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  • unlisted stock logo
    Sterlite Power Transmission Ltd Unlisted Shares Essentials

ISIN

INE110V01015

Face Value

₹2.00

Total Share

6,11,81,902

Total Income

₹5,188.35 Cr

Profit After Tax

₹941.66 Cr

Promoter Holding

76.00 %

EPS

₹153.91

P/E

11.70

P/B

1800.00

Market Capitalisation

₹11,012.74 Cr

Sector

Utilities

Sub-sector

Power Transmission & Distribution

Cashflow - Operations

₹609.87 Cr

Cashflow - Financing

₹811.14 Cr

Sterlite Power Transmission Ltd Growth

Compounded Sales Growth

  • 44.52%

    1 Year

  • 31.73%

    2 Year

  • 24.55%

    3 Year

Pro Only

Compounded Profit Growth

  • NA

    1 Year

  • 98.76%

    2 Year

  • NA

    3 Year

Pro Only

Return On Equity

  • -306.34%

    1 Year

  • 143.24%

    2 Year

  • -164.86%

    3 Year

Pro Only

About Sterlite Power Transmission Ltd

  • Sterlite Power Transmission Limited is an unlisted public company. It was incorporated on 05 May, 2015 and is located in Pune, Maharashtra. It is classified as a public limited company.The company has six directors - Arun Todarwal Lalchand, Pravin Agarwal, and others, The company operates as an electricity transmission and distribution services.


  • Sterlite Power is a leading global developer of power transmission infrastructure with projects of over 12,500 circuit km and 22,719 MVA in India and Brazil.


  • With an industry-leading portfolio of power conductors, EHV cables, and OPGW, Sterlite Power also oers solutions for upgrading, praying, and strengthening existing networks. The company has set new benchmarks in the industry by use of cutting-edge technologies and innovative nancing.


  • Sterlite Power is also the sponsor of IndiGrid, India’s rst power sector Infrastructure Investment Trust (InvIT), listed on the BSE and NSE.


  • The total paid-up capital is INR 15.84 cr. The last reported AGM (Annual General Meeting) of the company, per our records, was held on 30 September, 2019.


  • Sterlite Power (as a division of STL) was awarded India’s first Independent Power Transmission Project under Tariff Based Competitive Bidding (TBCB) regime.


  • They bid for Govt. projects to install transmission lines to provide electricity across the country. In turn, they get Annual charges and variable charges for supplying electricity. The bidding of projects done at the "Tari Based Competitive Pricing" model adopted by Govt. of India. To date, they have got 15 projects in India based on this bidding model and have successfully implemented them.


  • After getting projects, they commissioned and maintain transmission lines. The availability of transmission lines is one of the key parameters that govt. looks for and put ne as well if it goes below a certain level. The Sterlite Power has a transmission line availability of 99.8%.

  • Sterlite Power Transmission Ltd Merger & Acquisition

Merger

Mergers & Acquisitions

  • Merger of Sterlite Power Grid Ventures Limited with Sterlite Power Transmission Limited The board in its meeting held on May 30, 2018, approved merger of Sterlite Power Grid Ventures Limited (“SPGVL”), its wholly owned subsidiary with Sterlite Power Transmission Limited (“SPTL”) subject to the approval of NCLT.


  • Disinvestment in Sterlite Grid 2 Limited, Sterlite Grid 3 Limited and East-North Interconnection Company Limited Sterlite Power entered into a marquee deal with India Grid Trust for sale of its commissioned projects thereby transferring Sterlite Grid 2 Limited along with its subsidiary and Sterlite Grid 3 Limited along with its subsidiary. In addition, the Company also entered into a framework agreement with India Grid Trust to monetize under construction projects in phased manner post commissioning.


  • Disinvestment in Sterlite Investment Managers Limited The company had entered into Share Subscription and Purchase Agreements with Electron IM Pte. Ltd. Pursuant to the said agreement the Company had diluted 60.0% of its stake in Sterlite Investment Managers Limited (“SIML”) in the following manner: i. SIML had issued and allotted 12,49,000 equity shares representing 19.9% of the share capital of SIML to Electron IM Pte. Ltd. (“Electron”), an affiliate of KKR & Co. ii. Further, the Company has sold 24,99,875 equity shares representing 40.0% of the share capital of SIML to Electron. With the consummation of the above transaction the company now holds 40.0% stake in SIML as compared to 100.0% stake on March 31, 2019.


  • Disinvestment in Pampa Transmissao de Energia S.A., Arcoverde Transmissao De Energia S.A., and Sterlite Novo Estado Energia S.A. (Brazil Entities) During the year, the group has sold its equity stake in Pampa Transmissao de Energia S.A. (Formerly known as Sterlite Brazil Projetos de Transmissao de Energia S.A), Arcoverde Transmissao De Energia S.A., Brazil & Sterlite Novo Estado Energia S.A, Brazil. Consequent to this, the Group has de-recognized these Power Transmission Assets and gain of INR 408 Cr.  has been recognized on this sale

  • Sterlite Power Transmission Ltd Subsidiaries

  • Sterlite Investment Managers Limited
  • Sterlite Interlinks Limited
  • Sterlite Power Transmission Ltd Industry Overview

Industry Statistics

  • Power is among the most critical component of infrastructure, crucial for the economic growth and welfare of nations. The existence and development of adequate infrastructure is essential for sustained growth of the Indian economy.


  • India’s power sector is one of the most diversified in the world. Sources of power generation range from conventional sources such as coal, lignite, natural gas, oil, hydro and nuclear power to viable non-conventional sources such as wind, solar, and agricultural and domestic waste.


  • The total energy generated in India stood at 1.3 lakh BU and growing at a rate of 18.4% per year.


  • In May 2018, India ranked fourth in the Asia Pacific region out of 25 nations on an index that measured their overall power. India ranked sixth in the list of countries to make significant investments in clean energy at US$ 90 billion


  • The Government of India has released its roadmap to achieve 227 GW capacity in renewable energy (including 114 GW of solar power and 67 GW of wind power) by 2022. The Union Government of India is preparing a 'rent a roof' policy for supporting its target of generating 40 gigawatts (GW) of power through solar rooftop projects by 2022.


  • Coal-based power-generation capacity in India, which currently stands at 199.5 GW, is expected to witness total installed capacity addition of 47.86 GW by 2022.

Market overview: 

  • Indian power sector is undergoing a significant change that has redefined the industry outlook. Sustained economic growth continues to drive electricity demand in India. 


  • The Government of India’s focus on attaining ‘Power for all’ has accelerated capacity addition in the country. At the same time, the competitive intensity is increasing at both the market and supply sides.


  • By 2022, solar energy is estimated to contribute 114 GW, followed by 67 GW from wind power and 15 GW from biomass and hydropower. The target for renewable energy has been increased to 227 GW by 2022.


  • In FY21, the total thermal installed capacity in the country stood at 234.72 GW. Installed capacity of renewable, hydro and nuclear energy totaled 94.43 GW, 46.21 GW and 6.78 GW, respectively

Future Prospects

  • Growing demand: India ranked sixth in the list of countries to make significant investment in clean energy by allotting 6.48 lakh Cr. in between 2010-2019. 


  • Higher investments: As per the National Infrastructure Pipeline 2019-25, energy sector projects accounted for the highest share (24.0%) out of the total expected capital expenditure of INR 111 lakh Cr.


  • Policy support: Electrification in the country is increasing with support from schemes like Deen Dayal Upadhyay Gram Jyoti Yojana (DDUGJY), Ujwal DISCOM Assurance Yojana (UDAY), and Integrated Power Development Scheme (IPDS). 


  • Attractive opportunities: Under the Union Budget 2021-22, the government allocated INR 305,984 Cr. for a revamped, reforms-based and result-linked new power distribution sector scheme over the next five years

Government Initiatives

The Government of India has identified power sector as a key sector of focus to promote sustained industrial growth. Some initiatives by the Government to boost the Indian power sector are as below:


  • In April 2021, the Ministry of Power (MoP) released the draft National Electricity Policy (NEP) 2021. The MoP has created an expert committee including members from state governments, the Ministry of New and Renewable Energy (MNRE), NITI Aayog and the Central Electricity Authority (CEA).


  • As per the Central Electricity Authority (CEA) estimates, by 2029-30 the share of renewable energy generation would increase from 18.0% to 44.0%, while that of thermal is expected to reduce from 78.0% to 52.0%.


  • On November 17, 2020, Energy Efficiency Services Limited (EESL), a joint venture of PSUs under the Ministry of Power and Department of New & Renewable Energy (DNRE), Goa, signed a memorandum of understanding to discuss roll-out of India’s first Convergence Project in the state.


  • In October 2020, the government announced a plan to set up an inter-ministerial committee under NITI Aayog to forefront research and study on energy modelling. This, along with a steering committee, will serve the India Energy Modelling Forum (IEMF) jointly launched by NITI Aayog and the United States Agency for International Development (USAID) 


  • The Government of India has allocated Rs. 111 lakh Cr. under the National Infrastructure Pipeline for FY 2019-25. The energy sector is likely to account for 24.0% capital expenditure over FY 2019-25.

Sterlite Power Transmission Ltd Awards & Achievements

  • 'Construction Project of the Year' at the S&P Global Platts Global Energy Awards 2019


  • Gold Winner in the IPMA Global Project Excellence Award 2019 for the mega-sized projects category


  • ET Innovation Award 2020 for innovative product Skyrob


  • Occupational Health Safety Awards at the Golden Peacock Awards 2020


  • Dual honor of ‘Utility M&A Deal of the Year’ and ‘Utility Deal of the Year’ in Best Deals category at The Asset Triple A Asia Infrastructure Awards 2020


  • Our innovative financial model featured as a case study by India’s premier management institute– IIM Ahmedabad


  • 'Safety in Electricity Award' in Gold category at the Protection Brazil Awards 2019 for the use of drones and other technologies in crossing energized transmission lines


  • Platinum Winner in the Earth & Environment Foundation (EEF) Global Sustainability Award 2019 for outstanding achievements in sustainability management

Sterlite Power Transmission Ltd Strengths

  • Company’s total circuit kilometer of power transmission lines commissioned or under construction increased by 137.0% for 2019-20 as compared to 2018-19. 


  • The company has won 25 power transmission projects under Public-Private Partnerships (PPP); 15 in India under TBCB and 10 in Brazil.


  •  The company has 31.5% market share by tariff of inter-state projects awarded under competitive bidding in India 


  • The company has 99.8% availability achieved across their commissioned assets in FY 2019-20

Sterlite Power Transmission Ltd Shortcomings

  • A significant portion of total income for FY 2020 came from other income.


  • The company’s revenue from operations for FY 2020 has decreased by 15.5%.


  • The company has an extraordinarily high debt-to-equity ratio which makes debt risk of the company extremely high.

Sterlite Power Transmission Ltd Opportunities

  • The company’s current liquidity is below average, it has scope to improve.

  • The company can reduce its dependence on debt.


  • Sustained economic growth continues to drive electricity demand in India. The Government of India’s focus on attaining ‘Power for all’ has accelerated capacity addition in the country. 

Sterlite Power Transmission Ltd Threats

  • At the same time, the competitive intensity is increasing at both the market and supply sides. Companies like NTPC, Power Grid Corp, Tata Power, Reliance Power and Adani transmission.
Sterlite Power Transmission Ltd Rating

  • RECOMMENDATION

    Not Buy

  • Sterlite Power Transmission Ltd Detail Info

Industry Statistics

PUBLIC LIMITED

Registered In

India

Registered Date

05/05/2015

Planify Ticker

STEPOWER

Reg Office: 4th Floor, Godrej Millennium, 9 Koregaon Road, Pune-411001, Maharashtra

Website: http://www.sterlitepower.com