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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 power 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 Gurgaon, India.

Financial Highlights

Mar 2022 INRUSD
Revenue412,654.70M5,538.27M
Gross Profit248,125.90M3,330.11M
Operating income240,418.60M3,226.67M
Income before tax200,609.10M2,692.39M
Net income168,240.70M2,257.97M
EBITDA369,135.20M4,954.19M
Diluted EPS24.110.32
Dividends Per Share11.750.15
Total Assets2,617.61B34,544.61M
Total liabilities1,811.26B23,903.26M
Total equity769,869.30M10,159.93M
Operating cash flow177,688.80M2,384.77M
Currency in INRCurrency in USD

Historical Data

 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 299,414.90M 349,883.50M 374,832.90M 393,033.10M 412,654.70M
Gross Profit 181,787.40M 215,040.90M 227,598.50M 239,640.80M 248,125.90M
Operating income 172,045.30M 200,619.60M 221,191.40M 237,092.60M 240,418.60M
Income before tax 100,386.20M 115,452.20M 127,516.20M 149,243.30M 200,609.10M
Net income 82,040M 100,335.20M 110,594M 120,364.60M 168,240.70M
EBITDA 264,355.20M 306,029.10M 337,261.80M 357,484.50M 369,135.20M
Diluted EPS 11.76 14.38 15.85 12.94 24.11
Dividends Per Share 3.93 6.24 7.50 9.75 11.75
Total Assets 2,264.37B 2,514.60B 2,612.57B 2,627.29B 2,617.61B
Total liabilities 1,720.11B 1,920.87B 1,920.65B 1,882.76B 1,811.26B
Total equity 544,259.90M 593,734.30M 650,456M 705,274.90M 769,869.30M
Operating cash flow 157,649M 131,787.80M 195,460.60M 204,801M 177,688.80M
 Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022
Revenue 4,644.53M 5,002.43M 5,286.33M 5,294.44M 5,538.27M
Gross Profit 2,819.89M 3,074.52M 3,209.86M 3,228.13M 3,330.11M
Operating income 2,668.77M 2,868.34M 3,119.50M 3,193.81M 3,226.67M
Income before tax 1,557.19M 1,650.66M 1,798.38M 2,010.41M 2,692.39M
Net income 1,272.60M 1,434.53M 1,559.72M 1,621.39M 2,257.97M
EBITDA 4,100.68M 4,375.42M 4,756.46M 4,815.57M 4,954.19M
Diluted EPS 0.18 0.20 0.22 0.17 0.32
Dividends Per Share 0.06 0.08 0.10 0.13 0.15
Total Assets 34,718.09M 36,298.92M 34,534.48M 35,934.40M 34,544.61M
Total liabilities 26,373.32M 27,728.24M 25,388.22M 25,751.15M 23,903.26M
Total equity 8,344.76M 8,570.68M 8,598.08M 9,646.26M 10,159.93M
Operating cash flow 2,445.45M 1,884.22M 2,756.61M 2,758.81M 2,384.77M

Valuation Measures

Mar 2022
PER8.99
ROA6.41%
ROE22.81%
Operating margin58.26%
Profit margin40.77%

Key executives

  • Chairman & Managing Director: Kandikuppa Sreekant
  • Director & Operations Director: Ravindra Kumar Tyagi
  • Chief Financial Officer: Ravisankar Ganesan
  • Chief Information Security Officer: P.V. Nath
  • Executive Director-Technology Development: Arun K. Mishra

Shareholders

  • Government of India (51.3%)
  • Life Insurance Corporation of India (Investment Portfolio) (5.3%)
  • Capital Research & Management Co. (Global Investors) (3.6%)
  • Nippon Life India Asset Management Ltd. (Invt Mgmt) (2.5%)
  • GIC Pte Ltd. (Investment Management) (2.3%)
  • SBI Funds Management Pvt Ltd. (1.7%)
  • The Vanguard Group, Inc. (1.4%)
  • Fidelity Management & Research Co. LLC (1.3%)
  • BlackRock Fund Advisors (0.9%)
  • Abrdn Asia Ltd. (0.8%)

Contact Details

  • Website:http://www.powergrid.in
  • Address: Saudamini, Near IFFCO Chowk, Gurgaon, 122001, India
  • Phone: +91.124.2822000

Related Companies

  • Neemuch Transmission Ltd.
  • Khetri-Narela Transmission Ltd.
  • Central Transmission Utility of India Ltd.
  • Bikaner-11 Bhiwadi Transco Ltd.
  • Ramgarh New Transmission Ltd.
  • 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.
  • Powergrid 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.
  • Jaypee Powergrid Ltd.

Competitors

  • RailTel Corp. of India Ltd.
Last Updated on 4 Oct, 2022

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