PTC India Ltd
NSE:PTC
PTC India Ltd
PTC India Ltd. is a holding company, which engages in the trading of electricity. The company is headquartered in New Delhi, Delhi and currently employs 102 full-time employees. The company went IPO on 2004-04-07. The Power segment includes trading and generation of power. The Investment segment includes investing in equity or extending debt to power projects in generation, transmission, distribution, fuel resources and fuel related infrastructure. The company offers business solutions for generators, utilities, cross border power trade solutions, PTC retail, consultancy / advisory solutions, energy efficiency, renewable energy and project financing. PTC offers a range of services to the utilities, including long and medium term sales, short term sales and power banking arrangements. The company offers PTC retail solutions to public sector undertakings (PSUs) and Central PSUs, Corporates, Industrial Clients, Commercial Clients, and independent power producers (IPPs) and captive power produces (CPPs). The Company’s subsidiaries include PTC India Financial Services Limited (PFS) and PTC Energy Limited (PEL).
PTC India Ltd. is a holding company, which engages in the trading of electricity. The company is headquartered in New Delhi, Delhi and currently employs 102 full-time employees. The company went IPO on 2004-04-07. The Power segment includes trading and generation of power. The Investment segment includes investing in equity or extending debt to power projects in generation, transmission, distribution, fuel resources and fuel related infrastructure. The company offers business solutions for generators, utilities, cross border power trade solutions, PTC retail, consultancy / advisory solutions, energy efficiency, renewable energy and project financing. PTC offers a range of services to the utilities, including long and medium term sales, short term sales and power banking arrangements. The company offers PTC retail solutions to public sector undertakings (PSUs) and Central PSUs, Corporates, Industrial Clients, Commercial Clients, and independent power producers (IPPs) and captive power produces (CPPs). The Company’s subsidiaries include PTC India Financial Services Limited (PFS) and PTC Energy Limited (PEL).
Trading Volume Growth: Despite sluggish national energy demand growth of less than 1%, PTC India's trading volumes grew 9% year-to-date and 4% in the quarter.
Revenue & Profit Decline: Operational income and profits declined year-over-year for both the quarter and nine-month period, driven primarily by lower rebate and surcharge income due to improved liquidity at DISCOMs.
Margins & Mix: Short-term trading margins improved quarter-over-quarter, while trading income rose 9% in the nine-month period, supported by higher volumes and margin realization.
Cash Position: The company has significant cash reserves (INR 3,292 crores), with about INR 2,000 crores earmarked for working capital and the remainder under review for new investments.
Promoter Changes: NTPC will become the sole promoter as other promoters relinquish their rights, but further operational or M&A synergies are yet to be detailed.
Market Coupling Outlook: Regulatory clarity is awaited before market coupling is implemented, but management sees this as positive for HPX (their associated power exchange).
Investment & CapEx: Management is exploring investment opportunities and MOUs, including with SECI and NLC India, but no concrete deployment plans have been announced.
Dividend/Buyback: No buyback, bonus, or rights issue is under current consideration.
