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 Q4 FY24 Conference Call hosted by Nuvama Wealth Management.

As a reminder, all participant lines will be in the listen only mode and there will be an opportunity for you to ask questions after the presentation concludes.

Should you need assistance during the conference call, please signal an operator by pressing “*” then “0” on your touchtone phone.

I now hand the conference over to Mr. Subhadip from Nuvama.

Thank you and over to you, sir.

Subhadip

Thank you.

Good evening, friends.

On behalf of Nuvama Institutional Equities, welcoming you all to the fourth quarter FY24 Results Call of NTPC.

We have with us today, the top management of NTPC represented by Mr. Jaikumar Srinivasan, Director (Finance); Mr. Shivam Srivastava, Director (Fuel); Mr. K Shanmugha Sundaram, Director (Projects) and Mr. Ravindra Kumar, Director (Operations).

I would now like to hand over the call to Mr. Srinivasan for his opening comments.

Over to you, Sir.

Moderator · Conference Operator

Thank you.

The next question is from the line of Sumit Kishore from Axis Capital.

Please go ahead.

Sumit Kishore

My first question is related to the renewable pipeline projects.

So, in auctions which were concluded in FY24, what was the NTPC's win across wind-solar, hybrid, FDRE basically all RE auction, that is the first question?

Moderator · Conference Operator

Thank you.

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

Please go ahead.

Subhadip

Just wanted to check, if you can help us with the adjusted PAT number for the fourth quarter and for full year FY24?

NTPC Limited May 24, 2024

Moderator · Conference Operator

Thank you.

The next question is from the line of Dhruv Muchhal from HDFC Asset Management Company.

Please go ahead.

Dhruv Muchhal

Sir, the government is seeking gas-based plants to run and giving an allowance of about 1.2 times the gas cost.

I believe we have this Ratnagiri plant which I think is not under PPA, so do we stand to gain there and are there any other gas plants that will also probably benefit out of this scheme?

Moderator · Conference Operator

Thank you.

The next question is from the line of Girish from Morgan Stanley.

Please go ahead.

Girish

I may have missed this.

So, can you help us with the commissioning outlook for the coal based plants for the FY25 and FY26 and if you can help with the plant names?

Moderator · Conference Operator

Thank you.

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

Please go ahead.

Atul Tiwari

Sir, could you just mention the standalone regulated equity again, I just missed that?

Moderator · Conference Operator

Thank you.

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

Please go ahead.

Nikhil Nigania

My question is on the renewal listing plans.

In the earlier discussion that was brought up that you want the business to be a certain size before it is listed, but given that the renewable commissioning has been slow due to the reasons mentioned earlier, land, module availability, just wanted to understand, if you could share, why the rush to list it so soon in October, November, why not wait for some time and wouldn't equity funding become a challenge once it is separated from the parent for the big pipeline?

Moderator · Conference Operator

Thank you.

The next question is from the line of Shashi Ranjan.

Please go ahead.

Shashi Ranjan

Can you just help us that for the CAPEX there is 70:30 debt equity that we are planning and in view of the interest that we are incurring is 6.67%, any measures to cut down the gearing ratio for better valuation of the company or investing those money into green technologies like battery energy storage system?

Moderator · Conference Operator

Thank you.

Ladies and gentlemen, we would take that as our last question for today.

I would now like to hand the conference over to Mr. Subhadip for closing comments.

Subhadip

Thank you.

I would like to thank the management of NTPC for giving us this opportunity to host the call.

Any closing remarks from your side, Sir?

Moderator · Conference Operator

Thank you.

On behalf of Nuvama Wealth Management, that concludes this conference.

Thank you for joining us.

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.

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

Please go ahead.

Mohit Kumar

The first question is on the thermal power plant.

I think you mentioned 15.2 GW which you were looking to award in near future.

Can you give us a year wise plan for this capacity which you are looking to award, fiscal year wise?