POWERGRID expands substation and transmission network and capacity

Power Grid Corporation of India Limited (POWERGRID), a ‘Maharatna’ Company under the Ministry of Power, GoI, has declared a PAT of 15,417 crore and total income of 46,606 crore for FY23, registering YoY growth of 11 percent and 9 percent over FY 22 (excluding exceptional items).

On a consolidated basis, the company reported a PAT for the fourth quarter of FY 23 of ₹ 4,320 crore, an increase of 4 percent over the fourth quarter of FY 22. Comparing Q4 FY23 to Q4 FY22, the total income increased by 13 percent to $12,557 crore on a consolidated basis.

In addition to the first and second interim dividends of 10 cents per share already paid for the FY23, the company has recommended a final dividend of 47.50 percent (or 4.75 on each share with a face value of 10 cents). As a result, the total dividend for the year equals 14.75 per share, which is the same as it was the year before.

On a consolidated basis, the Company spent 9,212 crores on capital expenditures for the financial year and capitalised assets worth 7,413 crores (excluding FERV). On a combined basis, the company’s gross fixed assets were 2,70,107 crores as of March 31, 2023, compared to 2,62,726 crores as of March 31, 2022.

In FY23, the Company and its subsidiaries added 1,676 ckm of transmission lines, 7 sub-stations, and 24,900 MVA of transformation capacity. The four TBCB subsidiaries of POWERGRID, POWERGRID Rampur Sambhal Transmission Limited, POWERGRID Bhind Guna Transmission Limited, and POWERGRID Medinipur-Jeerat Transmission Limited, have all been successfully brought into service.

As of March 31, 2023, POWERGRID and its subsidiaries had a total of 1,74,110 ckm of transmission lines, 272 sub-stations, and 4,99,360 MVA of transformation capacity.

With an estimated cost of over 9,500 crore, POWERGRID purchased eleven interstate transmission systems and one intrastate transmission system through its TBCB subsidiary during the course of the year.

The company kept its high average transmission system availability of over 99.80 percent throughout FY23 as well. In FY23, the average transmission system availability was 99.82 percent. According to the International Transmission Operation and Maintenance Study (ITOMS) for 2021–2022, POWERGRID is ranked in first quadrant for both line and substation maintenance. Being ranked in the top quadrant indicates that asset maintenance is being done at an affordable rate with outstanding performance standards.