Gtpl Hathway Ltd · NSE:GTPL
Gtpl Hathway — Q4 FY2019 Earnings Presentation
37 slides from Gtpl Hathway's earnings presentation, Apr 12, 2019
Slide 1: Cover letter to stock exchanges: Investor Presentation
GTPL Hathway Limited (Former Name: GTPL Hathway Private 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/2019 April 12, 2019 De
Slide 2: FY19 Q4 & Annual Results Update
FY19 Q4 & ANNUAL GTPL Hathway Limited RESULTS UPDATE APRIL 2019
Slide 3: Discussion Summary
DISCUSSION SUMMARY 1 Company Overview & Strategy 3 - 10 2 Key KPIs 11 - 17 3 Consolidated Financials 18 - 27 4 Standalone Financials 28 - 33
Slide 4: Company Overview & Strategy
Company Overview & Strategy
Slide 5: Leader across Key Cable Markets in India
Leader across Key Cable Markets in India -No 1 in CATV - 67% Present in 500+ towns KEY HIGHLIGHTS (as of 31-Mar-19) market share across 10 states - 4.4 mn STB Seeded -Significant Set-Top Boxes Seeded 9.50 mn Private Wired- Active Paying Subscribers 6.80 mn Broadband Provider Home Pass 2.42 mn Active
Slide 6: Key Inherent Strength of GTPL Hathway
Key Inherent Strength of GTPL Hathway • #1 MSO in Gujarat, #2 in WB Leadership Position in Operating 1 • Significant Presence in Rest of Maharashtra; Seeded 1.3 mn STBs Markets • 2.42 mn Broadband Home Pass, mainly in Gujarat • 90% CATV Subscribers in Hindi Speaking Market 2 Located in Consumption M
Slide 7: Cutting Edge Technology and Infrastructure
Cutting Edge Technology and Infrastructure Advanced technology and equipment provided by leading technology vendors Well positioned to expand reach into different geographies Optic Fibre Cable Network GPON Technology Mother Headend Gujarat Mother Headend& Network Operating Centre Main Headend capabl
Slide 8: Experienced Management Team with Strong Track Record
Experienced Management Team with Strong Track Record Aniruddhasinhji 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 Viren Thakkar CA and ICWA with 28 years
Slide 9: Growth Opportunities
Growth Opportunities With New Tariff Order (NTO) being successfully implemented across India, entry barriers in untapped markets & expansion in existing markets have opened. Increase footprints in existing market through expansion and venture into new markets through acquisitions and consolidati
Slide 10: Growth Opportunities
Growth Opportunities Bagged Work Order for ₹ 1,246 Crores for implementation of BharatNet Phase II project in Gujarat (Package B, Saurashtra), under Gujarat Fibre Grid Network Limited (GFGNL) Polycab Wires Pvt. Ltd. as Consortium Partner EPC (Engineering, Procurement & Construction) based Proj
Slide 11: New Tariff Order
New Tariff Order TRAI Successfully implemented New Tariff Order (NTO) across India and migrated Regulations all subscribers to New Packages. GTPL Recommended package offered Consumer First in MSO industry to offer versatile language-wise regional packages Choice True A-La-Carte : Subscriber
Slide 12: Key KPIs
| Key KPls
Slide 13: Performance KPIs
Performance KPIs Seeded 800K STBs during FY 2019 Gross Debt stands at ₹ 3,452 as on 31-Mar-19 against ₹ 3,560 mn as at 31-Dec-18 Net Debt stands at ₹ 2,064 mn as at 31-Mar-19 against ₹ 2,553 mn as at 31-Dec-18 Added 1.1 mn new Home Pass during FY19; 270K during Q4 Increased 45K net subscribers durin
Slide 14: Key KPIs: CATV Business: Annual (Consolidated)
KEY KPIs : CATV Business : Annual (Consolidated)* STBs Seeded (mn) Active Paying Subs (mn) NTO & Auto-dunning 9.50 Effect in Q4 8.70 7.00 6.80 6.90 4.93 5.42 3.40 3.40 3.35 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 13 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3=Oct-Dec, Q4=Jan-Mar
Slide 15: Key KPIs: CATV Business: Quarterly (Consolidated)
KEY KPIs : CATV Business : Quarterly : (Consolidated)* STBs Seeded (mn) Active Paying Subs (mn) NTO & Auto-dunning 9.50 9.50 7.45 Effect in Q4 7.28 7.00 7.11 6.80 9.20 8.90 8.70 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 14 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-S
Slide 16: Key KPIs: CATV Business Phase wise (Consolidated)
KEY KPIs : CATV Business Phase wise : (Consolidated)* Phase-wise Seeded STBs (mn) Q4 FY 19 Phase-wise Active Paying Subs (mn) Q4 FY 19 3.51 2.49 2.92 2.14 2.21 1.42 0.75 0.86 Phase I Phase II Phase III Phase IV Phase I Phase II Phase III Phase IV 15 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3=Oct-
Slide 17: Key KPIs: Broadband Business: Annual
KEY KPIs : Broadband Business : Annual HOME PASS (mn) SUBSCRIBER (mn) ARPU (₹) (NET OF TAXES) 2.42 480 480 0.33 455 440 423 0.28 0.24 1.30 0.17 1.08 0.84 0.09 0.50 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 16 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3=Oct-Dec, Q4=
Slide 18: Key KPIs: Broadband Business: Quarterly
KEY KPIs : Broadband Business : Quarterly HOME PASS (mn) SUBSCRIBER (mn) ARPU (₹) (NET OF TAXES) 0.33 2.42 480 0.32 465 2.15 450 430 1.80 0.30 413 1.53 1.30 0.29 0.28 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 Q4 FY18 Q1 FY19 Q2 FY19 Q3 FY19 Q4 FY19 17 * FY = Apr
Slide 19: Consolidated Financials
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Slide 20: Financial Highlights: Consolidated FY19 (IND AS)
Financial Highlights : Consolidated FY19 (IND AS) * Total Revenue up by 16% Annually; 9% Q-o-Q. 1 Revenue Subscription Revenue up by 26% Annually; 16% Q-o-Q Total Exp. Up by 17% Annually; 4% Q-o-Q 2 Expenses Finance cost Up by 21% Annually; 91% Q-o-Q (due to Foreign Exchange Loss) Up by 14% Annually
Slide 21: Consolidated Financial Performance Trends
Consolidated Financial Performance Trends* Revenue (In ₹ mn) EBITDA (In ₹ mn) 12,892 3,615 11,134 3,175 9,417 7,443 2,404 6,272 1,506 1,596 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 Subscription Revenue (In ₹ mn) Broadband Revenue (In ₹ mn) 7,332 1,425 1,442 5,799 1,289 4,494 3,378 730 2,999
Slide 22: Consolidated EBITDA Bridge FY19
Consolidated EBITDA Bridge FY19 In ₹ mn
Slide 23: Consolidated Financials FY19 (IND AS)
Consolidated Financials FY 19 (IND AS) * In ₹ mn Yearly Quarterly Particulars FY19 FY18 Y-o-Y% Q4 FY19 Q3 FY19 Q-o-Q% Q4 FY18 Y-o-Y % Revenue Subscription CATV 7,332 5,799 26% 2,083 1,798 16% 1,549 35% Broadband ISP 1,442 1,425 1% 364 362 1% 362 0% In view of the New Regulatory Placement 2,610 2,566
Slide 24: Consolidated Balance Sheet (IND AS)
Consolidated Balance Sheet (IND AS)* In ₹ mn As on 31st As on 31st As on 31st As on 31st Liabilities Assets March 2019 March 2018 March 2019 March 2018 Equity Non-Current Assets Equity Share Capital 1,125 1,125 Fixed Assets 12,460 12,486 Other Equity 5,887 5,755 Financial Assets Total Equity 7,012 6
Slide 25: Consolidated Financial Performance FY19
Consolidated Financial Performance FY19 * Net Worth (In ₹ mn) Total Debt (In ₹ mn) 6,577 6,648 5,499 4,660 3,872 3,303 3,282 3,452 3,378 2,674 FY15 FY16 FY17 FY18 FY19 FY15 FY16 FY17 FY18 FY19 Net Debt Trend (In ₹ mn) Key Leverage Broadband RevenueMetrics Trend (₹ mn) 2.4 4,437 3,802 1.8 1.8 2,692 1
Slide 26: Trend: Consolidated Financial Performance
Trend : Consolidated Financial Performance* Revenue (In ₹ mn) EBIDTA (In ₹ mn) 1,036 3,488 3,199 2,880 833 810 Q4 FY18 Q3 FY19 Q4 FY19 Q4 FY18 Q3 FY19 Q4 FY19 12,892 3,615 11,134 3,175 FY18 FY19 FY18 FY19 25 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3=Oct-Dec, Q4=Jan-Mar
Slide 27: Consolidated Financial Performance FY19
Consolidated Financial Performance FY19 * Q4 FY19 2% 2% 0% Q4 FY18 8% 6% 7% Subscription CATV Broadband ISP 15% Placement 23% Activation 60% 54% Other Operating Income 10% Other Income 13% Subscription Revenue (In ₹ mn) Broadband Revenue (In ₹ mn) 2,083 362 362 364 1,442 7,332 1,425 1,798 1,549 5,79
Slide 28: Break-up of Finance Cost: Consolidated
Break-up of Finance Cost : Consolidated * In ₹ mn Quarterly Annual Finance Cost Q4 FY19 Q3 FY19 Q4 FY18 FY19 FY18 Interest Expense 77 83 74 273 261 (Gain) / Loss On Foreign Currency 25 -39 4 175 4 Others 10 15 49 66 160 Total 112 59 128 514 425 27 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3=Oct-De
Slide 29: Standalone Financials
Standalone Financials
Slide 30: Financial Highlights: Standalone FY19 (IND AS)
* Financial Highlights : Standalone FY19 (IND AS) Total Revenue up by 12% Annually; 11% Q-o-Q 1 Revenue Subscription Revenue up by 23% Annually; 28% Q-o-Q Total Exp Up by 14% Annually; down by 2% Q-o-Q. 2 Expenses Finance cost Up by 24% Annually; 137% Q-o-Q (due to Foreign Exchange Loss) EBITDA Up b
Slide 31: Standalone Financials (IND AS)
Standalone Financials (IND AS) * In ₹ mn Yearly Quarterly Particulars FY19 FY18 Y-o-Y % Q4 FY19 Q3 FY19 Q-o-Q% Q4 FY18 Y-o-Y % Revenue Subscription CATV 4,942 4,020 23% 1,504 1,171 28% 1,054 43% Placement 2,398 2,351 2% 479 652 -26% 598 -20% Activation 645 709 -9% 154 161 -4% 178 -13% Other Operatin
Slide 32: Standalone Balance Sheet (IND AS)
Standalone Balance Sheet (IND AS) * In ₹ mn As on 31st As on 31st As on 31st As on 31st Liabilities Assets March 2019 March 2018 March 2019 March 2018 Equity Non-Current Assets Equity Share Capital 1,125 1,125 Fixed Assets 5,845 6,339 Other Equity 5,512 5,502 Financial Assets Total Equity 6,637 6,62
Slide 33: Trend: Standalone Financial Performance
Trend : Standalone Financial Performance * Revenue (In ₹ mn) EBIDTA (In ₹ mn) 2,304 796 2,080 1,985 543 537 Q4 FY18 Q3 FY19 Q4 FY19 Q4 FY18 Q3 FY19 Q4 FY19 8,428 2,479 7,557 2,346 FY18 FY19 FY18 FY19 32 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3=Oct-Dec, Q4=Jan-Mar
Slide 34: Break-up of Finance Cost: Standalone
Break-up of Finance Cost : Standalone In ₹ mn Quarterly Annual Finance Cost Q4 FY19 Q3 FY19 Q4 FY18 FY19 FY18 Interest Expense 55 57 44 203 196 (Gain) / Loss On Foreign Currency 19 -37 -25 143 0 Others 9 15 82 46 118 Total 84 35 102 392 315 33 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3=Oct-Dec, Q
Slide 35: 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 36: Investor Conference Call Details
Investor Conference Call Details 35
Slide 37: Thank You
Mr. Piyush Pankaj Chief Strategy Officer Email: piyush.pankaj@gtpl.net Mr. Mehul Mehta President – Dickenson Financial PR Contact: +91 98202 80325 Email: mehul.mehta@dickensonIR.com THANK YOU