India Grid Trust

India Grid Trust Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

India Grid Trust

₹ 137 0.66%
03 Jul - close price
Company website BSE: 540565 NSE: INDIGRID
About

India Grid Trust (IndiGrid) is the India's first listed power sector infrastructure investment trust, sponsored by KKR and Sterlite Power. It was established in 2016 to own and operate power transmission and renewable energy assets in India.[1]
The Trust primarily acquires operational transmission SPVs (Special Purpose Vehicles) from a Sponsor or from a third party. [2]

The entity is not a public/ private company. It is an infrastructure investment trust (InvIT). There are no shareholders of a trust. Rather, there are unit holders who have the right to receive at-least 90% of the Net Distributable Cashflows of the Trust at least once in every six months in each financial year in accordance with the InvIT regulations.
Also, a unitholder has no equitable or proprietary interest in the projects of IndiGrid and is not entitled to any share in the transfer of projects or any interest in the projects of IndiGrid.[3]

Key Points

Projects/ Assets
As of November 10, 2022, the trust has a portfolio of a total circuit length of approx. ~7,790 cKms (across 42 transmission lines), ~14,550 MVA (across 12 substations) of transformation capacity, and 100 MW of solar power assets across 19 states and 1 union territory in India. Most of the trust's projects have in place long-term TSAs of 35 years from the scheduled commercial operation. [1][2]

Website BSE NSE
  • Market Cap ₹ 10,707 Cr.
  • Current Price ₹ 137
  • High / Low ₹ 140 / 121
  • Stock P/E 10.3
  • Book Value ₹ 102
  • Dividend Yield 10.3 %
  • ROCE 9.90 %
  • ROE 14.0 %
  • Face Value ₹ 100
Edit ratios

Pros

  • Company has been maintaining a healthy dividend payout of 46.2%

Cons

  • Company has low interest coverage ratio.
  • Tax rate seems low
  • Working capital days have increased from 53.0 days to 81.0 days

* 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: Infrastructure Investment Trusts Industry: Power Generation And Supply

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
332 498 522 518 508 540 548 560 581 624 640 695 758
-112 58 1 59 65 5 72 110 19 86 121 123 27
Operating Profit 443 440 521 460 444 535 476 450 561 539 518 572 731
OPM % 134% 88% 100% 89% 87% 99% 87% 80% 97% 86% 81% 82% 96%
0 0 0 2 0 0 0 0 0 0 0 0 0
Interest 125 233 238 240 232 251 245 251 254 286 321 354 347
Depreciation 0 0 0 0 0 0 0 0 0 0 0 0 0
Profit before tax 319 208 283 222 211 284 231 198 307 252 197 218 385
Tax % -0% 0% 0% 0% 0% 0% 0% 1% 0% 0% 0% 1% -0%
319 207 282 221 211 283 230 197 307 252 197 216 385
EPS in Rs 4.56 2.95 4.02 3.16 3.01 4.04 3.28 2.81 4.39 3.60 2.69 2.75 4.91
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
0 60 354 324 553 1,055 1,249 2,003 2,181 2,601
27 15 43 3 242 279 -251 182 207 357
Operating Profit -27 45 311 321 311 777 1,500 1,820 1,974 2,244
OPM % 75% 88% 99% 56% 74% 120% 91% 91% 86%
46 20 6 -48 3 18 8 46 48 117
Interest 56 94 330 10 102 298 435 943 1,001 1,307
Depreciation 2 37 96 0 0 0 0 0 1 1
Profit before tax -39 -66 -109 262 212 497 1,072 923 1,020 1,052
Tax % -2% 30% 28% 0% 0% 1% -0% 0% 0% 0%
-40 -47 -78 262 211 491 1,072 921 1,017 1,049
EPS in Rs 7.71 6.20 7.01 15.32 13.15 14.52 13.39
Dividend Payout % 0% 0% 0% 103% 161% 130% 60% 91% 21% 26%
Compounded Sales Growth
10 Years: %
5 Years: 36%
3 Years: 28%
TTM: 19%
Compounded Profit Growth
10 Years: 39%
5 Years: 38%
3 Years: -1%
TTM: 3%
Stock Price CAGR
10 Years: %
5 Years: %
3 Years: 1%
1 Year: -1%
Return on Equity
10 Years: %
5 Years: 15%
3 Years: 15%
Last Year: 14%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 0 18 18 2,838 2,838 5,315 5,315 6,590 6,590 7,645
Reserves -6 296 218 77 -52 -171 195 229 330 358
2,611 3,355 3,767 994 1,680 3,948 10,551 12,470 14,493 18,148
698 380 230 59 23 210 272 254 233 252
Total Liabilities 3,303 4,049 4,232 3,968 4,489 9,302 16,332 19,544 21,646 26,402
23 1,700 3,968 0 0 0 0 8 7 6
CWIP 2,926 2,039 0 0 0 0 0 0 0 0
Investments 0 0 1 744 607 1,848 4,364 4,897 4,806 7,026
354 310 263 3,224 3,882 7,453 11,968 14,640 16,833 19,371
Total Assets 3,303 4,049 4,232 3,968 4,489 9,302 16,332 19,544 21,646 26,402

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
-15 19 261 -3 -10 -11 -100 -54 -21 -47
-1,439 -713 -311 -2,928 -228 -3,746 -5,083 -1,280 -675 -2,523
1,135 717 17 3,049 249 3,841 5,661 1,428 106 2,382
Net Cash Flow -319 23 -33 118 11 84 478 94 -590 -188

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2014 Mar 2015 Mar 2016 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 108 66 0 0 0 0 0 0 0
Inventory Days
Days Payable
Cash Conversion Cycle 108 66 0 0 0 0 0 0 0
Working Capital Days -1,063 31 1 25 -42 -63 13 65 81
ROCE % 1% 6% 7% 12% 12% 11% 10% 10%

Shareholding Pattern

Numbers in percentages

3 Recently

Shareholding pattern is currently not available for this company.

Documents

Announcements

Annual reports

Credit ratings

Concalls