Power Grid Corporation of India Ltd

Power Grid Corporation of India is principally engaged in planning, implementation, operation and maintenance of Inter-State Transmission System (ISTS), Telecom and consultancy services.(Source : 201903 Annual Report Page No: 182)

  • Market Cap: 99,636 Cr.
  • Current Price: 190.45
  • 52 weeks High / Low 216.25 / 172.50
  • Book Value: 119.23
  • Stock P/E: 9.63
  • Dividend Yield: 4.37 %
  • ROCE: 10.56 %
  • ROE: 22.04 %
  • Sales Growth (3Yrs): 18.19 %
  • Listed on BSE and NSE
  • Company Website
  • Face Value: 10.00
Pros:
Stock is providing a good dividend yield of 4.37%.
Company has good consistent profit growth of 22.58% over 5 years
Company has been maintaining a healthy dividend payout of 35.81%
Cons:
Company has low interest coverage ratio.
Promoter holding has decreased by -0.41% over last quarter
Tax rate seems low
Company might be capitalizing the interest cost
** Remarks:
Some businesses are provided tax benefits to encourage their development

Peer Comparison Sector: Power Generation & Distribution // Industry: Power Generation And Supply

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Quarterly Results Standalone Figures in Rs. Crores / View Consolidated

Dec 2016 Mar 2017 Jun 2017 Sep 2017 Dec 2017 Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019
6,630 6,706 7,181 7,253 7,507 7,814 8,131 8,289 8,481 9,218 8,804 8,685
679 1,089 981 778 871 1,576 1,200 1,311 902 6,850 914 1,128
Operating Profit 5,951 5,617 6,200 6,475 6,636 6,238 6,931 6,978 7,580 2,368 7,890 7,557
OPM % 90% 84% 86% 89% 88% 80% 85% 84% 89% 26% 90% 87%
Other Income 158 427 278 321 278 285 1,345 1,543 1,118 392 424 850
Interest 1,643 1,556 1,762 1,867 1,955 2,006 2,141 2,310 2,275 2,366 2,359 2,376
Depreciation 1,965 2,063 2,131 2,235 2,319 2,406 2,451 2,548 2,605 2,597 2,659 2,748
Profit before tax 2,501 2,425 2,585 2,693 2,640 2,111 3,684 3,663 3,817 -2,203 3,296 3,283
Tax % 23% 21% 21% 21% 23% 5% 39% 37% 39% 239% 26% 23%
Net Profit 1,930 1,916 2,052 2,141 2,041 2,010 2,242 2,311 2,332 3,054 2,428 2,527
EPS in Rs 3.69 3.66 3.92 4.10 3.90 3.84 4.28 4.42 4.46 5.84 4.64 4.83
Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes Notes

Profit & Loss Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 TTM
4,615 5,690 7,127 8,286 10,051 12,679 15,115 17,177 20,666 25,710 29,765 34,119 35,188
889 1,156 1,375 1,503 1,812 2,120 2,456 2,620 2,460 3,227 3,965 5,134 9,794
Operating Profit 3,725 4,534 5,752 6,783 8,239 10,558 12,659 14,558 18,206 22,483 25,800 28,986 25,395
OPM % 81% 80% 81% 82% 82% 83% 84% 85% 88% 87% 87% 85% 72%
Other Income 310 431 397 866 874 974 768 796 650 1,054 4,436 -731 2,784
Interest 1,340 1,642 1,543 1,625 1,943 2,535 3,168 3,979 5,135 6,304 7,591 9,091 9,377
Depreciation 965 1,094 1,980 2,199 2,573 3,352 3,996 5,085 6,180 7,663 9,091 10,201 10,609
Profit before tax 1,731 2,229 2,626 3,825 4,598 5,645 6,264 6,289 7,541 9,570 13,554 8,962 8,193
Tax % 16% 24% 22% 29% 29% 25% 28% 21% 21% 21% 39% -11%
Net Profit 1,448 1,691 2,041 2,697 3,255 4,234 4,497 4,979 5,948 7,520 8,245 9,939 10,341
EPS in Rs 3.24 3.81 4.60 5.54 6.69 9.15 8.16 9.12 10.95 14.37 15.76 19.00 19.77
Dividend Payout % 35% 30% 31% 30% 30% 30% 30% 21% 20% 30% 33% 44%
* Sales is net of excise duty and discounts
Compounded Sales Growth
10 Years:19.62%
5 Years:17.68%
3 Years:18.19%
TTM:10.86%
Compounded Profit Growth
10 Years:21.86%
5 Years:22.58%
3 Years:28.09%
TTM:20.20%
Stock Price CAGR
10 Years:5.39%
5 Years:5.17%
3 Years:-2.35%
1 Year:2.61%
Return on Equity
10 Years:15.84%
5 Years:16.24%
3 Years:17.26%
Last Year:22.04%

Balance Sheet Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Sep 2019
4,209 4,209 4,209 4,630 4,630 4,630 5,232 5,232 5,232 5,232 5,232 5,232 5,232
Reserves 9,545 10,640 11,932 16,737 18,858 21,610 29,228 32,935 38,580 44,576 49,183 53,786 57,143
Borrowings 22,263 28,465 34,417 40,883 53,402 68,188 83,170 95,045 108,255 118,698 131,213 146,086 137,070
7,239 11,042 13,062 18,333 16,778 20,235 25,458 29,417 32,596 35,013 39,093 48,314 51,365
Total Liabilities 43,256 54,356 63,620 80,583 93,667 114,663 143,088 162,629 184,663 203,518 224,721 253,418 250,810
27,355 31,128 32,061 37,224 47,662 61,401 73,154 89,686 114,942 135,508 153,610 163,860 164,399
CWIP 8,758 13,286 20,422 23,713 28,184 34,824 49,477 52,924 43,795 35,884 30,307 33,578 33,105
Investments 1,736 1,593 1,453 1,398 1,284 1,148 999 926 841 1,330 1,608 2,757 3,272
5,407 8,349 9,683 18,248 16,537 17,291 19,458 19,092 25,084 30,796 39,195 53,223 50,033
Total Assets 43,256 54,356 63,620 80,583 93,667 114,663 143,088 162,629 184,663 203,518 224,721 253,418 250,810

Cash Flows Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
2,991 6,591 6,619 5,565 6,403 11,284 15,399 15,042 15,120 21,251 21,881 23,149
-5,343 -9,157 -9,661 -13,128 -15,834 -21,948 -26,518 -23,843 -20,904 -23,434 -22,981 -18,648
3,021 3,129 3,890 7,966 8,089 9,990 13,874 6,447 5,273 3,871 -612 -2,374
Net Cash Flow 669 563 849 402 -1,343 -675 2,756 -2,355 -512 1,688 -1,712 2,127

Ratios Standalone Figures in Rs. Crores / View Consolidated

Mar 2008 Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019
ROCE % 10% 10% 9% 10% 9% 10% 9% 8% 9% 10% 12% 11%
Debtor Days 87 88 113 49 54 41 38 45 48 46 45 50
Inventory Turnover 21.34 20.84 22.18 22.80 24.44 25.55 23.91 23.68 28.20 31.13 29.75 29.34

Credit Ratings