India Grid Trust

India Grid Trust Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

India Grid Trust

₹ 144 -0.47%
11 Dec 3:55 p.m.
indigrid.co.in BSE: 540565 NSE: INDIGRID
About

India Grid Trust (IndiGrid) is the India's first listed power sector infrastructure investment trust, sponsored by KKR and Sterlite Power. It was established in 2016 to own and operate power transmission and renewable energy assets in India.[1]
The Trust primarily acquires operational transmission SPVs (Special Purpose Vehicles) from a Sponsor or from a third party. [2]

The entity is not a public/ private company. It is an infrastructure investment trust (InvIT). There are no shareholders of a trust. Rather, there are unit holders who have the right to receive at-least 90% of the Net Distributable Cashflows of the Trust at least once in every six months in each financial year in accordance with the InvIT regulations.
Also, a unitholder has no equitable or proprietary interest in the projects of IndiGrid and is not entitled to any share in the transfer of projects or any interest in the projects of IndiGrid.[3]

Key Points

Projects/ Assets
As of November 10, 2022, the trust has a portfolio of a total circuit length of approx. ~7,790 cKms (across 42 transmission lines), ~14,550 MVA (across 12 substations) of transformation capacity, and 100 MW of solar power assets across 19 states and 1 union territory in India. Most of the trust's projects have in place long-term TSAs of 35 years from the scheduled commercial operation. [1][2]

Website BSE NSE
  • Market Cap ₹ 12,025 Cr.
  • Current Price ₹ 144
  • High / Low ₹ 152 / 128
  • Stock P/E 32.1
  • Book Value ₹ 67.5
  • Dividend Yield 5.21 %
  • ROCE 7.08 %
  • ROE 4.56 %
  • Face Value ₹ 100
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Pros

  • Company has been maintaining a healthy dividend payout of 128%

Cons

  • Company has low interest coverage ratio.
  • Promoter holding has decreased over last quarter: -17.6%
  • Promoter holding is low: 3.61%
  • Tax rate seems low
  • Company has a low return on equity of 6.50% over last 3 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.

Peer comparison

Sector: Infrastructure Investment Trusts Industry: Power Generation And Supply

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024
555 579 559 573 594 607 618 653 716 783 814 866 836
50 46 68 61 48 55 66 64 141 79 142 77 77
Operating Profit 505 533 491 512 547 552 551 589 576 704 672 789 759
OPM % 91% 92% 88% 89% 92% 91% 89% 90% 80% 90% 83% 91% 91%
6 2 11 14 2 0 7 1 4 6 11 8 4
Interest 267 262 249 257 250 251 253 285 321 350 352 377 384
Depreciation 178 177 149 180 169 174 181 191 222 262 264 273 276
Profit before tax 66 96 104 88 129 127 124 115 37 97 66 146 103
Tax % -4% 2% 4% 6% 3% 6% -10% 7% -6% 6% 12% 6% 4%
68 94 100 83 126 120 137 107 39 92 58 137 99
EPS in Rs 1.06 1.32 1.38 1.16 1.75 1.68 1.93 1.49 0.49 1.14 0.71 1.71 1.22
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 TTM
448 666 1,243 1,677 2,222 2,332 2,864 3,298
40 109 53 252 209 231 425 374
Operating Profit 408 557 1,190 1,425 2,013 2,101 2,439 2,923
OPM % 91% 84% 96% 85% 91% 90% 85% 89%
13 8 36 35 52 82 123 28
Interest 101 230 415 687 1,050 1,011 1,308 1,464
Depreciation 116 181 310 430 665 704 939 1,075
Profit before tax 204 155 500 342 349 469 315 413
Tax % -3% 0% -1% 2% 2% 1% 6%
210 154 506 334 343 466 296 386
EPS in Rs 6.18 4.52 7.22 4.77 4.98 6.51 3.64 4.78
Dividend Payout % 129% 221% 126% 194% 241% 48% 95%
Compounded Sales Growth
10 Years: %
5 Years: 34%
3 Years: 20%
TTM: 27%
Compounded Profit Growth
10 Years: %
5 Years: 9%
3 Years: -12%
TTM: -5%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 0%
1 Year: 11%
Return on Equity
10 Years: %
5 Years: 8%
3 Years: 7%
Last Year: 5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 2,838 2,838 5,315 5,315 6,590 6,590 7,645
Reserves 25 -161 -266 -632 -1,172 -1,633 -2,355
2,396 2,612 6,388 14,576 13,339 14,505 19,304
119 58 356 777 800 750 1,163
Total Liabilities 5,379 5,346 11,792 20,035 19,557 20,212 25,757
5,026 4,983 10,816 16,390 16,838 17,841 22,710
CWIP 0 0 0 10 4 78 23
Investments 0 8 0 0 145 446 742
352 356 976 3,636 2,570 1,847 2,282
Total Assets 5,379 5,346 11,792 20,035 19,557 20,212 25,757

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
433 580 1,125 1,680 2,081 2,037 2,665
-4,624 -230 -6,091 -5,897 -1,517 -2,119 -6,104
4,358 -357 5,214 6,415 -1,983 -790 3,356
Net Cash Flow 167 -7 248 2,198 -1,419 -872 -83

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 87 63 72 65 64 65 57
Inventory Days
Days Payable
Cash Conversion Cycle 87 63 72 65 64 65 57
Working Capital Days 36 60 -6 4 14 37 32
ROCE % 7% 11% 7% 7% 8% 7%

Shareholding Pattern

Numbers in percentages

Shareholding pattern is currently not available for this company.

Documents

Announcements

Annual reports

Credit ratings

Concalls