GMR Power and Urban Infra Ltd

Business overview

• Core segments: energy generation, smart metering, and transportation & urban infra.
• GPUIL 2.0 focuses on brownfield expansion, renewables, smart metering, and EV charging.

Operational highlights

• Smart Metering: 7.57 million meters installed; contract value ₹75.9 bn; 22 districts.
• Milestones extended to 31 Mar 2028; Bosch software and 10% BGSW stake.
• DFC Eastern Corridor project completed and handed over to DFCCIL; World Bank funded.
• Kamalanga and Warora energy PLFs at Q1FY27: 87% and 90% respectively.
• EPC: DFCC projects completed; 133 km toll/annuity assets; 450 km Eastern Corridor scope.

Financial performance

• Total income declined 1% YoY to ₹17.5 bn; ex-Other income ₹17.1 bn (+3% YoY).
• EBITDA ₹5.0 bn; margin 28%.
• PAT (consolidated) negative ₹339 mn in Q1FY27.
• Net debt ₹93.0 bn; QoQ net debt up ₹1.4 bn; gross debt down ₹0.8 bn.

Strategic priorities & outlook

• GPUIL 2.0: focus on conventional+renewable energy, smart metering, EV charging, and energy trading.
• Refinance Warora to mobilize cash flows and de-leverage.
• Target airports, electronics, automotive, logistics; pursue Railway EPC/PPP.

Risks & governance

• Overdue receivables around ₹6.8 bn; steps to expedite settlement and litigation proceeds.
• Litigation/claims in EPC projects; some claims already considered; denovo arbitration risk noted.
• Governance: ESG initiatives highlighted; no material changes disclosed.

Fund raising details

• Mode of fund raising: Preferential Issue.
• Date of raising funds: January 27, 2026.
• Total funds raised: Rs 1200 crore; Rs 900 crore received by 30 June 2026.
• Balance 300 crore to be received upon warrant conversion within 18 months.

Utilisation status

• Nil deviation or variation in utilisation of funds raised.
• Utilised as of 30 June 2026: Rs 900 crore, 75% of total raised.

Monitoring

• Monitoring agency: CARE Ratings Limited.

Audit Committee

• Audit Committee comments: No comments.

Deviation summary

• Original vs modified objects table shows nil deviation.

Issue overview

• Type: preferential issue of Equity Shares and Convertible Warrants.
• Total issue size; undersubscription indicated with partial proceeds received.
• Main use: debt repayment, subsidiaries’ debt repayment, and general corporate purposes.

Utilisation of proceeds

• Utilisation as per offer document; no material deviations reported.
• Proceeds allocated to debt repayments, subsidiary borrowings, and GCP.
• As of quarter end, allocations are ongoing; no unutilised funds reported.

Governance and compliance

• Approvals: not applicable for material deviations.
• Material events: convertible warrants issued at premium to market price.
• Additional governance note: report is based on issuer information and stated disclosures.

General Corporate Purpose (GCP)

• GCP object exists; utilisation reported as modest; board approval details not explicitly stated.

Meeting Details

• Date of meeting: August 14, 2026; time and venue not disclosed.

Key Agenda Items

• Un-audited standalone and consolidated financial results for quarter ended June 30, 2026.
• Enabling resolution to raise up to ₹3,000 crore via securities, for shareholder approval, subject to regulatory approvals.

Other Notes

• Trading window closed for designated persons and relatives from June 30, 2026; remains closed 48 hours post results.

Dematerialisation status

• No demat requests were received in the reporting period.
• The company has no physical shares.

GKSPL status change

• GKSPL's status changed from wholly owned subsidiary to step-down subsidiary after equity allotment to GEL and Grasim.
• Equity ratio 71:29 with GEL 71% stake; first tranche received July 8, 2026.
• GKSPL had a long-term power supply agreement with Grasim.
• No promoter/ promoter group interest in the transaction.

Website address update

• Website changed from https://www.gmrpui.com/ to https://www.gmrpowerurbaninfra.com/ with immediate effect.
• Old site will redirect users to the new website.

GMR Power and Urban Infra Limited - Closure of Trading Window from close of business hours on June 30, 2026 until 48 hours from the date of declaration of the Un-audited Financial Results for quarter ended June 30, 2026.

Encumbrance creation

• GMR Power And Urban Infra Limited promoter shares were pledged on 11-Jun-2026.
• Promoter/PAC involved: GMR Estate Management Private Limited.
• Encumbrance type: pledge.
• Shares encumbered: 104,199,987 shares, 13.34% of total share capital.
• Encumbered shares were 46.28% of promoter shareholding.
• Beneficiary: VISTRA ITCL (India) Limited, as debenture trustee.
• Underlying instrument: secured, unrated, unlisted, redeemable non-convertible debentures.
• Amount involved: ₹11,00,03,92,628 against facility size ₹14,00,00,00,000.
• Reason stated: personal use by promoters and PACs.
• Additional note: encumbered shares are net of releases till 15-Jun-2026.