Power Grid Corporation of
India Limited
RESULTS FOR Q2 FY 2012
SEP,2011
POWER GRID CORPORATION has
performed at par – with no improvement in profitability – in the 2nd quarter ending Sep,2011.
Net Sales stands
at Rs.2264.35cr in Q2 FY 12 – compared to Rs.2202.49 cr in the preceding Qtr of
Q1 FY 12 (Up by 2.81%) and Rs.1999.12 cr in the corresponding qtr of Q2 FY 11
(Up by 13.27%).
Depreciation stands at Rs.596.63 cr in Q2 FY 12
compared to Rs.579.03 cr (Up by 3.04%) in Q1 FY 12 and Rs.502.39 cr(Up by 18.76%)
in Q2 FY 11.
Other Expenditure stands at Rs. 270.62 cr in Q2 FY 12 – compared to Rs.172.86 cr (up by 56.55%) in
Q1 FY 12; and Rs.130.06 cr (Up by 108.07%) in Q2 FY 11.
Total Expenditure stands
at Rs.1059.45 cr in Q2 nFY 12 – compared to Rs.962.85 cr in Q1 FY 12 (Up by 10.03%)
and Rs.832.30 cr in Q2 FY 11 (Up by27.29%).
Profit from Operations stands
at Rs.1204.90 cr in Q2 FY 12; compared to Rs.1239.64 cr (down by -2.8%) in Q1
FY 12 and Rs.1166.82 (up by 3.26%) in Q2 FY 11.
Profit before tax
stands at Rs.941.88 cr
in Q2 FY 12 – compared to Rs.963.84 cr (down by -2.28%) in Q1 FY 12 and Rs.925.56
cr(Up by 1.76%) in Q2 FY 11.
Tax expense stands
at Rs.233.14 cr in Q2 FY 12; compared to Rs.258.55 cr (down by -9.83%) in Q1 FY
12; and Rs.222.38 cr (Up by 4.84%) in Q2 FY 11.
Net Profit stands
at Rs.708.74Cr in Q2 FY 12; compared to Rs.705.29 cr(Up by 0.49%) in Q1 FY 12;
and Rs.703.18 cr (Up by 0.79%) in Q2 FY11.
Basic EPS on
a FV of Rs.10 stands at Rs.1.53 in Q2 FY 12; Rs.1.52 in Q1 FY 12; and Rs.1.67
in Q2 FY 11.
On
this basis, the annualized EPS may
stand at Rs.6 to 6.5. Last year EPS was also Rs.6.13. Thus, there is neither
any improvement nor erosion.
Current Market price is
Rs. 101.25 The 52 week high price is Rs.112.20 and the 52 week
low price is Rs.93.15. The
price Earning Ratio
is 16.2.
Power
Grid has huge expansion Plans currently and these plans do ensure its future
profitability levels.
But,
considering the huge Paid Up Equity level of Rs.4629.73 cr, the improvement in EPS
can be gradual only.
ANNOUNCEMENTS BY POWER GRID
09-12-2011 Power Grid has approved the following
investment approvals: (1) 'Western Region System Strengthening Scheme - XIII'
at an estimated cost of Rs. 49.93 Crore, with commissioning schedule of 21
months from the date of investment approval. (2) 'Transmission System for
connectivity of Essar Power Gujarat Limited' at an estimated cost of Rs. 552.44
Crore, with commissioning schedule of 26 months from the date of investment
approval. (3) 'Common System associated with Coastal Energen Private Limited
and Ind-Barath Power (Madras) Limited LTOA Generation Projects In Tuticorin
area Part-A' at an estimated cost of Rs. 90.44 Crore, with commissioning
schedule of 28 months from the date of investment approval. (4) In-principle
approval has been granted for equity participation in the proposed Special
Purpose Vehicle (SPV) being created by DoT for setting up of National Optical
Fibre Network (NOFN) subject to POWERGRID equity being limited presently upto
10% of the proposed paid up capital of Rs. 100 Crore.
17-11-2011 Power Grid approved the following two
investment approvals for: 1. Transmission System Strengthening in Western Part
of WR for IPPs Generation Projects in Chhattisgarh' at an estimated cost of Rs.
2127.51 Crore, with commissioning schedule of 32 months progressively from the
date of investment approval. 2. 'Northern Region System Strengthening Scheme -
XXIV' at an estimated cost of Rs. 723.63 Crore, with commissioning schedule of
36 months from the date of investment approval.
25-10-2011 Power Grid approved the following two
investment approvals for: (1) 'System Strengthening - XIII in Southern Regional
Grid' at an estimated cost of Rs. 487.49 Crore, with commissioning schedule of
32 months from the date of investment approval. (2) 'Transmission System for
Phase-I Generation Projects in Jharkhand and West Bengal - Part-A1' at an
estimated cost of Rs. 558.26 Crore, with commissioning schedule of 25 months
from the date of investment approval.
22-10-2011 standalone Results for the quarter
ended on 30-SEP-2011 as follows: Net Sales of Rs. 226435 lacs for quarter
ending on 30-SEP-2011 against Rs. 212663 lacs for the quarter ending on
30-SEP-2010. Net Profit / (Loss) of Rs. 70874 lacs for the quarter ending on
30-SEP-2011 against Rs. 65140 lacs for the quarter ending on 30-SEP-2010.
19-09-2011 Power Grid approved the following two
investment approvals for : (1) 'Common System associated with Coastal Energen
Private Limited and Ind-Barath Power (Madras) Limited LTOA Generation Projects
in Tuticorin area (Part-B)' at an estimated cost of Rs. 1940.13 Crore, with
commissioning schedule of 36 months from the date of Investment approval; (2)
'POWERGRID Sub-station works associated with Transmission Scheme for enabling
import of NER/ER surplus power by NR' at an estimated cost of Rs. 80.42 Crore,
with commissioning schedule of 18 months from the date of investment approval.
30-08-2011 Power Grid approved the investment
approval for ' Transmission System for IPP generation projects in Madhya
Pradesh & Chhattisgarh ' at an estimated cost of Rs. 1366.34 Crore, with
commissioning schedule of 27 months from the date of investment approval.
03-08-2011 Power Grid has approved the following
four investment approvals for: (1) 'Transmission System for connectivity of MB
Power (M.P.) Limited' at an estimated cost of Rs. 425.51 Crore, with
commissioning schedule of 25.5 months from the date of investment approval. (2)
'Common System associated with ISGS Projects in Krishnapatnam area of Andhra
Pradesh' at an estimated cost of Rs. 1637.34 Crore, with commissioning schedule
of 36 months from the date of investment approval. (3) 'Provision of Spare ICTs
and Reactors for Eastern, Northern, Southern and Western Regions' with
commissioning schedule of 16 months from the date of Investment approval, at
following cost estimates:(a) Spare Transformers in Northern Region - Rs. 38.43
Crore,(b) Spare Transformers & Reactor in Eastern Region - Rs. 77.77 Crore,
(c) Spare Transformer & Reactor in Southern Region - Rs. 18.90 Crore, and (d)
Spare Transformers & Reactors in Western Region - Rs. 64.09 Crore. (4)
'Integration of Pooling Stations in Chhattisgarh with Central part of WR for
IPP Generation Projects in Chhattisgarh' at an estimated cost of Rs. 1391.97
Crore, with commissioning schedule of 28 months from the date of investment
approval.
12-07-2011 Power Grid approved the following three
Investment approvals for: (1) 'Eastern Region Strengthening Scheme-IV
(ERSS-IV)' at an estimated cost of Rs. 60.36 Crore, with commissioning schedule
of 21 months from the date of Investment approval; (2) 'Transmission System for
establishment of 400/220kV GIS Substation at Kala in UT DNH' at an estimated
cost of Rs. 181.93 Crore, with commissioning schedule of 24 months from the
date of investment approval; (3) 'Augmentation of POWERGRID's Telecom backbone
network and access network for implementation of National Knowledge Network
(NKN) Project' at an estimated cost of Rs. 505.48 Crore, with commissioning
schedule of 24 months from the date of investment approval.
01-06-2011 Power Grid approved the investment
approval for "Establishment of Pooling Stations at Champa and Raigarh
(near Tamnar) for IPP Generation Projects in Chhattisgarh" at an estimated
cost of Rs. 1961.87 crore with commissioning schedule of 36 months from the
date of investment approval.
24-05-2011 consolidated Results for the year ended
on 31-MAR-2011 as follows: Net Sales of Rs. 861176 lacs for year ending on
31-MAR-2011. Net Profit / (Loss) of Rs. 267191 lacs for the year ending on
31-MAR-2011.
24-05-2011 standalone Results for the year ended
on 31-MAR-2011 as follows: Net Sales of Rs. 838870 lacs for year ending on
31-MAR-2011 against Rs. 712745 lacs for the year ending on 31-MAR-2010. Net
Profit / (Loss) of Rs. 269689 lacs for the year ending on 31-MAR-2011 against
Rs. 204094 lacs for the year ending on 31-MAR-2010.
RESULTS TABLE
|
POWER
GRID
|
30-Sep-11
|
30-Jun-11
|
%
DIF
|
30-Jun-10
|
% DIF
|
|
Net Sales
|
226435
|
220249
|
2.81
|
199912
|
13.27
|
|
Employees Cost
|
19220
|
21096
|
-8.89
|
19985
|
-3.83
|
|
Depreciation
|
59663
|
57903
|
3.04
|
50239
|
18.76
|
|
Other Expenditure
|
27062
|
17286
|
56.55
|
13006
|
108.07
|
|
Total Expenditure
|
105945
|
96285
|
10.03
|
83230
|
27.29
|
|
Profit from Operations
|
120490
|
123964
|
-2.8
|
116682
|
3.26
|
|
Other Income
|
19420
|
14324
|
35.58
|
15057
|
28.98
|
|
Interest
|
45933
|
41904
|
9.61
|
39183
|
17.23
|
|
Profit before tax
|
94188
|
96384
|
-2.28
|
92556
|
1.76
|
|
Tax expense
|
23314
|
25855
|
-9.83
|
22238
|
4.84
|
|
Net Profit
|
70874
|
70529
|
0.49
|
70318
|
0.79
|
|
Face Value (In Rs
|
10
|
10
|
-100
|
10
|
-100
|
|
Paid Up Equity
|
462973
|
462973
|
0
|
420884
|
10
|
|
Basic EPS
|
1.53
|
1.52
|
0.66
|
1.67
|
-8.38
|
|
Public holding (%)
|
30.58
|
30.58
|
0
|
13.64
|
124.19
|
*
* * E
N D *
* *
No comments:
Post a Comment