Gujarat Industries Power Company Limited

1%

stMeet_Updates Date: 03" December, 2021 The General Manager Corporate Relations Department BSE Ltd. 1%t Floor, New Trading Ring Sir Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai: 400 001. The General

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ager Corporate Relations Department BSE Ltd. 1%t Floor, New Trading Ring Sir Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai: 400 001. The General Manager Listing Department National Stock Exchange of Ind

1184.4 MW

in the business of electrical power generation with the present installed generation capacity of 1184.4 MW. The company has a diversified portfolio of thermal, wind, and solar power plants in the state of

2375 MW

ting growth plan, the company has been allotted land at Great Rann of Kutch, near Khavda to setup 2375 MW of renewable energy park. This Park will be developed as a part of prestigious 30 gigawatt RE Par

30 gigawatt

a to setup 2375 MW of renewable energy park. This Park will be developed as a part of prestigious 30 gigawatt RE Park plan in the Great Rann of Kutch and the entire RE Park capacity is expected to be complet

50%

the entire RE Park capacity is expected to be completed in around five year’s time with at least 50% of the total capacity within a period of three years. The shareholding pattern of the company i

56%

n a period of three years. The shareholding pattern of the company in brief is as follows: Around 56% with promoters, 8% with the government and PSUs, 4.6% with mutual funds, 1.5% with insurance comp

8%

years. The shareholding pattern of the company in brief is as follows: Around 56% with promoters, 8% with the government and PSUs, 4.6% with mutual funds, 1.5% with insurance companies, 2.2% with

4.6%

f the company in brief is as follows: Around 56% with promoters, 8% with the government and PSUs, 4.6% with mutual funds, 1.5% with insurance companies, 2.2% with NRI, 1.7% with FPI, foreign portfolio

1.5%

s as follows: Around 56% with promoters, 8% with the government and PSUs, 4.6% with mutual funds, 1.5% with insurance companies, 2.2% with NRI, 1.7% with FPI, foreign portfolio investors, 1.1% with ba

2.2%

romoters, 8% with the government and PSUs, 4.6% with mutual funds, 1.5% with insurance companies, 2.2% with NRI, 1.7% with FPI, foreign portfolio investors, 1.1% with banks, 22% with public and othe

1.7%

th the government and PSUs, 4.6% with mutual funds, 1.5% with insurance companies, 2.2% with NRI, 1.7% with FPI, foreign portfolio investors, 1.1% with banks, 22% with public and others are 3.21%. W

“The company has a diversified portfolio of thermal, wind, and solar power plants in the state of Gujarat which includes 310-MW gas-based station at Vadodara, 500-MW Surat Lignite Power Plant at Surat, 262-MW solar power plants located at various areas of Gujarat and 112.4-MW wind power project located at various areas of Gujarat.”

“Under the growth plans we would like to inform you that the company has already commissioned its 100-MW solar PV project which was awarded by GUVNL under the competitive bidding route at Raghanesda Solar Park District, Raghanesda Gujarat effective from August 10, 2021.”

“This Park will be developed as a part of prestigious 30 gigawatt RE Park plan in the Great Rann of Kutch and the entire RE Park capacity is expected to be completed in around five year’s time with at least 50% of the total capacity within a period of three years.”

“I mean, there will be some seasonality given the renewable patterns, but ballpark, rupees 510 Crores to rupees 520 Crores for the full year and divide by four for the quarter?”

“We have spent around Rupees 70 Crores roughly in the Khavda project, from which around 50 Crores for the land and certain activities we have already started, like soil testing and we have already appointed consultants for PMC.”

“By when do you think, like we would have done let us say capex this year, next year when do we hope to see some leverage in the balance sheet?”

“Basically as per the available timelines, by the end of road project that is going to be completed by January 2022 so we have the first timeline of 50% completion by three years down the line that is 2022 January plus three years means 2025.”

“Sir, the first question is what was the under recovery due to the lower availability in H1 FY2022 and do you expect the availability to improve so that you’re under recovery becomes zero by FY2022 for all the thermal power plant?”

“Secondly on the 100 MW, which was commissioned in August 2021 what are the capital cost and what is the kind of PLF we expect from this particular power plant and what are the the loading ratio?”

“Going forward do we expect more of investments in renewable or completely renewable and is there any target capacity, which you have in mind over the next four to five years, is the number which you have in mind that I want to achieve so and so number?”

K.K. Bhatt

66

Pawan Nahar

22

Dhruvesh Sanghvi

18

Apoorva Bahadur

11

Vaibhav Badjatia

10

Mohit Kumar

7

S.N. Purohit

5

Anuj Upadhyay

4

A.S. Thakkar

2

MANAGEMENT

1

MANAGEMENT

SHRI K.K. BHATT - GENERAL MANAGER & CHIEF FINANCIAL OFFICER - GUJARAT INDUSTRIES POWER COMPANY LIMITED SHRI S.N. PUROHIT - CHIEF GENERAL MANAGER (RENEWABLE ENERGY AND BUSINESS OPERATIONS)– GUJARAT INDUSTRIES POWER COMPANY LIMITED SHRI A.S. THAKKAR - COMPANY SECRETARY AND COMPLIANCE OFFICER – GUJARAT INDUSTRIES POWER COMPANY LIMITED

A.S. Thakkar

Thank you Mr. Modi. A very good afternoon and a warm welcome to our valuable investors and analysts from the GIPCL Management team. As such, you all would be aware about the company, however, I would like to brief on the same. GIPCL was incorporated in 1985 as a Public Limited Company and is having its registered office at P.O. Ranoli, Vadodara 391 350, Gujarat, India, and the company has been promoted by Gujarat Urja Vikas Nigam Limited (GUVNL), Gujarat State Fertilizers and Chemicals Limited (GSFC) and Gujarat Alkalies and Chemicals Limited (GACL). The company’s equity shares are listed on BSE and NSE and the company is engaged in the business of electrical power generation with the present installed generation capacity of 1184.4 MW. The company has a diversified portfolio of thermal, wind, and solar power plants in the state of Gujarat which includes 310-MW gas-based station at Vadodara, 500-MW Surat Lignite Power Plant at Surat, 262-MW solar power plants located at various areas of

Pawan Nahar

Thank you. Bhatt Sir thank you. This time the generation data was on the website immediately after the results, where we can see and understand. The first question I have is on the renewable business. I am trying to understand what would be our normal EBITDA from the renewable segment after commercialization of the new capacity and if I have my numbers right ballpark we would have invested about 2000 Crores in renewable. So, if you can just give some sense of the likely EBITDA? Would it be close to Rupees 280 Crores, would it be more, some number?

K.K. Bhatt

Thank you Mr. Pawan. Basically if you ask me right now the EBITDA level of RE Division is around 200 Crores to 210 Crores but by adding the capacity of 100 MW yearly EBITDA would be hovering around rupees 260 Crores to rupees 270 Crores roughly.

K.K. Bhatt

Rupees 210 Crores plus rupees 60 Crores that means from RE EBITDA would be around rupees 270 Crores and Thermal Division it would be around rupees 250 Crores. The company as a whole EBITDA would be around rupees 510 Crores to rupees 520 Crores.

Pawan Nahar

Rupees 510 Crores to rupees 520 Crores. That is useful. Generally this we should assume as a new normal, so ballpark about rupees 130 Crores should be the run rate from now on, ballpark? I mean, there will be some seasonality given the renewable patterns, but ballpark, rupees 510 Crores to rupees 520 Crores for the full year and divide by four for the quarter?