PTC India Ltd
PTC India Ltd (PTC)

PTC India Ltd (PTC)

₹85.30.7%

Key Stats

₹84.3
Day's Price Range
₹85.9
₹78.5
52-Week Price Range
₹144.4
1 Month Return-8.19 %
3 Month Return-1.75 %
1 Year Return-7.03 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 20
5.3
EPS
Rank 22
₹15.97
BVPS
Rank 16
₹149.32
Dividend Yield
Rank 1
9.61%
ROE
Rank 56
12.57%
Price To Book Ratio
Rank 28
0.56
Debt To Asset
Rank 32
0.78

Company Information

PTC India Limited PTC is the leading provider of power trading solutions in India. Its primary focus is to develop a commercially vibrant power market in the country. PTC Indias subsidiary PTC India Financial Services Limited PFS provides total financing solutions to the energy value chain. PTC India holds 65 stake in PFS. PTC Indias wholly owned subsidiary PTC Energy Limited has renewable energy portfolio of 288.8 MW consisting of 50 MW wind power projects in Madhya Pradesh 50 MW wind power project in Karnataka and 188.8 MW wind power projects in Andhra Pradesh. PTC was born on 16th April 1999 out of the need for an institution which would provide credit risk mitigation to private power project developers. At a point in time when no private player was willing to venture into this arena the Government initiated the inception of the company. The trading activities undertaken by PTC include long term trading of power generated from large power projects as well as short term trading arising as a result of supply and demand mismatches which inevitably arise in various regions of the country. Today the company is not just the leading power trader in the country but has also diversified into the unique role of being a Complete Energy Solutions Provider. The Company commenced its business on 15th July of the year 1999 with initial contribution from POWERGRID NTPC Power Finance Corporation and Individuals. The development agreement for the project Hirma Mega Power Project 6x660 MW Orissa on the lines of Memorandum of Understanding MoU was signed during September of the year 2000 in Washington DC. At first time that the company had entered into Power Purchase Agreement PPA in the year 200001 with a generating company in a state and a private sector company for interregional / interstate trading of power and also during the same period PTC notified as the Nodal Agency for exchange of power between India and Nepal. An agreement was signed in February 2001 between the company and the West Bengal Power Development Corporation Ltd. WBPDCL in Eastern Region for purchase of power up to 200 MW for supply to the neighbouring regions. Since July 2001 PTC had started trading of power on a sustainable basis it provided the best value to both the buyers and sellers while ensuring optimum utilization of resources. During the year 2002 the company had purchased office accommodation in the NBCC Tower at Bhikaji Cama Place to shift its registered office. PTC had shifted its focus from very large power projects to small and medium sized projects in the year 200203 that are promoted by IPPs. And also in the same year of 200203 MoUs had been signed with developers of projects like Lower Middle Kolab hydro power projects in Orissa Samal hydro power project in Orissa Vemagiri Gas based Project in Andhra Pradesh besides those of large projects like Maithon Thermal Project in Jharkhand and West Seti Hydroelectric Project in Nepal. The Company made its Initial Public Offering IPO in the year of 2004 and also in the identical year PTC had structured innovative products to address the opportunities across all timeepochs. PTC had conceptualized various product modules for sale of surplus power namely Round the clock Evening peak Night OffPeak Afternoon OffPeak 18 hours a day Off Peak etc. with variation in price to meet the requirements of customers. The Company took its first decision on acquisition of an equity stake in generation in the 330 MW LANCO Amarkantak Power Project during the year 200405. PTC had entered into an agreement with SWECO Groner AS Norway in September of the year 2005 for cooperation in the field of Nordic Power Market Experiences and their Relevance for the Evolving Power Market in India. In 2006 the company had entered into longterm Power Purchase / Sale agreements for five projects totaling a capacity of 4000 MW and also the Lanco Amarkantak project in Chhattisgarh where PTC had previously picked up an 11 stake achieved financial closure and entered the construction phase. India Infrastructure Finance Company Ltd and PTC had signed an MOU in May of the year 2007 to facilitate encourage and promote the development and construction of power projects including thermal hydro and other sources. The Company Indian Renewable Energy Development Agency Limited IREDA and PTC India Financial Services Ltd. PFS had entered into MoU to provide a range of services for both fee and fund based activities and offtake marketing of power focused upon renewable energy projects it was signed in April 2008.Meenakshi Energy Pvt. Ltds project of 2x150 MW capacity in Andhra Pradesh has been commissioned on 30th April 2013. The aforementioned Power Tolling Agreement was converted into a Power Trading Agreement between Meenakshi Energy Pvt. Ltd and PTC India during FY 201314. GMR Kamalanga Energy Ltds project in Orissa has been commissioned on 30th April 2013. PTC has tied up 323 MW from this project under Case1 bidding route to Haryana Discoms. Power flow under the PSA to Haryana Discoms commenced w.e.f. 7th February 2014.During the year 2014 PTC entered into Power Purchase Agreements with M/s. Ideal Energy Private Limited for 240 MW power. PTC has signed long term Power Purchase Agreements PPAs with the generators for a cumulative capacity of about 11560 MW for further sale of power to Discoms which includes CrossBorder power trade. The projects are based on domestic coal imported coal gas and hydro resources.In addition to the above projects PTC has also signed MoUs/MoAs with number of Project developers during the FY 201314 for purchase of power aggregating to approximately 1332 MW. Cumulative MoUs/MoAs at the end of the year by PTC is around 11329 MW based on domestic coal imported coal wind and hydro resources.During FY2014 PTC has tiedup for purchase of 100 MW from M/s. Bharat Aluminium Company Ltds thermal power plant in Chhattisgarh and sold the power to Kerala State Electricity Board through Medium Term Case1 tender for 3 years. The Power supply is scheduled to commence from 1 March 2014 as per the PSA subject to availability of Open Access.During FY 2014 PTC has signed PSAs with UP Discoms for sale of 390 MW power from TRN Energy Ltds plant in Chhattisgarh and 361 MW power from MB Power Ltds Plant in Madhya Pradesh for 25 years under Case 1 competitive bidding process. The Power flow under the PSAs is scheduled to commence from 30 October 2016.During FY 2014 PTC has signed PSAs with Rajasthan Discoms for sale of 410 MW power from DB Power Ltds plant in Chhattisgarh and 250 MW power from Maruti Clean Coal Power Ltds project in Chhattisgarh for 25 years under Case 1 competitive bidding process. The Power flow under the PSAs is scheduled to commence from 30 November 2016.During FY 2014 PTC has signed PSA with Tamil Nadu Generation and Distribution Corporation Limited TANGEDCO for 100 MW power from M/s. Adhunik Power Natural Resources Ltds project for 15 years under Case1 Competitive Bidding Process. The Power flow as per the PSA is scheduled to commence from 1June 2014 subject to availability of Open Access.During FY 2014 PTC has signed PSA with Bangladesh Power Development Board BPDB for supply of 250 MW power from the State Power Pool of West Bengal State Electricity Distribution Company Limited WBSEDCL on medium term basis 3 years through International Competitive bidding process. The Power flow under the PSA has commenced from 3 December 2013.During the year 201415 PTC entered into Power Purchase Agreements with M/s. Tangsibji Hydro Energy Limited THyE for about 118 MW power from their Nikachu hydropower project being developed in Bhutan through a Competitive Bidding Process. During FY 201415 PTC has executed Power Sale Agreement with Assam Power Distribution Company Limited APDCL for the total contracted capacity of about 85 MW to be purchased from 118 MW Hydro power projects being developed by M/s. Tangsibji Hydro Energy Limited THyE in Bhutan. PTC Energy Limited PEL had invested Rs. 23.40 crore constituting 48 equity in RS India Global Energy Limited RSIGEL with a view to undertake joint development of wind farm in Tamil Nadu. However it came to PELs notice that the Promoters of RS Group made several misrepresentations and induced PEL to invest money as equity in RSIGEL as per legal advice the same fall in the domain of criminality and accordingly PEL has lodged a complaint with the Economic Offence Wing of Delhi Police. PEL is contemplating other legal recourses to recover its investment. In FY 201516 the Company added long term power supply to an extent of 461 MW to UP and Tamil Nadu. With this addition total capacity under longterm power supply has reached to 2571 MW. During the year 2016 the company participated in the tariff based competitive bidding and received LOI Letter of Intend for supply of 40 MW power to Bangladesh Power Development Board for 2 years. The company has also signed a shortterm agreement with Nepal for supply of up to 30 MW RTC Power for the period starting from 1st November 2015 to 30th June 2016. The company has added reputed organizations such as Delhi Metro Rail Corporation Indian Railways SAIL Reliance Industries ACC Cements and MRF Tyres etc. in its client list.In FY16 the company increased its presence in the portfolio management business for the Utilities segment as it executed agreements with Jharkhand Bijli Vitran Nigam Limited and Indian Railways for managing their power portfolio. New Delhi Municipal Corporation has extended the agreement for management of NDMCs power portfolio by another three years. Further PTC and Railways Energy Management Company have together set up a control room in PTC Office for managing the power portfolio of Indian Railways. State utilities and generators such as Department of Power Arunachal Pradesh Government of Himachal Pradesh North Eastern Electric Power Corporation Ltd NEEPCO National Hydroelectric Power Corporation NHPC Haryana Power Generation Company Ltd and Bihar State Electricity Board were added/renewed agreement for sale/purchase of power. The company has diversified in energy efficiency space and is engaged as a project management consultant for Domestic Efficient Lighting Programme DELP schemes in four States viz Maharashtra UP Himachal Pradesh and Rajasthan. In FY16 the company formed strategic consortium with REC Transmission Projects Company Limited for jointly undertaking engineering and contracting activities for large size transmission projects. The company assisted petroleum refineries and related constituents in contract structuring and transaction advisory in procurement of power through open access under group captive or bilateral mode. The company has executed consultancy assignments on evaluating economic benefits for Special Economic Zones as deemed distribution licensees.PTC India entered into a MoU with Solar Energy Corporation of India SECI on 9 October 2015 for sale and purchase of power generated from 3000 MW solar projects for onward sale on longterm basis for full term of 25 years. PTC is also supporting SECI in managing the operational and commercial aspects of solar energy being traded through SECI under JNNSM PhaseI. The total volume facilitated for SECI was 973 MUs in FY16. During FY 2016 PTC Energy Limited PEL commissioned two wind power projects with cumulative capacity of 50 MW in Madhya Pradesh. The first of the projects of 30 MW in Jaora Ratlam District got commissioned on 8th March 2016. Further 2nd project of 20 MW Wind Power Project at Nipaniya Mandsaur District got commissioned by March 2016.During the FY 201516 PTC India has participated with about 500 MW aggregate capacities in long term and medium terms bids invited by Bangladesh which are under evaluation and had signed a Power Purchase Agreement for another 40 MW in May 2016 through competitive bidding for medium term supply to Bangladesh.PTC has participated in the tender invited by SECI in FY 201617 for selection of power trader for sale of wind power under the Ministry of New Renewable Energy scheme for 1000 MW ISTS connected wind power projects wherein PTC emerged as the successful bidder and LOI was placed on PTC. Subsequently PTC has executed MoAs with seven Discoms for the entire quantum of 1049.9 MW.PTC has participated with about 500 MW aggregate capacities in long term and medium terms bids invited by Bangladesh which are under evaluation and are likely to be finalized in FY 201718. In addition to this PTC had signed a Power Purchase Agreement for another 40 MW in May 2016 through competitive bidding for medium term supply to Bangladesh and the power supply has commenced in October 2016.In FY 1617 five wind projects of PTC Energy Limited PEL totaling 238.8 MW were commissioned as per the agreed schedule by 31 March 2017 taking its total operating capacity to 288.8 MW.During FY 2017 the company signed an MOU with Madhya Pradesh New Renewable Energy Department MPNRED for joint development of 500 MW solar projects in Madhya Pradesh. Further another MOU has been signed between PTC and MPNRED for development and sale of wind power. Under this MoU MPNRED shall facilitate in development of Wind Power Projects in the state of Madhya Pradesh selected through tariff based competitive bidding and the power generated shall be marketed and procured by PTC for onward interstate sale to various state utilities and/or Open Access consumers. In a first foray of PTC group in solar assets based business PTC has signed an MOU with South Delhi Municipal Corporation SDMC to jointly setup a 2.5MW groundmounted Solar PV project on Build Own and Operate basis at Ferozpur Haryana. The power from the proposed project shall be sold to large reputed corporate houses on longterm third party sale basis. PTCs image has been enhanced as a solar power segment by empanelment with MNRE as a highest rated channel partner for rooftop solar and small solar project scheme. Kongsberg Digital AS a Norwegian Government Company an international technology group that supplies hightechnology systems and solutions to its customers in the merchant marine defense aerospace offshore oil and gas industries and renewable utilities has approached PTC India through the Royal Norwegian Embassy for business opportunities with its software solution for performance monitoring and production forecasting of wind power projects. To create synergy from collaboration with strategic partners PTC India Kongsberg have signed an MOU to establish its strategy in India for penetration in performance monitoring and production forecasting solution for Renewable Energy Projects in India.In FY 2018 under the MNRE and SECI scheme for procurement of 1000 MW power from wind power projects through competitive bidding the company was selected as the trader partner and signed PPAs with five generating companies for procurement of 1050 MW wind power. PTC also signed PSAs with seven state Discoms and Utilities for the entire quantum. PTC is also supporting SECI in managing the operational and commercial aspects of solar energy being traded through SECI under JNNSM PhaseI and scheduled 1216.88 MUs during FY18. In retail segment the company executed its first renewable trading transactions solar and biomass for industrial/commercial customers in Rajasthan and Odisha respectively.During FY 2018 the Company in association with Kongsberg Digital AS Norway has successfully implemented first of its kind Performance Monitoring and Generation Forecasting of Hydro Power Projects in Himachal Pradesh on pilot basis. PTC India also launched first pilot Forecasting Model and Portfolio Management for Bihar for supporting them in load forecast merit order dispatch power procurement/sale scheduling etc. After successful completion of the pilot stage commercial products are under development.
OrganisationPTC India Ltd
HeadquartersNew Delhi
IndustryTrading