Any current/future new fundraising through debt or equity?

GTPL Hathway Limited is currently funding all its CAPEX (both cable TV and broadband) through internal accruals. There are no plans for outside borrowing or raising debt to fund CAPEX. Management confirmed they have not gone for any borrowing and intend to continue using internal accruals for investment needs. No mention was made about any immediate or future fundraising through equity in the transcript. Overall, the company appears focused on organic growth funded by existing cash flows without external debt or equity raising at this time.

Any current/future capex/capital investment/strategic investment?

GTPL Hathway Ltd's estimated annual CAPEX is around ₹400 crores. Till Q3 FY24, ₹305 crores CAPEX done: ₹150 crores in Cable TV (CATV) and ₹154 crores in broadband. CAPEX is primarily for maintaining and expanding Cable TV and broadband businesses. No outside borrowing for CAPEX; entirely funded from internal accruals. Depreciation expected to rise gradually by ₹24-25 crores annually owing to CAPEX. Company plans expansion into new markets and expects to increase broadband subscriber additions from 30k to 40-50k per quarter next year. B2B broadband business is a key growth area, with 65k subscr

Future growth expectations in earnings/operating earnings/profits/EPS?

The company expects EBITDA margins to improve to 17%-18% by Q4 FY24 and aims to reach 20%-21% by end of FY25. PAT is projected to improve compared to FY23, with optimism for growth beyond 115 crores achieved last year. Broadband active subscriber growth is expected to accelerate from current ~30k additions per quarter to 40-50k in the next quarter due to B2B business scaling. Consolidated cable TV subscriber base is expected to grow, aiming to close the current year near 10 million subscribers, with growth boosted by upcoming events (IPL, World Cup). ISP revenue growth is forecasted at

Current/ Expected Orderbook/ Pending Orders?

GTPL Hathway has a significant ongoing project granted by Gujarat ISP Private Limited (GISL) under the BharatNet project. The project involves making gram panchayats in 8,000 Gujarat villages WiFi enabled through material supply and installation at gram panchayat premises (Phase-I and Phase-II). The project size is approximately Rs. 50 crores, including material and Operations & Maintenance (O&M). The project is almost complete, with substantial revenues recognized in the reported quarter. Remaining revenues will come from O&M in upcoming quarters. The project's margin is around 12% to 13%. No

GTPL HathwayQ3 FY24Entertainment

GTPL Hathway Q3 FY24 Earnings Call Analysis

Revenue, margin, capex, fundraise and order book outlook from management commentary.

Price: ₹56.06Market Cap: ₹630 CrSector: Entertainment

Management growth scorecard

Revenue

Category 3

Margin

Category 3

Fundraise

Order

N/A

Capex

Yes

1 of 4 growth signals are positive — mixed outlook.

Full analysis

Revenue guidance

Category 3

- Cable TV business: - Active paying subscribers expected to grow, aiming to close the year close to 10 million subscribers. - This quarter muted due to World Cup-related churn but expected growth driven by upcoming events like IPL and T20 World Cup. - Expansion into new markets planned from next quarter and next year. - Broadband business: - Currently adding ~30k subscribers per quarter. - Plan to increase additions to 40-50k per quarter in the near term. - Broadband achieved milestone of 1 million active subscribers. - B2B broadband business expected to drive future growth beyond current B2C focus. - Industry broadband penetration expected to rise from 11% to 40-45% in next 4-5 years, indicating large growth opportunity. - Revenue & EBITDA growth: - Consolidated revenue grew 22% YoY; broadband revenue grew 9% YoY. - ISP revenue growth anticipated around 16-17% annually. - EBITDA margin expected to improve to 17-18% by Q4 and 20-21% by FY25. Overall, steady volume and revenue growth projected supported by market expansion and key sporting events.

Margin guidance

Category 3

The company expects EBITDA margins to improve to 17%-18% by Q4 FY24 and aims to reach 20%-21% by end of FY25.
PAT is projected to improve compared to FY23, with optimism for growth beyond 115 crores achieved last year.
Broadband active subscriber growth is expected to accelerate from current ~30k additions per quarter to 40-50k in the next quarter due to B2B business scaling.
Consolidated cable TV subscriber base is expected to grow, aiming to close the current year near 10 million subscribers, with growth boosted by upcoming events (IPL, World Cup).
ISP revenue growth is forecasted at around 16%-17% annually going forward.
CAPEX of ~400 crores annually is planned, funded through internal accruals, to maintain and grow broadband and cable operations, stabilizing depreciation increases (~24-25 crores yearly).
Overall, the company anticipates gradual improvement in profitability and subscriber growth over the next 1-3 years.

See what GTPL Hathway management said on margin guidance — free account, 30 seconds.

Fundraise plans

GTPL Hathway Limited is currently funding all its CAPEX (both cable TV and broadband) through internal accruals.
There are no plans for outside borrowing or raising debt to fund CAPEX.
Management confirmed they have not gone for any borrowing and intend to continue using internal accruals for investment needs.
No mention was made about any immediate or future fundraising through equity in the transcript.
Overall, the company appears focused on organic growth funded by existing cash flows without external debt or equity raising at this time.

Order book

GTPL Hathway has a significant ongoing project granted by Gujarat ISP Private Limited (GISL) under the BharatNet project.
The project involves making gram panchayats in 8,000 Gujarat villages WiFi enabled through material supply and installation at gram panchayat premises (Phase-I and Phase-II).
The project size is approximately Rs. 50 crores, including material and Operations & Maintenance (O&M).
The project is almost complete, with substantial revenues recognized in the reported quarter.
Remaining revenues will come from O&M in upcoming quarters.
The project's margin is around 12% to 13%.
No specific details on other pending orders or orderbook size mentioned in the transcript.

See what GTPL Hathway management said on order book — free account, 30 seconds.

Capex plans

Yes

GTPL Hathway Ltd's estimated annual CAPEX is around ₹400 crores.
Till Q3 FY24, ₹305 crores CAPEX done: ₹150 crores in Cable TV (CATV) and ₹154 crores in broadband.
CAPEX is primarily for maintaining and expanding Cable TV and broadband businesses.
No outside borrowing for CAPEX; entirely funded from internal accruals.
Depreciation expected to rise gradually by ₹24-25 crores annually owing to CAPEX.
Company plans expansion into new markets and expects to increase broadband subscriber additions from 30k to 40-50k per quarter next year.
B2B broadband business is a key growth area, with 65k subscribers currently and plans for significant scale-up.
No new financial obligations remain from Metro Cast merger; stake increase completed with necessary cash outflows.

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GTPL Hathway Q3 FY24 Earnings Call Analysis

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Capex plans

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What GTPL Hathway's management said in earlier quarters

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