#1TATA POWER TATA TATA POWER + The Tata Power Company Limited Financial Results - Q2FY22 28th October 2021 Im ΤΑΤΑ Lighting up Lives!#2TATA POWER Disclaimer TATA This document does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any jurisdiction or as an inducement to enter into investment activity. No part of this document, nor the fact of its distribution, should form the basis of, or be relied on in connection with, any contract or commitment or investment decision whatsoever. This document is not financial, legal, tax or other product advice. This presentation should not be considered as a recommendation to any investor to subscribe for, or purchase, any securities of the Company and should not be used as a basis for any investment decision. 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Actual results may differ materially from these forward-looking statements due to a number of factors, including future changes or developments in the Company's business, its competitive environment, information, technology and political, economic, legal and social conditions in India. Given these risks, uncertainties and other factors, recipients of this document are cautioned not to place undue reliance on these forward- looking statements. In addition to statements which are forward looking by reason of context, the words 'anticipates', 'believes', 'estimates', 'may', 'expects', 'plans', 'intends', 'predicts', or 'continue' and similar expressions identify forward looking statements. 2#3S ® Q2 FY22 Business Highlights#4TATA POWER บ Mission Energy FOUNDATION KANO-fee-Profit Organisatio THE Ecossovnic Ton ESG & NET ZERO Serien SIGs SUMMIT Co-Petit SKODA VOLKSWAGEN 2021 Q2 FY 22 Highlights Tata Power Solar won 1,000 MW of Utility scale EPC orders worth ~ 3,000 crore ΤΑΤΑ LoA received for development of 580 MW of solar projects - 330 MW from RUMSL, MP and 250 MW from MAHAGENCO, Maharashtra ➤ 256 MW of solar projects commissioned this quarter; another 1.7 GW in pipeline ➤ Achieved milestone of 1,000 public EV charging stations spread across nearly 180 cities ➤ S&P Global Ratings upgrades Company's credit rating by two notches to BB (Stable) ➤ Voted as Outstanding Company in India - Utilities Sector in Asia's Outstanding Company Poll 2021 by Asia Money Trombay Thermal Power Station wins 'Environment Excellence Award - 2021' under the category 'Clean Generator of the Year 2021 Combined (Coal+Gas)' organized by Mission Energy Foundation - ➤ Ranked among the top 10 companies on sustainability & CSR responsible business ranking in the ET-Futurescape 8th Sustainability Index Report. 4#5TATA POWER Powering India's Rooftops TATA 2021/5/6 10:01 Apollo Hospital 335 kWp#6TATA POWER ~3X growth over Q2 FY21 Solar Rooftop Quarter Highlights - Order Book grows to 417 MW worth 1,184 crore ➤ 1,182 crore (416 MW) orders won in H1 with highest ever orders won in a quarter - 750 crore (264 MW) of order won in Q2 FY22 Strong growth from all segments - Residential, Industrial & Commercial Customers Installations picked up post Covid - 105 MW executed in Q2 111+ Cr worth orders financed through various schemes till H1 89 Revenue (crore) 298 TATA 147 Q2 FY 21 Q2 FY 22 Q1 FY 22 Ranked no 1 Solar rooftop EPC for 7 years in a row - Increased market share to 10% in 12 months till Jun 21 as per Bridge to India Report Customer Referral Program Employee Referral Program Customer Micro-Segments SHARE YOUR PRIDE WITH YOUR NETWORK Spread The Sunshine in your community HOW IT WORKS CONNECT REFER EARN 20,000 GET VOUCHERS WITH US UP TO 20,000/- TATA POWER SOLAROOF Be a #SolarHero Refer a friend. Refer the Sun. Earn big & Save too! T TATA बीकाना निलोरेशन Wat f fa हार्दिक अभिनन्दन। Let friends & colleagues know why and how you decided to go solar with Tata Power Start your Solar Ambassador journey at https://storce.co/2Ce2Vjp or contact your Tata Power Authorized Dealer/Channel Partner Choose from exciting reward options once your friend decides to go solar TATA POWER #SOLARHERO EARN UP TO 10,000 FOR EVERY SUCCESSFUL REFERRAL* Rice Millers Association Meeting#7TATA POWER 586 Gujarat 2784 Punjab 4383 Uttarakha Solar Pumps - Quarter Highlights ΑΑ Tata Power Solar Pump launched in 22 districts across 6 states 4x growth in revenue on YoY basis H1 FY22 revenue almost reaches FY 21 revenue on back of strong execution Revenue (in Rs crore) Haryana 2189 10303 Uttar Rajasthan Pradesh 895 1666 Assam Bihar 20958 Maharashtra 23 Telangana 58 425 Andhra Kamatake Pradesh 32 4316 West Jharkhand 2467 Chhattisgarh Bengal 1428 Odisha Pumps installed till 30th Sep ~53,000 51 Q2 FY21 3,214 205 Q2 FY22 No. of Pumps Installed 8,277 140 Q1 FY22 7,420 Q2 FY21 Q2 FY22 Q1 FY22 TATA TATA POWER SOLAR PUMP क्षितिज TATA POWER SOLAR PUMP क्षितिज UMP TATA POW TATA क्षिति F#8TATA POWER Kshitij - Launch of Tata Power branded Solar Pump A new horizon क्षितिज A New Horizon The Retail Launch of Tata Power Solar Pumps in Delhi TATA सदर और शानदाराला भारत का सबसे भरोसेमंद TATA POWER SOLAR PUMP • उत्तम गुणवत्ता • यूनतम स्वरा सुबह से शाम तक चलने की क्षमता • • टाटा द्वारा आईईसी प्रमाणित मोड्यूल TATA POWER क्षितिज A New Horizon TATA TATA POWER SOLAR PUMP MODULE MOUNTING STRUCTURE FOR SC • एमपी 2 एचपी 3 एचपी 3 एचपी, एचपी और 10 ए जमे उपल A step towards becoming a Market Leader in Solar Pumps business TATA POWER OLAR PUMP रो साचो मित्र#9All-round performance in Solar EPC TATA POWER WELL DIVERSIFIED UTILITY ORDER BOOK Customer Tata Power Group NTPC Brookfield GSECL Vibrant NHPC SECI Total Capacity as on 30th Sep 21 Order Book as on 30th Sep 21 (* Cr) AC Capacity (MW) 1,220 1,090 300 130 45 40 7,257 20 2,845 9,264 ➤ 1 GW of Utility Scale EPC orders won in Q2 ➤ Awarded with India's First Ever Large Scale 50MWh Battery Energy Storage System co-located with 50 MWp Solar PV plant, EPC project of 386 crore at Leh, Ladakh ➤ Won another 100 MW EPC order of 538 crore for multiple Distributed Ground Mounted projects for EESL (not included in large scale utility project order book above) TPSSL - LARGE EPC ORDER BOOK (CRORE) 3,001 9,264 (994) ΤΑΤΑ 9 Order book at end of Q1 Orders recd in quarter Recognized as Revenue in Q2 Order book end of Q2#10- Kayamkulam floating solar project – testimony to TPSSL's varied execution capability Inverter Ferro cement Platform completion Equipment Erection on Platform Anchoring of floater in water#11TATA POWER Tata Power EZ Charge EV Charging Platform Statistics 2700+ Registered Users 27 Lacs+ mins of Charging 5 EV Charging Business Highlights 1,600 home chargers installed in Q2. Cumulative installation till date - 5458 32 eBus Charging Points installed in Q2. Cumulative installation till date -158 TATA 780K+ kWh of Charging 7mn+ km of e-mobility 70K+ Charging Sessions TVS X TATA POWER MoU signed with TVS Motor Company to collaborate on electric two-wheeler charging eco-system in India Tie up with Lodha Group to provide EV charging solutions at its projects in Mumbai & Pune 252 EV charging points installed in Q2. Cumulative installation till date - 878 Spread Across 178 (+66) Cities#12TATA POWER EZ CHARGE TATA TATA POWER SOLAROOF TATA TATA POWER Institutional Investor 2021 ASIA EXECUTIVE TEAM 1000 EV Charging Stations and Counting! + -1 # by a margin again in Rooftop Solar Segment Greater than 2X share of market vis-a-vis nearest competitor Leading India's journey to a Solar Economy TATA POWER HAS ACHIEVED ALL-STAR STATUS IN THE 11th Institutional Investor's All-Asia Executive Team (Ex-Japan) 2021 Rankings TATA POWER COUNTRY'S LARGEST EV CHARGING INFRASTRUCTURE SOLUTIONS PROVIDER *As per Bridge to India-Solar Rooftop June 2021 Report Q2 FY22 Financial Highlights TATA TATA POWER#13TATA POWER Fig in Cr Q2 FY22 Financial Highlights Strong all round operational performance; despite high coal prices for CGPL, PAT up by 36% Reported EBITDA Underlying EBITDA (Including Share of PAT (before exceptional items) TATA JVs & Associates) Q1 FY22 Q2 FY22 Q2 FY21 Q1 FY22 Q2 FY22 Q2 FY21 Q1 FY22 Q2 FY22 Q2 FY21 2,365 1,732 2,276 2,731 2,355 2,472 466 506 371 -27% -24% -14% -5% +9% +36% CGPL & Coal Cluster - Net Profit before Renewables EBITDA one offs Q1 FY22 Q2 FY22 148 79 Q2 FY21 39 Q1 FY22 Q2 FY22 643 707 Q2 FY21 599 -46% +103% +10% +18% Receivables Net External Debt Q1 FY22 6,031 Q2 FY22 6,347 Q2 FY21 4,504 Q1 FY22 39,649 Q2 FY22 39,719 Q2 FY21 37,347 13#141,500 TATA POWER Comfortable debt position for sustainable growth NET DEBT MAINTAINED AT FY 21 LEVELS TATA BUS AS USUAL DEBT DOWN WITH ROBUST CF FROM OPERATIONS 37,347 39,649 39,719 Q2 FY 21 Q1 FY 22 Q2 FY 22 ■Net Debt Perpetual Debt SUSTAINABLE DEBT PROFILE Net Debt to Equity Net Debt to Underlying EBITDA (on rolling 12 month basis) Average Interest Cost of H1 FY 22 Average LT Debt Maturity 1.63 v 1.54 in Q2 21 4.29 v 4.07 in Q2 21 7.25% v 8.18% in H1 21 7 years Q1FY22 Net Debt Cash from operations Income from JVs & assoc 39,649 859 38,053 (1,529) 491 (534) (883) WC changes Dividend Payment Interest Payment Bus as usual debt Capex & Acquisition Q2FY22 Net Debt 14 1,666 39,719#15TATA POWER Installed Generation Capacity GENERATION PORTFOLIO ~ 32% CLEAN & GREEN Clean and Green Break-up Clean & Waste Heat Business Model MW Thermal Green Hydro Total Recovery/ BFG Wind Solar Captive 429 174 255 - Merchant 246 246 126 255 120 - PPA Fixed Tariff (Bid/ Others) 4,645 4,338 307 307 PPA Fixed Tariff (Renewables) 2,953 2,953 - 932 2,021 Regulated tariff 2,775 2,328 447 447 Tolling/Fixed Tariff 40 40 - - - - Total Capacity w/o Platform 11,088 6,880 4,208 880 375 932 2,021 Thermal under Platform - PPA based 1,980 1,980 Total Capacity incl Platform 13,068 8,860 4,208 880 375 932 2,021 ΤΑΤΑ 15#16TATA POWER T&D Portfolio and RE Pipeline CURRENT T&D PORTFOLIO LARGE SOLAR PROJECT DEVELOPMENT PIPELINE TATA Transmission Business Model CKM Customer State Capacity (MW) Mumbai Transmission Regulated 1,211 UPNEDA UP 100 Dholera GJ 250 Powerlinks (JV) Regulated 2,328 Dholera - II GJ 50 Total 3,539 GUVNL GJ 120 MSEDCL ΜΗ 100 Consumers Distribution Mumbai Business Model TPC-D (Hybrid) RJ 225 in Million Solapur - IHCL ΜΗ 11.5 Dist License 0.7 - Solapur Anand Group MH 10 Tata Power Delhi Dist Ltd Dist License 1.9 KSEB RJ 110 TP Central Odisha Dist Ltd Dist License 2.8 Tata Steel JH 15 GUVNL GJ 60 TP Southern Odisha Dist Ltd Dist License 2.4 Netmagic MH 13 TP Western Odisha Dist Ltd Dist License 2.2 CEAT ΜΗ 10 TP Northern Odisha Dist Ltd TP Ajmer Dist Ltd Total Dist License 2.0 RUMSL MP 330 |Dist Franchisee 0.2 MAHAGENCO ΜΗ 250 12.2 Total 1,654 16#17TATA POWER 90 89 33 93 Availability Operational Highlights 100 100 97 97 98 99 100 100 100 99 89 28 20 20 Thermal (excl. CGPL) CGPL 65 55 76 I 100 Powerlinks 100 100 100 MO- 100 Transmission 100 Wind Solar MO-Hydro Q2 FY21 Q2 FY22 Q1 FY22 70 Plant Load or Capacity Utilization factor 79 25 Thermal (excl. CGPL) CGPL 19 19 44 38 39 24 30 23 19 20 Wind Solar MO - Hydro Q2 FY21 Q2 FY22 Q1 FY22 Transmission - Availability Q2 FY21 ■Q2 FY22 Q1 FY22 AT&C Losses - Distribution 2.8 MO- Distribution (0.8) (1.7) TPDDL 24 24 TPCODL (CESU) TPADL 8.5 5.0 4.7 10.8 6.2 5.9 Q2 FY21 ■Q2 FY22 Q1 FY22 TATA 39.4 29.6 39.5 17#18TATA POWER Financial Results - Q2 FY22 & H1 FY22 ΤΑΤΑ 18#19TATA POWER Consolidated Performance Performance - Q2 FY22 TATA Op Income EBITDA^^ PAT Op Income EBITDA^^ Fig in Cr PAT Particulars Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 YTD Q2 FY22 YTD Q2 YTD Q2 YTD Q2 YTD Q2 YTD Q2 FY21 FY22 FY21 FY22 FY21 Consolidated before exceptional items Standalone & Key Subsidiaries Tata Power (Standalone) CGPL (Mundra UMPP) MPL (Maithon Power)* TPDDL (Delhi Discom)** TPTCL (Power Trading) 9,502 8,428 1,732 2,276 506 371 19,476 15,105 4,097 4,313 971 639 1,897 1,654 1,082 797 541 164 3,685 3,123 2,019 1,446 2,073 232 219 1,902 (533) 312 (863) (110) 1,192 3,644 (63) 582 (709) (265) 773 644 201 179 98 64 1,476 1,281 391 365 177 132 2,391 2,178 307 360 95 116 4,499 3,936 658 719 218 235 121 112 23 16 16 10 180 170 43 29 29 18 Tata Power Solar (Solar Mfg) 1,515 1,014 117 85 30 67 3,464 1,419 191 70 52 41 TPREL Standalone (Renewable Power) 343 239 302 207 48 (4) 654 499 553 439 72 11 WREL (Renewable Power) 292 270 279 249 87 60 626 602 597 563 210 168 Coal SPVS (Investment Companies) 0 0 (1) (1) (56) (50) 0 0 (2) 11 (96) (122) TERPL (Shipping Co) TP Central Odisha Dist Ltd (CESU)** 96 283 243 137 214 105 250 549 282 232 224 170 956 1,037 62 109 15 34 2,060 1,311 65 73 (13) 3 TP Southern Odisha Dist Ltd (SOUTHCO)** TP Western Odisha Dist Ltd (WESCO)** TP Northern Odisha Dist Ltd (NESCO)* TPIPL (Overseas Investment Co) Others 438 38 17 823 91 32 1,024 12 (16) 1,972 35 (18) ** 685 40 - 5 - 1,270 68 2 17 2 (0) 1 24 24 (6) 19 263 213 76 35 27 (3) 492 400 132 79 38 2 TOTAL - A Joint Venture and Associates TOTAL - B Eliminations# Exceptional Items Discontinued operations TOTAL - C 11,012 9,547 2,264 2,487 257 454 22,644 16,935 5,084 4,632 2,285 643 623 196 989 373 11,012 9,547 2,264 2,487 879 650 22,644 16,935 5,084 4,632 3,274 1,016 (1,510) (1,119) (531) (211) (374) (260) (3,168) (1,830) (986) (319) (2,302) (334) (19) (42) 9,502 8,428 1,732 2,276 506 371 19,476 15,105 4,097 4,313 971 639 *TPCL stake-74%; **TPCL stake-51% # Eliminations include inter-company transactions ^^ including other income Note- Q2 FY 22 results include one off reversal of fixed capacity charges of 216 crore in CGPL 19#20TATA POWER Consolidated Performance - YTD FY22 Fig in Cr TATA Particulars Op Income YTD Q2 FY22 YTD Q2 YTD Q2 FY21 FY22 EBITDAΑΛΛ YTD Q2 FY21 YTD Q2 PAT Consolidated before exceptional items Standalone & Key Subsidiaries Tata Power (Standalone) CGPL (Mundra UMPP) MPL (Maithon Power)* TPDDL (Delhi Discom)** 19,476 15,105 4,097 4,313 FY22 971 YTD Q2 FY21 639 3,685 3,123 2,019 1,446 2,073 1,192 3,644 (63) 582 (709) 499 (508) 1,476 1,281 391 365 177 193 4,499 3,936 658 719 218 217 TPTCL (Power Trading) 180 170 43 29 29 22 Tata Power Solar (Solar Mfg) 3,464 1,419 191 70 52 35 TPREL Standalone (Renewable Power) 654 499 553 439 72 24 WREL (Renewable Power) 626 602 597 563 210 180 Coal SPVs (Investment Companies) O O (2) 11 TERPL (Shipping Co) 250 549 282 232 (96) 224 (271) 72 TP Central Odisha Dist Ltd (CESU)** 2,060 TP Southern Odisha Dist Ltd (SOUTHCO)** TP Western Odisha Dist Ltd (WESCO)** TP Northern Odisha Dist Ltd (NESCO)** TPIPL (Overseas Investment Co) Others TOTAL - A Joint Venture and Associates TOTAL - B Eliminations# Exceptional Items Discontinued operations 823 1,311 65 73 (13) 91 32 1,972 1,270 35 (18) 68 2 24 24 (6) 28 492 22,644 400 16,935 132 79 38 26 5,084 4,632 2,285 515 989 373 22,644 16,935 5,084 4,632 (3,168) (1,830) (986) (319) 3,274 (2,302) 888 (330) TOTAL - C 19,476 15,105 4,097 4,313 971 (42) 639 *TPCL stake-74%; **TPCL stake-51% # Eliminations include inter-company transactions ^^ including other income 20#21TATA POWER Share of JVs and Associates Op Income EBITDA PAT Op Income EBITDA TATA Fig in Cr PAT Particulars % Share Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 Q2 FY22 Q2 FY21 YTD Q2 YTD Q2 YTD Q2 YTD Q2 YTD Q2 YTD Q2 FY22 FY21 FY22 FY21 FY22 FY21 Coal Companies (KPC, 30% / 3,112 1,583 1,083 279 520 47 5,641 3,365 1,766 631 799 131 BSSR, AGM) 26% Coal Infrastructure 30% 64 69 Companies (NTP) 69 69 70 44 36 36 135 147 133 117 84 89 Powerlinks Trans Ltd 51% 16 15 15 15 Industrial Energy Ltd 74% 53 56 36 40 120 10 12 31 30 30 29 21 25 22 23 106 112 74 81 47 45 Resurgent Power 26% 264 262 100 84 45 29 523 508 172 159 65 53 Tata Projects 48% 1,476 1,267 39 121 (37) 41 2,965 2,082 105 167 (51) 6 Others Total 32 10 19 14 18 8 51 30 38 42 23 23 5,019 3,261 1,361 623 623 196 9,452 6,273 2,317 1,225 989 373 21 21#22TATA POWER Underlying Consolidated EBITDA TATA Fig in Cr Particulars Q2 FY 22 Q2 FY 21 Qtr Var YTD Q2 FY22 YTD Q2 FY21 YTD Var Reported EBITDA 1,732 2,276 (543) 4,097 4,313 (216) Less: PAT of JV Companies 623 196 427 989 373 616 KPC 396 33 363 618 103 515 BSSR 124 13 111 181 28 153 Coal Infra 44 36 9 84 89 (4) Powerlinks IEL Tata Projects Resurgent Others Adjusted Business EBITDA Less: Depreciation Less: Finance Cost 10 12 (2) 21 25 (4) 22 23 (0) 47 45 1 (37) 41 (78) (51) 6 (57) 45 29 16 65 53 12 18 8 10 23 22 1 2,355 2,472 (116) 5,086 4,686 401 771 699 (72) 1,518 1,343 (175) 946 1,065 119 1,892 2,154 263 PBT as per line item no.7 in Adv 638 708 (70) 1,676 1,188 488 22#23TATA POWER Tata Power (Consolidated) Financial Performance Fig in Cr TATA YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Operating Income Acquisition of Odisha Discoms & higher execution of 9,502 8,428 1,074 19,476 15.105 4,372 projects in TPSSL offset by lower generation in CGPL Operating Expenses 8,147 6,304 (1,843) 15,934 11,031 (4,903) Operating Profit 1,355 2,124 (769) 3,542 4,074 (531) Other Income 377 152 225 555 239 316 Exchange gain on sale of TERPL EBITDA 1,732 2,276 (543) 4,097 4,313 (216) Interest cost 946 1,065 119 1,892 2,154 263 Lower rate of interest on borrowings Depreciation 771 699 (72) 1,518 1,343 (175) Higher depreciation on acquisition of Odisha discoms & capacity addition in TPREL PBT before share of Assoc & JVs 15 512 (497) 687 815 (128) Share of Associates & JV's results 623 196 427 989 373 616 Higher profit from coal companies on account of increased coal prices PBT after share of JV 638 708 (70) 1,676 1,188 488 Tax Expenses 132 318 186 705 507 (198) Change in tax regime Net profit before discontinued ops 506 390 115 971 681 290 Discontinued ops (Defence) Results (19) 19 (42) 42 Net Profit for the Period 506 371 135 971 639 332 23#24TATA POWER Tata Power (Standalone) Financial Performance Fig in Cr TATA YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Operating Income 1,897 1,654 243 3.685 3,123 Operating Expenses 1,341 1,090 (251) 2,619 1,999 Operating Profit 556 564 (8) 1,066 1,124 (57) Other Income 526 232 294 953 322 EBITDA 1,082 797 286 2,019 1,446 573 Interest cost 356 387 31 745 778 Depreciation 150 167 18 296 331 PBT 576 242 334 978 337 641 Tax Expenses 36 78 42 424 105 PAT (before exceptional items) 541 164 377 554 232 322 Exceptional item (net of tax) 1,334 1,334 1,519 563 Higher generation & demand in mumbai operations (620) Higher generation & fuel cost 630 Higher dividend received from overseas subsidiary 34 Lower interest rate on borrowings & debt repaid 34 Transfer of renewable assets to TPREL & Tata Power Green (318) Change in tax regime 1,519 Gain on sale of Trust Energy to TPIPL; eliminated in consolidated PAT for the period 1.875 164 1,711 2,073 232 1,841 Discontinued ops (Defence) Results (19) 19 (42) 42 PAT for the period after 1,875 145 1,730 2,073 190 1,883 discontinued operations 24#25TATA POWER CGPL Key Highlights TATA Fig in Cr YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remark FY22 FY21 Generation (MUs) 2.267 7,256 (4,989) 4,024 13,606 (9,582) Sales (MU) 2,138 6,696 (4,559) 3,727 12,554 (8,826) Availability (%) 28% 89% (61%) 24% 83% (59%) PLF (%) 25% 79% (54%) 22% 75% (53%) HBA Coal Index 132.1 50.6 (81.5) 112.2 55.3 (56.9) FOB price of coal (USD/T) 66.4 43.0 (23.3) 65.3 46.2 (19.0) Average GCV of Coal (kcal/kg) 5,355 5,466 (111) 5.337 5.492 (155) Revenue (/Unit) 1.02 2.84 (1.82) 3.20 2.90 0.30 FOB Fuel under recovery (₹ /Unit) (1.15) (0.30) (0.85) (1.17) (0.37) (0.80) Coal cost is at lower FOB from purchases made earlier Financials Operating Income 219 1,902 (1,684) 1,192 3,644 (2,452) Lower capacity revenue due to lower PLF and reversal of fixed capacity charges Fuel Expenses 637 1,500 863 1,103 2.870 1,767 Other Operating Expenses 118 92 (25) 223 197 (26) Higher repair cost Operating Profit (536) 310 (846) (134) 577 (711) Other Income 3 2 1 71 5 66 EBITDA (533) 312 (845) (63) 582 (645) Interest & Finance Cost 193 291 97 379 584 205 Prepayment of loan and refinancing debentures with lower coupon Depreciation 136 131 (5) 266 263 (3) PAT (863) (110) (753) (709) (265) (443) 25#26TATA POWER Coal Business (KPC): Key highlights TATA Coal Company - KPC Coal Mined (MT) Q2 FY22 Q1 FY 22 Q4 FY 21 Q3 FY21 Q2 FY21 14.4 14.9 14.3 15.3 15.0 Coal Sold (MT) 14.3 15.5 14.1 16.0 14.8 HBA 132.1 92.3 82.7 55.5 50.6 FOB Revenue (USD/T) 84.2 65.5 59.4 43.8 43.8 Royalty (USD/T) 11.9 9.0 8.8 6.1 5.9 Net Revenue after royalty (USD/T) 72.3 56.5 50.7 37.7 37.9 Cost of Production (USD/T) 40.3 36.2 35.6 28.4 31.3 COGS ($/T) - Including Inv Movement 39.6 37.3 34.0 30.6 30.7 Gross Profit (USD/T) 32.6 19.3 16.6 7.1 7.2 26#27TATA POWER CGPL and Coal companies - Integrated performance TATA Fig in Cr CGPL Revenue EBITDA Q2 FY22 219 Q2 FY21 Qtr Var YTD Q2 FY22 YTD Q2 FY21 YTD Var 1,902 (1,683) 1,192 3,644 (2,452) (533) 312 (845) (63) 582 (646) PAT (863) (110) (753) (709) (265) (443) Coal & Infrastructure Business Q2 FY22 Q2 FY21 Qtr Var YTD Q2 FY22 YTD Q2 FY21 YTD Var Revenue 3,203 1,690 1,513 5,830 3,620 2,210 EBITDA 1,395 493 902 2,194 996 1,198 PAT 728 140 588 1,024 278 746 Net PAT Net PAT (w/o one-offs) (135) 30 (165) 316 13 303 79 39 40 228 60 168 One-offs: Q2 FY 22 includes reversal of fixed capacity charges of 216 crore in CGPL and other provisions of 2 crore. 27#28TATA POWER Maithon Power Limited - Highlights Fig in Cr YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Generation (MUs) 2,056 1,575 481 4,083 3,132 951 Improvement in PLF & higher demand Sales (MUs) 1,977 1,503 474 3.816 2,916 900 Availability (%) (Plant) 99% 98% 0% 98% 97% 1% PLF % 89% 68% 21% 89% 68% 21% Higher demand Financials Operating Income 773 644 129 1,476 1,281 195 Higher generation Fuel Costs 503 403 (99) 946 785 (162) Other Operating expenses 75 67 (8) 148 139 (8) Operating profit 196 174 22 382 357 25 Other Income 5 5 (0) 8 7 1 EBITDA 201 179 22 391 365 26 Interest cost 35 37 2 69 76 6 Depreciation 68 61 (6) 137 123 PBT 99 81 18 185 166 19 Tax 1 16 16 8 34 (14) Capitalisation of railway project in last quarter 25 Reversal of deferred tax liability PAT 98 64 33 177 132 44 TATA 28#29TATA POWER Prayagraj Power Generation Co Ltd. - Highlights TATA Fig in Cr YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Generation (MUs) 3,007 2,639 368 6,019 5,046 973 Sales (MU) 2,828 2,472 356 5,668 4,728 940 Availability (%) 79.6% 76.0% 3.6% 82.4% 79.2% 3.3% PLF % 68.8% 60.4% 8.4% 69.2% 58.0% 11.2% Financials Operating Income 997 981 16 1,972 1,935 36 Higher merchant sales offset by lower PPA sales Operating expenses 730 695 (35) 1,475 1,357 (118) Operating profit 267 286 (19) 497 578 (81) Other Income 132 10 122 174 23 EBITDA 399 296 103 671 602 69 Interest cost 177 202 25 359 415 150 Late payment surcharge cess received 56 Lower working capital borrowing & payment of CCD Depreciation 45 41 (4) 90 81 (9) PBT 176 53 123 222 106 116 Taxes PAT 176 53 123 222 106 116 29#30TATA POWER Tata Power Delhi Distribution Ltd - Highlights TATA Fig in Cr YTD Q2 YTD Q2 Particulars Purchase (Mus) Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 3,037 2,922 (115) 5,308 4,995 (313) Sales (Mus) 2,845 2,716 129 4,960 4,633 328 Revenue Per Unit 8.27 7.80 0.47 8.91 8.19 0.72 PPC Per Unit 6.19 5.42 (0.77) 6.49 5.53 (0.96) AT&C losses (%) 5.05% 8.53% 3.48% 5.05% 8.53% 3.48% Financials Income from Operation 2,180 2,146 35 4,118 3,845 Power Purchase 1,679 1,585 (94) 3,094 2,764 Other Operating Exp. 213 237 24 409 421 273 Higher demand & power purchase cost (330) Higher power price and MUS sold 12 Operating Exp. 1,892 1,822 (71) 3,503 3,185 " (318) Operating Profit 288 324 (36) 616 660 (45) Other Income 19 36 (17) 42 59 (17) EBITDA 307 360 (53) 658 719 (62) Interest/Finance Charge 77 91 15 157 178 21 Repayment of short term loans Depreciation 93 89 (4) 185 176 (9) PBT 137 179 (42) 315 365 (50) Tax 42 63 21 97 130 33 PAT 95 116 (21) 218 235 (17) 30 50#31TATA POWER Odisha Discoms - Highlights TATA Q2 Highlights Purchase (Mus) Sales (Mus) TPCODL 2,420 TPSODL TPWODL Fig in Cr TPNODL 1,013 2,080 1,446 1,871 807 1,716 1,160 Revenue per unit 5.10 5.43 5.97 5.91 Power Cost per unit 3.09 2.33 3.97 3.45 Vesting order Target Technical losses (%) 24.0% 25.0% 20.0% 19.0% Actual Technical losses (%) - YTD 23.0% 23.0% 23.0% 20.0% Actual AT&C losses (%) - YTD 29.6% 40.0% 35.2% 34.9% Income from Operation 956 438 1,024 685 EBITDA PAT 62 38 12 40 15 17 (16) 5 31#32TATA POWER Tata Power Renewable Energy Ltd (Conso. excluding WREL) Highlights - TATA Fig in Cr Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Q2 FY 22 YTD Q2 FY 21 YTD Var Quarter Variance Remarks Capacity - Total (MW) 1,748 1,478 270 1,748 1,478 270 Capacity - Wind (MW) 655 655 655 655 - Capacity - Solar (MW) 1,094 824 270 1,094 824 Generation (MUs) 935 735 200 1,754 1,480 270 Higher generation from wind sites due to improved 273 availability & higher wind speed Sales (MUs) 914 718 196 1,719 1,449 270 Avg PLF (%) - Solar 22% 21% 0% 23% 24% 0% Avg PLF (%) - Wind 31% 24% 7% 27% 22% 5% Financials Operating Income 377 314 64 716 625 91 Higher generation Operating expenses 66 55 (11) 141 102 (39) Higher expenses on generator repair work Operating profit 311 258 53 575 523 52 Other income 20 7 13 31 16 15 EBITDA 331 265 66 606 539 67 Interest cost 123 137 14 240 274 Depreciation 121 117 (4) 239 233 34 Lower interest rate on loan (7) Capacity addition during the quarter PBT 87 11 76 126 32 94 Tax 28 5 (23) 37 11 (26) PAT 59 7 53 89 21 68 32 2#33TATA POWER Walwhan Renewable Energy Ltd - Highlights. TATA Fig in Cr YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Capacity - Total (MW) 1,010 1,010 1,010 1,010 Capacity - Wind (MW) 146 146 146 146 Capacity - Solar (MW) 864 864 864 864 Generation (MUs) 411 382 28 877 846 31 Higher generation due to high wind speed Sales (MUS) 406 378 28 868 839 30 Avg PLF (%) - Solar 17% 17% 0% 19% 19% 0% Avg PLF (%) - Wind 25% 18% 7% 25% 21% 4% Financials Operating Income 293 271 22 628 603 25 Higher generation Operating expenses 29 30 0 62 58 (4) Operating profit 264 241 22 566 545 22 Other income 17 8 9 31 18 13 Higher interest income EBITDA 280 249 31 598 563 34 Interest cost 91 102 12 184 205 22 Lower interest rate on loans & debt repaid Depreciation 72 72 (0) 149 144 (5) PBT 118 75 43 265 214 51 Tax 26 15 (11) 51 47 (4) PAT 92 60 32 214 168 47 33#34TATA POWER Tata Power Solar Systems Limited - Highlights TATA Fig in Cr YTD Q2 YTD Q2 Particulars Q2 FY22 Q2 FY21 Qtr Var YTD Var Quarter Variance Remarks FY 22 FY 21 Operating Income Higher revenue due to execution of projects in all the 1,515 1,014 501 3,464 1,419 2,045 segments Operating expenses 1,438 933 (505) 3,329 1,356 (1,974) Operating profit 77 80 (4) 135 63 71 Other income 40 5 35 56 7 EBITDA 117 Interest cost 61 51 85 31 191 70 121 14 (48) 91 19 50 Interest income on receivables (72) Higher working capital borrowings. Depreciation 15 5 (10) 29 29 9 (20) Higher depreciation due to enhancement of manufacturing capacity PBT 40 67 (26) 71 41 29 Tax 10 (10) 18 (18) PAT 30 67 (37) 52 41 11 34#35TATA POWER O Renewables Consolidated View for Q2 FY22 - Fig in Cr Q2 FY22 TATA Key Indicators Elimination (Note RE Generation TPREL^ WREL Others# TPSSL 1) (Conso w/o Elimination (Note 2) EPC) Conso (with EPC) After Elimination Capacity (MW) Revenue EBITDA PAT 1,748 377 331 59 5,261 Net Worth Gross Debt Net Debt 6,914 6,840 (542) (542) ^ TPREL Conso (excl. WREL) # Chirasthayee Solar Ltd, Tata Power Green & balance assets in Tata Power Standalone 1,010 195 292 43 279 30 87 11 2,804 46 4,230 3,860 2,953 2,953 (2) 710 1,515 (729) 1,495 (39) 601 117 (11) 707 (2) 156 30 (25) 161 (1,711) 6,399 683 (374) 6,708 672 11,274 3,021 (100) 14,195 669 10,827 3,006 (100) 13,733 Key indicators Capacity (MW) Revenue EBITDA PAT Net Worth Gross Debt Net Debt Q2 FY22 Q2 FY 21 RE Generation (Conso w/o EPC) Conso (with EPC) After Elimination RE Generation (Conso w/o EPC) Conso (with EPC) After Elimination 2,953 710 2,953 1,495 2,667 2,667 627 1,106 601 707 538 599 156 161 79 127 6,399 6,708 6,245 6,535 11,274 10,827 14,195 13,733 11,348 10,971 11,754 11,336 Note 1: Inter company transactions within the Generation Assets is adjusted through eliminations. Note 2: Represents elimination between Generation Portfolio & TPSSL However, transactions with other Companies in Tata Power group are not adjusted in the above Elimination but reflected in the Elimination in Consolidated P&L 35#36TATA POWER Renewables - Consolidated View for YTD FY22 TATA Fig in Cr Conso YTD Q2 FY 22 Conso YTD Q2 FY 21 Key Indicators Capacity (MW) Revenue EBITDA Renewables (without EPC) Renewables (with EPC) Conso Renewables Conso Renewables (with EPC) (without EPC) After Elimination After Elimination 2,953 2,953 2,667 2,667 1,423 3,081 1,305 1,955 1,250 1,350 1,140 1,186 PAT 311 318 207 225 Net Worth 6,399 6,708 6,245 6,535 Gross Debt 11,274 14,195 11,348 11,754 Net Debt 10,827 13,733 10,971 11,336 36#37TATA POWER - Regulated Equity and Assets TATA Particulars Regulated Equity Mumbai Operation Jojobera Tata Power Delhi Distribution (100%) TP Central Odisha Dist Ltd (100%) TP Southern Odisha Dist Ltd (100%) TP Western Odisha Dist Ltd (100%) TP Northern Odisha Dist Ltd (100%) Maithon Power Limited (100%) Q2 FY 22 Q1 FY 22 Q4 FY 21 Q3 FY 21 Fig in Cr Q2 FY 21 4,212 522 4,212 522 4,204 522 4,042 522 4,023 522 1,764 1,748 1,679 1,633 1,624 300 300 300 300 300 200 200 200 300 300 300 250 250 1,651 1,649 1,440 1,440 1,440 Industrial Energy Limited (100%) 716 716 716 716 716 Powerlinks Transmission (100%) 468 468 468 468 467 Total 10,382 10,365 9,828 9,120 9,091 Regulated Assets (As per financial books) Mumbai Operation 1,762 1.694 1,738 1,504 1,528 Tata Power Delhi Distribution (100%) 5,472 5,620 5,512 5,515 5,406 TP Central Odisha Dist Ltd (100%) TP Southern Odisha Dist Ltd (100%) TP Western Odisha Dist Ltd (100%) (5) 49 89 155 77 50 - 48 (333) (226) (85) TP Northern Odisha Dist Ltd (100%) (85) (50) Maithon Power Limited (100%) Total (242) (235) (227) 6,618 6,851 7,074 (209) 6,966 (181) 6,830 37#38TATA POWER Leverage Management Debt Profile - Fig in Cr CONSOLIDATED PARTICULARS Q2 FY 22 Q1 FY 22 Q2 FY 21 Rupee Forex Total Total Total Long term 24,746 3,108 27,854 29,226 32,737 Short term 9,407 976 10,383 13,433 7,746 Current Maturity of LT 7,275 7,275 5,842 4,012 Total Debt 41,428 4,084 45,512 48,502 44,495 Less: Cash 4,817 8,255 5,560 Less: Debt against dividend in Coal SPVs Net External Debt Equity Net Debt to Equity 976 598 1,589 39,719 39,649 37,347 24,425 24,753 24,296 1.63 1.60 1.54 TATA 38#39TATA POWER Debt Profile Total Gross Debt (LT + ST) Fig in Cr Mar/(Inc) Mar/(Inc) Company 30th Sep 30th June 30th Sep Quarterly movement Remarks -3 -12 2021 2021 2020 months months CGPL 4,528 4,451 (76) 8,078 Coal SPVs 4,084 3,708 (376) 4,042 3,550 (42) Increase in related party loans TPDDL 2,805 3,599 794 3,201 396 Short term loan repaid WREL 4,098 4,104 6 4,601 503 TPREL 5,702 5,752 50 4,895 (806) TPSSL 2,464 1,958 (506) 215 (2,249) Working capital borrowings Maithon 1,854 1,768 (86) 2,052 Odisha DISCOMS 1,109 856 (253) (1,109) TATA Power 18,796 22.223 3,427 17,300 198 Loan borrowed for capex & working capital requirement (1,497) Repayment of short term loan Others 72 82 10 111 Total Debt 45,512 48,502 2,990 44,495 39 (1,017) TATA 39#40TATA POWER Sr. No. 1. Latest Tata Power resources uploaded on website TATA https://esg.churchgatepartners.com/login/Company Profile?id=3 Resources Link Tata Power ESG Profile 10038003100240024004100530048004F004B0041004E0041004 E00590041004100560041004E004900410053004800570049004 E00490024002400 https://www.tatapower.com/pdf/investor-relations/102Annual- https://www.tatapower.com/pdf/investor-relations/investor- 2. Tata Power Integrated Annual Report Report-2020-21.pdf 3. ICICI Securities Virtual ESG Conference- PPT 4. ICICI Securities Virtual ESG Conference- Video presentation-august2021.pdf https://www.youtube.com/watch?v=MqvXsCLN- Gc&feature=emb imp woyt 40 40#41TATA POWER Thank You! Website: www.tatapower.com Investor Relations Team: Mr. Soundararajan Kasturi Chief Treasury & Investor Relations - Email: [email protected] M: +91 82912 04022 Mr. Rahul Shah Head - Investor Relations Email: [email protected] M: +91 91370 34304 ΤΑΤΑ 41