Den Networks Limited · NSE:DEN

Den Networks — Q2 FY2018 Earnings Presentation

18 slides from Den Networks's earnings presentation, Nov 9, 2017

  1. Slide 1: FY / Q2'18 Results Investor Presentation

    Den Networks Ltd. FY / Q2’18 Results Investor Presentation 9th Nov , 2017

  2. Slide 2: Consolidated P&L highlights

    Consolidated P&L highlights Rs in crs Quarterly Gr% FY18 Q2 FY18 Q1 FY17 Q2 Q-o-Q Y-o-Y Revenue 328 313 264 5% 24% Opex* 114 121 120 -6% -5% % Revenue 35% 39% 45% EBITDA 82 61 27 33% 200% % Revenue 25% 20% 10% PAT 1 (10) (42) Key Highlights : Strong Turnaround at PAT level , led by EBITDA growth Cos

  3. Slide 3: Cable P&L highlights

    Cable P&L highlights Rs in crs Quarterly Gr% FY18 Q2 FY18 Q1 FY17 Q2 FY18 Q2 FY18 Q1 Revenue 308 291 243 6% 27% Opex* 93 100 97 -7% -4% % Revenue 30% 34% 40% EBITDA 83 61 29 37% 187% % Revenue 27% 21% 12% PAT 10 (2) (33) Key Highlights : EBITDA for the quarter at 27% of revenue FY18 H1 EBITDA at Rs

  4. Slide 4: Broadband P&L highlights

    Broadband P&L highlights Rs in crs Quarterly Gr% FY18 Q2 FY18 Q1 FY17 Q2 FY18 Q2 FY18 Q1 Revenue 20 21 21 -6% -5% Opex 21 20 22 2% -8% % Revenue 105% 96% 107% EBITDA -1 1 -2 -225% -39% % Revenue -5% 4% -7% PAT (9) (8) (8) Key Highlights : 10 New small towns - roll out commenced ; marginal impact on

  5. Slide 5: Healthy balance sheet

    Healthy balance sheet Sep'17 June'17 Mar'17 Gearing Ratio (Net) 0.15 0.14 0.19 Net Debt to EBITDA 0.46 1.01 1.43 Subscription Sales O/s (Days) 78 74 70 5 © Den Networks Ltd. Confidential. For Internal Purposes Only

  6. Slide 6: Consol (Ind. AS) Highlights

    Consol (Ind. AS) Highlights Rs in crs Rs in crs Quarterly Revenue Quarterly EBITDA 328 82 315 313 59 61 293 53 264 27 17 Q2 17 Q3 17 Q4 18 Q1 18 Q2 17 Q2 17 Q3 17 Q4 18 Q1 18 Q2 Quarterly PBT Cash Generated 72 10 57 17 Q2 17 Q3 17 Q4* 18 Q1 18 Q2 (12) (5) 33 31 24 (29) (43) 17 Q2 17 Q3 17 Q4 18 Q1 1

  7. Slide 7: Consolidated Debt position (Ind. AS)

    Consolidated Debt position (Ind. AS) In crs Gross Debt Net Debt 753 335 697 522 519 171 493 169 123 133 Sep'16 Dec'16 Mar'17 June'17 Sep'17 Sep'16 Dec'16 Mar'17 June'17 Sep'17 7 © Den Networks Ltd. Confidential. For Internal Purposes Only

  8. Slide 8: Consol Balance sheet

    Consol Balance sheet INR Crore Ind. AS Jun'17 Mar'17 Mar'17 Sep'17 Impact (Post Roll-up) (Post Roll-up) (Reported) Share Capital 195 194 194 194 - Reserves & Surplus 605 609 620 718 98 Networth 800 802 813 912 98 Minority Interest 101 94 90 90 0 Short & Long Term Debt 493 519 522 522 - Defferred Rev

  9. Slide 9: Consol Income Statement

    Consol Income Statement INR Crores Actuals Growth % 2Q'18 1Q'18 2Q'17 1H'18 1H'17 Q-o-Q (Gr%) Y-o-Y (Var%) Y-T-D (Gr%) Subscription- Cable 164 154 132 318 244 7% 24% 31% Subscription - Broadband 19 21 21 40 38 -10% -8% 4% Placement 88 89 86 177 173 -2% 2% 3% Other Operating Income 20 26 21 46 38 -21

  10. Slide 10: FY18 Q2 Segment Highlights: Cable

    FY18 Q2 –Segment Highlights (Ind. AS) Cable EBITDA : o Q2 : 27% of Revenue o Quarter : FY18 Q2 at Rs 83 crs Vs Rs 61 crs in FY18 Q1 & Rs 29 crs in FY17 Q2 o H1 : Rs 143 crs Vs Rs 82 crs in FY17 H1 (Gr% of 75%) Phase wise EBITDA % (pre- activation) : o DAS 1 : 30% o DAS 2 : 28% o DAS 3 : 5% Subscript

  11. Slide 11: Cable Highlights (Ind. AS)

    Cable Highlights (Ind. AS) Subscription Revenue Cable Quarterly EBITDA Rs in crs Rs in crs 83 164 157 154 59 61 144 52 132 29 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 17 Q2 17 Q3 17 Q4 18 Q1 18 Q2 Subscription Collection efficiency Opex* % Revenue 40% 34% 95% 95% 96% 37% 38% 93% 93% 30% 17 Q2 17 Q3 17 Q4 18 Q1

  12. Slide 12: Phase wise Per Box Subscription Revenue – Ind. AS

    Phase wise Per Box Subscription Revenue – Ind. AS DAS 1 DAS 2 DAS 3 DAS 4 Total 74 72 69 63 46 45 34 35 61 60 57 49 90 82 87 76 109 117 100 107 FY17 Avg. FY17 Q4 FY18 Q1 FY18 Q2 12 © Den Networks Ltd. Confidential. For Internal Purposes Only

  13. Slide 13: Cable Income Statement

    Cable Income Statement INR Crore Actuals Growth % 2Q'18 1Q'18 2Q'17 1H'18 1H'17 Q-o-Q (Gr%) Y-o-Y (Var%) Y-T-D (Gr%) Subscription 164 154 132 318 244 7% 24% 31% Placement 88 89 86 177 173 -2% 2% 3% Activation 36 23 5 58 40 58% 667% 45% Other Operating Income 20 26 21 46 38 -21% -1% 22% Total Income

  14. Slide 14: Broadband

    Broadband 14 © Den Networks Ltd. Confidential. For Internal Purposes Only

  15. Slide 15: 2Q'18 – Highlights (Broadband Results)

    2Q’18 – Highlights (Broadband Results) Total Revenue Total EBITDA (in crs) (in crs) 1 21 21 21 21 0 20 0 2Q'17 3Q'17 4Q'17 1Q'18 2Q'18 -1 -2 FY17 Q2 FY17 Q3 FY17 Q4 FY18 Q1 FY18 Q2 © Den Networks Ltd. Confidential. For Internal Purposes Only

  16. Slide 16: Broadband Highlights

    Broadband Highlights Homes passed (‘000) APRU (INR) 864 868 879 879 845 775 752 733 725 664 FY17 Q2 FY17 Q3 FY17 Q4 FY18 Q1 FY18 Q2 FY17 Q2 FY17 Q3 FY17 Q4 FY18 Q1 FY18 Q2 Subscribers Avg consumption / Household (in GB) 78 205 75 193 67 177 159 59 140 51 * Year ToFY17 DateQ2 FY17 Q3 Numbers FY17 Q4

  17. Slide 17: Broadband Income Statement

    Broadband Income Statement INR Crores Actuals Growth % 2Q'18 1Q'18 2Q'17 1H'18 1H'17 Q-o-Q (Gr%) Y-o-Y (Var%) Y-T-D (Gr%) Total income 20 21 21 41 39 -6% -5% 5% - - Personnel Costs 3 3 4 7 9 7% -20% -23% Other Opex 17 17 18 35 41 1% -4% -15% Total Expenditure 21 20 22 41 50 2% -8% -17% EBITDA (1) 1

  18. Slide 18: For Further Information Please Contact

    For Further Information Please Contact Jatin Mahajan Shogun Jain / Payal Dave InvestorRelations@DenOnline.in jshogun@sgapl.net / dpayal@sgapl.net +91 11 4052 2200 +91 77 3837 7756 / +91 98 1991 6314 DEN Networks Ltd. Strategic Growth Advisors Pvt. Ltd. (CIN No. L92490DL2007PLC165673) (CIN No. U74140

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