Azure Power Global Limited (NYSE:AZRE) Q4 2019 Earnings Conference Call Transcript

Jun 11, 2019 • 08:30 am ET


Azure Power Global Limited (NYSE:AZRE) Q4 2019 Earnings Conference Call Transcript


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Hello and welcome to the Azure Power Fiscal Fourth Quarter and Year-End 2019 Earnings Conference Call. All participants will be in listen-only mode. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. (Operator Instructions) Please note, this event is now -- is being recorded.

I would now like to turn the conference over to your host today, Nathan Judge. Please go ahead, sir.

Nathan Judge

Thank you, and good morning everyone, and thank you for joining us. After last night's close, the Company issued a press release announcing its financial results for the fourth fiscal quarter of 2019 ended March 31st, 2019. A copy of the press release and the presentation are available on the Investor section of Azure Power's website at

With me today are Inderpreet Singh Wadhwa, Founder, Chairman and CEO; and Pawan Kumar Agrawal, Chief Financial Officer. Inderpreet will provide a business update, and Pawan will discuss our fiscal fourth quarter financial performance, and he'll finish our prepared remarks by reiterating our fiscal 2020 guidance. After this, we will open up the call for questions.

Please note, our Safe Harbor statements are contained within our press release, presentation materials and available on our website. These statements are important and integral to all our remarks. There are risks and uncertainties that could cause our results to differ materially from those expressed or implied by such forward-looking statements. So we encourage you to review the press release we furnished in our Form 6-K and presentation on our website for a more complete description. Also contained in our press release and presentation materials are certain non-GAAP measures that we reconcile to the most comparable GAAP measures, and these reconciliations are also available on our website and in the press release and presentation materials.

Also on May 3rd, 2019, we announced the retirement of our Chairman and CEO, Inderpreet Singh Wadhwa for personal reasons. He will continue as Chairman and CEO until a new successor is named or December 31st, 2019, whichever is earlier. Even after the new CEO joins, Inderpreet will continue to work in capacity as an adviser until December 31st, 2019. The long transition period is to ensure a leadership consistency at the top and to ensure there are no impacts to the business and all our stakeholders. There is no -- there are no changes to our business plan and strategy, we remain committed to our plans. We will continue to operate with the same level of diligence and high execution standards that we have upheld since our inception. We are one of the leading solar power companies in India, the well diversified portfolio and strong counterparty credit offtake across 24 states. We remain available to answer any questions you may have and we assure you of our continued commitment to our mission, vision and our relationship with our stakeholders.

It is now my pleasure to hand it over to Inderpreet Singh Wadhwa, Founder, Chairman and CEO.

Inderpreet S Wadhwa

Thank you, Nathan, and a very good morning