Power Grid Corp

₹344.2 5 | 1.5%

WEBSITE BSE:532898 NSE : POWER GRID 26 Jul, 16:12

Market Cap ₹320127 Cr.

Stock P/E 20.4

P/B 3.7

Current Price ₹344.2

Book Value ₹ 93.7

Face Value 10

52W High ₹348.6

Dividend Yield 3.27%

52W Low ₹ 179.8

Edit Ratio

Power Grid Corp Research see more...

Power Grid: Business Analysis

Overview Inc. Year: 1989Industry: Power Generation/Distribution

Power Grid Corporation of India Ltd is a power transmission corporation. The Company is engaged in planning, implementation, operation and preservation of Inter-State Transmission System (ISTS), telecom and consultancy services. The Company's segments consist of Transmission Services, Consultancy Services and Telecom Services. Its Transmission Services segment is engaged in transmission of bulk electricity throughout India. Its Consultancy Services segment provides consultancy services in the transmission, distribution and telecom sectors, such as making plans layout, engineering, load dispatch, optical floor wire (OPGW) on intra state transmission community, procurement management, operation and maintenance, financing, and project management. The Company makes use of the spare optical fibers available in the OPGW laid on the transmission community for providing telecom services to diverse clients, which include telecom provider companies and IT groups

Power Grid Corp Share Price

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Peer Comparison

Power Grid Corp Quarterly Results

#(Fig in Cr.)	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Net Sales	10687	10905	11151	11262	12286	11048	11267	11550	11978	11006
Other Income	381	263	199	268	272	209	263	270	327	273
Total Income	11068	11169	11349	11530	12557	11258	11530	11820	12305	11280
Total Expenditure	1345	1656	1725	1368	1354	1366	1359	1337	1879	1404
Operating Profit	9722	9513	9625	10162	11203	9892	10172	10483	10426	9876
Interest	2091	1960	2187	3012	2475	2057	2341	2446	1928	2039
Depreciation	3279	3295	3317	3407	3314	3266	3277	3293	3259	3200
Exceptional Income / Expenses	306	0	0	0	0	0	0	0	0	0
Profit Before Tax	4659	4258	4120	3743	5414	4569	4553	4743	5239	4637
Provision for Tax	-85	530	409	330	1012	621	574	788	958	879
Profit After Tax	4744	3728	3711	3413	4402	3948	3980	3956	4281	3757
Adjustments	-588	74	-60	232	-79	-351	-198	73	-114	-33
Profit After Adjustments	4156	3801	3650	3645	4323	3597	3781	4028	4166	3724
Adjusted Earnings Per Share	4.5	4.1	3.9	3.9	4.6	5.2	4.1	4.3	4.5	4

Power Grid Corp Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	13164	15675	17659	20652	25697	29954	35059	37744	39640	41622	45581	45801
Other Income	1249	774	774	466	735	477	717	928	1407	1077	1025	1133
Total Income	14413	16449	18433	21118	26432	30431	35776	38672	41047	42699	46606	46935
Total Expenditure	1950	437	286	2394	3145	3837	4842	4804	4647	5050	6104	5979
Operating Profit	12463	16012	18146	18724	23287	26594	30935	33868	36400	37648	40502	40957
Interest	3260	5573	6574	5086	6250	7324	8849	9509	8358	8036	9634	8754
Depreciation	3428	4079	5173	6182	7722	9231	10541	11607	12039	12872	13333	13029
Exceptional Income / Expenses	0	0	5	0	0	3284	-2527	1683	-717	2791	249	0
Profit Before Tax	5776	6359	6404	7572	9457	13471	9147	14590	15501	19610	17702	19172
Provision for Tax	1463	1811	1358	1613	2006	5267	-886	3531	3464	2786	2285	3199
Profit After Tax	4313	4548	5046	5959	7451	8204	10034	11059	12036	16824	15417	15974
Adjustments	0	0	0	0	0	0	0	0	0	0	0	-272
Profit After Adjustments	4313	4548	5046	5959	7451	8204	10034	11059	12036	16824	15417	15699
Adjusted Earnings Per Share	5.2	4.9	5.4	6.4	8	8.8	10.8	11.9	12.9	18.1	16.6	16.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	10%	6%	9%	13%
Operating Profit CAGR	8%	6%	9%	13%
PAT CAGR	-8%	12%	13%	14%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	83%	38%	24%	16%
ROE Average	19%	20%	19%	17%
ROCE Average	13%	12%	12%	11%

Power Grid Corp Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	26403	34698	38439	43970	49866	54426	59088	64695	69936	76247	83015
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	64030	77772	90492	100463	111253	122710	131330	135421	129175	114199	113891
Other Non-Current Liabilities	9965	12298	13594	14003	13686	20074	24325	26455	26025	25182	25247
Total Current Liabilities	18419	23442	27380	28522	30973	34794	40298	38841	39005	47649	39348
Total Liabilities	118818	148211	169905	186958	205778	232004	255040	265413	264468	263277	261501
Fixed Assets	62568	74252	91191	115094	137678	156198	172740	181112	183726	191773	185437
Other Non-Current Assets	46303	60861	65260	54549	51421	56951	56956	57429	46577	36550	40190
Total Current Assets	9946	13098	13454	13355	16680	18855	25345	26872	27995	34710	35874
Total Assets	118818	148211	169905	186958	205778	232004	255040	265413	264468	263277	261501

Power Grid Corp Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	3111	2679	4974	2491	1544	3241	1535	3650	4850	4668	2577
Cash Flow from Operating Activities	11690	15223	15800	15008	21575	22710	23271	30739	29403	26124	38005
Cash Flow from Investing Activities	-22084	-26639	-24185	-21577	-23836	-25701	-18727	-10733	-9063	753	-6126
Cash Flow from Financing Activities	9962	13712	6399	5621	3959	1285	-2431	-18806	-20521	-28967	-29264
Net Cash Inflow / Outflow	-432	2295	-1986	-948	1698	-1707	2113	1199	-182	-2091	2615
Closing Cash & Cash Equivalent	2679	4974	2989	1544	3241	1535	3648	4850	4487	2577	5192

Power Grid Corp Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	5.24	4.89	5.43	6.41	8.01	8.82	10.79	11.89	12.94	18.09	16.58
CEPS(Rs)	9.4	9.28	10.99	13.05	16.31	18.75	22.12	24.37	25.89	31.93	30.91
DPS(Rs)	2.75	2.58	2	2.31	4.35	5.25	8.33	10	12	14.75	14.75
Book NAV/Share(Rs)	32.08	37.31	41.33	43.11	53.62	58.52	63.53	69.56	75.2	81.98	89.26
Core EBITDA Margin(%)	85.19	97.21	98.38	88.41	87.76	87.19	86.19	87.27	88.28	87.87	86.61
EBIT Margin(%)	68.64	76.12	73.49	61.29	61.12	69.42	51.33	63.85	60.19	66.42	59.97
Pre Tax Margin(%)	43.87	40.57	36.27	36.66	36.8	44.97	26.09	38.66	39.1	47.11	38.84
PAT Margin (%)	32.76	29.01	28.58	28.85	28.99	27.39	28.62	29.3	30.36	40.42	33.82
Cash Profit Margin (%)	58.8	55.03	57.87	58.79	59.04	58.21	58.69	60.05	60.74	71.35	63.08
ROA(%)	4.05	3.41	3.17	3.34	3.79	3.75	4.12	4.25	4.54	6.38	5.88
ROE(%)	17.26	14.89	13.8	15.18	16.57	15.73	17.68	17.87	17.88	23.02	19.36
ROCE(%)	10.41	11.12	10.24	8.94	9.89	11.72	9.2	11.52	11.2	13.04	13
Receivable days	41.88	36.2	39.53	43.71	41.7	41.26	43.56	47.23	64.34	79.47	88.69
Inventory Days	13.78	14.74	14.8	12.6	11.47	11.92	11.95	12.96	13.04	12.08	10.8
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	11.37	12.09	15.05	12.21	13.85	12.36	10.33	7.52	9.37	8.99	10.21
Price/Book(x)	1.86	1.58	1.98	1.82	2.07	1.86	1.75	1.29	1.61	1.98	1.9
Dividend Yield(%)	2.6	2.46	1.38	1.66	2.21	2.71	4.2	6.29	5.56	6.8	6.54
EV/Net Sales(x)	8.78	8.56	9.58	8.67	8.51	7.7	7.01	5.99	6.32	6.75	6.07
EV/Core EBITDA(x)	9.28	8.38	9.33	9.56	9.4	8.68	7.94	6.67	6.88	7.46	6.83
Net Sales Growth(%)	26.09	19.08	12.65	16.95	24.43	16.56	17.04	7.66	5.02	5	9.51
EBIT Growth(%)	24.01	32.06	8.76	-2.47	24.09	32.39	-13.46	33.92	-1	15.87	-1.12
PAT Growth(%)	30.57	5.45	10.97	18.08	25.04	10.11	22.3	10.22	8.83	39.78	-8.36
EPS Growth(%)	30.57	-6.68	10.97	18.08	25.04	10.11	22.3	10.22	8.83	39.78	-8.36
Debt/Equity(x)	2.62	2.43	2.5	2.71	2.39	2.42	2.48	2.29	2.05	1.77	1.53
Current Ratio(x)	0.54	0.56	0.49	0.47	0.54	0.54	0.63	0.69	0.72	0.73	0.91
Quick Ratio(x)	0.51	0.53	0.47	0.44	0.51	0.51	0.6	0.65	0.68	0.7	0.88
Interest Cover(x)	2.77	2.14	1.97	2.49	2.51	2.84	2.03	2.53	2.85	3.44	2.84
Total Debt/Mcap(x)	1.41	1.53	1.27	1.49	1.15	1.3	1.41	1.78	1.27	0.89	0.8

Power Grid Corp Shareholding Pattern

#	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoter	51.34	51.34	51.34	51.34	51.34	51.34	51.34	51.34	51.34	51.34
FII	29.35	30.25	31.68	32.76	32.28	33.13	32	30.5	29.82	28.73
DII	16.02	15.18	13.8	12.74	13.39	12.57	13.22	14.79	15.27	16.32
Public	3.29	3.24	3.18	3.16	2.98	2.95	3.44	3.37	3.57	3.62
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoter	358.12	358.12	358.12	358.12	358.12	358.12	477.49	477.49	477.49	477.49
FII	204.75	210.98	220.96	228.49	225.19	231.12	297.65	283.67	277.38	267.17
DII	111.72	105.87	96.27	88.87	93.42	87.71	122.97	137.52	142.02	151.78
Public	22.96	22.58	22.2	22.06	20.82	20.6	31.95	31.38	33.17	33.62
Others	0	0	0	0	0	0	0	0	0	0
Total	697.55	697.55	697.55	697.55	697.55	697.55	930.06	930.06	930.06	930.06

Pros

Company has reduced debt.

Cons

Stock is trading at 3.7 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.