Gmr Power And Urban Infra Ltd · NSE:GMRP&UI
Gmr Power And Urban Infra — Q2 FY26 Earnings Presentation
39 slides from Gmr Power And Urban Infra's earnings presentation, Nov 15, 2025
Slide 1: Cover letter to stock exchanges
November 15, 2025 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 Power and Urban Infra Ltd. Investor Presentation – Q2FY26
GMR Power and Urban Infra Ltd. (GPUIL) Investor Presentation – Q2FY26 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 – 12 - Energy Business 13 – 15 - Transportation and Urban Infrastructure Business 16 – 20 Strategy and Way Forward 21 – 24 ESG Practices 25 – 28 Annexures 30 – 37 Humility | Entrepreneurship | Team
Slide 5: Snapshot of Existing Businesses
Snapshot of Existing Businesses Energy Smart Metering Highways & EPC Urban Infra 2 Thermal Power Plants Advanced 2 Annuity Projects Special • Operational : 1,650 MW Metering • 133 kms Investment • Under-development : 350 MW Infrastructure Region (SIR) Project • ~431 acres in 1 Toll Project • 7.57 Mn
Slide 6: Corporate Structure
Corporate Structure (as of 30 Sep’25) GMR Power and Urban Infra Ltd. (GPUIL) 100% 100% 92.03%3 100% 100% 100% Special Investment GMR Energy Other Energy Assets GMR Highways Ltd. Region Operational Projects Stake Operational Projects Stake Annuity Projects Stake Strategic Land Parcel Stake Warora Pla
Slide 7: Key Business Highlights
Key Business Highlights ▪ The Supreme Court pronounced1 its Judgment on 8 Sep’25 and dismissed the Civil Appeals filed Supreme Court by the Distribution Licensees of Haryana and GRIDO, thereby upholding the APTEL judgment: dismissed the Civil o Pro-rata Allocation of Linkage Coal: The Court confirme
Slide 8: Key Business Highlights
Key Business Highlights Rapidly Progressing on implementation of Smart Meter Project ▪ Installation, technology integration and maintenance of ~7.57mn prepaid smart meters Project ▪ Spanned across 22 districts of Uttar Pradesh for a duration of 10 years ▪ Total contract value of ~ INR 75.9bn ▪ Enter
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 – Q2FY26
GPUIL Performance Highlights – Q2FY26 Consolidated Financials ▪ Total Income • Q2FY26:▲28% YoY; ▲9% QoQ to INR 19.2bn. H1FY26: ▲14% YoY to INR 36.9bn • YoY increase due to smart meter revenue (INR 2.9bn in Q2FY26 vs NIL in Q2FY25) and increase in international coal trading revenue (▲ by INR 1.2bn in
Slide 11: GPUIL Operational Performance Highlights
GPUIL Operational Performance Highlights Energy - PLFs Q2FY2025 Q2FY2026 H1FY2025 H1FY2026 Warora 67% 73% 80% 80% Kamalanga 78% 81% 85% 86% Highways – Avg. Daily Traffic ('000) Q2FY2025 Q2FY2026 H1FY2025 H1FY2026 Ambala - Chandigarh 46.0 38.4 48.2 39.7 Q2FY26 Consolidated Total Income Q2FY26 Consoli
Slide 12: Key Energy Assets - Operational & Financial Highlights YoY
Key Energy Assets - Operational & Financial Highlights YoY (figures in INR mn) Kamalanga Warora Solar Particulars Q2FY2025 Q2FY2026 Q2FY2025 Q2FY2026 Q2FY2025 Q2FY2026 Total Income 7,330 7,190 4,187 4,407 80 78 EBITDA 2,696 2,678 1,179 1,388 70 66 Interest 1,367 976 550 519 10 8 PAT 514 5,772 247 42
Slide 13: GPUIL Consolidated Debt
GPUIL Consolidated Debt Gross & Net Debt Net Debt (Sector-wise)^ (in INR bn) ^ (in INR bn, %age of total) 15 ▪ Gross Debt increased by INR 11.1bn QoQ ▪ Net Debt increased by INR 9.1bn QoQ Finance Cost Breakdown (INR mn) Q2FY2025 Q1FY2026 Q2FY2026 Cash Finance Cost 3,295 3,198 3,560 • INR 16bn NCDs i
Slide 14: GPUIL Proforma Debt
GPUIL Proforma Debt Significant reduction in Net Debt (incl. JVs) over last 3 years Divested 30% equity stake in PT Golden Energy Mines Tbk Proforma Net Det ex. Bajoli Holi and GREL Bajoli Holi + GREL Proforma Net Debt / LTM EBITDA Hyderabad – Vijayawada Rajahmundry OTS & Divestment of Bajoli 175 6.
Slide 15: Energy Business
ENERGY BUSINESS Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 16: Key Developments – Energy Business: Kamalanga
Key Developments – Energy Business Kamalanga Power Project Q2FY26 H1FY26 ▪ Total Income ▼2% YoY to INR 7.2bn ▪ Total Income – INR 14.9bn; ▼3% YoY • PLF at 81% vs. 91% in Q1FY26 and 78% in Q2FY25 • PLF at 86% vs. 85% in H1FY25 • PLF impacted by shutdown of Unit 2 for 25 days due to annual overhauling
Slide 17: Key Developments – Energy Business: Warora
Key Developments – Energy Business Warora Power Project Q2FY26 H1FY26 ▪ Total Income – ▲5% YoY to INR 4.4bn ▪ Total Income – INR 9.3bn; ▼9% YoY • PLF at 73% vs. 88% in Q1FY26 and 67% in Q2FY25 • PLF at 80% in H1FY26 and H1FY25 • PLF impacted by shut down of Unit 1 for 7 days due to annual overhaulin
Slide 18: Transportation and Urban Infrastructure Business
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 Ambala Chandigarh Project ▪ Average Daily Traffic – Q2FY26: ▼17% YoY ▪ Claim against reduction in traffic due to diversion on alternate routes • NHAI1 has filed Special Leave Petition (SLP) in Supreme Court challenging Delhi High Court Judgement on referring the e
Slide 20: Highway Business Assets Performance
Highway Business Assets Performance (figures in INR mn) Ambala - Chandigarh Pochanpalli Chennai ORR Particulars Q2FY2025 Q2FY2026 Q2FY2025 Q2FY2026 Q2FY2025 Q2FY2026 Total Income 331 230 220 205 180 220 EBITDA 250 148 144 116 105 67 Interest 62 70 72 58 175 158 PAT (17) (56) 48 41 (73) (91) Avg. Dai
Slide 21: Urban Infrastructure – Potential to Unlock Value
Urban Infrastructure – Potential to Unlock Value Krishnagiri Special Investment Region: ~431 acres^ ▪ ~32 acres under discussion for sale to an agency of Tamil Nadu Govt. ▪ Next phase of development being planned for ~55 acres ▪ 20 acres leased to Industrial Client ▪ Industrial cluster catering to e
Slide 22: EPC in Dedicated Freight Corridor Projects
EPC in Dedicated Freight Corridor Projects GMR’s Scope and Highlights Current Status • GMR along with JV partner has been awarded contract to • Project already handed over to DFCCIL construct a part of the DFC Eastern Corridor of ~450 km • Construction of all sections complete and sections are • Pro
Slide 23: 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 24: Establishing the Foundation for GPUIL 2.0
Establishing the Foundation for GPUIL 2.0 GPUIL 2.0 GPUIL: Today Immediate Focus Future Focus Smart Metering Renewable Energy Smart Mobility Focus on C&I and Conventional Energy ✓ Hybrid / FDRE supply Conventional Energy Highways and EPC T & UI + adjacent businesses like Urban Infra energy trading,
Slide 25: GPUIL 2.0
GPUIL 2.0 Solutioning across the GENERATION DISTRIBUTION CONSUMPTION end-to-end value chain Conventional & RE Smart Distribution Smart Mobility Adjacencies Conventional • Smart metering • EV fleet and energy • Energy efficiency • Brownfield expansion – • Distribution models: replenishment solutions:
Slide 26: Clearly Defined Strategies to Capitalize on the Attractive Industry Prospects
Clearly Defined Strategies to Capitalize on the Attractive Industry Prospects ▪ Maintaining high operational efficiencies in existing energy assets ▪ Focus on implementation of Smart metering business as well as participating in the upcoming smart metering opportunities Energy ▪ Refinancing initiati
Slide 27: ESG Practices
ESG PRACTICES Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 28: Integrating ESG across Operations
Integrating ESG across Operations Management Systems at Warora and Kamalanga Power Plants: • ISO 14001: Environmental Management System Robust • ISO 50001: Energy Management System Management • ISO 46001: Water Efficiency Management System Systems • ISO 14064: GHG emissions accounting • 5S Certifica
Slide 29: Accelerating Action on ESG (1/2)
Accelerating Action on ESG (1/2) Environment In alignment with GPUIL and energy sector, EHS Policy being implemented across smart metering Policy operations • In addition to 25 MW solar unit in Gujarat, 642 KWp and 70 KWp capacity of solar rooftop installed at Kamalanga and Warora, respectively Emis
Slide 30: Accelerating Action on ESG (2/2)
Accelerating Action on ESG (2/2) Social ESG - Remain focused on our Sustainability journey • CSR initiatives across education, healthcare, and livelihoods positively impacted approximately Corporate 35,000 individuals Social • A temporary skill training center was initiated at Varanasi with 110 stud
Slide 31: 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 32: Annexures
ANNEXURES Humility | Entrepreneurship | Teamwork & Respect for Individual | Deliver the Promise | Learning & Inner Excellence | Social Responsibility | Financial Prudence - Frugality
Slide 33: Annexures
Annexures Particulars No. Profitability Statement (Consolidated) A Financial Performance ▪ Energy Sector (Consolidated) B ▪ Warora (Standalone) C ▪ Kamalanga (Standalone) D ▪ Highways Sector (Consolidated) E ▪ Smart Meter (IND AS Consolidated and Proforma* - Operating Asset Accounting) F Note Some t
Slide 34: Annexure A: GPUIL (Consolidated)
Annexure A : GPUIL (Consolidated) INR mn Particulars Q2FY2025 Q1FY2026 Q2FY2026 H1FY2025 H1FY2026 Revenue 13,838 16,485 18,104 29,954 34,588 Other Income 1,225 1,196 1,117 2,452 2,279 Total Income 15,063 17,681 19,220 32,406 36,867 Less: Revenue Share 0 0 0 566 0 Net Income 15,063 17,681 19,220 31,8
Slide 35: Annexure B: Energy Business (Consolidated)
Annexure B : Energy Business (Consolidated) INR mn Particulars Q2FY2025 Q1FY2026 Q2FY2026 H1FY2025 H1FY2026 Revenue 12,244 13,499 14,085 25,636 27,584 Other Income 949 1,008 945 1,807 1,953 Total Income 13,192 14,507 15,030 27,442 29,537 Operating Expenditure 8,813 9,871 10,871 18,105 20,743 EBITDA
Slide 36: Annexure C: Warora (Standalone) Power Plant
Annexure C : Warora (Standalone) Power Plant INR mn Particulars Q2FY2025 Q1FY2026 Q2FY2026 H1FY2025 H1FY2026 Revenue 4,080 4,751 4,100 9,254 8,851 Other Income 107 98 308 875 406 Total Income 4,187 4,849 4,407 10,129 9,257 Fuel - Consumption 2,366 2,710 2,354 5,273 5,064 Other Expenses 641 591 666 1
Slide 37: Annexure D: Kamalanga (Standalone) Power Plant
Annexure D : Kamalanga (Standalone) Power Plant INR mn Particulars Q2FY2025 Q1FY2026 Q2FY2026 H1FY2025 H1FY2026 Revenue 6,717 7,037 6,586 14,188 13,623 Other Income 613 722 605 1,198 1,326 Total Income 7,330 7,759 7,190 15,387 14,949 Fuel - Consumption 3,229 3,499 3,265 7,249 6,765 Other Expenses 1,
Slide 38: Annexure E: Highway Business (Consolidated)
Annexure E : Highway Business (Consolidated) INR mn Particulars Q2FY2025 Q1FY2026 Q2FY2026 H1FY2025 H1FY2026 Revenue 595 528 523 2,644 1,052 Other Income 37 70 106 167 175 Total Income 632 598 629 2,811 1,227 Less: Revenue Share 0 0 0 566 0 Net Income 632 598 629 2,245 1,227 Operating Expenditure 18
Slide 39: Annexure F: Smart Meter
Annexure F : Smart Meter IND AS - Consolidated Proforma* - Operating Asset Accounting INR mn INR mn Particulars Q2FY2025 Q1FY2026 Q2FY2026 H1FY2025 H1FY2026 Particulars H1FY2026 Revenue 0 1,835 2,889 0 4,724 Revenue 1,532 Other Income 3 14 11 3 25 Other Income 29 Total Income 3 1,848 2,900 3 4,748 T
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