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Power Grid Corporation Of India Limited
Sector:Power Power - Power - Others
BSE:532898NSE:POWERGRIDBloomberg:PWGR@INReuters:PGRD.BO
Market Lot: 1Face Value: 10ISIN Demat: INE752E01010
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30-May-2018
Business Profile
Power Grid Corporation of India was incorporated on Oct. 23, 1989 and was mandated with the establishment, operation and maintenance of regional & national power grids including load dispatch centers. The company started commercial operation in 1992 when it got its current name. The Government of India (GOI) has notified the company as a central transmission utility (CTU). R.P. Singh is the chairman and managing director of the company.

The company owns and operates most of India`s interstate and inter-regional electric power transmission system (ISTS). As of March 31, 2007 it owned and operated 59,461 circuit km of electrical transmission lines and 104 electrical substations, and had 48 transmission projects at various stages of implementation. In Fiscal 2006, It transmitted approximately 45% of all power generated in India. It manages the national grid with inter regional capacity of 13,700 MW, to be more than 37,000 MW by 2012. It developed the 2,000 MW Tala transmission project with Tata Power Company. It is currently establishing a national load dispatch centre to be complete in 2008. It holds 20.63% of the paid-up capital of Jaypee Powergrid.

The consultancy division provides transmission-related consultancy services to more than 90 clients in over 200 domestic and international projects. It facilitates the implementation of GoI-funded projects for distribution of electricity to end-users. It has created a telecommunication network principally using its overhead transmission infrastructure. It owns and operates a fiber-optic cable network that as on March 31, 2007 was over 19,000 km long and connected over 60 Indian cities including all major metropolitan areas. It leases bandwidth on this network to more than 60 customers including Bharat Sanchar Nigam, Videsh Sanchar Nigam, ..etc.

The company is a Mini Ratna Category-I public sector undertaking since October 1998 and has received the highest annual performance rating from the GoI in each year since Fiscal 1994. It is ISO 9001 and ISO 14001 certified.

The registered office is at B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi 110016 and corporate office at Saudamini, Plot No.2, Sector 29, Gurgaon 122001.


Financials
The company announced rise of 4.61% in standalone net profit on y-o-y basis to Rs 20.05 billion, while total income climbed 9.56% y-o-y basis to Rs 80.99 billion for the quarter ended March 2018.

Recent Developments
13-MAR-18
Power Grid Corporation of India (PGCIL) has entered into a term loan facility agreement for Rs 50 billion with State Bank of India on March 12, 2018 for meeting capital expenditure for expansion / renovation and setting up various undergoing and new transmission and other projects in the company and in identified SPVs / JVs of the company.

04-DEC-17
Transformers and Rectifiers (India) has been awarded order for 15 number of transformer amounting to Rs 1.27 billion from Power Grid Corporation of India (PGCIL). With this order, the company's order book as on date stands around Rs 9.37 billion.

18-AUG-17
Power Grid Corporation of India has received an investment approval for 'HVDC Bipole link between Western Region (Raigarh, Chhattisgarh) and Southern Region (Pugalur, Tamil Nadu)-North Trichur (Kerala)-Scheme 2: AC System

19-JUN-17
Power Grid Corporation of India's (PGCIL) wholly owned subsidiary, Power Grid Warora Transmission, has successfully completed an element Gadarwara STPS-Jabalpur Pool 765kV D/C Transmission Line and declared the same for commercial operation on May 31, 2017

15-MAY-17
Power Grid Corporation of India has received its board's approval to launch USD 1 billion medium term note (MTN) programme to mobilise funds from international markets, and issue of rupee denominated Masala bond to raise up to Rs 50 billion.

06-APR-17
Power Grid Corporation of India (Power Grid) has entered into loan agreement(s) with Asian Development Bank (ADB) on April 05, 2017 for an amount of USD 225 million (including USD 50 million as Clean Technology Fund) for part funding of its Transmission projects associated with Solar Power Parks.

29-MAR-17
Power Grid Corporation of India (PGCIL) has acquired Medinipur - Jeerat Transmission, the Project SPV to establish Transmission System for '65kV Strengthening in Eastern Region (ERSS-XVIII)', on build, own, operate and maintain (BOOM) basis from PFC Consulting (the Bid Process Coordinator).

24-FEB-17
Power Grid Corporation of India, a leading power transmission company in India, has entered into loan agreement with Asian Development Bank (ADB) i.e. on 23.02.2017 for an amount not exceeding USD 500 million for part funding of its projects-Green Energy Corridors-ISTS (Part-D);



Future Plans
The IPO proceeds will be meet the capital requirements for the implementation of 15 identified transmission projects and for general corporate purposes.

It will invest a 26% equity stake in Torrent Power and Jaiprakash Hydro-Power for the development of dedicated private transmission lines.

Subject to government approvals, the company plans to spend Rs 550 billion towards
investment in transmission projects during the GOI`s Eleventh Five Year Plan, which begins on April 1, 2007 and ends on March 31, 2012. The goal in the Eleventh Five Year Plan is to achieve a national power grid with inter-regional power transfer capacity of more than 37,000 MW, which would include the company transmission system and others.

In Brief

 
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