GTPL Hathway Ltd (GTPL) Q2FY27 Concall Transcript - Sep-2026 Qtr
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Moderator: Ladies and gentlemen, good day, and welcome to the GTPL Hathway Limited Q2 FY27 Earnings Conference Call hosted by Emkay Global Financial Services Limited. As a reminder, all participant lines will be in the listen-only mode, and there will be an opportunity for you to ask questions after the presentation concludes. Should you need assistance during the conference call, please signal an operator by pressing "*" then "0" on your touch-tone phone. Please note that this conference is being recorded. I now hand the conference over to Aryan Tripathi, Emkay Global Financial Services Limited. Thank you, and over to you, sir.
Aryan Tripathi (Emkay Global Financial Services Limited): Good evening, everyone. I would like to welcome the management and thank them for this opportunity. We have with us today Mr. Anirudhsinh Jadeja, Promoter and Managing Director; Mr. Piyush Pankaj, Chief Financial Officer; and Mr. Paramveer Jadeja, Chief Business Officer. Over to you, gentlemen.
Anirudhsinh Jadeja (GTPL Hathway Ltd): Thank you, Mr. Tripathi.
Anirudhsinh Jadeja (GTPL Hathway Ltd): Good evening everyone and a warm welcome to GTPL Hathway Limited earnings call to discuss our financial and operational performance for the second quarter FY '27. During the first half of the year, we continue to focus on strengthening our presence in across digital TV and broadband businesses. Both segments remain integral to grow to growth strategy and our efforts are directed towards enhancing customer experience, strengthening our operating capabilities and expanding reach across key markets. We have completed the acquisition of the ACT Group's cable TV business. In parallel, GTPL Infinity, our HITS platform launched in November 2025, continued to sup- support our expansion and enable us to extend our reach through a scalable operating model. I will now hand over the call our CFO, Mr. Piyush Pankaj, who will take you through the key operating highlights and financial performance of the company.
Piyush Pankaj (GTPL Hathway Ltd): Thank you, Mr. Jadeja. Good evening everyone and thank you for joining us for GTPL Hathway Limited's Q2 FY '27 earnings call. Let me begin with the key operational highlights for the quarter. We successfully completed the acquisition of cable television business of seven companies belonging to the ACT Group on September 15, 2026, for an aggregate cash consideration of ₹35.155 crore. As mentioned during our previous earnings calls, these businesses serve approximately 6 lakh digital TV subscribers across Andhra Pradesh, Telangana, Odisha and Karnataka. As we integrate these operations, we see opportunities to realize revenue synergies, optimize costs and improve overall operation operating efficiencies. Moving to our operational performance this quarter, Starting with the digital TV business, our digital cable TV subscriber base, as of September 30, 2026, stood at 11 million, addition of 1.5 million in this quarter, of which 10.30 million were paying subscribers. The full impact of this subscriber addition will realized in financials in subsequent quarter, once we monetize the synergy benefits. Our business partner network comprised more than 51,000-plus partners, who continue to play an important role in strengthening our market reach and supporting customer acquisition and retention. Coming to our broadband business, our active subscriber base stood at 1.07 million at the end of quarter, which is 10k additions Q-o-Q, while broadband homepass reached 6 million, as of September 30, 2026. Broadband ARPU for Q2 FY '27 stood at ₹470, while average monthly data consumption per user was 436 GB. We have strengthened higher management in broadband. We have appointed new CEO, Mr. Vivek Raina, as broadband in for broadband business and other higher management appoint- appointments. We look forward that through the new branding of True Fiber and aggressive market strategy, which will reap benefits in coming quarters for subscri- subscriber addition and positive financial impact. Our focus remains on improving subscriber convection conversion from our existing homepass, increasing broadband penetration within our digital TV customer base and expanding our B2B business. Let me take you through the our financial performance. Starting with the consolidated results, for Q2 FY '27, consolidated total income stood at ₹11,464 million, compared with ₹9,649 million in Q2 FY '26, translating into year-on-year growth of 19% and quarter-on-quarter growth of 12%. Subscription revenue stood at ₹3,455 million, compared with ₹3,024 million in the corresponding quarter last year and ₹2,930 million in Q1 FY '27. Broadband revenue stand stood at ₹1,459 million, compared with ₹1,393 million in Q2 FY '26 and ₹1,425 million in the previous quarter. Consolidated EBITDA for the quarter stood at ₹1,100
Piyush Pankaj (GTPL Hathway Ltd): with reported EBITDA margin of 9.6%. The operational EBITDA margin stood at 20% this quarter. The consolidated PAT stands negative Rs. 50 lakhs in this quarter due to additional impact of 75 million, Rs. 75 million which is Rs. 45 million on account of forex loss and Rs. 30 million amortization impact due to seven new transponders which is in Standalone financials. Moving to the Standalone performance, total revenue for this quarter stood at Rs. 8,003 million compared with Rs. 6,402 million in Q2 FY '26 representing year-on-year growth of 25% and quarter-on-quarter growth of 15%. Standalone subscription revenue stood at Rs. 2,692 million compared with Rs. 2,191 million in Q2 FY '26 and Rs. 2,127 million in Q1 FY '27. EBITDA stood at Rs. 667 million. With this, I conclude my opening remarks and would now request the moderator to open the floor for the Q&A session.
Moderator: Thank you very much. We will now begin with the question and answer session. Anyone who wishes to ask a question, may press star and one on their touchtone telephone. If you wish to remove yourself from the question queue, you may press star and two. Participants are requested to use handsets while asking a question. Ladies and gentlemen, we will wait for a moment while the question queue assembles. The first question is from the line of Nimesh Varma from Vectorora Sec. Kindly go ahead.
Nimesh Varma (Vectorora Sec): Good afternoon, sir. Am I audible?
Piyush Pankaj (GTPL Hathway Ltd): Yeah, Nimesh. Please go ahead.
Nimesh Varma (Vectorora Sec): Sir, I had a few set of questions, the first one being, following the addition of following the addition of ACT subscribers, what changes are expected in average revenue per subscriber and contribution margins in acquired markets compared with established markets? And what integration or pricing actions will be required to bring acquired market economies market economics closer to the group's established markets?
Piyush Pankaj (GTPL Hathway Ltd): Yeah. So, ACT business is overall accretive to our financials. Currently, still still the whole integration and whole synergy which has to come into the business is going to come into the next quarters. As you know, there are 1,25,000 primary subscribers in this business, which is which is at higher ARPU, which is going to give us a better revenues in the whole region and that will help us to expand our business also for you can talk about broadband or you can talk about any other business. So, all the synergies which has to be reaped from this benefit, we are going to reap in next few quarters and full realization of value will happen at that point of time.
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