Power Grid Shares Jump for 2nd Day After Winning Khavda Transmission Project

Power Grid share price saw an intraday rise, reaching ₹331.35 as of 10:10 AM, November 22, 2024, on the Bombay Stock Exchange (BSE) after the company successfully acquired Khavda V-A Power Transmission Ltd. The company won the bid for ₹18.95 crore to establish a transmission system for evacuating power from a renewable energy zone in Gujarat.

Acquisition Details

PGCIL acquired the special purpose vehicle (SPV) from REC Power Development and Consultancy Ltd., which acted as the bid coordinator. The project includes the development of a 6,000 MW, ±800 kV HVDC terminal station at KPS2 in Gujarat and Nagpur in Maharashtra, spanning 1,200 km. The transmission system will also involve LILO of the Wardha–Raipur 765 kV D/c line at Nagpur and related interconnections.

Financial Performance

In its Q2 FY25 results, PGCIL reported a modest 0.3% increase in net profit, reaching ₹3,793 crore, compared to ₹3,781 crore in the same quarter last year. Revenue slightly rose by 0.1%, from ₹11,267 crore to₹11,277.8 crore. However, the company’s EBITDA declined by 2.1%, dropping to ₹9,701.3 crore, with a margin of 86%, lower than the 87.9% reported last year.

Stock Performance

Power Grid share has performed strongly, rising by over 56% in the last 1 year and 195.75% in the last 5 years. 

About Power Grid Corporation of India Limited

Power Grid is a Maharatna public sector company and the largest power transmission firm in India. As of March 31, 2021, the Government of India holds a 51.34% stake in the company. PGCIL was established in 1989 to build extra-high voltage alternating current (AC) and high-voltage direct current (HVDC) transmission lines. The company is responsible for transporting large amounts of electricity from power plants and areas with excess power to regions that need it. It operates under the Ministry of Power, Government of India.

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