Ahmedabad : Adani Transmission Limited (“ATL”), the largest private transmission company in India and part of the globally diversified Adani portfolio, today announced its financial and operational performance for the year ended 31 March 2022.
Financial Highlights – Consolidated (Transmission and Distribution(3)):
| Particular (Rs. crore) | FY22 | FY21 | Change % | Q4FY22 | Q4FY21 | Change % |
| Revenue(1,2) | 10,184 | 8,840 | 15.2% | 2,582 | 2,276 | 13.5% |
| Operational EBITDA(1,2) | 4,659 | 4,233 | 10.1% | 1,226 | 1,034 | 18.5% |
| Total EBITDA | 5,493 | 5,066 | 8.4% | 1,382 | 1,176 | 17.5% |
| PBT | 1,700 | 1,620 | 5.0% | 362 | 370 | -2.1% |
| PAT# | 1,236 | 1,290 | -4.2% | 237 | 257 | -7.6% |
| EPS (Rs.) | 8.90 | 9.02 | -1.4% | 1.75 | 1.67 | 5.2% |
| Cash Profit | 3,039 | 2,929 | 3.8% | 763 | 639 | 19.4% |
- #Consolidated PAT at Rs. 1,236 cr in FY22 ended 4.2% lower due to deferred tax recognition in Distribution business in FY21; whereas Q4 PAT of Rs. 237 cr was lower by 7.6% on account of net forex movement (MTM) of Rs. 82 Cr in Distribution business
- Consolidated revenue witnessed double-digit growth of 15.2% in FY22 and 13.5% in Q4
- Consolidated EBITDA of Rs. 5,493 cr in FY22 grew 8.4% yoy and Rs. 1,382 cr in Q4FY22 was up 17.5% yoy on account of higher revenue in both transmission and distribution segments
- Strong revenue and EBITDA performance translated into higher PBT at Rs. 1,700 Cr, up 5.0% in FY22
- Consolidated cash profit at Rs. 3,039 cr, up 3.8% in FY22. Q4 cash profit of Rs. 763 cr was higher by 19.4% yoy
Segment-wise Financial Highlights:
| Particulars (Rs. crore) | FY22 | FY21 | Change % | Q4FY22 | Q4FY21 | Change % |
| Transmission | ||||||
| Operational Revenue(1,2) | 3,217 | 2,792 | 15.2% | 845 | 720 | 17.4% |
| Operational EBITDA(1,2) | 2,968 | 2,574 | 15.3% | 773 | 656 | 17.8% |
| Margin (%) | 92.2% | 92.2% | 0.1% | 91.4% | 91.1% | 0.3% |
| Total EBITDA | 3,397 | 2,988 | 13.7% | 799 | 674 | 18.4% |
| Distribution(3) | ||||||
| Revenue | 6,966 | 6,048 | 15.2% | 1,737 | 1,556 | 11.6% |
| Operational EBITDA | 1,692 | 1,660 | 1.9% | 453 | 378 | 19.8% |
| Total EBITDA | 2,096 | 2,078 | 0.9% | 583 | 502 | 16.2% |
- Growth in transmission business was driven by newly commissioned lines
- Distribution business revenue growth was better on account of strong energy demand and better collection efficiency
Notes: 1) Q1FY22 Operational Revenue and Operational EBITDA doesn’t include arrears of Rs. 304 Cr. (excluding arrears adjustments of Rs. 16 Cr.) approved in MERC order in June’21 determining and allowing MEGPTCL to claim incremental Aggregate Revenue Requirement (ARR). Based on Appellate Tribunal for Electricity order (APTEL), the company has recognised one-time revenue of Rs. 330 Crs in Q1FY21 which was not included in Q1FY21 Operational revenue and Operational EBITDA; 2) Q3FY22 Operational Revenue and Operational EBITDA doesn’t include Rs. 10 Cr reversal in ATIL asset due to CERC order; 3) Distribution segment includes AEML Mumbai and MUL Mundra utilities.
Segment-wise Key Operational Highlights:
| Particulars | FY22 | FY21 | Q4FY22 | Q4FY21 |
| Transmission business | ||||
| Average Availability (%) | 99.7% | 99.8% | 99.9% | 99.8% |
| Transmission Network Operationalised (ckm) | 1,104 | 780 | – | 31 |
| AEML Distribution business | ||||
| Supply reliability (%) | 99.99% | 99.99% | 99.99% | 99.99% |
| Distribution loss (%) | 6.55% | 7.82% | 4.97% | 7.56% |
| Units sold (MU’s) | 7,972 | 7,169 | 1,884 | 1,826 |
- Operationalized 1,104 ckm in FY22 (41.5% higher yoy) and maintained system availability above 99.7%
- Energy demand (units sold) improved by 11% yoy in FY22 and 3% yoy in Q4 on account of significant rise in commercial segment and industrial segment demand
- Distribution losses remains low in FY22 on account of higher collection efficiency and loss reduction measures
Recent Developements, Achievements and Awards:
- DJSI – S&P Global Corporate Sustainability Assessment (CSA) ESG rankings – Score of 63/100 vs. 52 last year (up by 21%)
- ATL rain-harvested over 233 million liters of water and re-used which is equivalent to annual drinking water requirement of over 1.16 lakh people. This demonstrates our unmatched commitment towards sustainability
- Greentech Corporate Governance Award 2022 for Excellence
- Platinum, Gold and Silver award in Environmental and Economic Sustainability Category from CII
- Felicitation from Ministry of New and Renewable Energy (MNRE) for submission of energy compact goals at United Nations at COP26
- Safety Excellence Award 2021 for outstanding Safety excellence from Greentech
- Project Finance International’s (PFI) Asia Pacific Indian Deal Of The Year Award for USD 700 Mn revolving facility
- Greentech Transformative Human Resource Award 2021
Mr. Anil Sardana, MD & CEO, Adani Transmission Ltd said “Adani Transmission is constantly evolving and becoming a significant player in T&D sector. ATL’s robust growth pipeline and recently operationalised projects will further strengthen its Pan-India presence and consolidate its position as the largest private sector transmission & distribution company in India. ATL is consistently benchmarking to be the best-in-class and is pursuing disciplined growth with strategic and operational de-risking, capital conservation, ensuring high credit quality and business excellence with high governance standards. The journey towards a robust ESG framework and practicing a culture of safety is integral to its pursuit of enhanced long-term value creation for all stakeholders.”
