GTPL Hathway Ltd

- GTPL Hathway's borrowings increased recently primarily due to project-related margin money and full utilization of overdraft limits. - The company expects the borrowing levels to come down by FY25 as project expenses and related cash outflows stabilize. - No explicit mention in the call transcript of any new fundraising through equity or fresh debt planned in the near term. - The company is currently managing CAPEX between Rs. 350 to 400 crores annually for business maintenance and growth. - Interest costs include both debt interest (~8.5%) and operating lease accounting entries; no indication of new debt cost escalation. - Overall, based on available discussion, no immediate new fundraising through debt or equity has been indicated.

- FY24 CAPEX was ₹396 crore, split roughly as ₹200 crore for cable and ₹196 crore for broadband. - Metro Cast acquisition is accounted as an investment currently, not included in FY24 CAPEX. - FY25 CAPEX guidance is ₹350-400 crore, including maintenance and growth investments. - Incremental CAPEX return is currently around 10%, expected to improve from FY25. - Increased CAPEX partly driven by higher churn (now 15% vs. pre-COVID 7-8%) requiring maintenance and upgrades. - Future CAPEX will support broadband subscriber growth (adding 100K-150K annually) and improved service offerings like new apps integrating OTT platforms. - Debt and borrowings increased to fund projects, including margin money and utilization of overdraft limits. - Strategic focus on infrastructure investment tied to BharatNet projects, enhancing rural and tier 2 city penetration.

- GTPL Hathway expects continued revenue growth driven by both Cable TV (CATV) and broadband segments. - Broadband subscriber base reached 1.02 million in FY24 and is projected to grow by 100K to 150K subscribers annually, targeting 1.2 to 1.5 million subscribers in 3 years. - The wired broadband market in India is rapidly expanding—from 38 million subscribers now to an anticipated 100-150 million over the next 4-7 years. - Digital cable TV subscribers increased by 550K YoY; the company continues to pursue organic and inorganic growth through market penetration and acquisitions. - The broadband ARPU is stable at Rs.460; focus is on volume-driven growth rather than price hikes. - Overall revenue CAGR target is approximately 17%, with broadband and CATV subscription growth as key drivers. - The company aims to maintain operating EBITDA margins around 24%-26% while growing revenue.

- Revenue growth expected at a CAGR of approximately 17%. - Operating EBITDA growth CAGR currently at 7%-8%, with plans to improve through cost reduction and revenue enhancement. - Operating margin (EBITDA margin net of payments to broadcasters) maintained consistently between 24%-26%, with plans to increase to about 26%-27% in FY25. - EBITDA growth projected to pick up to 10%-12% starting FY25. - Net profit expected to improve alongside margin expansion in FY25. - Broadband subscriber base expected to grow from 1 million to 1.2-1.5 million over the next three years, supporting revenue growth. - Capex of Rs. 350-400 crores annually aimed at maintaining and expanding business, with incremental returns expected to improve over time. - Dividend payout with 40% recommended for FY24, indicating steady shareholder returns.

- GTPL Hathway has undertaken a significant project awarded by Gujarat ISP Private Limited (GISL) valued at Rs. 46 crores. - This project involves making 8,000 Gram Panchayats in Gujarat Wi-Fi enabled under phases one and two of the BharatNet project. - The project is nearly complete, with revenues and costs largely recognized in the last quarter. - Some pending revenues remain to be booked. - The project has thin profitability currently, with net profits low relative to costs. - No specific mention of the broader order book or additional pending orders beyond this BharatNet-related project was provided in the transcript.