Operating margin to expand to 25%
Management expects consolidated operating EBITDA margin to improve from current 22% to 25% as HITS platform benefits materialize and synergies from ACT acquisition flow through.
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GTPL Hathway · forward-looking guidance across the available source record.
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margins
FY27 capex of INR 400 crore
Full-year capital expenditure guidance set at INR 400 crore, allocated equally (50:50) between broadband expansion and digital TV/HITS infrastructure.
HITS benefits 40-50% realized in FY27
Full HITS platform benefits expected to materialize by end Q3/start Q4 FY27; approximately 40-50% of benefits will be realized in current fiscal year with 100% from FY28.
Broadband extraction rate target 20-21%
Management targeting 20-21% subscriber extraction rate from existing 5.95 million home passes versus current ~17%, indicating focus on utilization before expanding footprint.
Capex guidance of INR 350-400 crore for FY26
Management reiterated the full-year capex range, with INR 153 crore spent in H1 (90 crore in CATV, 63 crore in broadband).
HITS platform launch in Q3 FY26
The company plans to launch its HITS (Headend in the Sky) platform in the third quarter, which will enable pan-India reach and cost savings.
Recovery in subscription revenue in H2
Management expects subscription revenue to recover in Q3 and Q4, driven by cricket events and seasonal improvement, with churn returning to 8-11%.
Revenue CAGR target of 11-12%
Management expects to return to historical revenue CAGR of 11-12% driven by GTPL Infinity and subscriber growth.
EBITDA CAGR target of 13-14%
Management targets EBITDA CAGR of 13-14% as cost benefits from satellite platform materialize.
Full benefits of GTPL Infinity by December 2026
Management expects full conversion and benefits from the satellite platform to be visible within one year, by end of 2026.
FY26 capex guidance of ₹270 crore
Management guided total capex for FY26 at ₹270 crore, lower than initial plan, with no incremental capex needed for satellite platform.