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Earnings Call

Power Grid Corporation of India Earnings Call: Key Takeaways

Power Grid (FY26) reported record gross fixed assets exceeding ₹3 lakh crore. Management highlighted a major shift toward TBCB projects (81% of work-in-hand) and successful commissioning of the world's first 765 kV digital substation.

Why this was an Alfa AlertCapEx beat: Initially guided ₹28,000cr, then ₹35,000cr, achieved ~₹40,000cr (14% beat over upper revised guidance; 42% over initial).
Highlights
Revenue growthTotal income ₹47,684cr vs ₹47,459cr in FY25.
MarginsEBITDA dip in Q4 due to assets completing 12-year regulated tariff cycle.
Order bookWorks in hand: ₹1.7 lakh crore; Bidding pipeline: ₹1.1 lakh crore.
Demand visibilityStrong; 900+ GW national target by 2036 driving transmission needs.
Management confidenceHigh; citing 'massive growth phase' and exceeded all primary guidance metrics.

Growth

FY26 Consolidated PAT up 3% to ₹15,928cr; Standalone PAT up 4% to ₹15,921cr. Realized ₹40,684cr collections.

Outlook

FY27 CapEx guidance raised to ₹37,000cr; Capitalization target ₹30,000cr. Long-term opportunity pipeline estimated at ₹15 lakh crore.

Risks

Right-of-Way (ROW) remains a perennial project challenge; equipment supply lead times for transformers are currently stretched.

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
₹269.50
Market cap
₹2,50,651 Cr
Revenue (annual)
₹46,733 Cr
Net profit (annual)
₹15,928 Cr
P/E (TTM)
15.8×Sector 25.1×
Promoter holding
51.34%+0.00% QoQ
FII holding
24.33%Current quarter

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

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16:38 IST BSE
New Order Win

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Value
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From
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19:08 IST BSE
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Value
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15:38 IST BSE
Debt & Borrowing

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Value
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11:49 IST BSE
Debt & Borrowing

Power Grid Corporation of India Debt & Borrowing: ₹5,000 Cr

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Value
₹5,000 Cr
Execution
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