STERLITE POWER TRANSMISSION LIMITED UNLISTED SHARE
ABOUT STERLITE POWER TRANSMISSION LIMITED
Sterlite Power is the world's leading developer of transmission infrastructure, with more than 13,700km circuit projects and 26,100 MVA (Mega Volt-Amp) in India and Brazil. With an industry-leading power cable, EHV (Extra-High Voltage) cable, and OPGW (Optical Ground Wire) product portfolio, Sterlite Power also provides retrofit solutions for upgrading, uprating, and strengthening existing networks, and are the leading manufacturer of bare overhead conductors, exporting to over 60 countries.
Sterlite Power is also a sponsor of IndiGrid, which is India’s first energy Infrastructure Investment Trust (InvIT) listed on BSE and NSE. The company aims to expand its global business in the Renewable Energy area to reach a ₹75,409 crore investment portfolio by the end of FY 2021-22.
It bid, design, construct, own and operate power transmission assets across multiple geographies. The Company specialises in upgrading, uprating, and strengthening existing power delivery networks. It helps utilities solve network congestion problems by providing solutions that improve and increase the strength of corridors. The product portfolio includes conductors, Optical ground wire (OPGW), cables & solutions, and Master business integration.
Portfolio
INCORPORATION DETAILS
CIN | U74120PN2015PLC156643 |
Registration Date | May 5, 2015 |
Address of the Registered office and contact details
| 4th Floor, Godrej Millennium, 9 Koregaon Road, Pune-411001, Maharashtra Corporate office: F-1, The Mira Corporate Suites, 1 & 2 Ishwar Nagar, Mathura Road, New Delhi – 110065 |
Details of Registrar and Transfer Agent | KFintech Technologies Private Limited Karvy Selenium Tower B, Plot 31-32, Gachibowli, Financial District, Nanakramguda, Hyderabad – 500032 Phone No. +91 – 40 – 6716 - 1503 e-mail id: einward.ris@karvy.com |
BOARD OF DIRECTORS & MANAGEMENT
MR. PRAVIN AGARWAL (Chairman)
MR. A. R. NARAYANASWAMY (Non-Executive and Independent Director)
MR. ANOOP SETH (Independent Director)
MS. AVAANTIKA KAKKAR (Non-Executive and Independent Director)
ANURAAG SRIVASTAVA (Group Chief Financial Officer)
MONALISA SAHOO (Chief Marketing & Communications Officer)
NEETI WAHI Group (Chief Information Officer)
MR. PRATIK AGARWAL (Managing Director)
MR. ARUN TODARWAL (Non-Executive and Independent Director)
MS. FLORA HAIXIA ZHAO (Non-Executive and Independent Director)
STERLITE POWER TRANSMISSION LIMITED UNLISTED SHARES DETAILS
Total Available Shares: | 6,11,81,902 |
Face Value: | Rs. 2 Per Equity Share |
ISIN: | INE110V01015 |
PAN No. | AAVCS7209P |
Lot Size: | Minimum 100 and More |
Last Traded Price | Rs. 1300 |
Market Cap: | Rs. 7953.65 Crore |
Principal Business Activities of the Company
All the business activities contributing 10% or more of the total turnover of the company
S. No. | Name and Description of main products / services | NIC Code of the Product/ service | % to total turnover of the company |
1 | Power Transmission Conductor | 2610 | 59.00% |
2 | Power Cable | 2732 | 20.00% |
3 | Revenue from Project (MSI Business) | 2610 | 21.00% |
SHAREHOLDING PATTERN
As on 31-03-2020
S. No. | Shareholders’ Name | No. of Shares held | % of total Shares of the company |
1 | Twin Star Overseas Ltd. | 4,36,70,398 | 71.38% |
2 | Individual/ HUF | 19,47,344 | 3.18% |
3 | Bodies Corporate | 9,52,859 | 1.56% |
4 | Others | 1,46,11,301 | 23.88% |
Total | 6,11,81,902 | 100.00% |
INDUSTRY OVERVIEW
GLOBAL
Electricity is one of the most important driving forces for human progress. Obviously, electrification has become a key factor in the global energy sector. Reducing the cost of renewable energy and the further development of digital technology provide huge opportunities for this energy transition.
By 2040, more than half of the additional electricity will be generated and it is already evident, global electricity demand increased 4% in 2018, with low carbon generation expanding 6% to meet a considerable share of this growth. Several US state governments have unveiled 100% clean power targets.
INDIA
In terms of renewable energy, India recently announced a commitment to use 450 gigawatts of renewable energy at the United Nations Climate Summit. India also hopes to take advantage of the 25 lakhs megawatts of solar energy potential in South Asia and calls for partnerships with the private sector.
India’s power generation is 370 GW, of which 62% of the power generation is thermal energy, followed by renewable energy at 24%. India’s energy sector is shifting from burning coal to using renewable resources for more efficient consumption and production. Private sector participation rose from 19% in the 2009-10 fiscal year to 46% at the end of 2019. This shows that the power generation sector has received huge investments from the private sector.
As a result, during this period, India’s installed capacity has increased by an average of 9%, and the power supply has also been significantly improved. The maximum deficit limits are 0.7% and 0.5%, which are equivalent to 10.1% and 12.72% in the FY 2009-10 respectively.
India’s share of total global primary energy demand is set to double to 11% by 2040, underpinned by strong population growth and economic development. Power generation is anticipated to increase by 207% to 4,781 TWh by 2040, accounting for 61% of primary energy demand growth. While India’s dependence on coal would remain, generation from RE is projected to contribute around 38% from 16% currently. This will become possible with a continued fall in solar and wind tariffs and government impetus on Renewable Energy development.
FINANCIALS OF STERLITE POWER TRANSMISSION LIMITED(In Rs. Crores)
Particulars (Cr) | 2020 | 2019 | 2018 | 2017 |
Revenue | 5,158 | 3,571 | 2,972 | 2,673 |
EBITDA | 2,406 | 450 | 850 | 844 |
EBITDA Margins | 0.47 | 0.13 | 0.29 | 0.32 |
PAT | 942 | -524 | 238 | -361 |
PAT Margins | 0.18 | -0.15 | 0.08 | -0.14 |
EPS | 153.91 | -85.6 | 38.96 | -59.01 |
BALANCE SHEET OF STERLITE POWER TRANSMISSION LIMITED (In Rs. Crores)
Particulars | 2020 | 2019 |
ASSETS | ||
NON-CURRENT ASSETS | ||
Tangible assets | 4,504.84 | 4,284.25 |
Intangible assets | 48.06 | 73.10 |
Other non-current assets | 1,053.76 | 1,583.98 |
TOTAL NON-CURRENT ASSETS | 5,606.66 | 5,954.29 |
CURRENT ASSETS | ||
Inventories | 392.28 | 199.20 |
(i) Trade Receivables | 553.95 | 691.16 |
(ii) Cash and Bank balances | 1,297.99 | 578.55 |
(iii) Loans | 28.28 | 26.07 |
(iv) Investments | 29.94 | 80.23 |
Other current assets | 1,237.39 | 4,719.97 |
TOTAL CURRENT ASSETS | 3,539.84 | 6,295.17 |
TOTAL ASSETS | 9,146.50 | 12,249.46 |
EQUITY AND LIABILITIES | ||
Equity share capital | 12.24 | 12.24 |
Other Equity | 48.52 | -687.78 |
TOTAL EQUITY | 60.76 | -675.54 |
LIABILITIES | ||
NON CURRENT LIABILITIES | ||
Borrowings | 3,956.08 | 4,695.72 |
Other financial liabilities | 8.96 | 4.59 |
Provisions | 68.00 | 27.88 |
Other non-current liabilities | 128.34 | 26.94 |
TOTAL NON CURRENT LIABILITIES | 4,161.38 | 4,755.13 |
CURRENT LIABILITIES | ||
Borrowings | 1,376.94 | 1,124.20 |
(i) Trade payables | 779.78 | 834.17 |
(ii) Other financial liabilities | 2,454.64 | 1,600.62 |
Other current liabilities | 312.99 | 4,610.89 |
TOTAL CURRENT LIABILITIES | 4,924.36 | 8,169.88 |
TOTAL LIABILITIES | 9,085.74 | 12,925.00 |
TOTAL EQUITY AND LIABILITIES | 9,146.50 | 12,249.46 |
DIVIDEND AND RETAINED EARNINGS
Particulars | 2020 | 2019 | 2018 |
Dividend | Nil | Nil | Nil |
Retained Earnings (Consolidated) (In Rs. Crore) | -562.98 | -1,040.61 | -528.20 |
PERFORMANCE OF THE COMPANY
The company’s consolidated income for FY 2019-20 was at ₹5,158.30crore, a 44% increase from ₹3,571.50crorein FY 2018-19.
The company’s consolidated EBITDA was ₹2,405,60crore in FY 2019-20, a 434% increase from ₹450.10crore in FY 2018-19.
The company’s consolidated profit was ₹941.70crorein FY 2019-20, compared to a loss of ₹523.70crore in FY 2018-19. The increase in the profit was mainly driven by profit on the sale of commissioned assets, both in India & Brazil.
As part of the asset monetization strategy, the company has made a framework agreement with IndiGrid Trust to sell its 5 assets after commissioning at a set price under certain conditions. The company has replicated a similar profit model in Brazil. During the year, the company has obtained additional liquidity of US$24.5 million through the monetization of three projects in India, NRSS 29, OGPTL, and ENICL, and three projects in Brazil, Pampa, Arcoverde, and Nova Estado.
In addition, in August 2020, the company sold 14.7% of IndiGrid's shares at a total value of US$8.4 billion, thus they made their funds free for new projects and reduced their debt burden.
The company has not given any dividend for the past 3 years.
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