GTPL Hathway Ltd · NSE:GTPL
GTPL Hathway — Q2 FY19 Earnings Presentation
36 slides from GTPL Hathway's earnings presentation, Nov 14, 2018
Slide 1: Cover letter to stock exchanges
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: 079-30280340/41, 256264707 Fax: 079-61400007 Ref. No.: GTPL/SE/2018 Nove
Slide 2: Q2 & H1 FY19 Results Update Presentation
Q2 & H1 FY19 GTPL Hathway Limited RESULTS UPDATE PRESENTATION NOVEMBER 2018
Slide 3: Discussion Summary
DISCUSSION SUMMARY 1 Company Overview & Strategy 3 - 11 2 Key KPIs 12 - 18 3 Consolidated Financials 19 - 26 4 Standalone Financials 27 - 32
Slide 4: Company Overview & Strategy
Company Overview & Strategy
Slide 5: Leader Across Key Regional Cable Markets In India
Leader Across Key Regional Cable Markets In India -No 1 in CATV - 67% KEY HIGHLIGHTS (as of 30-Sep-18) Present in 500+ towns market share - 4.4 mn STB across 10 states Showing Maximum number Presence in 500+ towns across 10 states Seeded -Significant of TV Channels in India Private Set-Top Boxes See
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 1.2 mn STBs Markets • 1.70 Mn Broadband Home Pass, mainly in Gujarat • 95% 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 27 years
Slide 9: Launch Of GigaHD: Product With Dual Services
Launch Of GigaHD : Product With Dual Services Launched “GigaHD” : Broadband services along with Cable services, under single umbrella The product encompasses full Digital Cable TV package, (all channels, with 65 HD services) and broadband speed variants up to 100 Mbps, with a choice of up to 18 mont
Slide 10: Immediate Growth Opportunities
Immediate Growth Opportunities ➢ Monetization has begun in Phase III & IV, growth in ARPU in these phases expected over next 2 years ➢ Increase footprints in existing market through expansion and venture new markets through acquisitions and consolidations ➢ With 4.4 mn Households’ reach in Gujarat &
Slide 11: Immediate Growth Opportunities
Immediate 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)
Slide 12: Recent TRAI Order Bodes Well For MSO
Recent TRAI Order Bodes Well For MSO Change in content pricing from wholesale to retail basis thereby empowering distribution platforms Key provision Impact on MSO ✓ Distributors can charge a maximum of ₹ 130 (ex- taxes) per sub per month as network capacity fee(1) ✓ Allows for complete pass through
Slide 13: Key KPIs
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Slide 14: Performance KPIs
Performance KPIs Seeded 300K STBs Added 200K CATV Digital Active Subscribers Increased 170K CATV Digital Paying Subscribers Increased ARPU in Phase III by 6% and Phase IV by 11% Gross Debt stands at ₹ 3,435 mn as at 30-Sep-18 against ₹ 3,460 mn as at 30-Jun-18 Net Debt stands at ₹ 2,355 mn as at 30-
Slide 15: Performance KPIs
Performance KPIs Added 270K new Home Pass Increased 14K new Subscribers Added 30K FTTX Subscribers Consumption per Customer Stands at 87 GB/month as on June 2018 increasing from 38 GB/month in March 2017 Launched GPON FTTH High-Speed broadband services of 100 Mbps and 40 Mbps “unlimited data” plans
Slide 16: Performance KPIs
Performance KPIs ➢ Industry First; launched in Gujarat ➢ Product with Dual Services, Broadband Services along with Cable Services, under single package ➢ Mass delivery through Business Partners’ (LCOs) strong presence across Gujarat. ➢ Single Invoice for the consumer ➢ Consumer price ranges between
Slide 17: KEY KPIs: CATV Business Quarter Wise: Consolidated
KEY KPIs : CATV Business Quarter Wise : Consolidated* STBs Seeded (mn) Active STBs (mn) Digital Paying Subs (mn) 7.28 9.20 7.80 7.11 7.60 8.90 7.00 8.70 7.40 6.75 8.46 7.20 6.64 7.06 8.28 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19
Slide 18: KEY KPIs: CATV Business Phase Wise: Consolidated
KEY KPIs : CATV Business Phase Wise : Consolidated* Phase-wise Seeded STBs (mn) Q2 FY 19* Phase-wise Active Subs (mn) Q2 FY 19* 3.35 3.01 2.78 2.45 2.22 1.68 0.85 0.66 PHASE-I PHASE-II PHASE-III PHASE-IV PHASE-I PHASE-II PHASE-III PHASE-IV Phase-wise Digital Paying Subs (mn) Q2 FY 19* Phase-wise ARP
Slide 19: KEY KPIs: Broadband Business: Quarter Wise
KEY KPIs : Broadband Business : Quarter Wise* Home Pass (mn) Subscribers (‘000) ARPU (₹) Net of Taxes 1.80 304 487 487 480 465 1.53 450 290 1.30 1.24 1.15 280 272 260 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 Q2 FY18 Q3 FY18 Q4 FY18 Q1 FY19 Q2 FY19 18 * FY = Apr
Slide 20: Consolidated Financials
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Slide 21: Highlights: Consolidated Financial Results Q2FY19
Highlights : Consolidated Financial Results Q2FY19* Revenue up by 14% EBITDA up by 12% 1 Y-o-Y PAT of ₹ 154 mn EBITDA Margin at 28.4% Revenue up by 26% 2 H1-o-H1 EBITDA up by 16% Revenue up by 5% 3 Q-o-Q EBITDA up by 7% Subscription Revenue up by 22% Y-o-Y; up by 6% Q-o-Q 4 Revenue Broadband Revenue
Slide 22: Trend: Consolidated Financial Performance
Trend : Consolidated Financial Performance* Revenue (₹ mn) EBIDTA (₹ mn) 3174 902 3031 841 2,789 803 Q2FY18 Q1FY19 Q2FY19 Q2FY18 Q1FY19 Q2FY19 6,205 1,743 5,413 1,508 H1 FY18 H1 FY19 H1 FY18 H1 FY19 21 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3=Oct-Dec, Q4=Jan-Mar , H1=Apr-Sep
Slide 23: Consolidated Financial Performance Q2FY19
Consolidated Financial Performance Q2FY19* 1% 2% 1% 1% 7% Subscription CATV 10% Broadband-ISP 23% Placement 23% Activation 52% 56% Other Operating Income 11% 13% Other Income Q2 FY19 Q2 FY18 Subscription Revenue (Revenue ₹ mn) Broadband Revenue (₹ mn) 3,451 359 358 716 1775 354 702 1675 1456 2,749 Q
Slide 24: Consolidated EBITDA Bridge: Q2FY19 vs Q2FY18
Consolidated EBITDA Bridge : Q2FY19 vs Q2FY18* 23 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3=Oct-Dec, Q4=Jan-Mar,H1=Apr-Sep
Slide 25: Consolidated Financials Q2 FY19 (IND AS)
Consolidated Financials Q2 FY 19 (IND AS)* Quarterly Half Yearly Yearly Particulars (₹ mn) Q2 FY19 Q1 FY19 Q-O-Q % Q2 FY18 Y-O-Y % H1 FY19 H1 FY18 H1-O-H1 % FY'18 Revenue Subscription CATV 1,775 1,675 6% 1,456 22% 3,451 2,749 26% 5,799 Broadband-ISP 358 359 0% 354 1% 716 702 2% 1,425 Placement 717 6
Slide 26: Consolidated Balance Sheet (IND AS)
Consolidated Financials Q2 FY 19 (IND AS)* As on 31st As on 31st As on 31st As on 31st As on 31st As on 31st ASSETS (₹ mn) LIABILITIES (₹ mn) Sep 2018 Mar 2018 March 2017 Sep 2018 March 2018 March 2017 Non-Current Assets Equity Fixed Assets 12,693 12,486 11,135 Equity Share Capital 1,125 1,125 983 F
Slide 27: Break-up of Finance Cost: Consolidated
Break-up of Finance Cost : Consolidated* Finance Cost (₹ mn) Q2 FY19 Q1 FY19 Q2 FY18 Interest Expense 85 63 95 Loss On Foreign Currency 94 99 11 Total 179 161 106 26 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3=Oct-Dec, Q4=Jan-Mar
Slide 28: Standalone Financials
Standalone Financials
Slide 29: Highlights: Standalone Financial Results Q2FY19
Highlights : Standalone Financial Results Q2FY19* Revenue up by 12% EBITDA Margin at 28% 1 Y-o-Y EBITDA of ₹ 571 mn PAT of ₹ 102 mn Revenue up by 12% 2 H1-o-H1 EBITDA of ₹ 1,142 mn; Margin at 28.2% Revenue up by 3% 3 Q-o-Q EBITDA constant at ₹ 571 mn Subscription Revenue up by 14% Y-o-Y; up by 1% Q-
Slide 30: Trend: Standalone Financial Performance
Trend : Standalone Financial Performance Revenue (₹ mn) EBIDTA (₹ mn) 2,052 585 571 571 1,991 1,835 Q2 FY18 Q1FY19 Q2 FY19 Q2 FY18 Q1FY19 Q2 FY19 4,044 1,155 1,142 3,617 H1 FY18 H1 FY19 H1 FY18 H1 FY19 29 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3=Oct-Dec, Q4=Jan-Mar , H1=Apr-Sep
Slide 31: Standalone Financials Q2 FY19 (IND AS)
Standalone Financials Q2 FY 19 (IND AS)* Quarterly Half Yearly Annual Particulars (₹ mn) Q2 FY 19 Q1 FY 19 Q-o-Q % Q2 FY18 Y-o-Y % H1FY19 H1FY18 H1-o-H1 % FY'18 Revenue Subscription CATV 1,140 1,128 1% 1,001 14% 2,268 1,903 19% 4,020 Placement 659 608 8% 588 12% 1,267 1,166 9% 2,351 Activation 164 1
Slide 32: Standalone Balance Sheet (IND AS)
Standalone Financials Q2 FY 19 (IND AS)* As on 30th As on 30th As on 31st As on 31st As on 30th As on 30th As on 31st As on 31st ASSETS (₹ mn) LIABILITIES (₹ mn) Sep 2018 Sep 2017 March 2018 March 2017 Sep 2018 Sep 2017 March 2018 March 2017 Non-Current Assets Equity Fixed Assets 6,158 6,279 6,339 6
Slide 33: Break-up Of Finance Cost: Standalone
Break-up Of Finance Cost : Standalone Finance Cost ( ₹ mn) Q2 FY19 Q1 FY19 Q2 FY18 Interest Expense 61 48 72 Loss On Foreign Currency 73 87 7 Total 134 135 79 32 * FY = Apr- Mar, Q1 =Apr-Jun, Q2= Jul-Sep, Q3=Oct-Dec, Q4=Jan-Mar
Slide 34: 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 35: Investor Conference Call Details
Investor Conference Call Details 34
Slide 36: Thank You
Mr. Piyush Pankaj Chief Strategy Officer Email: [email protected] Mr. Ravindra Bhandari/Mr. Mitul Bhagat IR Consultant Contact: 92836 14197 / 87678 77559 Email: [email protected] [email protected] THANK YOU