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AgendaPTC India - OverviewUnique Business ModelKey Financials and Strong Management TeamHighlights3

OverviewGenesis of PTCSet up in 1999 at the initiative of Government of India withthe following objectives: Promoting power trading to optimally utilize theexisting resources;Facilitate development of power projects under privatesectorDevelopment of power market for market basedinvestment in the Indian Power Sector; and Promote exchange of power with neighboringcountries.Promoted by industry participants with a credible trackrecord and significant sector experienceNTPC - India’s largest thermal power generatorPOWERGRID - India’s largest Central TransmissionUtility (CTU) PFC – Development Financial Institution (DFI)dedicated to the power sectorNHPC - Large hydroelectric power generator in IndiaPlayed a pivotal role in creation of power market in IndiaSale of MUs increased from 1,617 MUs* in FY 2002 to24,325 MUs in FY 2012Revenue and PAT for FY2012 - INR 76503 mn andINR 1205 mn respectively25,00020,00015,00010,0005,0000PTC TodayPTC’s business includes Short term, Medium term, Long term(including cross border) power trading, banking, trading ofpower through Power Exchanges and Power Tolling1,617PTC has now expanded its business operations and movedtowards an Integrated Energy player4,17811,0298,887 10,119 9,549 9,889PTC India Financial Services LtdPTC Energy LimitedDirect investments in other identified projectsFuel IntermediationPower Tolling Arrangements13,82518,23624,481 24,325FY 02 FY 03 FY 04 FY 05 FY 06 FY 07 FY 08 FY 09 FY 10 FY 11 FY 12Total MUs traded* MUs: Million Units4

Shareholding PatternAs on 30.09.201214.87%20.97%21.82%16.27%10.11%15.40%PromotersMutual FundsFIs/BanksInsurance Cos.FIIsOthersPromoters – PGCIL, NTPCL, NHPCL, PFCL (each having share of 4.07%)Source: PTC data5

Proven Track Record of Value CreationMore than 136BUs tradedsinceinceptionSet up in 1999 atthe initiative ofGovernment ofIndiaFY 2000Power tradingbusiness beganoperations1,617 MUs tradedFY 2002Listed on BSE andNSE since 2004 IPO oversubscribed 43timesMarket Cap.: INR2,400 mn (US$ 47 mn*)FY 2004*Based on the IPO price of INR 16 per share, # Based on BSE closing price of INR 69.95 on March 30, 2009** Based on BSE closing price of INR 61.40 as on March 30, 2012; 1 USD = 50.94 INR (30.03.2012)(Source: Company data)Raised INR 12000 mnin early 2008 throughQIPRaised INR 5000 mn inMay 2009Market Cap.: INR15,908 mn (US$ 312mn # )FY 2009 Market Cap.: INR 18,111mn (US$ 356 mn**)Market leader in tradingof power: ~43% marketshare24,325 MUs traded in FY2012FY 2012Net Worth:INR 22501mn (US$ 442mn) in FY126

Uniquely Placed as an Integrated Energy PlayerPresence in Energy Value ChainPower TradingLeading Market PositionDirect Investments in PowerprojectsFuel IntermediationNetwork of relationshipsMarket makerMarket leader in power tradingwith ~43% market-sharePower Tolling ArrangementsAdvisory ServicesStrong relationships with keyindustry participantsGoI, Utilities and IPPsCross border trading with Bhutanand NepalCo-promoter of India’s FirstNational Power Exchange (IEX)Provides an edge over ourcompetitors in various businesssegmentsRelationships with marqueeinvestors like Goldman Sachs andMacquarieExperienced TeamStrong PerformancePromoters with a credible trackrecord and significant powersector experienceDiversified Board with well knownIndependent DirectorsProfessional and well qualifiedManagementRobust financial performancetill dateRevenues CAGR of 15% (forlast 5 years)Revenues for FY12 at Rs.76,503 Cr, slightly lower fromFY117

Indian Power Sector Scenario2015105010080604020016.69.96.3Year wise Energy Deficit11.911.12.7412.710.19.86.6 5.3210.68.5 8.52007-082008-092009-102010-112011-12Slippages in Five Year Plan Targets47.50 51.2240 4119 2179GrowthEnergyDeficitPeakDeficit69.62551997-02 2002-07 2007-12Target (MW) Installed (MW) Achievement (%)Key Highlights5 th largest generation capacity (~200 GW, 4% ofglobal power generation)A fair mix of Central, State and Private capacityThermal dependent to a great extentGrowth in demand for power outstripping thegrowth in generation and capacity additionHigh T&D and AT&C lossesPower for All by 2012 – a dream unfulfilledOne Nation One Grid - Plan to establish anintegrated National Power Grid in the country withabout 37,700 MW of inter-regional power transfercapacity (current – 28,000 MW)With facilitation of inter-regional transmission,trading activities are set to gain momentum andlocation constraint on generation capacity isexpected to subduePrivate sector’s share in installed generationcapacity increased from ~12 % to ~28% in fiveyearsSource: Planning Commission, CEA, Ministry of PowerHuge investment of USD 300 billion required in the power sector8

AgendaPTC India - OverviewUnique Business ModelKey Financials and Strong Management TeamHighlights9

Growth Strategy - Presence in Energy Value ChainPower TradingSubsidiaries, Associates andInvestmentsFuel IntermediationShort Term tradingMedium Term tradingCross Border tradingBankingTrading on Power exchangeLong Term tradingPower TollingPTC India Financial ServicesPTC EnergyAthena Energy VenturesTeesta UrjaKrishna Godavari Power UtilitiesWind Power ProjectChenab Valley Power ProjectLong Term Arrangement tosecure fuelPower tolling arrangements - toencourage additional generatingcapacities to come upOpportunities being exploredwith various strategic partnersfor acquiring coal assetsAdvisory ServicesCapture Greater Share Of Energy Value Chain By Diversifying Into Related Energy Businesses10

Pioneer in Short Term Power TradingMarket leader in power trading for more than a decadeTraded volumes increased from 1,617 MUs in FY 2002 to24,325 MUs in FY2012Transactions cover most of the State Electricity Utilities in thecountryBusiness focuses on identifying parties with a surplus of power andparties with a deficit of power at particular times and for specificdurationsParticipation in Competitive Bidding for sale/purchase of power byvarious utilities under Short Term/Medium TermVarious products created to provide flexibility to its clientsRound the clock powerEvening or Morning peak/ Afternoon or Night off-peak powerSpecific time blocks for 6 to 18 hoursWeekend or Holiday powerFacilitating trading of power under Day Ahead and Term AheadMarket through IEX/PXILEnergy BankingNORTHERNNEPAL BHUTANNORTH EASTERNEASTERNWESTERNSOUTHERNShort-term trade in all regions and with Nepal and Bhutan as well11

Cross Border Trades with Bhutan and NepalBhutanLong term agreements in place for purchase of power from HEprojects of BhutanChukha: 336 MWNepalMarsyangdi – 600 MWKurichhu: 60 MW andTala: 1,020 MWFrom the above projects, PTC purchased5,275 MUs in FY 2012 (5,569 MUs in FY11)NepalSigned an Memorandum of Agreement (MoA) with GMR for600 MW Marsyangdi HE projectPSA signed with NEA for export of 150 MW coal-based thermalpower on long-term basisActive engagement in the up-gradation of Indo – Nepaltransmission interconnections for enhancement of power tradePTC is a member of Indo-Nepal Power Exchange CommitteePTC supplied ~69 MUs to Nepal in FY12 (~46 MUs in FY11)Bhutan (1416 MW)Chukha: 336MWKurichhu: 60MWTala: 1,020MWCapacities available to PTC for cross border trades12

Medium/Long term tradingStrategizing to increase the volume and mix of Mediumand Long term trading contractsTo reduce volatility in trading volumesEntering into Long term PPAs with new IPPs andCaptives with surplus capacityInvestments into power projects to increase the tradingvolumePTC has entered into PPAs and MoUs to procure long termpowerPPAs initialed/ signed for 14,548 MW*MoUs signed for 14,625 MW*PTC has entered into PSAs/ MoUs to ensure long termsale of powerStates with PSA/ MoUsignedIPPs with PPAsPSAs finalized for 5,550 MW**As of 31 March, 2012 and includes cross border and power tolling also13

Investments in Energy Value Chain: PFSScope of business activities•Incorporated in 2006 as 100% subsidiary of PTC India Ltd• In 2007, Goldman Sachs and Macquarie bought stake asstrategic investor and in FY 11, PFS accessed capital marketby IPO of company• Started its business operations in late 2007 by taking 26%equity stake at par in Indian Energy Exchange as co-promoter .•Received Infrastructure Finance Company (IFC) status inAugust 2010Investment SpectrumGreenfield, brownfield projects and provideexpansion on ongoing basis to companiesengaged in identified target sectorsPower ExchangeBiomass projectsWind projectsCoal projectsTerm financingPTC’slineageOperational Highlights (INR mn)Acrossenergy ValueChainDebtFinancingFY 201212,66063,350FY 20116,80133,340FY 20103,02216,823Fee BasedServicesEquityFinancingFY 20092002,843StructuredProducts0 20,000 40,000 60,000 80,000Outstanding Loan BookCumulative Debt SanctionedTo provide Investment and Financing solutions for the broader Energy Value Chain14

Investments in Energy Value Chain: PFSDistribution of Projects Across the Value Chain7% 2%2% 2%14%Debt Sanctioned8%65%2%15%4%7%Debt Outstanding12%53%7%Coal Hydro Gas Solar Wind Biomass OthersCoal Hydro Gas Solar Wind Biomass OthersEquity Investment HighlightsPower ExchangeIEX - India’s first electricity trading platformCurrently holding 5% stake after divesting its part stake in the company in FY11 & FY12Major Projects14.66% stake in 1,320 MW thermal project in Andhra Pradesh20.55% stake in 700 MW thermal project in Orissa37% stake in 99.45 MW wind project in Maharashtra. 41.25 MW is commissioned17.84% stake in 1,000 MW thermal project in Andhra PradeshTo provide Investment and Financing solutions for the broader Energy Value ChainAll data updated up to 31 st March 201215

Investments in Energy Value Chain (Cont’d.)Business DescriptionInvestment and StakeRemarksATHENA ENERGYVENTURES (ATHENA)Power project developmentalcompany across generation,transmission and distribution assetsSubscribed for 20% equity stake inAthena for a commitment of INR1,500mnInvested INR 1500 mnAthena won a bid to construct a3000 MW Hydro plant in ArunachalPradeshDeveloping 2 coal based thermalpower projects in Andhra Pradeshand Chattisgarh – 3840 MWTEESTA URJA LIMITED(TEESTA URJA)1,200 MW hydro project based inSikkim, India11% stake in Teesta Urja for aninvestment of up to INR 1,414 mnInvested INR 1,414 mnAchieved Financial ClosureExpected to be commissioned byFY 2014KRISHNA GODAVARIPOWER UTILITIES63 MW imported coal based projectin Andhra PradeshAmount approved by Board – INR400 mnHolds 34.66% stake with aninvestment of INR 375.53 mn Promoter’s stake – 65.34%WIND POWER ASSETS6 MW capacity wind power projectin MaharashtraDirect execution of project by PTCProject cost of INR 375 mn Commissioned in March 2008Agreement with MSEB for purchaseof powerCHENAB VALLEY POWERPROJECTSJV company for implementation ofPakal Dul and other hydroelectricprojects with installed capacity of2100 MWInvested INR 1 mn Amount approved by board – INR 7mnPTC will have 2 % share, restdivided equally among NHPC andJKSPDC16

Fuel Intermediation – PTC Energy Limited (PEL)Acting as fuel aggregatorPurchase of imported fuel and onward sale to powerplants and to PTC as well for plants under its tollingarrangements Depending upon Customers’ needs, PEL canarrange imported coal of different grades fromdifferent destinations on competitive basisCoal can be supplied under different structures i.e.on Spot , Short term , Medium Term or Long TermbasisExploring avenues for adding new suppliers andbuyers under its umbrella of fuel intermediation oncompetitive basisPurchased and sold 424,061 MT of imported fuelduring the FY 2011-12 (280,492 MT in FY11)Joint venture partner for development of energy assets Undertaken a strategic investment of Rs. 23.40crore for development of wind farm in Tamil Nadu17

Power Tolling ArrangementsPower Tolling ArrangementPurchase of coal atcompetitive pricesPTC to procure fuel (coal) for the power plantand pay an energy conversion charge to IPPThe power so converted is to be owned andtraded by PTCSupply of coal to IPP asper PTAPower Tolling Agreements (“PTA”) for 500 MW(in AP) with 2 power projects already in placeMeenakshi Energy Pvt. Ltd. – 150 MW Simhapuri Energy Pvt. Ltd. : Phase 1 – 200MW and Phase 2 – 150 MWPurchase of power afterpaying conversionchargeBoth the projects are based on importedCoal and PTC needs to arrange for theimported coalUTILITIESSale of power atmarket prices18

PTC Group in Renewable EnergyFacilitating solar power sale from solar developers to solar power consumers (obligated entities) throughmutually beneficial trading arrangementsDesigning solar power product through innovative bundling solutionsAdvisory for development/marketing of solar projects; tariff modeling/forecasting and othersFacilitating various entities in meeting their Renewable Purchase Obligations (RPOs) through sale ofRenewable Energy Certificates (RECs)Financing development of Renewable power projects through its subsidiary PTC India Financial ServicesFunding to Different Types of Renewable Projects by PTC GroupCategoryNo. ofProjectsTotalCapacity(MW)Funding byPTC Group(INR Mn)Biomass 9 102 1700Wind 8 476 5000Solar 3 13 700Small Hydro 2 58 500Total 22 649 7900Category-wise Capacity Fundedas % of Total2.018.8773.4115.72Biomass Wind Solar Small Hydro19

Uniquely Positioned: RelationshipsAssociations/RelationshipsJoint VenturesGovernment of India and various StateGovernmentsGovernment of Bhutan, Nepal and BangladeshEnergy Commission, GhanaCentral and State Public Sector UndertakingsBureau of Energy Efficiency (BEE)Athena Power Projects Limited and IDFCPartners in Athena Energy Ventures LimitedFinancial Technologies of India LimitedPartners in Indian Energy ExchangeGoldman Sachs and MacquarieStrategic financial partners in PTC IndiaFinancial Services LimitedIndependent Power ProducersTeesta Urja LimitedFinancial Institutions/Financial InvestorsIndo Norwegian Program for InstitutionalCooperation (INPIC), NorwayKrishna Godavari Power Utilities LimitedNHPC & JKPDCLChenab Valley Power ProjectUSAID/United States Energy AssociationLeveraging on established relationships to diversify into new businesses and develop new relationships20

AgendaPTC India - OverviewUnique Business ModelKey Financials and Strong Management TeamHighlights21

Key FinancialsRevenues (in INR mn)PAT (in INR mn)100,00080,00060,00040,00020,00037,859 39,49365,28977,73489,98676,50315001000500352486908 9411,3851,2050FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 20120FY 2007 FY 2008 FY 2009 FY 2010 FY 2011 FY 2012Key Highlights – FY12 Maintained leadership position with market share of ~43 %PFS concluded sale of its part stake in IEX – realized gain of INR 665 mnPTC-Retail established for facilitating HT/Industrial Consumer in OpenAccess, Power Exchange, Bilateral Trades, Renewable Energy,Customized Power and Captive SolutionsMatched last year trading volume despite regulated supply to Statesdelaying payments22

Strong Board and Management TeamExperienced and stable senior management teamCorporate governance structureSenior Management Team Experience (yrs) Board of DirectorsMr. Deepak Amitabh CMD 27Mr. S. N. Goel Director 30Dr. Ashok Haldia Director (PFS) 31Dr. Pawan Singh Director (PFS) 29Mr. Arun Kumar Director (PEL), CFO (PTC) 35Mr. Rajiv Kr. Mishra Executive Director 26Mr. Harish Saran Executive. Vice President 24Mr. P. Varshney Sr. Vice President 35Mr. V. S. Bisht Sr. Vice President 27Mr. Hiranmay De Sr. Vice President 24Ms. Puja Mehrish Vice President 23Mr. Pankaj Goel Vice President 20Mr. Deepak AmitabhMr. S. N. GoelMs. Rita AcharyaMr. M. S. BabuMr. I. J. KapoorMr. M. K. GoelMr. Ravi P. SinghMr. Hemant BhargavaMr. Ved Kumar JainMr. Dipak ChatterjeeMr. S. BalachandranMr. Anil RazdanChairman and Managing DirectorDirectorDirector, Jt. Secretary MoP,GoIDirector (Nominee of NHPC)Director (Nominee of NTPC)Director (Nominee of PFC)Director (Nominee of POWERGRID)Director (Nominee of LIC)Independent DirectorIndependent DirectorIndependent DirectorIndependent DirectorMr. Harjit Singh Ghura Vice President 31Mr. S. C. Shukla Vice President 28Mr. D. SwarupMr. H. L. BajajIndependent DirectorIndependent Director23

AgendaPTC India - OverviewUnique Business ModelKey Financials and Strong Management TeamHighlights24

HighlightsMaintained Leadership in Core Trading BusinessSteady Progress to emerge as an Integrated Energy PlayerPresence in Energy value chain by diversifying into related Energy BusinessesExperienced and Strong Management Team25