Sterlite Grid 5 Ltd
The demerged transmission-project developer of the Sterlite Power group, building inter-state lines and monetising them through IndiGrid.
Market cap
₹1,989 Cr
6.12 Cr shares
P/E ratio
49.69
Sector average 30
Book value
₹212.42
P/B 1.53
1-year return
-11.23%
52w ₹270 – ₹420
Currently 37% of the way through its 52-week range.
Indicative price history
1Y change
-11.23% ₹366 → ₹325
52-week band in this window: ₹318.90 – ₹407.61. Weekly indicative marks, not exchange-traded prices.
Key highlights
- Holds the transmission-project business demerged from Sterlite Power in 2025.
- Develop-build-sell model with IndiGrid as the usual buyer of completed lines.
- Mirror shareholding with Sterlite Electric; about 73% held by the Agarwal family's Twin Star.
About Sterlite Grid 5
Sterlite Grid 5 Ltd holds the transmission-infrastructure business carved out of Sterlite Power Transmission Ltd in the 2025 demerger. It bids for tariff-based competitive-bidding (TBCB) inter-state and intra-state transmission projects, builds them through special-purpose vehicles and typically sells completed assets to India Grid Trust (IndiGrid), the InvIT the group sponsored, or other long-term owners. Its pipeline includes several thousand crore of projects under construction in India, plus interests in Brazilian transmission concessions.
Reported revenue is lumpy: it recognises construction revenue during the build phase and large gains when assets are sold, so year-to-year figures swing and project debt on the balance sheet is high until each asset is monetised. Net worth is roughly ₹1,300 Cr with borrowings of several thousand crore at the SPV level.
Shareholders of Sterlite Power received Sterlite Grid 5 shares one-for-one in the demerger, so the share count and promoter holding mirror Sterlite Electric.
Data-quality note: this profile was compiled without live web verification because the research session's search budget was exhausted before this company was reached. Registry identifiers are left blank, the director list is limited to publicly known names, and all financial line items are reconstructed around approximate totals from analyst recall rather than reported figures. Line items are reconstructed around reported totals; treat them as approximate and verify against MCA filings before relying on them.
Where the revenue comes from
- Transmission project development (India)75%
TBCB inter-state and intra-state lines under construction
- Asset monetisation gains15%
Sale of completed SPVs to IndiGrid and others
- Brazil and international10%
Transmission concessions in Brazil
Products & services
TBCB transmission projects
Inter-state and intra-state lines and substations won through competitive bidding.
Asset monetisation
Sale of completed SPVs to IndiGrid and other long-term owners.
What works
- • Proven develop-build-sell model with IndiGrid as a ready buyer for completed assets.
- • Large TBCB pipeline as India adds inter-state capacity for renewable evacuation.
- • Sponsor track record of executing difficult lines and Brazilian concessions.
What to watch
- • High project leverage and construction risk; right-of-way delays can erode returns.
- • Lumpy earnings dependent on asset sales; a delayed sale can produce a loss year.
- • Financials shown are estimates for a newly demerged entity with limited public data.