Power Grid Corporation Of India Limited
Incorporated in October 1989, PGCIL is engaged into power transmission business with the responsibility for implementation, operation and maintenance of the high-voltage transmission systems. It owns and operates most of India’s inter-regional and in...
Key Metrics
EPS
16.74
Current ratio
0.62
Debt/Equity
1.88
Debt/EBITDA
4.05
Interest coverage ratio
0.32
Operating Cashflow to total debt
0.25
Financials
Pros & Cons
Exclusive on TAP Bonds
Here's what we like about this company and potential risks we have identified.
Pros
Long-term revenue visibility and favourable regulatory framework having a cost-plus tariff structure
High operating efficiency of its transmission system
Strong project execution skills
Comfortable financial risk profile
Majority ownership and support extended by GoI; pivotal role in the Indian power sector
Liquidity: Strong
Cons
Weak credit profile of state-owned utilities
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About Power Grid Corporation Of India Limited bond.
This comprehensive profile covers key factual information about Power Grid Corporation Of India Limited. Incorporated in October 1989, PGCIL is engaged into power transmission business with the responsibility for implementation, operation and maintenance of the high-voltage transmission systems. It owns and operates most of India’s inter-regional and inter-state power transmission system (ISTS) with transmission network of 176,531 ckm, 276 extra high-voltage alternating current (EHVAC) and high-voltage direct current (HVDC) substations with 517,861 mega volt ampere (MVA) transformation capacity as on March 31, 2023. Besides, the company has more than 82,000 km of fibre optic network as on September 30, 2023. PGCIL has also been notified as a Maharatna company by the GoI. EPS in Mar-2024 was 16.74. Current ratio in Mar-2024 was 0.62. Debt/Equity in Mar-2024 was 1.88. Debt/EBITDA in Mar-2024 was 4.05. Interest coverage ratio in Mar-2024 was 0.32. Operating Cashflow to total debt in Mar-2024 was 0.25. Total revenue for Mar-2025(E) was ₹49788.23. Net income for Mar-2025(E) stood at ₹17905.59. Total assets as of Mar-2024 were ₹250,829.30. Operating cash flow for Mar-2024 was ₹37,289.50. The company’s borrowing relationships include Axis Bank Limited (₹N/A Cr), Bank of Baroda (₹N/A Cr), Bank of India (₹N/A Cr), Canara Bank (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), Indian Overseas Bank (₹N/A Cr), Induslnd Bank Limited (₹N/A Cr), Punjab National Bank (₹N/A Cr), State Bank of India (₹N/A Cr), Union Bank of India (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), State Bank of India (₹N/A Cr), Canara Bank (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), Proposed (₹N/A Cr), State Bank of India (₹N/A Cr), Axis Bank Limited (₹N/A Cr), Bank of Baroda (₹N/A Cr), Bank of India (₹N/A Cr), Canara Bank (₹N/A Cr), HDFC Bank Limited (₹N/A Cr), ICICI Bank Limited (₹N/A Cr), IDBI Bank Limited (₹N/A Cr), Indian Overseas Bank (₹N/A Cr), Induslnd Bank Limited (₹N/A Cr), Punjab National Bank (₹N/A Cr), State Bank of India (₹N/A Cr), Union Bank of India (₹N/A Cr), State Bank of India (₹N/A Cr), Unallocated (₹N/A Cr), Union Bank of India (₹N/A Cr). Peers and comparison entities consist of Power Grid Corporation Of India Limited, Tata Power Company Limited, Torrent Power Limited, Powergrid Infrastructure Investment Trust. As of Dec 2024, promoters hold N/A% while others hold N/A% of equity. Key strengths include: Long-term revenue visibility and favourable regulatory framework having a cost-plus tariff structure; High operating efficiency of its transmission system; Strong project execution skills; Comfortable financial risk profile; Majority ownership and support extended by GoI; pivotal role in the Indian power sector; Liquidity: Strong. Key risks include: Weak credit profile of state-owned utilities. Leadership team details include Chetan Bansilal Kankariya (Independent Director), Lalit Bohra (Government Nominee Director), Ram Naresh Tiwari (Independent Director), Ravindra Kumar Tyagi (Chairman & Managing Director), Ravisankar Ganesan (Director - Finance & CFO), Saibaba Darbamulla (Government Nominee Director), Satyaprakash Dash (Company Secretary & Compliance Officer), Yatindra Dwivedi (Director - Personnel). This detailed corporate overview is structured to provide a thorough understanding of all available data points, enhance search visibility, and support investor analysis.