Power Grid Corporation of India Ltd. share price target

Aided by higher capitalisation and better execution, Power Grid Corporation of India (PGCIL) has topped our estimate on revenue front in 2QFY17, which surged by 28.5% yoy to Rs62.2bn vs. our estimate of Rs 61.0bn. Driven by superior operating efficiency, PAT spiked by 32.8% yoy to Rs18.7bn, while reported EBITDA rose by 190bps yoy to Rs56.0bn. As we believe that PGCIL's fundamentals would continue to remain strong supported by least exposure to operational risks with huge capex in the pipeline, we continue to remain positive on PGCIL and reiterate our BUY...

ICICI Securities Ltd | Retail Equity Research Net sales came in at | 6119.9 crore as per the new Ind AS. This was ahead of our estimate of | 5800 crore. The key beat came in from transmission segment revenues, which came in at | 5838.2 crore, up 29.3% YoY, way ahead of our estimate of | 5470.9 crore. Consultancy...

PGCILs 1QFY17 APAT at Rs 18bn (33%YoY growth) was 5% ahead of our estimates of Rs 17.1bn. Beat was driven by better-than-expected telecom, consultancy and other income. Transmission income at Rs 58.4bn (29%YoY growth) was largely in line with our estimates of Rs 58.9bn.

Aided by higher capitalisation and better execution, Power Grid Corporation of India's (PGCIL) revenue surged by 29.4% yoy to Rs60.6bn in 1QFY17 topping our estimate of Rs 57.6bn. While PAT spiked by 35.5% yoy to Rs18.1bn, reported EBITDA rose by 40 bps yoy to Rs54.1bn. With huge capex in the pipeline, we believe that PGCIL's fundamentals would continue to remain strong supported by least exposure to operational risks i.e. fuel and SEBs' weak financials. Hence, we continuing to remain positive on PGCIL, we reiterate our BUY recommendation...

Background: Power Grid Corporation Indian Limited (PGCIL) is the Central Transmission Utility (CTU) of the country under Ministry of Power and is one amongst the largest Power Transmission utilities in the world. PGCIL is playing a vital role in the growth of Indian power sector by developing a robust Integrated National Grid and associating in the flagship programme of Govt. of India to provide Power for all. The company has 129,407 ckm of transmission lines, 207 sub stations,...

Background: Power Grid Corporation Indian Limited (PGCIL) is the Central Transmission Utility (CTU) of the country under Ministry of Power and is one amongst the largest Power Transmission utilities in the world. PGCIL is playing a vital role in the growth of Indian power sector by developing a robust Integrated National Grid and associating in the flagship programme of Govt. of India to provide Power for all. The company has 129,407 ckm of transmission lines, 207 sub stations,...

Champa-Kurukshetra HVDC line is delayed to July 2016 from our earlier target of end-March 2016. The delay is due to technical reasons attributable to a major vendor. The issues have now been addressed....

by10%. We build inRs 300bn. led bycommissioning of partof ChampaKurukshetra PoleIandGayaVaranasiline(Rs15bn). 9 PGCIL has maintained its earlier capex guidance of Rs 225bn for FY17 and guided for...