SSPL Securities Private Limited

Hot Pursuit

Scrips, which has significant changes during the market hours.

Adani Power gains after turnaround Q4 show

07-May-21 10:00 Hrs IST

Consolidated total revenue for Q4 FY21 stood higher at Rs 6,902 crore, as compared to Rs 6,328 crore in Q4 FY20. The consolidated total revenue for Q4 FY21 includes recognition of revenue from operations pertaining to prior periods amounting to Rs 165 crore on the basis of various regulatory orders for change in law, and other income amounting to Rs 410 crore on the basis of various regulatory orders for carrying costs, and write back of liabilities. In comparison, revenue from for Q4 FY20 included reversal of prior period items of Rs 631 crore under revenue from operations and recognition of Rs 22 crore of other income pertaining to prior periods.

The EBITDA for Q4 FY21 grew 496% to Rs 2,143 crore as compared to Rs 360 crore in Q4 FY20. The EBITDA growth was aided by prior period income recognition, lower cost of domestic alternate coal, favourable currency movement, lower provisioning of one-time expenses, and lower revenue reversal, as compared to Q4 FY20.

During Q4 FY21, APL, along with the power plants of its subsidiaries achieved an average Plant Load Factor (PLF) of 59.6%, and aggregate sales volumes of 14.8 billion units (BU). In comparison, during Q4 FY 2019-20, APL and its subsidiaries achieved an average PLF of 65.5% and sales volume of 16.5 BU.

Operating performance was affected due to lower merchant sales and grid backdown in various plants, as well as reserve shutdown at Udupi due to higher penetration of renewables. The decline in PLF was offset partially by higher merchant sales at Raipur and Raigarh, and higher grid demand at Kawai.

Commenting on the Q4 results of the company, Gautam Adani, the chairman of Adani Group, has said that: India is facing a renewed challenge in the form of a sudden surge of the COVID-19 pandemic. The Adani Group stands shoulder-to-shoulder with the nation in facing and surmounting this challenge. We are expending all efforts to help India recover quickly and resume on its path to progress and prosperity for all. The Adani Group remains committed to sustainable growth of energy infrastructure and becoming a key contributor to the nation's economic progress.

APL a part of the diversified Adani Group, is the largest private thermal power producer in India. The company has an installed thermal power capacity of 12,410 MW spread across six power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh, apart from a 40 MW solar power plant in Gujarat. With the help of a world-class team of experts in every field of power, Adani Power is on course to achieve its growth potential. The company is harnessing technology and innovation to transform India into a power-surplus nation, and provide quality and affordable electricity for all.