Power Grid Corporation Of India Ltd.

•

powergrid.inBSE: 532898NSE: POWERGRID

Market Cap₹ 2,52,976 Cr.

Current Price

High / Low₹ 325 / 250

Stock P/E15.9

Book Value₹ 112

Price to Book2.74

Dividend Yield3.31 %

ROCE9.7 %

ROE16.5 %

Face Value₹ 10

Add ratio to table

ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Transmission: 92.6% • Consultancy: 4.9% • Telecom: 2.5%

AI Sector View

AI GENERATED

Power

Buy

Operationally, power remains one of the strongest sectors in the dataset. Power generation rose 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), electricity core output was 9.0% YoY (2026-07), and coal offtake increased 10.0% YoY (2026-07). FPI outflows are a headwind at INR -10736 crore over 3 months to 2026-08-31, but the fundamental demand signal is strong enough to retain a positive stance.

Confidence

71%

View full sector analysis →

PROS

Company has consistently been profitable over the last 5 years
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.43x)
Company has been maintaining a healthy dividend payout of 52.6%
Working capital cycle has improved - days down from -86 to -160
Company has a consistent dividend-paying track record
Company generates healthy free cash flow

CONS

Receivables are growing faster than sales - a possible quality concern
Company has a low return on capital employed of 11.9%
Company has delivered a poor sales growth of 3.3% over past five years
Operating margins have contracted to 81.3% from 88.8%
Company has delivered a poor profit growth of 5.8% over past five years
Recurring exceptional / one-off items are inflating headline profit

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

PowerPowerPower Generation/Distribution

Part ofNIFTY 50 NIFTY CPSE NIFTY50 EQL WGT NIFTY DIV OPPS 50 NIFTYLARGEMIDCAP250

S.No.	Name
1.	ADANIPOWER	213.00	28.82	410764.00	0.00	4866.60	47.24	18901.89	33.97	17.79	42.67
2.	NTPC	337.00	11.77	326777.65	2.67	6896.44	-88.71	50740.96	7.81	8.52	33.23
3.	POWERGRID	272.00	15.91	252976.42	3.31	3598.42	-0.89	11496.72	2.68	9.74	82.97
4.	ADANIGREEN	1308.00	120.77	215450.64	0.00	983.00	19.30	4431.00	16.61	9.90	91.24
5.	ADANIENSOL	1393.00	58.36	170357.56	0.00	12365.60	2194.43	97110.80	1324.06	9.71	31.27
6.	TATAPOWER	367.00	30.35	117268.96	0.68	1400.86	10.98	19051.26	5.63	11.63	21.53
7.	JSWENERGY	532.00	49.58	97541.28	0.38	532.70	-36.27	5207.13	1.24	8.50	55.22
8.	NHPC	76.40	20.21	76744.07	2.11	1178.09	4.15	3808.31	18.50	6.16	61.80
9.	NTPCGREEN	87.74	121.81	73932.62	0.00	304.84	38.26	1106.86	62.72	3.73	91.95
10.	TORNTPOWER	1295.65	28.09	65288.26	1.54	661.85	-10.75	8124.15	2.75	14.37	18.93
11.	NLCINDIA	270.40	11.68	37494.65	1.42	436.33	-48.01	4716.75	23.29	11.27	32.83
12.	ACMESOLAR	396.95	46.50	28059.38	0.05	235.33	79.88	857.50	67.81	9.23	85.63

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	11,048	11,267	11,550	11,978	11,006	11,278	11,233	12,275	11,196	11,476	12,395	11,666	11,497
	1,366	1,359	1,337	1,879	1,404	1,576	1,695	2,052	2,049	2,362	1,742	2,600	7,112
Operating Profit	9,683	9,908	10,213	10,099	9,602	9,701	9,538	10,224	9,147	9,114	10,653	9,066	4,385
OPM %	87.64%	87.94%	88.42%	84.31%	87.25%	86.02%	84.91%	83.29%	81.69%	79.42%	85.95%	77.71%	38.14%
	209	263	270	327	273	568	510	315	248	194	204	305	200
Interest	2,057	2,341	2,446	1,928	2,039	2,441	1,917	2,303	1,934	2,148	2,190	2,175	2,023
Depreciation	3,266	3,277	3,293	3,259	3,200	3,292	3,216	3,196	3,130	3,223	3,381	3,295	3,128
Profit before Tax	4,569	4,553	4,743	5,239	4,637	4,536	4,914	5,041	4,330	3,937	5,285	3,901	4,587
Tax %	13.59%	12.60%	16.60%	18.29%	18.96%	19.50%	22.18%	18.23%	20.05%	21.07%	24.83%	-112.55%	19.24%
Net Profit	0	0	0	0	3,724	3,793	3,862	4,143	3,631	3,566	4,185	45,463	3,598
	3.87	4.06	4.33	4.48	4.00	4.08	4.15	4.46	3.90	3.84	4.50	4.89	3.87

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	25,697	29,954	35,059	37,744	39,640	41,622	45,603	45,843	45,792	46,733	47,033
	3,145	3,837	4,842	4,804	4,647	5,050	6,104	5,941	6,729	8,754	13,816
Operating Profit	22,552	26,117	30,217	32,939	34,993	36,571	39,500	39,902	39,063	37,979	33,217
OPM %	87.76%	87.19%	86.19%	87.27%	88.28%	87.87%	86.62%	87.04%	85.30%	81.27%	70.63%
	735	3,761	-1,810	2,612	690	3,868	1,251	499	1,946	-1,822	903
Interest	6,250	7,324	8,849	9,509	8,358	8,036	9,634	8,773	8,700	8,448	8,536
Depreciation	7,722	9,231	10,541	11,607	12,039	12,872	13,333	13,095	12,904	13,030	13,028
Profit before Tax	9,457	13,471	9,147	14,590	15,501	19,610	17,702	18,514	19,294	14,547	17,710
Tax %	21.21%	39.10%	-9.69%	24.20%	22.35%	14.21%	12.89%	15.88%	19.55%	-9.50%	-7.72%
Net Profit	7,451	8,204	10,034	11,059	12,036	16,824	15,420	15,573	15,521	15,928	19,077
EPS	14.24	15.68	19.18	21.14	17.26	24.12	16.58	16.74	16.69	17.13	—
Dividend Payout %	30.54%	33.48%	43.43%	47.30%	52.16%	61.16%	66.72%	67.19%	53.93%	52.55%	—

COMPOUNDED SALES GROWTH

10 Years:: 9%
5 Years:: 3%
3 Years:: 1%

COMPOUNDED PROFIT GROWTH

10 Years:: 10%
5 Years:: 6%
3 Years:: 1%

STOCK PRICE CAGR

10 Years:: 10%
5 Years:: 16%
3 Years:: 12%
1 Year:: -6%

RETURN ON EQUITY

10 Years:: 18%
5 Years:: 19%
3 Years:: 17%
Last Year:: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	5,232	5,232	5,232	5,232	5,232	6,975	6,975	9,301	9,301	9,301
	44,634	49,194	53,857	59,464	64,704	69,272	76,051	77,845	83,362	91,193
	1,18,685	1,29,594	1,49,568	1,62,409	1,56,665	1,42,938	1,40,007	1,28,907	1,35,733	1,52,620
Trade Payables	414	240	365	227	188	267	328	371	620	956
	36,814	47,743	46,019	38,082	37,679	43,825	40,063	40,673	43,415	46,430
Total Liabilities	2,05,778	2,32,004	2,55,040	2,65,413	2,64,468	2,63,277	2,63,424	2,57,096	2,72,431	3,00,500
	1,37,678	1,56,198	1,72,740	1,81,112	1,83,726	1,91,773	1,85,437	1,77,761	1,72,320	1,76,531
Capital Work in Progress	38,187	37,604	37,388	34,904	24,680	12,800	13,741	18,082	33,269	43,654
	1,165	1,224	1,296	1,431	1,486	3,804	3,750	4,424	3,117	2,995
	907	1,049	1,247	1,433	1,398	1,357	1,340	1,406	1,803	2,126
	0	0	0	0	0	0	0	11,540	7,965	11,673
Cash & Bank	3,354	2,189	4,337	5,454	5,539	5,048	7,385	7,495	10,077	8,920
	24,488	33,739	38,032	41,078	47,640	48,496	51,771	36,389	43,881	54,601
Total Assets	2,05,778	2,32,004	2,55,040	2,65,413	2,64,468	2,63,277	2,63,424	2,57,096	2,72,431	3,00,500

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	23,447	24,969	25,552	33,307	31,589	29,843	43,056	37,290	36,222	40,935
Cash from Investing	-23,836	-25,701	-18,727	-10,733	-9,063	753	-7,138	-13,114	-23,532	-35,310
Cash from Financing	3,959	1,285	-2,431	-18,806	-20,521	-28,967	-30,450	-25,903	-12,357	-4,006
	1,698	-1,707	2,113	1,199	-182	-2,091	2,615	-1,728	333	1,619

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	51.34	51.34	51.34	51.34	51.34	51.34	51.34	51.34	51.34
	28.72	28.26	28.11	26.79	26.50	25.66	24.73	25.02	24.33
	16.32	16.89	16.98	18.29	18.48	19.32	20.18	20.04	20.61
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	3.62	3.51	3.53	3.54	3.61	3.61	3.68	3.50	3.64

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-08

Change in Auditors

2026-09-08 - Power Grid Corporation of India Limited has informed the Exchange regarding Change in Auditors of the company.

2026-09-03

General Updates

2026-09-03 - Power Grid Corporation of India Limited has informed the Exchange about POWERGRID declared as successful bidder under TBCB.

2026-09-02

General Updates

2026-09-02 - Power Grid Corporation of India Limited has informed the Exchange about POWERGRID declared as successful bidder under TBCB

2026-08-31

Change in Management

2026-08-31 - Power Grid Corporation of India Limited has informed the Exchange about Change in Senior Management (Cessation).

2026-08-28

Acquisition

2026-08-28 - Power Grid Corporation of India Limited has informed the Exchange about Acquisition of Fatehgarh II Transmission Limited by POWERGRID under TBCB route.

2026-08-26

General Updates

2026-08-26 - Power Grid Corporation of India Limited has informed the Exchange about Disclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

2026-08-21

Shareholders meeting

2026-08-21 - Power Grid Corporation of India Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 20, 2026. Further, the company has informed the Exchange regarding voting results.

2026-08-21

General Updates

2026-08-21 - Power Grid Corporation of India Limited has informed the Exchange about POWERGRID declared as successful bidder under TBCB.

2026-08-20

Shareholders meeting

2026-08-20 - Power Grid Corporation of India Limited has informed the Exchange regarding Proceedings of Annual General Meeting held on August 20, 2026

News

Recent coverage and analyst commentary for POWERGRID

Loading news…

🤖

AI Stock Analyst

Power Grid Corporation Of India Ltd.

🔒

Sign in to Chat with AI

✨ Sign In to Chat

Free 5nance Account