Gmr Power And Urban Infra Ltd · NSE:GMRP&UI
Gmr Power And Urban Infra — Q4 FY2024 Earnings Presentation
38 slides from Gmr Power And Urban Infra's earnings presentation, May 18, 2024
Slide 1: Investor Presentation cover letter to stock exchanges
May 18, 2024 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
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 Highlights 5–6 Financial Performance 7 – 10 - Energy Business 11 – 15 - Transportation and Urban Infrastructure Business 16 – 21 Strategy and Way Forward 22 – 25 ESG Practices 26 – 27 Annexures 30 – 36 Humility | Entrepreneurship | Team
Slide 5: Snapshot of Businesses
Snapshot of Businesses Energy Highways & EPC Urban Infra ➢ 2 Coal Plants → ➢Solar → ➢2 Annuity Projects → Special Investment Operational 26 MW 133 kms Region (SIR) 1,650 MW ➢2 Toll Projects → ➢2 Wind Plants → ➢~865 acres in Tamil Under-development 3.4 MW 216 kms Nadu → 350 MW Land at strategic ➢Rail
Slide 6: Corporate Structure
Corporate Structure GMR Power and Urban Infra Ltd. (GPUIL) 99.08%* 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
Slide 7: Key Business Highlights
Key Business Highlights ❖ In Nov’23 GPUIL acquired 29.14% of the equity share capital of GMR Energy Limited (GEL), a subsidiary of GPUIL, from Power and Energy International (Mauritius) Limited, a subsidiary of Tenaga Nasional Berhad, for a negotiated consideration of USD 28.50 mn ✓ The acquisition
Slide 8: Key Business Highlights - Energy 2.0 Strategy
Key Business Highlights 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 i
Slide 9: Performance Highlights
Performance Highlights Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 10: GPUIL Performance Highlights – Q4FY24
GPUIL Performance Highlights – Q4FY24 Consolidated Financials1 ❖ Total Income ▲46% QoQ; ▲11% YoY to INR 17.7 bn ✓ Growth mainly driven by consolidation of GEL entities ❖ EBITDA ▲42% QoQ;▲~1.5x YoY to INR 5.7 bn with EBITDA margins at 33% (margins up by 18% YoY) ✓ Increase in EBITDA driven by consoli
Slide 11: GPUIL Operational Performance Highlights
GPUIL Operational Performance Highlights Operational Performance Q4FY24 FY24 ✓ Warora: 80% vs 91% YoY ✓ Warora: 83% vs 82% YoY Energy – PLF ✓ Kamalanga: 85% vs 89% YoY ✓ Kamalanga: 82% vs 77% YoY ✓ Bajoli Holi: 13% vs 5% YoY ✓ Bajoli Holi: 45% vs 34% YoY ✓ Hyderabad - Vijaywada:▲4.7% YoY ✓ Hyderabad
Slide 12: GPUIL Consolidated Debt
GPUIL Consolidated Debt Net Debt (Sector-wise)^ Gross & Net Debt (in INR bn) ^ (in INR bn, %age of total) Energy, Corporate, 61, 59% 26, 25% 12 Highways, Others, SEZ, 14, 13% 1, 1% 2, 2% Note : ^ As on 31 Mar’24 1. FCCB not considered in debt; 2. Energy segment debt includes debt in GEL which is ful
Slide 13: Energy Business
Energy Business Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 14: Key Developments – Warora Power Project
Key Developments – Energy Business Warora Power Project Q4FY24 FY24 ❖ Total Income – ▲5% YoY to INR 5.1 bn ❖ Total Income – ▲12% YoY to INR 19.1 bn ✓ Primarily due to realization of improved average tariff ✓ Primarily due to realization of improved average tariff in Q4FY24 compared with the correspo
Slide 15: Key Developments – Kamalanga Power Project
Key Developments – Energy Business Kamalanga Power Project Q4FY24 FY24 ❖ Total Income ▼10% YoY to INR 7.3 bn ❖ Total Income ▼7% YoY to INR 29.5 bn ✓ Decline due to lesser variable tariff (decrease in ✓ Decline due to lesser variable tariff (decrease in alternate coal costs) and lower PLF (due to pla
Slide 16: Key Developments – Bajoli Holi Hydro Power Project
Key Developments – Energy Business Bajoli Holi Hydro Power Project Q4FY24 FY24 ❖ Total Income ▲7.5x YoY to INR 550 mn ❖ Total Income ▲57% YoY to INR 4.3 bn ✓ PLF at 13% vs. 18% in Q3FY24 and 5% in Q4FY23 ✓ PLF at 45% vs. 34% in FY23 (driven by seasonality) ❖ EBITDA ▲80% YoY to INR 3.2 bn ❖ EBITDA at
Slide 17: Key Energy Assets - Operational & Financial Highlights
Key Energy Assets - Operational & Financial Highlights YoY (figures in INR mn) Warora Kamalanga Solar Bajoli Holi Particulars Q4FY2023 Q4FY2024 Q4FY2023 Q4FY2024 Q4FY2023 Q4FY2024 Q4FY2023 Q4FY2024 Total Income 4,883 5,132 8,180 7,339 160 120 65 550 EBITDA 1,146 1,784 3,080 3,039 140 90 (236) 375 In
Slide 18: 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 19: Key Developments – Highway Business
Key Developments – Highway Business Hyderabad Vijayawada Project ❖ Average Daily Traffic – Q4FY24: ▲5.8% QoQ and ▲4.7% YoY ❖ Sole Arbitrator has released report on the claim quantification under Change-in-Law and quantified gross claim of INR 16.72 bn till FY20 and established principles for future
Slide 20: Key Developments – Highway Business
Key Developments – Highway Business Chennai ORR Project ❖ Received arbitration award of INR 5.1 bn ❖ Received INR 550 mn from GOTN towards full & final settlement of all the pending litigations & disputes as on date Pochanpalli Project (GPEL) ❖ Delhi High Court upheld the Company’s interpretation on
Slide 21: Highway Business Assets Performance
Highway Business Assets Performance (figures in INR mn) Hyderabad - Vijayawada Ambala - Chandigarh GPEL Chennai ORR Particulars Q4FY2023 Q4FY2024 Q4FY2023 Q4FY2024 Q4FY2023 Q4FY2024 Q4FY2023 Q4FY2024 Total Income 1,166 1,278 185 214 781 408 186 190 EBITDA 521 575 111 113 487 162 111 122 Interest 703
Slide 22: Urban Infrastructure – Potential to Unlock Value
Urban Infrastructure – Potential to Unlock Value Krishnagiri Special Investment Region: ~865 Acres ❖ ~318 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 23: EPC in Dedicated Freight Corridor Projects
EPC in Dedicated Freight Corridor Projects DFCC’s Project Network Kanpur GMR’s stretch of work Mughalsarai 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 km ❖ Dedicated Freight Corridor is INR 820 bn project Co
Slide 24: 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 25: 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 26: 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 27: 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: ✓ ~318 acres under sale to agency of Tamil Nadu Govt. in FY25 ✓
Slide 28: ESG Practices
ESG Practices Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 29: ESG – Remain focussed on our sustainability journey
ESG – Remain focussed on our sustainabilty journey Environment Social Social ❖ GKEL, GWEL and Bajoli Holi are ISO 14001 certified Environmental CSR Spend (Q4 FY24) - INR 18.27 mn Management System Total beneficiaries - Over 1,00,000 ❖ Both GKEL and GWEL is certified for Energy Management System as p
Slide 30: 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 31: Annexures
Annexures Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 32: 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 33: Annexure A : GPUIL (Consolidated)
Annexure A : GPUIL (Consolidated) INR mn Particulars Q4FY2023 Q3FY2024 Q4FY2024 FY2023 FY2024 Revenue 14,234 11,028 16,345 55,157 44,890 Other Income 1,655 1,064 1,347 3,626 3,457 Total Income 15,889 12,092 17,692 58,784 48,347 Less: Revenue Share 496 529 552 1,915 2,120 Net Income 15,393 11,563 17,
Slide 34: Annexure B : Energy Business (Consolidated)
Annexure B : Energy Business (Consolidated) INR mn Particulars Q4FY2023 Q3FY2024 Q4FY2024 FY2023 FY2024 Revenue 9,692 7,976 13,727 34,732 31,765 Other Income 578 715 980 706 2,050 Total Income 10,270 8,691 14,707 35,438 33,815 Operating Expenditure 9,837 6,132 9,802 35,490 25,902 EBITDA 433 2,559 4,
Slide 35: Annexure C : Warora (Standalone) Power Plant
Annexure C : Warora (Standalone) Power Plant INR mn Particulars Q4FY2023 Q3FY2024 Q4FY2024 FY2023 FY2024 Revenue 4,773 5,223 5,045 16,345 18,327 Other Income 109 95 87 635 753 Total Income 4,883 5,318 5,132 16,981 19,079 Fuel - Consumption 3,125 3,060 2,773 10,162 11,279 Other Expenses 611 568 575 1
Slide 36: Annexure D : Kamalanga (Standalone) Power Plant
Annexure D : Kamalanga (Standalone) Power Plant INR mn Particulars Q4FY2023 Q3FY2024 Q4FY2024 FY2023 FY2024 Revenue 7,463 7,115 6,774 30,221 27,519 Other Income 717 397 566 1,713 2,027 Total Income 8,180 7,512 7,339 31,934 29,546 Fuel - Consumption 4,084 3,630 3,302 16,806 14,023 Other Expenses 1,01
Slide 37: Annexure E : Bajoli Holi (Standalone) Power Plant
Annexure E : Bajoli Holi (Standalone) Power Plant INR mn Particulars Q4FY2023 Q3FY2024 Q4FY2024 FY2023 FY2024 Revenue 63 482 400 2,716 4,149 Other Income 1 3 150 41 175 Total Income 65 486 550 2,756 4,324 Other Expenses 301 311 175 1,000 1,171 EBITDA (236) 174 375 1,756 3,153 EBITDA Margin -365% 36%
Slide 38: Annexure F : Highway Business (Consolidated)
Annexure F : Highway Business (Consolidated) INR mn Particulars Q4FY2023 Q3FY2024 Q4FY2024 FY2023 FY2024 Revenue 1,760 1,785 1,949 6,550 7,173 Other Income 503 37 61 801 221 Total Income 2,263 1,822 2,010 7,351 7,393 Less: Revenue Share 496 529 552 1,915 2,120 Net Income 1,767 1,293 1,458 5,436 5,27
GMR Power and Urban Infra — Q4 FY2024 Earnings Presentation on 6ix