Buy Power Grid Corporation of India, target price Rs 255: JM Financial
The brokerage expects Power Grid to grow at 12% YoY with net sales at INR 119bn, and maintain EBITDA margin (88%).
By ETMarkets.com | Updated:
Reuters
JM Financial has buy call on Power Grid Corporation of India with a target price of Rs 255. The current market price of Power Grid Corporation of India is Rs 229.25.
Power Grid Corporation of India key Products/Revenue Segments include Transmission Revenue, Other Operating Revenue, Consultancy Income and Income From Telecom for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 11530.22 Crore, up 1.59 % from last quarter Total Income of Rs 11349.44 Crore and up 7.52 % from last year same quarter Total Income of Rs 10723.61 Crore. Company has reported net profit after tax of Rs 3645.18 Crore in latest quarter.
The company’s top management includes Mr.K Sreekant, Mr.Dilip Nigam, Mr.K N Onkarappa, Mr.Ram Naresh Tiwari, Mr.Chetan Bansilal Kankariya, Mr.Ravisankar Ganesan, Mr.Abhay Choudhary, Mr.Vinod Kumar Singh, Mr.Ravindra Kumar Tyagi, Mr.Mohammad Afzal. Company has Umamaheswara Rao & Co. as its auditors. As on 31-12-2022, the company has a total of 698 Crore shares outstanding.
Investment Rationale
The brokerage expects Power Grid to grow at12% YoY with net sales at INR 119bn, and maintain EBITDA margin (88%).
Promoters held 51.34 per cent stake in the company as of 31-Dec-2022, while FIIs owned 32.76 per cent, DIIs 12.73 per cent.
Power Grid Corporation of India key Products/Revenue Segments include Transmission Revenue, Other Operating Revenue, Consultancy Income and Income From Telecom for the year ending 31-Mar-2022.
Financials
For the quarter ended 31-12-2022, the company has reported a Consolidated Total Income of Rs 11530.22 Crore, up 1.59 % from last quarter Total Income of Rs 11349.44 Crore and up 7.52 % from last year same quarter Total Income of Rs 10723.61 Crore. Company has reported net profit after tax of Rs 3645.18 Crore in latest quarter.
The company’s top management includes Mr.K Sreekant, Mr.Dilip Nigam, Mr.K N Onkarappa, Mr.Ram Naresh Tiwari, Mr.Chetan Bansilal Kankariya, Mr.Ravisankar Ganesan, Mr.Abhay Choudhary, Mr.Vinod Kumar Singh, Mr.Ravindra Kumar Tyagi, Mr.Mohammad Afzal. Company has Umamaheswara Rao & Co. as its auditors. As on 31-12-2022, the company has a total of 698 Crore shares outstanding.
Investment Rationale
The brokerage expects Power Grid to grow at12% YoY with net sales at INR 119bn, and maintain EBITDA margin (88%).
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Promoter/FII Holdings Promoters held 51.34 per cent stake in the company as of 31-Dec-2022, while FIIs owned 32.76 per cent, DIIs 12.73 per cent.
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