India Power Corporation Ltd

₹ 7.60 0.53%

12 Jun 9:49 a.m.

About

Incorporated in 1919, India Power Corporation Ltd is engaged in business of Power Distribution, Renewable Power Generation and Smart Grid.

Key Points

Business Overview 9M FY24
The company is among the strongest players in West Bengal and the best-performing discoms in the country. ^[1]

The company's business activities consist of two segments viz.,
a) Regulated Business (93%), which consists of a power distribution business (including thermal power generation which exclusively supplies power for distribution business) in Asansol, West Bengal (licensed area) regulated by West Bengal Electricity Regulatory Commission.

b) Non-Regulated business (7%), consists of all business that is independent and has no bearing with the Regulated business. ^[2]

Website NSE - BE

Market Cap ₹ 740 Cr.
Current Price ₹ 7.60
High / Low ₹ 14.9 / 7.00
Stock P/E 91.8
Book Value ₹ 6.68
Dividend Yield 0.66 %
ROCE 4.20 %
ROE 1.05 %
Face Value ₹ 1.00

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Pros

Company has reduced debt.
Stock is trading at 1.13 times its book value

Cons

The company has delivered a poor sales growth of 5.30% over past five years.
Company has a low return on equity of 1.00% over last 3 years.
Promoters have pledged 67.4% of their holding.

* 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.

Peer comparison

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	152.32	172.18	161.22	135.90	157.71	168.37	149.47	150.12	131.95	158.39	187.45	144.36	156.82
	151.10	157.60	154.78	123.77	151.89	160.59	145.47	142.02	228.86	152.62	180.66	148.88	159.58
Operating Profit	1.22	14.58	6.44	12.13	5.82	7.78	4.00	8.10	-96.91	5.77	6.79	-4.52	-2.76
OPM %	0.80%	8.47%	3.99%	8.93%	3.69%	4.62%	2.68%	5.40%	-73.44%	3.64%	3.62%	-3.13%	-1.76%
	20.54	7.55	15.02	9.67	14.77	13.93	16.85	11.77	102.62	-232.53	11.74	22.19	21.61
Interest	9.75	9.31	8.32	7.76	7.14	7.76	6.61	6.22	6.16	4.33	4.28	3.83	6.12
Depreciation	7.36	8.33	8.12	8.48	8.51	8.76	8.87	8.90	8.99	8.96	8.97	8.98	8.80
Profit before tax	4.65	4.49	5.02	5.56	4.94	5.19	5.37	4.75	-9.44	-240.05	5.28	4.86	3.93
Tax %	29.25%	25.61%	24.90%	25.36%	22.27%	24.86%	24.77%	32.00%	-26.27%	0.59%	28.60%	28.40%	-13.49%
	3.28	3.34	3.76	4.15	3.84	3.90	4.05	3.23	-6.96	-241.46	3.76	3.48	4.46
EPS in Rs	0.03	0.03	0.04	0.04	0.04	0.04	0.04	0.03	-0.07	-2.48	0.04	0.04	0.05
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Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	627	562	450	481	523	481	500	560	599	627	600	647
	533	477	355	392	450	429	430	501	542	571	646	642
Operating Profit	95	85	95	89	74	52	69	59	58	56	-46	5
OPM %	15%	15%	21%	19%	14%	11%	14%	11%	10%	9%	-8%	1%
	2	18	42	40	45	51	19	24	28	30	114	-177
Interest	45	41	58	78	74	46	38	33	38	33	27	19
Depreciation	15	18	18	17	16	29	30	29	29	33	36	36
Profit before tax	37	44	61	35	28	28	21	22	19	20	6	-226
Tax %	34%	27%	36%	38%	33%	41%	-29%	27%	27%	25%	28%	2%
	24	32	39	21	19	17	27	16	14	15	4	-230
EPS in Rs	0.25	0.33	0.40	0.22	0.19	0.17	0.27	0.17	0.14	0.15	0.04	-2.36
Dividend Payout %	20%	15%	12%	23%	26%	29%	18%	30%	36%	32%	115%	0%

Compounded Sales Growth
10 Years:	1%
5 Years:	5%
3 Years:	3%
TTM:	8%

Compounded Profit Growth
10 Years:	-13%
5 Years:	-21%
3 Years:	-16%
TTM:	91%

Stock Price CAGR
10 Years:	-10%
5 Years:	-15%
3 Years:	-14%
1 Year:	-46%

Return on Equity
10 Years:	1%
5 Years:	1%
3 Years:	1%
Last Year:	1%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	97	97	97	97	97	97	97	97	97	97	97	97
Reserves	933	983	1,022	1,044	1,066	1,527	1,551	1,280	916	924	785	553
	538	853	589	645	338	342	299	328	282	209	153	119
	308	308	366	372	412	606	561	602	729	824	776	804
Total Liabilities	1,877	2,241	2,075	2,158	1,913	2,573	2,508	2,307	2,024	2,055	1,812	1,573
	385	367	343	341	348	902	950	907	897	882	969	946
CWIP	18	9	15	38	68	84	22	21	15	14	10	11
Investments	318	605	322	116	107	101	102	101	3	4	2	19
	1,157	1,260	1,394	1,663	1,390	1,486	1,435	1,277	1,109	1,155	831	598
Total Assets	1,877	2,241	2,075	2,158	1,913	2,573	2,508	2,307	2,024	2,055	1,812	1,573

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	36	25	136	63	139	94	33	-2	70	100	83	80
	-126	-245	307	-7	254	-19	9	-15	-1	-30	-10	-18
	92	222	-448	-54	-397	-36	-84	15	-64	-75	-73	-60
Net Cash Flow	2	3	-5	2	-4	39	-42	-2	5	-5	-0	1
Free Cash Flow	17	32	121	34	93	68	18	-15	76	91	70	61
CFO/OP	49%	38%	144%	74%	196%	188%	53%	3%	121%	183%	-186%	1,525%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Debtor Days	45	60	48	42	36	49	45	54	62	65	63	61
Inventory Days
Days Payable
Cash Conversion Cycle	45	60	48	42	36	49	45	54	62	65	63	61
Working Capital Days	-26	-5	39	178	47	-27	38	2	-43	-12	-46	-204
ROCE %	6%	5%	5%	6%	6%	4%	3%	3%	4%	4%	3%	4%

Insights

In beta

Mar 2015

Mar 2016

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Connected Load
MVA

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Power Units Purchased
MU

Power Units Sold (License Area)
MU

T&D Loss Percentage
%

Consumer Base (Total Consumers)
Numbers

Reliability Index
%

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026
	59.49%	59.49%	59.49%	59.47%	59.47%	59.47%	59.47%	59.47%	59.36%	59.33%	59.33%	59.33%
	0.00%	0.01%	0.00%	0.25%	0.14%	0.12%	0.14%	0.15%	0.14%	0.14%	0.13%	0.13%
	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%
	40.38%	40.37%	40.38%	40.16%	40.27%	40.28%	40.27%	40.25%	40.38%	40.41%	40.42%	40.42%
No. of Shareholders	34,661	41,049	59,233	92,956	98,434	1,13,133	1,14,482	1,14,196	1,13,656	1,11,928	1,09,085	1,07,524

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	59.49%	59.49%	59.49%	59.49%	59.49%	59.49%	59.49%	59.47%	59.47%	59.33%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.25%	0.15%	0.13%
	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%	0.12%
	39.46%	40.38%	40.38%	40.38%	40.38%	40.38%	40.38%	40.16%	40.25%	40.42%
No. of Shareholders	2,427	3,930	3,801	4,106	6,032	31,841	34,523	92,956	1,14,196	1,07,524

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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India Power Corporation Ltd

India Power Corporation Ltd

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Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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