Gtpl Hathway Ltd · NSE:GTPL
Gtpl Hathway — FY2021 Earnings Presentation
45 slides from Gtpl Hathway's earnings presentation, Apr 16, 2021
Slide 1: Cover letter to stock exchanges
Ref. No.: GTPL/SE/2021 April 16, 2021 BSE Limited National Stock Exchange of India Limited Phiroze Jeejeebhoy Towers, Exchange Plaza, Dalal Street, Plot No. C/1, G Block, Mumbai 400 001 Bandra Kurla Complex, Bandra (East), Mumbai – 400051 Scrip Code: 540602 Trading Symbol: GTPL Dear Sir/Madam, Sub:
Slide 2: FY21 Annual & Q4 Results Update
FY21 Annual & Q4 GTPL Hathway Limited RESULTS UPDATE APRIL 2021
Slide 3: Discussion Summary
DISCUSSION SUMMARY 1 Company Overview & Strategy 3 - 20 2 Key KPIs 21 - 25 3 Consolidated Financials 26 - 35 4 Standalone Financials 36 - 41
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 Business in 2006 01 Footprints in 800+ towns across 15 States Rajasthan 02 reaching 10+ Mn Households Tripura #No.2* MSO in India, Gujarat West Bengal #No.1 MSO in Gujarat - 67% market share 03 #No.2 MSO in WB- 24% market share Maharashtra Telangana
Slide 6: Key Highlights
Key Highlights Consistent Subscriber Base Growth Performance • ~2.2x growth in last 5 years • ~24% CAGR growth in • PAT Positive for last for CATV . Revenue in last 5 years Consecutive 5 years. • ~3.7x growth in last 5 years • ~28% CAGR growth in • “IND A+/Stable” Rating for Broadband. EBITDA in las
Slide 7: Highlights of FY21
Highlights of FY21 Net Debt Free Total Revenue of ₹ 25 Billion Expansion in North East Tripura, Meghalaya & Manipur Broadband Subscribers FY21 Increased 1.5x Y-o-Y Association with “Mr. Boman Irani” as Brand Ambassador 6 * FY = Apr-Mar
Slide 8: Brand Ambassador and Campaign Launch
Brand Ambassador and Campaign Launch First ever Brand Ambassador Mr. Boman Irani Theme Song “Connection Dil Se” by Sachin-Jigar 4 TVCs launched; Campaign across Satellite Channels, Multi-Media and Social Networks 7
Slide 9: Financial Performance: Consolidated
Financial Performance : Consolidated* Key Financial Highlights (in ₹ Mn) FY21 FY20 Incl. Excl. Incl. Excl. EPC EPC EPC. EPC. REVENUE 25,300 21,484 24,247 17,725 EBITDA 5,724 5,455 5,022 4,561 PAT 1,885 770# # Exceptional Items (Provision for Doubtful Debts) of ₹ 680 Mn for FY20 ✓ ISP Revenue of ₹ 2,
Slide 10: CATV Business Performance
CATV Business Performance Key Highlights • 100K increase in Active Subscribers Q-o-Q 1 • Expansion in Tripura, Meghalaya & Manipur states in FY21; GTPL Footprints in 15 States 8.00 Mn 7.50 Mn Active1 Subscribers Paying Subscribers • Expanding aggressively in Andhra Pradesh, Maharashtra, Telangana an
Slide 11: Broadband Performance
Broadband Performance Key Highlights • 1.5x increase in ACB in FY21 Active Subscribers at 635K as of FY21 635K 3.87 Mn 200K Active Subscribers Home-Pass • 5.5% increase in ARPU during FY21 #230K addition in #540K addition in FTTX Subscribers FY21 FY21 • 3.87 Mn Home Pass; 65% Home Pass available for
Slide 12: Platform Services Owned & Operated by GTPL
Platform Services Owned & Operated by GTPL 49 Channels across 6+ Genres Movies 17 General Entertainment 07 Music 06 Kids 03 Religious/ Devotional 08 Others 08 11
Slide 13: 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 • #2 MSO in India, • State-of-the-Art Next • Versatile Presence • 28,500+ LCOs as Generation Video #1 in Gujarat, Business Partners
Slide 14: 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 15: 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 26 years o
Slide 16: Industry at a Glance
Industry at a Glance Cable & Broadband Cable Broadcasters DPOs Local Cable Operators Consumers Pay : 20+ MSOs/ISOs: 1500+ (LCOs) (60,000+) FTA : 200+ Others : 11 (171 Mn) Cable Transmission of Signals MSOs also provide Broadband Services to their consumers directly Flow of Monies 310 Mn Households i
Slide 17: Industry at a Glance
Industry at a Glance 1 TV Industry Revenues in ₹ Bn 2 TV Households in Mn Advertisement Subscription Free Pay 778 714 516 197 195 652 463 183 176 596 171 171 428 552 393 480 368 330 145 161 152 133 131 150 251 262 224 203 184 150 50 36 38 40 26 31 FY15 FY16 FY17 FY18 FY19 FY20 2016 2017 2018 2019 #
Slide 18: Growth Opportunities: Wireline Broadband
Growth Opportunities : Wireline Broadband Wireline Broadband % Penetration of Total HHs# Around the Globe Japan - 80% Eurozone - 70% China - 55% • Gigantic Growth Gear for Wireline broadband with meagre 6% Homes on ~310 Millions Homes in India. • Propel of High-Speed Unlimited data packages increase
Slide 19: Broadband Performance: Industry Vs GTPL
Broadband Performance : Industry Vs GTPL 1Wired Broadband GTPL Broadband Subscribers in Industry Active Subscribers (Nos in Millions) (Nos in Millions) 0.54 21.12 19.01 19.18 0.41 0.36 + 10% + 32% + 11% + 51% Q2 FY20 Q4 FY20 Q2 FY21 Q2 FY20 Q4 FY20 Q2 FY21 Source : 18 1. Performance Indicators Repor
Slide 20: Growth Opportunities
Growth Opportunities • Provide CATV services as a bundle • Expand GTPL Footprints in Existing Expansion ❖ With Broadband & OTT services Markets. Hybrid • Tie-up with different service providers • Venture into New Markets through • Up-sell current customers & add new acquisitions and consolidations.
Slide 21: Business Agnostic to COVID-19 Restrictions
Business Agnostic to COVID-19 Restrictions • Restrictions at National & State Level • E-Learning & Work-from-Home COVID- • Economic Slowdown • Rise in Content consumption • Digital Payments & 19 • Impact across Industries Consumption • Combined offering of Entertainment, Data & CATV Commerce New • I
Slide 22: Key KPIs
| Key KPls
Slide 23: KEY KPIs: CATV Business: Annual
KEY KPIs : CATV Business : Annual : Consolidated* Active Subscribers (Mn) 1 Paying Subscribers (Mn) 7.90 8.00 8.00 7.50 7.50 7.40 7.00 6.80 5.98 4.93 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 # Remained Constant Y-o-Y # Maintained Subscriber base 22 * FY = Apr-Mar 1 Active = Active during la
Slide 24: KEY KPIs: CATV Business: Quarterly
KEY KPIs : CATV Business : Quarterly : Consolidated* Active Subscribers (Mn)1 Paying Subscribers (Mn) 8.00 7.85 7.90 8.00 7.75 7.50 7.50 7.20 7.30 7.35 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 # Increased by 100K Q-o-Q # Increased by 150K Q-o-Q 23 * FY = Apr-Ma
Slide 25: KEY KPIs: Broadband Business: Annual
KEY KPIs : Broadband Business : Annual* Home-pass (Mn) Active Subscribers (‘000) ARPU (₹) (Net of Taxes) 635 3.87 480 480 3.33 445 422 413 405 2.42 325 280 240 1.30 1.08 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 # 540K New Home-Pass in FY21 #ACB increased by 1.5x in
Slide 26: KEY KPIs: Broadband Business: Quarterly
KEY KPIs : Broadband Business : Quarterly* Home-pass (Mn) Active Subscribers (‘000) ARPU (₹) (Net of Taxes) 635 445 445 3.87 3.80 430 3.72 590 422 422 3.51 535 3.33 455 405 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 # 70K N
Slide 27: Consolidated Financials
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Slide 28: Financial Highlights: Consolidated
Financial Highlights : Consolidated * (Ex EPC) Total Revenue up by 21% Y-o-Y; 7% Q-o-Q 1 Revenue Subscription Revenue up by 4% Y-o-Y ISP Revenue up by 67% Y-o-Y; 5% Q-o-Q 2 Expenses Finance cost down by 49% Y-o-Y; 12% Q-o-Q EBITDA of ₹ 5,455 Mn in FY21; ₹ 1,423 Mn in Q4 FY21 3 EBITDA Up by ₹ 895 Mn
Slide 29: Strong Revenue & EBITDA Growth
Strong Revenue & EBITDA Growth (Ex EPC) Revenue (In ₹ Mn) Subscription Revenue (In ₹ Mn) Broadband Revenue (In ₹ Mn) 21,484 10,308 10,712 2,792 17,725 7,332 12,892 1,674 11,134 5,799 1,425 1,442 9,417 4,494 1,289 7,443 3,378 730 FY16 FY17 FY18 FY19 FY20 FY21 FY16 FY17 FY18 FY19 FY20 FY21 FY16 FY17 F
Slide 30: Financial Performance Trend: Consolidated
Financial Performance Trend: Consolidated* (Ex EPC) Total Revenue (In ₹ Mn) EBITDA (In ₹ Mn) 1,430 1,423 5,623 5,991 Quarterly 1,117 4,644 + 7% 0% + 29% + 27% Q4 FY20 Q3 FY21 Q4 FY21 Q4 FY20 Q3 FY21 Q4 FY21 21,484 Annually 5,455 17,725 4,561 + 21% + 20% FY20 FY21 FY20 FY21 29 * FY = Apr-Mar, Q1 = Ap
Slide 31: Financial Performance Trend: Consolidated
Financial Performance Trend: Consolidated* Subscription Revenue (In ₹ Mn) ISP Revenue (In ₹ Mn) 817 2,647 2,718 2,665 Quarterly 778 461 + 5% - 2% + 1% + 77% Q4 FY20 Q3 FY21 Q4 FY21 Q4 FY20 Q3 FY21 Q4 FY21 10,308 10,712 Annually 2,792 1,674 + 4% + 67% FY20 FY21 FY20 FY21 30 * FY = Apr-Mar, Q1 = Apr-J
Slide 32: Profit & Loss Statement: Consolidated: Annual
Profit & Loss Statement : Consolidated* : Annual In ₹ Mn Note : Exceptional items provided in books amounting ₹ 680 Mn during Q4 FY20 due to change in pricing mechanism between industry stakeholders in the value chain post implementation of New Tariff Order . 31 * FY = Apr-Mar, Q1 = Apr-Jun, Q2 = Ju
Slide 33: Profit & Loss Statement: Consolidated: Q-o-Q
Profit & Loss Statement : Consolidated* : Q-o-Q In ₹ Mn Note : Exceptional items provided in books amounting ₹ 680 Mn during Q4 FY20 due to change in pricing mechanism between industry stakeholders in the value chain post implementation of New Tariff Order . 32 * FY = Apr-Mar, Q1 = Apr-Jun, Q2 = Jul
Slide 34: Balance Sheet: Consolidated
Balance Sheet : Consolidated In ₹ Mn As on 31st As on 31st As on 31st As on 31st Liabilities Assets Mar 2021 Mar 2020 Mar 2021 Mar 2020 Equity Non-Current Assets Equity Share Capital 1,125 1,125 Fixed Assets 14,642 13,574 Other Equity 8,401 6,616 Financial Assets Total Equity 9,526 7,741 Investments
Slide 35: Financial Performance: Consolidated
Financial Performance : Consolidated* Net Worth (In ₹ Mn) Gross Debt (In ₹ Mn) Net Debt (In ₹ Mn) 5,499 8,800 4,437 Net 7,283 Debt-free 6,577 6,648 3,452 3,279 1,958 2,064 3,872 2,158 1,279 1,465 (106) FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 34 * FY = Apr-Mar
Slide 36: Financial Performance: Consolidated
Financial Performance : Consolidated Return on Capital Employed Return on Equity (ROE In %) Key Leverage Metrics (In Times) ROCE (In %) 34% 35% 21% 1.8 19% 19% # 11% 1.1 16% 10% 9% 0.6 0.6 # 3% 0.3 0.3 0.3 0.2 -0.01 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 FY17 FY18 FY19 FY20 FY21 ROCE =(EB
Slide 37: Standalone Financials
Standalone Financials
Slide 38: Financial Highlights: Standalone
Financial Highlights : Standalone * (Ex EPC) Total Revenue up by 18% Y-o-Y; 8% Q-o-Q 1 Revenue Subscription Revenue up by 5% Y-o-Y 2 Expenses Finance cost down by 51% Y-o-Y; 9% Q-o-Q EBITDA of ₹ 3,292 Mn in FY21; ₹ 881 Mn in Q4 FY21 3 EBITDA Up by ₹ 317 Mn (11%) Y-o-Y EBITDA Margin stands at 23.1% i
Slide 39: Financial Performance Trend: Standalone
Financial Performance Trend: Standalone* (Ex EPC) Total Revenue (In ₹ Mn) EBITDA (In ₹ Mn) 3,634 3,927 Quarterly 881 785 3,199 686 + 8% + 12% + 23% + 28% Q4 FY20 Q3 FY21 Q4 FY21 Q4 FY20 Q3 FY21 Q4 FY21 14,229 Annually 3,292 2,975 12,061 + 18% + 11% FY20 FY21 FY20 FY21 38 * FY = Apr-Mar, Q1 = Apr-Jun
Slide 40: Profit & Loss Statement: Standalone: Annual
Profit & Loss Statement : Standalone* : Annual In ₹ Mn Note : Exceptional items provided in books amounting ₹ 791 Mn during Q4 FY20 due to change in pricing mechanism between industry stakeholders in the value chain post implementation of New Tariff Order. 39 * FY = Apr-Mar, Q1 = Apr-Jun, Q2 = Jul-S
Slide 41: Profit & Loss Statement: Standalone: Q-o-Q
In ₹ Mn Profit & Loss Statement : Standalone* : Q-o-Q Note : Exceptional items provided in books amounting ₹ 791 Mn during Q4 FY20 due to change in pricing mechanism between industry stakeholders in the value chain post implementation of New Tariff Order. 40 * FY = Apr-Mar, Q1 = Apr-Jun, Q2 = Jul-Se
Slide 42: Balance Sheet: Standalone
Balance Sheet : Standalone In ₹ Mn As on 31st As on 31st As on 31st As on 31st Liabilities Assets Mar 2021 Mar 2020 Mar 2021 Mar 2020 Equity Non-Current Assets Equity Share Capital 1,125 1,125 Fixed Assets 6,468 6,514 Other Equity 6,400 5,410 Financial Assets Total Equity 7,525 6,535 Investments 1,6
Slide 43: Investor Conference Call Details
Investor Conference Call Details 42
Slide 44: 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 45: Thank You
Mr. Piyush Pankaj Business Head - CATV & 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