Gmr Power And Urban Infra Ltd · NSE:GMRP&UI
Gmr Power And Urban Infra — GMR Infrastructure — FY2014 Earnings Presentation
56 slides from Gmr Power And Urban Infra's earnings presentation, 2014
Slide 1: GMR Infrastructure Ltd Investor Presentation FY2014
GMR INFRASTRUCTURE LTD Investor Presentation FY2014 0
Slide 2: Table of Contents
Table of Contents Industry Updates … 3 Part A: Performance Analysis Consolidated Financial Performance … 8 Airports Sector … 13 Energy Sector … 22 Highways Sector … 26 Part B: Business Overview Group Overview … 31 Airports Sector … 42 Energy Sector … 45 Highways Sector … 52 Disclai
Slide 3: Resurgence of Investor optimism in Indian Infrastructure post elections
Resurgence of Investor optimism in Indian Infrastructure post elections Major reforms are expected to bolster infrastructure development in India, acting as an engine of growth, creating thousands of new jobs and pushing up GDP growth Fast-tracking of projects in the pipeline and resolving iron ore
Slide 4: Industry Updates
GAR Industry Updates Humility | Entrepret ips | Deliverfhe Promise | Learning | Social Re:
Slide 5: Airports
AIRPORTS India is currently the 9th largest aviation market, connecting over 40 countries, handling 121 mn domestic and 41 mn international passengers, over 85 international airlines and 5 domestic carriers The Indian airport sector is expected to attract investments of USD 12.1 bn during the 12th p
Slide 6: Energy
ENERGY Southern Grid synchronised with the rest of the national grid to create a unified national grid to facilitate bulk transfer of power to/from the southern region and relieve transmission congestion CERC has notified new tariff norms from April 1, 2014 to March 31, 2019. The new provisions in t
Slide 7: Highways
HIGHWAYS Finance Ministry has approved the proposal to allow developers of an existing and upcoming project to sell or transfer their stake post lender’s approval The Planning Commission is likely to develop a new model for the implementation of the road projects whereby 50% of the project cost woul
Slide 8: Performance Analysis
GAR Performance Analysis Humility | Entrepret ips | Deliverfhe Promise | Learning | Social Re:
Slide 9: Consolidated Financial Performance
Consolidated Financial Performance 8
Slide 10: FY14 & Q4FY14 Performance Highlights
FY14 & Q4FY14 Performance Highlights Yearly Performance The Gross Revenue for the year has grown by 7% to Rs. 1,06,531 mn and EBITDA has grown by 5% to Rs. 25,945 mn. The increase is not reflected in Profits, as EMCO and Kamalanga plants are commissioned recently and the depreciation and interest ch
Slide 11: Net Revenue and EBITDA Key Indicators
Key Indicators INR Mn Others Inter Segment Net Revenue 5,710 (4,899) EPC Sectorwise Breakup 86,381 4,687 82,638 Highways Sector Net Revenue 6,658 Airport Sector 41,513 24,359 21,231 19,936 Energy Sector 32,713 Q4-2014 Q3-2014 Q4-2013 FY 2014 FY 2013 FY 2014 Inter Segment EBITDA (1,501) Sectorwise Br
Slide 12: Consolidated Profitability Statement
Consolidated Profitability Statement I NR Mn Q4-2014 Q3-2014 Q4-2013 FY 2014 FY 2013 Ai rports 15,480 16,053 17,293 60,229 61,219 Power 9,846 7,623 5,089 33,426 24,295 Roads 2,496 1,633 1,821 7,379 5,174 EPC 1,398 781 2,503 4,687 14,537 Others 1,502 1,200 1,328 5,710 5,413 Less: Inter Segment (1,114
Slide 13: Key Balance Sheet Analysis
Key Balance Sheet Analysis Gross BlockOthers as on Mar 31, 2014 INR Mn Roads 29,592 Total: 64,793 5% 554,237 12% Airport 146,340 26% Power 313,512 57% INR Mn INR Mn Mar 31, 2014 Mar 31, 2013 Mar 31, 2014 Mar 31, 2013 437,787 408,249 107,853 109,693 377,880 337,156 59,908 71,093 Gross Debt Cash & Cas
Slide 14: Airports Sector
GAR Airports Sector Humility | Entrepret ips | Deliverfhe Promise | Learning | Social Re:
Slide 15: Highlights
Highlights The Total passenger traffic in FY14 has grown by 7% to 36.88 mn, International traffic grown by 10% to 12.68 mn Total ATM in FY14 has grown by 4% to 3.13 lac, Domestic ATM grown by 7% to 2.35 lac Gross Revenue in FY14 has increased by 20% to Rs 39,220 mn, Aero Revenue by 25% to Rs 2
Slide 16: Airports Sector Consolidated: Financial Performance
Airports Sector Consolidated: Financial Performance I NR Mn Q4-2014 Q3-2014 Q4-2013 FY 2014 FY 2013 * Aero Revenue 8,558 8,652 10,887 33,314 27,526 * Non Aero Revenue 5,515 5,804 4,744 20,984 20,112 Cargo 731 717 684 2,874 2,770 CPD Rentals 258 258 245 1,024 993 Fuel income 418 622 732 2,034 9,801 G
Slide 17: Delhi International Airport: Operational Performance
Delhi International Airport: Operational Performance Passenger (Mn) ATM ('000) 313.96 36.88 300.92 Domestic International Total Domestic International Total 34.37 234.99 220.32 78.96 80.58 74.07 78.97 80.60 24.20 59.21 60.36 53.13 22.80 19.75 20.22 20.95 Q4-2014 Q3-2014 Q4-2013 FY 2014 FY 2013 Cargo
Slide 18: Delhi International Airport: Financial Performance
Delhi International Airport: Financial Performance INR Mn Particulars Q4-2014 Q3-2014 Q4-2013 FY 2014 FY 2013 * Aero Revenue 6,888 6,937 8,816 26,715 21,307 * Non Aero Revenue 2,573 2,707 2,695 10,153 9,101 Cargo Revenue share 372 347 339 1,421 1,294 CPD Rentals 229 235 217 930 881 Gross Revenue 10,
Slide 19: Delhi International Airport: Revenue Analysis
Delhi International Airport: Revenue Analysis (INR per pax) Total Total Other Other 1,064 Revenue 948 Revenue Non Aero 63 64 Revenue 7% 6% 275 UDF Non Aero UDF 26% 490 Revenue 395 46% 265 41% 28% Other Aero Other Aero Revenue Revenue 235 225 22% 24% FY 2014 FY 2013 18
Slide 20: Hyderabad International Airport: Operational Performance
Hyderabad International Airport: Operational Performance Passengers (Mn) ATM ('000) 88.13 90.65 Domestic International Total Domestic International Total 75.28 71.32 8.73 8.38 22.61 22.43 21.94 18.44 18.14 17.94 16.81 6.36 15.36 6.29 4.17 4.29 4.00 Q4-2014 Q3-2014 Q4-2013 FY 2014 FY 2013 Cargo ('000
Slide 21: Hyderabad International Airport: Financial Performance
Hyderabad International Airport: Financial Performance INR Mn Q4-2014 Q3-2014 Q4-2013 FY 2014 FY 2013 * Aero Revenue 1,086 1,036 1,701 4,234 4,250 * Non Aero Revenue 758 745 776 2,898 2,671 Cargo Revenue Share 30 30 28 120 107 Gross Revenue 1,874 1,811 2,505 7,253 7,029 Less: Revenue Share 75 77 103
Slide 22: Hyderabad International Airport: Revenue Analysis
Hyderabad International Airport: Revenue Analysis (INR per pax) Other Other Revenue Total: Revenue Total: 14 831 15 839 2% 2% UDF Non Aero UDF Non Aero 363 Revenue 376 Revenue 44% 319 45% 332 38% 40% Other Aero Other Aero PSF Revenue PSF Revenue 37 91 39 84 4% 11% 4% 10% FY 2014 FY 2013 21
Slide 23: Energy Sector
GAR Energy Sector Humility | Entrepret ips | Deliverfhe Promise | Learning | Social Re:
Slide 24: Highlights
Highlights EMCO & Kamalanga power plants have contributed revenues of Rs 9,805 mn during the current financial year. Past dues in TNEB has reduced substantially with receipt of around Rs 14,144 mn during the current year. EMCO (600 MW) • FSA signed for entire capacity of 600 MW • Unit 2 declared CoD
Slide 25: Energy Sector Consolidated: Financial Performance
Energy Sector Consolidated: Financial Performance INR Mn Q4-2014 Q3-2014 Q4-2013 FY 2014 FY 2013 Power Generation 5,265 5,023 2,908 20,860 13,162 Coal Revenue 2,032 1,564 1,421 6,928 7,797 Power Trading and others 2,548 1,036 760 5,638 3,292 Gross Revenue 9,846 7,623 5,090 33,426 24,251 Net Revenue
Slide 26: Energy Sector - Power Generation: Operational Performance
Energy Sector - Power Generation: Operational Performance PLF (%) Q4-2014 Q3-2014 Q4-2013 FY 2014 FY 2013 58% 52% 51% 51% 49% 48% 42% 43% 38% 39% 36% 36% 27% 24% 21%20%21% 19%19% 19% 10% 4% 5% 0% 0% 0% 0% 0% 0% 0% GEL GPCL VPGL EMCO* GKEL** Solar Net Generation (MU) 2,000.0 1,800.0 1,600.0 1,400.0 1
Slide 27: Highways Sector
GAR Highways Sector Humility | Entrepret ips | Deliverfhe Promise | Learning | Social Re:
Slide 28: Highlights
Highlights Divestment of 74% stake in Jadcherla road project completed Divestment of 74% stake in Ulundurpet road project completed Toll rates have increased during the year on account of the following inflation adjustments: Asset Inflation Adjustment Date GACEPL 7.35% 01st Sep-2013 GHVEPL 7.31% 04t
Slide 29: Highways Consolidated: Financial Performance
Highways Consolidated: Financial Performance INR Mn Q4-2014 Q3-2014 Q4-2013 FY 2014 FY 2013 Annuity Revenue 1,553 628 617 3,423 2,485 Toll Revenue 943 1,005 1,204 3,956 2,688 Gross Revenue 2,496 1,633 1,820 7,379 5,174 Less: Revenue Share 189 180 186 721 211 Net Revenue 2,306 1,453 1,635 6,658 4,963
Slide 30: Highways - Toll Projects: Operational Performance
Highways - Toll Projects: Operational Performance Traffic (mn) Traffic PCU (mn) 15.00 33.00 13.50 30.00 12.00 27.00 10.50 24.00 9.00 21.00 7.50 18.00 6.00 15.00 12.00 4.50 9.00 3.00 6.00 1.50 3.00 - - GACEPL GHVEPL GOHHPL GACEPL GHVEPL GOHHPL Q4-2014 2.27 3.81 1.15 Q4-2014 3.02 8.40 3.81 Q3-2014 2.2
Slide 31: Business Overview
Business Overview Humility | Entrepret ips | Deliverfhe Promise | Learning | Social Re:
Slide 32: Group Overview
Group Overview Humility | Entrepret ips | Deliverfhe Promise | Learning | Social Re:
Slide 33: Business Overview
Business Overview AIRPORTS ~87 mn Passenger Capacity 2 Domestic Airports in Delhi & Hyderabad Recently Awarded Mactan – Cebu International Airport ENERGY ~5,454 MW Power Generation Capacity 2,486 MW Operational / 2,968 MW Under Construction 350kms Transmission 1,609 mn tons Coal Mine Reserves HIGHWA
Slide 34: Visionary Leadership Building Institution for Perpetuity
Visionary Leadership Building Institution for Perpetuity… THE GROUP HOLDING BOARD GM Rao Group Chairman Srinivas Bommidala GBS Raju G Kiran Kumar B V N Rao P M Kumar Chairman, Airports Chairman, Energy Corporate Chairman Chairman, Urban Chairman, Institution & MD, GMR Infra Infra & Highways Building
Slide 35: Family Constitution and outside-in views governance
Two highlights of our governance are the Family Constitution and outside- in views... Family Governance Group Performance Advisory Council • A family vision that is in sync with the • An independent panel comprising six business vision eminent industry leaders • Describes the family governance • The
Slide 36: Group Performance Advisory Council
A feature of our governance is the Group Performance Advisory Council, which comprises eminent industry leaders. A highly acclaimed business advisor, speaker, and author who has coached some of the Dr Ram Charan world's most successful CEOs. For 35 years, he's worked with companies like GE, Bank of
Slide 37: Institution building through technology, people and governance
We have approached institution building through technology, people and governance. 02 03 Process & Governance Technology • Family Governance guided by • Centralized infrastructure and Family Constitution ERP with real-time intelligence • Management Assurance , • Business automation with real- Ethics
Slide 38: Group's values and beliefs driven through institutional mechanisms
The Group’s values and beliefs are driven through institutional mechanisms. Integration of Values & Beliefs into GMR Work • Mandatory value clarification workshops • Used as a key criteria during recruitment • 360 degree feedback on values • Incorporated in performance appraisal of all employees 37
Slide 39: Giving back to the Community through GMR Varalakshmi Foundation
We are committed to “Giving back to the Community” through GMR Varalakshmi Foundation. “To make sustainable impact on the human development of under-served The GMR VF Mission communities through initiatives in education, health and livelihoods” Through Through Our Four Pronged approach “Our Projects
Slide 40: Assets creation phase completed, entering into cash flow generation
Assets creation phase completed, entering into cash flow generation - COD of Kamalanga, EMCO (1,650 MW) - COD of 3 highway BOT assets -Awarded Mactan Cebu Airport -CoD of Chennai ORR - COD of Vemagiri (388 MW) - COD of Hyderabad airport - COD of Ambala- Chandigarh highway - Awarded 180 MW Bajoli Hol
Slide 41: Corporate Structure
Corporate Structure The Group has been conferred with the Most Caring Shareholding FIIs 11.2% Company Award-2013 at a ceremony in Mumbai GIL Pattern As on Mar 31 2014 Promoter & Promoter Group 71.7% MF & DIIs 7.5% Others 9.7% 97% * 98% * 100% Airports Energy Roads Group Group Group Operational Opera
Slide 42: Recognition & Awards
Recognition & Awards Delhi Airport has been rated “Best Airport in India & Central Asia” in SKYTRAX – 2014 World Airport Awards The CNBC AWAAZ announced " Best Managed Airport " Award for Delhi Airport held at Mumbai on 25th June 2013. The Airport received this award for third time in a row. Delhi A
Slide 43: Airports Sector
GAR Airports Sector Humility | Entrepret ips | Deliverfhe Promise | Learning | Social Re:
Slide 44: Airport Asset Details
Airport Asset Details GMR is the largest private developer and operator of Airports in India Delhi International Airport (DIAL) Hyderabad International Airport (GHIAL) Project India India Annual Passenger Capacity 60 mn 12 mn GMR Stake 54% 63% Airport Authority of India - 26% Airport Authority of In
Slide 45: GMR Megawide Cebu Airport Corporation (Mactan-Cebu)
GMR Megawide Cebu Airport Corporation (Mactan - Cebu International Airport) Consortium Partners Architectural concept design which will be refined during Detailed Design Megawide Construction 60% GMR Infrastructure 40% Concession Overview Concession Date 22nd April 2014 Airport Capacity Current Phas
Slide 46: Energy Sector
GAR Energy Sector Humility | Entrepret ips | Deliverfhe Promise | Learning | Social Re:
Slide 47: Energy Assets
Energy Assets 2,486MW in operation and 2,968MW under construction Presence across the entire value chain covering diverse geographies makes it one of India’s few fully integrated players Bajoli Holi - GBHHPL Alaknanda - BHPGPL (180MW / Hydro) (300MW / Hydro) Rajasthan - Maru (265 kms) Rajasthan – Ar
Slide 48: Power Assets Portfolio Summary
Power Assets Portfolio Summary Capacity by stage Capacity build-up Operational MW 2,486 9,000 46% 7,000 480 5,454 350 768 5,000 1,370 3,000 2,486 1,000 Under Construction -1,000 Till date FY15 FY16 FY17 FY18 Total 2,968 54% 5,454MW Fuel type split1 MW 9,000 7,500 5,454 6,000 228 4,500 2,968 1,376 2,
Slide 49: 2,486 MW of Operational Power Generation Capacity
2,486 MW of Operational Power Generation Capacity GGSPL GPCL GEL GVPGL EMCO GKEL-Phase I Kutch* Tirupur * Project (Gujarat Solar, (Chennai) (Kakinada) (Vemagiri) (Warora) (Kamalanga) (Gujarat) (Tamil Nadu) Patan) Capacity 200 MW 220 MW 388 MW 25 MW 600 MW 1,050 MW 2.1 MW 1.25 MW GMR Stake 51% 100% 1
Slide 50: 2,968 MW of Power Projects under Construction
2,968 MW of Power Projects under Construction GREL GKEL-Phase II GCEL GBHHPL BHPGPL Project (Rajahmundry, Andhra Unit IV (Raipur, Chhattisgarh) (Bajoli Holi, Himachal Pradesh) (Badrinath, Himachal Pradesh) Pradesh) (Kamalanga, Odissa) Capacity 768 MW 1,370 MW 350 MW 180 MW 300 MW GMR Stake 100% 100%
Slide 51: Fuel Security
Fuel Security PT Barasentosa Lestari (Indonesia) PT GEMs (Indonesia) Acquired PT Barasentosa Lestari in Sep 08 having coal mine in Acquired 30% stake in in PT Golden Energy Mines TbK South Sumatra Province (“GEMS”), a Sinar Mas Group company in Indonesia 700 mn tons coal resources in ~25,000 h
Slide 52: Transmission Projects
Transmission Projects MTSCL ATSCL Project (Maru,Rajasthan) (Aravali,Rajasthan) GMR Stake 100% 100% Length 265 kms 85 kms Project Completion % 99% 95% Partially Operational/ Expected CoD FY2015 FY2015 Two 400 KV S/C and one 220 KV D/C One 400 KV S/C transmission lines Configuration transmission l
Slide 53: Highways Sector
GAR Highways Sector Humility | Entrepret ips | Deliverfhe Promise | Learning | Social Re:
Slide 54: Highways Assets
Highways Assets 599 kms in Operation 284 kms Annuity based and 315 kms Toll based Significant scale-up in the Highways business from the under-construction projects Chandigarh-Ambala Highway – GACEPL (35 kms) Tuni-Anakapalli Highway – Adloor-Gundla Pochanpalli GTAEPL (59 kms) Highway – GPEPL (103 km
Slide 55: Highways Projects (599 kms)
Highways Projects (599 kms) GTTEPL GCORRPL GTAEPL GPEPL GACEPL GHVEPL GOHHHPL Project Tambaram – Chennai Outer Ring Tuni – Anakapalli Pochanpalli Ambala – Chandigarh Hyderabad – Vijaywada Hungund – Hospet Tindivanam Road GMR Stake 100% 100% 100% 90% 100% 90% 51% Road Length 59 kms 93 kms 103 kms 29
Slide 56: Thank You
Thank You For further information, please visit Website: www.gmrgroup.in or Contact: investor.relations@gmrgroup.in 55