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MarketScreener Homepage  >  Equities  >  MUMBAI STOCK EXCHANGE  >  Power Grid Corporation of India Limited    532898   INE752E01010

POWER GRID CORPORATION OF INDIA LIMITED

(532898)
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Power Grid of India : to Monetize Assets Worth Over $900 Million

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09/08/2020 | 09:45pm EDT

By P.R. Venkat

Power Grid Corp. of India Ltd. will monetize assets worth more than 70 billion rupees ($949.1 million) and use the proceeds to fund its new and under construction projects.

The approval to the state-run company was given by the Union cabinet, a government statement said late Tuesday.

The assets to be monetized include high voltage transmission lines and substations owned by Power Grid in the form of special purpose vehicles.

Asset recycling is a key strategy of the Indian government as a move to allow state-run units to raise capital from operational assets through an Infrastructure Investment Trust.

Power Grid is expected to attract both domestic as well as global investors including sovereign wealth funds in the trust, the statement said.

The government intends to carry out further monetization in future, it said.

The state-run company has a capital expenditure plan of INR205 billion for the next two fiscal years that began in April.

 

Write to P.R. Venkat at venkat.pr@wsj.com

 


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Financials
Sales 2021 395 B 5 303 M 5 303 M
Net income 2021 108 B 1 452 M 1 452 M
Net Debt 2021 1 310 B 17 578 M 17 578 M
P/E ratio 2021 8,17x
Yield 2021 6,48%
Capitalization 895 B 11 998 M 12 002 M
EV / Sales 2021 5,58x
EV / Sales 2022 4,91x
Nbr of Employees 8 990
Free-Float 48,6%
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Last Close Price 171,00 
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Managers
NameTitle
Kandikuppa Sreekant Chairman & Managing Director
Seema Gupta Operations Director & Executive Director
Mohammed Taj Mukarrum Chief Financial Officer & Executive Director
A. R. Mahalakshmi Independent Non-Executive Director
Sunil Kumar Sharma Independent Non-Executive Director
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