East), Mumbai 400 051 SYMBOL: TORNTPOWER
Dear Sir/ Madam,
Re: Investor Presentation
Please find attached herewith Investor Presentation on execution of Share Purchase Agreement between Torrent Power Limited, CESC Limited, Haldia Energy Limited and Nominal Shareholders (the Sellers) and Surya Vidyut Limited (the SPV) for acquisition of 100% of the share capital of SPV.
Thanking you,
Yours faithfully,
For Torrent Power Limited
~ c -~ · RahulShah Company Secretary & Compliance Officer Encl: As above
Regd. O ffice : "Samanvay", 600, Tapovan, Ambawadi, Ahm edabad - 3800 15, Gujarat , India Phone: 079-26628300 www.torrentpower.com
TORRENT POWER LIMITED CIN : L3 I 200GJ2004PLC044068
E-mail:cs@torrentpower.com
Torrent Power Limited
ACQUISITION UPDATE
21st Sep 2021
ACQUISITION DETAILS - 156 MW WIND POWER PLANTS
Investment Metrics
Total Consideration
FY21A 790
FY23E 790
Price/Book ratio EBITDA EV/EBITDA
1.05x 95 8.1x
0.9x 116 6.6x
Remarks Equity: Rs. 291 Cr; Debt Enterprise value Rs. 765 Cr + CCE: Rs. 25 Cr
: Rs. 475 Cr;
i.e.
Book Value: Rs. 277 Cr (excl CCE)
Salient features: • More than 60% PPAs with GUVNL with average tariff of Rs. 4.09/unit; • Cash accretive on consummation & EPS accretive from FY23;
Upside: • Optimisation of capital structure;
KEY OPERATIONAL PARAMETERS:
Particulars
Capacity
Balance Useful Life
Tariff
Total
156 MW
~20 years
4.68/unit
Project Cost
Rs. 6 Cr / MW
Remarks
96 MW with GUVNL, 36 MW with MP & 24 MW with Rajasthan discom
Weighted average of all PPAs
O&M Contractor
IWSL
Inox Wind Infrastructure Services Limited
O&M Exp.
Receivables
PAF
PLF exp.
Rs. 11.2 lacs/ MW
~4.5 mth
As on 31.03.2021
85.0%
21.2%
4 years actual average
From FY23 onwards, 4 years actual average 17.4%
y through: Justification of projected PLF: Focusing on improvement of plant availability through: Justification of projected PLF: Focusing on improvement of plant availabilit y through: y through: Justification of projected PLF: Focusing on improvement of plant availabilit Justification of projected PLF: Focusing on improvement of plant availabilit
•
•
Improved O&M practices & preventive maintenance at par with existing plants;
Improvement in generation by addressing ROW issues;
THANK YOU
Contact details: Rishi Shah Torrent Power Limited “Samanvay”, 600 Tapovan, Ambawadi, Ahmedabad 380015 Ph. No. (079) 26628473 Email: IR@torrentpower.com