loader2
Login Open ICICI 3-in-1 Account

Entry Price

192.00

Target

210.00

Recommend Date

12-11-2019

Return

9.38 %
BUY

Date : 12-11-2019

Capitalisation on track albeit with new reset… Power Grid reported weak Q2FY20 results wherein core transmission segment revenues posted low single digit revenue growth. Reported revenues came in at | 8685 crore vs. estimate of | 9102.7 crore. Transmission revenues for Q2FY20 grew 4% YoY at | 8497.6 crore vs. our estimate of | 8805.9 crore. On the other hand, telecom & consultancy revenues were above our estimates at | 198.7 crore and | 173.6 crore (estimate of | 165.1 crore and | 131.6 crore), respectively. EBITDA came in at | 7556.9 crore, significantly below our estimate of | 7964.9 crore. This was mainly on account of revenue miss. On the finance costs front, the same came in at | 2376.1 crore. PAT came in at | 2527.1 crore.