GMR Power And Urban Infra Limited has informed the Exchange about Investor Presentation
iJQWER & URBAN ~:NFRA
BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400001. Scrip: 543490
Dear Sir/Madam,
August 9, 2022
National Stock Exchange of India Limited Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai - 400051. Symbol: GMRP&UI
Sub: Disclosure under Regulation 30 of SEBI (Listing Obligations and
Disclosure Requirements), Regulations, 2015.
Pursuant to the Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015, please find enclosed herewith the Investor Presentation on the financial results for the quarter ended June 30, 2022.
The presentation www.gmrpui.com
is also being uploaded on
the Company's website
Please take the same on the record.
Thanking you,
for GMR Power and Urban Infra Limited
v~~ Company Secretary &
Compliance Officer
0
DISCLAIMER
All statements, graphics, data, tables, charts, logos, names, figures and all other information (“Contents”) contained in this document (“Material”) is prepared by GMR Power and Urban Infra Limited (“Company”) solely for the purpose of this Material and not otherwise. This Material is prepared as on the date mentioned herein which is solely intended for reporting the developments of the Company to the investors of equity shares in the Company as on such date, the Contents of which are subject to change without any prior notice. The Material is based upon information that we consider reliable, but we do not represent that it is accurate or complete.
Neither the Company, its subsidiaries and associate companies (“GMR Group”), nor any director, member, manager, officer, advisor, auditor and other persons (“Representatives”) of the Company or the GMR Group provide any representation or warranties as to the correctness, accuracy or completeness of the Contents and this Material. the Company to provide a complete or comprehensive analysis or prospects of the financial or other information within the Contents and no reliance should be placed on the fairness on the same as this Material has not been independently verified by any person.
the intention of
is not
It
NONE OF THE COMPANY, THE GMR GROUP AND THE REPRESENTATIVES OF THE COMPANY AND THE GMR GROUP ACCEPT ANY LIABILITY WHATSOEVER FROM ANY LOSS OR DAMAGE HOWSOEVER ARISING FROM ANY CONTENTS OR OTHERWISE ARISING OUT OF OR IN CONNECTION WITH THIS MATERIAL.
is
published
This Material the Company’s website www.gmrpui.com which is subject to the laws of India, and is solely for information purposes only and should not be reproduced, retransmitted, republished, quoted or distributed to any other person whether in whole or in part or for any other purpose or otherwise.
available
and
on
Any reproduction, retransmission, republishing or distribution of this Material or the Contents thereof in certain jurisdictions may be restricted by law and persons who come into possession of this Material should observe such laws and restrictions if any.
This Material and any discussions which follows may contain ‘forward looking statements’ relating to the Company and the GMR Group and may include
statements relating to future results of operation, financial condition, business prospects, plans and objectives, are based on the current beliefs, assumptions, expectations, estimates, and projections of the directors and management of the Company about the business, industry and markets in which the Company and the GMR Group operates and such statements are not guarantees of future performance, and are subject to known and unknown risks, uncertainties, and other factors, some of which are beyond the Company’s or the GMR Group’s control and difficult to predict, that could cause actual results, performance or achievements to differ materially from those in the forward looking statements. Such statements are not, and should not be construed, as a representation as to future performance or achievements of the Company or the GMR Group. In particular, such statements should not be regarded as a projection of future performance of the Company or the GMR Group. It should be noted that the actual performance or achievements of the Company and the GMR Group may vary significantly from such statements. All forward-looking statements are not predictions and may be subject to change without notice.
invitation or is not and does not constitute any offer or This Material recommendation or advise to purchase, acquire or subscribe to shares and other securities of the Company or the GMR Group and not part of this Material shall neither form the basis of or part of any contract, commitment or investment decision nor shall be relied upon as a basis for entering into any contract, commitment or investment decision in relation thereto. Prospective investors in the Company or the GMR Group should make its own investment decisions and seek professional advice including from legal, tax or investment advisors before making an investment decision in shares or other securities of the GMR Group. Remember, investments are subject to risks including the risk of loss of the initial principal amount invested; past performance is not indicative of future results.
the Company or
REGULATORY AUTHORITIES IN THE UNITES STATES OF AMERICA, INDIA, OR OTHER JURISDICTIONS, INCLUDING THE SECURITIES AND EXCHANGE COMMISSION AND THE SECURITIES AND EXCHANGE BOARD OF INDIA (“SEBI”), HAVE NEITHER APPROVED OR DISAPPROVED THIS MATERIAL OR DETERMINED IF THIS MATERIAL IS TRUTHFUL OR COMPLETE. ANY REPRESENTATION TO THE CONTRARY MAY CONSTITUTE A CRIMINAL OFFENSE.
1
Table of Contents
Particulars
Overview
Financial Performance
Energy Business
Pg. No.
3 – 4
5 – 8
9 – 12
Transportation and Urban Infrastructure Business
13 – 18
Strategy and Way Forward
ESG Practices
Annexures
19 –23
24 – 25
27 – 35
2
Snapshot of Businesses
Energy
Highways & EPC
Urban Infra
2 Coal Plants
1,650 MW operational & 350 MW under development
Gas Plants 1,156 MW
Hydro
180 MW operational & 1,425 MW under development
Solar 26 MW
2 Wind Plants
3.4 MW
Coal Mines
1 bn tons+ Coal reserves, total resources ~2.9 bn tons
2 Annuity Projects
133 kms
Special Economic Zone (SEZ) in –
2 Toll Projects
186 kms
Railways
Construction of 417 Km stretch in Eastern DFCC
~1,285 acres in Tamil Nadu land at strategic locations, integrated industrial development
3
Corporate Structure
GMR Power and Urban Infra Ltd. (GPUIL)
53.8%
82%
100%
100%
GMR Energy
Other Energy Assets
GMR Highways Ltd.
Operational Projects
Stake
Operational Projects
Stake
Annuity Projects
Rajahmundry Plant (Gas)
45%
Wind Projects
100%
Pochanpalli
Chennai ORR
Under Development
Stake
BOT (toll) Projects
Talong HPP
99%
Ambala Chandigarh
Special Investment Region
Under Development
Stake
Krishnagiri SIR
100%
Stake
100%
90%
Stake
100%
Warora Plant (Coal)
Kamalanga Plant (Coal)
100%
95.4%
Vemagiri Plant (Gas)
100%
Solar Power Project
Bajoli Holi Project
100%
79.9%
Under Development (Hydro)
Stake
Alaknanda Project
100%
Upper Karnali Project
73%
Hyderabad Vijayawada
90%
Coal Mines (Indonesia)
PT Golden Energy Mines (PT GEMS)
Stake
30%
Note:- Ownership includes both direct & indirect holding
4
Performance Highlights
GPUIL Performance Highlights – Q1FY23
Consolidated Financials1 • Gross Revenues:
▼12% QoQ; ▲22% YoY to INR 10.7 bn in Q1FY23
• EBITDA
▲71% QoQ; ▲66% YoY to INR 1.4 bn in Q1FY23
• Net profit after tax2
Profit of INR 2.0 bn in Q1FY23 vs INR 2.7 bn loss in Q4FY22, INR 1.4 bn loss in Q1FY22
Revenue
EBITDA
INR bn
12.1
10.7
8.8
INR bn
1.4
0.8
0.8
Q1FY22
Q4FY22
Q1FY23
Q1FY22
Q4FY22
Q1FY23
Note: 1. GMR Energy Ltd and PT Gems not consolidated due to Joint Venture structure and are incorporated in the Consol statements of GPUIL using equity method of accounting
2. From continuing operations
6
GPUIL Performance Highlights – Q1FY23
Operational performance
Energy – PLF
o Kamalanga: 81% vs 83% YoY
o Warora: 94% vs 54% YoY
Highways – PCU Traffic growth*
o Bajoli Holi: 50%
o Hyderabad - Vijaywada: ▲41% YoY
o Ambala - Chandigarh: ▲7% QoQ*
Segmental Revenue#
Note: *Toll Collection was suspended from Oct 12, 2020 to Dec 14, 2021 due to Farmer's Agitation in Punjab. Toll collection resumed from Dec 15, 2021
#Energy segment does not include GMR Energy Limited (GEL) as GEL is a Joint Venture
7
Energy53.6%Highways11.3%Others35.1%Net RevenueINR10.2 bn GPUIL Consolidated Debt
Gross & Net Debt (INR bn) ^
Net Debt (Sector-wise) ^ (in INR bn, %age of total)
81
3
78
Others, 5 , 7%
Corporate, 36 , 46%
Highways, 22 , 28%
Gross Debt
Cash & equivalents
Net Debt
Energy, 15 , 19%
Gross debt reduced by INR 3 bn QoQ while net debt remained flat QoQ
Note : FCCB not considered in debt, ^ As on June 30, 2022
8
Energy Business
Key Developments in Q1FY23 – Energy Business
Warora Power Project • Revenue ▲10% QoQ; ▲77% YoY
− PLF at 94% vs. 87% in Q4FY22 and 54% in Q1FY22
• EBITDA ▲19% QoQ; ▲2.8x YoY • Cash profit of INR 1.6 bn vs. INR 393 mn in Q4FY22 and loss of INR 311 mn in Q1FY22 • Resolution plan approvals received from lenders, shareholders and adopted by the Board of
Directors
Kamalanga Power Project • Revenue ▲13% QoQ;▲28% YoY
− PLF at 81% vs.79% in Q4FY22 and 83% in Q1FY22
• EBITDA ▲26% QoQ; ▲72% YoY • Cash profit of INR 2.2 bn vs. INR 1.6 bn in Q4FY22 and INR 778 mn in Q1FY22
Bajoli Holi Hydro Power Project • Revenue at INR 1.1 bn
− PLF at 50%; Project successfully commissioned and achieved COD on March 28, 2022
• EBITDA at INR 793 mn • Cash loss of INR 99 mn
10
GMR Energy Ltd (GEL) - Operational & Financial Highlights YoY
(figures in INR mn)
Note: Considered 100% of Kamalanga financials for GEL Consolidated Proforma ; GMR Energy Limited’s (GEL) is a Joint Venture and is not consolidated in GPUIL results
• GEL Net Debt : INR 87 bn as of June 30, 2022
11
Q1FY2022Q1FY2023Q1FY2022Q1FY2023Q1FY2022Q1FY2023Q1FY2022Q1FY2023Revenue8,68013,5802,5834,5655,7347,330140140EBITDA 2,346 5,471 553 1,546 1,757 3,016 130 130 Interest2,8363,6819451,0241,2711,1974030PAT (1,170) 2,480 (409) 1,344 (29) 1,386 30 20 PLF %54%94%83%81%17%17%SolarParticularsGEL Consolidated Proforma KamalangaWarora Coal Assets - PT GEMS Performance YoY
(figures in INR mn)
• Production ▼11% YoY to 7.9 mn tons in Q1FY23 due to export ban imposed by the government w.e.f
January 1, 2022 for one month. Government lifted the ban from the beginning of February 2022.
• Sales volumes ▼8% YoY in Q1FY23 due to lower production • Realisation ▲54% YoY to USD 63.4/ton in Q1FY23 from USD 41.1/ton in Q1FY22 due to increase in
the global coal prices
• EBITDA per ton increased to USD 21.4/ ton in Q1FY23 from USD 14.6/ ton in Q1FY22 - ▲USD
6.8/ton YoY, due to higher realization
• Cash balance is at INR 17.3 bn at the end of Q1FY23
Significant Improvement in Indonesian coal prices have resulted in better profitability
Paid USD 110 mn in January 2022. Paid additional dividend of USD 145 mn in June 2022
Note: 1. Financials at 100% level and considered at a lag of 3 months for GPUIL Consolidated results;
Considered INR/ USD of 73.2 in Q1FY22, 74.5 in Q4FY22, 75.3 in Q1FY223 for Profit and Loss Statement; 75.8 for Balance Sheet
12
Q1FY2022Q1FY2023Sales Vol. (mn tons)9.38.5Revenues27,89940,569EBITDA9,92113,701PAT7,35510,206Particulars1Golden Energy Mines Transportation and Urban Infrastructure Business (T&UI)
Highway Business - Key Developments
Hyderabad Vijayawada Project • Traffic ▲5% QoQ; ▲41% YoY to 11.8 Mn PCUs in Q1FY23
− On February 28, 2022, Sole Arbitrator has released his report on the claim quantification under
Change-in-Law and awarded gross claim of INR 16.7 bn
− Report submitted by Sole Arbitrator was taken on record and the matter is listed for hearing
before Delhi High Court
Ambala Chandigarh Project • Traffic was impacted due to farmer’s agitation from October 12, 2020 until December 14, 2021 − Declared Force Majeure (FM) under the Concession Agreement (CA) and has notified NHAI − As per the CA, SPV is entitled to compensation for FM event by way of extension in concession
period, reimbursement of O&M cost, etc.
− Claim for FM (upto September 30, 2021) has been filed. SPV has received adhoc payment from NHAI. Balance claim amount is under verification and is expected to be received in due course
14
Highway Business - Key Developments
Chennai ORR Project • GCORR received an award of INR 3.4 bn plus interest against Government of Tamil Nadu (GoTN)
which was challenged by GOTN in Madras High Court − Single Bench, Madras High Court upheld Tribunal Award and dismissed the challenge of GoTN − Further, High Court awarded 9% p.a. interest on pre-award claim − SPV has filed the execution petition in High Court to realize the decretal amount and was taken
up in the Court during June 2022. The matter is adjourned for August 2022.
Pochanpalli Project • SPV challenged Arbitral Tribunal’s award in Delhi High Court, on the interpretation of the Major Maintenance Clause (as per Concession Agreement) and rejection of claims for reimbursement of Major Maintenance cost incurred by the SPV − Delhi High Court in its order (April 2022) held that SPV is entitled to reimbursement of Major Maintenance cost incurred as the same was not warranted since the roughness index of Project Highway was below 2000 mm/km (which is permissible as per Concession Agreement)
− Delhi High Court also directed NHAI to release wrongly deducted annuity amount (along with
interest) to SPV
− SPV will undertake Major Maintenance on the Project Highway as and when roughness index
goes beyond permissible threshold instead of every 5 years period
15
Highway Business Assets Performance YoY
(figures in INR mn)
Note: 1. In Ambala Chandigarh Project, Toll collection was suspended from October 12, 2020 to December 14, 2021 due to farmer's agitation in Punjab
Toll collection resumed from December 15, 2021
2. In Hyderabad Vijayawada Project, the revenue shown is the net revenue after setting off the NHAI’s revenue share from project’s toll revenue
16
Q1FY2022Q1FY2023Q1FY2022Q1FY2023Q1FY2022Q1FY2023Q1FY2022Q1FY2023Revenue4416520170256134213193EBITDA 360 543 (50) 113 84 67 150 131 Interest66166716014297108202184PAT (453) (354) (211) (174) 52 44 (49) 128 Traffic (mn PCU) 8.4 11.8 - 4.8 - - - - ParticularsHyderabad-VijaywadaAmbala - ChandigarhGPELChennai ORR Urban Infrastructure – Potential to Unlock Value
Krishnagiri Special Investment Region: ~1,285 Acres • ~110 acres under discussion for sale to an agency of Tamil Nadu Govt. • Next phase of development being planned for ~270 acres under Joint Venture with TIDCO2 • Industrial cluster catering to electronics, automobile, logistics, engineering and aerospace sectors
Kakinada Special Investment Region: ~10,400 Acres • Completed the divestment and received first tranche considerations
− Received INR 16.9 bn out of the total consideration of INR 27.2 bn − Additionally, INR 10.3 bn is to be received in next 2-3 years which is contingent upon certain
agreed milestones
Note: 1 Kakinada SEZ Limited
2 Tamil Nadu Industrial Development Corporation – TIDCO is a Government agency in the state of Tamil Nadu, India
17
EPC in Dedicated Freight Corridor Projects
DFCC’s Project Network
GMR’s Scope and Highlights
Kanpur
GMR’s stretch of work
Mughalsarai
• Dedicated Freight Corridor is INR 820 bn project undertaken by DFCCIL (a wholly owned public sector undertaking of Ministry of Railways)
• Corridor under construction - Eastern (Ludhiana
to Kolkata) & Western (Dadri to Mumbai)
• GMR along with JV partner has been awarded contract to construct a part of the DFC Eastern Corridor:
GMR’s Scope
Length (KMs)
Contract Value (INR Bn)
Mughalsarai to New Karchana (UP)
New Karchana to New Bhaupur (UP)
TOTAL
181
236
417
24.2
26.6
50.8
• Above section of the project is fully funded by World Bank - no anticipatory revenue risk
Status update • Construction Progress: Physical progress of ~84% for package 201 and ~93% for package 202 is
completed as of June 30, 2022
• Presently, approved project completion timelines is until December 2022
18
Strategy and Way Forward
India’s Energy Sector is Undergoing a Paradigm Shift
A
Renewables: Sharp growth expected in upstream renewable generation
B EV Infrastructure: Exponential growth in charging stations as
EV penetration grows
175 GW
Target for 2022
500 GW
Target for 2030
Rooftop Solar 40 GW
Utility Solar 60 GW
Wind 60 GW
Others 15 GW
100%+ CAGR
2.5-3k
80-100k
# charging stations (2021)
Projection (2025)
Central & state governments providing strong tailwinds through subsides, fast-track clearance, mandatory %EV in fleets, etc.
C
Green Hydrogen: India to become major hub for Green Hydrogen production and exports
2050 Green H2 projections
Cost of Green H2 expected to decrease significantly
20 MT
~ $4/kg
~ $2/kg
(FY20)
(FY50)
D
Distribution & Smart metering: High potential as focus on reducing AT&C loses via private sector participation and deploying smart meter continues
n o i t u b i r t s i D
e s i h c n a r F
2020 market size
$95B
2020 Share of private players
7-8%
45% Europe & Central Asia
t r a m S
g n i r e t e M
25 Cr by 2025
(Govt. ambition)
National Green Hydrogen Policy with 10-20% target green hydrogen consumption in select sectors already launched
Poor financials for State discoms private sector participation getting promoted by government; upcoming Electricity Amendment Bill to delicense sector
Power trading expected to grow by 2X to become a $13B+ industry by 2026 Other green energy businesses (EEaS, CCUS, etc.) also expected to mirror sharp growth seen in
developed markets
Sources: IHS, Niti Aayog, TERI, etc.; EEaS = Energy Efficiency as a Service; CCUS = Carbon Capture, Utilization and Storage
20
We Aim to be a Top Tier Cognitive Intuitive Clean Energy Company
3 pillars of our strategy going forward
Enhance value of our existing businesses
• Aim for higher
utilization of asset & efficiency improvement measures
• Tie up open capacities - innovative PPA models including RTC
• Operational efficiency improvement of thermal plants
• Operationalize gas
assets
Create value in exciting adjacent areas
• Embrace technology led
• Selectively foray into
solutions
customer facing businesses
• Scale power trading
business by offering new products & services, diversify customer base
• Enhance value through differentiated service offerings using new-age technology solutions
Nurture & develop new opportunities in the green ecosystem
• Continue focus on hydro & explore additional opportunities like hybrid power solutions
•
•
Explore distributed segments like electric mobility & storage solutions
Enhanced focus on carbon neutrality as a service
21
To Operationalise the Strategy We Envision to Follow 5 Overarching Principles
Principles
`
High focus on innovative, asset- light, platform-based and technology- oriented business models
Deploy efficient capital structure and access green financing
Enter strategic partnerships with global reputed majors and institutes of excellence
`
Invest in emerging start-ups in cleantech ecosystem where there are potential synergies
Build on our group’s strengths and leverage infrastructure assets and businesses of the group as a launch pad for new offerings
22
Clearly Defined Strategies to Capitalize on the Attractive Industry Prospects
Highways
Expedite the receipt of arbitration claims Monetize the existing assets in phase wise manner
Krishnagiri SIR
Conclude the current monetization efforts:
~ 110 acres under discussion for sale to an agency of Tamil Nadu Govt. Next phase of development being planned for ~270 acres under Joint
Venture with TIDCO
Target Industrial players in electronics, automobile, logistics, and
engineering sectors
EPC
Grow on asset light mode through railways EPC Continue growing the order book Participation in railway stations development bids through PPP
23
ESG Practices
ESG - GPUIL
Environment
Profits
• GWEL plant certified for Quality (ISO 9001), Energy (ISO 55001) and Water (ISO 45001). GKEL is certified for ISO 14001 and ISO 50001
• GWEL celebrated Environment Day by organizing Awareness Campaign in School & Colleges, Undertaken mass plantation (5000 Nos.) inside plant. GKEL quantifies Carbon sequestration from plantation initiatives
• GKEL has taken initiatives to reduce water consumption required for the plant process by 33% in last 8 years. The plant has also increased Ash utilization to 122%
• GWEL has taken many initiatives to reduce scope-3 GHG emission
• GWEL bagged Gold award – Sharva Shresta Suraksha Puraskar
award -2021 from M/s National Safety Council of India
• DFCC has an ISO 14001 certified Environmental Management
System (EMS)
• Highways sector have adopted measures to reduce energy consumption by converting conventional HPSV streetlights to LED • Trial of plastic mix overlay for road major maintenance carried out for improving durability. Saving of natural resources by using recycled in maintenance and method like Hot maximizing Recycling during upgradation
in place recycled (HIPR)
People
• Learning and Development
There were 47 business/corporate trainings conducted in Q1FY23
apart from plant specific trainings
3938 work hours of
training provided covering 519 unique permanent employees in the Q1FY23. 35% male and 47% female employees have already undergone at least one training in Q1
CSR Spend (Q1FY23) - INR 4.2 mn Total beneficiaries - Over 30,000
• CSR activities implemented in the thrust areas of Education, Health
and Livelihoods
• CSR Activities at GMR Warora Energy Ltd. (GWEL) received ISO
26000 certification
• Considering the onset of monsoon,
farmers at different project locations were supported with sugar free and kuber variety paddy seeds, vegetable seeds etc.
• Support to fish farming and Azolla farming is being provided at
Kamalanga (GKEL)
• Several health camps and health awareness programs organized from supporting Govt. school students with workbooks,
apart notebooks etc.
Governance
• Strict governance principles through guided values of
the
organization and all the secretarial compliances in place
•
Internal audits, MAG audits keep processes very transparent
• Regular Board meetings conducted to keep Board updated on all
aspects
• Periodic training of employees on the CoC guidelines
• Risk management framework and governance process, including
SOPs around risk assessment and mitigation
25
Thank You
For further information, please visit
Website: www.gmrgroup.in or
Contact: investor.relations@gmrgroup.in
Annexures
Annexures
Particulars
Profitability Statement (Consolidated)
Financial Performance
•
Energy Sector (Consolidated)
• Warora (Standalone)
•
•
•
Kamalanga (Standalone)
Bajoli Holi (Standalone)
PT GEMS (Indonesian Coal Mine)
• Highways Sector (Consolidated)
No.
A
B
C
D
E
F
G
28
Annexure A : GPUIL (Consolidated)
29
INR mnQ1FY2022Q4FY2022Q1FY2023Gross Revenue8,756 12,110 10,687 Less: Revenue Share313 412 483 Net Revenue8,444 11,698 10,204 Total Expenditure7,598 10,880 8,801 EBITDA846 819 1,403 EBITDA margin10%7%14%Other Income435 610 947 Interest & Finance Charges3,309 3,460 3,237 Depreciation244 438 472 PBT before exceptional items(2,272) (2,470) (1,358) Exceptional Income/(Expense)- (1,579) - PBT(2,272) (4,049) (1,358) Tax63 448 69 Profit after Tax (PAT)(2,334) (4,497) (1,427) Add: Share in Profit / (Loss) of JVs / Associates 962 1,772 3,443 PAT from Continuing Operations(1,373) (2,725) 2,017 Add: Profit / (Loss) from Discontinued (5) (0) (0) Add: Other Comprehensive Income (OCI)(159) (114) 320 Total Comprehensive Income(1,537) (2,839) 2,337 Less: Minority Interest (MI)(137) (583) (90) Total Comprehensive Income (Post MI)(1,400) (2,256) 2,427 Annexure B : Energy Business (Consolidated)
30
INR mnQ1FY2022Q4FY2022Q1FY2023Gross Revenue4,467 6,698 5,473 Operating Expenditure4,465 6,988 5,382 EBITDA2 (290) 91 EBITDA margin0%-4%2%Other Income171 131 43 Interest & Fin Charges583 697 537 Depreciation9 13 7 Exceptional Income/(Expense)0 (1,493) 0 PBT(419) (2,362) (411) Taxes45 508 51 Profit after Tax (PAT)(465) (2,871) (461) Add: Share in Profit / (Loss) of JVs / 961 1,772 3,442 PAT (After share in JVs/Associates)496 (1,099) 2,981 Annexure C : Warora (Standalone) Power Plant
Note: Financials are at 100% level
31
INR mnParticularsQ1FY2022Q4FY2022Q1FY2023Total Revenue2,583 4,168 4,565 Fuel - Consumption1,535 2,348 2,583 Other Expenses 495 523 435 EBITDA553 1,297 1,546 EBITDA margin21%31%34%Other Income81 53 236 Interest & Finance Charges945 957 1,024 Depreciation293 291 293 Exceptional Income/(Expense)- - 879 PBT(604) 102 1,344 Taxes(195) - - PAT(409) 102 1,344 Annexure D : Kamalanga (Standalone) Power Plant
Note: Financials are at 100% level
32
INR mnFYParticularsQ1FY2022Q4FY2022Q1FY2023Total Revenue5,734 6,488 7,330 Fuel - Consumption2,909 2,950 3,261 Other Expenses 1,069 1,144 1,052 EBITDA1,757 2,394 3,016 EBITDA margin31%37%41%Other Income293 360 368 Interest & Finance Charges1,271 1,202 1,197 Depreciation805 792 801 Exceptional Income/(Expense)- - - PBT(27) 760 1,386 Taxes2 - - PAT(29) 760 1,386 Annexure E : Bajoli Holi (Standalone) Power Plant
Note: Financials are at 100% level
33
INR mnParticularsQ1FY2022Q4FY2022Q1FY2023Total Revenue- 7 1,080 Fuel - Consumption- 127 Other Expenses - 36 160 EBITDA- (29) 793 EBITDA margin0%-417%73%Other Income- 24 Interest & Finance Charges- 916 Depreciation- 173 Exceptional Income/(Expense)- (1,139) PBT- (1,168) (271) Taxes- (0) PAT- (1,168) (271) Annexure F : PT GEMS (Indonesian Coal Mine)
Note: Financials are at 100% level; GMR owns 30% stake
34
INR mnParticularsQ1FY2022Q4FY2022Q1FY2023Production (mn tons)8.9 7.0 7.9 Sales Volumes (mn tons)9.3 6.6 8.5 Gross Revenue27,899 39,354 40,569 Total Expenditure17,977 24,240 26,869 EBITDA9,921 15,113 13,701 EBITDA margin36%38%34%Interest & Finance Charges (net)168 158 218 Depreciation287 325 317 PBT9,467 14,631 13,165 Taxes2,112 3,181 2,959 PAT7,355 11,450 10,206 Annexure G : Highway Business (Consolidated)
35
INR mnQ1FY2022Q4FY2022Q1FY2023Gross Revenue1,222 1,474 1,632 Less: Revenue Share313 412 483 Net Revenue909 1,062 1,149 Operating Expenses359 282 271 EBITDA550 780 878 EBITDA margin61%73%76%Other Income19 114 223 Interest & Finance Charges1,145 1,094 1,137 Depreciation154 343 380 Exceptional Income/(Expense)- - - PBT(729) (543) (416) Taxes18 (23) 12 Profit after Tax (PAT)(747) (520) (428)