India Grid Trust Management

Management criteria checks 0/4

We currently do not have sufficient information about the CEO.

Key information

Harsh Shah

Chief executive officer

₹60.0m

Total compensation

CEO salary percentage	51.3%
CEO tenure	no data
CEO ownership	0.005%
Management average tenure	1.8yrs
Board average tenure	2.5yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Harsh Shah's remuneration changed compared to India Grid Trust's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	n/a	n/a	₹4b
Sep 30 2023	n/a	n/a	₹4b
Jun 30 2023	n/a	n/a	₹5b
Mar 31 2023	₹60m	₹31m	₹5b
Dec 31 2022	n/a	n/a	₹4b
Sep 30 2022	n/a	n/a	₹4b
Jun 30 2022	n/a	n/a	₹3b
Mar 31 2022	₹35m	₹21m	₹3b
Dec 31 2021	n/a	n/a	₹3b
Sep 30 2021	n/a	n/a	₹3b
Jun 30 2021	n/a	n/a	₹3b
Mar 31 2021	₹21m	₹17m	₹3b

Compensation vs Market: Harsh's total compensation ($USD719.63K) is above average for companies of similar size in the Indian market ($USD433.15K).

Compensation vs Earnings: Harsh's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Harsh Shah (40 yo)

no data

Tenure

₹60,049,360

Compensation

Mr. Harsh Dinesh Shah serves as Chief Executive Officer and Whole-Time Director at IndiGrid Investment Managers Limited (IIML), Investment Manager for India Grid Trust. He was Chief Financial Officer of In...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Harsh Shah	CEO & Whole-Time Director of Indigrid Investment Managers Limited	no data	₹60.05m	0.0051% ₹ 5.3m
Urmil Shah	Company Secretary of IndiGrid Investment Managers Limited	1.8yrs	₹4.12m	no data
Navin Sharma	Chief Financial Officer	1.3yrs	no data	no data
Satish Talmale	Chief Operating Officer of IndiGrid Investment Managers Limited	no data	no data	no data
Meghana Pandit	Chief Investment Officer of IndiGrid Investment Managers Limited	3yrs	no data	no data
Kundan Kishore	Head of Human Resources of IndiGrid Investment Managers Limited	no data	no data	no data
Bigyan Parija	Chief Design Officer of IndiGrid Investment Managers Limited	no data	no data	no data

1.8yrs

Average Tenure

Experienced Management: 540565's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Harsh Shah	CEO & Whole-Time Director of Indigrid Investment Managers Limited	no data	₹60.05m	0.0051% ₹ 5.3m
Tarun Bhagwandass Kataria	Independent Chairman of the Board	1.3yrs	₹6.00m	no data
Ashok Sethi	Independent Director of IndiGrid Investment Managers Limited	3.6yrs	₹3.50m	no data
Jayashree Vaidhyanathan	Independent Director of IndiGrid Investment Managers Limited	2.5yrs	₹3.50m	no data
Hardik Shah	Non-Executive Director of IndiGrid Investment Managers Limited	2.5yrs	no data	no data
Ami Momaya	Non-Executive Director of IndiGrid Investment Managers Limited	2.3yrs	no data	no data

2.5yrs

Average Tenure

59yo

Average Age

Experienced Board: 540565's board of directors are not considered experienced ( 2.5 years average tenure), which suggests a new board.

India Grid Trust Management

Management criteria checks 0/4

Key information

Recent management updates

India Grid Trust, Annual General Meeting, Jul 28, 2023

India Grid Trust Announces the Resignation of Ms. Divya Bedi Verma as Chief Financial Officer of Indigrid Investment Managers Limited, Effective on or before April 10, 2023

Less than half of directors are independent

India Grid Trust Announces Retirement of Mr. Rahul Asthana, an Independent Director with Effect from December 25, 2022

Less than half of directors are independent

India Grid Trust, Annual General Meeting, Jul 26, 2022

Recent updates

Consensus revenue estimates increase by 18%, EPS downgraded

Dividend of ₹3.55 announced

India Grid Trust Approves Distribution of Third Quarter of 2024, Payable on or Before February 09, 2024

India Grid Trust to Report Q3, 2024 Results on Jan 25, 2024

India Grid Trust (BSE:540565) agreed to acquire Renew Solar Urja Private Limited from ReNew Energy Global Plc (NasdaqGS:RNW) for $90 million.

New minor risk - Shareholder dilution

India Grid Trust to Report First Half, 2024 Results on Dec 05, 2023

Second quarter 2024 earnings released: EPS: ₹0.51 (vs ₹1.75 in 2Q 2023)

India Grid Trust to Report Q2, 2024 Results on Nov 03, 2023

New major risk - Revenue and earnings growth

First quarter 2024 earnings released: EPS: ₹1.49 (vs ₹1.16 in 1Q 2023)

India Grid Trust Declares Dividend for the Fourth Quarter of Fiscal Year 2024, Payable on Before August 12, 2023

India Grid Trust to Report Q1, 2024 Results on Jul 28, 2023

New major risk - Dividend sustainability

India Grid Trust, Annual General Meeting, Jul 28, 2023

Full year 2023 earnings released: EPS: ₹6.51 (vs ₹5.03 in FY 2022)

India Grid Trust Approves Distribution for Fourth Quarter of Fiscal Year 2023, Payable on or Before May 27, 2023

India Grid Trust to Report Fiscal Year 2023 Results on May 12, 2023

Third quarter 2023 earnings released: EPS: ₹1.68 (vs ₹1.32 in 3Q 2022)

India Grid Trust Approves Distribution for Third Quarter of Fiscal Year 2023, Payable on or Before February 09, 2023

India Grid Trust (BSE:540565) entered into an agreement to acquire Khargone Transmission Limited from Sterlite Power Transmission Limited for an enterprise value of INR 14.98 billion

India Grid Trust to Report Q3, 2023 Results on Jan 30, 2023

India Grid Trust to Report Q3, 2023 Results on Jan 25, 2023

India Grid Trust Announces the Resignation of Ms. Divya Bedi Verma as Chief Financial Officer of Indigrid Investment Managers Limited, Effective on or before April 10, 2023

Less than half of directors are independent

India Grid Trust Announces Retirement of Mr. Rahul Asthana, an Independent Director with Effect from December 25, 2022

India Grid Trust (BSE:540565) signed framework agreement to acquire Rajgarh Transmission Limited from G R Infraprojects Limited (BSE:543317).

Second quarter 2023 earnings released: EPS: ₹1.75 (vs ₹1.06 in 2Q 2022)

India Grid Trust Approves Distribution for Second Quarter of Fiscal Year 2023, Payable on or Before November 25, 2022

India Grid Trust to Report Q2, 2023 Results on Nov 10, 2022

India Grid Trust (BSE:540565) signed share purchase agreement to acquire Raichur Sholapur Transmission Company Limited from Patel Engineering Limited (BSE:531120), BS Limited and Simplex Infrastructures Limited (BSE:523838) for enterprise value of INR 2500 million.

Less than half of directors are independent

India Grid Trust Approves Distribution for the First Quarter of 2023

India Grid Trust to Report Q1, 2023 Results on Jul 26, 2022

Full year 2022 earnings: EPS and revenues miss analyst expectations

India Grid Trust, Annual General Meeting, Jul 26, 2022

Full year 2022 earnings: EPS and revenues miss analyst expectations

IndiGrid Provides Dividend Guidance for the Fiscal Year 2023

India Grid Trust to Report Fiscal Year 2022 Results on May 20, 2022

Price target increased to ₹148

India Grid Trust Announces Board Changes

Third quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Second quarter 2022 earnings released: EPS ₹1.06 (vs ₹1.47 in 2Q 2021)

First quarter 2022 earnings released: EPS ₹1.27 (vs ₹1.47 in 1Q 2021)

India Grid Trust (BSE:540565) completed the acquisition of FRV Andhra Pradesh Solar Farm-I Private Limited and FRV India Solar Park II – Private Limited from Frv Solar Holdings Xi B.V.

Full year 2021 earnings released: EPS ₹5.72 (vs ₹9.13 in FY 2020)

India Grid Trust Declares Distribution for Fourth Quarter of Fiscal 2021, Payable on or Before June 11, 2021

New 90-day high: ₹137

Price target raised to ₹130

Third quarter 2021 earnings released: EPS ₹1.62

Revenue and earnings beat expectations

India Grid Trust to Report Q3, 2021 Results on Jan 22, 2021

New 90-day high: ₹128

New 90-day high: ₹124

India Grid Trust (BSE:540565) signed a securities purchase agreement to acquire FRV Andhra Pradesh Solar Farm-I Private Limited and FRV India Solar Park II – Private Limited from Frv Solar Holdings Xi B.V. for an entreprise value of INR 6.6 billion.

New 90-day high: ₹112

Non-Executive Independent Director recently bought ₹3.8m worth of stock

India Grid Trust (BSE:540565) signed a share purchase agreement to acquire 74% stake in Parbati Koldam Transmission Company Limited from Reliance Infrastructure Limited (BSE:500390) for an enterprise value of INR 9 billion.

New 90-day high: ₹110

Second quarter 2021 earnings released: EPS ₹1.46

Revenue and earnings beat expectations

India Grid Trust to Report Q2, 2021 Results on Nov 03, 2020

India Grid Trust (BSE:540565) completed the acquisition of 49.7% stake in Jhajjar KT Transco Private Limited from Kalpataru Power Transmission Limited (BSE:522287).

India Grid Trust (BSE:540565) completed the acquisition of 1.3% stake in Jhajjar KT Transco Private Limited from Klassik Vinyl Products LLP.

IndiGrid in Advance Talks to Acquire FRV Solar Assets

India Grid Trust Appoints Jyoti Kumar Agarwal as Chief Financial Officer

India Grid Trust to Report Q1, 2021 Results on Aug 06, 2020

India Grid Trust (BSE:540565) completed the acquisition of East-North Interconnection Company Limited from Sterlite Power Grid Ventures Limited.

CEO Compensation Analysis