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Power Grid Corpn

Q1 FY26Power

Power Grid Corpn Q1 FY26: Revenue ₹153 Cr

Q1 FY26 earnings call: what management said on revenue, margins and capex.

Price₹272
Market cap₹2.5L Cr
P/E15.9
Updated23 Aug 2026
Read4 min read

Power Grid Corpn Q1 FY26 key numbers

Revenue
Core growth driver is transmission business, with major focus on TBCB projects (~₹99,000 Crore in hand).

As stated in Power Grid Corpn's Q1 FY26 earnings call transcript · published 21 Aug 2026. Reported figures, not investment advice.

The short version

Core growth driver is transmission business, with major focus on TBCB projects (~₹99,000 Crore in hand). POWERGRID has a strong project pipeline with about ₹1,48,000 Crore projects in hand and ₹67,000 Crore worth projects recently bid out or to be bid, supporting future growth.

From Power Grid Corpn's Q1 FY26 earnings-call transcript · updated 23 Aug 2026.

Revenue & Sales Performance

  • Core growth driver is transmission business, with major focus on TBCB projects (~₹99,000 Crore in hand).
  • Expansion in telecom and consultancy businesses, with telecom income increasing and new smart meter business contributing ₹153 Crore revenue for FY25-26.
  • Venturing into solar power with 85MW commissioned, Green Hydrogen projects underway (Neemrana substation), and Battery Energy Storage Systems (BESS) participation planned (e.g., 2000 MW/4000 MWh tender in Rajasthan).
  • Strong project pipeline: ₹1,48,000 Crore projects in hand, plus ₹67,000 Crore projects up for bidding, and ₹75,000 Crore newly approved projects queued.
  • Capex plans to grow from ₹28,000 Crore (FY26) to ₹35,000 Crore (FY27) and ₹45,000 Crore (FY28).

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Profitability & Margins

See what Power Grid Corpn said on profitability & margins — free account, 30 seconds.

Capital Expenditure Plans

  • Capex plan for FY26 is ₹28,000 Crore, including:
  • RTM: ₹3,500 Crore
  • TBCB: ₹19,000 Crore
  • Other projects: ₹5,300 Crore
  • FY27 Capex expected to be around ₹35,000 Crore.
  • FY28 Capex projected around ₹45,000 Crore.
  • Commissioning target for FY26 is about ₹22,000-₹25,000 Crore.
  • Advanced procurement of critical equipment like transformers is done to mitigate supply challenges.
  • Strategic focus on BESS (Battery Energy Storage Systems) and Green Hydrogen:
  • Orders placed for Green Hydrogen at Neemrana substation.
  • Plans to participate in Rajasthan BESS tender (~2000 MW/4000 MWh).
  • Exploring HVDC projects including Khavda KPS 3 to South Olpad and Barmer to South Kalamb.

2 more points from Power Grid Corpn's call on capex

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Top-ranked in Power

Ranked on what management guided this quarter

Guidance-ranked
1Insolation Ener
Rev 1Mar 1
2ACME Solar Holdings Ltd
Rev 1Mar 3
3
Rev 1Mar 3
4
Rev 1Mar 3
5
Rev 2Mar 3
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Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.

Fundraising & Capital Structure

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Order Book & Pipeline

  • Current work in hand: Approximately ₹99,000 Crore.
  • Total projects in hand (work in progress + new projects): Around ₹1,90,000 Crore (₹1,48,000 Crore worth projects + ₹41,000 Crore work in progress).
  • New projects approved but yet to be floated: ₹29,000 Crore.
  • Projects already bid out and due for bid submission: ₹39,000 Crore.
  • Combined projects up for grab: About ₹67,000 Crore.
  • Recent approvals in NCT for future bidding: ₹75,000 Crore.

2 more points from Power Grid Corpn's call on order book

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Power Grid Corpn — Quarterly revenue & net profit

Revenue Net profit
Jun 2025Q1 FY26
Sep 2025Q2 FY26
Dec 2025Q3 FY26
Mar 2026Q4 FY26
Jun 2026Q1 FY27
Sep 2026Q2 FY27

Reported quarterly figures (₹ Cr). Latest (Q2 FY27): revenue ₹11.8K Cr, net profit ₹3.9K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.

Full financials →

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What Power Grid Corpn's management said in earlier quarters

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Frequently Asked Questions

What were Power Grid Corpn Q1 FY26 results?

Core growth driver is transmission business, with major focus on TBCB projects (~₹99,000 Crore in hand). POWERGRID has a strong project pipeline with about ₹1,48,000 Crore projects in hand and ₹67,000 Crore worth projects recently bid out or to be bid, supporting future growth.

What is Power Grid Corpn share price analysis?

Power Grid Corpn currently shows a neutral. The stock trades at a P/E of 15.9 with a market cap of ₹253,348 Cr. Investors should review the full earnings analysis for detailed insights.

Is Power Grid Corpn planning capital expenditure?

Capex plan for FY26 is ₹28,000 Crore, including: - RTM: ₹3,500 Crore - TBCB: ₹19,000 Crore - Other projects: ₹5,300 Crore - FY27 Capex expected to be around ₹35,000 Crore.

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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.