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Swing Capital

PTC India Ltd

NSE: PTC BSE: 532524Energy

PTC India Limited was established in 1999 by the Government of India as a Public-Private Initiative and is in the power trading business. It is promoted by Power Grid Corporation of India Limited (PGCIL), NTPC Limited (NTPC), Power Finance Corporation Limited (PFC) and NHPC Limited (NHPC). [1][2]

₹205
52W: ₹150 — ₹230
PE 15 · Book ₹157 · +31% vs book
Market Cap₹6,077 Cr
Stock P/E15Price to Earnings
ROCE11.9%Return on Capital
ROE9.66%Return on Equity
Div. Yield5.7%Face Value ₹10

Strengths

  • +Company has reduced debt.
  • +Company is almost debt free.
  • +Stock is providing a good dividend yield of 5.69%.
  • +Company has been maintaining a healthy dividend payout of 55.2%

Weaknesses

  • −The company has delivered a poor sales growth of -1.03% over past five years.
  • −Promoter holding is low: 16.2%
  • −Company has a low return on equity of 8.99% over last 3 years.
  • −Earnings include an other income of Rs.911 Cr.

Shareholding Pattern

Promoters16.22%
FIIs27.46%
DIIs7.52%
Public45.43%
CategoryJun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters16.22%16.22%16.22%16.22%16.22%16.22%16.22%16.22%
FIIs33.07%33.31%▲0.228.67%▼4.625.72%▼3.028.75%▲3.028.92%▲0.227.81%▼1.127.46%▼0.3
DIIs5.78%5.73%▼0.05.69%▼0.06.77%▲1.16.81%▲0.06.83%▲0.06.71%▼0.17.52%▲0.8
Public41.55%41.35%▼0.246.05%▲4.747.92%▲1.944.85%▼3.144.65%▼0.245.89%▲1.245.43%▼0.5

Financial Statements

MetricSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales4,8803,2253,3324,5254,9663,2642,7743,8675,3273,284
Expenses4,7623,1463,1934,3684,6383,1182,7603,7925,2293,233
Operating Profit1197913915732814614759851
OPM %2%2%4%3%7%4%1%2%2%2%
Net Profit133638310611611152110513483
EPS ₹4.52.122.83.593.943.7417.613.544.522.79

AI Insights

Revenue Trend

TTM revenue at ₹15,252Cr, down 2.3% YoY. OPM at 2%.

Debt Position

Borrowings at ₹1Cr. Debt-to-equity ratio: 0.00x. Healthy balance sheet.

Institutional Flow

DIIs: 7.52% (-0.79pp change). FIIs: 27.46% (-0.82pp change). Promoters hold 16.22%.

Margin & Efficiency

ROCE declining from 15% (Mar 2014) to 12% (Mar 2025). Working capital days: 40.

Valuation

PE 15x with 11.9% ROCE. Price is 31% above book value of ₹157. Dividend yield: 5.7%.

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