TBCB annuity rate compression
Analyst noted a deteriorating trend in CapEx-to-annuity ratios for TBCB projects, which could pressure IRRs. Management acknowledged but maintained 10-12% IRR target.
medium · analyst_question
Power Grid Corporation — Q4 FY24
Power Grid reported Q4 FY24 standalone revenue of INR 12,254 crore and PAT of INR 4,128 crore, with a slight dip versus last year due to one-time tariff arrears in Q4 FY23.
bullish
high
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Risk Intelligence
Material risks this quarter
Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.
Risks
Smart metering execution delays
Management admitted smart metering progress is slow due to teething problems in software, with only 30,000 of 69,000 meters installed.
low · management_commentarySubsidiary profit decline due to one-offs
Consolidated subsidiary profits fell YoY partly due to a one-time INR 200 crore tariff order in Q4 FY23, which may not recur.
low · data_observation