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PTC India hosted a conference call on June 25, 2021. In the conference call the company was represented by Deepak Amitabh, CMD; Rajib Mishra, Director marketing and Pankaj Goel, CFO.
Key takeaways of the call
Volumes for Q4FY21 and FY21 have increased by 36 % (to 16.279 BUs from 12.002 Bus) and 21% (to 80.042 BUs from 66.332 Bus) respectively. This is despite challenging times due to covid pandemic. The growth was driven by short term trade. Share of short term in the total volume mix in Q4FY21 stood increased to 57% compared to 41% in Q4FY20.
As demand keep fluctuating the customers opted/preferred short-term power driving the demand in Q4FY21. Prices on the exchange is lower for customers.
Expect to sign PPA for 1070 MW shortly with various discoms in case of MOP Pilot II scheme, for which it is the aggregator.
Market Based Economic Despatch (MBED) and Market Coupling will be positive bearing for the company.
MBED will ensure scheduling of all the power despatch at national level through price discovery mechanism. MPED is a win win for both the distribution companies and generators as it ensures cheapest generating resources across the country are despatched to meet the overall system demand. So there will be lot of opportunity for trader such as PTC. Phase I of MPED is scheduled to be implemented from April 1, 2022.
Market Coupling – The regulator gave nod on May 12, 2021 to create a platform with no legacy. It will ensure uniform price for buyers in exchanges. It will be implemented on a day when regulator deems fit.
Growth drivers going forward for the company will be B2C as well as Consultancy & Advisory.
B2C business segment is catering to open access customers. Added many number of new open access customers (large industrial customers > 1MW) in FY21. See much more customers are coming considering changing market place.
Market is very large for C&A and the ILFS Energy acquisition is in this regard and boost the skilled man-power.
Monetisation of PTC Energy – Process is on but taking more time than anticipated. AP issue not sorted out yet. Along with other player the company is confident that AP will honour the contract.
Exchange – Opening of 3rd exchange by the company has achieved the milestone of setting up new office complex, consultant was identified for technology vendor etc.
Surcharge is recognised only it become certain. It receivables got collected only in Q4FY21 only leading to spike.
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