Gtpl Hathway Ltd · NSE:GTPL
Gtpl Hathway — FY2020 Earnings Presentation
41 slides from Gtpl Hathway's earnings presentation, Apr 21, 2020
Slide 1: Cover letter to stock exchanges
GTPL Hathway Limited CIN: L64204GJ2006PLC048908 Registered Office: 202, 2nd Floor, Sahajanand Shopping Centre, Opp. Swaminarayan Temple, Shahibaug, Ahmedabad-380004, Gujarat. Phone: 079-25626470 Fax: 079-61400007 Ref. No.: GTPL/SE/2020 April 21, 2020 BSE Limited National Stock Exchange of India Limi
Slide 2: FY20 Annual & Q4 Results Update
FY20 ANNUAL & Q4 GTPL Hathway Limited RESULTS UPDATE APRIL 2020
Slide 3: Discussion Summary
DISCUSSION SUMMARY 1 Company Overview & Strategy 3 - 18 2 Key KPIs 19 - 23 3 Consolidated Financials 24 - 32 4 Standalone Financials 33 - 37
Slide 4: Company Overview & Strategy
Company Overview & Strategy
Slide 5: Leader across Key Cable Markets in India
Leader across Key Cable Markets in India Commenced Commenced Business Business from from Gujarat Gujarat (Ahmedabad in 2006 with city) in 2006 CATVwith services. CATV services. Grew to National MSO with footprints in 800+ towns across 12 States in India in 14 Years, providing both CATV & Broadband S
Slide 6: Key Highlights
Key Highlights Consistent Subscriber Base Growth Performance • Paying Subscriber base •Revenue Grown at CAGR of 24% in last 4 years •PAT Positive for Doubled in last 4 year; from 3.4 Mn in FY16 to Consecutive 4 years, since •EBITDA Grown at CAGR of FY16 7.5 Mn in FY20 30% in last 4 years Cash Positi
Slide 7: Delighting Stakeholders Over the years
Delighting Stakeholders Over the years 2007- 2017- 2011 2018 2012- 2019- 2006 2016 2020 • Hathway acquires 50% stake. • Public Issue & Listing on BSE & NSE. • Installed digital Headend at • Installed new Harmonic’s Digital Ahmedabad. Headend. • Commenced Broadband Services. • Entered Goa. • Entered
Slide 8: Financial Performance: Consolidated
Financial Performance : Consolidated • Total Revenue (Incl. EPC) increased by 88% Annually; Key Financial Highlights (in ₹ Mn) Increased by 37% Annually (Ex. EPC). • Subscription Revenue increased by 41% Annually FY20 FY20 • Placement Revenue increased by 56% Annually Incl. EPC Ex. EPC FY19 FY18 • I
Slide 9: CATV Business Performance
CATV Business Performance Key Highlights • Seeded 700K STBs in FY20; 150K during Q4 FY20 • Increase of 700K Paying Subscribers in FY20; 150K during Q4 FY20 10.20 Mn 8.00 Mn 7.50 Mn Seeded Active1 Paying STBs Subscribers Subscribers • Phase I, II, III & IV contributes 11%, 20%, 33% & 36% respectively
Slide 10: Business Expansion in FY20
Business Expansion in FY20 • Expansion in Mumbai • Ventured in Tamil Nadu Phase-I Market in Q2. (Chennai) market during Q3 • Added ~250K ▪ • GTPL Presence in 12 States subscribers across India Expansion in FY20 • Smooth Implementation of New Tariff Order (NTO) • First in MSO industry to offer versat
Slide 11: Broadband Performance
Broadband Performance Key Highlights • Active subscribers crossed 400K; increase of 80K in FY20; 30K in Q4 FY20 • 3.33 Mn Home Pass ; 65% Home Pass available for 405K 3.33 Mn 100K FTTX conversion Active Subscriber Home Pass #80K addition in #0.90 Mn addition FTTX Subscribers FY20 in FY20 • One of th
Slide 12: Launch of Customer Campaign
Launch of Customer Campaign ➢ Customer Offering - STB & 3 months subscription at combined rate. ➢ Launched in Q3 FY20 for new customer acquisition. ➢ Direct Reach to Public ➢ Used multimedia including Electronic (TV), News Print & Radio. ➢ Contact options – Call centre, Missed call alerts, GTPL Webs
Slide 13: Launch of Industry First Rewards Program – GTPL Pragati
Launch of Industry First Rewards Program – “GTPL Pragati • Launched in Q4 FY20 • Industry First, Rewards Program for Business Partners. • Business Partner categorization based on defined criteria • Emphasis on Subscriber Retention and Upsell • Performance based Incentive / Cashback. • Communication
Slide 14: Platform Services Owned & Operated by GTPL
Platform Services Owned & Operated by GTPL Launched 12 new channels in FY 19-20 including 10 advertisement-free services 13
Slide 15: Platform Services Owned & Operated by GTPL
Platform Services Owned & Operated by GTPL Offering 47 channels across 7 genres! 14
Slide 16: Key Inherent Strength of GTPL Hathway
Key Inherent Strength of GTPL Hathway Leadership Position in Located in Consumption High Quality Technology Trusted Partner Operating Markets Market and Infrastructure • #1 MSO in Gujarat, • Versatile Presence • 28,000+ LCOs as #2 in WB • State-of-the-Art Next in Regional Markets Business Partners G
Slide 17: Cutting Edge Technology and Infrastructure
Cutting Edge Technology and Infrastructure Advanced technology and equipment provided by leading technology vendors Technology Partners Headend: • 2 Main Headend & 4 support Headend for disaster Headend management. • Mother Headend & Network Operating Centre (NOC) in Gujarat, capable to cater across
Slide 18: Experienced Management Team with Strong Track Record
Experienced Management Team with Strong Track Record Anirudhsinhji Jadeja A zealous entrepreneur; started with cable operations in 90s and shaped GTPL in 2006; has many Promoter and MD accomplishments to his credit and has won numerous industry/social awards Anil Bothra CA,CS and CMA with 25 years o
Slide 19: Growth Opportunities
Growth Opportunities ➢ Successful implementation of New Tariff ➢ GigaHD Through Hybrid Box– Dual Service Order (NTO) across India has opened up Product : Broadband Services along with avenues for expansion in existing Cable services, as a single package markets & lifted entry barriers in with attrac
Slide 20: Key KPIs
| Key KPls
Slide 21: KEY KPIs: CATV Business: Annual: Consolidated
KEY KPIs : CATV Business : Annual : Consolidated* STBs Seeded (Mn) Active Subscribers (Mn) Paying Subscribers (Mn) NTO & Prepaid Conversion 7.901 8.001 Effect in Q4 FY19 10.20 7.50 9.50 7.40 7.00 6.80 8.70 5.98 6.90 4.93 4.68 5.42 3.40 FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18
Slide 22: KEY KPIs: CATV Business: Quarterly: Consolidated
KEY KPIs : CATV Business : Quarterly : Consolidated* STBs Seeded (Mn) Active Subscribers (Mn) 1 Paying Subscribers (Mn) 10.20 7.50 7.90 8.00 7.65 7.75 7.80 7.35 10.05 7.25 9.90 7.10 9.70 6.80 9.50 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q4 FY19 Q1 FY20 Q2 FY20
Slide 23: KEY KPIs: Broadband Business: Annual
KEY KPIs : Broadband Business : Annual Home Pass (Mn) Active Subscriber (‘000) ARPU (₹) (Net of Taxes) 3.33 405 480 480 455 413 422 325 2.42 280 240 170 1.30 1.08 0.84 FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 # 900K New Home Pass in FY20 #ACB Crossed 400K; increase
Slide 24: KEY KPIs: Broadband Business: Quarterly
KEY KPIs : Broadband Business : Quarterly Home Pass (Mn) Active Subscriber (‘000) ARPU (₹) (Net of Taxes) 3.33 405 3.16 420 422 413 415 415 375 2.92 355 2.66 340 325 2.42 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 Q4 FY19 Q1 FY20 Q2 FY20 Q3 FY20 Q4 FY20 # 170K Ne
Slide 25: Consolidated Financials
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Slide 26: Financial Highlights: Consolidated (Ex EPC)
Financial Highlights : Consolidated * (Ex EPC) Total Revenue up by 37% Annually; 8% Q-o-Q. 1 Revenue Subscription Revenue up by 41% Annually; 3% Q-o-Q. ISP Revenue up by 16% Annually; 9% Q-o-Q. 2 Expenses Finance cost down by 15% Annually. EBITDA of ₹ 4,564 Mn in FY20; ₹ 3,615 Mn in FY19. 3 EBITDA U
Slide 27: Consolidated Financial Performance Trends (Ex EPC)
Consolidated Financial Performance Trends* (Ex EPC) Revenue (In ₹ Mn) EBITDA (In ₹ Mn) 17,725 4,564 3,615 12,892 3,175 11,134 9,417 2,404 7,443 1,596 FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 Subscription Revenue (In ₹ Mn) Broadband Revenue (In ₹ Mn) 1,674 10,308 1,425 1,442 1,289 7,332 5,79
Slide 28: Financial Performance Trend: Consolidated (Ex EPC)
Financial Performance Trend: Consolidated* (Ex EPC) Total Revenue (In ₹ Mn) EBITDA (In ₹ Mn) 4,499 4,846 Quarterly 1,188 1,117 1,036 3,488 + 8% - 6% + 39% + 8% Q4 FY19 Q3 FY20 Q4 FY20 Q4 FY19 Q3 FY20 Q4 FY20 17,725 Annually 4,564 3,615 12,892 + 37% + 26% FY19 FY20 FY19 FY20 27 * FY = Apr- Mar, Q1 =A
Slide 29: Financial Performance Trend: Consolidated (Ex EPC)
Financial Performance Trend: Consolidated* (Ex EPC) Subscription Revenue (In ₹ Mn) ISP Revenue (In ₹ Mn) Quarterly 461 2,581 2,647 422 364 2,083 + 3% + 9% + 27% + 27% Q4 FY19 Q3 FY20 Q4 FY20 Q4 FY19 Q3 FY20 Q4 FY20 10,308 Annually 1,674 1,442 7,332 + 41% + 16% FY19 FY20 FY19 FY20 28 * FY = Apr- Mar,
Slide 30: EBITDA Bridge: Consolidated
EBITDA Bridge : Consolidated * (Ex EPC) In ₹ Mn 29 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3= Oct-Dec, Q4= Jan-Mar Note : Financial figures are excluding EPC contract
Slide 31: Profit & Loss Statement: Consolidated
Profit & Loss Statement : Consolidated * In ₹ Mn Note : Exceptional items provided in books amounting ₹ 680 Mn & ₹ 650 Mn during FY20 & FY19 respectively due to change in pricing mechanism between industry stakeholders in the value chain post implementation of New Tariff Order 30 * FY = Apr- Mar, Q1
Slide 32: Balance Sheet: Consolidated
Balance Sheet : Consolidated In ₹ Mn As on 31st As on 31st As on 31st As on 31st Liabilities Assets Mar 2020 March 2019 Mar 2020 March 2019 Equity Non-Current Assets Equity Share Capital 1,125 1,125 Fixed Assets 13,574 12,460 Other Equity 6,616 5,887 Financial Assets Total Equity 7,741 7,012 Investm
Slide 33: Financial Performance: Consolidated
Financial Performance : Consolidated Net Worth (In ₹ Mn) Gross Debt (In ₹ Mn) 5,499 7,283 6,577 6,648 4,660 3,279 3,452 3,872 3,378 2,158 FY16 FY17 FY18 FY19 FY20 FY16 FY17 FY18 FY19 FY20 Net Debt Trend (In ₹ Mn) Key Leverage Broadband RevenueMetrics Trend (₹ mn) 4,437 2.4 3,802 1.8 1.1 1.1 1,958 2,
Slide 34: Standalone Financials
Standalone Financials
Slide 35: Financial Highlights: Standalone (Ex EPC)
Financial Highlights : Standalone * (Ex EPC) Total Revenue up by 41% Annually. 1 Revenue Subscription Revenue up by 41% Annually; 1% Q-o-Q. 2 Expenses Finance cost down by 17% Annually. EBITDA of ₹ 2,942 Mn in FY20; ₹ 2,479 Mn in FY19. 3 EBITDA Up by ₹ 463 Mn (19%) Annually. EBITDA Margin stands at
Slide 36: Financial Performance: Standalone (Ex EPC)
Financial Performance : Standalone * (Ex EPC) Total Revenue (In ₹ Mn) EBITDA (In ₹ Mn) 3,197 3,139 Quarterly 796 788 2,304 635 - 2% - 19% + 36% - 20% Q4 FY19 Q3 FY20 Q4 FY20 Q4 FY19 Q3 FY20 Q4 FY20 11,893 Annually 2,942 2,479 8,428 + 41% + 19% FY19 FY20 FY19 FY20 35 * FY = Apr- Mar, Q1 =Apr-Jun, Q2=
Slide 37: Profit & Loss Statements: Standalone
Profit & Loss Statements : Standalone * In ₹ Mn Note : Exceptional items provided in books amounting ₹ 791 Mn & ₹ 550 Mn during FY20 & FY19 respectively due to change in pricing mechanism between industry stakeholders in the value chain post implementation of New Tariff Order. 36 * FY = Apr- Mar, Q1
Slide 38: Balance Sheet: Standalone
Balance Sheet : Standalone In ₹ Mn As on 31st As on 31st As on 31st As on 31st Liabilities Assets Mar 2020 March 2019 Mar 2020 March 2019 Equity Non-Current Assets Equity Share Capital 1,125 1,125 Fixed Assets 5,485 5,845 Other Equity 5,854 5,512 Financial Assets Total Equity 6,978 6,637 Investments
Slide 39: Investor Conference Call Details
Investor Conference Call Details 4Q and FY20 Earnings Conference Call GTPL Hathway Limited April 22, 2020 at 4:00 pm (IST) Ambit Capital is pleased to invite you to the 4Q and FY20 Results Conference Call of GTPL Hathway Limited. Represented by Mr. Anirudhsinh Jadeja - Promoter and MD Mr. Rajan Gupt
Slide 40: Safe Harbor
Safe Harbor The information contained in this presentation is only current as of its date. All actions and statements made herein or otherwise shall be subject to the applicable laws and regulations as amended from time to time. There is no representation that all information relating to the context
Slide 41: Thank You
Mr. Piyush Pankaj Head - CATV Business & Chief Strategy Officer Email: piyush.pankaj@gtpl.net IR Consultants Mr. Mehul Mehta Contact: +91 98202 80325 Mr. Hiral Keniya Contact: +91 90296 62801 Email: gtplhathway@dickensonworld.com THANK YOU