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Power Grid Corporation of India Ltd.

BSE: 532898 Sector: Infrastructure
NSE: POWERGRID ISIN Code: INE752E01010
BSE 14:39 | 05 Dec 221.75 2.05
(0.93%)
OPEN

219.20

HIGH

222.00

LOW

217.25

NSE 14:19 | 05 Dec 221.20 1.40
(0.64%)
OPEN

219.70

HIGH

221.25

LOW

217.20

OPEN 219.20
PREVIOUS CLOSE 219.70
VOLUME 94733
52-Week high 248.25
52-Week low 186.35
P/E 10.60
Mkt Cap.(Rs cr) 154,681
Buy Price 221.85
Buy Qty 453.00
Sell Price 221.95
Sell Qty 30.00
OPEN 219.20
CLOSE 219.70
VOLUME 94733
52-Week high 248.25
52-Week low 186.35
P/E 10.60
Mkt Cap.(Rs cr) 154,681
Buy Price 221.85
Buy Qty 453.00
Sell Price 221.95
Sell Qty 30.00

Power Grid Corporation of India Ltd. (POWERGRID) - Chairman Speech

Company chairman speech

Letter to Shareholders

At the outset please accept my sincere wishes for the good health and safety of youand your loved ones.

It gives me immense pleasure to share that FY 2021-22 had been yet another year ofoutstanding performance for your company despite the challenges posed by 2ndwave of COVID pandemic.

In FY2022 your company has added 5450 circuit km of Extra High Voltage transmissionlines 43564 Mega Volt Amperes transformation capacity 7 new substations and 8174 km ofOPGW network. Some of the large and important projects completed during the year includePole 3 & 4 of HVDC Bipole link between Western Region (Raigarh Chhattisgarh) andSouthern Region (Pugalur Tamil Nadu) Pugalur-Trichur 2000 MW VSC based HVDC System andthe 765 kV D/C Vindhyachal Pooling Station-Varanasi Transmission Line.

Transmission system availability of 99.83% was achieved by your company and thetripping per line decreased to 0.33 lowest in the last five years. The company hasundertaken various digital initiatives to improve the management of its large transmissionassets and ensured that asset management is carried out at par with global standards.

On financial front the total income for the year grew by 4.59% from Rs.40824 crore toRs.42698 crore and profit after tax grew by 39.78% from Rs.12036 crore to Rs.16824crore on consolidated basis. The capital expenditure during the year had been Rs.9060crore and assets of Rs.20695 crore were added to the Gross Block on consolidated basis.In line with our commitment to balance internal resources requirement for new projects anddividend payout dividend of Rs.14.75 per share was declared for FY 2021-22 including theproposed final dividend of Rs.2.25 per share which shall be paid upon your approval. Thetotal dividend payout for the year amounts to Rs.10289 crore with total payout ratio of60% as compared to 57% for the previous year.

While transmission continues to be main focus of your company we are activelyidentifying and evaluating various other non-transmission business opportunities as partof the growth strategy. Your Company has setup the 'POWERGRID Energy Services Limited' awholly owned subsidiary with the objective to invest in and act as project managementconsultant in new & emerging business areas of Energy Management Smart Meters SmartGrid Energy Storage etc.

The growth of renewable energy generation is going to propel the transmissioninvestments. In order to meet the country's commitment at the COP26 to achieve 500 GW ofnon-fossil generation capacity by 2030 significant investments will be required inbuilding the related transmission evacuation system. Your company is striving tocapitalize on the opportunities in the transmission sector arising therein.

The Govt. of India's Revamped

Distribution Sector Scheme (RDSS) is aimed to improve the financial health of theDiscoms and involves an outlay of Rs.3.03 lakh crore towards various loss reduction andinfrastructure modernization schemes. Your company is in discussion with the states totake up these works as a Project Implementation Agency and support the Gol's initiative toimprove the health of the Distribution utilities.

Your Company is also in the process of setting up solar generation capacity in vacantlands available with it and locations with total potential of 200 MWp have beenidentified. Preliminary activities for setting up 105 MWp solar PV plant at Nagda M.P.have been taken up by your company.

As more digital services are consumed in the economy your company sees increasedopportunities for growth of its telecom business. To give focused attention to the telecombusiness the same would be hived into 'POWERGRID Teleservices Limited' a wholly ownedsubsidiary set up during the year. Further your company is taking up establishment ofpilot data center at Manesar and is actively evaluating to setup edge data centers tocapitalize on data driven business opportunities.

Your company is also exploring investment opportunities in the transmission segment inKenya and Tanzania besides consultancy opportunities in various countries.

The Indian power sector is witnessing rapid transformation driven by sustainability andenergy security. Various technological policy and regulatory changes are making thebusiness operations complex and challenging. Your company with its rich legacy ofperformance and committed workforce is geared up to take advantage of the opportunitiesemerging in this evolving business landscape.

On behalf of the Board of Directors of POWERGRID I convey my sincere gratitude andthank you for your continued trust and unwavering support.

With best wishes

Your truly
(K. Sreekant)
Date: 5th August 2022 Chairman & Managing Director
Place: Gurugram

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