Adani Transmission Ltd announces Consolidated Results for Q2FY22 and 1HFY22

Adani Transmission Ltd announces Consolidated Results for Q2FY22 and 1HFY22

Adani Transmission Limited (“ATL”) today announced its financial and operational performance for the quarter ended 30th September 2021.

Ahmedabad: Adani Transmission Limited (“ATL”), the largest private transmission company in India and part of the globally diversified Adani Group, today announced its financial and operational performance for the quarter ended 30th September 2021.

Financial Highlights – Consolidated (Transmission and Distribution):

• Double-digit growth in consolidated revenue on account of strong growth in both transmission and distribution segments.

• Strong revenue and EBITDA trends translating into PAT increase of 34.9% yoy and 26.8% yoy on quarterly and semi-annual basis.

Segment-wise Financial Highlights:

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• Growth in transmission business was supported by incremental contribution from newly operational lines and recently acquired Alipurduar asset.

• Distribution business revenue growth was driven by higher energy sales and better collection efficiency.

• The growth opportunity in Transmission and Distribution business continues to be very promising.

Segment-wise Key Operational Highlights:

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• In Q2FY22, ATL operationalized 486 ckm and maintained system availability of 99.4%

• Distribution loss remains low at 7.64% in Q2FY22; the distribution loss(2) of 3.19% in Q2FY21 is not comparable YoY as meter reading as per guidelines was paused in Q1FY21 which resumed in Q2FY21

• Energy demand improved by 13.4% to 1,975 units on account of rise in commercial segment

ESG Highlights:

Environment and Climate Aspects:

• ATL has expressed its alignment with SBTi. In order to advance on its alignment, the company has joined CDP’s “Science Based Targets initiative Incubator Project” (SBTiIP). ATL has already rolled-out several initiatives towards its ESG strategy including its role in global climate action. In a first-of-its-kind initiative in the country, ATL’s distribution arm in Mumbai has rolled out Green Power and Tariff option to consumers for reduction in carbon footprint. The consumers opting for the green tariff structure receive a Green Power Certificate every month.

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• ATL has become Signatory to the UN Energy Compact to further the SDG 7 (Affordable and Clean Energy). ATL’s Energy Compact is accepted by the United Nations and will be showcased at the COP 26 meeting in Glasgow, UK. The submission of Energy Compact highlights ATL’s aspiration and ambition to contribute in clean energy transition to meet the Paris accord as well as ATL’s commitment to meet the 2030 agenda of Sustainable Development Goals. Since affordable, clean energy is a prerequisite for achieving all other SDGs and the Paris Agreement, ATL has committed to and joined this Energy Compact initiated by the United Nations.

Corporate Governance – Board Charter

• At present, both Audit Committee and Nomination and Remuneration Committee at ATL comprise 100% Independent Directors

• To further improve and implement world-class governance practices, the board has approved the following:

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Anil Sardana, MD & CEO, Adani Transmission Ltd said “Adani Transmission is constantly evolving and becoming a significant player. ATL’s robust growth pipeline and recent acquisitions will further strengthen its pan-India presence and consolidate its position as the largest private sector transmission company in India. This will help the company move closer to its goal of 20,000 ckm of transmission lines by 2022. ATL is consistently benchmarking to be the best-in-class utility 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.”

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About Adani Transmission Limited: Adani Transmission Limited (ATL) is the transmission and distribution business arm of the Adani Group, one of India’s largest business conglomerates. ATL is the country’s largest private transmission company with a cumulative transmission network of ~18,300 ckm, out of which ~13,700 ckm is operational and ~4,600 ckm is at various stages of construction. ATL also operates a distribution business serving about 3 million+ customers in Mumbai. With India’s energy requirement set to quadruple in coming years, ATL is fully geared to create a strong and reliable power transmission network and work actively towards serving retail customers and achieving ‘Power for All’ by 2022.

first published:Oct. 30, 2021, 6:19 p.m.

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