Power Grid Corporation of India Ltd. share price target

Rs2.44trn worth of opportunities over the next decade: As per the National Electricity Plan for transmission released in Dec’22, total estimated investment in transmission sector over FY23-FY32 is Rs2.44trn, for integration of >500GW of renewable capacity. This does not include investments in battery storage.

Steady Q3 performance with 11% YoY growth each in revenue and net profit

Power Grid Corporation of India (PGCIL) has reported another stable quarter in Q3FY23. On a consolidated basis, reported revenue grew 7.8% YoY to Rs113bn, while EBITDA was up 8.5% to Rs99bn and reported PAT was up 10.7% at Rs36.5bn. Adjusted PAT at Rs33.8bn was up 2.5% YoY.

As per the ISTS expansion plan, investment of Rs1.4trn is expected over FY23-27 in transmission space, including Rs373bn over FY23-FY24, mainly through TBCB route.

Power Grid Corporation of India (PGCIL) has reported another stable quarter of growth in Q2FY23. On a consolidated basis, reported revenue grew 8.6% YoY to Rs111.5bn, while EBITDA was up 3.5% to Rs94.3bn and reported PAT was up 8.1% at Rs36.5bn. Adjusted PAT at Rs34.1bn was up 3.7% YoY.

Power Grid Corporation of India’s (PGCIL) reported revenues for Q1FY23 were up 6.7% YoY to Rs109bn.