#1TATA POWER ΤΑΤΑ TATA POWER + ** 查看 The Tata Power Company Limited Financial Results - Q2 FY23 28th October 2022 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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Any public offering in the United States may be made only by means of an offering circular that may be obtained from the Company and that will contain detailed information about the Company and management, as well as financial statements. This presentation contains forward-looking statements based on the currently held beliefs and assumptions of the management of the Company, which are expressed in good faith and, in their opinion, reasonable. Forward-looking statements involve known and unknown risks, uncertainties and other factors, which may cause the actual results, financial condition, performance, or achievements of the Company or industry results, to differ materially from the results, financial condition, performance or achievements expressed or implied by such forward-looking statements. 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 FY23 Business Highlights#4TATA POWER TATA Q2 FY23 Highlights ➤ TPSSL receives 'Letter of Award' worth ₹ 612 crore to set up 100 MW ground mounted project for SJVN in Gujarat. TPSSL receives Letter of Award' worth ₹596 crore to set up 125 MWp floating solar project for NHDC Limited Tata Motors and Tata Power have entered into a PPA to develop a 4 MWp on-site solar project at Tata Motors' Pune commercial vehicle manufacturing facility. The installation is collectively expected to generate 5.8 million units of electricity, potentially mitigating over 10 lakh tonnes of carbon emission. Tata Power Trading and 75F Smart Innovations India join hands to promote Automation and Energy-Efficiency Solutions for the Indian Commercial Buildings segment. Resurgent Power Ventures Pte. Ltd completes acquisition of South East UP Power Transmission Co. Ltd Tata Power to install smart meters for all its 7.5 Lacs Consumers in Mumbai by FY25 Tata Power to set up 60+ EV charging points across JP Infra's residential projects to accelerate sustainable mobility in Mumbai ➤ Tata Power sets up 450+ EV charging points across 350 national highways Tata Power Solar won the “Top Brand Module Company for Year 2022" by EQ International for the world-class solar manufacturing facility at Bengaluru. Tata Power makes it to the top companies in Fortune India's “Employers of the Future” list 4#5TATA POWER Manifesting a Greener Tomorrow ΤΑΤΑ Water Neutral Before 2030 Net Zero Carbon Before 2045 ZERO TO LANDFILL Zero Waste to Landfill Before 2030 5#6TATA POWER Solar Businesses - Quarter Quarter Highlights Focusing on Profitable growth Achieved ~100% revenue growth over Q2 FY22 Rooftop Solar 298 Revenue (in crore) 577 561 Q2 FY22 Q2 FY23 Q1 FY23 Solar Pump 205 Revenue (in crore) 111 TATA 241 Q2 FY22 Q2 FY23 Q1 FY23 Orders of 330 MW won in Q2; 90% orders from C&I segment. Order book as of 30th Sep 2022 - 393 MW worth ₹ 1,434 crore. 56 Channel partners added to reach 430 channel partners. Off-grid product with Tata Power branded batteries and inverters, launched in UP, Bihar, Jharkhand and West Bengal 6,087 pumps installed in Q2 FY23. ➤ Cumulative installation till 30th Sep of 17000+ pumps. Order of 4,342 units received from UP Agriculture 73.02 Cr Planned deferment of certain projects resulted in lower revenue in current quarter which will materialize in coming quarters. 6#7TATA POWER Tata Power EZ Charge Operational Highlights Cumulative installation of E-bus charging points till Sep 22 - 242. EV Charging Platform Statistics 89700+ Registered Users 251K+ Charging Sessions TATA 5,321 home chargers installed in Q2. Cumulative installation - 23,834. 722 EV chargers installed in Q2. Cumulative installation 3,093. - Spread Across 475 Cities (+38 cities in Q2) Note: Data as on 30th Sep 2022 13mn+ charging minutes 2561k+kWh units consumed 17mn+ km e-mobility Business Highlights 5 Tata Power transforming green mobility landscape; sets up 450+ EV charging points across 350 national highways. Tata Power to set up 60+ EV charging points across JP Infra's residential projects to accelerate sustainable mobility in Mumba 7#8Tata Power Green Energy Ltd. commissions 225 MW Hybrid power project for TPC-D Mumbai#9Solar Utility Scale EPC- Large Projects update TATA POWER WELL DIVERSIFIED UTILITY SCALE ORDER BOOK Customer Tata Power Group NTPC NHDC SECI SJVN NHPC Total Capacity as on 30th Sep 2022 Order Book as on 30th Sep 2022 (₹ Cr) AC Capacity (MW) 1,360 14,626 770 88 140 1,100 340 3,799 15,261 ➤ Projects totaling 625 MW commissioned in Q2 FY23 188 MW new orders won in Q2 FY23 ➤ Construction activities commenced for SJVN's 1GW project Planned rescheduling of certain large projects resulted in lower revenue in current quarter TPSSL- Large EPC Order Book ( ₹ CRORE) 1,085 -450 15,261 ΤΑΤΑ Order received in quarter Order book at the end of Q2 FY23 Order book at the end of Q1 FY23 Q2 Revenue 6#10TATA POWER TPCODL On track to achieve AT&C loss of 12- 15% by FY 2025 Odisha DISCOMS- Quarter Highlights TPSODL TPWODL Record collection of 451 Crores in Q2 FY 23. Reducing AT&C losses= Promising Growth AT&C Losses (%) TPNODL TATA Collection efficiency of ~90% achieved. More than 90% Collection Efficiency achieved in all segments. H1 FY23-Strong Operational Performance across all DISCOMS Category TPCODL TPSODL TPWODL TPNODL 49 Theft load MW - 58 35 36 38 39 36 30 37 34 29 29 26 Meters replaced (till date) - Lakhs 9.07 4.03 2.10 3.66 Sub-stations automated (till date) — Nos 169 173 112 122 TPCODL TPSODL TPWODL TPNODL Pre takeover arrears collected - YTD Cr 28 28 15 25 130 H1 FY 22 H1 FY 23#11TATA POWER Q2 FY23 Financial Highlights ΤΑΤΑ#12TATA POWER Fig. in INR Cr Q2 FY23 Financial Highlights Strong all round operational performance across the businesses and higher coal profits, PAT up by 85% YoY Reported EBITDA* Underlying EBITDA (Including Share of JVs & Associates) TATA PAT (before exceptional items) Q1 FY23 Q2 FY23 | Q2 FY22 2,107 2,043 1,732 (3%) 18% 2,910 12% Q1 FY23 Q2 FY23 | Q2 FY22 3,262 2,355 Q1 FY23 Q2 FY23 Q2 FY22 884 935 506 39% 6% 85% Renewables EBITDA Q1 FY23 Q2 FY23 | Q2 FY22 778 736 (5%) *Reported EBITDA includes other income Receivables Net External Debt Q1 FY23 707 9,442 Q2 FY23 | Q2 FY22 9,363 6,347 Q1 FY23 42,343 | 39,486 39,459 Q2 FY23 | Q2 FY22 4% 12#13TATA POWER NET DEBT COME DOWN TO A SUSTAINABLE LEVEL Q2 FY22 Net Debt Comfortable debt position for sustainable growth 39,459 39,486 Q2 FY23 Q1 FY23 DEBT PROFILE Net Debt to Equity Net Debt to Underlying EBITDA (on rolling 12 month basis) Average Borrowing Cost 1.32 v 1.62 in Q2 FY22 3.52 v 4.27 in Q2 FY22 7.04% v 6.55% in Q2 FY22 42,343 Q1FY23 Net Debt Cash from operations 42,343 EQUITY INFUSION~ PAVE THE WAY TO ACHIEVE GROWTH TARGET (1,942) (1,339) 22 (739) Income from JVs & assoc WC changes Others Interest Payment Bus as usual debt 1,504 1,637 39,982 Capex & Acquisition Equity Infusion 39,486 (2,000) Q2FY23 Net Debt 13 TATA#14TATA POWER Installed Generation Capacity as on 30th Sep 22 GENERATION PORTFOLIO ~ 37% CLEAN & GREEN Clean & Business Model MW Thermal Green Hydro WHRS/ BFG Clean and Green Break-up Wind Solar Captive 429 174 255 255 Merchant 246 246 126 120 PPA/ Fixed Tariff (Bid/ Others) 4,645 4,338 307 307 PPA/ Fixed Tariff (Renewables) 3,870 3,870 932 2,938 Regulated tariff 2,775 2,328 447 447 Tolling/Fixed Tariff 40 40 0 Total Capacity w/o Platform 12,005 6,880 5,125 880 375 932 2,938 Thermal under Platform PPA based - 1,980 1,980 Total Capacity incl Platform 13,985 8,860 5,125 880 375 932 2,938 WHRS Waste Heat Recovery System = BFG Blast Furnace Gas 16.5 MW solar projects have been commissioned in Oct taking total capacity to 14,002 ΤΑΤΑ 14#15TATA POWER T&D Portfolio and RE Pipeline as on 30th Sep 22 CURRENT T&D PORTFOLIO LARGE SOLAR PROJECT DEVELOPMENT PIPELINE TATA Transmission Business Model CKM Customer State Capacity (MW) Mumbai Transmission Regulated 1,224 Powerlinks (JV) Regulated 2,328 KSEB RJ 110 Total 3,552 Tata Steel JH 15 GUVNL Consumers in GJ 60 Distribution Business Model Million RUMSL MP 330 Mumbai Dist License 0.8 MAHAGENCO MH 250 TPDDL Dist License 1.9 TPCODL Dist License 2.7 TPSODL Dist License TPWODL Dist License 2.3 TPNODL Dist License 2.1 TPADL Dist Franchisee 222222 MSEDCL-Hybrid MH 300 SECI - Hybrid KN 600 2.4 Viraj Profiles MH 100 Endurance MH 13 Parag Dairy MH 9 Tata Communications MH 4 0.2 Total 12.4 Total 1,790 15#16TATA POWER 87 93 92 88 12 55 Q2 FY23 Operational Highlights Transmission - Availability Generation - Availability I 100 99 100 98 99 98 100 99 100 28 Thermal (excl. Mundra) Mundra MO - Hydro Wind Solar 79 72 77 76 Plant Load or Capacity Utilization factor 53 46 46 44 38 38 25 26 26 28 28 30 25 23 Thermal (excl. Mundra MO - Hydro Wind Mundra) 20 20 20 20 Solar 100 Powerlinks 100 100 100 MO - 100 Transmission 100 AT&C Losses - Distribution 0.4 MO- Distribution 0.5 (0.8) TPDDL TPCODL 8.0 7.2 5.0 8.8 TPADL 8.9 6.2 Q1 FY23 ■Q2 FY23 ■Q2 FY22 TATA 35.7 23.7 30.7 16#17ΤΑΤΑ POWER Financial Results ΤΑΤΑ 17#18TATA POWER INR Cr unless stated Consolidated Performance - - Q2 FY23 Particulars Consolidated before exceptional items Standalone & Key Subsidiaries Tata Power (Standalone) MPL (Maithon Power)* TPDDL (Delhi Discom)** Op Income Q2 FY23 14,163 EBITDA^^ PAT Q2 FY22 9,502 Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22 2,043 1,732 935 506 4,888 2,116 1,683 539 662 (319) 810 773 191 201 82 98 2,964 2,391 332 307 113 95 TPTCL (Power Trading) 160 121 (6) 23 (6) 16 Tata Power Solar (Solar Mfg) 1,135 1,515 125 117 50 30 TPREL Standalone (Renewable Power) 416 343 326 302 29 48 WREL (Renewable Power) 275 292 260 279 92 87 Coal SPVs (Investment Companies) (0) 0 (1) (1) (151) (56) TERPL (Shipping Co) 138 96 (8) 243 (29) 214 TP Central Odisha Dist Ltd (CESU)** 1,222 956 66 62 3 15 TP Southern Odisha Dist Ltd (SOUTHCO)** 547 438 35 38 9 17 TP Western Odisha Dist Ltd (WESCO)** 1,640 1,024 102 12 46 (16) TP Northern Odisha Dist Ltd (NESCO)** 817 685 45 40 4 5 TPIPL (Overseas Investment Co) 7 17 (20) (0) Others TOTAL-A 311 259 116 72 (3) 23 15,323 11,009 3,272 2,250 881 257 Joint Venture and Associates TOTAL - B 1,219 623 15,323 11,009 3,272 2,250 2,101 880 Eliminations# (1,161) (1,507) (1,229) (518) (1,166) (374) TOTAL - C 14,163 9,502 2,043 1,732 935 506 Previous year numbers are restated *Tata Power (TPCL) stake-74%; **TPCL stake-51%; # Eliminations include inter-company transactions; ΑΛ including other income TATA 18#19TATA POWER Consolidated Performance - YTD FY23 TATA INR Cr unless stated Particulars Consolidated before exceptional items Standalone & Key Subsidiaries Tata Power (Standalone) MPL (Maithon Power)* TPDDL (Delhi Discom)** Op Income EBITDA^^ PAT YTD FY23 YTD FY22 YTD FY23 YTD FY22 YTD FY23 YTD FY22 28,939 19,476 4,150 4,097 1,819 971 10,158 4,877 2,954 1,944 1,084 (149) 1,564 1,476 380 391 162 177 6,087 4,499 672 658 234 218 TPTCL (Power Trading) 233 180 (20) 43 (18) 29 Tata Power Solar (Solar Mfg) 2,488 3,464 140 191 17 52 TPREL Standalone (Renewable Power) 858 654 697 553 83 72 WREL (Renewable Power) 656 626 617 597 262 210 Coal SPVs (Investment Companies) 0 0 (2) (2) (226) (96) TERPL (Shipping Co) 305 250 50 282 (2) 224 TP Central Odisha Dist Ltd (CESU)** 2,520 1,966 133 65 10 (13) TP Southern Odisha Dist Ltd (SOUTHCO)** 1,068 859 80 91 27 32 TP Western Odisha Dist Ltd (WESCO)** 2,996 2,019 106 35 23 (18) TP Northern Odisha Dist Ltd (NESCO)** 1,603 1,281 87 68 11 2 TPIPL (Overseas Investment Co) 15 24 (31) (6) Others TOTAL-A Joint Venture and Associates 601 487 185 127 33 31,137 22,639 6,095 5,067 1,629 767 2,022 989 TOTAL - B 31,137 22,639 6,095 5,067 3,652 1,755 Eliminations# (2,199) (3,163) (1,945) (970) (1,833) (784) TOTAL - C 28,939 19,476 4,150 4,097 1,819 971 Previous year numbers are restated *Tata Power (TPCL) stake-74%; **TPCL stake-51%; # Eliminations include inter-company transactions; ^^ including other income 1992#20TATA POWER INR Cr unless stated Share of JVs & Associates Op Income EBITDA PAT Op Income EBITDA PAT Particulars % Share YTD YTD YTD YTD YTD YTD Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22 Q2 FY23 Q2 FY22 FY23 FY22 FY23 FY22 FY23 FY22 Coal Companies (KPC, 30% / 5,452 3,112 1,622 1,083 1,096 520 10,278 5,641 3,072 1,766 2,092 799 BSSR, AGM) 26% Coal Infrastructure 30% 49 64 65 69 39 44 82 135 Companies (NTP) 52 52 133 11 84 Powerlinks Trans Ltd 51% 16 16 14 15 9 10 32 31 29 29 30 19 21 Industrial Energy Ltd (IEL) 74% 66 53 Resurgent Power 26% 327 264 Tata Projects 48% 2,028 1,476 428 46 36 82 100 29 22 31 22 131 106 92 74 62 47 45 598 523 147 172 42 65 88 39 6 (37) 3,751 2,965 (123) 105 (216) (51) Others JVs (including adjustments) 37 32 29 29 19 10 10 18 45 51 38 38 12 23 Total- Joint Ventures & Associates 7,975 5,019 1,945 1,361 1,219 623 14,916 9,452 3,307 2,317 2,022 989 ΤΑΤΑ 20#21TATA POWER INR Cr unless stated Underlying Consolidated EBITDA ΤΑΤΑ Particulars Reported EBITDA Less: PAT of JV Companies KPC&BSSR Coal Infra Powerlinks IEL Tata Projects Resurgent Q2 FY23 Q2 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var 2,043 1,732 310 4,150 4,097 53 1,219 623 597 2,022 989 1,034 1,096 520 576 2,092 799 1,292 39 44 (6) 11 84 (73) 9 10 (1) 19 21 (2) 31 22 9 62 47 16 6 (37) 43 (216) (51) (165) 29 45 (17) 42 65 (23) Others 10 18 (8) 12 23 (11) Adjusted Business EBITDA 3,262 2,355 907 6,172 5,086 1,086 Less: Depreciation 838 771 (66) 1,660 1,518 (141) Less: Finance Cost 1,052 946 (105) 2,078 1,892 (186) PBT as per line item no.7 in Adv 1,373 638 735 2,435 1,676 759 21 21#22TATA POWER INR Cr unless stated Tata Power (Consolidated) Financial Performance ΤΑΤΑ Particulars (INR Cr) Q2 FY23 Q2 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance Remarks Operating Income 14,163 9,502 4,661 28,939 19,476 Operating Expenses Operating Profit 12,270 8,147 (4,124) 25,082 15,934 9,463 Higher power prices in distribution business & availability in Mundra (9,149) Higher power & fuel prices 1,892 1,355 537 3,856 3,542 314 Other Income 150 377 (227) 294 555 (261) PY includes exchange gain on sale of TERPL to TPIPL EBITDA 2,043 1,732 310 4,150 4,097 53 Interest cost 1,052 946 (105) 2,078 1,892 (186) Higher loan for capex Depreciation 838 771 (66) 1,660 1,518 (141) Increased capacity PBT before share of Assoc & JVs 153 15 139 413 687 (275) Share of Associates & JV's results 1,219 623 597 2,022 989 PBT after share of JV 1,373 638 735 2,435 1,676 759 Tax Expenses 438 132 (306) 616 705 1,034 Higher profit from Coal Cos 88 Higher PBT and unwinding of deferred tax due to higher dividend PAT* 935 506 430 1,819 971 847 * As per line item 13 in the SEBI Advt 22#23TATA POWER INR Cr unless stated Tata Power (Standalone) Financial Performance Particulars Operating Income Q2 FY23 Q2 FY22 Qtr Var YTD Q2 FY23 YTD Q2 FY22 YTD Var Quarter Variance Remarks 4,888 2,116 2,772 10,158 4,877 Operating Expenses 4,356 2,096 (2,260) 9,077 3,946 Operating Profit 532 20 512 1,081 931 150 Other Income 1,151 519 632 1,873 1,012 5,281 Higher power price in distribution business & availability in Mundra plant (5,131) Higher fuel prices 860 Higher dividend received from coal SPV's EBITDA 1,683 539 1,144 2,954 1,944 1,010 Interest cost Depreciation 556 537 (19) 1,119 1,108 (11) 286 285 (1) 577 561 (16) PBT 841 (283) 1,124 1,258 275 983 Tax Expenses 178 36 (143) 174 424 250 Unwinding of deferred tax due to higher dividend PAT (before exceptional items) 662 (319) 981 1,084 (149) 1,233 Exceptional item (net of tax) 538 1,334 (796) 538 1,519 (981) PAT for the period 1,200 1,015 185 1,622 1,370 252 *Line no.11 of advertisement PY has been restated with the merger of CGPL and Af-taab in TPCL standalone. ΤΑΤΑ 23#24TATA POWER In INR Cr unless stated Maithon Power Limited - Highlights Particulars Q2 FY23 Q2 FY22 Qtr Var YTD FY23 YTD FY22 YTD VarQuarter Variance Remarks Generation (MUs) 2,031 2,056 (26) 4,030 4,083 (53) Sales (MUs) 2,030 1,977 53 3,989 3,816 174 Availability (%) (Plant) 99% 97% 2% 97% 98% -1% PLF % 88% 89% -1% 87% 89% -1% Financials Operating Income 810 773 37 1,564 1,476 88 Higher fuel cost Fuel Costs 539 503 (36) 1,037 946 (91) Other Operating expenses 87 75 (13) 163 148 (15) Operating profit 184 196 (12) 365 382 (18) Other Income 7 5 2 15 8 EBITDA 191 201 (10) 380 391 (11) Interest cost 33 35 2 66 69 3 Depreciation 68 68 (1) 136 137 PBT 90 99 177 185 (7) Tax 8 1 15 8 PAT 82 98 (16) 162 177 (7) Reversal of MAT credit (15) ΤΑΤΑ 24#25TATA POWER - Prayagraj Power Generation Co Ltd. (PPGCL) - Highlights ΤΑΤΑ In INR Cr unless stated Particulars Q2 FY23 Q2 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance Remarks Generation (MUs) 3,353 3,007 346 6,376 6,019 356 Sales (MU) 3,161 2,828 333 6,008 5,668 340 Availability (%) 85.2% 79.6% 5.6% 79.7% 82.4% -2.7% PLF % 76.7% 68.8% 7.9% 73.3% 69.2% 4.1% Financials Operating Income 1,219 997 222 2,219 1,972 247 Higher PPA and merchant sales Operating expenses 946 730 -216 1,765 1,475 -290 Operating profit 272 267 6 454 497 -43 Other Income 56 132 -76 124 174 -50 Lower late payment surcharge cess received EBITDA 328 399 -70 578 671 -93 Interest cost 180 177 -2 356 359 3 Depreciation 49 45 -4 98 90 -8 PAT 99 176 -77 124 222 -98 25 45#26TATA POWER Tata Power Delhi Distribution Ltd - Highlights INR Cr unless stated Particulars Q2 FY23 Q2 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Purchase (Mus) 3,258 3,037 -221 6,446 5,308 -1,138 Sales (Mus) 3,049 2,845 204 6,031 4,960 1,071 Revenue Per Unit (INR) 9.60 8.27 1.33 9.96 8.91 1.05 PPC Per Unit (INR) 7.43 6.19 -1.24 7.72 6.49 -1.22 AT&C losses (%) 7.17% 5.05% -2.12% 7.17% 5.05% -2.12% Financials Income from Operation 2,742 2,180 561 5,401 4,118 1,283 Power Purchase 2,209 1,679 -529 4,316 3,094 -1,222 Other Operating Exp. 221 213 -8 456 409 -47 Operating Exp. 2,430 1,892 -537 4,772 3,503 -1,270 Operating Profit 312 288 24 629 616 13 Other Income 20 19 1 43 42 1 EBITDA 332 307 Interest cost 75 77 Depreciation 94 93 PBT 163 137 Tax 50 42 PAT 113 95 227288 25 672 658 15 146 157 12 -1 188 185 123 -3 26 339 315 24 -8 105 97 -8 18 234 218 16 ΤΑΤΑ 26#27TATA POWER INR Cr unless stated Q2 FY23 Odisha Discoms - Highlights TPCODL TPSODL TPWODL TPNODL Purchase (Mus) Sales (Mus) Revenue per unit (INR) 2,723 1,097 3,403 1,677 2,063 828 2,792 1,337 5.62 6.60 5.72 5.66 Power Cost per unit (INR) 3.24 2.52 3.88 3.46 Actual Technical losses (%) (YTD) 24.1% 24.1% 20.0% 19.7% Actual AT&C losses (%) (YTD) 29.9% 34.3% 28.7% 25.9% Vesting order Target AT&C losses (%) (YTD) 23.7% 26.0% 20.0% 19.2% Key Financials (INR Cr) Income from Operation 1,222 547 1,640 817 EBITDA 66 35 102 45 PAT 3 9 46 4 ΤΑΤΑ 27#28TATA POWER - Tata Power Renewable Energy (excluding WREL) – Highlights INR Cr unless stated Particulars Q2 FY23 Q2 FY22 Qtr Var YTD FY23 Capacity - Total (MW) 2,803 1,876 927 2,803 YTD FY22 1,876 YTD Var 927 Quarter Variance Remarks Capacity - Wind (MW) 782 782 0 782 782 0 Capacity Solar (MW) 2,021 1,094 927 2,021 1,094 927 Generation (MUs) 1,430 1,010 420 2,814 1,889 925 Sales (MUS) 1,403 989 414 2,765 1,850 914 Avg PLF (%) - Solar 22% 22% -1% 23% 24% -1% Avg PLF (%) - Wind 29% 31% -2% 27% 27% 0% Financials (INR Cr) Operating Income 520 408 112 1,031 771 259 Capacity addition offset by lower PLF Operating expenses 113 79 -34 216 172 -44 Operating profit 407 329 78 815 599 216 Other income 42 20 23 51 31 20 EBITDA 449 349 100 866 630 235 Interest cost 228 123 -104 415 241 -174 Depreciation 170 124 -46 329 245 -84 Higher borrowings and interest cost Higher capacity PBT 51 102 -51 122 145 -23 Tax 20 32 12 42 42 0 PAT 31 70 -39 80 102 -22 ΤΑΤΑ 28#29TATA POWER INR Cr unless stated Walwhan Renewable Energy Ltd - Highlights Particulars Q2 FY23 Q2 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance Remarks Capacity - Total (MW) 1,010 1,010 0 1,010 1,010 0 - Capacity Wind (MW) 146 146 0 146 146 0 Capacity Solar (MW) 864 864 0 864 864 0 Generation (MUs) 381 411 -29 872 877 -5 Sales (MUs) 377 406 -28 863 868 -4 Avg PLF (%) - Solar 17% 17% 0% 19% 19% 0% Avg PLF (%) - Wind 18% 25% -8% 24% 25% -1% Financials (INR Cr) Operating Income 275 293 -17 656 628 29 Lower Wind PLF Operating expenses 35 29 -6 73 62 -12 Operating profit 240 264 -23 583 566 17 Other income 20 17 3 34 31 2 EBITDA 260 280 Interest cost 76 91 14 Depreciation 69 79 PBT 115 110 Tax 22 23 PAT 92 87 210505 617 598 19 153 184 30 Debt repayment benefit 138 156 18 325 258 68 63 47 -16 262 210 52 ΤΑΤΑ 29#30TATA POWER Tata Power Solar Systems Limited - Highlights INR Cr unless stated Particulars (INR Cr) Q2 FY23 Q2 FY22 Qtr Var YTD FY23 YTD FY22 YTD Var Quarter Variance Remarks Operating Income 1,135 1,515 -380 2,488 3,464 -976 Operating expenses 1,011 1,438 427 2,351 3,329 978 Operating profit 124 77 48 137 135 2 Margin 11.0% 5.1% 5.5% 3.9% PY includes interest income Other income 0 40 -39 3 56 -54 on receivable EBITDA 125 117 8 140 191 -51 Margin 11.0% 7.7% 5.6% 5.5% Interest cost 35 61 26 77 91 14 Better WC management Depreciation 16 15 -1 31 29 -2 PBT 74 41 34 32 71 -39 Tax 24 10 -14 15 18 4 PAT 50 30 20 17 52 -35 Margin 4.4% 2.0% 0.7% 1.5% ΤΑΤΑ 30#31TATA POWER Green Company - Consolidated View ΤΑΤΑ Key Parameters- GreenCo (INR Cr) Q2 FY23 Q2 FY22 Revenue 1,603 1,495 EBITDA 736 707 PAT 128 161 Gross Debt 17,193 14,195 Net Debt 15,033 13,733 Net Worth 11,841 6,708 Note: EBITDA includes other income 31#32TATA POWER Regulated Equity and Assets - INR Cr unless stated Particulars Regulated Equity Q2 FY 23 Q1 FY 23 Q4 FY 22 Q3 FY 22 Q2 FY 22 Mumbai Operation 4,380 4,370 4,377 4,243 4,212 Jojobera 522 522 522 522 522 Tata Power Delhi Distribution (100%) 1,846 1,839 1,831 1,769 1,764 TP Central Odisha Dist Ltd (100%) 504 504 504 300 300 TP Southern Odisha Dist Ltd (100%) 248 248 248 200 200 TP Western Odisha Dist Ltd (100%) 360 360 360 300 300 TP Northern Odisha Dist Ltd (100%) 295 295 295 250 250 Maithon Power Limited (100%) 1,669 1,661 1,661 1,651 1,651 Industrial Energy Limited (100%) 690 690 690 716 716 Powerlinks Transmission (100%) 468 468 468 468 468 Total 10,981 10,957 10,956 10,419 10,382 Regulated Assets (As per financial books) Mumbai Operation 2,908 2,620 2,078 1,810 1,762 Tata Power Delhi Distribution (100%) 5,942 5,918 5,842 5,707 5,472 TP Central Odisha Dist Ltd (100%) 28 82 126 31 -5 TP Southern Odisha Dist Ltd (100%) 210 125 94 56 50 TP Western Odisha Dist Ltd (100%) -1,043 -812 -635 -511 -333 TP Northern Odisha Dist Ltd (100%) Maithon Power Limited (100%) 5 4 23 -96 -85 -253 -252 -222 -300 -242 Total 7,796 7,686 7,306 6,696 6,618 ΤΑΤΑ 32 2#33TATA POWER INR Cr unless stated Tata Power- Debt Profile CONSOLIDATED PARTICULARS O2 FY23 Q1 FY23 Q2 FY22 Rupee Forex Total Total Total Long term 26,206 3,391 29,597 30,014 27,854 Short term 10,010 1,798 11,808 11,007 10,383 Current Maturity of LT 8,130 8,130 8,672 7,275 Total Debt 44,346 5,189 49,535 49,693 45,512 Less: Cash 8,251 5,987 5,077 Less: Debt against dividend in Coal SPVs 1,798 1,363 976 Net External Debt 39,486 42,343 39,459 Equity Net Debt to Equity 29,881 27,284 24,425 1.32 1.55 1.62 ΤΑΤΑ 33#34TATA POWER Key Segments-Debt Profile Gross Debt (INR Cr) Change Quarterly movement Remarks 12 months (1,105) Additional loan in lieu of dividend 84 Company 30th Sep 30th June Change- 30th Sep 2021 2022 2022 3 months Coal SPVs+ TPIPL 5,189 4,676 (514) 4,084 TPDDL 2,721 2,831 110 2,805 WREL 3,760 3,971 210 4,098 338 TPREL 11,365 10,134 (1,232) 5,702 TPSSL 1,218 1,649 431 2,464 Maithon 1,668 1,645 (23) 1,854 Odisha DISCOMS 1,881 1,700 (181) 1,109 TATA Power 21,420 22,765 1,345 23,324 Others 312 323 11 72 Total Debt (LT+ST) 49,535 49,693 157 45,512 (5,664) Increase in capex related borrowings 1,246 Better working capital management 186 (772) Higher capex 1,904 Repayment of debt (240) (4,023) ΤΑΤΑ 34#35TATA POWER Sr. No. 1. Latest Tata Power resources uploaded on website Resources Link Tata Power ESG Profile https://esg.churchgatepartners.com/login/Company Profile?id=3100 38003100240024004100530048004F004B0041004E0041004E005900 41004100560041004E004900410053004800570049004E00490024002 400 2. Tata Power Integrated Annual Report 3. TPCL Renewable Transaction Analyst Presentation 4. Analyst Day Presentation https://www.tatapower.com/pdf/investor-relations/103 Annual- Report-2021-22.pdf https://www.tatapower.com/pdf/investor-relations/tpcl-renewable- analyst-presenation-14apr2022.pdf https://www.tatapower.com/pdf/investor-relations/investor- presentation-august2022.pdf TATA 35#36TATA 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. Rajesh Lachhani Head Investor Relations Email: [email protected] M: +91 9742947821 ΤΑΤΑ 36