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Cover Story | August 2014

Power 20:20 | Adani Power Ltd

Highest growth generation company in the last year (private company - thermal power) : Adani Power Ltd

The power business of Adani Group has witnessed several achievements as well as challenges since its inception and yet the journey continues on the chosen path. The recent times have been very eventful. Many lessons have been learnt, initiatives taken and benchmarks established. The current scenario in the power sector and the company´s long term plans present several challenges. However, Adani Power is committed to re-energised actions and further refined competencies to meet them. Adani´s Mundra Thermal Power Project was conceived to provide power for the captive consumption of APSEZ in Mundra. Thereafter the vision and the capabilities of the promoters has made the Mundra Power project one of the largest single location coal based thermal power stations in India and one of the top five in the world. All the nine units of Mundra power plant have been commissioned one after the other in the shortest possible time of 33 months.

Key Success Factors

  • Generation capacity: Recently, the company announced the commissioning of the fourth unit of 660 MW at its power plant at Tiroda in Maharashtra, thus emerging as the largest private power producer in India with an overall installed capacity of 8,620 MW. This is an important milestone in the history of Indian power generation as Adani Power Ltd has added 2,640 MW in the last financial year, accounting for nearly 15 per cent of the overall capacity addition of about 17,000 MW in the country. The company has commissioned two 660 MW units in the first quarter, one 660 MW unit in third quarter and one 660 MW unit in fourth quarter of FY14, two each at Tiroda in Maharashtra and at Kawai in Rajasthan.
  • Fuel supply: Adani Power Maharashtra & Adani Power Rajasthan have signed a memorandum of understanding (MoU) with Mahanadi Coalfields for supply of domestic thermal coal of 3.4 mmt each.
  • CERC order: The company has received favourable orders from Central Electricity Regulatory Commission (CERC) and Maharashtra Electricity Regulatory Commission (MERC) for compensatory tariff over and above power purchase agreement (PPA) tariff. Sales & PLF: APL sold 11.8 billion units of power in Q4FY14 as against six billion units in Q4FY13.
  • Fuel cost: APL´s fuel cost remains high at Rs 2.36 in Q4FY14 vs. Rs 2.2 in Q4FY13. Fuel cost/unit continues to be high with supply of Bunyu and CIL are expected to be lower respectively.
  • Financial performance: The company´s revenue was up 217 per cent year-on-year to Rs 59.9 billion. Revenue was higher due to higher generation on commissioning of units of Tiroda & Kawai plants.
  • Adani Power has added 2,640 MW of capacity; 15 per cent of India´s overall power capacity addition in FY14.
  • The company´s installed capacity now stands at 8,620 MW. Adani Power is the largest private power producer in India.
Parameter Details
Company Adani Power Ltd.
Ownership Public Limited
Company
Industry Energy
Founded 1996
Headquarters Ahmedabad
Products Electricity Generation,
Transmission, &
Energy Trading
Revenue Rs. 15,954.40 cr

Key financial parameters FY 2013-14 FY 2012-13
Income Rs. 15,768.08 cr Rs. 6,868 cr
Expenditure Rs. 11,095 Rs. 8,413 cr
Operating profit Rs. 4,672 cr Rs. 194 cr
Interest Rs. 4,010 cr Rs. 1,739 cr
Depreciation Rs. 2,218 cr Rs. 1,138 cr
PAT Rs. 290.55 cr Rs. 1,952 cr
EPS Rs. 1.04 Rs. 8.16

Capacity added during last one year
Current capacity
(MW)
Capacity added in last one year
(MW)
Number of units
(BUs)
8,580 660 (Tirora Ph-Ii, Maharashtra) 43,799.3
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