
Result date: 31st January, 2023
Recommendation: Buy
Target price: Rs 250
Source: IIFL Research
Power Grid Corporation of India is expected to post decline in capitalization and capex at Rs11.5 billion (down 78% YoY) and Rs19.5 billion (down 44.2% YoY) respectively on a high base. The company capitalized assets worth R207 billion in FY22 and could capitalize assets worth Rs120 billion in FY23. For the December 2022 quarter, the company could post revenue growth of 7% over the year-ago quarter.
While EBITDA could grow 5.6%, growth in Profit After Tax or PAT is pegged at 11.3% over the year-ago quarter.
Important management insights to watch out for:
Rs. Million | December 2022 estimates | YoY change |
Revenue | 106,530 | 7.0% |
EBITDA | 91,323 | 5.6% |
Profit After Tax | 37,500 | 11.3% |
Source: Brokerage reports
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