Adani Transmission Ltd. (“ATL”), a part of the Adani Group, today announced the financial results for the quarter.
COVID-19 impact:
Transmission: Power sector is an essential service with must-run status. Our lines are operating at
99.9% availabilities and there is no adverse impact on billing.
Distribution: Due to lockdown, even though power demand is down due to lower consumption by
industrial and commercial consumers slightly offset by retail demand, Distribution business being
a regulated asset there is no significant impact on EBIDTA margin.
Liquidity position: The Company maintains enough liquid investments and working capital lines to
meet its obligations in FY21.
Because of COVID-19, there was no impact on Transmission business, however, distribution business got affected due to lower power demand from C&I customers which had an impact on overall consolidated performance. However, the Company is also entitled to delay payment surcharge for delayed payment by customers.
Other Key Highlights:
Acquisition of “KhargharVikhroli Transmission Private Limited” from Maharashtra State
Electricity Transmission Company Ltd.
Signed SPA agreement with Kalpataru Power Transmission Limited for the acquisition of
“Alipurduar Transmission Limited” in July 2020.
Economic activity in Mumbai is picking up post relaxation in lockdown. We noticed
improvement in power demand in July 2020 and accordingly the collection scenario has
improved substantially.
Note 1: Q1FY21 Operational Revenue and Operational EBITDA doesn’t include Rs. 330 Cr. APTEL order in favour of MEGPTCL *ASAI – Average Service Availability Index
Speaking on the performance of the company, Mr Gautam Adani, Chairman, Adani Group, said, “We
are steadfast in our pursuit of energizing and ensuring continuous power supply across all regions
through our assets in India. Adani Transmission is well-positioned to deliver exponential growth and we
are working towards fulfilling our nation’s electricity needs and strengthening our position as a world-class utility. Our increasingly sustainable practices will help ensure ESG driven goals, one that will benefit not only key stakeholders but the entire nation”
Mr Anil Sardana, MD & CEO, Adani Transmission Ltd, said, “Adani Transmission has evolved over the past few years from a high growth developing company to a growing cum mature asset operation company with minimal throughput risk. ATL is constantly benchmarking to be best in class and is
pursuing focused approached to be world-class integrated utility through development agenda coupled
with de-risking of strategic and operational aspects, capital conservation, ensuring high credit quality and forging strategic partnerships for business excellence and high governance standards. ATL is striving to achieve consumer participation and 24×7 quality power supply despite being disrupted by health and pandemic challenges. The journey towards robust ESG framework and practising a culture of safety is being made integral to its pursuit for enhanced long-term value creation for all stakeholders”
