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Power 20:20 | August 2015

Transmission companies that laid the most network last year (Central transco) - PGCIL

PGCIL has planned capital investment of Rs 100,000 crore for development of an inter-state transmission system during the 12th Five Year Plan. It is the only listed player in the regulated transmission business in India with 50 per cent share in the segment.

Key success factors:

  • Transmission network
    PGCILG´s transmission infrastructure comprises 116,625 ckm of lines, 195 substations and 234,709 MVA of transformer capacity. The company´s transmission line length, sub-station numbers and transformer capacity have grown at a CAGR of 8.8 per cent, 9.2 per cent and 25.6 per cent, respectively, over FY2011-15. Further, the inter-regional transfer capacity has grown from 5,050 MW in 2001-02 to 38,150 MW till March 2015. It operates on a regulatory business model with fixed RoE (15.5 per cent+incentives), while its tariff is based on CERC regulation.

  • Capex plan
    PGCIL has planned a capex of Rs 1.1 lakh crore over the 12th Plan, which is 100 per cent higher than its 11th Plan capex of Rs 55,000 crore. It earns 15.5 per cent RoE on its capitalised asset and is largely beneficiary of increased capitalisation, adding Rs 68,664 crore assets over FY12-15. In FY15, the company incurred Rs 22,460 crore capex, and capitalized assets worth Rs 21,760 crore (up 37 per cent Y-o-Y). The management expects to increase the capitalisation-capex ratio to above 1.0 for FY16E and FY17E. It expects to capitalise ~Rs 26,000 crore of assets in FY16E.

  • The green corridor
    It´s an ambitious plan for the country with an investment of over Rs 43,000 crore. It is currently working on the initial plan of the project and expects it to commence in the 12th Plan. The idea is to erect and use the network, especially for RE. The grid will be synchronised with the main grid, which can use the power as per requirement.

  • Investment proposals
    Creation of 400/220 kV sub-stations in NCT of Delhi, during 12th Plan Period (Part-A) at an estimated cost of Rs 1,394 crore, with commissioning schedule of 26 months from the date of investment approval.

Sub-station extension works associated with Eastern Region Strengthening Scheme - VII (ERSS-VIl)´ at an estimated cost of Rs 71 crore, with commissioning schedule of 24 months, progressively from the date of investment approval, with best efforts matching the completion of associated transmission lines being implemented under Tariff Based Competitive Bidding.

Sub-station works associated with Hyderabad (Maheshwaram) Pooling Station at an estimated cost of Rs 550 crore, with commissioning schedule of 36 months, progressively from the date of investment approval.

Transmission System associated with Solapur STPP (2x660 MW) Part-A project of NTPC (Part-A), at an estimated cost of Rs 50.5 crore, with commissioning schedule of 24 months from the date of investment approval.

  • PGCIL has planned capital investment of Rs.100,000 cr.
  • Owns and operates 116,625 ckm of transmission lines.
  • Has an ambitious plan for India with investment of over Rs.43,000 crore.

Parameter Details
Company PGCIL
Ownership State owned enterprise
Industry Electric Utility
Founded 1992
Headquarters New Delhi, India
Products Transmission & Distribution, Energy Trading
Revenue NA
Net Income Rs. 17,106 cr (2014-15)
Employees 10,000 (2012)

Key financial parameters FY 2014-15 FY 2013-14
Income Rs. 17,177.23 cr Rs. 15,597 cr
Expenditure Rs. 2,426 cr Rs. 2,543 cr
Operating Profit NA NA
Interest Rs. 3,979.33 cr Rs. 3,253.66 cr
Depreciation Rs. 5,085.40 cr Rs. 4,079.38 cr
PAT Rs. 4,979.17 cr Rs. 4,547.58 cr
EPS 9.52 Rs. 9.47

Size (kVA) Project Name Length (in ckm)
400 Anuppur (Mosaerbear) - Jabalpur Pooling Station 492
400 Bokaro - TPS Extn - Koderma TPS 200
400 Aurangabad (PG) - Aurangabad (MSETCL) 118
400 Silchar - Imphal (New) line (charged at 132 kV) 334
400 LILO of Nathpa Jhakri - Nalagarh at Rampur (2nd Ckt balance) 2
765 Satna - Gwalior line (60 Km D/C portion) Ckt-II 300
765 Vindhyachal Pooling Station - Satna line (2 Km D/C portion ) Ckt-II 271
765 Rihand - Vindhyachal Pooling Station (1st Ckt) 31
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