Power Grid Corpn
Power Grid Corpn Q3 FY26 earnings call: Revenue & Margins
Q3 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
Power Grid anticipates significant growth driven by India's increasing electricity demand due to data centers, AI, EVs, and industrial expansion, aiming for developed nation status by 2047. - The revised transmission plan (FY27-36) includes a Rs. POWERGRID expects robust growth in earnings and profits driven by a strong project pipeline with Rs 7.9 trillion to Rs 9.1 trillion transmission capex plans until FY36.
From Power Grid Corpn's Q3 FY26 earnings-call transcript · updated 24 Sept 2026.
Revenue & Sales Performance
- Power Grid anticipates significant growth driven by India's increasing electricity demand due to data centers, AI, EVs, and industrial expansion, aiming for developed nation status by 2047.
- The revised transmission plan (FY27-36) includes a Rs. 7.9 trillion investment, with an original Rs. 9.1 trillion plan partially executed.
- Average capex expected around Rs. 40,000 crore annually from FY29 to FY36, with capitalization around Rs. 35,000 crore yearly.
- The bid pipeline remains strong with near-term bids worth Rs. 70,000 crore and potential bids averaging Rs. 90,000 crore over four years.
2 more points management made on revenue & sales performance
Profitability & Margins
See what Power Grid Corpn said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Current Capex guidance for FY27 shows an average of Rs. 37,000 to Rs. 40,000 crores annually, with capitalization targets of Rs. 30,000 to Rs. 35,000 crores.
- Ongoing projects amount to Rs. 1.48 lakh crore (including CWIP), excluding the Leh Pang-Pang Kaithal project due to project scope changes.
- Future capex from FY27 to FY36 is planned around Rs. 7.9 trillion (Rs. 7.9 lakh crore), revised from the earlier Rs. 9.1 trillion plan based on updated renewable energy targets.
- Bid pipeline includes near-term projects worth Rs. 70,000 crore and a longer pipeline of Rs. 3.6 lakh crore over 4 years, expected to average Rs. 90,000 crore worth of bids annually.
- Capacity to meet equity requirements for capex is supported by expected profits exceeding Rs. 17,000 crores annually and dividend payouts.
2 more points management made on capital expenditure plans
Top-ranked in Power
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Power Grid Corpn said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Current work in progress (orderbook) is Rs. 1.48 lakh crore, inclusive of ongoing projects and CWIP (Page 15).
- Excludes the Leh Pang Kaithal HVDC project due to uncertainty (potential change to AC network).
- Practically, about Rs. 1 lakh crore projects are available for CapEx execution to date (Page 15).
- Previous Rs. 9.1 trillion plan (2023-32) is under execution; part of it is completed or bid out.
- Near-term bid pipeline remains consistent with February 2026 guidance:
- Around Rs. 70,000 crore worth of projects in near-term pipeline.
- Approximately Rs. 3.6 lakh crore over the next 4 years for bidding (Page 15).
2 more points management made on order book & pipeline
Power Grid Corpn — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹11.7K Cr, net profit ₹4.5K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Power Grid Corpn's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q1 FY26 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q4 FY26 earnings call →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
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Frequently Asked Questions
What were Power Grid Corpn Q3 FY26 results?
Power Grid anticipates significant growth driven by India's increasing electricity demand due to data centers, AI, EVs, and industrial expansion, aiming for developed nation status by 2047. - The revised transmission plan (FY27-36) includes a Rs. POWERGRID expects robust growth in earnings and profits driven by a strong project pipeline with Rs 7.9 trillion to Rs 9.1 trillion transmission capex plans until FY36.
What is Power Grid Corpn share price analysis?
Power Grid Corpn currently shows a neutral. The stock trades at a P/E of 15.8 with a market cap of ₹251,395 Cr. Investors should review the full earnings analysis for detailed insights.
Is Power Grid Corpn planning capital expenditure?
Current Capex guidance for FY27 shows an average of Rs.
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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.