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Power Grid Corp

₹326 1.3 | 0.4%

Market Cap ₹303153 Cr.

Stock P/E 19.5

P/B 3.5

Current Price ₹326

Book Value ₹ 93.7

Face Value 10

52W High ₹346.9

Dividend Yield 3.45%

52W Low ₹ 177.6

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

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Power Grid Corp Share Price

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Power Grid Corp Quarterly Results

#(Fig in Cr.) Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Net Sales 10448 10687 10905 11151 11262 12286 11048 11267 11550 11978
Other Income 276 381 263 199 268 272 209 263 270 327
Total Income 10724 11068 11169 11349 11530 12557 11258 11530 11820 12305
Total Expenditure 1330 1345 1656 1725 1368 1354 1366 1359 1337 1879
Operating Profit 9394 9722 9513 9625 10162 11203 9892 10172 10483 10426
Interest 1845 2091 1960 2187 3012 2475 2057 2341 2446 1928
Depreciation 3286 3279 3295 3317 3407 3314 3266 3277 3293 3259
Exceptional Income / Expenses 0 306 0 0 0 0 0 0 0 0
Profit Before Tax 4263 4659 4258 4120 3743 5414 4569 4553 4743 5239
Provision for Tax 885 -85 530 409 330 1012 621 574 788 958
Profit After Tax 3378 4744 3728 3711 3413 4402 3948 3980 3956 4281
Adjustments -85 -588 74 -60 232 -79 -351 -198 73 -114
Profit After Adjustments 3293 4156 3801 3650 3645 4323 3597 3781 4028 4166
Adjusted Earnings Per Share 3.5 4.5 4.1 3.9 3.9 4.6 3.9 4.1 4.3 4.5

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 45843
Other Income 1249 774 774 466 735 477 717 928 1407 1077 1025 1069
Total Income 14413 16449 18433 21118 26432 30431 35776 38672 41047 42699 46606 46913
Total Expenditure 1950 437 286 2394 3145 3837 4842 4804 4647 5050 6104 5941
Operating Profit 12463 16012 18146 18724 23287 26594 30935 33868 36400 37648 40502 40973
Interest 3260 5573 6574 5086 6250 7324 8849 9509 8358 8036 9634 8772
Depreciation 3428 4079 5173 6182 7722 9231 10541 11607 12039 12872 13333 13095
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 19104
Provision for Tax 1463 1811 1358 1613 2006 5267 -886 3531 3464 2786 2285 2941
Profit After Tax 4313 4548 5046 5959 7451 8204 10034 11059 12036 16824 15417 16165
Adjustments 0 0 0 0 0 0 0 0 0 0 0 -590
Profit After Adjustments 4313 4548 5046 5959 7451 8204 10034 11059 12036 16824 15417 15572
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 16.8

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 68% 35% 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

# Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
Promoter 51.34 51.34 51.34 51.34 51.34 51.34 51.34 51.34 51.34 51.34
FII 28.19 29.35 30.25 31.68 32.76 32.28 33.13 32 30.5 29.82
DII 8.42 16.02 15.18 13.8 12.74 13.39 12.57 13.22 14.79 15.27
Public 12.05 3.29 3.24 3.18 3.16 2.98 2.95 3.44 3.37 3.57
Others 0 0 0 0 0 0 0 0 0 0
Total 100 100 100 100 100 100 100 100 100 100

Pros

  • Company has reduced debt.

Cons

  • Stock is trading at 3.5 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.

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