Gmr Power And Urban Infra Ltd · NSE:GMRP&UI
Gmr Power And Urban Infra — Q4 FY2023 Earnings Presentation
35 slides from Gmr Power And Urban Infra's earnings presentation, May 23, 2023
Slide 1: Investor Presentation cover letter to exchanges
May 23, 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 unde
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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 Highlights of Q4FY23 5 Financial Performance 6–9 - Energy Business 10 – 13 - Transportation and Urban Infrastructure Business 14 – 18 Strategy and Way Forward 19 –22 ESG Practices 23 – 24 Annexures 26 – 33 2
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 → ➢~1,150 acres in Under-development 3.4 MW 216 kms Tamil Nadu → 350 MW Land at strategic ➢Railwa
Slide 6: Corporate Structure
Corporate Structure GMR Power and Urban Infra Ltd. (GPUIL) 53.8% 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 Highlights – Q4FY23
Key Highlights – Q4FY23 • FY22 – Key Business highlights Achieved PLF of 91% and 89% in Warora and Kamalanga respectively against an All India Operational Average PLF of 61% Performance • Average Daily Traffic in Hyderabad Vijaywada and Ambala Chandigarh increased by 9% and 0.4% YoY respectively Pro
Slide 8: Performance Highlights
Performance Highlights Humility | Entrepreneurship | Teamwork agi Relationships | Deliver the fe | Learning And Inner Excellence | Social Respofsibility | Reset for individuel
Slide 9: GPUIL Performance Highlights: Consolidated Financials
GPUIL Performance Highlights Consolidated Financials1 • Gross Revenues ✓ FY23:▲35% YoY to INR 55.3 bn ✓ Q4FY23:▼1% QoQ; ▲18% YoY to INR 14.3 bn • EBITDA ✓ FY23:▼21% YoY to INR 3.9 bn ✓ Q4FY23:▼58% QoQ; ▼29% YoY to INR 578 mn • Net profit after tax2 ✓ FY23: Profit of INR 11.4 bn vs. loss of INR 6.5 b
Slide 10: GPUIL Performance Highlights: Operations and Segmental Revenue
GPUIL Performance Highlights FY23 Operational Performance Q4FY23 Operational Performance o Warora: 82% vs 66% YoY o Warora: 91% vs 87% YoY Energy – Energy – o Kamalanga: 77% vs 82% YoY o Kamalanga: 89% vs 79% YoY PLF PLF o Bajoli Holi: 27% o Bajoli Holi: 5% Highways o Hyderabad - Vijaywada: Highways
Slide 11: GPUIL Consolidated Debt
GPUIL Consolidated Debt Net Debt (Sector-wise) ^ Gross & Net Debt (INR bn) ^ (in INR bn, %age of total) 60 Others, 4 , 9% 11 Corporate, 25 , 49 51% Highways, 18 , 37% Gross Debt Cash & equivalents Net Debt Energy, 2 , 3% Net debt reduced by ~INR 1.5 bn QoQ Note : ^ As on March 31, 2023 FCCB not cons
Slide 12: Energy Business
Energy Business Humility | Entrepreneurship | Teamwork afi Relationships e fe | Learning And Inner Excellence | Social Respofsibility | Reset for individuel
Slide 13: Key Developments in FY23 – Energy Business
Key Developments in FY23 – Energy Business Warora Power Project • Revenue ▲26% YoY − PLF at 82% vs. 66% in FY22 • EBITDA ▲31% YoY • Cash profit of INR 1.9 bn vs. INR 495 mn in FY22 Kamalanga Power Project • Revenue ▲23% YoY − PLF at 77% vs. 82% in FY22 • EBITDA ▲11% YoY • Cash profit of INR 6.1 bn v
Slide 14: Key Developments in Q4FY23 – Energy Business
Key Developments in Q4FY23 – Energy Business Warora Power Project • Revenue ▲11% QoQ; ▲15% YoY − PLF at 91% vs. 89% in Q3FY23 and 87% in Q4FY22 • EBITDA ▼12% QoQ; ▼20% YoY • Cash profit of INR 511 mn vs. INR 806 mn in Q3FY23 and INR 393 mn in Q4FY22 Kamalanga Power Project • Revenue ▼7.8% QoQ;▲15% Y
Slide 15: GMR Energy Ltd (GEL) - 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 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY23 Revenue 11,720 13,010 4,168 4,773 6,488 7,463 160 160 63 EBITDA 3,687 3,222 1,297
Slide 16: Transportation and Urban Infrastructure Business (T&UI)
Transportation and Urban Infrastructure Business (T&UI)
Slide 17: Highway Business - Key Developments
Highway Business - Key Developments Hyderabad Vijayawada Project • Average Daily Traffic: FY23 ▲14% YoY; Q4FY23 ▲7% QoQ and ▲9% YoY − Sole Arbitrator has released report on the claim quantification under Change-in-Law and awarded gross claim of INR 16.72 bn − Report submitted by Sole Arbitrator was
Slide 18: Highway Business Assets Performance YoY
Highway Business Assets Performance YoY (figures in INR mn) Hyderabad-Vijaywada Ambala - Chandigarh GPEL Chennai ORR Particulars Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Q4FY22 Q4FY23 Revenue 579 668 159 184 125 225 199 187 EBITDA 473 519 80 110 (13) (69) 136 112 Interest 676 703 166 114 100 106 19
Slide 19: Urban Infrastructure – Potential to Unlock Value
Urban Infrastructure – Potential to Unlock Value Krishnagiri Special Investment Region: ~1,150 Acres • ~161 acres under discussion for sale to an agency of Tamil Nadu Govt. • Next phase of development being planned for ~210 acres under Joint Venture with TIDCO1 • Industrial cluster catering to elect
Slide 20: 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 Kanpur DFC Eastern Corridor of ~450 kms Contract GMR’s Scope Package GMR’s stretch of work Mughalsarai Mughalsarai to New Karc
Slide 21: Strategy and Way Forward
Strategy and Way Forward Humility | Entrepreneurship | Teamwork agi Relationships | Deliver the fe | Learning And Inner Excellence | Social Respofsibility | Reset for individuel
Slide 22: Maximizing value of existing assets & building a 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 23: Five 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 24: 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 ~161 acres under sale to agency of Tamil Nadu Govt. in FY24 o
Slide 25: ESG Practices
ESG Practices Humility | Entrepreneurship | Teamwork afi Relationships e fe | Learning And Inner Excellence | Social Respofsibility | Reset for individuel
Slide 26: ESG
ESG Environment Social • GKEL, GWEL and Bajoli Holi are ISO 14001 certified Environmental CSR Spend (Q4FY23) - INR 8.94 mn Management System Total beneficiaries - Over 75,000 • GKEL and GWEL have ISO 50001 in place • CSR activities implemented in areas of Education, Health and Livelihoods • Both GKE
Slide 27: Thank You
Thank You For further information, please visit Website: www.gmrpui.com or Contact: GPUIL–IR@gmrgroup.in
Slide 28: Annexures
Annexures Humility | Entrepreneurship | Teamwork afi ela
Slide 29: 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 27
Slide 30: Annexure A: GPUIL (Consolidated)
Annexure A : GPUIL (Consolidated) INR mn Q4FY22 Q3FY23 Q4FY23 FY22 FY23 Gross Revenue 12,111 14,474 14,279 41,018 55,247 Less: Revenue Share 412 477 496 1,516 1,915 Net Revenue 11,698 13,998 13,783 39,502 53,332 Total Expenditure 10,880 12,616 13,204 34,547 49,404 EBITDA 819 1,381 578 4,955 3,928 EB
Slide 31: Annexure B: Energy Business (Consolidated)
Annexure B : Energy Business (Consolidated) INR mn Q4FY22 Q3FY23 Q4FY23 FY22 FY23 Gross Revenue 6,698 10,331 9,692 21,751 34,732 Operating Expenditure 6,988 10,278 9,837 21,721 35,490 EBITDA (290) 53 (145) 30 (758) EBITDA margin -4% 1% -1% 0% -2% Other Income 131 26 578 693 706 Interest & Fin Charge
Slide 32: Annexure C: Warora (Standalone) Power Plant
Annexure C : Warora (Standalone) Power Plant INR mn Particulars Q4FY22 Q3FY23 Q4FY23 FY22 FY23 Total Revenue 4,168 4,313 4,773 12,994 16,345 Fuel - Consumption 2,348 2,694 3,125 7,733 10,162 Other Expenses 523 437 611 2,026 1,949 EBITDA 1,297 1,182 1,037 3,235 4,234 EBITDA margin 31% 27% 22% 31% 26%
Slide 33: Annexure D: Kamalanga (Standalone) Power Plant
Annexure D : Kamalanga (Standalone) Power Plant INR mn 9 Particulars Q4FY22 Q3FY23 Q4FY23 FY22 FY23 M Total Revenue 6,488 8,090 7,463 24,648 30,221 Fuel - Consumption 2,950 4,696 4,084 11,959 16,806 Other Expenses 1,144 1,198 1,016 4,364 4,179 EBITDA 2,394 2,196 2,363 8,326 9,236 EBITDA margin 37% 2
Slide 34: Annexure E: Bajoli Holi (Standalone) Power Plant
Annexure E : Bajoli Holi (Standalone) Power Plant INR mn Particulars Q3FY23 Q4FY23 FY23 Total Revenue 282 63 2,716 Fuel - Consumption - - - Other Expenses 140 301 1,000 EBITDA 142 (237) 1,716 EBITDA margin 50% - 63% Other Income 6 1 41 Interest & Finance Charges 940 943 3,659 Depreciation 173 242 76
Slide 35: Annexure F: Highway Business (Consolidated)
Annexure F : Highway Business (Consolidated) INR mn Q4FY22 Q3FY23 Q4FY23 FY22 FY23 Gross Revenue 1,474 1,604 1,760 5,319 6,550 Less: Revenue Share 412 477 496 1,516 1,915 Net Revenue 1,062 1,128 1,264 3,803 4,635 Operating Expenses 282 237 410 995 1,219 EBITDA 780 890 855 2,809 3,417 EBITDA margin 7
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