Page 21 - Index

02-40 CORPORATE OVERVIEW 41-59 STATUTORY REPORTS 60-147 FINANCIAL STATEMENTS
STRONG FINANCIAL POSITION
We have a strong balance sheet position with external borrowing as on March 31, 2022 being less than 6% of AUM providing us enough headroom to grow without diluting Unitholders’ interest. Our low leverage and cash flow visibility are enablers for our AAA credit rating from ICRA, CARE and CRISIL, which provides us the foundation to avail low-cost debt to support our debt-funded acquisition strategy.
POSITIONED TO CAPTURE GROWTH OPPORTUNITIES AS AN ESTABLISHED MONETISATION VEHICLE
Our Sponsor has been assigned annual monetisation targets by GoI under its National Monetisation Pipeline which also lays emphasis on InvITs as a mode of monetisation. As a ready vehicle set up by the Sponsor, PGInvIT stands to benefit as a preferred route of monetisation considering shorter turnaround time and existing pool of investors. Further sustained growth in power transmission in India, envisaged over the years, would provide a continuous pool of acquisition opportunities. This would provide us with new opportunities for acquisition-led growth, in addition to our Sponsor’s robust pipeline of TBCB assets.
PROVEN OPERATIONAL AND FINANCIAL PERFORMANCE TRACK RECORD
Our portfolio assets, led by the O&M expertise and best practices implemented by our Project Manager, have consistently operated above targeted availability of 98%, earning steady revenues including incentives. Further, our assets, all of which are in the well-regulated power transmission sector, are characterised by low operating risk and O&M expenditure.
SKILLED AND EXPERIENCED INVESTMENT MANAGER HAVING STRONG CORPORATE GOVERNANCE PHILOSOPHY
Our Investment Manager, POWERGRID Unchahar Transmission Limited (PUTL), has strong management and operational experience in power transmission. Being managed by qualified personnel having decades of experience, we expect to benefit from their skills and experience in taking investment decisions and financially managing the assets. Their robust corporate governance framework and policies for related party transactions, distribution and borrowings, ensures protection of interest of the Trust and its unitholders.
POWERGRID Infrastructure Investment Trust 19