Gmr Power And Urban Infra Ltd · NSE:GMRP&UI
Gmr Power And Urban Infra — Q3 FY2024 Earnings Presentation
38 slides from Gmr Power And Urban Infra's earnings presentation, Feb 7, 2024
Slide 1: Investor Presentation filing letter to exchanges
February 07, 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
Slide 2: GMR Group 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 Economic Operational 26 MW 133 kms Zone (SEZ) 1,650 MW 2 Toll Projects 2 Wind Plants ~906 acres in Tamil Under-development 3.4 MW 216 kms Nadu 350 MW Land at strategic Railways
Slide 6: Corporate Structure
Corporate Structure GMR Power and Urban Infra Ltd. (GPUIL) 86.90%* 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 GPUIL has acquired 1,051.15 mn equity shares of GMR Energy Limited (GEL), a subsidiary of GPUIL (representing 29.14% of the equity share capital of GEL), from Power and Energy International (Mauritius) Limited, a subsidiary of Tenaga Nasional Berhad, for a negotiated consid
Slide 8: FY22 – Key Business Highlights
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 – Q3FY24
GPUIL Performance Highlights – Q3FY24 Consolidated Financials1 Total Income ▲78% QoQ;▼19% YoY to INR 12.1 bn QoQ mainly driven by consolidation of GEL entities and increase in electrical energy revenues (i.e. GETL); YoY fall mainly driven by decrease in International Coal trading revenue & dec
Slide 11: GPUIL Operational Performance Highlights
GPUIL Operational Performance Highlights Operational Performance Q3FY24 9MFY24 Warora: 86% vs 89% YoY Warora: 84% vs 79% YoY Energy – PLF Kamalanga: 85% vs 75% YoY Kamalanga: 81% vs 73% YoY Bajoli Holi: 15% vs 18% YoY Bajoli Holi: 42% vs 44% YoY Hyderabad - Vijaywada:▲5.9% YoY Hydera
Slide 12: GPUIL Consolidated Debt
GPUIL Consolidated Debt Net Debt (Sector-wise)^ Gross & Net Debt (in INR bn) ^ (in INR bn, %age of total) 127 16 110 Corporate, Energy, 64 , 58% 27 , 24% Highways, 15 , 14% Gross Debt Cash & equivalents Net Debt Others, SEZ, 1 , 1% 3 , 3% Energy Corporate Highways SEZ Others Note : ^ As on December
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 in Q3FY24 – Warora Power Project
Key Developments in Q3FY24 – Energy Business Warora Power Project Total Income – Q3FY24: ▲16% YoY to INR 5.3 bn - Primarily due to realization of improved average tariff in Q3FY24 compared with the corresponding period PLF at 86% vs. 75% in Q2FY24 and 89% in Q3FY23 EBITDA ▲17% YoY to INR 1.7 b
Slide 15: Key Developments in Q3FY24 – Kamalanga Power Project
Key Developments in Q3FY24 – Energy Business Kamalanga Power Project Total Income – Q3FY24: ▼9% YoY to INR 7.5 bn Decline mainly due to lesser variable tariff (decrease in alternate coal costs); impact also mitigated by higher PLF level YoY in Q3FY24 PLF at 85% vs. 76% in Q2FY24 and 75% in Q3F
Slide 16: Key Developments in Q3FY24 – Bajoli Holi Hydro Power Project
Key Developments in Q3FY24 – Energy Business Bajoli Holi Hydro Power Project Total Income – Q3FY24: ▲69% YoY to INR 486 mn PLF at 15% vs. 84% in Q2FY24 and 18% in Q3FY23 (witnessed lower generation in Q3FY24 considering seasonal factors) EBITDA ▲18% YoY to INR 174 mn EBITDA margins at 36%
Slide 17: Key Energy Assets - Operational & Financial Highlights YoY
Key Energy Assets - Operational & Financial Highlights YoY (figures in INR mn) Warora Kamalanga Solar Bajoli Holi Particulars Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Total Income 4,580 5,318 8,278 7,512 150 130 288 486 EBITDA 1,450 1,690 2,384 2,762 130 110 148 174 Interest 644 614 1
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 in Q3FY24 – Highway Business
Key Developments in Q3FY24 – Highway Business Hyderabad Vijayawada Project Average Daily Traffic – Q3FY24: ▲4.5% QoQ and ▲5.9% YoY Sole Arbitrator has released report on the claim quantification under Change-in-Law and quantified gross claim of INR 16.72 bn till FY 2020 and established principle
Slide 20: Key Developments in Q3FY24 – Highway Business
Key Developments in Q3FY24 – 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 (HC) upheld the Company’s in
Slide 21: Highway Business Assets Performance YoY
Highway Business Assets Performance YoY (figures in INR mn) Hyderabad-Vijaywada Ambala - Chandigarh GPEL Chennai ORR Particulars Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Q3FY23 Q3FY24 Total Income 1,125 1,222 186 219 203 283 194 189 EBITDA 551 562 131 123 149 157 135 114 Interest 714 736 126 81 130
Slide 22: Urban Infrastructure – Potential to Unlock Value
Urban Infrastructure – Potential to Unlock Value Krishnagiri Special Investment Region: ~906 Acres ~360 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 a Top Tier tech enabled 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: To Operationalise the Strategy We Envision to Follow 5 Overarching Principles
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 the Attractive 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: ~360 acres under sale to agency of Tamil Nadu Govt. in FY24
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 sustainabilty journey
ESG – Remain focussed on our sustainabilty journey Environment Social GKEL, GWEL and Bajoli Holi are ISO 14001 certified Environmental CSR Spend (Q3FY24) - INR 6.88 mn Management System Total beneficiaries - Over 30,000 GKEL and GWEL have ISO 50001 in place CSR activities implemented in areas
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 Q3FY23 Q2FY24 Q3FY24 9MFY23 9MFY24 Revenue 14,430 6,275 11,028 40,924 28,545 Other Income 561 511 1,064 1,971 2,238 Total Income 14,991 6,786 12,092 42,894 30,783 Less: Revenue Share 477 505 529 1,419 1,568 Net Income 14,514 6,281 11,563 41,475 29,215 Total E
Slide 34: Annexure B : Energy Business (Consolidated)
Annexure B : Energy Business (Consolidated) INR mn Q3FY23 Q2FY24 Q3FY24 9MFY23 9MFY24 Revenue 10,331 2,787 7,976 25,040 18,037 Other Income 26 82 715 128 1,070 Total Income 10,357 2,869 8,691 25,168 19,108 Operating Expenditure 10,278 2,839 6,132 25,653 16,100 EBITDA 79 30 2,559 (485) 3,008 EBITDA m
Slide 35: Annexure C : Warora (Standalone) Power Plant
Annexure C : Warora (Standalone) Power Plant INR mn Particulars Q3FY23 Q2FY24 Q3FY24 9MFY23 9MFY24 Revenue 4,313 3,910 5,223 11,572 13,282 Other Income 267 139 95 526 666 Total Income 4,580 4,049 5,318 12,098 13,948 Fuel - Consumption 2,694 2,724 3,060 7,037 8,506 Other Expenses 437 468 568 1,338 1,
Slide 36: Annexure D : Kamalanga (Standalone) Power Plant
Annexure D : Kamalanga (Standalone) Power Plant INR mn Particulars Q3FY23 Q2FY24 Q3FY24 9MFY23 9MFY24 Revenue 8,090 6,561 7,115 22,758 20,745 Other Income 188 310 397 996 1,461 Total Income 8,278 6,871 7,512 23,754 22,206 Fuel - Consumption 4,696 3,464 3,630 12,722 10,720 Other Expenses 1,198 1,031
Slide 37: Annexure E : Bajoli Holi (Standalone) Power Plant
Annexure E : Bajoli Holi (Standalone) Power Plant INR mn Particulars Q3FY23 Q2FY24 Q3FY24 9MFY23 9MFY24 Revenue 282 1,913 482 2,652 3,748 Other Income 6 15 3 39 25 Total Income 288 1,929 486 2,692 3,773 Other Expenses 140 315 311 700 996 EBITDA 148 1,614 174 1,992 2,778 EBITDA margin 52% 84% 36% 75%
Slide 38: Annexure F : Highway Business (Consolidated)
Annexure F : Highway Business (Consolidated) INR mn Q3FY23 Q2FY24 Q3FY24 9MFY23 9MFY24 Revenue 1,604 1,716 1,785 4,790 5,224 Other Income 24 35 37 298 160 Total Income 1,629 1,750 1,822 5,088 5,383 Less: Revenue Share 477 505 529 1,419 1,568 Net Income 1,152 1,246 1,293 3,669 3,816 Operating Expense
GMR Power and Urban Infra — Q3 FY2024 Earnings Presentation on 6ix