DPU guidance for FY23 to remain at par with FY22 will participate in more projects from the sponsor in Q3/Q4 | POWERGRID Infrastructure Investment Trust Q4 FY22 Conference Call Highlights

• Q4 FY22 Revenue & EBITDA at Rs 378.6 Cr and Rs 350.1 Cr respectively. Margin at 92.4%.
• FY22 Revenue at Rs 1,243 Cr and EBITDA margins at 94%.  
• Distribution per unit is Rs 3 for Q3FY22 and total distribution is Rs 10.5 per unit in FY22.
• Total Debt/ InvIT Assets <5%, hence, significant headroom for Debt funding for acquisition.
• Highest Credit Rating ‘AAA’ by CARE, CRISIL & ICRA.
• Acquired Balance 26% Equity Stake of PVTL From Sponsor: eligible for acquisition after completion of 5 years from (COD)Commercial Operation Date in January 2022 for Rs 330.7 Cr.
• Additional Revenues Accruing to 3 SPVs: Additional annual transmission charges allowed by CERC (Central Electricity Regulatory Commission) on account of increased costs due to change in law (PPTL: 2.787%; PWTL: 3.445%; PJTL: 5.89%). Acquisition price was Rs 304 Cr.
• Acquisition of balance 26% stake in PKATL: Completion of 5 years from COD in Jul’22. Right with PGInvIT to acquire balance stake, in line with TSA (transmission service agreements) conditions. Debt funding tied up Monetization by Sponsor in FY2022-23.
•  Strong pipeline of (transmission based competitive bidding) TBCB Special purpose vehicle (SPVs) with Sponsor. Monetization target of Rs.7,500 crore for FY22-23 set for Sponsor under National Monetisation Pipeline. Targeted through debt.
• Availability of 99%+.
• DPU guidance for FY23 to be around Rs 12 per unit.

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