PTC India Ltd

PTC India Ltd

₹ 196 -2.59%
27 Feb 4:01 p.m.
About

PTC India Limited was established in 1999 by the Government of India as a Public-Private Initiative and is in the power trading business. It is promoted by Power Grid Corporation of India Limited (PGCIL), NTPC Limited (NTPC), Power Finance Corporation Limited (PFC) and NHPC Limited (NHPC). [1][2]

Key Points

Pioneer in Power Trading
PTC undertakes trading activities which include long term trading of power generated from large power projects as well as short term trading arising as a result of supply and demand mismatches. It is co - promoter of India’s first electricity exchange (IEX) and does Cross Border Trade with Nepal, Bhutan & Bangladesh.[1] [2]

  • Market Cap 5,787 Cr.
  • Current Price 196
  • High / Low 255 / 84.0
  • Stock P/E 14.4
  • Book Value 139
  • Dividend Yield 4.01 %
  • ROCE 9.63 %
  • ROE 8.07 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Company is almost debt free.
  • Stock is providing a good dividend yield of 3.92%.
  • Company has been maintaining a healthy dividend payout of 57.0%
  • Company's working capital requirements have reduced from 46.7 days to 35.2 days

Cons

  • The company has delivered a poor sales growth of 5.64% over past five years.
  • Promoter holding is low: 16.2%
  • Company has a low return on equity of 10.5% 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: Trading Industry: Trading

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
3,484 3,593 4,621 5,124 3,055 2,831 4,017 4,602 2,888 3,381 4,570 4,880 3,225
3,325 3,419 4,512 4,964 2,940 2,609 3,908 4,511 2,781 3,246 4,458 4,762 3,146
Operating Profit 159 174 109 160 115 222 109 91 107 135 112 119 79
OPM % 5% 5% 2% 3% 4% 8% 3% 2% 4% 4% 2% 2% 2%
1 -57 1 1 2 2 2 3 6 61 10 50 9
Interest 7 9 5 9 10 13 11 9 7 2 2 2 2
Depreciation 1 1 1 1 1 1 1 1 1 1 1 1 1
Profit before tax 152 106 104 151 106 211 100 84 105 192 120 166 85
Tax % 26% 40% 26% 25% 25% 26% 26% 26% 26% 19% 25% 20% 26%
113 63 77 113 79 156 74 63 78 155 90 133 63
EPS in Rs 3.82 2.14 2.60 3.81 2.68 5.27 2.50 2.11 2.63 5.25 3.03 4.50 2.12
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
7,613 8,866 11,414 13,018 12,476 14,075 11,315 13,496 16,443 16,963 15,631 14,887 16,055
7,493 8,695 11,097 12,743 12,207 13,764 10,951 13,081 16,005 16,329 15,019 14,440 15,611
Operating Profit 120 171 318 275 268 311 364 414 438 634 612 447 444
OPM % 2% 2% 3% 2% 2% 2% 3% 3% 3% 4% 4% 3% 3%
77 14 58 36 184 238 203 132 45 -32 6 72 130
Interest 27 2 7 5 105 137 120 145 58 34 43 34 7
Depreciation 4 4 4 4 4 3 3 3 3 3 4 4 4
Profit before tax 166 178 364 301 344 409 445 397 423 566 571 481 563
Tax % 27% 28% 31% 33% 32% 29% 28% 34% 24% 27% 26% 23%
120 129 251 203 234 291 319 262 320 410 425 370 441
EPS in Rs 4.08 4.35 8.49 6.86 7.92 9.83 10.78 8.86 10.81 13.86 14.35 12.49 14.90
Dividend Payout % 37% 37% 24% 32% 32% 31% 37% 45% 51% 54% 54% 62%
Compounded Sales Growth
10 Years: 5%
5 Years: 6%
3 Years: -3%
TTM: 12%
Compounded Profit Growth
10 Years: 10%
5 Years: 1%
3 Years: 0%
TTM: 8%
Stock Price CAGR
10 Years: 12%
5 Years: 21%
3 Years: 40%
1 Year: 129%
Return on Equity
10 Years: 10%
5 Years: 10%
3 Years: 11%
Last Year: 8%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 295 296 296 296 296 296 296 296 296 296 296 296 296
Reserves 1,955 2,030 2,212 2,343 2,590 2,779 2,924 3,032 3,217 3,406 3,619 3,836 3,828
0 0 0 0 734 721 689 973 833 957 1,232 202 342
1,362 1,196 1,206 1,739 2,563 2,809 2,305 3,044 4,487 3,745 4,418 4,109 4,819
Total Liabilities 3,612 3,521 3,715 4,378 6,183 6,604 6,214 7,346 8,833 8,404 9,564 8,443 9,285
34 33 30 27 25 25 23 22 21 21 22 19 19
CWIP 0 0 0 0 0 0 0 0 0 0 0 0 0
Investments 824 924 960 1,454 1,369 2,268 1,746 1,604 1,617 1,957 1,778 1,647 1,847
2,754 2,564 2,725 2,896 4,789 4,311 4,445 5,720 7,195 6,426 7,765 6,777 7,419
Total Assets 3,612 3,521 3,715 4,378 6,183 6,604 6,214 7,346 8,833 8,404 9,564 8,443 9,285

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
-853 452 234 258 -181 941 -299 -482 -235 706 267 1,302
585 -94 -334 -142 323 -704 655 266 31 -354 171 -24
-77 -50 -54 -66 -230 -230 -243 -0 328 -125 14 -1,231
Net Cash Flow -345 308 -154 50 -88 7 114 -216 123 227 452 47

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 124 88 67 71 108 85 105 128 151 126 157 132
Inventory Days 2 1 0 0 0 0 0 0 0 0 0 0
Days Payable 62 48
Cash Conversion Cycle 64 41 67 71 108 85 105 128 151 126 157 132
Working Capital Days 65 41 31 24 38 15 36 51 54 48 57 35
ROCE % 7% 8% 15% 13% 14% 14% 15% 13% 11% 15% 12% 10%

Shareholding Pattern

Numbers in percentages

5 Recently
Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
16.22% 16.22% 16.22% 16.22% 16.22% 16.22% 16.22% 16.22% 16.22% 16.22% 16.22% 16.22%
31.95% 34.29% 34.68% 34.13% 33.18% 32.33% 31.67% 29.84% 28.87% 28.28% 27.47% 28.78%
12.54% 10.06% 9.59% 12.46% 9.82% 9.47% 9.04% 8.29% 8.35% 8.31% 7.82% 6.32%
0.03% 0.03% 0.03% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 3.38% 3.38% 3.38%
39.26% 39.40% 39.48% 37.19% 40.79% 41.99% 43.07% 45.65% 46.55% 43.81% 45.10% 45.30%
No. of Shareholders 1,56,2311,80,8551,81,8561,82,4472,02,6082,11,0532,15,2372,14,7692,04,9171,97,0152,05,9052,15,611

* 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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