Thinking big Doing bet t er

Resources Logist ics Energy

Adani Group Vision, Values and Commit ment
2
To be globally admired leader in integrated infrastructure businesses with a deep
commitment to nation building. We shall be known for the scale of our ambition, speed of
executionandqualityof operation.
India:
Generat ion:
9240 MW t hermal
capacit y by 2014.
40 MW Solar Power
Plant operat ional
Transmission:
2923km of
t ransmission
net work.
CGD:
Operat e in 3 cit ies in
India.
India:
No. 1 Port of India
(cargo handled)
Biggest Privat e Port
Developer & Operat or
4 Operat ing Port s
Developing 4 ot her
t erminals
#
pan India
Largest Privat e Rail.
Shipping:
Own & operat e 4
capesize vessels
India
Largest t rader of
Coal.
Mine developer and
operat or wit h 97
mt pa order book
Indonesia:
Resource 269 mn t n
Mine lif e: 15 yrs
11 mt pa (peak)
Australia
JORC Resource: 11
bn t on
Mine lif e:100 yrs
100 mt pa (peak)
Building an energy
sufficient INDIA
with
world class
Infrastructure and
integrated value
chain
Coal Trading
Coal Mining
Agro
Resources
Sea Port s
Railways
Shipping
Logistics
Power
Generat ion
Transmission
Trading
CGD
Energy
#: Const ruct ion complet ed at coal t erminal at Goa and Vizag
200
384
1,000
1,084
1,271
1,700
-
500
1,000
1,500
2,000
FY09 FY10 FY11 FY12 FY13 FY14
3,077
5,654
12,822
15,762
17,273
16,738
-
5,000
10,000
15,000
20,000
FY09 FY10 FY11 FY12 FY13 FY14
Adani Group Thinking Big, Doing Bet t er
3
Net Asset (USD mn)
EBIDTA (USD mn)
Commercial Port in India
Coal Import Terminal at Mundra
Privat e Power Producer in India
Mine Developer and Operat or in India
Trader of coal in India wit h consist ent share of
about 50%
Edible Oil Company in India in t erms of market share
No.1 :-
Resources Logistics
Energy
Coal Trading
Coal Mining
Sea Port s
Railways
Power
Generat ion
Transmission
Coal: Indigenous Supply Def icit t o Cont inue
5
2012
2017
2020
602
841
900 36
70
100
2
70
200
25%
640
981
1200
Unit s in MMTPA
Mining (AEL) Import s (AEL)
CIL & Ot her Import s AEL Market Share
Source: Minist ry of Coal/XIIt h FYP & Plan Working Group.
14%
6%
Adani : Key Supplier to growing coal Demand
in India
Coal demand driven predominant ly by
Indian Power Sect or est imat ed t o reach
~288 GW by 2017 f rom 245 GW as on 30
t h
Apr 14.
640*
981*
1200*
Indigenous Supply Def icit in India
Growing Demand Increasing Demand-Supply Gap
100
185
234
Coal import s t o cat er t he def icit arising f rom
t he demand-supply gap.
Indigenous supply t o grow at slow pace of
7.5% against demand growt h of 8.2%,
increasing t he def icit f rom 15.6% in FY12 t o
19.5% in FY20
Coal import s t o grow at 11.2% p.a. over 2012-
2020
* Annual Demand
Coal Trading : Largest Int egrat ed Coal Management
6
Multi-Country
Procurement
Multi modal
Logistics
Customer
Account
Management
Financing
Consistent market
share of
~50%
Map not t o scale
Sout h
Af rica
Richard Bay
Port s
Locat ions served
Indonesia
Indonesia
Tarakan
Tanjung Bara
Bontang
Samarinda
Muara Satui
Tanjung
Pemancingan
Aust ralia
Queensland
10
19
29
33
36
46
70
100
-
20
40
60
80
100
120
Mundra
Gangavaram
Kakinada
Vishakhapt nam
Tut icorin
Haldia
Surat garh
Tanda
Unchahar
Sipat
Korba
Koradi
Parli
Chanderpur
Simhadri
Kot a
Chhabra
Gandhinagar
Wanabori
Dadri
Panipat
Yamunagar
Hissar
Panki
Parichha
Harduaganj
Kahalgaon
Ramagundam
Kondapalli
Nort h Chennai
Met t ur Tut icorin
Rihand
Vindyachal
Paradip
[Talcher]
Mejia
Badarpur
Ennore
Dahej
Bedi
Navlakhi
Kandla
Kolaghat
Bakreshwar
Bandel
Sagardighi
Durgapur
Hazira
Goa
Tiroda
Mining Locat ions
Port s
Mundra
Machhakata
Dahej Port
Hazira Port
Parsa
Chhendipada
Parsa Kente
Mormugao Port
Vizag
Kandla
7
Land
Acquisit ion
Develop, Plan,
Operat e &
Manage
Mining
Operat ions
Est ablishment
of Washery &
Reject s based
Power Plant s
Logist ic
Solut ions
State
Chhattisgarh Orrisa
Mine
Parsa -
Kente
(RRUVNL)
Parsa
(CSPGCL)
Kente
Extension
(RRUVNL)
Machhakata
(MGCL)
Chendipada
(UCMCCL)
Block Area (Sq Km) 27.67 12.52 17.00 20.43 21.91
Mineable
Reserve (Mn MT)
452 150 200 1244 1589
Capacit y at peak
level (MMTPA)
15 5 7 30 40
Overall St ripping
Rat io
5.16 5.46 5.10 2.44 2.75
Commencement
of Product ion
St art ed
Jan 13
2016 2017 2015 2016
Notes:
1. RRVUNL Rajasthan Rajya Vidyut Utpadan NigamLimited ; 2. MGCL Mahaguj Collieries Ltd. ; 3. CSPGCL Chhattisgarh State Power Generation Company
Limited 4. UCMCCL - UCM Coal Company Limited
Coal Mining: Largest Mine Developer & Operat or
8
Coal Mining: Indonesia
Indonesia
Bunyu Island
Coal Crushing
Coal Loading
Particulars Capacity
Locat ion
Bunyu Island,
Indonesia
Resource 269 MMT (JORC)
Peak Capacit y 11 MMTPA
Current Capacit y 7 MMPTA
Coal Mining
9
Coal Mining: Carmichael Coal Mine
Acquisition
Adani Mining Pt y Lt d, ent ered int o Asset
sales agreement wit h LINC Energy in
August , 2010 f or ownership of EPC 1690
Location Galilee Basin - Queensland, Aust ralia
Resource Base Thermal Coal 11.04 Bn Tonnes (JORC)
Production
Target
Phase I : 40 MTPA
Status
EIS approved f or Carmichael Mine & Rail
project
EIS f iled f or NGBR Project
EIS Environment Impact St at ement
NGBR Nort h Galilee Basin Rail
Proposed Rail
Connect ivit y
Agro
10
Capacit y of 21000 MT of st orage of Apple
St at e of Art Cont rol At mosphere St orage f acilit y at 3 locat ions in Himachal
Pradesh
Dist ribut ion set up across India under brand Farm-Pik
One of largest import er of f ruit s int o India
Agri Infrastructure: Fruits
Operat es st orage capacit ies of 6,00,000 MT across 7 locat ions across India
Anot her 3,50,000 MT in development across 7 locat ions in Madhya Pradesh
St at e of Art mechanized st orage f acilit ies wit h privat e railway siding
Operat es st orages f acilit ies under Build Own Operat e model f or FCI f or 20 years
Agri Infrastructure: Food Grains
Joint vent ure wit h Wilmar , Singapore
FORTUNE - Indias number 1 edible oil brand wit h more t han 20% market share
(AC Nielson)
Revenues in excess of $ 2.5 Bn
Volumes more t han 3.5 MMTPA
Major Export er of Cast or Oil/derivat ives and Soya De-oiled cake
Manuf act uring f acilit ies spread across 18 locat ions pan India wit h 10k ref ining
& 7k crushing capacit y
Edible Oil
Agri Infrastructure: Fruits
Agri Infrastructure: Food Grains
Resources Logistics
Energy
Coal Trading
Coal Mining
Sea Port s
Railways
Power
Generat ion
Transmission
Port s & Logist ics: Unique Asset Prof ile
Indias Gateway for International Trade
4 Port s having 14 t erminals wit h 33 bert hs *(Mundra,
Dahej, Hazira & Dhamra)
2 inland cont ainer depot s at Pat li (Punjab) and
Kishangharh (Rajast han) in t he nort h of India
Terminals : Operational
Trial Runs at : 1 Coal t erminal each at Vizag port
and Mormugao Port
1 bulk t erminal wit h t ot al 4 bert hs at t he Kandla
1 cont ainer t erminal wit h 1 bert h at t he Ennore
Terminals: Being Developed
Energy Gateway
Crude Crude Products Imports
2 operat ional SPM. Pot ent ial t o develop 2 more
SPM at Mundra Port
LNG Terminal being developed
Coal: Feeding Power Projects Across India
PAN India net work of port s and t erminals t o
handle coal cargo
Availability of Adequate Draft: Only Deep DraftPorts and Terminals of West India
Deep wat er draf t s: 17.5 20 Mtrs at Bert h & 32 Mtrs at SPM at Mundra
Accommodat es cape size bulk vessels & cont ainer cargo vessels of >14,000 TEUs, and
Very large crude carriers (VLCCs) of up t o 360,000 DWTs
Supporting Facilities
Mobile harbor cranes, conveyors, port craf t s and ot her equipment and back-up and st orage areas
Two ICDs at Pat li and Kishanghar, t o provide an out reach t o land locked nort hern India
6,641 hectares SEZ- Opport unit y t o expand st orage and back up area
Fleet of 13 dredgers capable of doing capit al dredging across various marine condit ions
22 tug boats which are used t o maneuver vessels inside out t he port t erminals
Port Craft and Mechanization
12
Port s & Logist ics: Int egrat ed Service Provider wit h a st rat egic locat ion
13
Anchorage Pilotage Tug Pulling Berthing Handling
Internal
Transport
Storage &
Value Add
Evacuation
(Rail-Road)
Natural Advantages at Adani Ports Servicing Northern Western & Central Hinterlands
Location Advantages:
Close t o one of t he major global maritime trade routes
Bridging t he resource rich Middle East, Africa and Australia, and regions
wit h high resource demand and consumer exports in East and North Asia
and Europe
Asset s posit ioned on west ern and east ern coast of India t o strategically
servicet he land locked hinterland.
Ample land available f or development of increment al st orage and
evacuat ion inf rast ruct ure
Marine Advantages:
Abilit y t o bert h larger vessels, deeper nat ural draf t s wit h lesser
maint enance dredging requirement s
Connectivity Advantages:
Low transit time t o reach nort hern, west ern & cent ral hint erland
Rail rout es t raverse t hrough t he sparsely populat ed desert regions of
Kut ch and Rajast han
Well connect ed rail and road inf rast ruct ure t o Mumbai & Delhi, key
indust rial hubs of India.
Port s & Logist ics: Only PAN India Port Company
14
Particulars Mundra Dahej Hazira Dhamra Goa Vizag Kandla Ennore
Capacity (mmt)
Bulk 100 20 15 24 10 6 - -
Crude 50 - - - - - - -
Cont ainer
(mn TEUs)
4 - 1.5 - - - - -
Operational 210 20 35 24 10 6 - -
LNG 5 - - - - - - -
Bulk 40 - 6 - - 20
Containers
(mn TEUs)
- 1.4
Being Developed 45 - 6 - - 20 18
Total Capacity 255 20 35 30 10 6 20 18
Status Operat ional Trial Runs FY 16 FY 17
Expansion X X X
Berth Length-
mtr
6384 566 1,580 800 300 310 1200 780
Mechanisation
Connectivity
Road
Rail
Pipeline X X X X X X X
Air X X X X X X X
Revenue Share NIL NIL
3% >
10yrs
5% 20% 40% 25% 37%
Tariff Fixation Commercially Negot iat ed Regulat ed
Only indigenous PAN India Port Company
A net work of Mult i Purpose Terminals, Coal
Handling f acilit ies and Cont ainer Terminals
across India
A net work of Mult i Purpose Terminals, Coal
Handling f acilit ies and Cont ainer Terminals
across India
Mundra
Hazira
Mormugao
Vizag
Kishanghar
Pat li
Ennore
Dahej
Kandla
Dhamra
Port s & Logist ics: Key Milest ones
15
2011
Terminal at Dahej becomes
operat ional
20 million MT capacit y now
60 million MT of handling
capacit y-commissions t he worlds
largest coal import t erminal at
Mundra
2009
Aut omobile handling
t erminal commences
operat ions
2010
Hazira: Sub - Concession
signed
2013
Mundra port
becomes 2nd largest
in India
Hazira became
operat ional
2012
Doubling of t he rail connect ivit y
bet ween Mundra and Adipur
complet ed
Operat ions Commenced:
Cont ainer t erminal - III
Name changed t o Adani Port s and
Special Economic Zone Limit ed
2001
Commences
commercial
operat ions
Set s up f irst
commercial
t erminal
2003
First cont ainer
t erminal, Mundra
Int ernat ional
Cont ainer Terminal
commences
operat ions
2002
4 million MMT of cargo-Mundra
becomes largest privat e port in
India
Agreement s signed wit h IOC and
HMEL f or set t ing up SPM and
crude oil handling at Mundra
2005
First non-capt ive Single
point mooring f acilit y in
India at Mundra Port
A double-st ack cont ainer
t rain began operat ions
2007
Init ial public of f ering of shares
oversubscribed 117 t imes
Operat ions Commenced:
Mult i Purpose Terminal II
Cont ainer t erminalII
Dahej: Sub-Concession Signed
2014
Mundra handles 101 mt pa of
cargo
Only port in India t o handle
such large volumes
CT III asset s operat ions by
AICTPL 50-50 JV APSEZL-
MSC
Terminals at Mormugao and
Vizag complet e const ruct ions
APSEZL signs def init e
agreement t o acquire DPCL
marks it s f oot st eps on east ern
coast of India
Port s & Logist ics: The Dif f erent iat ing Fact ors
16
2 1
1
7
1
2
12
2.0
1
6 6
3
Dry Liqui d Cont ai ners
Turn Around Time (in days)
Mundra
Kandla
Mumbai
JNPT
0%
20%
40%
60%
80%
100%
Dry Liqui d Cont ai ners
Berth Occupancy
Mundra
Kandla
Mumbai
JNPT
82
94
58
65
0
50
100
150
200
Mundra Kandla Mumbai JNPT
Capacity & Cargo Handled (million MT)
Liqui d
Cont ai ner
Dry
Cargo
Handled
Mundra Port provides t he best vessel
t urn around t ime in t he region ensuring
advant age t o cust omers
Capacit y ut ilizat ion at compet ing port s
is very high leading t o congest ion in
operat ions
Capacit y expansion at compet ing port s
is bound t o t ake t ime and will be
capit al int ensive
Invest ment s at our Port s have been
done t o ensure readily available
capacit y t o handle addit ional cargo
wit hout any congest ion
2
Port s & Logist ics: Cargo Diversit y Key Feat ure
17
3C: Coal, Container & Crude Traffic to Drive Volume in India
912
318
233
188
131
16
221
2,019
0
1,00 0
2,000
3,000
FY12 Coal Cont ainers Crude Iron Ore Fert i li zers Ot hers FY17
Cargo Handled in MMT)
696
981
559
795
0
300
600
900
1,200
FY12 FY17E
Coal: Critical for Indias Energy Requirements
MMT
Indigenous Supply
Tot al Demand
Ref ining Capacit y
Crude Requirement
184
358
190
364
0
150
300
450
FY12 FY25E
Increasing crude imports
MMT
Increasing Containerization
12
31
0
5
10
15
20
25
30
35
FY12 FY17E
Cont ainer t raf f ic
No. 1 port t o
service coal
requirement s of
India
Services ~20% of
Indian coal
import s
No.1 port in India
No. 2 port t o
handle
cont ainers in
India;
Equipped t o
handle up t o 14K
TEUs vessels
2 operational
of f shore single
point mooring
f acilit ies
Long Term
Contracts wit h
IOCL, HPCL,
HMEL
TEUs
APSEZLs Capability
APSEZLs Capability APSEZLs Capability
Sources: Minist ry of Shipping (GoI), Minist ry of Road Transport and Highways (GoI), Indian Port s Associat ion
Port s & Logist ics: Growt h St rat egies
18
Become Gateway for Energy Resource
Imports to India
Focus on Increasing Margins from Our
Operational Facilities
Facilit ies in operat ion are posit ioned in West and Sout h
Gujarat t o service nort hwest , west and cent ral India
Developing t erminals at t he Mormugao Port and t he
Vizag
Port t o expand presence t o sout hwest and sout heast
India
Growing presence on East coast wit h Vizag t erminal
Growt h on East coast t hrough organic and inorganic
means
Mundra already t he enegry gat e way f ro India.
Focusing on coal and crude oil cargo services and
providing connect ivit y t o power plant s and
pet roleum ref ineries
All adani port s equipped t o handle coal cargo
For crude oil cargo, t wo operat ional single point
mooring f acilit ies and have t he pot ent ial t o develop
t wo addit ional single point mooring f acilit ies at t he
Mundra Port
Pot ent ial t o develop an LNG Terminal
Establish Pan-India Presence
Pursue Benefits of Both Long-term and Short-term Arrangements
with Customers
To enhance exist ing long t erm as well as short t erm
cust omer relat ionships f or st eady mix of cont ract ed and
spot cargo
Try t o convert short and medium t erm arrangement s
int o long t erm arrangement s
Plan t o cont inue t o increase t he amount of cargo
pursuant t o t hese arrangement s by increasing our
capacit y and cont inuing t o ref ine our operat ing
procedures
Offer Customers Multi-cargo Ports and Related Infrastructure
Posit ioned growt h plans t o accommodat e t he diversit y of t hroughput by developing mult i-cargo port s and inf rast ruct ure t o cat er t o t he diverse cargo needs of
t he cust omers
1
2
5
3
4
Focusing on revenue maximizat ion and cost
opt imizat ion
Focus on providing various value add services at t he
port t o enhance t he revenue horizon above marine,
handling, st orage and evacuat ion incomes.
Implement ing globally benchmarked operat ional
pract ices f or reduct ion in operat ing cost s
Use of inf ormat ion t echnology and mechanizat ion
at port f acilit ies t o reduce t urnaround t imes,
pilf erage and wast age and result ing int o minimal
human int ervent ion.
APSEZL
Resources Logistics
Energy
Coal Trading
Coal Mining
Sea Port s
Railways
Power
Generat ion
Transmission
Power: Sect orial Demand cont inue t o rise
20
Average Deficit in the Last Decade:
Peak def icit : 12%; Energy def icit : 9%
India Installed Capacity: 245 GW*
Installed Capacity in India - Category
Source: 11
th
& 12
th
FYP,Minist ry of Power, CEA
* As on 30
t h
Apr 2014
Unit s in GW
2012 2017 2020
132
204
240
39
50
57
5
10
19
25
25
32
Thermal Hydro Nuclear Renewables
200
288
347
Peak & Energy Deficit : Year-wise
Hydro
40 GW
Ot her
32 GW
Nuclear
5 GW
Thermal
168 GW 13361
6460
5741
2942
2384
884
0
2000
4000
6000
8000
10000
12000
14000
16000
USA Russia UK China Brazil India
Lowest per capita electricity consumption
12% 12%
14%
17%
12% 13% 13%
11%
9%
5%
5%
7%
8%
9%
10%
11%
10%
9%
8%
9%
4% 4%
Peak Def icit Energy Def icit
Power: Generat ion & Transmission
21
Notes: 1. Project under AEL Subsidiary
# Line 1 operat ional
Commissioned:
2.640MW
Under Implement at ion:
660 MW
Commissioned:
1,320MW
Kawai
Commissioned:
4,620MW
Mundra
Tiroda
Dehgam
Mohindergarh
Aurangabad Warora
Adani Power projects are in high growth & better managed
states of India. Also these states have financially strong SEBs
40 MW Operational Solar Power Project
1
in Gujarat
SN Location
Capacity
(MW)
1
Mundra (Gujarat )
4,620
2
Tiroda (Maharasht ra)
3,300
3 Kawai (Rajast han) 1,320
Total - Implementation 9,240
Power Generation
Power Transmission
SN Connecting Locations Length (Kms)
1
*Mundra Dehgam
1000 MW, 400 KV
433
Operat ional
2
*Tiroda Warora
1000 MW, 400 KV DC
200
Operat ional
3
*Mundra Mohindergarh
2500 MW, 500 KV HVDC
1,000
Operat ional
4
Tiroda Aurangabad
1
4500 MW, 765 KV SC
1,290
Operat ional#
Total 2,923
Operation
(MW)
4,620
2,640
1,320
8,580
*Transmission lines are part of inter-state transmission system
22
Power: Fuel Securit y & Of f -t ake in Place
Customer
Total
Capacity
(MW)
Capacity
contracted
(MW)
Levelised
tariff
(INR/unit)
PPA starts
from
Coal Availability
Qty(MMT)
Coal
Required
(MMT)
Tariff revision
requested
Gujarat - GUVNL
(330x4)
1,320 1,000 2.89 Feb-10
Import ed Coal 10.2
Gujarat - GUVNL
(660x2)
1,320 1,000 2.35 Feb-12
CERC final order
received; full
coal cost pass
through
Haryana - UHBVNL &
DHBVNL
(660x3)
1,980 475 + 949 2.94
Aug-12 /
Feb-13
FSA signed for 6.4 MMT 6.4
CERC final order
received; full
coal cost pass
through
Mundra 4,620 3,424 16.6
Maharasht ra - MSEDCL
(660x2)
1,320 1,320 2.64 Aug-12
FSA signed for 4.91 MMT
FSA - Tapering linkage
signed f or 800 MW
8.3
MERC final
order received;
full coal cost
pass through
Maharasht ra - MSEDCL
(660x3)
660 125 + 440
3.28**
Aug-14 /
Feb-17
1,320 1200 Apr-14 MoUsigned for 3.39 MMT 5.5
Tiroda 3,300 3,085 13.8
Rajast han - RRVPNL
(660x2)
1,320 1,200 3.24** Aug-13 MoUsigned for 3.39 MMT 5.5 P
Kawai 1,320 1,200 5.5
Grand Total 9240 7709^ 35.9
**Fuel & Fuel Transport at ion are linked t o CERC escalat ion index in PPA t arif f ^PPA Capacity 92% of Net capacity
Power: Compensat ory Tarif f
23
CERC f inal order on compensat ory t arif f ent it led Adani Power f or
recovery of past losses
SCOD t o 31-Mar-13 - Rs 830 crs and shall be recovered i n 36
mont hly EMIs f rom t he dat e of t he order
1-Apr-13 t o 28-Feb-14 - The compensat ory t arif f f or t he period
works out - Rs 0.85/kwh f or Gujarat Bid 02 PPA and
Rs 0.36/kwh f or Haryana PPA, and shall be recovered in 12
mont hly EMIs in accordance wit h t he order
CERC f inal order ent it les Adani Power f or f ull coal cost pass t hrough
Compensatory
tariff
APL Phase III/IV
Pet it ion f i led in MERC f or f or MSEDCL 1320 MW PPA t o overcome
t he hardship due t o non-availabilit y of capt ive coal mine
MERC f i nal order ent it les APML f or compensat ory energy charge f or
supply over and above 520 MWin t he 1,320 MWPPA
Compensat ory energy charge at t he current level of linkage (25%) f or
800 MWworks out t o Rs. 1.01/kWh
Compensatory
tariff
APML Phase I / II
Power: Ot her Development s
24
Pass throughof additional importedcoal cost
Import ed coal may be used t o mit igat e domest i c coal short age and
increment al coal cost wi ll be consi dered f or pass-t hrough over and
above exist ing PPA t arif f
Mini st ry of Coal has i ssued suit able orders supplement ing t he New
Coal Dist ribut ion Poli cy and MoP has issued appropriat e advisory t o
regulat ors
12thPlanPower Projects havingPPA
Government has asked CIL t o work out modalit ies t o provide long
t erm coal linkage t o t hese project s
Accordingly, t i ll t he t ime long t erm li nkage i s awarded CIL has agreed
t o provide coal t o APRL (1320 MW) and APML Ph III (1320 MW)
t hrough MoU rout e. MoUs were signed f or 3.39 MMT of Coal
quant it y f or each project .
CCEA Directive
CIL has allowed int er plant coal swapping whi ch will result i n overall
benef it due t o savings in logi st ics cost and improved availabilit y of
coal t o hint erland plant s
We have request ed f or conversi on of 800 MW Tapering li nkage
(Received by APML i n lieu of cancelled Lohara mine) int o long t erm
linkage
Other
Developments
25
AEL assumes no responsibilit y t o publicly amend, modif y or
revise any f orward looking st at ement s, on
t he basis of any subsequent development , inf ormat ion or
event s, or ot herwise. Unless ot herwise st at ed in t his document ,
t he inf ormat ion cont ained herein is based on management
inf ormat ion and est imat es. The inf ormat ion cont ained herein is
subject t o change wit hout not ice and past perf ormance is not
indicat ive of f ut ure result s. AEL may alt er, modif y or ot herwise
change in any manner t he cont ent of t his present at ion, wit hout
obligat ion t o not if y any person of such revision or changes.
No person is aut horized t o give any inf ormat ion or t o make
any represent at ion not cont ained in and not consist ent wit h
t his present at ion and, if given or made, such inf ormat ion
or represent at ion must not be relied upon as having been
aut horized by or on behalf of AEL. This present at ion is st rict ly
conf ident ial.
This present at ion does not const it ut e an of f er or invit at ion
t o purchase or subscribe f or any securit ies in any jurisdict ion,
including t he Unit ed St at es. No part of it s should f orm t he
basis of or be relied upon in connect ion wit h any invest ment
decision or any cont ract or commit ment t o purchase or
subscribe f or any securit ies. None of our securit ies may be
of f ered or sold in t he Unit ed St at es, wit hout regist rat ion under
t he U.S. Securit ies Act of 1933, as amended, or pursuant t o an
exempt ion f rom regist rat ion t heref rom.
This present at ion is conf ident ial and may not be copied or
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This present at ion cont ains t ranslat ions of cert ain Rupees
amount s int o U.S. dollar amount s at specif ied rat es solely f or
t he convenience of t he reader.
Cert ain st at ement s made in t his present at ion may not be based
on hist orical inf ormat ion or f act s and may be f orward-looking
st at ement s, including t hose relat ing t o general business plans
and st rat egy of Adani Ent erprises Limit ed (AEL) and Adani
Port s and Special Economic Zone Limit ed (APSEZ) & Adani
Power Limit ed (APL), t heir f ut ure out look and growt h
prospect s, and f ut ure development s in t heir businesses and
t heir compet it ive and regulat ory environment , and st at ement s
which cont ain words or phrases such as will, expect ed t o,
et c., or similar expressions or variat ions of such expressions.
Act ual result s may dif f er mat erially f rom t hese f orward-looking
st at ement s due t o a number of f act ors, including f ut ure
changes or development s in t heir business, t heir compet it ive
environment , t heir abilit y t o implement t heir st rat egies
and init iat ives and respond t o t echnological changes and
polit ical, economic, regulat ory and social condit ions in India.
This present at ion does not const it ut e a prospect us, of f ering
circular or of f ering memorandum or an of f er, or a solicit at ion
of any of f er, t o purchase or sell, any shares and should not
be considered as a recommendat ion t hat any invest or should
subscribe f or or purchase any of AELs shares. Neit her t his
present at ion nor any ot her document at ion or inf ormat ion (or
any part t hereof ) delivered or supplied under or in relat ion
t o t he shares shall be deemed t o const it ut e an of f er of or an
invit at ion by or on behalf of AEL.
AEL, as such, makes no represent at ion or warrant y, express
or implied, as t o, and does not accept any responsibilit y or
liabilit y wit h respect t o, t he f airness, accuracy, complet eness
or correct ness of any inf ormat ion or opinions cont ained
herein. The inf ormat ion cont ained in t his present at ion, unless
ot herwise specif ied is only current as of t he dat e of t his
present at ion.
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