Gmr Power And Urban Infra Limited has informed the Exchange about Investor Presentation
May 23, 2023
National Stock Exchange of India Ltd. Exchange Plaza, Plot no. C/1, G Block, Bandra-Kurla Complex, Bandra (E) Mumbai - 400051 Symbol: GMRP&UI
BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai 400001 Scrip: 543490
Dear Sir/Madam,
Sub: Investor Presentation
Ref: Disclosure under Securities and Exchange Board of India (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/ year ended March 31, 2023.
The presentation is also being uploaded on the Company's website www.gmrpui.com
Request you to please take the same on record.
Thanking you,
for GMR Power and Urban Infra Limited
Vimal Prakash Company Secretary & Compliance Officer
Encl: As above
GMR Power & Urban Infra Limited
Corporate Office: New Udaan Bhawan, Opp. Terminal 3, Indira Gandhi International Airport, New Delhi - 110 037 Registered Office: Plot No. C-31, G Block, 701, 7th Floor, Naman Centre, Bandra Kurla Complex (Opp. Dena Bank), Bandra (East), Mumbai - 400 051
CIN L45400MH2019PLC325541 T +91 11 42532600 F +91 11 47197181 E gpuil.cs@gmrgroup.in W www.gmrpui.com
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
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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
Highlights of Q4FY23
Financial Performance
- Energy Business
- Transportation and Urban Infrastructure Business
Strategy and Way Forward
ESG Practices
Annexures
Pg. No.
3 – 4
5
6 – 9
10 – 13
14 – 18
19 –22
23 – 24
26 – 33
2
Snapshot of Businesses
Energy
Highways & EPC
Urban Infra
➢Solar → 26 MW
➢2 Wind Plants →
3.4 MW
➢ 2 Coal Plants → Operational 1,650 MW
Under-development 350 MW
➢ Gas Plants → 1,156 MW
➢ Hydro →
180 MW operational & 1,425 MW under development
➢2 Annuity Projects →
133 kms
Special Economic Zone (SEZ)
➢2 Toll Projects →
216 kms
➢Railways →
Construction of ~417 kms stretch of DFC in UP for DFCCIL - part of Eastern Corridor
➢~1,150 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
Hyderabad Vijayawada
90%
Special Investment Region
Under Development
Stake
Krishnagiri SIR
100%
Stake
100%
90%
Stake
100%
Warora Plant (Coal)
Kamalanga Plant (Coal)
92.0%
97.6%
Vemagiri Plant (Gas)
100%
Solar Power Project
Bajoli Holi Project
100%
79.9%
Under Development (Hydro)
Stake
Alaknanda Project
100%
Upper Karnali Project
73%
Note: Ownership includes both direct & indirect holding
4
Key Highlights – Q4FY23
Operational Performance
• Achieved PLF of 91% and 89% in Warora and Kamalanga respectively against an All India
FY22 – Key Business highlights
Average PLF of 61%
• Average Daily Traffic in Hyderabad Vijaywada and Ambala Chandigarh increased by 9%
and 0.4% YoY respectively
Progress on Regulatory Dues in Energy Assets
• Supreme Court allowed GMR’s appeals with respect to State Electricity Boards (DNH,
MSEDCL and Bihar) paving way for realization of substantial regulatory dues
Significant Progress in Highway Projects Arbitration
• GCORR:
✓ Supreme Court has limited the SLP (filed by GoTN) to the extent of Pre-award claim awarded by Madras High Court, and rest of the award pronounced by Tribunal and Madras High Court has attained finality
✓ Received claim amount of INR 5.1 bn in March 2023
Note : 1. Special Leave Petition, 2. Government of Tamil Nadu
5
Performance Highlights
GPUIL Performance Highlights
Consolidated Financials1 • Gross Revenues
✓ FY23:▲35% YoY to INR 55.3 bn ✓ Q4FY23:▼1% QoQ; ▲18% YoY to INR 14.3 bn
• EBITDA
✓ FY23:▼21% YoY to INR 3.9 bn ✓ Q4FY23:▼58% QoQ; ▼29% YoY to INR 578 mn
• Net profit after tax2
✓ FY23: Profit of INR 11.4 bn vs. loss of INR 6.5 bn in FY22 ✓ Q4FY23:Loss of INR 4.7 bn vs INR 3.4 bn gain in Q3FY23, INR 2.7 bn loss in Q4FY22
FY23
Q4FY23
Revenue
INR bn
55.2
41.0
INR bn
EBITDA
5.0
3.9
12.1
INR bn
Revenue
14.5
14.3
INR bn
EBITDA
1.4
0.8
0.6
FY22
FY23
FY22
FY23
Q4FY22 Q3FY23 Q4FY23
Q4FY22 Q3FY23 Q4FY23
Note: 1. GMR Energy Ltd is not consolidated due to JV structure and is incorporated in the Consol statements of GPUIL using equity method of accounting
2. From continuing operations
7
GPUIL Performance Highlights
FY23 Operational Performance
Q4FY23 Operational Performance
Energy – PLF
o Warora: 82% vs 66% YoY
o Kamalanga: 77% vs 82% YoY
o Bajoli Holi: 27%
Energy – PLF
o Warora: 91% vs 87% YoY
o Kamalanga: 89% vs 79% YoY
o Bajoli Holi: 5%
Highways – Average Daily Traffic growth
o Hyderabad - Vijaywada:
▲14% YoY
o Ambala - Chandigarh:
▼0.3% YoY
Highways – Average Daily Traffic growth
o Hyderabad - Vijaywada:
▲9% YoY
o Ambala - Chandigarh:
▲0.4% YoY
Segmental Revenue - FY23#
Segmental Revenue – Q4FY23#
Note: #Energy segment does not include GMR Energy Limited (GEL) as GEL is a Joint Venture
8
Energy65.1%Highways8.7%Others26.2%Net RevenueINR53.3 bnEnergy70.3%Highways9.2%Others20.5%Net RevenueINR13.8 bn GPUIL Consolidated Debt
Gross & Net Debt (INR bn) ^
Net Debt (Sector-wise) ^ (in INR bn, %age of total)
60
11
Others, 4 , 9%
49
Corporate, 25 , 51%
Gross Debt
Cash & equivalents
Net Debt
Energy, 2 , 3%
Highways, 18 , 37%
Net debt reduced by ~INR 1.5 bn QoQ
Note : ^ As on March 31, 2023
FCCB not considered in debt; Energy segment does not include GMR Energy Limited (GEL) as GEL is a Joint Venture
9
Energy Business
Key Developments in FY23 – Energy Business
Warora Power Project • Revenue ▲26% YoY
− PLF at 82% vs. 66% in FY22
• EBITDA ▲31% YoY • Cash profit of INR 1.9 bn vs. INR 495 mn in FY22
Kamalanga Power Project • Revenue ▲23% YoY
− PLF at 77% vs. 82% in FY22
• EBITDA ▲11% YoY • Cash profit of INR 6.1 bn vs. INR 4.6 bn in FY22
Bajoli Holi Hydro Power Project • Revenue INR 2.7 bn
− PLF at 27%
• EBITDA of INR 1.7 bn • Cash loss of INR 1.9 bn
11
Key Developments in Q4FY23 – Energy Business
Warora Power Project • Revenue ▲11% QoQ; ▲15% YoY
− PLF at 91% vs. 89% in Q3FY23 and 87% in Q4FY22
• EBITDA ▼12% QoQ; ▼20% YoY • Cash profit of INR 511 mn vs. INR 806 mn in Q3FY23 and INR 393 mn in Q4FY22
Kamalanga Power Project • Revenue ▼7.8% QoQ;▲15% YoY
− PLF at 89% vs. 75% in Q3FY23 and 79% in Q4FY22
• EBITDA ▲8% QoQ; ▼1% YoY • Cash profit of INR 1.7 bn vs. INR 1.2 bn in Q3FY23 and INR 1.6 bn in Q4FY22
Bajoli Holi Hydro Power Project • Revenue ▼78% QoQ
− PLF at 5% vs. 18% in Q3FY23
• EBITDA loss of INR 237 mn vs profit of INR 142 mn in Q3FY23 • Cash loss of INR 1.2 bn vs. loss of INR 0.8 bn in Q3FY23
12
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 78 bn as of March 31, 2023
13
Q4FY22Q4FY23Q4FY22Q4FY23Q4FY22Q4FY23Q4FY22Q4FY23Q4FY23Revenue11,72013,0104,1684,7736,4887,46316016063EBITDA 3,687 3,222 1,297 1,037 2,394 2,363 120 120 (237)Interest2,7783,5659576361,2021,3466020943PAT 1,820 890 102 243 760 937 0 40 (1,170)PLF %87%91%79%89%18%17%5%FY22FY23FY22FY23FY22FY23FY22FY23FY23Revenue40,61052,08012,99416,34524,64830,2216106002,716EBITDA 11,633 15,871 3,235 4,234 8,326 9,236 430 440 1,716 Interest11,16613,7833,8282,9545,0084,851140903,659PAT (2,580) 3,370 (487) 1,679 1,415 2,859 70 110 (2,100)PLF %66%82%82%77%16%16%27%WaroraParticularsSolarBajoli HoliGEL Consolidated Proforma Kamalanga Transportation and Urban Infrastructure Business (T&UI)
Highway Business - Key Developments
Hyderabad Vijayawada Project • Average Daily Traffic: FY23 ▲14% YoY; Q4FY23 ▲7% QoQ and ▲9% YoY
− Sole Arbitrator has released report on the claim quantification under Change-in-Law and
awarded gross claim of INR 16.72 bn
− Report submitted by Sole Arbitrator was taken on record and the matter is in progress before
Delhi High Court
Ambala Chandigarh Project • Average Daily Traffic: FY23 ▼0.3% YoY; Q4FY23 ▲3% QoQ and ▲0.4% YoY • Received extension in concession period of 429 days along with claim of INR 87 mn on account of Farmer’s Strike Force Majeure event occurred during October 12, 2020 to December 14, 2021
Chennai ORR Project • Received arbitration award of INR 5.1 bn
Pochanpalli Project • Delhi High Court (HC) upheld the interpretation of the Company on frequency of Major Maintenance • Order is under challenge by NHAI in the Division Bench of Delhi HC. Arguments are under progress
15
Highway Business Assets Performance YoY
(figures in INR mn)
Note: 1.
2.
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 In Hyderabad Vijayawada Project, the Revenue shown is the Net Revenue after setting off the NHAI’s revenue share
16
Q4FY22Q4FY23Q4FY22Q4FY23Q4FY22Q4FY23Q4FY22Q4FY23Revenue579668159184125225199187EBITDA 473 519 80 110 (13) (69) 136 112 Interest676703166114100106196186PAT (407) (219) (221) (86) 10 312 (58) (60)Avg. Daily Traffic ('000) 23.9 26.1 37.9 38.0 - - - - FY22FY23FY22FY23FY22FY23FY22FY23Revenue2,1302,581190715631578853761EBITDA 1,763 2,135 (63) 476 218 118 621 497 Interest2,7352,768660513415423775750PAT (1,710) (1,337) (883) (363) 163 440 (141) 414 Avg. Daily Traffic ('000) 21.8 24.8 38.1 38.0 - - - - ParticularsHyderabad-VijaywadaAmbala - ChandigarhGPELChennai ORR Urban Infrastructure – Potential to Unlock Value
Krishnagiri Special Investment Region: ~1,150 Acres • ~161 acres under discussion for sale to an agency of Tamil Nadu Govt. • Next phase of development being planned for ~210 acres under Joint Venture with TIDCO1 • Industrial cluster catering to electronics, automobile, logistics, engineering and aerospace sectors • In discussion with various other parties for sale of lands
Note: 1. 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 of ~450 kms
GMR’s Scope
Mughalsarai to New Karchana
New Karchana to New Bhaupur
Contract Package
201
202
• Project is funded by World Bank
Status update • Construction Progress: Physical progress of ~93.55% for package 201 and ~96.60% for package
202 is completed as of March 31, 2023
18
Strategy and Way Forward
Maximizing value of existing assets & Building a Top Tier tech enabled Clean Energy business
3 pillars of our strategy going forward
Enhance Value of existing businesses
• Aim for higher utilization of existing assets & efficiency improvement measures
• Tie-up open capacities through
innovative PPA models including RTC
• Operationalize gas assets
Nurture & Develop opportunities in Green Ecosystem
• Continued focus on hydro
• Clean energy solution for Commercial & Industrial segment
Create Value in Adjacent Areas
• Opportunities in distributed
• Technology oriented
Asset Light opportunities
• Selectively foray into customer facing businesses
• Scale power trading
business
• Differentiated service offerings using new- age technology solutions
segments like electric mobility & storage solutions
• Energy efficiency as a service
• Forge technology & strategic
partnerships and access green financing
20
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
21
Clearly Defined Strategies to Capitalize on the Attractive Industry Prospects
Highways
⚫ Expedite receipt / settlement of pending operational and litigation claims ⚫ Monetize the existing assets
Krishnagiri SIR
⚫ Conclude current monetization efforts:
o ~161 acres under sale to agency of Tamil Nadu Govt. in FY24 o Next phase of development being planned for ~210 acres
⚫ Target Industrial players in electronics, automobile, logistics, and
engineering sectors
⚫ In discussion with various other parties for sale of lands
EPC
⚫ Continue growing the order book ⚫ Participation in railway stations development bids through PPP
22
ESG Practices
ESG
Environment
Social
• GKEL, GWEL and Bajoli Holi are ISO 14001 certified Environmental
Management System
• GKEL and GWEL have ISO 50001 in place
• Both GKEL and GWEL Completed Green House Gas emission verification ISO 14064 international standard for Carbon emission
audit as per disclosure.
CSR Spend (Q4FY23) - INR 8.94 mn Total beneficiaries - Over 75,000
• CSR activities implemented in areas of Education, Health and Livelihoods
• GKEL received Odisha CSR Excellence Award
• GKEL got certified for ISO 26000, CSR standard by Bureau Veritas
• GKEL quantifies carbon sequestration from plantation initiatives while
• GCORR received district level award for best community service
GWEL is in process of doing
• Biodiversity measures in terms of tree plantation and landscaping adopted
at all 3 Plants – GKEL, GWEL & Bajoli Holi
• Road Safety Week was commemorated from 11th -17th January in all road
project locations with awareness programs for over 20000 road users
• System of Wheat Intensification project initiated with over 150 farmers at
• GWEL has implemented Water Efficiency Management System (ISO
Warora in partnership with NABARD
46001).
• GWEL & GKEL have taken initiatives to reduce water consumption required for the Plant process and respectively 40% and 33% reduction achieved in last 8 Years.
• DFCC has an ISO 14001 certified Environmental Management System
• Highways sector have adopted measures to reduce energy consumption by
converting conventional HPSV streetlights to LED
• Plastic mix overlay (eco-friendly method)
road major maintenance carried out for improving durability. Saving of natural resources by using recycled method like Hot in Place Recycled in maintenance and maximizing recycling during upgradation
for
Note : 1. GKEL is GMR Kamalanga Energy Ltd, 2. GWEL is GMR Warora Energy Ltd.
• Eye check-up camps for drivers community organized at Dappar, CORR
locations with support from Chetak Foundation and local NGOs
• Learning and Development ✓ 54 business/corporate trainings conducted in Q4FY23 apart from plant specific
People
trainings
✓ 11,310 work hours of
training provided covering 1198 unique permanent employees in the Q4FY23. 24% male and 28% female employees have undergone at least one training in Q4FY23
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
24
Thank You
For further information, please visit
Website: www.gmrpui.com or
Contact: GPUIL–IR@gmrgroup.in
Annexures
Annexures
Particulars
Profitability Statement (Consolidated)
Financial Performance
•
Energy Sector (Consolidated)
• Warora (Standalone)
•
•
Kamalanga (Standalone)
Bajoli Holi (Standalone)
• Highways Sector (Consolidated)
No.
A
B
C
D
E
F
27
Annexure A : GPUIL (Consolidated)
28
INR mnQ4FY22Q3FY23Q4FY23FY22FY23Gross Revenue12,111 14,474 14,279 41,018 55,247 Less: Revenue Share412 477 496 1,516 1,915 Net Revenue11,698 13,998 13,783 39,502 53,332 Total Expenditure10,880 12,616 13,204 34,547 49,404 EBITDA819 1,381 578 4,955 3,928 EBITDA margin7%10%4%13%7%Other Income610 561 1,706 1,799 3,676 Interest & Finance Charges3,460 2,893 3,265 13,545 13,503 Depreciation438 360 217 1,282 1,514 PBT before exceptional items(2,470) (1,311) (1,198) (8,073) (7,412) Exceptional Income/(Expense)(1,579) 5,244 (2,061) 151 12,319 PBT(4,049) 3,933 (3,259) (7,922) 4,907 Tax448 (1) (5) 1,055 927 Profit after Tax (PAT)(4,497) 3,934 (3,254) (8,977) 3,980 Add: Share in Profit / (Loss) of JVs / Associates 1,772 (541) (1,455) 2,462 7,415 PAT from Continuing Operations(2,725) 3,393 (4,708) (6,515) 11,394 Add: Profit / (Loss) from Discontinued Operations(0) (1) (1) (0) (2) Add: Other Comprehensive Income (OCI)(114) 513 263 56 1,804 Total Comprehensive Income(2,838) 3,905 (4,446) (6,460) 13,196 Less: Minority Interest (MI)(583) (182) 40 (24) (324) Total Comprehensive Income (Post MI)(2,256) 4,087 (4,486) (6,436) 13,520 Annexure B : Energy Business (Consolidated)
29
INR mnQ4FY22Q3FY23Q4FY23FY22FY23Gross Revenue6,698 10,331 9,692 21,751 34,732 Operating Expenditure6,988 10,278 9,837 21,721 35,490 EBITDA(290) 53 (145) 30 (758) EBITDA margin-4%1%-1%0%-2%Other Income131 26 578 693 706 Interest & Fin Charges697 247 492 2,403 2,815 Depreciation13 7 15 52 37 Exceptional Income/(Expense)(1,493) (434) (963) 3,237 7,740 PBT(2,362) (609) (1,037) 1,506 4,836 Taxes466 (9) (47) 1,055 846 Profit after Tax (PAT)(2,828) (600) (990) 450 3,990 Add: Share in Profit / (Loss) of JVs / Associates 1,772 (541) (1,463) 2,459 7,405 PAT (After share in JVs/Associates)(1,056) (1,141) (2,453) 2,910 11,394 Annexure C : Warora (Standalone) Power Plant
Note: Financials are at 100% level
30
INR mnParticularsQ4FY22Q3FY23Q4FY23FY22FY23Total Revenue4,168 4,313 4,773 12,994 16,345 Fuel - Consumption2,348 2,694 3,125 7,733 10,162 Other Expenses 523 437 611 2,026 1,949 EBITDA1,297 1,182 1,037 3,235 4,234 EBITDA margin31%27%22%31%26%Other Income53 267 109 1,088 635 Interest & Finance Charges957 644 636 3,828 2,954 Depreciation291 270 268 1,177 1,094 Exceptional Income/(Expense)- - 0 - 857 PBT102 536 243 (682) 1,679 Taxes- - - (195) - PAT102 536 243 (487) 1,679 Annexure D : Kamalanga (Standalone) Power Plant
Note: Financials are at 100% level
31
INR mn9MParticularsQ4FY22Q3FY23Q4FY23FY22FY23Total Revenue6,488 8,090 7,463 24,648 30,221 Fuel - Consumption2,950 4,696 4,084 11,959 16,806 Other Expenses 1,144 1,198 1,016 4,364 4,179 EBITDA2,394 2,196 2,363 8,326 9,236 EBITDA margin37%27%32%34%31%Other Income360 188 717 1,319 1,713 Interest & Finance Charges1,202 1,168 1,346 5,008 4,851 Depreciation792 823 797 3,219 3,239 Exceptional Income/(Expense)- - - - - PBT760 394 937 1,417 2,859 Taxes- - - 2 - PAT760 394 937 1,415 2,859 Annexure E : Bajoli Holi (Standalone) Power Plant
Note: Financials are at 100% level
32
INR mnParticularsQ3FY23Q4FY23FY23Total Revenue282 63 2,716 Fuel - Consumption- - - Other Expenses 140 301 1,000 EBITDA142 (237) 1,716 EBITDA margin50%-63%Other Income6 1 41 Interest & Finance Charges940 943 3,659 Depreciation173 242 760 Exceptional Income/(Expense)- - PBT(965) (1,421) (2,662) Taxes(313) (250) (563) PAT(652) (1,170) (2,100) Annexure F : Highway Business (Consolidated)
33
INR mnQ4FY22Q3FY23Q4FY23FY22FY23Gross Revenue1,474 1,604 1,760 5,319 6,550 Less: Revenue Share412 477 496 1,516 1,915 Net Revenue1,062 1,128 1,264 3,803 4,635 Operating Expenses282 237 410 995 1,219 EBITDA780 890 855 2,809 3,417 EBITDA margin73%79%68%74%74%Other Income114 24 503 189 801 Interest & Finance Charges1,094 1,170 1,379 4,578 4,657 Depreciation343 267 123 919 1,145 Exceptional Income/(Expense)- - 244 - 244 PBT(543) (522) 99 (2,499) (1,340) Taxes(23) 1 68 37 68 Profit after Tax (PAT)(520) (524) 30 (2,536) (1,409)