|
NTPC hosted a conference call on
Oct 28, 2023. In the conference call the company was represented by Jayakumar
Srinivasan, Director Finance.
Key takeaways of the call
Commercial capacity as end of Sep
2023 stood at 57838 mw (standalone) & 73824 MW (for Group).
In H1FY24, the company added a
commercial capacity of 1570 MW of which 110 MW is renewable.
Lower generation on account of grid
restrictions in H1FY24 was 46 billion units against 40 billion units in
corresponding previous period. Generation
loss due to fuel unavailability in H1FY24 was negligible against about 2
billion units in corresponding previous period.
Capex incurred in H1FY24 at group
level was Rs 13203.60 crore against Rs 16664.19 crore. Capital expenditure for FY24 at standalone level was
about Rs 22454 crore. Capex for next fiscal will also be in the same
range.
Renewable capacity as end of Sep
2023 was 3314 MW and further about 7258 MW
of RE power projects are under construction. Additionally it has secured tenders/bilateral
for 10GW of renewable capacity.
The company is also actively
considering awarding of thermal capacity of about 11200 MW (50% from standalone
and 50% from JVs/subsidiaries) by next fiscal. This is in addition to 10 GW of
thermal capacity that is already under
construction for the group.
The company is also enhancing
coal mining capacity. Emerged as preferred bidder for North Dhadhu East
coal mines with estimated geological reserve of 439 million tonnes in the
auction of commercial blocks by GOI.
Business transfer agreement for transferring
its mining assets to NTPC Mining , a WOS of the company signed 17th August
2023.
Over next three fiscal years the
company will be completing FGD installations for its entire existing capacity
and under construction capacity thereby substantially reducing SoX and NoX
emissions.
Dividend income in H1FY24 was Rs 949
crore against Rs 645 crore in
corresponding previous period.
Of 11.2 GW proposed thermal
capacity to be tendered out comprise projects like Singrauli III of 1600 MW (which
will be tendered out by Q3FY24 end), Darlipalli Unit I 800 MW ( by Jun 2024), Sipat
III of 800 MW ( will be Jan/Feb 2024), Vindyachal
(will be awarded by Sep 2024) and Telengana Phase II. Under JV/Subsidiary the tendering will be
done progressively by FY26 for Anpara, Opera D expansion etc.
Regulated equity as end of Sep
2023 for standalone entity is Rs 81498 crore
and on consolidated entity is Rs 98050 crore.
Coal reserve is little tight now,
but end of this month onwards the receipt of coal at thermal plant is expected
to pickup.
Plans to unlock value in
renewable entity either byway of bringing in strategic investor or IPO route. By
year and half or 2 years there will be certain level of capacity and then the
timing will be decided.
Pumped storage – Last year GOI has identified pumped storage
projects with a capacity of 11550 MW across the states of Maharashtra, TN,
Andhra and Karnataka with NTPC as possible developer. The company has gone for prefeasibility
report and state acceptance etc on these projects and its now targeting half of
these capacity for development in coming years. Further the company is also
considering 8500 MW of pumped storage capacity in states of MP, Chattisgarh,
Gujarat and Meghalaya etc. So overall about 14000 MW of pumped storage capacity
will be ready to be signed with various state governments by the company. Typically for initial work for these projects
will be about 2-3 years and then about 3-5 years for construction work. The
pumped storage projects will be under taken at cost plus model.
Adjusted PAT for standalone for
Q2FY24 is about Rs 3497 against Rs 3601 crore in corresponding previous period.
Of the ongoing 1000 MW pumped
storage project (THDC pumped storage) the tail-end issues are now settled and
the first unit will come on stream by Jan/Feb 2024.
In H1FY24 added 1460 mw and
further it will add another 1480 MW (Telengana project, Durgapur Unit 2) in H2FY24. In FY25
it will add 5240 MW (largely Barh Unit 3, North Karanpura, Badra 2 unit fo 1600
MW, Khurja STPC of 1320 MW etc).
|