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Utilities

Power Grid Corp. of India Ltd.

Company Background

Power Grid Corp. of India is the nation's largest electric power transmission utility, producing 50% of the power generated in the country. The Indian government holds around 60% of its shares. It handles the entire grid management and operation in the country through its 100% subsidiary Power System Operation Corp. The company is also involved in transmission-related consulting, with footprints in 18 countries, and owns and operates an intercity telecom network in India.

I. S. Jha, Director (Projects) of Power Grid Corp., has been holding additional charge of chairman and managing director following the retirement of R. N. Nayak on Sep. 30. An electrical engineer by qualification, Jha was appointed a director of the company's Board in 2009. He is a well-known electrical power system professional and has published numerous articles and technical papers on the subject.

The company, set up under the administrative control of the Power Ministry, was originally known as the National Power Commission, which came into being in October 1989 after the government decided to integrate operations of all central and regional transmission systems, and got its current name in October 1992. With six fully-owned subsidiaries and 12 joint ventures, it is now exploring business opportunities in areas such as smart city projects and green energy corridors.

Business Summary

Power Grid Corp. of India Ltd. is a holding company, which engages in the transmission business. It operates through the following segments: Transmission Services, Telecom Services and Consultancy Services. The Transmission Services segment refers to the transmission of bulk power across different states of India. The Telecom Services segment operates as a neutral carrier in the point to point bandwidth leasing business. The Consultancy Services segment provides consultancy services in the transmission, distribution and telecom sectors, including planning design, engineering, load dispatch, OPGW on intra state transmission network, procurement management, operation, and maintenance, financing and project management. The company was founded on October 23, 1989 and is headquartered in Guragaon, India.

Financial Highlights

Mar 2020 INRUSD
Revenue374,832.90M5,286.33M
Gross Profit227,598.50M3,209.86M
Operating income221,191.40M3,119.50M
Income before tax127,516.20M1,798.38M
Net income110,594M1,559.72M
EBITDA337,261.80M4,756.46M
Diluted EPS21.130.29
Dividends Per Share100.14
Total Assets2,612.57B34,534.48M
Total liabilities1,920.65B25,388.22M
Total equity650,456M8,598.08M
Operating cash flow195,460.60M2,756.61M
Currency in INRCurrency in USD

Historical Data

 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 206,520.80M 256,974.40M 299,414.90M 349,883.50M 374,832.90M
Gross Profit 128,417.70M 157,518M 181,787.40M 215,040.90M 227,598.50M
Operating income 122,021.20M 150,098.30M 172,045.30M 200,619.60M 221,191.40M
Income before tax 74,563.50M 92,453.20M 100,386.20M 115,452.20M 127,516.20M
Net income 59,586.10M 74,507.30M 82,040M 100,335.20M 110,594M
EBITDA 183,839.40M 227,320.80M 264,355.20M 306,029.10M 337,261.80M
Diluted EPS 11.39 14.24 15.68 19.17 21.13
Dividends Per Share 2.31 4.35 5.25 8.33 10
Total Assets 1,893.77B 2,104.53B 2,264.37B 2,514.60B 2,612.57B
Total liabilities 1,492.35B 1,635.62B 1,720.11B 1,920.87B 1,920.65B
Total equity 401,421.60M 468,905.90M 544,259.90M 593,734.30M 650,456M
Operating cash flow 103,543.50M 159,719M 157,649M 131,787.80M 195,460.60M
 Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020
Revenue 3,154.39M 3,832.17M 4,644.53M 5,002.43M 5,286.33M
Gross Profit 1,961.44M 2,349.01M 2,819.89M 3,074.52M 3,209.86M
Operating income 1,863.74M 2,238.36M 2,668.77M 2,868.34M 3,119.50M
Income before tax 1,138.88M 1,378.72M 1,557.19M 1,650.66M 1,798.38M
Net income 910.11M 1,111.10M 1,272.60M 1,434.53M 1,559.72M
EBITDA 2,807.95M 3,389.96M 4,100.68M 4,375.42M 4,756.46M
Diluted EPS 0.17 0.21 0.24 0.27 0.29
Dividends Per Share 0.03 0.06 0.08 0.11 0.14
Total Assets 28,597.19M 32,409.82M 34,718.09M 36,298.92M 34,534.48M
Total liabilities 22,535.48M 25,188.66M 26,373.32M 27,728.24M 25,388.22M
Total equity 6,061.70M 7,221.15M 8,344.76M 8,570.68M 8,598.08M
Operating cash flow 1,581.52M 2,381.83M 2,445.45M 1,884.22M 2,756.61M

Valuation Measures

Mar 2020
PER7.52
ROA4.31%
ROE17.77%
Operating margin59.01%
Profit margin29.50%

Key executives

  • Chairman & Managing Director: Kandikuppa Sreekant
  • Operations Director & Executive Director: Seema Gupta
  • Chief Financial Officer & Executive Director: Mohammed Taj Mukarrum
  • Secretary & Compliance Officer: Mrinal Shrivsatava
  • Executive Director & Director-Personnel: Vinod Kumar Singh

Shareholders

  • Government of India (51.3%)
  • Life Insurance Corp of India (5.9%)
  • HDFC Asset Management Co. Ltd. (Invt Mgmt) (4.1%)
  • Nippon Life India Asset Management Ltd. (Invt Mgmt) (2.4%)
  • The Vanguard Group, Inc. (1.7%)
  • GIC Pte Ltd. (Investment Management) (1.5%)
  • SBI Funds Management Pvt Ltd. (1.2%)
  • Fidelity Management & Research Co. LLC (1.2%)
  • Comgest SA (1.1%)
  • ICICI Prudential Asset Management Co. Ltd. (0.9%)

Contact Details

Related Companies

  • Powergrid Employees Post Retirement Medical Benefit Trust
  • Power Grid Employes Provident Fund Trust
  • Power Grid Employees Gratuity Fund Trust
  • PowerGrid EMP Defined Contri Super Benefit (Pens) Scheme Trust
  • Powergrid Varanasi Transmission System Ltd.
  • Meerut-Simbhavali Transmission Ltd.
  • Powergrid Jawaharpur Firozabad Transmission Ltd.
  • Powergrid Medinipur Jeerat Transmission Ltd.
  • Powergrid Mithilanchal Transmission Ltd.
  • Power Grid Kala Amb Transmission Ltd.
  • Power Grid Parli Transmission Ltd.
  • Power Grid Unchahar Transmission Ltd.
  • Power Grid Warora Transmission Ltd.
  • Power Grid Southern Interconnector Transmission System Ltd.
  • Power Grid Jabalpur Transmission Ltd.
  • Unchahar Transmission Ltd.
  • Powergrid Vemagiri Transmission Ltd.
  • Power Grid NM Transmission Ltd.
  • Power Grid Vizag Transmission Ltd.
  • Nagapattinam-Madhugiri Transmission Co. Ltd.
  • Vemagiri Transmission System Ltd.
  • Power System Operation Corp. Ltd.

Competitors

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