Power Grid Corporation of India

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• DebtHighest safetyRated AAA by 3 agencies.
• ResultsMixedIn the Jun 2026 quarter, sales rose 2.7% and profit fell 0.9% from a year earlier.
• DilutionNo new sharesNo new shares issued in the last year, so existing shareholders' slices were not cut.
• PromotersSteadyThe promoters (founders or parent) own 51% of the company, about the same as in Jun 2025.
• ValuationNormal for this stockThe share trades at 14.7 times its yearly earnings (P/E), cheaper than 55% of the time in the last 5 years. Its usual P/E is about 16.

Power Grid Corporation of India against the typical company in its industry. The rank is out of the companies that report each figure; green means the better quarter of the pack, red the worse quarter.

• Valuation (P/E)14.7 against a typical 21.5: cheaper than most peers (1st = cheapest).2nd of 4
• Sales growth+2.7% against a typical +16% from a year earlier.3rd of 4
• Profit growth−0.9% against a typical +113.5% from a year earlier.3rd of 4
• Share price, 3 months−11.1% against a typical −3.9%.4th of 4
• Size₹ 2,29,910.9 Cr. market value against a typical ₹ 15,701.1 Cr. (1st = largest).1st of 3

Exchange filings and their impact on the company.

• 23 Oct 2026General UpdatesLow impactPositivePrice −0.2% on 26 Oct
  PowerGrid commissioned its Koppal-Gadag RE transmission scheme, adding a small stable regulated revenue stream.

  PowerGrid has fully commissioned the Transmission Scheme for integration of Renewable Energy Zone Phase-II in Koppal-II (Phase-A & B) and Gadag-II (Phase-A) in Karnataka with effect from 23 October 2026, after receiving commercial operation approval on the same day. The project was built through POWERGRID Koppal Gadag Transmission Ltd, now amalgamated with POWERGRID Khavda II-C Transmission Ltd from 1 March 2026. Commissioning allows PowerGrid to start earning regulated transmission charges, adding a small long-term revenue stream relative to its Rs 46733 crore FY26 revenue base.

  Full analysisFiling
• 16 Oct 2026General UpdatesLow impactPositivePrice −0% on 19 Oct
  PowerGrid won 765kV Pune West transmission project with Rs 199.55 cr annual tariff, its 10th TBCB win this fiscal.

  PowerGrid has been declared successful bidder for the Intra-State 765kV GIS Pune West transmission system in Maharashtra on BOOT basis, with LoI received on 16 Oct 2026. The project involves a new 765/400kV GIS substation plus 765kV and 400kV lines at quoted annual transmission charges of Rs 199.55 crore. With this, PowerGrid has secured 10 TBCB projects in FY27 so far with cumulative annual charges of Rs 7,863.63 crore, strengthening its long-term regulated pipeline.

  Full analysisFiling
• 12 Oct 2026AcquisitionLow impactPositivePrice +0.6% on 13 Oct
  PowerGrid bought the 6500MW Gujarat REZ transmission SPV for Rs 19.22 cr, adding future tariff income but no revenue for 12 months.

  PowerGrid on 12 Oct 2026 acquired 100% of Jam Khambhaliya REZ Transmission Limited from PFC Consulting for about Rs 19.22 crore after winning the bid under tariff-based competitive bidding. The SPV will build the inter-state system for 5500MW Jam Khambhaliya Phase-II and 1000MW Jamnagar Phase-I in Gujarat, including a new Kalyanpur GIS substation and 765kV lines, on a build-own-operate-transfer basis. The company is yet to start operations, so this adds future regulated tariff income but no sales or profit in the next year.

  Full analysisFiling
• 12 Oct 2026AcquisitionLow impactPositivePrice +0.6% on 13 Oct
  PowerGrid won the Lakadia-C RE evacuation transmission project via a Rs 19.94 cr SPV buy, with no revenue for 12 months.

  PowerGrid on 12 Oct 2026 acquired 100% of Lakadia C Power Transmission Limited for about Rs 19.94 crore after emerging as successful bidder under tariff-based competitive bidding. The SPV will build the inter-state system for evacuation from Lakadia, Jam Khambhaliya and Jamnagar RE zones (Part-C), including a new 765/400/220 kV Alephata substation and 765 kV and 400 kV lines in Maharashtra. The SPV is newly incorporated and pre-revenue, so it adds future regulated tariff income but no sales or profit in the next 12 months while it is built.

  Full analysisFiling
• 12 Oct 2026AcquisitionLow impactPositivePrice +0.6% on 13 Oct
  Won Lakadia-II 7500MW RE transmission project, adding work but no revenue for 12 months.

  Power Grid acquired Lakadia II Power Transmission Limited on 12 Oct 2026 after winning it under tariff-based competitive bidding from REC Power Development. The project will build a new 765/400kV Lakadia-II substation, 765kV lines in Gujarat and a synchronous condenser to evacuate 7500MW from the Lakadia renewable zone on a build-own-operate-transfer basis. It adds to Power Grid's regulated project pipeline but will need construction spend over the next 2-3 years before earning tariff revenue.

  Full analysisFiling
• 11 Oct 2026General UpdatesLow impactPositivePrice −0.1% on 12 Oct
  PowerGrid commissioned its Rajasthan REZ Phase-III Part-C1 transmission system, starting regulated tariff income.

  PowerGrid has fully commissioned the Transmission system for evacuation of power from renewable energy zone in Rajasthan (20 GW) under Phase-III Part-C1 with effect from 22 September 2026. Commercial operation (DOCO) was notified on 7 October 2026 and received on 11 October 2026. The project, built under POWERGRID Ramgarh II Transmission Ltd (now amalgamated with POWERGRID Vataman Transmission Ltd), will now earn regulated transmission charges, adding a small incremental revenue stream.

  Full analysisFiling

Results dates and other board meetings. Full calendar

Compounded yearly rates over each period.

Listed companies in the same business.

Burra Vamsi Rama Mohan

Executive Chairman, Managing Director, Director (Projects)

Venkata Subrahamanayam Vallurie

Chief Financial Officer

Yatindra Dwivedi

Finance Director, Director (Personnel), Whole Time Director

Ganesan Ravisankar

Director (Finance), Whole Time Director

Doman Yadav

Chief Information Security Officer, Executive Director

Anjana Luthra

Compliance Officer, Company Secretary

Naveen Srivastava

Director (Operations), Whole Time Director

Vineeta Agarwal

Executive Director