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Q2FY23 Preview: Powergrid Corporation of India: Revenue seen at Rs104,892 million, PAT at Rs37,502 million

4 Nov 2022 , 11:06 AM

Result date: 5th November, 2022
Recommendation: Buy
Target price: Rs250
(Source: IIFL Research)

Powergrid Corporation of India (Powergrid) could post revenue growth of ~6% over the year-ago quarter.

Brokerages expect the company’s capitalization at Rs22 billion (down 70.9% year-on-year on a high base), while capex is pegged at Rs18 billion (up 30.4% over the year-ago quarter) in Q2FY23. Powergrid capitalized assets worth Rs207 billion in FY22 and brokerages expect it to capitalize assets worth Rs120 billion in FY23.

Its EBITDA could come in at Rs90,022, and register growth of 2.5% over the year-ago quarter.

Powergrid’s Profit After Tax (PAT) could grow 12.6% over the year-ago quarter.

Important management insights to watch out for:
·         Update on plans to foray into the smart metering infra business
·         Capitalized assets

Rs. Million September 2022 estimates QoQ change YoY change
Revenue 104,892 0.50% 5.65%
EBITDA 90,022 2.40% 2.45%
Profit After Tax 37,502 (0.30)% 12.55%

Source: Brokerage Reports

Related Tags

  • Powergrid Corporation of India
  • Powergrid Q2FY23
  • Powergrid Q2FY23 preview
  • Q2FY23
  • Q2FY23 preview
  • September 2022 quarter
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