Reliance Power Limited (RPL) has issued a clarification regarding recent media reports about enforcement agency actions, emphasizing that these actions have no bearing on the company's operations or stakeholders. The power generation company, which operates independently from other Reliance Group entities, sought to distance itself from allegations involving Reliance Communications Limited (RCOM) and Reliance Home Finance Limited (RHFL).

Key Points of Clarification

• No Impact on Operations: RPL stated that the enforcement agency actions have absolutely no impact on its business operations, financial performance, shareholders, employees, or any other stakeholders.

• Separate Entity: The company emphasized that it is a separate and independent listed entity with no business or financial linkage to RCOM or RHFL.

• Historical Context: The allegations mentioned in media reports appear to concern transactions over 10 years old involving RCOM and RHFL, not Reliance Power.

• Status of Other Entities: RCOM has been undergoing Corporate Insolvency Resolution Process for over 6 years, while RHFL has been fully resolved pursuant to a Supreme Court judgment.

• Leadership Clarification: RPL noted that Anil D. Ambani is not on the company's Board of Directors.

Company Focus and Operations

Reliance Power reaffirmed its commitment to its business plans and creating value for all stakeholders. The company operates a significant power generation portfolio, including:

• Total operating capacity of 5,305 megawatts
• The 3,960 megawatt Sasan Power Limited plant, described as the world's largest integrated coal-based power plant

Legal and Regulatory Aspects

The company disclosed that similar allegations to those reported in the media are currently sub-judice and pending before the Securities Appellate Tribunal, according to publicly available information.

In conclusion, Reliance Power's statement aims to reassure its stakeholders that the recent enforcement actions against other Reliance Group entities do not affect its operations or financial standing. The company continues to focus on its core business of power generation and remains committed to its operational goals.

Reliance Power Limited, a key player in India's private power generation sector, has released its financial results for the first quarter, revealing a mixed performance with some improvements and challenges.

Financial Highlights

• Total Income: The company reported a total income of ₹2,025.00 crore (US$ 236.00 million).
• EBITDA: Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) stood at ₹565.00 crore (US$ 66.00 million), marking a decline from ₹650.00 crore in the same quarter last year.
• EBITDA Margin: The EBITDA margin decreased to 27.90% from 32.66% year-over-year.
• Net Profit: Reliance Power turned around its consolidated performance, reporting a net profit of ₹44.70 crore, compared to a loss of ₹97.90 crore in the same quarter of the previous fiscal year.
• Standalone Performance: On a standalone basis, the company's net profit decreased to ₹188.00 crore from ₹199.00 crore year-over-year.

Operational Performance

Sasan Ultra Mega Power Project

The 3,960 MW plant in Madhya Pradesh continued to be among the top-performing plants in the country, achieving a Plant Load Factor (PLF) of approximately 91%.

Rosa Power Plant

The 1,200 MW plant in Uttar Pradesh maintained high availability at around 97%.

Debt Management

• Debt Servicing: The company serviced a total debt of ₹584.00 crore (US$ 70.00 million).
• Debt-to-Equity Ratio: Reliance Power maintains one of the lowest debt-to-equity ratios in the industry.

Financial Position

• Net Worth: The company's net worth stood at ₹16,431.00 crore (US$ 1,920.00 million).

New Energy Initiatives

In a significant development, Reliance Power's subsidiary, Reliance NU Energies, has secured a Letter of Award (LOA) from SJVN Limited, a leading Navratna public sector enterprise, for a major renewable energy project:

• Project Capacity: 350 MW
• Solar Capacity: 600 MW Solar DC
• Battery Storage: 175 MW / 700 MWh Battery Energy Storage System (BESS)
• Tariff: ₹3.33/kWh, awarded through competitive bidding

This award positions Reliance Power as India's largest player in the Solar + BESS segment, with a total capacity of 2.4 GW of Solar DC and over 2.5 GWh of BESS, reinforcing its leadership in the new energy landscape.

Conclusion

Reliance Power continues to navigate challenges in the power sector while capitalizing on opportunities in the evolving energy landscape, particularly in renewable and storage technologies. The company's improved net profit position and strategic moves in the renewable sector indicate its efforts to strengthen its market position and financial health.