Power Grid Corp

₹329.8 -1.1 | 0.3%

WEBSITE BSE:532898 NSE : POWER GRID 06 Sep, 16:03

Market Cap ₹306734 Cr.

Stock P/E 19.5

P/B 3.4

Current Price ₹329.8

Book Value ₹ 97.1

Face Value 10

52W High ₹362.3

Dividend Yield 3.41%

52W Low ₹ 189

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.)	Dec 2015	Mar 2016	Jun 2016	Sep 2016	Dec 2016	Mar 2017	Jun 2017	Sep 2017	Dec 2017	Mar 2018
Net Sales	5369	5741	6120	6255	6630	6706	7181	7253	7507	7814
Other Income	107	244	139	225	158	344	208	240	278	285
Total Income	5476	5984	6259	6480	6788	7050	7390	7493	7785	8099
Total Expenditure	581	687	700	651	671	1089	981	778	769	1287
Operating Profit	4895	5297	5559	5829	6117	5961	6409	6715	7016	6812
Interest	1288	1520	1518	1588	1643	1556	1762	1867	1955	2006
Depreciation	1585	1769	1757	1877	1965	2063	2131	2235	2319	2407
Exceptional Income / Expenses	-1	-5	-0	0	0	0	0	0	0	0
Profit Before Tax	2020	2004	2284	2365	2509	2342	2515	2612	2742	2400
Provision for Tax	414	435	482	489	571	508	532	552	600	100
Profit After Tax	1606	1569	1802	1876	1938	1833	1983	2060	2143	2299
Adjustments	-1606	-1569	-1802	-1876	-1938	-1833	-1983	-2060	-2143	-2299
Profit After Adjustments	0	0	0	0	0	0	0	0	0	0
Adjusted Earnings Per Share	1.7	1.7	1.9	2	2.1	2	2.1	2.2	2.3	2.5

Power Grid Corp Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	15230	17177	20666	25710	29765	34119	36186	37666	39933	42636	42391	29755
Other Income	491	603	577	1016	1006	1614	2133	3085	2403	2592	3425	1011
Total Income	15721	17780	21243	26726	30770	35733	38319	40750	42337	45228	45816	30767
Total Expenditure	2294	2426	2388	3143	3819	4840	4785	4610	5007	5675	5637	3815
Operating Profit	13427	15354	18855	23583	26952	30893	33534	36141	37329	39553	40179	26952
Interest	3168	3979	5135	6350	7591	9203	9814	8724	8211	9707	9047	7590
Depreciation	3996	5085	6180	7663	9091	10201	11073	11712	12551	12859	12558	9092
Exceptional Income / Expenses	0	0	0	0	3284	-2527	1683	-680	3237	256	-565	0
Profit Before Tax	6264	6289	7541	9570	13554	8962	14331	15025	19805	17243	18009	10269
Provision for Tax	1766	1310	1592	2050	5309	-976	3520	3089	2711	2119	2632	1784
Profit After Tax	4497	4979	5949	7520	8245	9939	10811	11936	17094	15125	15377	8485
Adjustments	0	0	0	0	0	0	0	0	0	211	97	-8485
Profit After Adjustments	4497	4979	5949	7520	8245	9939	10811	11936	17094	15336	15475	0
Adjusted Earnings Per Share	4.8	5.4	6.4	8.1	8.9	10.7	11.6	12.8	18.4	16.3	16.5	9.1

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	-1%	4%	4%	11%
Operating Profit CAGR	2%	4%	5%	12%
PAT CAGR	2%	9%	9%	13%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	73%	36%	24%	16%
ROE Average	18%	20%	19%	17%
ROCE Average	13%	13%	12%	11%

Power Grid Corp Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	34460	38167	43811	49807	54415	59017	64440	69579	76152	82844	86867
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	76790	89376	100173	110963	122420	131040	135421	129080	114199	113891	105067
Other Non-Current Liabilities	12046	13257	10140	9150	20160	24302	26599	26090	25247	25184	23682
Total Current Liabilities	22741	26227	28118	30463	33558	39691	37644	38162	44484	37476	35981
Total Liabilities	146036	167026	182243	200384	230553	254050	264104	262911	260082	259396	251597
Fixed Assets	73154	89686	114942	135508	153610	163860	169836	176944	179732	172278	162701
Other Non-Current Assets	60590	65047	53815	48121	57985	64741	67304	52376	47790	52707	59023
Total Current Assets	12293	12293	13455	16754	18958	25449	26964	33331	32316	34411	29874
Total Assets	146036	167026	182243	200384	230553	254050	264104	262911	260082	259396	251597

Power Grid Corp Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	1662	4418	2053	1541	3228	1516	3646	4805	4430	2457	4146
Cash Flow from Operating Activities	15399	15042	15120	21251	21881	23149	29239	27614	24640	37839	34790
Cash Flow from Investing Activities	-26518	-23843	-20904	-23434	-22981	-18648	-9368	-7803	2189	-5701	-10434
Cash Flow from Financing Activities	13874	6447	5273	3871	-612	-2374	-18712	-20186	-28801	-30449	-25882
Net Cash Inflow / Outflow	2756	-2355	-512	1688	-1712	2127	1159	-375	-1973	1689	-1526
Closing Cash & Cash Equivalent	4418	2063	1541	3228	1516	3643	4805	4430	2457	4146	2621

Power Grid Corp Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	4.84	5.35	6.4	8.09	8.86	10.69	11.62	12.83	18.38	16.26	16.53
CEPS(Rs)	9.13	10.82	13.04	16.32	18.64	21.65	23.53	25.43	31.87	30.09	30.04
DPS(Rs)	2.58	2	2.31	4.35	5.25	8.33	10	12	14.75	11.09	11.25
Book NAV/Share(Rs)	37.05	41.04	47.11	53.55	58.51	63.46	69.29	74.81	81.88	89.07	93.4
Core EBITDA Margin(%)	84.93	85.88	88.44	87.77	87.17	85.81	86.78	87.76	87.46	86.69	86.7
EBIT Margin(%)	61.92	59.78	61.34	61.92	71.04	53.24	66.72	63.05	70.16	63.21	63.83
Pre Tax Margin(%)	41.13	36.61	36.49	37.22	45.54	26.27	39.6	39.89	49.59	40.44	42.48
PAT Margin (%)	29.53	28.99	28.78	29.25	27.7	29.13	29.88	31.69	42.81	35.47	36.28
Cash Profit Margin (%)	55.76	58.59	58.69	59.05	58.24	59.03	60.48	62.78	74.23	65.63	65.9
ROA(%)	3.46	3.18	3.41	3.93	3.83	4.1	4.17	4.53	6.54	5.82	6.02
ROE(%)	14.82	13.71	14.51	16.07	15.82	17.52	17.51	17.81	23.46	19.03	18.12
ROCE(%)	8.9	8.19	8.89	9.93	11.94	9.3	11.57	11.17	13.23	12.77	12.83
Receivable days	36.1	39.28	42.89	42.3	42.06	44.34	48	64.63	79.09	99.05	108.19
Inventory Days	15.15	15.19	12.59	11.46	11.93	12.11	13.25	13.39	12.41	11.46	11.31
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	12.22	15.26	12.23	13.72	12.3	10.43	7.69	9.45	8.85	10.41	16.76
Price/Book(x)	1.59	1.99	1.66	2.07	1.86	1.76	1.29	1.62	1.99	1.9	2.97
Dividend Yield(%)	2.46	1.38	1.66	2.21	2.71	4.2	6.29	5.56	6.8	6.54	4.06
EV/Net Sales(x)	8.78	9.84	8.65	8.5	7.74	7.19	6.24	6.65	7.09	6.6	8.87
EV/Core EBITDA(x)	9.96	11	9.48	9.27	8.55	7.94	6.73	6.93	7.58	7.11	9.36
Net Sales Growth(%)	19.38	12.78	20.31	24.41	15.77	14.63	6.06	4.09	6.02	6.77	-0.57
EBIT Growth(%)	6.54	8.88	23.44	25.6	32.82	-14.09	32.91	-1.64	17.97	-3.8	0.39
PAT Growth(%)	6.21	10.71	19.47	26.42	9.63	20.55	8.78	10.4	43.21	-11.52	1.67
EPS Growth(%)	-6.01	10.71	19.47	26.42	9.63	20.54	8.78	10.4	43.21	-11.52	1.67
Debt/Equity(x)	2.41	2.49	2.47	2.38	2.41	2.48	2.3	2.06	1.77	1.55	1.42
Current Ratio(x)	0.54	0.47	0.48	0.55	0.56	0.64	0.72	0.87	0.73	0.92	0.83
Quick Ratio(x)	0.51	0.44	0.45	0.52	0.53	0.61	0.68	0.84	0.7	0.88	0.79
Interest Cover(x)	2.98	2.58	2.47	2.51	2.79	1.97	2.46	2.72	3.41	2.78	2.99
Total Debt/Mcap(x)	1.51	1.25	1.49	1.15	1.29	1.41	1.78	1.27	0.89	0.82	0.48

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 3.4 times its book value.
The company has delivered a poor profit growth of 9% over past five years.

* 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.