Gmr Power And Urban Infra Ltd · NSE:GMRP&UI
Gmr Power And Urban Infra — Q2 FY2024 Earnings Presentation
37 slides from Gmr Power And Urban Infra's earnings presentation, Nov 4, 2023
Slide 1: Cover letter to stock exchanges: Investor Presentation
November 04, 2023 BSE Limited, National Stock Exchange of India Ltd. Phiroze Jeejeebhoy Towers, Exchange Plaza, Plot no. C/1, G Block, Dalal Street, Bandra-Kurla Complex, Bandra (E) Mumbai 400001 Mumbai - 400051 Scrip: 543490 Symbol: GMRP&UI Dear Sir/Madam, Sub: Investor Presentation Ref: Disclosure
Slide 2: Company values
Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality 0
Slide 3: Disclaimer
DISCLAIMER All statements, graphics, data, tables, charts, logos, names, figures and all other statements relating to future results of operation, financial condition, business information (“Contents”) contained in this document (“Material”) is prepared by GMR prospects, plans and objectives, are ba
Slide 4: Table of Contents
Table of Contents Particulars Pg. No. Overview 3–4 Key Business update 5 Financial Performance 6–9 - Energy Business 10 – 14 - Transportation and Urban Infrastructure Business 15 – 20 Strategy and Way Forward 21 – 24 ESG Practices 25 – 26 Annexures 28 – 35 Humility | Entrepreneurship | Teamwork & Re
Slide 5: Snapshot of Businesses
Snapshot of Businesses Energy Highways & EPC Urban Infra ➢ 2 Coal Plants → ➢Solar → ➢2 Annuity Projects → Special Economic Operational 26 MW 133 kms Zone (SEZ) 1,650 MW ➢2 Toll Projects → ➢2 Wind Plants → ➢~910 acres in Tamil Under-development 3.4 MW 216 kms Nadu → 350 MW Land at strategic ➢Railways
Slide 6: Corporate Structure
Corporate Structure GMR Power and Urban Infra Ltd. (GPUIL) 56.6% 82% 100% 100% Special Investment GMR Energy Other Energy Assets GMR Highways Ltd. Region Operational Projects Stake Operational Projects Stake Annuity Projects Stake Under Stake Development Warora Plant (Coal) 92.0% Rajahmundry Plant 4
Slide 7: Key Business Update
Key Business Update Energy 2.0 Strategy - Capturing New Growth Opportunities in Adjacent Business areas FY22 – Key Business highlights ➢ GMR Smart Electricity Distribution Private Limited (GSEDPL), a wholly-owned subsidiary$ of GPUIL, had received Letter of Award (LOA) from two UP Discoms1, to imple
Slide 8: Performance Highlights
Performance Highlights Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 9: GPUIL Performance Highlights – Q2FY24
GPUIL Performance Highlights – Q2FY24 Consolidated Financials1 • Total Income: ✓ ▼43% QoQ;▼58% YoY to INR 6.8 bn • EBITDA ✓ ▼32% QoQ;▲53% YoY to INR 1.7 bn with EBITDA margins at 28% (▲21% YoY from 7% margins) reflecting the efforts to improve the operational efficiencies in the business • Net profi
Slide 10: GPUIL Operational Performance Highlights
GPUIL Operational Performance Highlights Operational Performance Q2FY24 H1FY24 o Warora: 75% vs 55% YoY o Warora: 82% vs 74% YoY Energy – PLF o Kamalanga: 76% vs 64% YoY o Kamalanga: 79% vs 72% YoY o Bajoli Holi: 84% vs 63% YoY o Bajoli Holi: 75% vs 56% YoY o Hyderabad - Vijaywada:▲5.3% YoY o Hydera
Slide 11: GPUIL Consolidated Debt
GPUIL Consolidated Debt Net Debt (Sector-wise)^ Gross & Net Debt (in INR bn) ^ (in INR bn, %age of total) 55 5 Highways, Corporate, 16 , 32% 50 27 , 54% Others, 3 , 5% EPC , 0.4, 1% Gross Debt Cash & equivalents Net Debt SIR , 0.7, 1% Energy, 3 , 7% Corporate Highways Others EPC Energy SIR Reduction
Slide 12: Energy Business
Energy Business Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 13: Key Developments in Q2FY24 – Warora Power Project
Key Developments in Q2FY24 – Energy Business Warora Power Project • Total Income - Q2FY24: ▲49% YoY to INR 4.05 bn (primarily due to increased PLF) o PLF at 75% vs. 90% in Q1FY24 and 55% in Q2FY23 (QoQ decline in PLF due to maintenance activities) • EBITDA ▲74% YoY to INR 857 mn o EBITDA margins at
Slide 14: Key Developments in Q2FY24 – Kamalanga Power Project
Key Developments in Q2FY24 – Energy Business Kamalanga Power Project • Total Income - Q2FY24: ▼12% YoY to INR 6.87 bn o Decline in Total Income mainly attributable to realisation of lower average tariff in Q2FY24 compared with the corresponding period; impact also mitigated by higher PLF level YoY i
Slide 15: Key Developments in Q2FY24 – Bajoli Holi Hydro Power Project
Key Developments in Q2FY24 – Energy Business Bajoli Holi Hydro Power Project • Total Income - Q2FY24: ▲48% YoY to INR 1.93 bn o PLF at 84% vs. 66% in Q1FY24 and 63% in Q2FY23 (due to sturdy stabilisation of plant) • EBITDA ▲63% QoQ, ▲57% YoY to INR 1.61 bn o EBITDA margins at 84% (up 11% QoQ) • Post
Slide 16: GMR Energy Ltd - Operational & Financial Highlights YoY
GMR Energy Ltd (GEL) - Operational & Financial Highlights YoY (figures in INR mn) GEL Consolidated Warora Kamalanga Solar Bajoli Holi Particulars Proforma Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 Total Income 11,956 12,959 2,718 4,049 7,779 6,871 160 110 1,300 1,929 EBIT
Slide 17: Transportation and Urban Infrastructure Business (T&UI)
Transportation and Urban Infrastructure Business (T&UI) Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 18: Key Developments in Q2FY24 – Highway Business
Key Developments in Q2FY24 – Highway Business Hyderabad Vijayawada Project • Average Daily Traffic - Q2FY24: ▼7.8% QoQ and ▲5.3% YoY − Sole Arbitrator has released report on the claim quantification under Change-in-Law and quantified gross claim of INR 16.72 bn − Report submitted by Sole Arbitrator
Slide 19: Key Developments in Q2FY24 – Highway Business
Key Developments in Q2FY24 – Highway Business Chennai ORR Project • Received arbitration award of INR 5.1 bn Pochanpalli Project • Delhi High Court (HC) upheld the interpretation of the Company on frequency of Major Maintenance • Order is under challenge by NHAI in the Division Bench of Delhi HC. Ar
Slide 20: Highway Business Assets Performance YoY
Highway Business Assets Performance YoY (figures in INR mn) Hyderabad-Vijaywada Ambala - Chandigarh GPEL Chennai ORR Particulars Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 Q2FY23 Q2FY24 Total Income 1,080 1,165 175 192 217 254 198 223 EBITDA 529 437 122 140 171 159 130 133 Interest 684 731 130 96 79
Slide 21: Urban Infrastructure – Potential to Unlock Value
Urban Infrastructure – Potential to Unlock Value Krishnagiri Special Investment Region: ~910 Acres • ~360 acres under discussion for sale to an agency of Tamil Nadu Govt. • Next phase of development being planned for ~55 acres • Industrial cluster catering to electronics, automobile, logistics, engi
Slide 22: EPC in Dedicated Freight Corridor Projects
EPC in Dedicated Freight Corridor Projects DFCC’s Project Network GMR’s Scope and Highlights • GMR along with JV partner has been awarded contract to construct a part of the DFC Eastern Corridor of ~450 kms Kanpur Contract GMR’s Scope Package GMR’s stretch of work Mughalsarai Mughalsarai to New Karc
Slide 23: Strategy and Way Forward
Strategy and Way Forward Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 24: Maximizing value of existing assets & building clean energy business
Maximizing value of existing assets & Building a Top Tier tech enabled Clean Energy business 3 pillars of our strategy going forward Nurture & Develop Enhance Value opportunities in Green of existing businesses Ecosystem • Aim for higher utilization of • Continued focus on hydro existing assets & ef
Slide 25: Overarching Principles to Operationalise the Strategy
To Operationalise the Strategy We Envision to Follow 5 Overarching Principles Principles ` High focus on ` Build on our group’s innovative, asset- strengths and light, platform-based leverage and technology- Deploy efficient Invest in emerging infrastructure assets capital structure and Enter strate
Slide 26: Clearly Defined Strategies to Capitalize on Industry Prospects
Clearly Defined Strategies to Capitalize on the Attractive Industry Prospects ⚫ Expedite receipt / settlement of pending operational and litigation claims Highways ⚫ Monetize the existing assets ⚫ Conclude current monetization efforts: o ~360 acres under sale to agency of Tamil Nadu Govt. in FY24 o
Slide 27: ESG Practices
ESG Practices Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 28: ESG – Remain focussed on our sustainability journey
ESG – Remain focussed on our sustainabilty journey Environment Social • GKEL, GWEL and Bajoli Holi are ISO 14001 certified Environmental CSR Spend (Q2 FY24) - INR 6.84 mn Management System Total beneficiaries - Over 30,000 • GKEL and GWEL have ISO 50001 in place • CSR activities implemented in areas
Slide 29: Thank You
Thank You For further information, please visit Website: www.gmrpui.com or Contact: GPUIL-IR@gmrgroup.in Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 30: Annexures
Annexures Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 31: Annexures index
Annexures Particulars No. Profitability Statement (Consolidated) A Financial Performance • Energy Sector (Consolidated) B • Warora (Standalone) C • Kamalanga (Standalone) D • Bajoli Holi (Standalone) E • Highways Sector (Consolidated) F Note Some totals may not match due to rounding-off differences
Slide 32: Annexure A: GPUIL (Consolidated)
Annexure A : GPUIL (Consolidated) INR mn Q2FY2023 Q1FY2024 Q2FY2024 H1FY2023 H1FY2024 Revenue 15,807 11,242 6,275 26,494 17,517 Other Income 462 662 511 1,409 1,173 Total Income 16,269 11,904 6,786 27,903 18,690 Less: Revenue Share 460 534 505 943 1,039 Net Income 15,809 11,370 6,281 26,961 17,652 T
Slide 33: Annexure B: Energy Business (Consolidated)
Annexure B : Energy Business (Consolidated) INR mn Q2FY2023 Q1FY2024 Q2FY2024 H1FY2023 H1FY2024 Revenue 9,236 7,274 2,787 9,829 10,061 Other Income 59 274 82 357 356 Total Income 9,295 7,548 2,869 10,186 10,417 Operating Expenditure 9,993 7,129 2,839 9,668 9,968 EBITDA (699) 419 30 518 449 EBITDA ma
Slide 34: Annexure C: Warora (Standalone) Power Plant
Annexure C : Warora (Standalone) Power Plant INR mn Particulars Q2FY2023 Q1FY2024 Q2FY2024 H1FY2023 H1FY2024 Revenue 2,695 4,148 3,910 7,260 8,058 Other Income 23 432 139 258 571 Total Income 2,718 4,580 4,049 7,518 8,629 Fuel - Consumption 1,760 2,722 2,724 4,343 5,447 Other Expenses 466 465 468 90
Slide 35: Annexure D: Kamalanga (Standalone) Power Plant
Annexure D : Kamalanga (Standalone) Power Plant INR mn Particulars Q2FY2023 Q1FY2024 Q2FY2024 H1FY2023 H1FY2024 Revenue 7,338 7,070 6,561 14,668 13,631 Other Income 440 753 310 808 1,064 Total Income 7,779 7,823 6,871 15,476 14,695 Fuel - Consumption 4,765 3,627 3,464 8,026 7,091 Other Expenses 913
Slide 36: Annexure E: Bajoli Holi (Standalone) Power Plant
Annexure E : Bajoli Holi (Standalone) Power Plant INR mn Particulars Q2FY2023 Q1FY2024 Q2FY2024 H1FY2023 H1FY2024 Revenue 1,290 1,353 1,913 2,370 3,266 Other Income 9 6 15 33 22 Total Income 1,300 1,359 1,929 2,404 3,288 Other Expenses 273 370 315 560 685 EBITDA 1,027 989 1,614 1,844 2,603 EBITDA ma
Slide 37: Annexure F: Highway Business (Consolidated)
Annexure F : Highway Business (Consolidated) INR mn Q2FY2023 Q1FY2024 Q2FY2024 H1FY2023 H1FY2024 Revenue 1,554 1,723 1,716 2,498 3,439 Other Income 51 88 35 49 122 Total Income 1,605 1,811 1,750 2,546 3,561 Less: Revenue Share 460 534 505 694 1,039 Net Income 1,145 1,277 1,246 1,852 2,522 Operating
GMR Power and Urban Infra — Q2 FY2024 Earnings Presentation on 6ix