Power Grid Corporation of India Ltd.
POWERGRIDUtilities filings
We hold this company’s filings and have not read the financial statements out of them yet. Every filing on record is listed under filings, and each one opens.
Earnings calls
16 transcript(s)/analyst meet(s) served; 0 document(s) on file are not transcripts (cover letters, duplicates, unresolved) and are excluded. Speaker attribution is shown only where the segmenter attributes ≥ 95% of sentences to management or analysts (8 of 16 documents here); elsewhere sentences render unattributed.
| Kind | Date | Period | Served | Attribution rate |
|---|---|---|---|---|
| ANALYST_MEET | 20230203 | 2022-12-31 | yes | |
| TRANSCRIPT | 20230530 | 2023-03-31 | yes | |
| TRANSCRIPT | 20230808 | 2023-06-30 | yes | |
| ANALYST_MEET | 20231116 | 2023-09-30 | yes | |
| TRANSCRIPT | 20240216 | 2023-12-31 | yes | |
| TRANSCRIPT | 20240531 | 2024-03-31 | yes | |
| ANALYST_MEET | 20240802 | 2024-06-30 | yes | |
| TRANSCRIPT | 20241114 | 2024-09-30 | yes | |
| TRANSCRIPT | 20250212 | 2024-12-31 | yes | |
| TRANSCRIPT | 20250528 | 2025-03-31 | yes | |
| TRANSCRIPT | 20250808 | 2025-06-30 | yes | |
| TRANSCRIPT | 20251112 | 2025-09-30 | yes | |
| TRANSCRIPT | 20260209 | 2025-12-31 | yes | |
| TRANSCRIPT | 20260401 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260525 | 2026-03-31 | yes | |
| TRANSCRIPT | 20260814 | 2026-06-30 | yes |
POWERGRID
files the standard Schedule III statements. Every figure below opens to the filing it was read from; where a figure is not shown, the reason is printed in its place.
Identity
| Statement division | general |
| Scope served | consolidated |
| Panels on this page | 4 |
Market
The closes are adjusted for every split and bonus on record inside the period this series covers, and each adjustment is checked against the price move on its ex-date.
| Last close | 266.40 |
| 52-week range | 254.05 – 320.9 |
| Return 1M | -1.7% |
| Return 3M | -6.16% |
| Return 1Y | -9.17% |
| Return 3Y | 33.94% |
| Return 5Y | 101.65% |
| Market capitalisation | not shown — we could not confirm it |
| Shares outstanding | not shown — we could not confirm it |
| P/E | not shown — we could not confirm it |
| P/B | not shown — we could not confirm it |
| EV/EBITDA | not shown — we could not confirm it |
Latest quarter filed — period ending 2026-06-30
In INR crore except per-share figures. `period_id` is the period the filing names for the number; the date beside each cell is when it was filed.
| Revenue from operations | 11,497.00 |
| Other income | 200.00 |
| Total income | 11,697.00 |
| Cost of materials consumed | 0.00 |
| Purchases of stock-in-trade | 0.00 |
| Changes in inventories | 0.00 |
| Employee benefit expense | 674.00 |
| Finance costs | 2,023.00 |
Ownership — 2026-06-30, and the change from 2026-03-31
| Holder | Per cent | Change |
|---|---|---|
| promoter and promoter group | 0.51 | 0.00 |
| institutions foreign | 0.24 | -0.01 |
| institutions domestic | 0.21 | 0.01 |
| mutual funds | 0.14 | 0.00 |
| public | 0.49 | 0.00 |
Documents on file
| Class | Most recent | On file |
|---|---|---|
| ANALYST_MEET | 2024-06-30 | 3 |
| TRANSCRIPT | 2026-06-30 | 13 |
Financial statements
Filed results, consolidated, in INR crore except per-share figures. Every figure opens to the filing it was read from. Quarterly and annual columns are the periods the filing itself names, never a document date.
Quarterly results, as filed
| Line | 2022-09-30 | 2022-12-31 | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue from operations | 11,151.00 | 11,262.00 | 12,264.00 | 11,048.00 | 11,267.00 | 11,550.00 | 11,978.00 | 11,006.00 | 11,278.00 | 11,233.00 | 12,275.00 | 11,196.00 | 11,476.00 | 12,395.00 | 11,666.00 | 11,497.00 |
| Other income | 199.00 | 268.00 | 294.00 | 209.00 | 263.00 | 270.00 | 327.00 | 273.00 | 568.00 | 510.00 | 315.00 | 248.00 | 194.00 | 204.00 | 305.00 | 200.00 |
| Total income | 11,349.00 | 11,530.00 | 12,557.00 | 11,258.00 | 11,530.00 | 11,820.00 | 12,305.00 | 11,280.00 | 11,846.00 | 11,743.00 | 12,591.00 | 11,444.00 | 11,670.00 | 12,599.00 | 11,971.00 | 11,697.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 658.00 | 613.00 | 675.00 | 601.00 | 582.00 | 608.00 | 644.00 | 617.00 | 621.00 | 597.00 | 769.00 | 641.00 | 668.00 | 659.00 | 701.00 | 674.00 |
| Finance costs | 2,187.00 | 3,012.00 | 2,475.00 | 2,057.00 | 2,341.00 | 2,446.00 | 1,928.00 | 2,039.00 | 2,441.00 | 1,917.00 | 2,303.00 | 1,934.00 | 2,148.00 | 2,190.00 | 2,175.00 | 2,023.00 |
| Depreciation and amortisation | 3,317.00 | 3,407.00 | 3,314.00 | 3,266.00 | 3,277.00 | 3,293.00 | 3,259.00 | 3,200.00 | 3,292.00 | 3,216.00 | 3,196.00 | 3,130.00 | 3,223.00 | 3,381.00 | 3,295.00 | 3,128.00 |
| Other expenses | 1,067.00 | 756.00 | 679.00 | 765.00 | 777.00 | 729.00 | 1,235.00 | 786.00 | 956.00 | 1,098.00 | 1,282.00 | 1,409.00 | 1,694.00 | 1,083.00 | 1,899.00 | 1,287.00 |
| Total expenses | 7,229.00 | 7,787.00 | 7,143.00 | 6,689.00 | 6,977.00 | 7,076.00 | 7,066.00 | 6,643.00 | 7,310.00 | 6,829.00 | 7,550.00 | 7,114.00 | 7,733.00 | 7,314.00 | 8,069.00 | 7,112.00 |
| Profit before exceptional items and tax | 4,120.00 | 3,743.00 | 5,414.00 | 4,569.00 | 4,553.00 | 4,743.00 | 5,239.00 | 4,637.00 | 4,536.00 | 4,914.00 | 5,041.00 | 4,330.00 | 3,937.00 | 5,285.00 | 3,901.00 | 4,585.00 |
| Exceptional items | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 4,120.00 | 3,743.00 | 5,414.00 | 4,569.00 | 4,553.00 | 4,743.00 | 5,239.00 | 4,637.00 | 4,536.00 | 4,914.00 | 5,041.00 | 4,330.00 | 3,937.00 | 5,285.00 | 3,901.00 | 4,585.00 |
| Current tax | 714.00 | 588.00 | 910.00 | 782.00 | 790.00 | 827.00 | 940.00 | 781.00 | 761.00 | 882.00 | 939.00 | 775.00 | 701.00 | 935.00 | 789.00 | 817.00 |
| Deferred tax | -304.00 | -258.00 | 105.00 | -161.00 | -216.00 | -40.00 | 19.00 | 99.00 | 123.00 | 209.00 | -20.00 | 93.00 | 128.00 | 378.00 | -5,180.00 | 66.00 |
| Tax expense | 410.00 | 330.00 | 1,015.00 | 621.00 | 574.00 | 788.00 | 958.00 | 879.00 | 884.00 | 1,090.00 | 919.00 | 868.00 | 829.00 | 1,312.00 | -4,391.00 | 883.00 |
| Profit for the period | 3,650.00 | 3,645.00 | 4,320.00 | 3,597.00 | 3,781.00 | 4,028.00 | 4,166.00 | 3,724.00 | 3,793.00 | 3,862.00 | 4,143.00 | 3,631.00 | 3,566.00 | 4,185.00 | 4,546.00 | 3,598.00 |
| Profit attributable to owners | 3,650.00 | 3,645.00 | 4,320.00 | 3,597.00 | 3,781.00 | 4,028.00 | 4,166.00 | 3,724.00 | 3,793.00 | 3,862.00 | 4,143.00 | 3,631.00 | 3,566.00 | 4,185.00 | 4,546.00 | 3,598.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | 144.00 | -149.00 | -35.00 | -68.00 | -139.00 | 1.00 | -29.00 | 44.00 | -87.00 | -116.00 | -77.00 | 191.00 | 46.00 | -22.00 | 51.00 | -71.00 |
| Total comprehensive income | 3,794.00 | 3,496.00 | 4,286.00 | 3,530.00 | 3,642.00 | 4,030.00 | 4,137.00 | 3,768.00 | 3,706.00 | 3,745.00 | 4,065.00 | 3,821.00 | 3,612.00 | 4,163.00 | 4,598.00 | 3,527.00 |
| Earnings per share, basic | 5.23 | 5.23 | 6.19 | 5.16 | 4.06 | 4.33 | 4.48 | 4.00 | 4.08 | 4.15 | 4.46 | 3.90 | 3.84 | 4.50 | 4.89 | 3.87 |
| Earnings per share, diluted | 5.23 | 5.23 | 6.19 | 5.16 | 4.06 | 4.33 | 4.48 | 4.00 | 4.08 | 4.15 | 4.46 | 3.90 | 3.84 | 4.50 | 4.89 | 3.87 |
Annual results, as filed
| Line | 2020-03-31 | 2021-03-31 | 2022-03-31 | 2023-03-31 | 2024-03-31 | 2025-03-31 | 2026-03-31 |
|---|---|---|---|---|---|---|---|
| Revenue from operations | 37,744.00 | 39,640.00 | 41,616.00 | 45,581.00 | 45,843.00 | 45,792.00 | 46,733.00 |
| Other income | 927.00 | 1,184.00 | 1,082.00 | 1,024.00 | 1,070.00 | 1,667.00 | 952.00 |
| Total income | 38,671.00 | 40,824.00 | 42,698.00 | 46,606.00 | 46,913.00 | 47,459.00 | 47,684.00 |
| Cost of materials consumed | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Purchases of stock-in-trade | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Changes in inventories | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Employee benefit expense | 1,960.00 | 2,115.00 | 2,244.00 | 2,509.00 | 2,434.00 | 2,604.00 | 2,669.00 |
| Finance costs | 9,509.00 | 8,135.00 | 8,036.00 | 9,634.00 | 8,773.00 | 8,700.00 | 8,448.00 |
| Depreciation and amortisation | 11,607.00 | 12,039.00 | 12,872.00 | 13,333.00 | 13,095.00 | 12,904.00 | 13,030.00 |
| Other expenses | 2,844.00 | 2,532.00 | 2,806.00 | 3,595.00 | 3,506.00 | 4,123.00 | 6,085.00 |
| Total expenses | 25,919.00 | 24,821.00 | 25,957.00 | 29,070.00 | 27,808.00 | 28,331.00 | 30,231.00 |
| Profit before exceptional items and tax | 12,752.00 | 16,003.00 | 16,741.00 | 17,535.00 | 19,105.00 | 19,128.00 | 17,453.00 |
| Exceptional items | 0.00 | -1,079.00 | 3,320.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Profit before tax | 12,752.00 | 14,924.00 | 20,061.00 | 17,535.00 | 19,105.00 | 19,128.00 | 17,453.00 |
| Current tax | 2,320.00 | 2,509.00 | 3,314.00 | 2,945.00 | 3,338.00 | 3,362.00 | 3,199.00 |
| Deferred tax | 1,210.00 | 956.00 | -528.00 | -660.00 | -397.00 | 410.00 | -4,581.00 |
| Tax expense | 3,531.00 | 3,464.00 | 2,786.00 | 2,284.00 | 2,941.00 | 3,773.00 | -1,381.00 |
| Profit for the period | 11,059.00 | 12,036.00 | 16,824.00 | 15,417.00 | 15,573.00 | 15,521.00 | 15,928.00 |
| Profit attributable to owners | 11,059.00 | 12,036.00 | — | 15,417.00 | 15,573.00 | 15,521.00 | 15,928.00 |
| Profit attributable to non-controlling interests | 0.00 | 0.00 | — | 0.00 | 0.00 | 0.00 | 0.00 |
| Other comprehensive income | -104.00 | 25.00 | 291.00 | -104.00 | -235.00 | -236.00 | 266.00 |
| Total comprehensive income | 10,955.00 | 12,062.00 | 17,115.00 | 15,313.00 | 15,339.00 | 15,285.00 | 16,194.00 |
| Earnings per share, basic | 21.14 | 23.01 | 24.12 | 22.10 | 16.74 | 16.69 | 17.13 |
| Earnings per share, diluted | 21.14 | 23.01 | 24.12 | 22.10 | 16.74 | 16.69 | 17.13 |
Balance sheet, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Total assets | 252,645.00 | 250,296.00 | 245,502.00 | 250,891.00 | 255,297.00 | 266,107.00 | 278,412.00 | 294,727.00 |
| Non-current assets | 218,305.00 | 215,393.00 | 212,414.00 | 214,296.00 | 217,196.00 | 226,731.00 | 236,336.00 | 254,598.00 |
| Current assets | 24,095.00 | 24,408.00 | 23,206.00 | 26,792.00 | 28,076.00 | 29,499.00 | 31,022.00 | 30,658.00 |
| Property, plant and equipment | 187,786.00 | 183,777.00 | 180,240.00 | 176,223.00 | 172,593.00 | 170,886.00 | 167,293.00 | 174,970.00 |
| Capital work-in-progress | 12,271.00 | 13,741.00 | 13,922.00 | 18,082.00 | 23,767.00 | 33,269.00 | 43,808.00 | 43,654.00 |
| Goodwill | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Other intangible assets | 1,688.00 | 1,660.00 | 1,607.00 | 1,538.00 | 1,477.00 | 1,434.00 | 1,380.00 | 1,560.00 |
| Inventories | 1,347.00 | 1,340.00 | 1,361.00 | 1,406.00 | 1,405.00 | 1,803.00 | 1,884.00 | 2,126.00 |
| Trade receivables | 14,078.00 | 12,961.00 | 11,641.00 | 11,540.00 | 10,816.00 | 7,965.00 | 9,766.00 | 11,673.00 |
| Cash and cash equivalents | 2,137.00 | 5,192.00 | 4,693.00 | 3,464.00 | 3,847.00 | 3,797.00 | 3,324.00 | 5,281.00 |
| Total equity and liabilities | 252,645.00 | 250,296.00 | 245,502.00 | 250,891.00 | 255,297.00 | 266,107.00 | 278,412.00 | 294,727.00 |
| Equity | 82,208.00 | 83,015.00 | 86,885.00 | 87,145.00 | 92,061.00 | 92,663.00 | 98,932.00 | 100,494.00 |
| Equity share capital | 6,975.00 | 6,975.00 | 9,301.00 | 9,301.00 | 9,301.00 | 9,301.00 | 9,301.00 | 9,301.00 |
| Other equity | 75,233.00 | 76,039.00 | 77,585.00 | 77,845.00 | 82,760.00 | 83,362.00 | 89,631.00 | 91,193.00 |
| Total liabilities | 170,436.00 | 167,281.00 | 158,617.00 | 163,745.00 | 163,236.00 | 173,444.00 | 179,481.00 | 194,233.00 |
| Non-current liabilities | 136,798.00 | 139,139.00 | 131,240.00 | 129,325.00 | 128,349.00 | 133,199.00 | 144,273.00 | 140,435.00 |
| Current liabilities | 33,638.00 | 28,142.00 | 27,377.00 | 34,421.00 | 34,886.00 | 40,245.00 | 35,207.00 | 51,196.00 |
| Borrowings, non-current | 111,171.00 | 113,891.00 | 106,646.00 | 105,067.00 | 104,112.00 | 109,858.00 | 120,313.00 | 121,072.00 |
| Borrowings, current | 19,405.00 | 12,704.00 | 13,204.00 | 18,382.00 | 18,387.00 | 21,107.00 | 15,610.00 | 26,937.00 |
| Trade payables | 249.00 | 328.00 | 283.00 | 371.00 | 445.00 | 620.00 | 661.00 | 956.00 |
Cash flow, as filed
| Line | 2022-09-30 | 2023-03-31 | 2023-09-30 | 2024-03-31 | 2024-09-30 | 2025-03-31 | 2025-09-30 | 2026-03-31 |
|---|---|---|---|---|---|---|---|---|
| Net cash from operating activities | 13,271.00 | 38,005.00 | 18,330.00 | 37,290.00 | 17,527.00 | 36,223.00 | 14,832.00 | 40,931.00 |
| Net cash from investing activities | -1,783.00 | -6,126.00 | -3,656.00 | -13,114.00 | -8,700.00 | -23,533.00 | -13,092.00 | -35,305.00 |
| Net cash from financing activities | -11,928.00 | -29,264.00 | -15,174.00 | -25,903.00 | -8,444.00 | -12,357.00 | -2,213.00 | -4,006.00 |
| Purchase of property, plant and equipment | 1,948.00 | 5,242.00 | 2,795.00 | 9,323.00 | 8,230.00 | 22,614.00 | 12,667.00 | 37,279.00 |
| Net increase in cash | -441.00 | 2,615.00 | -500.00 | -1,728.00 | 383.00 | 333.00 | -473.00 | 1,619.00 |
| con:CFO.BEFORE_TAX | 14,744.00 | 40,858.00 | 19,866.00 | 40,670.00 | 18,891.00 | 39,402.00 | 16,455.00 | 44,152.00 |
| con:INTEREST_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:INTEREST_PAID.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:DIVIDENDS_RECEIVED.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:TAX_PAID.OPERATING | 1,473.00 | 2,853.00 | 1,536.00 | 3,381.00 | 1,364.00 | 3,179.00 | 1,623.00 | 3,166.00 |
| con:CF_OTHER.OPERATING | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -56.00 |
| con:INVESTMENTS_PURCHASED | 0.00 | 2.00 | 238.00 | 370.00 | 33.00 | 0.00 | 0.00 | 3,385.00 |
| con:INVESTMENTS_SOLD | 3.00 | 0.00 | 0.00 | 0.00 | 0.00 | 470.00 | 4.00 | 3,160.00 |
| con:PPE_DISPOSALS | 0.00 | 0.00 | 0.00 | 0.00 | 7.00 | 23.00 | 12.00 | 31.00 |
| con:CF_INVESTING.SUBSIDIARIES_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.SUBSIDIARIES_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_SOLD | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| con:CF_INVESTING.JV_ACQUIRED | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | -19.00 |
Who owns it
The shareholding pattern filed with the exchange every quarter, as a series. Percentages are of total shares. Each figure names the filing it was read from and the date it was filed.
| Holder | 2023-03-31 | 2023-06-30 | 2023-09-30 | 2023-12-31 | 2024-03-31 | 2024-06-30 | 2024-09-30 | 2024-12-31 | 2025-03-31 | 2025-06-30 | 2025-09-30 | 2025-12-31 | 2026-03-31 | 2026-06-30 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Promoter and promoter group | 51.34 | 51.34 | 51.34 | 51.34 | 51.34 | 51.34 | 51.34 | 51.34 | 51.34 | 51.34 | 0.51 | 0.51 | 0.51 | 0.51 |
| Domestic institutions | 13.39 | 12.58 | 13.22 | 14.79 | 15.28 | 16.33 | 16.90 | 17.04 | 18.35 | 18.55 | 0.19 | 0.20 | 0.20 | 0.21 |
| Mutual funds | — | — | — | — | — | — | — | — | — | 12.81 | 0.13 | 0.14 | 0.14 | 0.14 |
| Insurance companies | 3.66 | 3.18 | 2.96 | 3.48 | 3.57 | 3.71 | 3.60 | 3.63 | 3.87 | 3.87 | 0.04 | 0.05 | 0.05 | 0.05 |
| Foreign institutions | 32.29 | 33.14 | 32.01 | 30.51 | 29.83 | 28.73 | 28.26 | 28.12 | 26.78 | 26.51 | 0.26 | 0.25 | 0.25 | 0.24 |
| Government | — | — | — | — | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Public | 48.66 | 48.66 | 48.66 | 48.66 | 48.66 | 48.66 | 48.66 | 48.66 | 48.66 | 48.66 | 0.49 | 0.49 | 0.49 | 0.49 |
| Non-institutional | 2.97 | 2.94 | 3.42 | 3.36 | 3.56 | 3.60 | 3.50 | 3.50 | 3.53 | 3.60 | 0.04 | 0.04 | 0.04 | 0.04 |
| Shares outstanding | 6975452864 | 6975452864 | 9300603819 | 9300603819 | 9300603819 | 9300603819 | 9300603819 | 9300603819 | 9300603819 | 9300603819 | 9300603819 | 9300603819 | 9300603819 | 9300603819 |
Related parties
Transactions with related parties as disclosed to the exchange for the period ending 2024-09-30, by counterparty, largest first. Amounts are as filed. Each row names the filing and the date it was filed.
| Counterparty | Relationship | Type | Amount in the period | Transactions |
|---|---|---|---|---|
| Central Transmission Utility of India Limited | Subsidiary | Any other transaction, Investment | 191,027,200,000.00 | 3 |
| Powergrid Energy Services Limited | Subsidiary | Any other transaction, Interest received, Investment | 5,797,300,000.00 | 9 |
| Powergrid Bhadla III Transmission Limited | Subsidiary | Any other transaction, Interest received, Investment | 5,436,100,000.00 | 8 |
| Powergrid Khavda II-C Transmission Limited | Subsidiary | Interest received, Investment, Loan, Sale of goods o | 4,550,500,000.00 | 7 |
| Powergrid Ramgarh II Transmission Limited | Subsidiary | Any other transaction, Interest received, Investment | 3,804,800,000.00 | 8 |
| Powergrid Teleservices Limited | Subsidiary | Advance, Any other transaction, Dividend received, I | 3,584,300,000.00 | 12 |
| Powergrid Beawar Dausa Transmission Limited | Subsidiary | Any other transaction, Interest received, Investment | 3,511,100,000.00 | 8 |
| Powergrid Bhadla Sikar Transmission Limited | Subsidiary | Interest received, Investment, Loan, Sale of goods o | 3,186,200,000.00 | 7 |
| Powergrid Sikar Transmission Limited | Subsidiary | Any other transaction, Interest received, Investment | 3,154,000,000.00 | 8 |
| Powergrid Narela Transmission Limited | Subsidiary | Any other transaction, Interest received, Investment | 3,001,700,000.00 | 8 |
| Powergrid Sikar Khetri Transmission Limited | Subsidiary | Advance, Any other transaction, Interest received, I | 2,704,200,000.00 | 11 |
| Powergrid KPS3 Transmission Limited | Subsidiary | Interest received, Investment, Loan, Sale of goods o | 2,569,400,000.00 | 7 |
| Powergrid Khavda II- B Transmission Limited | Subsidiary | Interest received, Investment, Loan, Sale of goods o | 2,560,300,000.00 | 7 |
| Powergrid Vataman Transmission Limited | Subsidiary | Interest received, Investment, Loan, Sale of goods o | 2,506,400,000.00 | 7 |
| Powergrid Khavda RE Transmission System Limited | Subsidiary | Interest received, Investment, Loan, Sale of goods o | 2,325,900,000.00 | 7 |
What management said
Every earnings call we hold for this company, read in full. Prepared remarks are separated from the question-and-answer session and every paragraph names who said it and on which page. These are management’s own words, not filed figures.
| Date | Quarter | Who spoke | |
|---|---|---|---|
| 2026-08-14 | Q1FY27 | Read the call | |
| 2026-05-25 | Q4FY26 | Read the call | |
| 2026-04-01 | Q4FY26 | Read the call | |
| 2026-02-09 | Q3FY26 | Read the call | |
| 2025-11-12 | Q2FY26 | Read the call | |
| 2025-08-08 | Q1FY26 | Read the call | |
| 2025-05-28 | Q4FY25 | Read the call | |
| 2025-02-12 | Q3FY25 | Read the call | |
| 2024-11-14 | Q2FY25 | Read the call | |
| 2024-08-02 | Q1FY25 | Read the call | |
| 2024-05-31 | Q4FY24 | Read the call | |
| 2024-02-16 | Q3FY24 | Read the call | |
| 2023-11-16 | Q2FY24 | Read the call | |
| 2023-08-08 | Q1FY24 | Read the call | |
| 2023-05-30 | Q4FY23 | Read the call | |
| 2023-02-03 | Q3FY23 | Read the call |
What they said about it, quarter by quarter
| Topic | Q3FY23 | Q3FY24 | Q3FY25 | Q3FY26 | Q4FY23 | Q4FY24 | Q4FY25 | Q4FY26 |
|---|---|---|---|---|---|---|---|---|
| Capex | 270 sub-stations all across the country, 85% of the inter-regional transmission capacity is owned by POWERGRID. − In terms of current year’s performan… | So, once the Lower Subansiri project is commissioned, so it can be successfully evacuated from Arunachal Pradesh to the rest of the country because it… | And during last nine months, our CapEx has been ₹17,651 crores as against ₹7,690 crores last year. | We are a backbone transmission company for supply of electricity from any corner of the country and to any other part of the country. - Then second pa… | Coming to the performance highlights of 22-23, first on CapEx. | 12,500 crore CapEx in FY24, which is over 4% of our Gross Block, which is about Rs. | Next, last year, as committed, we have surpassed our Capex target of about INR 20,000 crores. | Okay, financial year, 25-26, I am happy to announce that last investors meet, we have revised our Capex guideline to Rs. |
| Capital allocation | And the question is mainly on the policy of dividend distribution. | Like if we talk about digitization, so we are using SAP for Enterprise Asset Management, then remote acquisition of the data for NTAMC. | As per Public Enterprises Survey '23-'24, we have been given first rank in Net Profit; first rank in Dividend Declared; second rank in Gross Block; se… | Dividend from subsidiaries – ₹347 crores. | — | 573 crore, dividend from JVs 68 crore, dividend from subsidiaries Rs. | We have dedicated ROW and land acquisition cells at Gurgaon, where all the ROW issues being faced by site are addressed from here. | Because everybody knows that Energy security requires energy transition, especially for India, which is very heavily dependent on imported fossil fuel… |
| Costs | — | — | — | Could you give us a ballpark in terms of, what is the average cost saving versus what NCT believes the estimates versus what POWERGRID is able to do t… | — | — | And how much cost inflation are you seeing versus the initial expectations you had for some of these? | Mr. Ravisankar Ganesan – Director (Finance) & CFO: There will be some part of, moreover, this is for administrative purposes and governance, we wanted… |
| Debt and cash | Going forward we will see little bit more improvement in the debt-equity primarily because of the deleveraging that is happening following repayment o… | — | So, of our monetisation, we have adopted the route of securitisation of the cash flows and through which we raised the bonds and then we opened TRA ac… | — | We have the issue of monetization of cash flows, when we did the first tranche, the NMP was not released. | — | — | Our robust balance sheet, healthy cash flows and consistent dividend track record continues to reinforce POWERGRID’s position as a stable and dependab… |
| Demand | So, there is a robust pipeline of transmission projects which come predominantly in the TBCB category. − As far as POWERGRID is concerned, we have wor… | So, it is a very good step in successful or in reliable operation of the grid. - There has been continuous demand or requirement for integration of va… | And would we be able to execute and commission our pipeline of projects within time? | Then, 71 GW will be additional electricity demand only for Green hydrogen by 2032. - In Energy Storage, we have 47 GW BESS, that is Battery Based Ener… | We have a demand for about 67 lakh meters there. | That means one HVDC line, it can carry 6,000 Megawatts which is more than the requirement of metro cities like Mumbai, Hyderabad, Chennai and other ci… | We operate in almost all the states and all the districts of the country, and we are playing a very important role in meeting the power demand of the … | Like India's transmission system, it is going to expand leaps and bound, electricity demand is going to increase. |
| Guidance | One question is ‘can you give us some guidance on smart metering capex over the next couple of years’, that’s number one. − Mr. K. | So, we will get this revenues very shortly. - As far as our outlook for next few years, we have work in hand as on today Rs. | And the figures which we have mentioned in our NEP plan framework, when we add up based on your guidance, overall CapEx for next two years translates … | So, I will be sharing the details during my presentation. - My presentation will cover: highlights, project execution, how we are operating our assets… | So, we created inhouse model, which will identify based on image processing the defects, so we expect this - right now it is in demo version or what i… | And whatever additional CapEx will be required, we expect that more and more projects will be commissioned, and we will have more profit to take care … | So, if you could state what is the picture today in terms of the spillovers of commissioning, which have happened maybe early this fiscal, and what is… | My presentation will consist of Foundations & Growth Outlook, Then, Execution & Operational Excellence, Revised Capex & Capitalization Guidance, Then … |
| Margin | So, you need to adjust for that. − Mr. Sumit Kishore: − No, we made that adjustment at the EBITDA level, we took those, you know, line items above the… | So, we are able to maintain EBITDA 80% plus and Profit After Tax 11,407 crore and for Q3 4,028 crore. - We have a total Gross Fixed Assets almost 2,74… | Total income, ₹34,869 crores and EBITDA ₹30,148 crores and profit after tax is ₹11,379 crores. | So, far we have only procured 220kV but 132kV and 400kV have been ordered and they will be also coming very shortly. - Financials: - In financials, ou… | The margin or the delta between raising through InvIT and raising through securitization is a bit steep today compared to what it was when we did the … | EBITDA margin (excluding Telecom) of Q4 was Rs. | — | My first question is can you please explain the reason for EBITDA decline in Q4 FY26? |
| People | — | — | — | If a lattice tower of 400 kV level, it will have RoW of 46 meter, but in case of monopole with insulated cross arm it will have 31 meter RoW, so it wi… | — | — | — | If we had to, increase the utilization of transmission system, battery energy storage system at the generating station itself, or RE developer station… |
| Pricing | — | — | — | — | — | — | — | — |
| Revenue growth | For this quarter there has been a growth income by 8% PAT has seen a growth of 11%. | We are committed for the growth of the company and the way we have been working for the last 30 years, we will continue to grow like that for the serv… | So that will also lead to growth of transmission sector in India also. | So, there have been additions of new initiatives and we shall help POWERGRID in achieving our CapEx and capitalization and growth of POWERGRID like we… | We have grown to be 37 subsidiaries, showing the growth of TBCB’s in our fold, 174,000 circuit kilometers, 272 substations, 97,290 megawatts of interr… | — | — | And the for the future plans also, we will like to share how we are going to contribute towards growth of the nation. |