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PTC India Ltd - Rs. 5.50 dividend recommended - Dividend Yield @ 11.46%

Posted On: 2020-07-15 22:15:18


PTC India Ltd. (formerly known as Power Trading Corporation of India Limited), was incorporated in 1999 to undertake trading of power to achieve economic efficiency and security of supply and to develop a vibrant power market in the country. PTC holds Category I license from Central Electricity Regulatory Commission (CERC), the highest category with permission to trade unlimited volumes. PTC has maintained the largest market share since inception and is No. 1 in last 16 years of operations with its innovative products and services.

The Board of Directors of the Company at its meeting held on June 19, 2020, has recommended a dividend @ 55% (Face Value: Rs. 10 per share) i.e. Rs. 5.50/- per share to the shareholders for their approval at the ensuing Annual General Meeting of the Company.

The current stock price is Rs. 48 and the dividend yield works out to 11.46% at current market price. In BSE, the company's stock price hit a 52 week high of Rs. 68.45 (January 13, 2020) and low of Rs. 32.40 (March 24, 2020).

The company has reported consolidated net profit of Rs. 45.49 crore for the quarter ended March 31, 2020 (Q4FY20) as against net profit of Rs. 48.42 crore for the quarter ended March 31, 2019 (Q4FY19) and net profit of Rs. 61.39 crore during the quarter ended December 31, 2019 (Q3FY20). The EPS stood at Rs. 1.54 for Q4FY20 as compared to Rs. 1.64 for Q3FY20 and Rs. 2.07 for Q4FY19.

The company reported net profit of Rs. 367.55 crores for the year ended March 31, 2020 as compared to Rs. 425.28 crores for the year ended March 31, 2019. The EPS stood at Rs. 12.42 for FY2020 as against Rs. 14.37 for FY2019.

The complete operationalization of pilot one project which was accepted as thermal power project of 1,900 megawatt has been fully operationalized. The hydro power project Mangdechhu is also fully operationalized and the full benefits of these projects will kick in this financial year 2020-21. Mangdechhu project being a hydro power project, maximum output should be during the period May to September.

The company has also won the aggregator bid for Pilot - II of 2500 MW (MoP flagship scheme for resolution of stressed thermal assets).

Shares of PTC INDIA LTD. was last trading in BSE at Rs.47.75 as compared to the previous close of Rs. 48.1. The total number of shares traded during the day was 100395 in over 714 trades.

The stock hit an intraday high of Rs. 48.75 and intraday low of 47.55. The net turnover during the day was Rs. 4835388.


Source: Equity Bulls

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