~~ RP- Sanjiv Goenka , ~ Group
CESC Limited Powering India since 1899
November 2019
1 ~~ RP- Sanjiv Goenka , ~ Group
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2 ~~ RP- Sanjlv Goenka , ~ Group RP- Sanjiv Goenka Group
CESC Ltd Fully Integrated Private Power Utility RP-Sanjiv Goenka Group is a well known diversified business house in India Phillips Carbon Black RP-Sanjiv Goenka Group has interests across diverse India’s largest Carbon Black Manufacturer Phillips Carbonf Black Limited Ltd business sectors - Power & Natural Resources, Carbon Black, IT & Education , Retail, FMCG, Media & spencers Spencer`s Retail Ltd 3rd Largest Hypermarket Chain Entertainment and Infrastructure Makes fine living a{fordab/.e
Power Generation and Distribution contribute a majority of the Firstsource Solutions revenues of RP-SG Group Top 3 Pure Play BPO Player firstsource· Ltd Stay Ahead
Employees 45,000 + Shareholders 5,00,000 + Saregama India Ltd Largest Collection of Indian Music Gross Assets ~Rs. 43,500 cr Revenue ~Rs. 25,500 cr t I EBITDA ~ Rs. 5,000 cr + PAT ~Rs. 2,000 cr soul of India Harrisons Malayalam Tea and Rubber Plantations Ltd Dr. Sanjiv Goenka is the principal shareholder of the RP-Sanjiv HARR/SONS MALAYALAM UMITED Goenka Group together with other Group companies Guiltfree Industries Ltd Fastest Growing FMCG Company
3 ~~ RP- Sanjiv Goenka Indian Power Sector - Overview , ~ Group
All India Installed Capacity Power availability & deficit All-India installed capacity at the end of FY1 8 All-India installed capacity by FY 23 (billion units) (% )
■ Natural Gas ■ Hydro ..11%. 1,800 0.9% 6% 1,631 ---- ■ lignite 1,600 2% r·-1 !·-·1 0.6% 1,400 1,197 ,··1 I , ■ Nudear 1,200 r ··7 I . I 0.3% ■ tignite 2% I , I , 2% : ! 1,000 ! :o.o% 1 I 0.0% Coal ■ Nuclear 56% ■ Solar 800 , I 345 GW 2% Coal 430 GW 15% I I , 49% 600 . I -0.3% 400 ! ~ .6%' 0.7%1 -0.6% 200 ■ Wind ■ Wind 10% 11% -0.9% FY18 FY19 E FY20 F FY21 F FY 22F FY23 F
- Energy Availab~ity(BU) -+-Deficit (RHS)
ACS-ARR GAP Coal Based PLF’s – to rise steadily ( % ) 74% Without Subsidy I 6.38 6.33 For UDAY states 7 0-72% I • - • - • - • - • - • - • - • - • _. (mWh) 72% 0.7 - Reduction by Rs. 0.42 per kwh 5.19 5.23 0.59 7 0% 5.03 0.6 68%
0.5 66%
0.4 64%
0.3 62% 0.2 60% 0.1 58% 0 56% FY 13 FY 14 FY 15 FY 16 FY 17Ap FY 18Ap FY 19Ap FY16 FY17 FY18 54% --<>-ACS --0-ARR FY1 8 FY19 E F Y 2.0 F FY21 F FY22F FY23F
Source: CEA, CR/SIL Research 4 RP- Sanjiv Goenka Grou p Indian Power Sector - Outlook
Outlook on Power Demand (6.3% CAGR growth)
(ibillion units) 1,800 I G.3% CAGR 1630-1650 Factors influencing future power demand 1,600 ,··-, 1,400 1,205 r ··-7 ·- ·7 1,2 00 1,000 GDP Growth 800 600 400 Capacity expansion 200
FY18 FY19 E FY20 f FY21 F FY22 F FY23f Power for all , 24*7 availability
Outlook on Per Capita electricity consumption Intensive rural electrification
(kWh) 1,600 1,450-70 1,4 00 ······'° ...... Govt. drive for ( make in India) and large scale 1,122 1,14 9 1,200 1,075 ...... 1,0 10 957 1,000 914 infra (smart cities, DFCs, Metro Rail projects) V"' 800 600 Rising penetration of electric vehicles 400
200
T FY13 FY14 FY15 FY1 6 FY17 FY18 FY19 E FY20 F FY21 F FY22 F FY23 F
Source: CEA, CR/SIL Research 5 ~~ RP- Sanjiv Goenka , ~ Group
CESC - POWER BUSINESS GENERATION & DISTRIBUTION
6 OPERATIONAL FACILITIES -OVERVIEW ~~ RP- Sanjiv Goenka , ~ Group
Renewables Kolkata Distribution Business Independent Power Plants
600 MW thermal power plant in Coal Mining, Power Generation & Chandrapur, Maharashtra Noida Distribution Distribution (Project cost Rs. 38 billion) -1125 MW thermal power plant - 567 sq km area 600 MW thermal power plant in -335 sq km area - 3.3 mn consumers Haldia, West Bengal -Consumer Base-82231 - 21,866+ ckt km of network (Project cost Rs. 46 billion) - entire output to CESC - 25 yrs of operation
- Regulated business Renewables Distribution Franchisee Distribution Franchisee 24 MW Wind power plant, Rajasthan in 3 cities (Rajasthan) 26 MW Wind power plant, Gujarat Kota and Bharatpur & Bikaner – 18 MW Solar Power Plant in Tamil Nadu – All operational 36 MW Wind power plant in Mandsaur, Madhya Pradesh Malegaon (Maharashtra) – 70 MW Wind Power plant in Gujarat operations expected to start soon
7 RP - Sanj iv Goenka CESC LIMITED Group Recent key achievements r.,rsfteq Urn • S..C. lltl
Significant rise in Consolidated PAT PAT FY 19 – Rs 1184 cr FY 18 – Rs 912 cr - All time high EPS ~ Rs 90 (Consol) FY 17 – Rs 690 cr
First time PBDT +ve for Chandrapur project in FY’19
Budge Budge & Haldia amongst TOP TEN performing power plants in the country
Marked improvement in T&D Loss FY 19 – 8.96% FY 18 – 9.65% - Reduction of 20% over last 3 years FY 17 – 11.09%
Highest ever export of power in FY’19 ~ 700 MU ( 10% growth)
Highest ever system demand (Kolkata distribution) - 2337 MW (JUNE 2019)
Highest ever Dividend in FY’19 of 175% ( payout ~ 30% )
Now CESC – a pure power play utility with Pan-India presence in Generation & Distribution 8 ~~ RP- Sanjiv Goenka , ~ Group Financial Performance of key subsidiaries Rs. crore Revenue EBIDTA PAT PAT PAT PAT FY`18-19 FY`18-19 FY`18-19 FY`17-18 HY’ 1 (19-20) HY’ 1 (18-19)
CESC Ltd (Standalone) 7919 2093 937 861 492 455
CESC Ltd (Consolidated) 10868 3660 1184 912 596 535
Haldia Energy Ltd 2293 969 324 313 167 172
Dhariwal Infrastructure Ltd 1181 366 (93) (199) (49) (87)
Crescent Power Ltd & 310 208 54 52 20 37 Renewables Noida Power 1546 289 140 100 92 61
Kota/Bharatpur/Bikaner 1477 (23) (60) (120) (56) (58)
9 ~~ RP- Sanjiv Goenka , ~ Group Distribution Overview
Rajasthan – City/ (KOTA, Kolkata Noida Malegaon Location Bharatpur, Bikaner)
Distribution Input based Input based Bikaner 0 0 Noida Licensee Licensee 0 Bharatpur Contract franchisee franchisee
Kota 0
0 Kolkata Area 567 sq. km 335 sq. km 381 sq. km 25 sq. km
Malegaon 0
Consumer 33 lakhs 82 Thousands 4 lakhs 1 lakhs Base
Peak Load
3,000+ MW Peak Load 2300+ MW ~400MW 400+ MW ~150 MW
10 RP- Sanjiv Goenka CESC ~~ Overview of CESC - Kolkata Distribution Business LIMITED , ~ Group India’s oldest electricity utility, operating since 1899- 120+ years of experience Engaged in Coal mining, Generation and Distribution of electricity to city of Kolkata & adjoining areas Almost entire energy requirement met from own / subsidiary’s generation, meeting peak demand of 2300+ MW CESC Regulated Business – Generation 1125 MW Distribution
Budge Budge Generating Station(3x250MW) 567 sq.km. area, 3.3 mn consumers Southern Generating Station(2x67.5MW) Peak demand 2337 MW Titagarh Generating Station(4x60MW) Units sold >9,700 MUs
Assured post-tax equity return , efficiency parameters better than regulatory norms
Customer centric approach, best in class digital penetration, implementation of State-of-the-art technologies
Continuous upgradation of distribution infrastructure to enhance quality, reliability and reduce downtime & overloads
Board represented by independent directors and professionals
Shares Listed on BSE , NSE and Kolkata. Access to International Equity & Debt market
External credit rating Long Term “AA” (high safety) and Short Term “A1+” (highest safety) 11 RP- Sanjiv Goenka Group Kolkata distribution : B2C Business
Integrated Fault 3.3m 6 Regions Customer Mgmt. Consumers / SBUs Care Sys
.•...... • Sales (license area) – 9700 MU+ • 10 Mains .: CRM .: • World-class ········r······' o LT – 69% District Control Centre , ...... • . . HT – 31% • 73 . 10 Mains . • SCADA & o . . Commercial . Districts . Analytics • Export ~ 700 MU districts ...... i···········' (Meter ., ...... •. . Fault . Reading & . . . Restoration . Billing) .: .: ...... Team ~
12 ~~ RP- Sanjiv Goenka , ~ Group Delivering Customer service across the electricity value chain
Network Technology Reliability Innovations
Generation Transmission Distribution
Smart outage Complaint management 16.5KV 400,220KV 33,11KV 440V/220V Management
Smart Metering Virtual office
13 RP- Sanjlv Goenka CESC LIMI T ED Group Initiatives for Fault Prevention & Rapid Restoration
SCADA & Analytics Planning Tools GIS AMR for DTs
Distribution Station Tool
• Dynamic ~nked short listing critem baind onloitding, (N•1).fifult1, Mflsiti¥ity1tc. DTR Tool
• O.biled1v1l~tionN>dr.nkingofDS's • Dyn..,..ic ~nlr.ltd short listing cmmi b,H To monitor overloads For identifying need- For creating assets at To optimally load DTs and identify repetitive based capex, plan load right places & route faults transfers & redundancy maps Condition Based RMUs with FPIs & Modified PBs LT Control Room Monitoring & Mtc their Automation For proactive For eliminating spurious Optimize vehicle & crew To isolate HT faults and maintenance fusing management for fast restore supply rapidly restoration 14 ~~ RP- sanjiv Goenka ~~ Group ~ ~~ ,~~ Leadership in Technology and Innovation [fff&l1iltt lhH • S.. lffl Integrated SS at New Cossipore Compact 33 kV Distribution Underground 132 kV SS at with 220, 132 & 33 kV GIS Station `Quest Mall’ OP® WER SilverSpr~~~Z? (® NETW ~ Transforming the way Utilities relate to their INNOVARI customers AMI with approx. 25,000 Smart 1.5 MW Demand Response project with u nJ O eking customer· Engageme rn t Meters ( and a few RMUs) both Demand Side management and DER with o igita I Platforms integration 15 RP- Sanjiv Goenka ES Group Web Services Mobile SERVICE Apps Improving Consumer Experience with superior customer service SMS Services New Connection Applications 48.5% 24x7 Call Centre of Bills paid 100% online Online Branding / ~ eBuddy fl CTSC's Digital Assistant Hey, I am eB uddy and would be Communication – happy to help you with the following Services: Web chat etc tod ay 2.12pm (_ Monthly Bi, Info/Payment) ( Latest Payment status) Enriching Consumer ( View Dupicate Bi ) Experience ( ~onnecbon/Addl Load/Shblg Of ) 0 ( Name Change) ( Complarlls/Re(JJesls) ( Repo Im _ Got a question ? 16 ~~ RP- Sanjiv Goenka Awards & Recognitions , ~ Group Dun & Bradstreet Infra Awards Best Distribution Company Budge Budge TPP 9th CII national HR Awarded as the excellence awards Gold Winner at the 2018-19 Global Leadership in HR Environment Excellence Recent Award Recognitions CII-Exim Bank 11th ENERTIA Award for Awards 2017 Business ‘Best in Class’ – Excellence 2017 Urban Utility CBIP Award “Significant 2019 Achievement” “Best Performing Power Distribution Utility” CESC won the ‘Smart Grid Project of the Year’ award at the Asian Power Awards for its programme with Silver Spring Networks Corporate Headquarter- “CESC House” is the First Heritage Building in India to get a LEED Gold rating from the United States Green Building Council (USGBC) under Existing Building category 17 ~~ RP- Sanjiv Goenka , ~ Group CESC Standalone Financials Sales (MU) Revenue (Rs. bn) 10350 10390 79 79 74 9446 9549 69 9034 8651 8733 62 8443 54 56 48 I I FY`12 FY`13 FY`14 FY`15 FY`16 FY`17 FY`18 FY`19 FY`12 FY`13 FY`14 FY`15 FY`16 FY`17 FY`18 FY`19 Including power export Financial nos. from FY’16 compiled under IND AS T&D Loss (%) PLF%(Budge Budge) 12.3% 12% 11.79% 11.76% 90% 91% 92% 92% 11.55% 11.09% 88% 89% 88% 9.65% 83% 8.96% FY`12 FY`13 FY`14 FY`15 FY`16 FY`17 FY`18 FY`19 FY`12 FY`13 FY`14 FY`15 FY`16 FY`17 FY`18 FY`19 18 ~~ RP- Sanjiv Goenka , ~ Group CESC Standalone Financials PBT (Rs. Bn) Long Term Debt / Equity Ratio 11.94 0.8 0.7 10.46 10.99 11.02 0.7 0.6 0.6 0.6 0.6 8.83 7.73 8.25 0.6 0.5 0.5 0.5 6.93 0.5 0.4 0.3 0.2 0.1 0.0 FY`12 FY`13 FY`14 FY`15 FY`16 FY`17 FY`18 FY`19 FY`12 FY`13 FY`14 FY`15 FY`16 FY`17 FY`18 FY`19 Financial nos. from FY’16 compiled under IND AS EPS (Rs.) Dividend History 175% 80 71 70 64 65 66 60 52 54 50 120% 50 45 100% 100% 40 90% 80% 30 70% 20 50% 10 0 FY`12 FY`13 FY`14 FY`15 FY`16 FY`17 FY`18 FY`19 FY`12 FY`13 FY`14 FY`15 FY`16 FY`17 FY`18 FY`19 Financial nos. from FY’16 compiled under IND AS 19 RP- Sanjlv Goenka Noida Power Company Limited Group JV with Power Procurement Distribution Area Greater Noida Started operations Dhariwal Greater Noida in Industrial December 1993 Infrastructure/ Short Uttar Pradesh Development Term/ Renewables Authority Area 335 sq.km. Population No. of consumers Peak Demand (equivalent to 7 lakh 1 Lakh appx 400+ MW Mumbai) Assured post-tax Credit rating Units sold T&D Loss equity return Long Term “AA-” 1850 MU (2019) 8.16% (2018) 16% approved by Short Term “A1+” UPERC Received Star Performance Improvement Award at ICC 5th “Innovation with Impact Award” for Discoms, 2017 20 ~~ RP- Sanjiv Goenka , ~ Group 21 t CESC ~~ RP- Sanjiv Goenka ~'1f~ l I M I T E O Group Distribution Franchisee-Kota, Bharatpur and Bikaner --,~ 7r c.. ,.,,., . u...... I ' Particulars Kota Bharatpur Bikaner ' I Area (Sq. Km.) 176 50 155 RAJASTHAN .~AN~ NU~ ,,. ' Population (Nos. Lakh) 11.76 2.52 6.44 Bl /' Consumer Count (Nos. Lakh) 2.28 0.63 1.79 I /' \ ,,. -·-- Energy Input (Million Units) 1315 265 780 I.. . 330 Km /' JAiSALM ER Units Sold (Million Units) 1016 220 639 ' 170 Km Dom. = 48% Dom. = 42% Dom. = 44% Comm. = 21% Comm. = 14% Comm. = 16% Sales Mix (%) 250 Km Indus. = 25% Indus. = 37% Indus. = 26% • Barmer Oths. = 6% Oths. = 8% Oths. = 14% BHILWARA...,, _ ' +BhitwaraBU ',,,J\ T&D Loss (%) 23 17 18 i•'f"'nd,,...,._ / ""- ,--. , Ko ♦ Bara, n, , J SAM 'Chittaurgarh1 '"h BARAN I AN; ♦ ..., J , KOT!'. , \ ..., " - .._..._r/ \ - 'C. , .... HITTA~RH-' 1 ~, • \ \ Revenue (INR Crores) 810 175 492 Uaipure J -1Jhalaw I ,. I' , JHALAWAR, Avg. Billing Rate (INR/Unit) 7.58 7.71 7.44 ( UDAIPUR \ -, ~< I l\.'--,.f1.. ' J - \1, ,' •~",...,' 1~ Dung "' ~ J --! , ,_. -pu Banswla,a DU.-n •1 Peak Load (MW) 230 50 130 "''- .... ~ - ' 8~~~RA DF Handover Date 01-Sep-2016 01-Dec-2016 16-May-2017 - • DFA signed for a period of 20 years CESC has formed three wholly owned subsidiaries in Rajasthan - • Power Procurement: JVVNL(Kota and Bharatpur), JdVVNL (Bikaner) Kota Electricity Distribution Ltd, Bharatpur Electricity Services • Quickest ever takeover on compliance; operations stabilized in a year Ltd and Bikaner Electricity Supply Limited for distributing • Current focus on commercial turn around & loss reduction power in these three cities • Introduction of Power analytics and rolling out of smart meters • Others in Sales Mix include Agriculture, PSL, and Mixed Load 22 ~~ RP- Sanjiv Goenka , ~ Group Key Interventions after Takeover Soft value enhancement for Loss Reduction Initiatives Network Reliability customers • Defective meters replaced • Centralized Command Station • New connection within a day • Regular billing for consumers • Diesel Gen Sets on stand-by for • Outage calls attended in <1 hour • Accuracy testing on High-end area with expected prolonged • Smart metering consumer meters power failures • Working hours extension • Working with local authorities to • Systematic maintenance of • Refurbishing of Distribution regularize unauthorized drawl of network assets Transformers and Pillar Box power • Reduce supply outages • Safety training for workmen • Distribution-wise Transformer • Ensure electrical safety • Behavioral training for Customer Energy Audit Care executives 23 RP- Sanjiv Goenka Group CESC Distribution – Malegaon Mumbai- Malegaon 270 Kms Distribution Area Start of operations Concession Period Power Procurement Malegaon in (expected soon) 20 Years MSEDCL Maharashtra Area No. of consumers Energy Input Energy Billed 25 sq.km. 1 lakh 900 MUs 497 MUs Nashik- Malegaon ~100 Kms Nashik - Malegaon ~100 Kms :,:_:_:_:_:_:_:_:_:_:_:_:_:_:_:_:_:_:_:_:_-_- _- _-_ -_ -_ -_ -_:-i-- ::::::::::::::::::::::::::::::::::::::::::::::::::::_:_--¾--::::::::::::::::::::::::::::--1--====== Current Distribution Min. Capex p.a. Revenue Billed Collection Efficiency Loss 1st -5th Yr: 20 Cr 322 Cr 99% 44.76% 6th – 20th Yr: 3 Cr 24 ~~ RP- Sanjiv Goenka , ~ Group Generation Overview PLF Plant Capacity Offtake Arrangement Fuel Security Generation Capacity 2539 MW FY’19 • CIL Linkage BBGS 750 MW 92 • Coal Mine • E-auction Integrated generation for SGS 135 MW 28 Kolkata Distribution • CIL Linkage Nipaniya TGS 240 MW - • CIL Linkage Crescent • Coal Washery 40 MW 94 • Short Term Supply - Power Rejects • CIL Linkage Haldia 600 MW 92 • 100% Long term PPA - Kolkata Area • E-auction • Long term PPA with TANGEDCO • CIL Linkage Madurai • Long term PPA with NPCL Dhariwal 600 MW 67 • Coal Mine • Short/Medium term PPA • E-auction • Merchant market from time to time Renewables 174 MW ~20 • 100% Long term PPA • Wind & Solar M ,ap not to srole 25 ~~ RP- Sanjiv GoenkaPower Generation – Integrated with Kolkata Distribution , ~ Group Stations Budge Budge- BBGS Assured Post Tax (3x250MW) Cumulative Capacity Equity Return Southern- SGS 1125MW 15.5% on (2x67.5MW) Normative Equity Titagarh- TGS I (4x60MW) 1985 1990 4 X 60 MW TGS commissioned 2 X 67.5 MW SGS commissioned BBGS ranks amongst Fuel security with top performing Power generated is captive coal block & thermal stations in used by CESC Kolkata coal linkages the country (CEA) 100% utilization of Exports of surplus ash in an capacity via Parameters better than Regulatory 1998 2009 environmentally exchange or bilateral Norms 2 X 250 MW BBGS Unit 1 & 2 1 X 250 MW BBGS Unit 3 friendly manner contracts commissioned commissioned 26 RP- Sanjiv Goenka CESC 600 MW Haldia Thermal Power Project, West Bengal LIMITED Group • Generating Station: 2x300 MW Thermal Power Plant • Entire capacity to CESC (Kolkata) -PPA approved by WBERC • Assured Post Tax Equity Return 15.5% on Normative Equity • Fuel Supply Agreement with Mahanadi Coalfields Limited • Presently featuring amongst top performing power plants in the country (CEA) PLF: 87.8% (FY19), Sale to licensed area: 4240 MUs (FY19) • 100% ash utilization & comprehensive waste management system • Smart analytical monitoring software for asset protection, house web based applications for performance management and maintenance efficacy • ‘Zero’ man days lost due to IR issue • External credit rating Long Term “AA-” (high safety) and Short Term “A1+” (highest safety) • Plant awarded “Global Environment Award 2016” in Platinum Category 27 ~~ RP- Sanjiv Goenka r r ~ Group 600 MW Chandrapur Thermal Power Project, Maharashtra • First Independent Power Plant of CESC • Generating Station: 2x300 MW in Chandrapur, near Nagpur • Project cost of Rs. 38 billion funded at 75:25 debt-equity ratio • Fuel Supply Agreement with South Eastern Coal Fields Limited • Received ISO certification on Quality, Environment & Health Management on 30th Mar’17 • PPA: 100 MW to TANGEDCO under long term PPA 187 MW to NPCL(approved by UPERC) 185 MW Short Term PPA Actively participating in bilateral bids for power sale and exchange 28 ~~ RP- Sanjiv Goenka , ~ Group Crescent Power • Generating Station: 40 MW AFBC based power plant • Commissioning Year: 2010 • Plant set up at CESC’s Sarisatolli coal mine pit in West Bengal & primarily based on washery rejects • Power sold to the grid • Connected to State Transmission Utility Grid Substation through 14km long Transmission System • Recently, Commissioned a 18 MW Solar PV power Project in Tamil Nadu under the Solar Power Policy of the State • Key Metrics: FY’19 • Generation : 331 MU , PLF : 94% 29 It RP-Sanjiv, Company Logo CESC LIMITED Group Renewables - Current Operations Operational (174 MW) Jaisalmer 24 MW Wind Rojmal Nipaniya 70 MW Wind 36 MW Wind Mahidad 26 MW Wind Ramnad 18MW Solar 30 30 RP - Sanjiv Goenka Group Renewables 0 One of the best portfolios in terms of tariff and returns 0 Amongst the first companies to set up a Solar Power Project at Gujarat (2010) and Tamil Nadu (2015) under the State Feed-in-tariff model Capacity Project Plant Type PPA with Type of Power Sale COD MW Dangri, Rajasthan Wind 24 JVVNL Long term PPA Mar 13 Wind Farm Site: Rojmal Gujarat. Surendranagar, Wind 26 GUVNL Long term PPA Dec 14 Mahidad, Gujarat Nipaniya, M.P. Wind 36 MPPMCL Long term PPA Mar 16 Rojmal, Gujarat Wind 70 GUVNL Long term PPA Mar 17 Neeravi, T.N.- Solar- Solar 18 TNG&DCL Long term PPA Jan 16 Wind Farm Site : Crescent Power Nipaniya, Madhya Pradesh 31 ~~ RP- Sanjiv Goenka , ~ Group THANK YOU 32