RELIANCE POWER LIMITED
FY 2011 RESULTS
HIGHLIGHTS
TOTAL INCOME OF Rs.1,892 CRORE FOR THE YEAR
AN INCREASE OF 124%
OPERATING REVENUES UP
FROM Rs.21 CRORE TO Rs. 1,024 CRORE
FIRST YEAR OF OPERATING PROFITS
FROM GENERATING ASSETS AT Rs.416 CRORE
NET PROFIT OF Rs.760 CRORE FOR THE YEAR
AN INCREASE OF 11%
NET WORTH OF Rs.16,833 CRORE
Ø India’s largest private sector company in the power sector
Ø Capacity to increase over 8 times - from 600 MW to 5,000 MW in the next 18 months.
Ø Phase 1 (600 MW) of the 1200 MW coal-based Rosa Project at Uttar Pradesh consistently operating at over 90% PLF.
Ø Rosa Phase 2 (600 MW) progressing ahead of schedule, to be commissioned in FY2011-12.
Ø 600 MW coal-based Butibori Project in Maharashtra also ahead of schedule, to be commissioned in FY 2011-12.
Ø 3960 MW coal-based Sasan Ultra Mega Power Project (UMPP) in Madhya Pradesh progressing as scheduled, first unit to be commissioned in 2012.
Ø Physical work commenced at 20 MTPA Moher and Moher-Amlohri coal mines of Sasan UMPP – coal production to start in 2012
Ø India’s largest gas based power project, the 2,400 MW Samalkot Project is progressing ahead of schedule. All gas turbines to be commissioned before end of this year.
Ø RESULTS TABLE :
The Results table indicates that for a net sales Income of Rs. 1054.76 Cr for FY 2011, Profit from Operations is Rs.153.80 Cr, Profit before tax is Rs.772 cr (after adding other Income of Rs. 837.72 cr); Consolidated Net Profit is Rs.760.44 cr and Basic EPS is Rs.2.94
With huge capacities expected to become operational in next 18 months – and many of them expected to be commissioned in FY 2012 – Reliance Power can now be said to be on FAST TRACK – and turning decisively profitable.
| FY 2011 (LAKHS) | |
| Net Sales from Operations | 105476.3 |
| Consumption of Raw Materials | 60324.67 |
| Purchase of traded goods | 433.43 |
| Employees Cost | 7690.25 |
| Depreciation | 10088.05 |
| Other Expenditure | 11559.82 |
| Total Expenditure | 90096.22 |
| Profit from Operations | 15380.08 |
| Other Income | 83771.8 |
| Interest | 21952.03 |
| Profit before tax | 77199.85 |
| Tax Expense | 1155.82 |
| Net Profit | 76044.03 |
| Consolidated Net Profit | 76044.03 |
| Face Value (in Rs.) | 10 |
| Paid-up Equity Share Capital | 280512.65 |
| Reserves | 1402818.57 |
| Basic EPS (in Rs.) | 2.94 |
| Public Shareholding (%) | 19.58 |
KEY HIGHLIGHTS
Operating capacity:
• 600 MW Rosa Power Plant Phase I in Uttar Pradesh became fully operational during the year and has been consistently running at a PLF of over 90%. The company registered first year of operational revenues of ì 1,024 crore with operating profits of ì 416 crore.
Capacities under construction:
• Projects’ progress is on track. Company to commission 5,000 MW capacity by 2012.
• Boiler hydro test has been completed at the 600 MW Rosa Power Plant Phase II in Uttar Pradesh and the project is on track for being commissioned ahead of schedule, in financial year
2012.
• Boiler drum lifting has been completed at the 600 MW Butibori Power Plant in Maharashtra and other activities are progressing as per schedule for commissioning of the first unit by March 2012.
• Construction activities are progressing as per schedule at the 3,960 MW Sasan Ultra Mega Power Project in Madhya Pradesh and the first unit is expected to be commissioned in 2012. The Project got registered with CDM-EB allowing it to earn 2.25 million certified emission reduction (CER) credits per year estimated to be worth over Rs.2,000 crore over 10 years.
• India’s largest gas based power plant, the 2,400 MW Samalkot Project in Andhra Pradesh is progressing ahead of schedule and all the gas turbines will be commissioned in this year. The first two gas turbines have been dispatched from GE works in USA and are due for arrival at the site in early June 2011.
Progress at Coal mining and CBM blocks:
• Physical work commenced at the Sasan coal mines and mining equipments from Bucyrus, USA are set to arrive at the site in June 2011. Coal production is expected to begin in 2012, ahead of the commissioning of the Sasan UMPP.
• Approval for the mine plan for producing 40 MTPA from Tilaiya coal mines has been received from the government of India. Development activities under progress.
· Exploratory work has commenced in all the four CBM blocks of the Company and drilling work has started in the Sohagpur (North) block in Madhya Pradesh.
About Reliance Power Limited
Reliance Power Limited has an operating portfolio of 600 MW and is implementing power projects with aggregate capacity of over 37,000 MW, by far the largest development pipeline in the country.
The company also has the largest captive coal reserves in the private sector, estimated at more than two billion tones. Besides this, the company has purchased 3 coal mines in Indonesia and also has plans to develop coal bed methane based generation capacity.
RECENT ANNOUNCEMENTS TO NSE
28-05-2011 : 1,30,228 Global Depository Receipts (GDRs) issued by Reliance Power Limited pursuant to the Composite Scheme of Arrangement, inter alia, between Reliance Natural Resources Limited (RNRL), the Company and others as approved by the Court of Judicature at Bombay on October 15, 2010, have been listed at the Euro MTF Market at Luxembourg since May 17, 2011.
27-05-2011 media release dated May 27, 2011, titled "TOTAL INCOME OF RS. 1892 CRORE (US$ 424 MILLION) FOR THE YEAR - AN INCREASE OF 124%".
27-05-2011 consolidated Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 105476.3 lacs for year ending on 31-MAR-2011 against Rs. 2072.36 lacs for the year ending on 31-MAR-2010. Net Profit / (Loss) of Rs. 76044.03 lacs for the year ending on 31-MAR-2011 against Rs. 68389.49 lacs for the year ending on 31-MAR-2010.
27-05-2011 standalone Results for the year ended on 31-MAR-2011 as follows: Net Sales of Rs. 3637.85 lacs for year ending on 31-MAR-2011. Net Profit / (Loss) of Rs. 27454.62 lacs for the year ending on 31-MAR-2011 against Rs. 27323.31 lacs for the year ending on 31-MAR-2010.
28-03-2011 the Company has on March 25, 2011 allotted 43,860 equity shares upon conversion of Foreign Currency Convertible Bonds.
14-02-2011 media release dated February 14, 2011, titled "NET PROFIT OF RS.143.61 CRORE (US$ 32.1 MILLION) FOR THE QUARTER- AN INCREASE OF 7.5%".
14-02-2011 standalone Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 1179.88 lacs for quarter ending on 31-DEC-2010. Net Profit / (Loss) of Rs. 3488.88 lacs for the quarter ending on 31-DEC-2010 against Rs. 2838.69 lacs for the quarter ending on 30-SEP-2010.
14-02-2011 consolidated Results for the quarter ended on 31-DEC-2010 as follows: Net Sales of Rs. 25129.36 lacs for quarter ending on 31-DEC-2010 against Rs. 16869.44 lacs for the quarter ending on 30-SEP-2010. Net Profit / (Loss) of Rs. 14360.93 lacs for the quarter ending on 31-DEC-2010 against Rs. 23480.01 lacs for the quarter ending on 30-SEP-2010.
03-02-2011 press release dated February 03, 2011, titled "Reliance Power's 4,000 MW Sasan Power Project in Madhya Pradesh, gets approval for carbon credits".
15-12-2010 media release dated December 15, 2010, regarding conclusion of largest project financing by Chinese Banks in respect of Company's 3960 MW Sasan Ultra Mega Power Project (UMPP).
15-12-2010 the wholly owned subsidiary Rajasthan Sun Technique Energy Private Limited has been awarded through competitive bidding a Letter of Intent (LOl) by NTPC Vidhyut Vyapar Nigam Limited (NVVNL) for purchase of 100 MW of Solar Power under the Jawaharlal Nehru National Solar Mission (JNNSM). The sale of power would be from the Solar Thermal Power Project being set up by the Company in the State of Rajasthan.
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