PTC India has moved to a higher growth trajectory aided by a number of developments over the last three-four quarters. Some of these developments, so far not reflecting in its financials, are expected to provide a boost in the coming quarters. Even though the current P/E of 40 times looks to be on a higher side, investors can consider exposure in the stock with a medium-term outlook.
Business: Power Trading Corporation (PTC) is in the business of power trading and accounts for nearly half of all the power traded in the country. The company sources power from independent power producers, captive power plants, etc and supplies it to the state distribution boards through both short-term and long-term contracts.
The company was promoted by four power sector PSUs, which collectively hold 16.3% of its equity. Over 54% of its equity lies with domestic institutional investors and 14.6% with foreign institutions. Being in the trading business, the company operates on thin margins. However, it has quadrupled its profits in the last five years, while tripling its net sales.
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Source : http://economictimes.indiatimes.com
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