Thinking big

Doing better
 Adani Group

New Form & New Substance

2
Adani Group: New Form & New Substance

Structure

Promoters

56.26% 58.13%
75.00%
75.00%

AEL APSEZ APL ATL

25.00% 43.74% 41.87% 25.00%

Public

3
Adani Group - Business

Coal Ports Power Transmission

50%+ market share Owning a large network Largest Private Power 5000+ ckt Kms
Coal Mining of ports, rail lines, ships producer in India Mundra-Dehgam
Coal Trading Ports Mundra (4620 MW) Mundra-
Agro Multi Modal Logistics Tiroda (3300 MW) Mohindergarh
City Gas Distribution Special Economic Kawai (1320 MW) Tiroda-Warora
Zones Udupi (1200 MW) Tiroda-Aurangabad
Avantha* (600 MW)

India: India: India: India:

Largest trader of Coal No. 1 Port of India Generation: Transmission:
Largest mine developer & Largest indigenous 11040 MW thermal 5051 ckt kms
operator Ports Developer & capacity transmission capacity
Indonesia: Operator 40 MW Solar Power Indias largest private
Resource 269 mn tn 8 Ports / Terminals Plant transmission company
Mine life: 15 yrs Largest Private Rail Largest Private Power
Australia: Developer producer in India
JORC Resource: 11 bn ton
Mine life:100 yrs
100 mtpa (peak)

* Under Finalization 4
 Resources Logistics Energy

Power
Coal Trading Sea Ports
Generation
Coal Mining Railways Transmission
Agro

5
Indian Coal: Supply Side
Incremental
Production of
Coal Ministry: India Coal Reserves 420 MMPTA by
125 Bn MT 60.6 Bn MT* FY20

Coal India Limited Allocation / Auction

To be Auctioned
Reserves: 21.8 Bn MT Reserves: 8.1 Bn MT
Reserves: 8 Bn MT
Production FY15: 494 MMT Production FY15: 54 MMT
Peak Production: 215 MMTPA
Production FY20: 700 MMT Peak Production: 217 MMTPA

Power Non Power

Reserves: 7.3 Bn MT Reserves: 0.8 Bn MT
Peak Production: 194 MMTPA Peak Production: 23 MMTPA

Recently allocated/auctioned mines capable to cater to ~48 GW generation capacity for

30 years
6
 The Great Coal Equation
All India Installed Capacity: 272 GW (Mar-15), of which Thermal 189 GW

Recent Coal Auctions (194 MMTPA) will take care of the ~48 GW1 generation capacity

Projects Stuck: 74 GW* - Coal Req: 333 MMTPA @4.5 MMTPA per
GW for coal GCV
Additional Capacity by FY20: 63 GW** - Coal Req: 284 MMTPA 3500 Kcal/Kg

Additional thermal coal demand by FY20: 617 MMTPA

Incremental production would be ~420 MMTPA (220 (CIL) + 200 (to be auctioned))

200

205 205

2015 2020

Additional thermal coal imports of ~200 MMTPA by FY20

Note: 1. Out of coal blocks auctioned, operational mines have capacity of 63 MMPTA, thus catering to
only 15 GW out of 48 GW
Source: 7
* Economic Times Article, ** XII Five Year Plan report
 Coal Trading: Integrated Coal Management
Customer
Multi-Country Financing Multi modal
Account
Procurement Logistics
Management
Coal
Business
Consistent Market
share in electricity
Electricity Private Adani Third
business ~50%
Yamunagar
Boards Business Power Ltd Country Suratgarh Panipat
Hissar Harduaganj

Dadri Tanda Vindyachal

Kota Unchahar Kahalgaon

Badarpur
Parichha Sagardighi
Chhabra Rihand Bakreshwar
Kandla Mejia Bandel
Panki Durgapur
Wanabori
Mundra Kolaghat
Bedi
Gandhinagar
Navlakhi
Sipat
Korba [Talcher] Haldia Indonesia
Dahej Koradi Tiroda Tarakan
Paradip Samarinda Tanjung Bara
Hazira Chanderpur Bontang

Parli
Ramagundam Vishakhaptnam
Simhadri
Kondapalli Gangavaram Muara Satui
TanjungIndonesia
Kakinada
Pemancingan
Richard Bay Goa

South Ennore
North Chennai
Africa Mettur Tuticorin
Queensland

Ports
Australia
Locations served Tuticorin

A team of 200+ People with operations spread across globe through our 25 satellite offices, 18 branch
offices, 3 global offices and a head office based out of Gurgaon
8
MDO Another Big Growth Opportunity

Allocation / Auction
Reserves: 8.1 Bn MT
Production FY15: 54 MMT
Peak Production: 217 MMTPA

Government Sector Private Sector

Reserves: 6.2 Bn MT
Commercial
Reserves: 1.9 Bn MT
Peak Production: 152 MMTPA Peak Production: 63 MMTPA Mining

Additional Future Allocation/Auction

MDO opportunity of >150 MMTPA by FY20 + Private + Commercial

Source: Ministry of Power, Morgan Stanley Research Report 9

 Coal Mining: Largest Mine Developer & Operator

State Chhattisgarh

Parsa Kente
Parsa -Kente
Mine (RRVUNL) (RRVUNL)
Extension
(RRVUNL)

Block Area (Sq Km) 27.67 12.52 17.00

MundraKandla

Kente Ext
Dahej Port Mineable Reserve 452 150 200
Hazira Port Dhamra (Mn MT)

Vizag Parsa Kente Capacity at peak

15 5 7
Mormugao Port Parsa level (MMTPA)

Commencement Started
2018 2019
of Production Feb 13

Ports
Mining Locations

Notes:
1. RRVUNL Rajasthan Rajya Vidyut Utpadan Nigam Limited ; 2. MGCL Mahaguj Collieries Ltd. ; 3. CSPGCL Chhattisgarh State Power Generation Company 10
Limited 4. UCMCCL - UCM Coal Company Limited
Coal Mining: Indonesia

Bunyu Island

Coal Mining

Indonesia

Particulars Capacity
Bunyu Island, Coal Crushing
Location
Indonesia
Resource 269 MMT (JORC)

Current Capacity 7 MMPTA

Production FY15: 5 MMT

Coal Loading

11
Australia Mine: Funding Plan and Timeline
USD mn

Particulars Mine Particulars Mine

Total Capex 4,200
Open Cut Mining 28 MMT Debt 2,940
First Coal Open Cut Aug-17 Project Finance 2,140
Equipment Financing 800
Underground Mining 14 MMT
Equity 1,260
First Coal Underground Mar-18 Of which already invested 900

Timeline Carmichael Coal Mine

Q1 2015 Off-Site & On-Site Infra Construction Commencement

Q4 2015 Financial closure

Q3 2017 Open Pit E - First Coal

Q4 2017 Open Pit D - First Coal

Q1 2018 Underground 1 System Cut First Coal

Q3 2018 Underground 2 System Cut First Coal

12
Agro
Edible Oil & Agro commodities
Joint venture with Wilmar, Singapore
FORTUNE - Indias number 1 edible oil brand with more than 20% market share
(AC Nielson)
Revenues in excess of $ 2.5 Bn
Volumes more than 3.5 MMTPA
Expanding into more agro products such as Rice, Pulses. Soya nuggets etc
Major Exporter of Castor Oil/derivatives and Soya De-oiled cake
Manufacturing facilities spread across 18 locations pan India with 10k refining
& 7k crushing capacity

Agri Infrastructure: Fruits

Capacity of 21000 MT of storage of Apple
State of Art Control Atmosphere Storage facility at 3 locations in Himachal
Pradesh
Distribution set up across India under brand Farm-Pik
One of largest importer of fruits into India

Agri
AgriInfrastructure: Food
Infrastructure: Grains
Food Grains
Operates storage capacities of 6,00,000 MT at 7 locations across India
Another 3,50,000 MT in development across 7 locations in Madhya Pradesh
State of Art mechanized storage facilities with private railway siding
Operates storages facilities under Build Own Operate model for FCI for 20 years

13
 Resources Logistics Energy

Power
Coal Trading Sea Ports
Generation
Coal Mining Railways Transmission
Agro

14
 Ports & Logistics: Huge Growth Potential
Only pan India port company with 8
ports across Indian coastline
7 operational ports; 1 under
Ports implementation
Multi Commodity Ports: >300 mtpa
capacity
Preferred Indian Partner of Global Liners

Kandla
Mundra
Established connectivity infrastructure
Dahej including rail, road and pipe line
Hazira Dhamra
120 km railway line on the west coast; 63
Logistics km railway line at Dhamra on the east
Vizag
Development of Inland Container Depots
Mormugao and container rail movements across
country

Ennore

SEZ land leases complementing business

models of Ports and Logistics at Mundra
SEZ Area of 6,641 Hectares
SEZ
Diverse clientele of storage for refineries,
Major Ports where APSEZL has terminals power generators, automobile industry
Non major ports - APSEZL and other industrial consumers

15
Ports & Logistics: DFC / DMIC - the Growth Catalysts
Feature Existing DFC
Container stack Single Double
Train length 700m 1,500m
Train load 4,000 tons 15,000 tons
Axle load 22 tons 32 tons
Maximum speed 75 km/ hr 100 km/ hr New Delhi
Gurgaon
Mathura
Status Alwar
Jaipur Agra
Mundra to be connected to DFC through Ajmer
Palanpur ( ~350 km) Marwar
Kota
To be connected via Kutch Railway Company Bhildi Palanpur
Adipur
Ltd. (Budget for dovetailing to DFC Ratlam
Samakhiali
approved) Kandla
Mundra Vadodara Godhara
Advantage: Port Dahej
Surat
Faster trains, improving transit time by 50% Hazira
Pipavav
Vasai Road
Higher capacity trains, increased capacity of
JNPT
infrastructure

DFC Proximity to Adani Ports: Future evacuation Infrastructure Assured

Source: Dedicated Freight Corridor Corporation of India Ltd (http://dfccil.org), 16
Ports & Logistics: Dhamra - Mundra of the East

Only port in East with deep Draft for larger vessels

Gateway for Mining, Power and Steel Industry

Potential coastal shipping hub

Potential Transshipment Hub:

NW 1 No large vessel facility between Paradip & Chittagong

Gateway for Inland Waterways connecting north east

Dhamra
NW 5
Master Plan of Total 17 berths;
Dhamra:
Mega Port in 12 bulk, 4 container, 1 LNG Terminal
the making
Phased Growth to reach 100 mtpa

Dhamra: Enabling APSEZ to be a PAN India Port Company

Coal Basins and Fields 17

 Resources Logistics Energy

Power
Coal Trading Sea Ports
Generation
Coal Mining Railways Transmission
Agro

18
Power: Sectoral Demand continue to rise
Peak & Energy Deficit : Year-wise Installed Capacity in India - Category
Units in GW
17% 347
14%
12% 13% 13% 288
12%
11% 32
11%
10% 10% 9% 25 19
8%
9% 9%
8% 9% 200 10 57
5% 25 50
4% 5%
4%
5 240
39 204
132

FY06 FY07 FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15
Peak Deficit Energy Deficit
2012 2017 2020
Average Deficit in the Last Decade:
Thermal Hydro Nuclear Renewables
Peak deficit: 11%; Energy deficit: 8%
India Installed Capacity: 273 GW*
Lowest per capita electricity consumption
Hydro
16000 Thermal 41 GW
14000 13361 189 GW
12000
10000 Renewables
36 GW
kWh

8000 6460
5741
6000
4000 2942 Nuclear
2384
917 6 GW
2000
0
USA Russia UK China Brazil India

Source: 11th & 12th FYP, Ministry of Power, CEA 19

* As on 31st Mar 2015
 Power Generation
Adani Power projects are in high growth states of India. Also Power Generation
these states have financially strong SEBs

Capacity Operation
SN Location
(MW) (MW)

1 Mundra (Gujarat) 4,620 4,620

Kawai

2 Tiroda (Maharashtra) 3,300 3,300

Bitta
3 Kawai (Rajasthan) 1,320 1,320

Korba
4 Udupi (Karnataka) 1,200 1,200
Mundra

Tiroda
5 Korba (Chhattisgarh)1 600 600

Udupi

6 Bitta (Gujarat)2 40 40

Total Capacity 11,080 11,080

1. Under finalization, 20
2. 40 MW Solar Power Project
Power: PPA & Fuel Arrangement

>80% capacity tied up under long tem PPA

~20% merchant market opportunity

~56% of coal requirement tied up through domestic coal supply

Further Reforms

Incremental Coal Allocation by Coal Block Auction and Domestic

Linkages

National Tariff Policy 2015 - to settle tariff issues

Bilateral Solution of Compensatory Tariff being resolved

21
Power Transmission

Transmission Network 5051 Ckt Kms

Mundra-Sami-Dehgam: 400 kV D/C 868 Ckt Km
Mundra Mohindergarh: 500 KV, HVDC Bipole - 2,528 Ckt Km
Tiroda-Warora: 400 kV D/C 438 Ckt Km
Tiroda-Aurangabad: 765 kV 2x S/C - 1,217 Ckt Km
Mohindergarh
Transformer Capacity 12,630 MVA
Availability Factor 99.8%
Dehgam

License Period 25 + 10 years Mundra

Aurangabad Warora

Growth Potential (Ckt Kms)

10,000

5,051

FY15 FY20

22
Adani Group: Business Process Transformation

Tezz Transformation: Components and Key Processes

Disha: Power Operations Ignite: Ports Operations

BPT of Power Operations Group with ATK:
Strategic Planning
Revenue Management
Operations and Maintenance
Fuel Sourcing and Mgmt.
BPT of Ports Operations Group with KPMG :
Marine Operations
Terminal Operations
Engineering Services
Customer Service & Marketing

BPT of Projects with Accenture:

TEZZ BPT of Services with Strategy&*:
Sourcing and Procurement Finance: B2P, O2C, Tax, R2R,
Project Management Treasury, FP&A, ABEX

Engineering IT: Planning, Delivery, Support

Construction and Commissioning HR: TM, TA, L&D, PMS, HR Ops

Agile: Capital Projects Synergy: Services (Finance, IT, HR)

* Formerly Booz & Company

23
Adani Group: CSR Initiatives

Quality education

Underprivileged Children Girl Child Education

Training volunteers for teaching Adani Vidyamandir

Health

Mobile dispensary Teaching sanitation in rural area

Immunization for kids HIV /AIDS awareness campaign

Livelihood development

Vocational training Cattle vaccination

Animal Husbandry Check dam construction

Rural infrastructure development

Pond deepening Other Village Infrastructure

Village drainage system Roads, drinking water, power etc.

24
Adani Group: Our Leadership Position

Leadership Position
Leadership Position in Ports 8 Ports
Our Leadership Position as Private Sector
Generation Co 11,080 MW
Transmission Network 5,051 circuit kms
Coal Trading
Mine Developer and Operator

Sustainable
Growth of
Business
Favorable Macroeconomic Environment

Clear Policy
Framework

25
Legal disclaimer
Certain statements made in this presentation may not be based
on historical information or facts and may be forward-looking
statements, including those relating to general business plans
and strategy of Adani Enterprises Limited (AEL) and Adani
Ports and Special Economic Zone Limited (APSEZ) & Adani
Power Limited (APL), their future outlook and growth
prospects, and future developments in their businesses and
their competitive and regulatory environment, and statements
which contain words or phrases such as will, expected to, change in any manner the content of this presentation, without
etc., or similar expressions or variations of such expressions.
Actual results may differ materially from these forward-looking
statements due to a number of factors, including future
changes or developments in their business, their competitive
environment, their ability to implement their strategies
and initiatives and respond to technological changes and
political, economic, regulatory and social conditions in India.
This presentation does not constitute a prospectus, offering
circular or offering memorandum or an offer, or a solicitation
of any offer, to purchase or sell, any shares and should not
be considered as a recommendation that any investor should
subscribe for or purchase any of AELs shares. Neither this
presentation nor any other documentation or information (or
any part thereof) delivered or supplied under or in relation
to the shares shall be deemed to constitute an offer of or an
invitation by or on behalf of AEL.
AEL, as such, makes no representation or warranty, express
or implied, as to, and does not accept any responsibility or
liability with respect to, the fairness, accuracy, completeness
or correctness of any information or opinions contained
herein. The information contained in this presentation, unless
otherwise specified is only current as of the date of this
presentation.
AEL assumes no responsibility to publicly amend, modify or
revise any forward looking statements, on
the basis of any subsequent development, information or
events, or otherwise. Unless otherwise stated in this document,
the information contained herein is based on management
information and estimates. The information contained herein is
subject to change without notice and past performance is not
indicative of future results. AEL may alter, modify or otherwise
obligation to notify any person of such revision or changes.
No person is authorized to give any information or to make
any representation not contained in and not consistent with
this presentation and, if given or made, such information
or representation must not be relied upon as having been
authorized by or on behalf of AEL. This presentation is strictly
confidential.
This presentation does not constitute an offer or invitation
to purchase or subscribe for any securities in any jurisdiction,
including the United States. No part of its should form the
basis of or be relied upon in connection with any investment
decision or any contract or commitment to purchase or
subscribe for any securities. None of our securities may be
offered or sold in the United States, without registration under
the U.S. Securities Act of 1933, as amended, or pursuant to an
exemption from registration therefrom.
This presentation is confidential and may not be copied or
disseminated, in whole or in part, and in any manner.
This presentation contains translations of certain Rupees
amounts into U.S. dollar amounts at specified rates solely for
the convenience of the reader.
26