About Punjab State Power Corporation Limited
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Punjab State Power Corporation Limited is a public limited state government company based in Patiala, Punjab, India. It operates in the thermal power generation and plants segment of the energy and power sector. It was incorporated on 16 April 2010 and has been in existence for over 16 years.
The company is registered with the Registrar of Companies (ROC), Chandigarh, under CIN U40109PB2010SGC033813. Its GSTIN is 03AAFCP5120Q1ZC (Punjab). The company holds 18 GST registrations, of which 15 are active.
The company has an authorised share capital of ₹30,000 Cr and a paid-up capital of ₹21,710 Cr. It is led by directors including Ajoy Kumar Sinha (Managing Director) and Baldev Singh (Managing Director).
Its last annual general meeting (AGM) was held on 21 January 2025, and its latest financial statements are for the year ended 31 March 2024. The registered office is at Pseb Head Office The Mall, Patiala, Punjab, India – 147001.
As per the financials filed for FY 2024, the company reported a revenue of ₹43,965 Cr, a growth of 12% compared to the previous year. For the same year it recorded a net profit of ₹782.89 Cr (net margin 1.8%) and EBITDA of ₹3,856.32 Cr (EBITDA margin 8.8%). Revenue has grown at a compounded annual rate (CAGR) of 9% over three years and 6% over five years.
The company has about 130 employees on its provident fund (EPFO) records. Its group structure includes 2 subsidiaries.
The company is associated with 1 brand: PSPCL. As per MCA filings, the company has open charges of ₹11,985 Cr and satisfied charges of ₹9,488.9 Cr on record. Court records list 35,854 cases involving the company, including 8,685 filed by the company and 27,337 filed against it; 6,862 cases are pending. The company has 2 deals on record (2 funding rounds), with disclosed funding of ₹21,710 Cr; the latest was in March 2020. Its 7 peer companies in the Power industry (Thermal Power Plants), with the same principal business activity (electric power generation, transmission and distribution) are compared by revenue, 2 larger and 5 smaller; the largest is The Tata Power Company Limited with revenue of ₹66,809 Cr. The company has 4 MSME Form 1 returns on record for the period ending Mar 2024, listing 966 overdue payments to 90 micro and small suppliers.
The current compliance status is marked as compliant by the Registrar of Companies. For more details, the company can be reached via its website pspcl.in.
Company details
Contact details
Punjab State Power Corporation Limited's registered office is in Patiala, Punjab. Its website is pspcl.in. Its e-mail address and telephone number are in the company report.
- Email
- Telephone
- Website
- Social Media
- Apps
- Registered AddressPseb Head Office The Mall, Patiala, Punjab, India – 147001
- IndustryEnergy and Power, Thermal Power Generation & Plants
To see the full contact details of Punjab State Power Corporation Limited, buy the company report.
- Company details, directors and signatories
- Historical financials and ratios
- Shareholding pattern and group structure
- Charges with holder and property details
- Legal cases, compliance and MCA filings
Business activity
The main business activity of Punjab State Power Corporation is electricity, gas, steam and air condition supply. In detail, this covers electric power generation, transmission and distribution.
| Main activity group code | Main activity | Business activity code | Business activity | Share of turnover |
|---|---|---|---|---|
| D | Electricity, gas, steam and air condition supply | D1 | Electric power generation, transmission and distribution |
To see the full business activity and turnover split of Punjab State Power Corporation Limited, buy the company report.
Financials of Punjab State Power Corporation Limited
FY 2024 filings availablePunjab State Power Corporation Limited reported revenue of ₹43,965 Cr (up 12% YoY) for FY 2024.
Compounded Annual Growth Rate (CAGR)
Revenue has grown at a compounded annual rate (CAGR) of 6% over five years, including 12% growth in the latest year. EBITDA rose 292% in the latest year. Three- and five-year figures are compounded annual growth rates (CAGR): the steady yearly rate that links the first and the last year. All are worked out from the filed statements.
Financial Statement Summary
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
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| EBITDA | ₹3,856.32 Cr | ||||
| Profit Before Tax | |||||
| Tax Expense | |||||
| Net Profit (PAT) | ₹782.89 Cr | ||||
| Balance Sheet | |||||
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Financial Ratios
| Metrics | FY 2023-24 | FY 2022-23 | FY 2021-22 | FY 2020-21 | FY 2019-20 |
|---|---|---|---|---|---|
| Profitability | |||||
| EBITDA Margin | 8.8% | ||||
| Net Profit Margin | 1.8% | ||||
| Return on Equity (ROE) | |||||
| Return on Capital Employed (ROCE) | |||||
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| Receivable Days | |||||
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To see the full financial statements and ratios of Punjab State Power Corporation Limited, buy the company report.
Board of directors and KMP of Punjab State Power Corporation Limited
Punjab State Power Corporation Limited currently reports 9 directors and 2 key managerial personnel. 49 former directors have served the organization.
| Name | Designation | Appointment Date | Tenure | Status |
|---|---|---|---|---|
| Alok Shekhar | Nominee Director | 17 Jul 2025 | 1 Years 3 Months | Current |
| Jaspal Singh Dhanjal | Company Secretary | 27 Apr 2010 | 16 Years 6 Months | Current |
| Sudhir Kumar Also directs: Gidderbaha Power Limited, Punjab Thermal Generation Limited | Cfo | 11 Dec 2023 | 2 Years 10 Months | Current |
| Jasbir Singh | Whole-Time Director | 01 Feb 2024 | 2 Years 8 Months | Current |
| Surinder Kumar Beri Also directs: GVK Power (Goindwal Sahib) Limited, Gidderbaha Power Limited, Punjab Thermal Generation Limited and 1 more | Whole-Time Director | 13 Sep 2022 | 4 Years 1 Months | Current |
| Bhawna Garg | Nominee Director | 19 May 2025 | 1 Years 5 Months | Current |
Peer comparison
Punjab State Power Corporation Limited is compared with the 7 companies closest to it by revenue in the Power industry (Thermal Power Plants), with the same principal business activity (electric power generation, transmission and distribution), from the latest filed financials of each company.
| Company | Revenue | Net profit | Margin | Growth (1 yr) | Employees | Location |
|---|---|---|---|---|---|---|
| The Tata Power Company Limited | ₹66,809 Cr (FY 2025) | 4.0% | Mumbai, Maharashtra, India | |||
| Adani Power Limited | ₹58,906 Cr (FY 2025) | -2.0% | Ahmedabad, Gujarat, India | |||
| Punjab State Power Corporation Limitedthis company | ₹43,965 Cr (FY 2024) | ₹782.89 Cr | 1.8% | 12.0% | 130 | Patiala, Punjab, India |
| Maharashtra State Power Generation Company Limited | ₹38,334 Cr (FY 2025) | 16.0% | Mumbai, Maharashtra, India | |||
| Torrent Power Limited | ₹29,652 Cr (FY 2025) | 8.0% | Ahmedabad, Gujarat, India | |||
| Rajasthan Rajya Vidyut Utpadan Nigam Limited | ₹21,344 Cr (FY 2025) | 6.0% | Jaipur, Rajasthan, India | |||
| Bihar State Power (Holding) Company Limited | ₹19,718 Cr (FY 2021) | 8.0% | Patna, Bihar, India | |||
| Andhra Pradesh Power Generation Corporation Limited | ₹19,327 Cr (FY 2024) | 23.0% | Vijayawada, Andhra Pradesh, India |
To see the full peer comparison of Punjab State Power Corporation Limited, buy the company report.
Auditor
Punjab State Power Corporation Limited is audited by N KUMAR CHHABRA & CO for the financial year 2023.
| Auditor firm | Financial year | Firm registration number |
|---|---|---|
| N KUMAR CHHABRA & CO | FY 2023 | 000837N |
Shareholding
The shareholding of Punjab State Power Corporation Limited is on record for 5 financial years, the latest being FY 2023, split between promoters, domestic institutions, foreign institutions, public shareholders and others.
| Shareholder category | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 |
|---|---|---|---|---|---|
| Promoters | |||||
| Domestic institutional investors (DII) | |||||
| Foreign institutional investors (FII) | |||||
| Public | |||||
| Others |
To see the full shareholding pattern of Punjab State Power Corporation Limited, buy the company report.
Charges & borrowings
| Date | Charge ID | Lender | Amount | Status | Modified or satisfied on |
|---|---|---|---|---|---|
| 01 Aug 2024 | 100964725 | Others | ₹1,440 Cr | Open | |
| 04 Sep 2023 | 100773010 | Others | ₹495 Cr | Open | |
| 14 Feb 2023 | 100683097 | State Bank of India | ₹500 Cr | Open | |
| 02 Feb 2023 | 100679895 | Others | ₹500 Cr | Open | |
| 31 Jan 2023 | 100678285 | Others | ₹1,000 Cr | Open |
To see the full charge records of Punjab State Power Corporation Limited, buy the company report.
Total charge records: 83 View all charges
Deals & funding
Punjab State Power Corporation Limited has 2 deals on record (2 funding rounds), with disclosed funding of ₹21,710 Cr; the latest was in March 2020.
Deals on record (2 of 2)
| When | Deal | Amount | Parties |
|---|---|---|---|
| Mar 2020 | Funding round | ₹15,628 Cr | Investors: an individual |
| Feb 2013 | Funding round | ₹6,081.42 Cr | Investors: an individual |
Deal records are compiled from filings and public sources; amounts are shown only where the source reported them.
Legal cases
Punjab State Power Corporation Limited has 35,854 court cases on record: 8,685 filed by Punjab State Power Corporation, 27,337 filed against it, 1 where it is another party. 6,862 cases are pending and 28,992 are disposed.
Cases by court
| Court | Cases | Against the company | Pending |
|---|---|---|---|
| District courts | 26,368 | 19,396 | 5,088 |
| High courts | 8,989 | 7,683 | 1,650 |
| Supreme Court | 468 | 239 | 121 |
| NCLAT | 16 | 9 | 3 |
| NCLT | 13 | 10 | 0 |
Cases on record (5 of 35,854)
| Court | Type of case | Party | Status |
|---|---|---|---|
| Supreme Court | Court case (4304-Service Laws : Retiral benefits, pension) | Filed by the company against Jagdish | Pending |
| Supreme Court | Court case (4304-Service Laws : Retiral benefits, pension) | Filed by the company against individuals | Pending |
| Supreme Court | Court case (1901-Energy Laws - Electricity, Petroleum, Oil and Natural Gas : Energy laws - Electricity, Petroleum, Oil and Natural Gas) | Filed by the company against M/S Malwa Cotton Spinning Mills Ltd and 2 others | Disposed |
| Supreme Court | Court case (4303-Service Laws : Regularization, contract employees, ad-hoc employees, daily wage employees) | Filed against the company by individuals | Pending |
| Supreme Court | Court case (4303-Service Laws : Regularization, contract employees, ad-hoc employees, daily wage employees) | Filed against the company by individuals | Pending |
To see the full case history of Punjab State Power Corporation Limited, buy the company report.
Case records are compiled from court listings and may lag the court's own records. A case filed against a company is not a finding against it.
Credit ratings & regulatory alerts
Punjab State Power Corporation Limited was last rated by Acuite on 30 Apr 2026.
| Rating agency | Rated on | Rating |
|---|---|---|
| Acuite | 30 Apr 2026 |
To see the full credit ratings and regulatory alerts of Punjab State Power Corporation Limited, buy the company report.
MSME payment delays
Punjab State Power Corporation Limited has 4 MSME Form 1 returns on record for the period ending Mar 2024, listing 966 overdue payments to 90 micro and small suppliers. Companies must report dues to micro and small suppliers that stay unpaid for more than 45 days in a half-yearly MSME Form 1 return.
Suppliers with reported dues (5 of 90)
| Supplier | Amount due | Due since | Reported on |
|---|---|---|---|
| an individual supplier | |||
| J.R. Transformers | |||
| Aggarwal Steel Industies | |||
| Prem Cables Pvt Ltd | |||
| an individual supplier |
To see the full MSME payment records of Punjab State Power Corporation Limited, buy the company report.
Individuals and sole proprietors among the suppliers are not named.
Group structure & subsidiaries
Punjab State Power Corporation has 2 subsidiary companies and 1 associated company. This group structure data is as of FY 2023. The table lists each entity with its relationship and holding.
| Company Name | CIN | Shares held |
|---|---|---|
| Gidderbaha Power Limited | U40102PB2008SGC032201 | |
| Punjab Thermal Generation Limited | U40104PB2013SGC037756 |
To see the full group structure of Punjab State Power Corporation Limited, buy the company report.
Employees & EPFO
Punjab State Power Corporation Limited has a workforce of 130 employees on its EPFO records as of Mar 29, 2024, across 29 active EPFO establishments.
GST
Punjab State Power Corporation has 18 GST registrations: 15 active and 3 cancelled or inactive. The first 4 active GSTINs are listed below.
| GSTIN | State | Status | Registered on |
|---|---|---|---|
| 03AAFCP5120Q1ZC | Punjab | Active | 01 Jul 2017 |
| 03AAFCP5120Q1DL | Punjab | Active | 11 Oct 2018 |
| 03AAFCP5120Q2DK | Punjab | Active | 23 Oct 2018 |
| 03AAFCP5120Q3DJ | Punjab | Active | 02 Nov 2018 |
To see the full GST registrations and return filing status of Punjab State Power Corporation Limited, buy the company report.
Recent activity
Punjab State Power Corporation Limited has 57 board changes on record since 2010: 11 appointments and 46 cessations. The latest: Harjit Singh ceased to be Whole-Time Director on 04 Nov 2025.
178 earlier events are in the company report.
News
Frequently asked questions
Punjab State Power Corporation is an active public limited state government company based in Patiala, Punjab, India. The company works in thermal power generation and plants, within the energy and power industry. It was incorporated on 16 April 2010 (16+ years old) and is registered under CIN U40109PB2010SGC033813.
Punjab State Power Corporation has 11 current directors and KMP:
- Ajoy Kumar Sinha - Managing Director
- Baldev Singh - Managing Director
- Jasbir Singh - Whole-Time Director
- Surinder Kumar Beri - Whole-Time Director
- Parmjeet Singh - Whole-Time Director
- Ravinder Singh Saini - Whole-Time Director
- Inder Pal Singh - Whole-Time Director
- Alok Shekhar - Nominee Director
- Bhawna Garg - Nominee Director
- Jaspal Singh Dhanjal - Company Secretary
- Sudhir Kumar - Cfo
The latest financial statements of Punjab State Power Corporation on record with the MCA are for the year ended 31 March 2024. Its last annual general meeting was held on 21 January 2025. Year-wise statements from 2015 are in the company report.
The GSTIN of Punjab State Power Corporation is 03AAFCP5120Q1ZC, registered in Punjab. The company has 18 GST registrations in all, of which 15 are active and 3 are cancelled or inactive. Other active GSTINs include 03AAFCP5120Q1DL (Punjab), 03AAFCP5120Q2DK (Punjab), 03AAFCP5120Q3DJ (Punjab).
The CIN (Corporate Identification Number) of Punjab State Power Corporation is U40109PB2010SGC033813. It is issued by the Ministry of Corporate Affairs under the Companies Act, 2013, and uniquely identifies the company in India.
Punjab State Power Corporation has 35,854 court cases on record: 8,685 filed by the company and 27,337 filed against it. 6,862 are pending. Most are in the district courts.
Punjab State Power Corporation was incorporated on 16 April 2010, making it 16+ years old. It is registered with the Registrar of Companies, Chandigarh.
Punjab State Power Corporation has 2 deals on record (2 funding rounds), with disclosed funding of ₹21,710 Cr; the latest was in March 2020.
The peers of Punjab State Power Corporation by revenue are The Tata Power Company Limited, Adani Power Limited, Maharashtra State Power Generation Company Limited, Torrent Power Limited, Rajasthan Rajya Vidyut Utpadan Nigam Limited and 2 more, all in the Power industry (Thermal Power Plants), with the same principal business activity (electric power generation, transmission and distribution).
Harjit Singh ceased to be Whole-Time Director on 04 Nov 2025. Hira Lal Goyal ceased to be Whole-Time Director on 26 Aug 2025. Alok Shekhar was appointed as Nominee Director on 17 Jul 2025. Punjab State Power Corporation has 57 board changes on record in total.
Punjab State Power Corporation has 4 MSME Form 1 returns on record for the period ending Mar 2024, listing 966 overdue payments to 90 micro and small suppliers. The latest return was filed on 08 May 2024.
Punjab State Power Corporation can be reached through the website pspcl.in. Its registered office is in Patiala, Punjab, India.
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