NISHAT CHUNIAN POWER LIMITEDCORPORATE BRIEFING 2021

2007

• Incorporation

• Tariff determined by

NEPRA

• EPC, IA and PPA

executed

2008

• Financial closing

• Guarantee by GOP

2009

Listed on Stock

Exchange

2010

Started commercial

Operations

2011

First year of profita

ble operations

2015

Started in-house

operation and

maintenance

Brief History of NCPL

2020

Completed the tenure

of Debt Component

in Capacity Tariff

2021

Signed Master &

PPA Amendment

Agreement

NCPL Technology

Gross Capacity 200.00 MW

Net Capacity 195.722 MW

Number of Wartsila Finland18V46 Engines 11

Number of PB Steam Turbine 1

Gross Capacity – Engine 16.9 MW

Gross Capacity – Steam Turbine 14.0 MW

Engine Type W18V46C

Generator Type Converteam/ABB

Rated Voltage – Generator 15kV

Primary Fuel Residual Furnace Oil (RFO)

Back Up Fuel High Speed Diesel

Financial Highlights

Description2021 2020 2019 2018 2017 2016

PKR in Millions

Revenue 11,643 13,023 15,021 16,594 16,148 13,854

EBITDA 4,301 7,379 5,941 5,522 5,248 5,147

Net Profit 2,509 4,606 3,417 3,406 3,000 2,756

Description 2021 2020 2019 2018 2017 2016

EPS (PKR/Share) 6.83 12.54 9.30 9.27 8.17 7.50

Cash Dividend (PKR/Share) - - 2.00 1.00 3.00 7.75

Dividend Payout - - 22% 11% 37% 103%

Dividend Yield - - 8.89% 2.97% 5.77% 14.16%

Financials

Earnings

Year at a Glance

Description2021 2020

PKR in Millions

Receivable from Power Purchaser 20,450 19,006

Short term Borrowings 10,023 9,705

Inventory 869 153

Financials

Operations

Description 2021 2020

Electricity units dispatched 538 GWH 351 GWH

Capacity Factor 31.35% 20.43%

Plant Availability 97.84% 92.61%

Number of Employees 148 166

Tariff Comparison

0.4234 0.4364

0.1068 0.1030

0.7957 0.8036

0.1990 0.1248

1.7436

0

0

0.5

1

1.5

2

2.5

3

3.5

2019-2020(with Debt Component)

2020-2021(without Debt Component)

PK

R/

Kw

H

Capacity Tariff Before And After Debt Component

Fixed O&M Insurance ROE & ROEDC Working Capital Cost Debt Component

Key points of revised Agreements with GOP

• Clearance of Outstanding receivables, that is an integral part of the revised agreements.

• Sharing of future savings in fuel efficiency.

• Sharing of future savings in O&M at 50:50.

• Delayed Payment Rates will be reduced to KIBOR plus 2% for the first 60 days.

• Shifting to rupee based ROE of 17% with fixed USD exchange rate of PKR 148/USD(no USD

indexation).

• Resolution of LCIA Awards.

• Resolution of pending matter through Arbitration.

15.8%

2.8%

5.7%

13.5%

40.2%

22.1%

0.0% 0.0%

11.6%

2.8%

9.10%

15.80%

44.90%

5.10%2.90%

7.80%

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%

30.0%

35.0%

40.0%

45.0%

Not due 0-30 31-90 91-180 181-365 1 to 2

years

2 to 3

years

Above 3

years

Jun-21

Jun-20

Receivables – June 2021 v June 2020

Circular Debt – Transmission, Distribution and Recovery Losses

Source: NEPRA’s State of Industry Report

2.43%

2.83%

2.76%

2.78%

18.32%

17.61%

18.86%

17.95%

12.29%

9.75%

11.23%

2.70%

0.00% 5.00% 10.00% 15.00% 20.00% 25.00% 30.00% 35.00%

2017-2018

2018-2019

2019-2020

2020-2021

Transmission loss Distribution Losses Recovery Loss

RFO Generation in the country

Source: NEPRA’s State of Industry Report

35,216 34,449

37,108

28,159

13,826

7,909

10,596

50.51%

46.76%47.08%

30.60%

15.47%

9.79%11.96%

0.00%

10.00%

20.00%

30.00%

40.00%

50.00%

60.00%

-

5,000

10,000

15,000

20,000

25,000

30,000

35,000

40,000

2014-15 2015-16 2016-17 2017-18 2018-19 2019-20 2020-2021

GW

H

RFO generation (GWH) Percentage of RFO in total thermal generation

THANK YOU!

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