India Power Corporation Ltd

India Power Corporation Ltd

₹ 18.4 0.16%
14 Jun 3:50 p.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
IPCL is among the top 10 power distribution companies in India. [1] The company's business activities consist of two segments viz.,
a) Regulated Business (96%), which consists of 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 (4%), consists of all business that is independent and has no bearing with the Regulated business. [2]

  • Market Cap 1,787 Cr.
  • Current Price 18.4
  • High / Low 28.0 / 11.0
  • Stock P/E 104
  • Book Value 10.4
  • Dividend Yield 0.27 %
  • ROCE 4.37 %
  • ROE 1.70 %
  • Face Value 1.00

Pros

  • Company has reduced debt.
  • Company has been maintaining a healthy dividend payout of 30.2%
  • Company's working capital requirements have reduced from 29.7 days to 14.4 days

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 4.31% over past five years.
  • Company has a low return on equity of 1.15% over last 3 years.
  • Promoters have pledged 67.3% of their holding.
  • Earnings include an other income of Rs.45.7 Cr.

* 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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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
165.87 121.44 141.75 157.98 161.30 148.66 165.55 148.80 160.08 178.76 165.21 143.46 162.26
151.05 114.43 128.01 165.37 170.40 161.48 167.68 145.93 155.47 164.00 158.70 130.92 153.97
Operating Profit 14.82 7.01 13.74 -7.39 -9.10 -12.82 -2.13 2.87 4.61 14.76 6.51 12.54 8.29
OPM % 8.93% 5.77% 9.69% -4.68% -5.64% -8.62% -1.29% 1.93% 2.88% 8.26% 3.94% 8.74% 5.11%
6.13 12.84 4.53 25.44 35.88 34.26 23.39 17.47 20.21 7.04 14.10 9.13 16.07
Interest 7.90 8.69 8.86 9.04 6.43 10.24 9.17 8.76 9.76 9.54 8.38 7.80 7.12
Depreciation 7.05 7.12 7.20 7.21 7.13 7.22 7.24 7.22 7.36 8.33 8.12 8.48 8.51
Profit before tax 6.00 4.04 2.21 1.80 13.22 3.98 4.85 4.36 7.70 3.93 4.11 5.39 8.73
Tax % 32.83% 26.24% 27.15% 26.67% 28.29% 28.39% 26.80% 28.67% 17.79% 30.03% 29.68% 26.16% 13.40%
4.03 2.98 1.61 1.31 9.49 2.84 3.55 3.12 6.33 2.75 2.89 3.98 7.56
EPS in Rs 0.04 0.03 0.02 0.01 0.10 0.03 0.04 0.03 0.07 0.03 0.03 0.04 0.08
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
695 718 720 833 736 526 481 525 582 623 650
604 622 621 1,112 638 471 431 456 573 630 607
Operating Profit 91 97 99 -279 98 55 50 70 10 -7 43
OPM % 13% 13% 14% -33% 13% 10% 10% 13% 2% -1% 7%
3 2 17 685 232 75 50 18 73 95 46
Interest 35 46 50 143 203 91 46 38 33 38 33
Depreciation 15 15 19 58 93 16 29 30 29 29 33
Profit before tax 44 37 47 205 34 23 25 20 21 21 22
Tax % 35% 34% 19% 11% 41% 30% 47% -28% 28% 24% 22%
29 25 38 182 20 16 13 26 15 16 17
EPS in Rs 0.29 0.25 0.39 1.80 0.20 0.17 0.14 0.27 0.16 0.16 0.18
Dividend Payout % 17% 20% 13% 3% 25% 30% 37% 19% 32% 31% 28%
Compounded Sales Growth
10 Years: -1%
5 Years: 4%
3 Years: 7%
TTM: 4%
Compounded Profit Growth
10 Years: -5%
5 Years: 5%
3 Years: -13%
TTM: 8%
Stock Price CAGR
10 Years: 1%
5 Years: 9%
3 Years: 4%
1 Year: 47%
Return on Equity
10 Years: 0%
5 Years: 1%
3 Years: 1%
Last Year: 2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 97 97 97 97 97 97 97 97 97 97 97
Reserves 846 933 985 4,907 4,929 1,062 1,520 1,543 1,271 908 919
392 555 2,518 3,741 3,843 468 342 299 328 282 213
378 332 781 1,079 1,115 606 606 568 602 732 830
Total Liabilities 1,713 1,918 4,382 9,825 9,985 2,234 2,566 2,507 2,298 2,020 2,059
308 391 424 1,956 1,897 399 902 950 907 897 882
CWIP 51 20 2,398 4,211 5,121 68 84 22 21 15 14
Investments 208 312 7 1,387 379 106 100 100 99 3 3
1,147 1,194 1,553 2,271 2,587 1,661 1,480 1,436 1,271 1,105 1,160
Total Assets 1,713 1,918 4,382 9,825 9,985 2,234 2,566 2,507 2,298 2,020 2,059

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
151 22 49 108 105 215 92 33 -5 68 85
-257 -128 -701 369 -110 232 -13 10 -11 -1 -18
111 110 640 -461 -30 -469 -40 -84 15 -64 -72
Net Cash Flow 5 4 -12 15 -35 -21 39 -42 -1 4 -5

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 48 50 67 91 122 145 49 46 53 62 76
Inventory Days 86
Days Payable 2,459
Cash Conversion Cycle 48 50 67 91 122 145 49 46 53 62 -2,297
Working Capital Days 33 40 43 262 160 187 100 126 71 4 14
ROCE % 6% 4% 0% 2% 2% 4% 3% 3% 4%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
59.49% 59.49% 59.49% 59.49% 59.49% 59.49% 59.49% 59.49% 59.49% 59.49% 59.49% 59.47%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.01% 0.00% 0.25%
0.12% 0.12% 0.14% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12% 0.12%
40.38% 40.38% 40.37% 40.38% 40.38% 40.38% 40.38% 40.38% 40.38% 40.37% 40.38% 40.16%
No. of Shareholders 9,74311,17925,54631,84133,52434,11734,44734,52334,66141,04959,23392,956

* 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.

Click on the line-items to see the names of individual entities.

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