Please refer to important disclosures at the end of this report
Power Grid Corporation of India Limited (PGCIL) is a transmission compan
engaged in the power transmission business with responsibility for planning,
implementation, operation and maintenance of Inter-State Transmission System
and operation of National and Regional Load Dispatch Centers. In FY17
management expects to continue seeing strong capitalisation backed b
Vishwanath-Agra Phase-2 and Champa HVDC projects which will keep up
earnings trajectory. PGCIL will spend `1 trillion over four years to expand its
network and connect areas affected by left-wing extremism, facilitating Prime
Minister Narendra Modi’s goals on village electrification, uninterrupted power fo
all and development of the North-east which will boost the company financial
performance. PGCIL is also planning an overseas expansion by bidding fo
global transmission projects jointly with private players which will help in
increasing its network worldwide and revenue in the long run. The company has
been maintaining a healthy dividend payout of 23.25% (Div Yield: 1.33%). The
company has an RoE of 14.77% of FY16 earnings. Hence Buy.
CMP `173
Stock Info
Beta 0.7
Bloomberg Code
Shareholding Pattern (%)
Promoters 57.9
MF / Banks / Indian Fls 11.2
FII / NRIs / OCBs 27.2
Indian Public / Others 3.6
Abs. (%) 3m 1yr 3yr
Sensex (1.6) 2.4 28.7
Power Grid Corp. (2.0) 35.4 78.2
Nifty 8,434
Reuters Code PGRD.BO
Face Value (
BSE Sensex 27,274
52 Week High / Low 188/127
Avg. Daily Volume 2,98,220
Market Cap (
cr) 90,742
Vaibhav Agrawal
022 – 3935 7800 Ext: 6808
Power Grid Corporation of India
Others | Powe
November 5, 2016
Power Grid Corporation of India | Power
November 5, 2016
Research Team Tel: 022 - 39357800 E-mail: [email protected] Website:
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Disclosure of Interest Statement Power Grid Corporation of India
1. Financial interest of research analyst or Angel or his Associate or his relative No
2. Ownership of 1% or more of the stock by research analyst or Angel or associates or relatives No
3. Served as an officer, director or employee of the company covered under Research No
4. Broking relationship with company covered under Research No
Ratings (Based on expected returns Buy (> 15%) Accumulate (5% to 15%) Neutral (-5 to 5%)