This PSU Maharatna Company Wins Bid for Major Transmission Project; Receives LoI for 765kV Line Connecting Bhadla-III and Bikaner-III; DIIs Increased Stake in Q1 FY25!
The company’s shares have delivered a multibagger returns over 175 per cent in the past 3 years only.
Power Grid Corporation of India, a Maharatna CPSU and the largest electric power transmission company in India, is majority-owned by the Government of India with a 51.34 per cent stake. Established in 1989, PGCIL focuses on setting up extra-high voltage alternating current and high-voltage direct current (HVDC) transmission lines.
Recently, the company has been awarded the contract to strengthen the inter-state transmission system for the “Transmission System Strengthening for Interconnections of Bhadla-III & Bikaner-III Complex” through a tariff-based competitive bidding process. The Letter of Intent (LoI) was received on August 1, 2024. This project involves constructing a 765kV D/C Transmission Line to connect the Bhadla-III and Bikaner-III substations, along with extension works at these substations in Rajasthan.
On Friday shares of Power Grid Corporation of India were closed at around Rs 358 per share. The company’s current market capitalization stands at Rs 3,32,961.62 crore. Additionally, the shares have delivered a return of over 90 per cent in just 1 year.
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As per the Quarterly Results, in Q1 FY25, Power Grid Corporation of India recorded a revenue of Rs 11006 crore. The operating profit for Q1 FY25 stood at Rs 9540 crore along with an operating profit margin of 87 per cent. The net profit for Q1 FY25 stood at Rs 3724 crore compared to Rs 3597 crore last year same quarter. Looking at the annual performance, the company generated a revenue of Rs 45843 crore in FY24. The operating profit for FY24 was Rs 39826 crore with a net profit of Rs 15573 crore compared to a net profit of Rs 15420 crore in FY23.
Investors must keep this Large-Cap stock on their radar.
Disclaimer: The article is for informational purposes only and not investment advice.