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Next Next post: 4 technologies that will impact manufacturing Search for: Search Recent Posts Power sector regulator CERC has stated that tariffs discovered through competitive bidding are 30-45 percent lower than the cost-plus route.Īuthor Sidhartha Shukla Posted on Categories Business, Economy Tags Economy, Power Grid Corporation of India, Adani Power, Kalpataru Power Transmission, PGCIL, Power Grid Corporation, Essel, Sterlite Grid, Vemagiri II, RECTPL Various government panels and authorities have been backing the move to rope in private developers. The government has planned to put transmission projects worth Rs 1 lakh crore on the block for auction during the current fiscal. It will traverse through Bihar and West Bengal. Similarly, the Alipurduar project will strengthen transmission system in India for transfer of power from new hydroelectric projects in Bhutan. It will traverse through Andhra Pradesh and Karnataka. The Vemagiri II project will strengthen the transmission system beyond Vemagiri and will be called Vemagiri II Transmission Ltd. 10,000 Crore in Financial Year (FY) 200708) as a public limited company, wholly owned by the Government of India with 51.34 stake in the company as on. 5,000 Crore (subsequently enhanced to Rs.
Wholly-owned subsidiary of state-run Rural Electrification Corporation, RECTPL had earlier postponed the opening of financial bids for the two projects on October 16. The Power Grid Corporation of India Limited was incorporated on 23 October 1989 under the Companies Act, 1956 with an authorized share capital of Rs. REC Transmission Projects (RECTPL) has conducted the auction of the two projects.
Similarly for Alipurduar project, Kalpataru Power Transmission quoted the lowest tariff of Rs 129.4 crore per annum followed by Essel (Rs 129.6 crore), PGCIL (138 crore), Sterlite Grid (Rs 161 crore) and Adani (Rs 198 crore). The source added that Kalpataru Power Transmission has emerged as the lowest bidder for Alipurduar power transmission project for which financial bids were also opened.įor Vemagiri II project, PGCIL has bid very aggressively and quoted Rs 359 crore annual tariff per annum followed by Sterlite Grid (Rs 429.05 crore), Essel (Rs 459 crore) and Adani (Rs 585 crore). The financial bids were opened today,” source said. “PGCIL has emerged as the lowest bidder for Vemagiri II power transmission project of around Rs 6,300 crore. We tweak our estimates, factoring in the FY22 numbers we retain ADD with a TP of INR252.State-run Power Grid Corporation Ltd (PGCIL) has emerged as the lowest bidder for Vemagiri II power transmission project of around Rs 6,300 crore in a tariff based auction. While the company has floated a bid to procure the one-crore smart meter project and is in talks with states for its installation, there is no concrete progress on it. We expect capitalisation of INR120bn for FY23 and FY24 each. It has INR533bn worth of projects in hand and a bidding opportunity for INR318.5bn worth over the next year. PGCIL declared a final dividend of INR2.25/share, taking the overall FY22 payout to INR14.75/sh (~6.6% yield). While EBITDA grew 1.5% YoY, reported PAT was up 22.9% YoY to INR43.2bn (mainly due to a deferred tax adjustment in the quarter). Q4 revenue increased 2.8% YoY, led by moderate growth in transmission, marginally offset by 12% decline in telecom segment sales. Capitalisation/Capex for FY22 stood at INR207bn/90.6bn, vs. PGCIL: PGCIL's asset capitalisation/Capex in Q4FY22 declined 75.5%YoY/44.0% YoY to ~INR21.8bn/INR18.1bn, on a high YoY base. GRM was reported at USD 12.44/bbl (HSIE: USD 13.5/bbl). Q4FY22 EBITDA, at INR 21bn, was 14% below our estimates, mainly due to higher other expenses however, APAT of INR 18bn was 38% above estimates due to higher-than-expected other income and lower tax expenses. Hindustan Petroleum Corporation: Our ADD rating on Hindustan Petroleum Corporation (HPCL) with a price target of INR 270 is premised on (1) recovery in domestic demand for petroleum products (2) improvement in refining margins over the coming 18 months and (3) gradual improvement in marketing margins for FY23-24 vis-vis FY22 levels.
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