GTPL Hathway Ltd

- Currently, GTPL Hathway Limited is in a phase of investing in new platform implementation and capex, funded through internal accruals and working capital. - The company has seen a rise in interest cost due to this ongoing investment phase and has moved from a net debt negative to a minor debt positive position. - Management indicated that once capex implementation completes and business benefits kick in, they expect to revert back to a net debt negative position. - There is no specific mention in the call transcript of any new or upcoming fundraising through either debt or equity at this time. - Any government-related orders or consortium deals (e.g., in BharatNet projects) are in pipeline but not finalized, with no stated financing plans yet. - The focus remains on judicious use of financial resources, efficiency, and organic/inorganic growth, but no explicit fundraising announcements were made.

- FY '25 capex was around INR355 crores: INR230 crores in CATV and INR125 crores in broadband. (Page 9) - Approximately INR300-400 crores invested in optical fiber cables over the last 5-6 years, laying more than 1 lakh km of infrastructure, covering 6-6.5 million homepasses. (Page 10) - Total broadband and cable investment over 6 years around INR2,500-2,700 crores with ~50% in broadband, half of which is optical fiber (~INR500-600 crores in last 4 years). (Page 10) - Major capex underway related to new platform rollout leading to temporary net debt increase; expecting benefits post-implementation to return to net debt negative. (Pages 13, 14) - Future expansion includes rollout in rural areas via government-supported projects (e.g., BharatNet with LC Infra consortium), beginning with Gujarat, expanding to other states. (Pages 5, 11) - Emphasis on FTTH technology as key future broadband investment for scalability and quality. (Page 10)

- GTPL Hathway aims to improve subscriber additions in FY '26 for both cable and broadband segments, targeting a return to adding more than 0.5 million subscribers annually. - Broadband revenue showed a 4% CAGR previously, with expectations to soon return to double-digit growth. - The company expects total revenue growth of around 18% CAGR based on the last 8 years. - EBITDA growth target is approximately 9% CAGR, aiming to maintain operational EBITDA margins around 22%-23%. - Positive impact anticipated from government initiatives like the National Broadband Mission and BharatNet project, aiding broadband infrastructure expansion. - Expansion plans include deeper penetration in Gujarat and scaling the rural broadband model to other states. - Increased subscriber base and revenue growth expected from events like IPL and the end of Ramadan period, which already showed a surge. - Efforts focus on efficiency, technology adoption, and competitive pricing to drive consumer acquisition and retention.

- GTPL Hathway aims to return to historical growth rates with FY '26 targets of 18% CAGR revenue growth and 9% CAGR EBITDA growth, reversing recent dips. - Operational EBITDA margin is targeted to be maintained in the 22%-23% range, aiming to return to 24%-25% with time. - Revenue growth expected from better subscriber additions in both cable TV and broadband, leveraging expanded delivery platforms and deeper market penetration. - EBITDA is expected to recover as subscription income improves post recent churn issues, and the impact of depreciation stabilizes. - The company anticipates improved profitability driven by operational efficiencies, new HITS license benefits, and government broadband infrastructure initiatives. - Positive impact on earnings from broadband segment growth, targeting a return to double-digit growth rates after short-term euphoria from 5G fades. - Overall, management expects to recover and improve profitability and earnings per share as subscriber base and revenues increase post FY '25 challenges.

- GTPL Hathway has not received any orders from government agencies as of now. - Orders related to government projects, such as the BharatNet project with LC Infra as a consortium partner, are currently in the pipeline. - The Approval to Proceed Order (APO) for BharatNet projects in Haryana and North-East is expected within 30 to 45 days. - Once orders materialize, the company will make official announcements via press releases and inform SEBI. - No current litigation is impacting these pending orders. (Source: Pages 5 and 12)