Power Sector Q3 Earnings Preview: On Path To Recovery, Says ICICI Securities 
Electricity pylons and electrical power lines against a blue sky. (Photographer Mikael Sjoberg/Bloomberg)

Power Sector Q3 Earnings Preview: On Path To Recovery, Says ICICI Securities 

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.

ICICI Securities Report

Power demand continued its recovery in Q3 FY21 resulting in further improvement in thermal plant load factors and subsequently higher coal offtake.

Conventional generation during nine months-FY21 was lower by only 4.7% YoY (versus down 8.7% YoY in H1 FY21) and thermal PLFs improved approximately 200 basis points from H1 FY21 to 51.5%.

Peak all-India demand touched an all-time high of 182.9 gigawatts on December 30, 2020, indicating a spectacular post-Covid-19 recovery.

Coal India Ltd.’s offtake continued to recover (nine months-FY21 offtake is lower by only 2% YoY).

Demand, billing and collection normalised to pre-Covid-19 levels (or higher) for most discoms.

Click on the attachment to read the full report:

ICICI Securities Power Q3FY21 Preview.pdf


This report is authored by an external party. BloombergQuint does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BloombergQuint.

Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

BQ Install

Bloomberg Quint

Add BloombergQuint App to Home screen.