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Earnings Call

Power Grid Corporation of India Earnings Call: Key Takeaways

POWERGRID delivered strong FY26 performance, exceeding its own Capex and Capitalization guidance. The company is pivoting toward large-scale HVDC projects and international expansion (Kenya/Uganda) to sustain leadership in India's power backbone.

Why this was an Alfa AlertCapex beat: Guided ₹35,000 Cr, delivered ₹39,967 Cr (14.2% beat). Capitalization beat: Guided ₹25,000 Cr, delivered ₹28,206 Cr (12.8% beat).
Highlights
Revenue growthFlat YoY on consolidated basis; Standalone revenue up 1%.
MarginsEBITDA margin remains robust; FY26 Consolidated EBITDA at ₹39,677 Cr.
Order bookTotal works in hand: ₹1,70,518 Cr; Bidding pipeline: >₹1.1 lakh crore.
Demand visibilityStrong; ~₹1.70 lakh crore works in hand provides multi-year visibility.
Management confidenceHigh; explicitly stated 'We Committed. We Delivered.' regarding guidance beats.

Growth

FY26 Consolidated Revenue reached ₹47,684 Cr; Profit After Tax grew 3% YoY to ₹15,928 Cr.

Outlook

FY27 Capex guidance of ₹37,000 Cr; Capitalization target of ₹30,000 Cr. Order pipeline exceeds ₹1.1 lakh crore.

Risks

Regulatory approvals for new storage systems; execution challenges in difficult terrains for high-voltage lines.

Source

Earnings Call filed with BSE, NSE: POWERGRID. Summary written with AI assistance from the document.

Read the document ↗

Power Grid Corporation of India Ltd: key numbers

Share price
₹259.90
Market cap
₹2,41,723 Cr
Revenue (annual)
₹46,733 Cr
Net profit (annual)
₹15,928 Cr
P/E (TTM)
14.9×Sector 21.7×
Promoter holding
51.34%+0.00% QoQ
FII holding
24.03%Current quarter

Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.

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