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Market Research Report : Solar photovoltaic market in india 2014 - Sample

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Abstract :
Netscribes’ latest market research report titled Solar Photovoltaic Market in India 2014 states that the renewable energy sector is gaining prominence in India. With the country facing a continuous shortfall in the supply of conventional sources required to meet the increasing demand for energy in recent years, the focus is gradually shifting from conventional to renewable sources of energy. In order to reduce the current demand-supply gap for electricity within the country, the renewable energy sector has to be given high importance. With several solar PV projects coming up under the Jawaharlal Nehru National Solar Mission (JNNSM), the demand for PV cells and modules is expected to increase significantly. Moreover, the capital costs involved in setting up solar PV projects in India, along with the feasible geographical location of the country that enables it to receive around 3,000 hours of sunshine each year, makes solar PV a highly viable option for electricity generation. The domestic solar PV industry has also attracted significant investments over the past few years. These factors will ensure that the market continues to exhibit steady future growth.
The Government of India is actively involved in the development of the renewable energy sector. Through its various programs, it has directly and indirectly benefitted the solar PV industry. The market is characterized by high competition among players. Although the import of low cost products from China has had a negative impact on the business of organized players, the market continues to exhibit steady growth which is expected to benefit the industry as a whole.

Table of Contents :
Slide 1: Executive Summary

Macroeconomic Indicators
Slide 2: GDP at Factor Cost: Quarterly (2010-11, 2011-12, 2012-13, 2013-14), Inflation Rate: Monthly (Jul 2013 – Dec 2013)
Slide 3: Gross Fiscal Deficit: Monthly (Feb 2013 – Jul 2013), Exchange Rate: Half Yearly (Aug 2013 – Jan 2014)
Slide 4: Lending Rate: Annual (2008-09, 2009-10, 2010-11, 2011-12), Trade Balance: Annual (2009-10, 2010-11, 2011-12, 2012-13), FDI: Annual (2009-10, 2010-11, 2011-12, 2012-13)

Introduction
Slide 5: India – Energy Scenario and Region-Wise Installed Capacity
Slide 6: India – Energy Demand-Supply Forecasts (2006-07, 2011-12, 2016-17e)
Slide 7: Renewable Energy Scenario, Energy Market Segmentation and Renewable Energy Market Segmentation
Slide 8: Relevance of Solar Power in Indian Power Sector
Slide 9: Classification of Solar Photovoltaic cells
Slide 10: Types of PV Systems
Slide 11-12: Solar Photovoltaic Market – Overview of Applications

Market Overview
Slide 13: Solar Photovoltaic – Market Overview, Cumulative PV Installed Capacity – Growth (2009 – 2018e)
Slide 14: Solar Photovoltaic – Quarterly Capacity Additions(Q1 2013 – Q4 2013), Policy – Wise Capacity Contribution (2013), PV Modules Used: Segmen

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Market Research Report : Solar photovoltaic market in india 2014 - Sample

  1. 1. Insert Cover Image using Slide Master View Do not distort Solar Photovoltaic Market – India November 2014
  2. 2. 2 SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT Executive Summary Market Solar PV market in India is expected to grow at a CAGR of ~x% between 2014 and 2018 to reach ~xx GW Although overall project costs are rising, the market has continued to grow steadily Gujarat and Rajasthan together account for ~y% of the total solar PV installations in India Drivers and Challenges Competitive Landscape Drivers –Feasible Geographical Location –Declining Capital Costs for Solar PV –Dropping Solar Power Rates –Depleting Coal Reserves –India Remains Energy Deficient –Increasing Cost of Electricity from Conventional Sources –Time of Commissioning Government Initiatives Major Players Company A Company B Company C Company D Company E Company F Major Government Bodies Research and Development Initiatives Jawaharlal Nehru National Solar Mission (JNNSM) Subsidies and Incentives Rural Electrification Programme Challenges –Capital Intensive Nature –Competition from Chinese Firms –Lack of Awareness
  3. 3. 3 •Macro-Economic Indicators •Introduction •Market Overview •Supply Chain Analysis •Drivers and Challenges •Government Initiatives •Trends •Recent Developments •Competitive Landscape •Strategic Recommendations •Appendix SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  4. 4. 4 SAMPLE Economic Indicators (1/3) D C B A 11 INR tn Q4 x4 a4 b4 Q3 x3 a3 b3 Q2 x2 a2 b2 c2 Q1 x1 a1 b1 c1 2010-11 2011-12 2012-13 2013-14 GDP at Factor Cost: Quarterly Inflation Rate: Monthly B A 0 A B % Nov 2013 - Dec 2013 a4 Oct 2013 - Nov 2013 a4 Sep 2013 - Oct 2013 a3 Aug 2013 - Sep 2013 a2 Jul 2013 - Aug 2013 a1 SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  5. 5. 5 SAMPLE Renewable energy is gaining prominence in India’s power sector Renewable Energy Market Segmentation A3 A2 A1 A4 A3 A2 A1 A4 Small Hydro Power Solar Bio-Power Wind Renewable Hydro Nuclear Thermal Total installed capacity of power is ~A GW Total installed capacity of renewable energy is A GW • Principal sources of renewable energy are:  Wind Energy  Small Hydro up to 25 MW  Biogas  Solar Energy ⁻ Solar Thermal ⁻ Solar Photovoltaic (PV) • Renewable energy capacity reached x GW presently, accounting for a% of the total installed power capacity in India • India plans to double its renewable energy capacity to xx MW by 2017 • Government plans to add xx GW of renewable power generation over the next five years, more than twice the xx GW added during the 11th Five Year Plan • The Ministry of New and Renewable Energy (MNRE) plans to increase the total renewable energy capacity to more than xx GW during 2012-17 Note: Figures are in terms of Installed Capacity, as on 31st Jul 2014 Renewable Energy Scenario Energy Market Segmentation SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  6. 6. 6 SAMPLE PV systems are generally classified according to their functional and operational requirements Cell Material Module Efficiency Surface Area Requirement (per KWp) Monocrystalline silicon XX XX Polycrystalline silicon XX XX Thin film (CI/GS/Se) XX XX Thin-film (CdTe) XX XX Amorphous silicon (a-Si) XX XX PV Cells – Overview Grid Connected XX Types of PV Systems XX Off-grid XX Hybrid System SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  7. 7. 7 SAMPLE Solar Photovoltaic Market will have a significant rate of growth in the near future • XX • XX • XX • XX • XX • XX • XX • XX Solar Photovoltaic Market – Overview (1/x) Cumulative PV Installed Capacity – Growth D C B A 0 MW XX FY 2018e a10 FY 2014 a6 FY 2013 a5 FY 2012 a4 FY 2017e a9 FY 2016e a8 FY 2015e a7 FY 2011 a3 FY 2010 a2 FY 2009 a1 SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  8. 8. 8 SAMPLE Photovoltaic market in India is largely import dependent with current low domestic manufacturing capacity Modules Used – Segmentation Indian Solar PV Manufacturing Capacity (MW) x y Thin Film Crystalline 2012 A B C D E MW Modules E Cells D Wafers C Ingot B Polysilicon A 2012 Solar Photovoltaic Market – Overview (2/x) Quarterly Capacity Additions Policy – Wise Capacity Contribution (2013) A 0 C B Q4 2013 (Jan-Mar) a4 Q3 2013 (Oct-Dec) a3 Q2 2013 (Jul-Sep) a2 Q1 2013 (Apr-Jun) a1 MW D C A B F E RPO REC Private Initiative CPSUs MNRE Initiatives State Policy SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  9. 9. 9 SAMPLE Abundant sunshine combined with declining prices of modules is boosting the solar PV market Impact • XX • XX • XX Feasible Geographical Location Impact • Cost of setting up PV projects in India has been steadily declining as a result of drop in PV prices globally • This has made PV projects more viable and is leading to greater demand for PV generators Declining Capital Costs for Solar PV Benchmark Capital Costs for Solar PV 200 100 0 INR mn/MWp 2014-15e a6 2013-14 a5 2012-13 a4 2011-12 a3 2010-11 a2 2009-10 a1 Note: sq mt refers to square metres SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  10. 10. 10 SAMPLE • Price of electricity has been rising due to increase in the price of coal • According to Coal India, average increase in the price of Grade E coal will be xx% while that of Grade F coal will be x% • As a result we see the price of electricity has been increasing over the years • The tariff rates have been rising at a CAGR of a% since 2010 • Increase in the price of conventionally generated electricity has further propelled the need for electricity generated through renewable sources Increasing Cost of Electricity from Conventional Sources Rising cost of electricity along with time of commissioning is boosting the solar PV market Impact Impact • Solar photovoltaic power projects take the least time of commissioning •Other renewable energy sources involve much longer time to get design objectives and specifications of the project verified Time of Commissioning 0.0 A B C D E F G H I J K L M N O P Years a4 Gas a3 Wind a2 Solar PV Hydro a5 Coal a1 Years of Commissioning SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  11. 11. 11 SAMPLE Subsidy structure of solar cells are hurting domestic solar industry Impact • China is one the biggest economies when it comes to solar PV along with Italy and Germany • China has a global market share of approximately x% in PV cells and xx% in the PV modules industry • China exports about x% of its solar manufactures at very cheap prices • Dumping activities by Chinese firms are bleeding the domestic solar manufacturing industry • Indian firms are producing at only x-y% of their total capacity due to the excess supply Competition from Chinese Firms Import of PV cells from China D C B A 0 a2 2009 a1 a5 2012 a4 2011 a3 2010 INR mn A 2014 a6 2013 Note: Figures are HS Code: 85414011 Solar Cells/Photovoltaic Cells Whether Or Not Assembled In Module/Panel for the respective fiscal years SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  12. 12. 12 SAMPLE Major Government Bodies Key Government bodies working towards the development of solar PV energy and other renewable energy resources XX XX XX •XX •XX •XX SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  13. 13. 13 SAMPLE Government initiated the Jawaharlal Nehru National Solar Mission to… Jawaharlal Nehru National Solar Mission (JNNSM) •XX •XX •XX •XX •XX •XX Schemes •XX •XX Targets Overview Outcome •XX •XX Applications Segmented 2020 Target (MW) On-grid Ground-mount X Off and On-Grid Building-mount X Off-grid Rural X Off-grid Industrial X SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  14. 14. 14 SAMPLE …facilitate growth and development of the solar photovoltaic sector Jawaharlal Nehru National Solar Mission (JNNSM) Application Segment Target for Phase I (2010-13) Cumulative Target for Phase-II (2013-17) Cumulative Target for Phase-III (2017-22) X X X X X X X X X X X X Special Incentive Packages •XX •XX •XX •XX SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  15. 15. 15 SAMPLE Advent of cost effective solar hybrid generators has widened the consumer base Solar Hybrid Generators Solar PV and Wind Solar PV and Diesel XX •XX •XX XX SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  16. 16. 16 SAMPLE Policy and Project Outlook State Policies XX XX XX XX XX XX XX XX XX XX XX XX XX XX •XX SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  17. 17. 17 SAMPLE Policy and Project Outlook Renewable Purchase Obligation XX States Favorable Neutral XX XX XX XX XX XX XX XX XX XX XX XX Analysis of State-Wise RPO Regulation Across India(1/x) SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  18. 18. 18 SAMPLE Porter’s Five Forces Analysis Competitive Rivalry XX Bargaining Power of Suppliers XX Bargaining Power of Buyers XX Threat of Substitutes XX Threat of New Entrants XX Impact XX Impact XX Impact XX Impact XX Impact XX SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  19. 19. 19 SAMPLE Competitive Benchmarking (1/x) Public Trading Comparable (FY 2013) Company A Company B Company C Company D Market Capitalization (INR mn) XX XX XX XX Share Price (INR) XX XX XX XX EV/EBITDA (x) XX XX XX XX EV/Revenue (x) XX XX XX XX PE Ratio XX XX XX XX Note: Market Capitalization is as on 08/09/2014; Share Price is as on 05/09/2014; PE Ratio is as on 08/09/2014 SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  20. 20. 20 SAMPLE Key Ratios of Top 3 Companies – Operational Basis (FY 2013) (1/3) Competitive Benchmarking (2/x) A 0 B C % Company C a2 a1 c2 c1 Company B b2 b1 Company A Operating Margin Net Margin • XX • XX • XX SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  21. 21. 21 SAMPLE Public: Domestic Company – Company A (1/4) Key People Products and Services Company Information Offices and Centres – India Corporate Address XX Tel No. XX Fax No. XX Website XX Year of Incorporation XX Ticker Symbol XX Stock Exchange XX Category Products/Services Solar PV XX Name Designation XX XX XX XX XX XX XX XX Head Office Kolkata SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  22. 22. 22 SAMPLE Financial Snapshot Key Ratios Financial Summary • The company incurred a net loss of INR 212.1 mn in FY 2013, as compared to net loss of INR 1,666.9 mn in FY 2012 • The company reported total income of INR 1,819.5 mn in FY 2013, registering a decrease of 37.35% over FY 2012 • The company earned an operating margin of -7.28% in FY 2013, an increase of 89.68 percentage points over FY 2012 • The company reported debt to equity ratio of negative 4.93 in FY 2013 Key Financial Performance Indicators Indicators Value (08/09/2014) Market Capitalization (INR mn) 390.0 Total Enterprise Value (INR mn) 5,465.7 EPS (INR) -27.96 PE Ratio (Absolute) N.A. Total Income Net Profit/Loss -212.1 -1,666.9 -17.8 0 1000 2000 3000 -2,000 -1,500 -1,000 -500 0 INR mn INR mn 2013 1819.5 2012 1324.7 2011 2061.5 Public: Domestic Company – Company A (2/4) Particulars y-o-y change (2013-12) 2013 2012 2011 Profitability Ratios Operating Margin 89.68 -7.28% -96.95% 4.79% Net Margin 114.17 -11.66% -125.83% -0.87% Profit Before Tax Margin 114.17 -11.66% -125.83% 0.78% Return on Equity N.A. 31.13% N.A. -0.98% Return on Capital Employed N.A. -6.85% N.A. 2.21% Return on Working Capital N.A. 6.88% N.A. 169.70% Return on Assets N.A. -2.50% N.A. 1.59% Return on Fixed Assets N.A. -3.90% N.A. 2.80% Cost Ratios Operating costs (% of Sales) -89.96 108.69% 198.65% 95.00% Administration costs (% of Sales) 2.48 6.30% 3.82% 4.52% Interest costs (% of Sales) -1.43 16.06% 17.49% 8.35% Liquidity Ratios Current Ratio N.A. 0.43 N.A. 1.03 Cash Ratio N.A. 0.03 N.A. 0.16 Leverage Ratios Debt to Equity Ratio N.A. -4.93 N.A. 1.74 Debt to Capital Ratio N.A. 1.25 N.A. 0.63 Interest Coverage Ratio -90.40% -0.54 -5.64 0.60 Efficiency Ratios Fixed Asset Turnover N.A. 0.45 N.A. 0.56 Asset Turnover N.A. 0.29 N.A. 0.32 Current Asset Turnover N.A. 1.05 N.A. 1.09 Working Capital Turnover N.A. -0.79 N.A. 33.95 Capital Employed Turnover N.A. 0.57 N.A. 0.40 Improved Decline SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  23. 23. 23 SAMPLE Key Business Segments Key Geographic Segments Business Highlights Description News Overview XX Manufacturing Capacity XX 100% 0% 20% 40% 60% 80% 100% 2013 100% 80% 60% 40% 20% 0% 2012 100% India India is the only geographic segment in which the company has been operating for the last four years Public: Domestic Company – Company A (3/4) Solar Photovoltaic Cells and Modules It operates only in the solar PV cells and modules segment SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  24. 24. 24 SAMPLE •XX •XX •XX •XX T O W S Public: Domestic Company – Company A (4/4) SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  25. 25. 25 SAMPLE Key People Products and Services Company Information Offices and Centres – India Category Products/Services Solar PV Solutions On-Grid Modules, Off-Grid Modules, Polycrystalline Modules, Monocrystalline Modules and Customized PV System Name Designation •XX •XX •XX •XX •XX •XX •XX •XX Corporate Address •XX Tel No. •XX Fax No. •XX Website •XX Year of Incorporation •XX Private: Domestic Company – Company B (1/5) Head Office Bangalore SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  26. 26. 26 SAMPLE Shareholders of the Company as on 30/09/2013 Ownership Structure Name No. of Shares held •XX •XX •XX •XX •XX •XX •XX •XX Note: Ownership structure corresponds to Date of AGM: 30/09/2013 Private: Domestic Company – Company B (2/5) 100.0% Directors or relatives of directors SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  27. 27. 27 SAMPLE Financial Snapshot Key Ratios Particulars y-o-y change (2013-12) 2013 2012 2011 2010 Profitability Ratios Operating Margin 4.97 9.16% 4.19% 7.19% 9.56% Net Margin 2.94 5.90% 2.96% 7.05% 5.80% Profit Before Tax Margin 5.17 9.68% 4.51% 7.35% 9.97% Return on Equity 2.91 19.41% 16.50% 52.65% 32.42% Return on Capital Employed 4.56 11.19% 6.63% 14.40% 16.40% Return on Working Capital 39.67 131.95% 92.28% 158.78% 32.97% Return on Assets 2.38 7.15% 4.77% 11.65% 14.94% Return on Fixed Assets 14.83 36.14% 21.31% 40.27% 27.36% Cost Ratios Operating costs (% of Sales) -5.01 90.79% 95.80% 92.79% 90.40% Administration costs (% of Sales) N.A. N.A. N.A. N.A. N.A. Interest costs (% of Sales) N.A. N.A. N.A. N.A. N.A. Liquidity Ratios Current Ratio 0.90% 1.09 1.08 1.12 2.86 Cash Ratio 602.55% 0.39 0.06 0.08 0.06 Leverage Ratios Debt to Equity Ratio -32.94% 1.70 2.53 2.73 2.26 Debt to Capital Ratio -12.22% 0.63 0.72 0.73 0.69 Interest Coverage Ratio N.A. N.A. N.A. N.A. N.A. Efficiency Ratios Fixed Asset Turnover -22.61% 3.92 5.07 5.59 2.85 Asset Turnover -31.60% 0.78 1.14 1.62 1.56 Current Asset Turnover -27.53% 1.19 1.64 2.44 2.23 Working Capital Turnover -34.75% 14.33 21.95 22.04 3.43 Capital Employed Turnover -41.16% 3.28 5.57 7.45 5.57 Improved Decline Financial Summary • The company earned a net profit of INR 168.7 mn in FY 2013, as compared to net profit of INR 115.6 mn in FY 2012 • The company reported total income of INR 2861.0 mn in FY 2013, registering a decrease of 27% over FY 2012 • The company earned an operating margin of 9.16% in FY 2013, an increase of 4.97percentage points over FY 2012 • The company reported debt to equity ratio of 1.70 in FY 2013, a decrease of 32.94% over FY 2012 Total Income Net Profit/Loss 200 300 400 100 0 5000 4000 3000 2000 1000 0 INR mn INR mn 2013 168.7 2861.0 2012 115.6 3910.8 2011 307.9 4366.0 2010 93.6 1614.3 Private: Domestic Company – Company B (3/5) SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  28. 28. 28 SAMPLE Business Highlights Description News Overview •XX Sales Network •XX Certification •XX Awards and Accolades •XX Recent Developments •XX Private: Domestic Company – Company B (4/5) SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  29. 29. 29 SAMPLE •XX •XX •XX •XX T O W S Private: Domestic Company – Company B (5/5) SOLAR PHOTOVOLTAIC MARKET IN INDIA 2014.PPT
  30. 30. 30 Thank you for the attention About Netscribes, Inc. Netscribes, Inc. is a knowledge-consulting and solutions firm with clientele across the globe. The company’s expertise spans areas of investment and business research, business and corporate intelligence, content-management services, and knowledge-software services. At its core lies a true value proposition that draws upon a vast knowledge base. Netscribes Inc. is a one-stop shop designed to fulfil clients’ profitability and growth objectives. Disclaimer: This report is published for general information only. Although high standards have been used in the preparation, “Netscribes” is not responsible for any loss or damage arising from use of this document. This document is the sole property of Netscribes and prior permission is required for guidelines on reproduction. Phone: +91 22 4098 7600 E-Mail: info@netscribes.com The Solar Photovoltaic Market – India 2014 report is a part of Netscribes’ Energy Series For any queries or customized research requirements, contact us at:

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