NTPC — earnings call

The transcript as filed. Every paragraph is addressable: its link names the page and the position it sits at in the call.

Prepared remarks

Moderator · Conference Operator

Ladies and gentlemen, good day and welcome to the NTPC Limited Q2 FY24

Thank you.

The next question is from the line of Apoorva Bahadur from Goldman Sachs.

Please go ahead.

Apoorva Bahadur

Hi Sir thank you for the opportunity.

So, can you share the fixed cost under recovery figures for Q2?

Moderator · Conference Operator

Thank you.

The next question is from the line of Nikhil Nigania from Alliance Bernstein.

Please go ahead, sir.

Nikhil Nigania

Thank you for taking my question.

My question is on the renewable side.

Wanted to understand if there is any update on the investment envisaged in the renewable business and plans to list the renewable business separately?

Moderator · Conference Operator

Thank you.

The next question is from the line of Abhishek Maheshwari from Sky Ridge Wealth Management.

Thank you so much.

Abhishek

Thank you for the opportunity.

Sir only one question.

It is regarding understanding your borrowing strategy.

So, as we understand it, currently you are generating more than enough cash to sufficiently pay off all your capex expenses and I understand that all the power projects are formulated on the basis of a mix of debt and equity but is it necessary for you to take the debt to finance a project or can you finance it through your internal accruals also?

So just wanted NTPC Limited May 19, 2023 to understand do you have a planned peak debt for your books or is it something that will keep coming on as you take new projects?

Moderator · Conference Operator

Thank you.

The next question is from the line of Subhadip Mitra from Nuvama.

Please go ahead.

Subhadip Mitra

Good evening and thank you for the opportunity.

I got disconnected from the call earlier so if you have already answered this could you help us with the adjusted PAT number both for standalone and consolidated for the quarter?

Moderator · Conference Operator

Thank you.

The next question is from the line of Nikhil Abhyankar from ICICI Securities.

Please go ahead.

NTPC Limited May 19, 2023

Nikhil Abhyankar

Thank you, Sir.

Thanks for the opportunity.

Sir, my first question is why was our under recovery high in Q2 and are there any specific reasons for it?

Moderator · Conference Operator

Thank you.

The next question is from the line of Gaurav Lohia from Bowhead India Fund.

Please go ahead.

Gaurav Lohia

Sir, just wanted to check what is the adjusted PAT for Q2 FY24?

Moderator · Conference Operator

The next question is from the line of Rajesh Majumdar from B&K Securities.

Please go ahead.

Rajesh Majumdar

Yes Sir.

So, I had a couple of questions.

What is the status of pump hydro projects which is going on right now at THDC, which was supposed to be commissioned this year and what is the expected profitability from that project?

Moderator · Conference Operator

Thank you.

The next question is from the line of Dhruv Muchhal from HDFC AMC.

Please go ahead.

Dhruv Muchhal

Yes Sir.

Thank you so much.

Sir you mentioned that you have 14 GW of pump hydro project now assuming that you get the financial closure done and the ET and FT cleared over a period of time how many of these projects do you have go ahead from the state government to start constructing if all these procedures are done already if you have approvals from the state government.

Moderator · Conference Operator

Thank you.

The next question is line is from the line of Atul Tiwari from Citi.

Please go ahead.

Atul Tiwari

Yes, Sir thanks a lot.

Sir on these 14 GW of PSP project will you be filing a regulated ROE PPA or is it like a fixed tariff for per kilo watt of power storage.

For the pump storage projects I am asking.

Moderator · Conference Operator

Thank you.

That was the last question.

I now hand the conference over to the management for closing remarks.

Thank you.

On behalf of B&K Securities that conclude this conference.

Thank you for joining us and you may now disconnect your lines. ***********************************

Questions and answers

Moderator · Conference Operator

Thank you very much.

We will now begin the question and answer session.

The first question is from the line of Mohit Kumar from ICICI Securities.

Please go ahead.

Mohit Kumar

My first question is on the thermal coal pipeline.

You just mentioned that you are looking to award 11.2 GW (Gigawatt).

How much is coming in standalone and how much you are looking to award in this fiscal and if you can name those power plants it will be very helpful.