POWERGRID

Power Grid Corporation of India share price & financials

Price
₹283.55
Market cap
₹2.4L Cr
Sector
Power
Calls analysed
9
Latest concall · Q1 FY27 · call held 07 Aug 2026

Power Grid Corporation of India Limited Q1 FY27

PAT ₹3,598 cr −1%EPS ₹3.87 Total Income ₹11,697 cr +2%

What went well

  • Gross fixed assets increased to over ₹3.25 lakh crore.
  • Q1 FY27 capitalization of ₹5,277 crores, up 213.5% from ₹1,683 crores in Q1 FY26.
  • Commissioned 1,635 circuit kilometers of transmission lines and 10,500 MVA of transformation capacity.

What to watch

  • PAT impacted by a regulatory drag of ₹560 crores due to depreciation and interest differences between petitions and CERC orders.
  • Dividend from JVs and subsidiaries was lower due to 'held for sale' status of some assets.
Read the full call →

What Power Grid Corporation of India Limited does

Power Grid Corporation of India is a government-owned electric power transmission utility that plans, builds, owns and operates the high-voltage inter-state network carrying electricity from generators to state grids. It earns largely regulated, availability-linked tariff revenue on its transmission assets, with a growing share won through tariff-based competitive bidding (TBCB). It also runs a telecom infrastructure business and is developing its first data centre.

Segments

  • Transmission
  • Telecom
Market position
India's largest and system-critical power transmission utility
Share of India's ISTS network
~84%
Transmission lines
1,575 lines (1,84,434 ckm)
Substations
290 (6,12,331 MVA transformation capacity)
Inter-regional transfer capacity
~101 GW (84% of national total)
HVDC projects
11 across India
Founded 1989Headquarters Gurugram, Haryana Company website

Guidance record · Q1 FY27

what the last two calls moved 18 tracked 5 delivered 4 missed 9 open
  • New Project Commissioning Timeline delivered said Q4 FY26 Promised: 30 to 36 months Q1 FY27: Management confirms that the government has officially revised project timelines to 26-30 months, validating the company's feedback and setting a new, more realistic standard.
  • TBCB ROE Threshold went quiet said Q4 FY25 Promised: Above 12-13% Q1 FY27: The specific 12-13% ROE threshold for bidding was not mentioned again. Topic remains unaddressed.
  • FY27 CAPEX on track said Q1 FY26 Promised: ₹35,000 Crore Q1 FY27: Guidance of 'more than ₹37,000 crore' reiterated. Management notes Q1 capex is >10% of the annual target, showing good progress.

All 18 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 2.7%, net profit down 0.9% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue11,278 11,233 12,275 11,196 11,476 +2%12,395 +10%11,666 −5%11,497 +3%
EBITDA9,597 9,533 10,194 9,102 9,055 −6%10,607 +11%5,303 −48%9,430 +4%
Net profit3,793 3,862 4,143 3,631 3,566 −6%4,185 +8%4,546 +10%3,598 −1%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −4.9% 1Y

₹260₹280₹300₹320Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q2 FY26 — 4 Nov 2025Q4 FY26 — 23 Mar 2026Q4 FY26 — 18 May 2026Q1 FY27 — 7 Aug 2026

1Y: ₹282.95 on 10 Sept 2025 → ₹269.1. High ₹320.9 (27 Apr 2026), low ₹251.35 (1 Feb 2026).

How the price took the results

close before → close after

Q1 FY27
+0.3%
7 Aug
Q4 FY26
+1.5%
23 Mar
Q2 FY26
−3.1%
4 Nov

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue grew 0.8% a year over 3 years, FY23 to FY26. Operating margin narrowed to 72.9%.

Year endingFY23FY24FY25FY26
Revenue₹45.6k Cr₹45.8k Cr₹45.8k Cr₹46.7k Cr
Operating profit₹39.3k Cr₹39.1k Cr₹38.9k Cr₹34.1k Cr
Operating margin86.3%85.4%84.9%72.9%
Interest₹9.6k Cr₹8.8k Cr₹8.7k Cr₹8.4k Cr
Depreciation₹13.3k Cr₹13.1k Cr₹12.9k Cr₹13.0k Cr
Net profit₹15.4k Cr₹15.6k Cr₹15.5k Cr₹15.9k Cr
Net margin33.8%34.0%33.9%34.1%
ROCE13.0%13.0%13.0%9.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹5.2k Cr₹7.0k Cr₹7.0k Cr₹9.3k Cr₹9.3k Cr₹9.3k Cr
Reserves₹64.7k Cr₹69.3k Cr₹76.0k Cr₹77.8k Cr₹89.6k Cr₹91.2k Cr
Borrowings₹143.2k Cr₹134.7k Cr₹126.7k Cr₹123.5k Cr₹136.0k Cr₹148.1k Cr
Other liabilities₹42.5k Cr₹40.0k Cr₹40.6k Cr₹40.2k Cr₹43.5k Cr₹46.1k Cr
Total liabilities₹255.7k Cr₹250.9k Cr₹250.3k Cr₹250.8k Cr₹278.4k Cr₹294.7k Cr
Fixed assets₹183.7k Cr₹191.8k Cr₹185.4k Cr₹177.8k Cr₹169.0k Cr₹176.5k Cr
Capital work in progress₹24.8k Cr₹12.9k Cr₹13.8k Cr₹18.2k Cr₹43.8k Cr₹43.7k Cr
Investments₹1.5k Cr₹3.8k Cr₹3.5k Cr₹4.2k Cr₹3.7k Cr₹3.0k Cr
Other assets₹45.7k Cr₹42.5k Cr₹47.6k Cr₹50.7k Cr₹61.9k Cr₹71.4k Cr
Total assets₹255.7k Cr₹250.9k Cr₹250.3k Cr₹250.8k Cr₹278.4k Cr₹294.7k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, FIIs trimmed −2.17 pp while DIIs added +2.13 pp. The shareholder count shrank 3% to 13,51,868.

Promoters
51.3%
FIIs
24.3%
DIIs
20.6%
Government
0.1%
Public
3.6%

Since Jun 2025

  • FIIs −2.17 pp
  • DIIs +2.13 pp
  • Public +0.02 pp

How it drifted, 12 quarters

Over this window FIIs fell from 32.0% to 24.3% — −7.7 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 51.3%, FIIs 32.0%, DIIs 13.2%, Public 3.4%.Dec '23: Promoters 51.3%, FIIs 30.5%, DIIs 14.8%, Public 3.4%.Mar '24: Promoters 51.3%, FIIs 29.8%, DIIs 15.3%, Public 3.6%.Jun '24: Promoters 51.3%, FIIs 28.7%, DIIs 16.3%, Public 3.6%.Sep '24: Promoters 51.3%, FIIs 28.3%, DIIs 16.9%, Public 3.5%.Dec '24: Promoters 51.3%, FIIs 28.1%, DIIs 17.0%, Government 0.0%, Public 3.5%.Mar '25: Promoters 51.3%, FIIs 26.8%, DIIs 18.3%, Government 0.1%, Public 3.5%.Jun '25: Promoters 51.3%, FIIs 26.5%, DIIs 18.5%, Government 0.1%, Public 3.6%.Sep '25: Promoters 51.3%, FIIs 25.7%, DIIs 19.3%, Government 0.1%, Public 3.6%.Dec '25: Promoters 51.3%, FIIs 24.7%, DIIs 20.2%, Government 0.1%, Public 3.7%.Mar '26: Promoters 51.3%, FIIs 25.0%, DIIs 20.1%, Government 0.1%, Public 3.5%.Jun '26: Promoters 51.3%, FIIs 24.3%, DIIs 20.6%, Government 0.1%, Public 3.6%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 5 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Power Grid Corporation of India Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
President Of India 49.40%unchanged
Life Insurance Corporation Of India - Ulif00420091 Insurer4.52%newly disclosed
Parag Parikh Arbitrage Fund Mutual fund3.56%newly disclosed
SBI Arbitrage Opportunities Fund - 2 Mutual fund2.13%newly disclosed
President Of India - 3 1.94%newly disclosed
Nippon Life India Trustee Ltd-A/C Nippon India Con Mutual fund1.87%unchanged
Government Of Singapore Sovereign1.76%−0.36 pp
HDFC Mutual Fund - HDFC BSE 500 ETF Mutual fund1.76%newly disclosed
NPS Trust A/C UTI Pension Fund Limited-Scheme Cent Pension / PF1.54%+0.11 pp
ICICI Prudential Esg Exclusionary Strategy Fund Mutual fund1.34%newly disclosed
UTI Nifty 50 Index Fund Mutual fund1.09%+0.09 pp
LICI New Endowment Plus-Secured Fund Insurer—off the list

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

Mutual funds in POWERGRID

Filings to Aug 2026

0 new, 18 added, 10 trimmed, 0 sold out — net −38.60 L shares (−0.8%).

Held by funds
₹13.0k Cr
37 schemes
Biggest holder
CPSE ETF
₹3.4k Cr · 17.8% of that fund
SchemeHoldingLast month
CPSE ETF Nippon India Mutual Fund₹3.4k Cr+1.46 L
HDFC Flexi Cap Fund HDFC Mutual Fund₹2.5k Cr−12.24 L
SBI Nifty 50 ETF SBI Mutual Fund₹2.3k Cr+4.62 L
SBI BSE Sensex ETF SBI Mutual Fund₹1.6k Cr+6.04 L
Nippon India ETF Nifty 50 BeES Nippon India Mutual Fund₹726 Cr+5.54 L
SBI PSU Fund SBI Mutual Fund₹477 Cr−18.50 L
SBI Balanced Advantage Fund SBI Mutual Fund₹430 Crheld
Nippon India ETF BSE Sensex Nippon India Mutual Fund₹379 Cr+4.03 L

HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.

Mutual funds Aug 2026

18 added, 10 trimmed — net −38.60 L shares (−0.8%)

Funds are sitting on
+44%
vs est. average cost
Held by funds
₹13.0k Cr
37 schemes · ≈ 5.6% of the company
Biggest holder
CPSE ETF
₹3.4k Cr · 17.8% of that fund
Longest holder
Nippon India Index Fund - Nifty 50 Plan
14y · since Sep '12

Shares held by these funds −4%

Aug '23 48.49 cr shares Jul '26

All earnings calls (8)

Read the Q1 FY27 call →

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