Power Grid of India
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Power Grid of India (POWERGRID) investor relations material

Power Grid of India Q3 25/26 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 25/26 earnings summary2 Feb, 2026

Executive summary

  • Gross fixed assets surpassed ₹3 trillion, reinforcing the position as India's national transmission backbone.

  • FY26 capex and capitalization guidance revised upward, reflecting strong execution and growth visibility.

  • International expansion initiated with a major PPP project in Kenya in partnership with Africa50.

  • Strategic entry into Battery Energy Storage Systems (BESS) with a 150 MW/300 MWh project win.

  • Board declared two interim dividends for FY26: ₹4.50 per share in November 2025 and ₹3.25 per share in January 2026.

Financial highlights

  • Consolidated total income for 9MFY26 reached ₹35,714 crore, up 2% year-over-year; Q3 FY26 income was ₹12,599.08 crore.

  • EBITDA for 9MFY26 stood at ₹29,846 crore; profit after tax was ₹11,382 crore.

  • Debt:Equity ratio maintained at 59:41; net worth at ₹98,906 crore as of Dec 31, 2025.

  • Billing realization rate at 103.07% for Apr–Dec 2025; trade receivable days at a record low of 24.65.

  • Earnings per share (consolidated) at ₹12.24 for 9MFY26; Q3 FY26 EPS at ₹4.50.

Outlook and guidance

  • Capex guidance for FY26 revised from ₹28,000 crore to ₹32,000 crore; capitalization guidance from ₹20,000 crore to ₹22,000 crore.

  • Strong execution pipeline with works in hand worth ₹1,45,513 crore as of Jan 30, 2026.

  • Transmission income recognized as per new CERC Tariff Regulations, 2024, for the 2024-29 block period.

  • Positioned to benefit from India's energy transition, with demand drivers including EVs, green hydrogen, and data centers.

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Frequently asked questions

Power Grid Corporation of India Limited is a state-owned electric utility company engaged in power transmission across India. The company operates a vast network of transmission lines and substations and provides consultancy services in power system engineering. It plays a central role in India’s national grid operations. Power Grid Corporation of India Limited is headquartered in Gurugram, India, and its shares are listed on the NSE.

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