Relief to gmr for payment of Monthly Annual Fee to AAI during covid
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GMR Q3 results
Consolidated financials :
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Total Income: 9% QoQ growth,22% YoY growth driver by growth in traffic.
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EBITDA : 4% fall QoQ, 16% growth YoY with EBITDA margins at 46%.
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Loss of INR 4.9bn vs loss of 1.9bn in Q2FY24 and profit of 1 BN in Q3FY 24 impacted by higher depreciation and interest charges post operationalization of Goa Airport and completion of expansion of Delhi and Hyderabad Airports.
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Domestic and international pax traffic of airports up 14% YoY and 23% YoY
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International PAX traffic at 24% of total pax traffic in Q3FY24.
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Delhi, Hyderabad and Goa cumulatively handled ~23% domestic and 35% international passengers of total India air traffic.
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GMR group honoured with 6 prestigious awards at Wings India Award 2024.
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Quarter 4 and annual report published.
Private equity player GQG Partners hikes stake in GMR Airports to 5.17%-
I am invested and here is my take on how GMR Airport and Infra Story can Shape up in next 10yrs.
*It has two of the best airports in India, Delhi and Hyderabad.
*In next 10yrs, debt of 32000cr should come to 8000cr, and FY24 revenue of 8000cr may go upto 32000cr in FY34. This reversal can of key indicators can create a 10bagger. Considering the business can be trading at a PE Of 50-100, below is my imagination on how the numbers may pan out.
| Year | Revenue (₹ crore) | EPS (₹) | Stock Price (₹) (Adjusted) | Debt Levels (₹ crore) | Assumptions |
|---|---|---|---|---|---|
| 2024 | 8,754.56 | -0.93 | 100 | 32,750 | Recovery post-COVID, negative EPS reflecting initial challenges |
| 2025 | 10,500 - 11,000 | -0.50 | 105 - 115 | 30,500 | Passenger traffic growth and non-aeronautical revenue help reduce losses |
| 2026 | 12,000 - 12,500 | 0.10 | 125 - 135 | 28,000 | Expansion of international routes, positive EPS turns upward |
| 2027 | 13,500 - 14,000 | 0.80 | 145 - 155 | 25,500 | New terminal and upgrades lead to operational efficiency |
| 2028 | 15,000 - 16,000 | 1.50 | 175 - 185 | 22,500 | Continued growth, increased cargo and passenger traffic |
| 2029 | 17,000 - 18,500 | 2.00 | 200 - 210 | 20,000 | Passenger growth stabilizes, debt reduction due to asset monetization |
| 2030 | 19,000 - 20,500 | 2.75 | 230 - 240 | 17,500 | Impact of expanded fleet and increased international operations |
| 2031 | 21,500 - 22,500 | 3.25 | 260 - 280 | 15,000 | Focus on technology-driven airport operations, further cost optimization |
| 2032 | 24,000 - 25,500 | 3.75 | 300 - 320 | 12,500 | Growth driven by commercial property development at airport sites |
| 2033 | 26,500 - 28,000 | 4.50 | 330 - 350 | 10,000 | Continuous investments in non-aeronautical services and real estate |
| 2034 | 29,000 - 31,000 | 5.00 | 370 - 400 | 8,000 | Sustained traffic and revenue from airport operations and expansions |
Which listed entity of GMR Group owns GMR Sports which has 50% ownership in the IPL team - Delhi Capitals?
Couldn’t find details on the same in any Annual report. Anybody has info on this?
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