IndiGrid Posts Rs 5,609 Mn Revenue in Q1

IndiGrid consolidated revenue for the quarter was up 1% YoY in Q1 FY23 to Rs 5,609 million while the consolidated EBITDA increased by 2% YoY at Rs 5,122 million.

July 27, 2022. By News Bureau

IndiGrid consolidated revenue for the quarter was up 1% YoY in Q1 FY23 to Rs 5,609 million while the consolidated EBITDA increased by 2% YoY at Rs 5,122 million. The marginal increase was underpinned by robust asset management despite no major acquisitions during the period.

The Board of the Investment Manager also approved a Distribution Per Unit (DPU) of ~Rs 3.30 for Q1 FY23 to unitholders in line with the distribution guidance of INR 13.20 per unit for FY23. The record date for the distribution is August 01, 2022 and shall be paid as ~Rs 3.06 per unit in the form of interest and ~Rs 0.24 per unit as capital repayment. With this, IndiGrid has distributed ~INR 61.8 per unit to its investors over the last 5 years since its listing, a total return1 of ~101% on the issue price. The consolidated net debt / AUM stood at 58% as of June 30, 2022, leaving significant debt headroom for future growth.

Over the last 5 years, IndiGrid has achieved tremendous growth through value-accretive acquisitions, superior asset management framework and best-in-class governance practices while ensuring continued stability and predictability in the platform.

Commenting on the financial results, Jyoti Kumar Agarwal, Chief Executive Officer, said, “Our performance this quarter has been on expected lines, and we are on track to meet the FY23 distribution guidance of INR 13.20 per unit. Going forward, we will continue to focus on generating superior and sustainable returns for our investors on the back of our AAA rated balance sheet, resilient operations and accretive acquisitions. With the implementation of DigiGrid across the entire portfolio, we are confident it will enable us to strengthen our operational capabilities through predictive, preventive and risk-based maintenance practices.

Going forward, we remain optimistic about the growth potential of the power sector in India on the back of supportive regulatory policies and growing investments. We believe we are well-positioned to tap into the opportunities in transmission, solar sector and other related adjacencies in the country.”
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