Power Grid Corporation of India Limited, is an Indian government electricity board and a Maharatna Public Sector Undertaking owned by Ministry of Power, Government of India which is headquartered in Gurugram, India and engaged mainly in Transmission of Power. Powergrid transmits about 50% of the total power generated in India on its transmission network. Its former subsidiary company, Power System Operation Corporation Limited handles power management for National Grid and all state transmission utilities.

Power grid also operates a telecom business under the name Powertel.Shri Kandikuppa Sreekant serves as the Chairman and Managing Director of the company. Power Grid Corporation of India Limited was incorporated on 23 October 1989 with an authorized share capital of Rs. 5,000 Crore (subsequently enhanced to Rs. 10,000 Crore in Financial Year 2007–08) as a public limited company, wholly owned by the Government of India.

Power grid is listed on both the BSE and the NSE. As of 30 September 2010, there were 792,096 equity shareholders holders in Power grid. Initially, Power grid managed transmission assets owned by NTPC, NHPC Limited and Neepco Limited. In January 1993, the Power Transmission Systems Act transferred ownership of the three power companies to Powergrid.All employees of the three companies subsequently became Power grid employees.

Its original name was the ‘National Power Transmission Corporation Limited, and it was charged with planning, executing, owning, operating and maintaining high-voltage transmission systems in the country. Their name was subsequently changed to Power Grid Corporation of India Limited.Powergrid started functioning on a management basis with effect from August 1991 and subsequently, it took over transmission assets from NTPC,NHPC, NEEPCO, NLC, NPC, THDC, SJVNL etc. in a phased manner and it commenced commercial operation in 1992–93. In addition to this, it also took over the operation of existing Regional Load Dispatch Centers from Central Electricity Authority, in a phased manner from 1994 to 1996, which have been upgraded.

According to its mandate, the corporation, apart from providing a transmission system for evacuation of central sector power, is also responsible for the Establishment and Operation of Regional and National Power Grids to facilitate the transfer of power within and across the Regions with Reliability, Security, and Economy on sound commercial principles. Based on its performance Power grid was recognized as a Mini-Ratna Category-I Public Sector Undertaking in October 1998. It is conferred with the status of “Navratna” by the Government of India in May 2008 and “Maharatna” status in October 2019.

Power grid, as the Central Transmission Utility of the country, is playing a major role in the Indian Power Sector and is also providing Open Access to its inter-State transmission system.Powergrid operates throughout India. Its transmission network consists of roughly 1,53,635 circuit kilometers and 243 EHVAC and HVDC substations, which provide total transformation capacity of 3,67,097 MVA. Power grid’s interregional capacity is 75,050 MW. Examples of Powergrid-owned stations include the Vizag back-to-back HVDC converter station, the Chandrapur back-to-back HVDC converter station, the India Sri Lanka HVDC Interconnection, and the Talcher–Kolar HVDC system.

Price Performance
1 Week -2.44%
1 Month -5.21%
3 Months 13.59%
YTD 13.59%
1 Year 35.54%
3 Years 11.59%

BROKER RESEARCH
12 Feb, 2021:Sharekhan,BUY,Reco Price 212.75,Target Price 245.
21 Dec, 2020:Sharekhan,BUY,Reco Price 185.45,Target Price 220.
12 Nov, 2020:Emkay Global Financial Services,BUY,Reco Price 189.45,Target Price 220.
12 Nov, 2020:Dolat Capital,BUY,Reco Price 189.45,Target Price 230.

Shareholding pattern
Promoter 51.34
FII 26.74
DII 15.53
PUBLIC 6.39

PEERS Companies: NTPC,Adani Trans,Tata Power,Adani Power.

Annual results in brief:(Rs.crore)
.                                   Mar ‘ 20           ’19 Mar ‘            ’18 Mar’
.Sales                        36,185.54               34,119.12      29,752.46
.Operating profit    31,401.72               29,282.12         25,937.67
.Interest                   9,813.62                9,091.42        7,590.66
.Gross profit           23,720.53              21,689.65       19,360.87
.EPS (Rs)                   20.67                     19.00             15.75

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