| Management target | Revenue 6.0% Annual |
|---|
| Margins | Trading margin at 3.35 paise per unit; margins vary by portfolio. |
|---|---|
| Order book | Signed 1200 MW long-term PPF with NTPC Green. |
| Demand visibility | Steady 4-6% annual power demand growth expected. |
| Management confidence | High on core trading stability despite margin cyclicity. |
Growth
Trading volume grew 12% to 25.78 BUs. Standalone operational income rose 2% to ₹113 Cr; consolidated PAT fell 54% to ₹112 Cr.
Outlook
Expect 4-6% annual power demand growth. Plans for battery storage tie-ups, NLC JV (₹500 Cr investment), and PFS monetization.
Risks
Lower surcharge/rebate income due to improved Discom health; volatility in short-term weather; regulatory constraints on trader bidding for long-term contracts.
Last quarter's promises, checked
Delivered
- Guided to cross last year's volumes → delivered 25.78 BUs in Q1 (on track with 12% growth) (= BEAT)
- Guided to execute 100 MW solar PPA → delivered 1200 MW PPA with NTPC Green (= BEAT)
- Guided to utilize PEL sale for productive assets → delivered NLC JV with ₹500 Cr commitment (= BEAT)
Partly delivered
- Guided to monetize PFS stake → delivered 'active consideration' but no timeline/deal closed (= PARTIAL)
Missed
- Guided to maintain dividend trajectory → delivered standalone PAT fall of 33% impacting payout capacity (= MISS)
Earnings Call Transcript filed with BSE, NSE: PTC. Summary written with AI assistance from the document.
PTC India Ltd: key numbers
- Share price
- ₹155.09
- Market cap
- ₹4,591 Cr
- Revenue (annual)
- ₹16,771 Cr
- Net profit (annual)
- ₹605.6 Cr
- P/E (TTM)
- 9.0×Sector 25.1×
- Promoter holding
- 16.22%+0.00% QoQ
- FII holding
- 28.88%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
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