Power Grid Q3 Review - Underlying Transmission Numbers Strong: Motilal Oswal
Transmission towers in Crockett, California, U.S. (Photographer: David Paul Morris/Bloomberg)

Power Grid Q3 Review - Underlying Transmission Numbers Strong: Motilal Oswal

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Motilal Oswal Report

Power Grid Corporation of India Ltd.’s result highlights strong underlying numbers for its transmission segment - implying approximately 18% YoY growth.

Reported standalone profit after tax was further aided by higher other income, resulting in a 24% YoY rise.

The company has won Rs 90-100 billion of awards in Q3, which is a positive, given a declining order book.

Valuations at 1.5 times FY22E price/book value and ~7% FY22E dividend yield remain attractive for a company with steady return on equities of ~17%.

Click on the attachment to read the full report:

Motilal Oswal Power Grid Q3FY21 Result Update.pdf

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