Adani Enterprises Limited Investor Presentation Thinking Big Doing Better July 2018 Legal Disclaimer
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Adani Enterprises Limited Investor Presentation Thinking big Doing better July 2018 Legal Disclaimer Certain statements made in this presentation may not be based on AEL assumes no responsibility to publicly amend, modify or revise any historical information or facts and may be “forward-looking forward looking statements, on the basis of any subsequent statements,” including those relating to general business plans and development, information or events, or otherwise. Unless otherwise strategy of Adani Enterprises Limited (“AEL”), its future outlook and stated in this document, the information contained herein is based on growth prospects, and future developments in its businesses and management information and estimates. The information contained competitive and regulatory environment, and statements which herein is subject to change without notice and past performance is contain words or phrases such as ‘will’, ‘expected to’, etc., or similar not indicative of future results. 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The information contained in this contains translations of certain Rupees amounts into U.S. dollar presentation, unless otherwise specified is only current as of the date amounts at specified rates solely for the convenience of the reader. of this presentation. 2 Contents Adani Group Company Profile AEL: Coal Mining & ICM Adani Gas Ltd Adani Wilmar Ltd Mundra Solar PV Ltd Others Carmichael Mine, Australia 3 Nation Building - Responding strategically to some of India’s profound challenges One of the global growth Rising middle class Estimated to be the engines of the 21st century, places increasing world’s 5th largest Availability of cost ranking high on many macro- demand on consumer market by effective engineering economic indicators infrastructure 2025 resources Rising Energy Needs Growing Infra Requirements Increasing Power Demand Food Safety • Indian economy to remain • 90% of the volume and 72% • ~70% of electricity is • India has among the highest heavily reliant on Coal of total value of country’s generated from thermal food losses in the world international trade is power which will continue • The key driver of coal through maritime transport over the next two decades • Stagnant oil seed demand is the power sector production and rising edible • Shipping Ministry estimates • In 2015, as per IEA, World oil demand is increasing Indian Ports will need to Energy Outlook, over 240 import dependency have capacity to handle 2.5 million Indian citizen had no bn MT cargo by 2025 access to electricity • Resources: Obtaining coal • Logistics: A large network • Energy: Conventional and • Agri: Agri products & from mines and trading; in of ports, Special Economic Renewable Power infrastructure future it will also include oil Zone and multi-modal generation, transmission, and gas. logistics – rail and ships Solar PV manufacturing and • Adani’s coal operations will gas distribution account for ~20% of India’s • Adani Ports will handle ~20% • Adani’s power generation will • Adani will cater to 25% of projected coal requirements of the total cargo at Indian represent ~5% of India’s India’s edible oil demand by by 2021 Ports by 2021 projected capacity by 2021 2021 4 The Making of India’s Leading Infrastructure Group 1988 1995 2002 2009 2018 Coal Trading Started a Commenced Among the largest (1999) Coal traders in the Commodity world Trading ICM Gautam Adani Business Chairman Awarded India’s 1st MDO (2006) Acquired Carmichael Adani Acquired Bunyu coal mine Australia (2010) Enterprises listed Coal Mine Indonesia (2008) (1994) Mining operations in India, Indonesia Coal Mining & Australia (MDO) Mundra Port Commenced 1995 (1995) 50: 50 JV with Wilmar International Commissioned (2000) Solar PV plant at Mundra (2017) Grain Silo Depot 2002 commissioned at 7 locations (2007) Solar Mfg Adani Power 1st CNG Station Adani listed (2009) Ahmedabad Awarded Grain Storage Ports (2004) business from MP state listed (2007) “Fortune” Largest Food 2009 1st transmission FMCG brand in Commissioned first India unit (2009) line commissioned (2009) Worlds Largest JV with Single location Indian Oil Agro Corporation Acquired Solar Power Plant Presence Dhamra Port (2014) Acquired 1,200 MW Listed (2015) (648 MW) (2016) in 13 cities (2014) Udupi Thermal Power plant (2015) Acquired GMR and Reliance Transmission Project pipeline To be Lines (2016) > 2GW listed (2018) 2018 Operates 10 ports/terminals Bangladesh PPA To be Signed (2017) BSES acquisition (2017) listed (2018) Adani Gas Adani Ports Adani Power Adani Transmission Adani Green Energy Adani Green Energy = will be demerged from AEL w.e.f from 1st April 2018 FMCG = Fast-moving consumer goods All business in green colour in Adani Enterprises Limited 5 Adani Group – At a Glance Largest private sector ports, thermal power, transmission, renewables and coal trading player in India 180 MMT ~15% of India’s EXIM trade 10,440 MW ~5% of India’s Thermal Generation Capacity 2,500 MW ~4% of India’s Renewable Generation Capacity 11,890 Ckt Km ~3% of India’s Transmission Network Promoter Promoter Promoter Promoter Promoter Promoter Group Group Group Group Group Group 74.9% 63.6% 73.1% 74.9% 86.9% 74.9% Adani Enterprises Adani Ports and SEZ Adani Power Adani Transmission Adani Green Energy Adani Gas –Integrated coal –India’s largest –India's largest private –India’s largest –Renewables –Leading Private management commercial ports thermal power private transmission Capacity: 1.9 GW Sector CGD operations operator and generation Co with Co operational, 1.2 GW Company in India –Over 50% market integrated logistics installed capacity of –Installed Capacity under pipeline –Focussed Pure Play share in coal (66 Company 10,440MW 5,000ckt KMs; –Solar: 90%, Wind: Gas Marketing and MTPA) –Market share of ~15% –A national record: doubling by 2019 10%(3) Distribution –Leading Coal MDO in India’s cargo Mundra thermal plant –SPA signed in Dec –Geographically company player in India –10 Ports across West running continuously 2017 to acquire BSES diversified portfolio –Operational in 4 for 600 days –Agro commodities and and East Coast Electricity –Tamil Nadu 648 MW cities storage, ‘Fortune’ - –Multi-modal logistics –Signed PPA with Govt distribution (c. 3 mn : World’s largest –IOAGPL – 50:50 JV of B’desh in 2017 for consumers) India's leading cooking –Mundra SEZ (8481 single location solar with Indian Oil oil brand 1.6 GW ultra super- –Rated Investment plant Corporation with ha) critical thermal power –India’s largest solar Grade by Moody’s, –Quality operations in 9 cities –Rated Investment project (COD 2022) S&P, Fitch panel and cell Grade by Moody’s, Counterparties: manufacturer (1.2 GW S&P, Fitch SECI – 28%, p.a.) NTPC - 17% Revenues EBITDA Revenues EBITDA Revenues EBITDA Revenues EBITDA Revenues EBITDA Revenues EBITDA ₹ 37,984 Cr ₹ 3,002 Cr ₹ 12,334 Cr ₹ 8,073 Cr ₹ 21,093 Cr ₹ 6,174 Cr ₹ 3,239 Cr ₹ 2,937 Cr ₹ 1,078 Cr ₹ 857 Cr ₹ 1309 Cr ₹374 Cr Total Debt Total Assets Total Debt Total Assets Total Debt Total Assets Total Debt Total Assets Total Debt Total Assets Total Debt Total Assets ₹ 17,915 Cr ₹ 43,615 Cr ₹ 21,433 Cr ₹ 47,375 Cr ₹ 52,835 Cr ₹ 69,523 Cr ₹ 10,009 Cr ₹ 17,265 Cr ₹ 9,280 Cr ₹ 13,280 Cr ₹348 Cr ₹1,311 Cr Market Cap: ₹ 14,776 Cr Market Cap: ₹ 76,731 Cr Market Cap: ₹ 7,039 Cr Market Cap: ₹ 16,634