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Submission Details • Date of submission: August 2, 2024 • Meeting date: July 29, 2024 • Compliance: Submitted transcript to BSE and NSE as per SEBI regulations • Signed by: Satyaprakash Dash, Company Secretary and Compliance Officer
Company Performance Overview • Chairman: R.K. Tyagi • Achievements: • Largest power transmission utility in India • Ranked first in Profit After Tax and Net Worth among CPSEs • Operates 1,507 transmission lines and 278 substations with over 99.80% reliability
Financial Highlights • Revenue: ₹11,280 crores • Profit After Tax: ₹3,724 crores (4% increase YoY) • Debt-to-Equity Ratio: 58:42 • Average Borrowing Cost: 7.76% • Telecom Revenue: ₹219 crores (up from ₹191 crores YoY)
Project and Technological Advancements • Bidding Success: Lowest bidder for three ISTS TBCB projects (total tariff: ₹4,172 crores) • Technological Innovations: • Partnership with ISRO for satellite monitoring • Development of inspection robot with IIT-Kanpur
Sectoral Outlook • Growth driven by India's $5 trillion economy goal by 2030 • Focus on industrialization, urbanization, and renewable energy initiatives • Commitment to add 500 GW of non-fossil fuel capacity
Business Outlook • Total estimated business: ₹2,07,500 crores • Transmission projects: ₹1,90,500 crores • Smart metering and solar generation: ₹17,000 crores • Ongoing projects include HVDC links and offshore wind projects • Capex plan for FY25: ₹18,000 crores
Sustainability and CSR Initiatives • Goal: 50% electricity from renewable sources by 2025 • Aim for net zero emissions by 2047 • CSR projects include healthcare and rural development initiatives
Awards and Recognition • Received appreciation letters from NIT Bhopal, ITDM Jabalpur, and Narmada Control Authority for telecom services • Awards for innovations in AI and sustainability
Q&A Highlights • Concerns raised about high dividend payout ratio • Financials discussed by G. Ravisankar, Director of Finance • Clarification on offshore wind order worth ₹13,000 crores • Insights on project costs, tariffs, and green hydrogen plans
Capital Expenditure and Project Timelines • FY25 Capex projected at ₹18,000 crores, with increases in subsequent years • Significant ongoing projects: HVDC projects of Leh and Kaithal, Fatehpur Bhadla • Equipment availability challenges addressed
Conclusion • Emphasis on reviewing consolidated results for future guidance • Gratitude expressed to investors and management at the end of the call
Meeting Overview • Date: May 24, 2024 • Submitted to: BSE and NSE on May 31, 2024 • Key Management Present: • R. K. Tyagi (Chairman & Managing Director) • G. Ravisankar (Director (Finance) & CFO) • Abhay Choudhary (Director (Projects))
Company Performance Highlights • Market Capitalization: Surpassed Rs. 3 lakh crore • Awards: Received ATD BEST Award 2024 • Operational Achievements: • Extensive transmission network across India and neighboring countries • High system availability and reliability • Completed five TBCB projects in FY 2023-24
Key Developments • Infrastructure Projects: • Completed 400kV Mohanlalganj substation in Uttar Pradesh • Approved Green Energy Corridor for Ladakh • Received patent for thermal energy storage-based air conditioning system • Certifications: • ISO 55001 for Asset Management System • ISO 37001:2016 for Anti-Bribery Management System
Financial Performance • Q4 FY24: • Income: Rs. 12,254 crore • Profit: Rs. 4,128 crore • Full Fiscal Year: • Total Income: Rs. 45,815 crore • Profit: Rs. 15,475 crore (1% increase from FY23) • Dividends: Total of Rs. 10,463 crore for FY 23-24 (68% of PAT)
Future Outlook • Growth Plans: • Aiming for 6% growth in capital expenditure • Focus on renewable energy capacity and international interconnections • Revenue Projections: Expected to reach Rs. 2,07,000 crore by 2032 • Sustainability Goals: • Reduce fossil fuel consumption • Achieve net-zero emissions by 2047
Investor Queries and Responses • EBITDA and Subsidiary Profits: CFO addressed concerns about declining profits and assured stability in dividends. • Project Timelines: Chairman indicated significant upcoming projects in the intrastate model. • Smart Metering Initiative: Progress reported with 6.9 million meters awarded for installation in Gujarat.
Conclusion • The meeting concluded with gratitude expressed to investors and company leadership, signaling the end of the discussion.
Meeting Overview • Date: February 9, 2024 • Submission of transcript to National Stock Exchange of India and BSE Limited on February 16, 2024. • Key management personnel present: • Chairman & Managing Director: Mr. Ravindra Kumar Tyagi • Director (Finance) & CFO • Director (Projects) • Director (Personnel)
Company Performance • Q3 and Nine-Month Results: • Q3 income: ₹11,468 crore (up from ₹11,281 crore YoY) • PAT: ₹3,970 crore • Standalone income for nine months: ₹33,562 crore, PAT: ₹11,347 crore • Gross fixed asset value: ₹2,74,000 crore • Reduced debt: ₹1,19,000 crore
Infrastructure and Projects • Extensive infrastructure: • Over 1,490 transmission lines and 276 substations • Transmission system availability: 99.86% • Recent project wins: ₹26,000 crore in transmission projects • Significant CapEx: ₹3,444 crore for Q3, targeting over ₹10,000 crore in FY24 and potentially ₹15,000 crore in FY25. • Robust project pipeline: ₹77,770 crore
Sustainability and Technology Initiatives • Commitment to sustainability: • 50% renewable energy consumption by 2025 • Net zero by 2047 • Technological advancements: • Use of drones and AI for monitoring and maintenance • Centralized Control Center for asset monitoring
Future Outlook • CapEx projections: • Current visibility for FY25: ₹15,000 crore, with potential increase to ₹22,000 crore based on project progress. • Leh Ladakh project: • Engineering phase, tendering expected to finalize by January 2025, completion anticipated by FY30. • TBCB projects expected to enter capex phase by FY26.
Regulatory Impact • Discussion on CERC draft regulations: • Shift in O&M charge distribution, expected neutral impact on revenue and profitability. • Increased market share in TBCB projects: 60-65% from a long-term average of 40%.
Financial Strategy • Asset monetization and dividend payouts: • Current dividend payout maintained, utilizing securitization for capex needs. • Raised ₹5,700 crore this year through loans for special purpose vehicles (SPVs).
Conclusion • The meeting concluded with a Q&A session addressing various inquiries from analysts and investors, emphasizing the company's growth strategy and operational efficiency. Attendees were invited for further discussions and thanked for their participation.
Submission Details • Date of submission: November 16, 2023 • Meeting date: November 9, 2023 • Compliance: Submitted transcript to BSE and NSE • Signed by: Mrinal Shrivastava, Company Secretary and Compliance Officer
Meeting Focus • Discussion on Q2 and H1 FY24 performance • Presentation by senior management, including CFO Shri G. Ravisankar • Company status: Maharatna and third-largest CPSE by gross block • Global presence: 39 subsidiaries in 23 countries
Key Achievements • Multiple projects won under Tariff-Based Competitive Bidding (TBCB) valued at ₹11,000 crores • Significant Leh Ladakh project aimed at evacuating 13 GW of renewable energy with a budget of ₹20,700 crores
Financial Performance • Standalone revenue increased from ₹11,004 crores to ₹11,206 crores • PAT growth from ₹3,651 crores to ₹3,834 crores for Q2 • Cumulative Capex for H1 reached ₹4,246 crores, with a target to exceed ₹10,000 crores for the year • System availability maintained above 99.75%
Telecom Segment Updates • Telecom segment to be carved out into PowerGrid Teleservices • Income of ₹202 crores reported with 36 new customers • Data center project in Manesar approved for ₹713 crores
Capital Expenditure and Future Outlook • Total Capex projected at ₹10,000 crores, with a split between RTM and TBCB projects • Leh project cost clarified at ₹20,700 crores, including an ₹8,000 crore government grant • Anticipated opportunities in inter-state and intra-state projects estimated at ₹2.4 lakh crores by 2032
Bidding and Project Updates • 14 projects won in 2023, with more bids expected in H2 • Leh Ladakh project expected to be awarded in FY25 • Total Capex for 11 TBCB projects estimated at ₹8,500-9,000 crores
Financial Insights • Regulated equity at 15.5%, reserves and surplus at ₹86,000 crores • Asset monetization strategy impacted by new NMP guidelines • Significant growth opportunities in transmission assets
Data Center and Supply Chain Challenges • Pilot hyperscale data center in Manesar with an initial investment of ₹700 crores • Supply chain challenges noted for transformers and HVDC equipment
Q&A Highlights • Assurance on STATCOM project execution and supplier availability • Ongoing legal disputes affecting payments for Raigarh-Pugalur project
Conclusion • Optimism expressed for future projects and capital expenditure goals • Management thanked for insights and well wishes for Diwali
Meeting Overview • Date: May 30, 2023 • Submitted by: Mrinal Shrivastava, Company Secretary • Event: Investors and Analysts' Meet on May 22, 2023 • Key Participants: • K. Sreekant (Chairman & Managing Director) • Board of Directors and key executives
Company Performance Highlights • Expansion: 37 subsidiaries; 45% of India's power transmission • Capital Expenditure: ₹9,200 crores for FY 22-23, exceeding targets • Operational Efficiency: Over 99.8% availability; recognized for transformer maintenance and vegetation management • Financials: • Consolidated income: ₹12,557 crores (13% growth) • Profit after tax: ₹4,320 crores
Future Outlook • Telecom Segment: New subsidiary to enhance operations • Investment Opportunities: Over ₹4 lakh crores in transmission projects by 2030, driven by renewable energy initiatives • Capital Expenditure Plans: Increased CapEx anticipated based on revised project estimates
Project Updates • Transmission Projects: • Interstate projects progressing; intrastate projects facing delays • Significant increase in transmission bidding activity for FY24 • Consultancy Income: Negative impact of ₹150 crores due to contract adjustments • Smart Metering: Ongoing efforts in Gujarat; not ROE dilutive • International Projects: • $250 million investment in Kenya; financial closure targeted for this year
Financial Strategies • Debt Management: Improved debt-to-equity ratio; comfortable with current debt levels • Securitization vs. InvIT: Preference for InvIT due to favorable margins • Bidding Pipeline: ₹31,000 crores currently under bidding; stable competitive intensity
Operational Cost Management • Cost Reduction Initiatives: • Focus on optimizing substation costs through technology (remote operations, drones) • Exploring outsourcing and alternative wage structures • Competition: Need to adapt business model for TBCB projects; lenders treat RTM and TBCB projects similarly
Conclusion • The call concluded with an invitation to a lunch event for attendees, emphasizing ongoing efforts to enhance operational efficiency and financial performance.
Submission Details • Date of Submission: February 3, 2023 • Submitted by: Mrinal Shrivastava, Company Secretary and Compliance Officer • Regulatory Compliance: In accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 • Document Includes: NSE Scrip ID (POWERGRID), BSE Scrip Code (532898 EQ)
Q3 FY23 Earnings Call Highlights • Date of Call: February 2, 2023 • Moderator: IIFL Securities • Key Presenters: Chairman & MD Mr. K. Sreekant and senior management team • Company Status: Third-largest Central Public Sector Enterprise (CPSE) in terms of gross block
Financial Performance • Capital Expenditure: ₹5,429 crores (target: ₹8,800 crores) • Consolidated Income: ₹11,530 crores • Profit After Tax (PAT): ₹3,645 crores • Growth: 8% in income, 11% in PAT
Operational Achievements • Availability Rate: 99.81% • Technological Advancements: AI/ML tools, drone usage • Expansion Plans: Telecom and consultancy services, new projects in data centers and smart metering
Future Outlook • Investment Plans: 51,000 ckm of new transmission lines to support renewable energy integration • Monetization Delays: Attributed to rising interest rates and asset management changes • Securitization Strategy: Shift towards securitizing cash flows for funding
Analyst Inquiries • Asset Transfer to InvIT: Considered but dependent on fair pricing and shareholder interests • Smart Meter Initiative: Involves two discoms in Gujarat, exploring opportunities in Mizoram • Transmission Bidding: Slowdown noted, but increase in activity expected
Additional Insights • Finance Costs: Rising despite decreased borrowings due to interest rate hikes • Employee Count: Moderate increase expected, with a shift towards outsourcing • Bidding Pipeline: High competition in ISTS projects, targeting 1-2 crore smart meters • Capital Expenditure Clarification: Different figures compared to competitors explained
Project Updates • Ladakh Transmission Line: Cost of ₹20,700 crores, execution timeline of five years post-approval • Future Transmission Opportunities: Related to renewable energy and conventional power projects
Conclusion • Capitalization Target for FY23: Approximately ₹10,000 crores • Smart Meter Revenue Projection: Around ₹700 crores • Dividend Policy: Consistent distribution policy maintained
The call concluded with appreciation for participants' support and interest in the company.