Arthneeti

Power Grid Corporation of India Q1 FY27 Share Price & Earnings Call Analysis

₹260.00+3.42% today
Market cap
₹2.42L Cr
P/E
15.21
ROE
15.26%
PEG
-8.85
Price to sales
5.14
Debt to equity
1.47
52W high / low
₹321 / ₹245
Sales growth (5Y)
3.35%
EBITDA margin
73.13%
Net profit margin
31.54%
Promoter holding
51.34%
Sales (last year)
₹47,033 Cr

Power Grid Corporation of India Limited is a Maharatna CPSU and India’s largest electric power transmission company. GoI holds a 51.34% stake in the company as on March 31, 2021. PGCIL was incorporated in 1989 to set up extra-high voltage alternating current and high-voltage direct current (HVDC) transmission lines.

Guidance scorecard · Q1 FY27 call

What Power Grid Corpn's management guided
and where it ranks in Power

#16of 24 in
Power
Revenue10–20%MarginsFlatCapexPlannedFundraisingWhat management saidOrder bookRising

RevenueQ1 FY27 call

10–20%
  • POWERGRID expects significant growth driven largely by Transmission-Based Competitive Bidding (TBCB) projects, with equity investments in operational TBCB projects rising from Rs. 4,671 crore to Rs. 9,965 crore.
  • New awards this year total Rs. 2,200 crore in annual revenues, indicating a robust project inflow.
  • The government plans Rs. 7.9 lakh crore capex by 2036 for transmission to support non-fossil fuel capacity; this is expected to be bid out over the next 3-4 years.
  • Operational revenues start accruing once assets are commissioned, unaffected by power flow or generation timing.
  • Tariff and revenue models are mostly rupees per annum, not linked to actual energy transmitted, ensuring stable revenue.

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

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Full Q1 FY27 analysis

MarginsQ1 FY27 call

Flat

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

Full Q1 FY27 analysis

CapexQ1 FY27 call

Planned
  • The government has estimated a massive capex of Rs. 7.9 lakh crore in the transmission sector by 2036 to support non-fossil fuel capacity addition.
  • This Rs. 7.9 lakh crore capex is expected to be bid out over the next 3 to 4 years to ensure system readiness by 2035-36, considering 2-3 years of construction time.
  • The current immediate capex stands at Rs. 1.19 lakh crore, which is part of the overall Rs. 7.9 lakh crore.
  • POWERGRID is capitalizing on opportunities in growth areas like green hydrogen, data centers, and renewable energy projects.
  • Internal accruals are being used to fund equity investments in operational and under-construction TBCB projects, totaling Rs. 13,000 crore so far.

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

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Full Q1 FY27 analysis

FundraisingQ1 FY27 call

See what Power Grid Corpn said on fundraising — free account, 30 seconds.

Full Q1 FY27 analysis

Order bookQ1 FY27 call

Rising
  • Transmission lines commissioned in Q1 FY27: 1,635 circuit kilometers (~35% of last year's achievement).
  • Transformation capacity added: Approx. 10,500 MVA.
  • Capital work in progress increased from Rs. 41,610 crore to Rs. 50,419 crore, indicating ongoing projects.
  • The company is actively bidding for projects such as the Rajasthan Phase IV Barmer Complex HVDC project, with bids submitted and evaluations ongoing.

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

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Full Q1 FY27 analysis
Full Power ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Power
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does Power Grid Corpn rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Power companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹1,624 Cr8.3
240%+Flat₹28,982 Cr48.7
340%+Flat₹15,130 Cr573.5
440%+Flat₹15,007 Cr95.7
520–40%Flat₹3.78L Cr26.5
620–40%Flat₹1.95L Cr100.7

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Power Grid Corpn announcements

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Financials of Power Grid Corpn

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Financials of Power Grid Corpn

Quarterly Results

Quarter-by-quarter operating performance

Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales +12,26411,04811,26711,55011,97811,00611,27811,23312,27511,19611,47612,39511,666
Expenses +1,4331,7161,5571,3752,0551,4661,6811,7002,0812,0942,4211,7886,363
Operating Profit10,8319,3329,71010,1759,9239,5409,5979,53310,1949,1029,05510,6075,303
OPM %88%84%86%88%83%87%85%85%83%81%79%86%45%
Other Income +294209263380389302814552366461712463322
Interest2,4752,0572,3412,4461,9282,0392,4411,9172,3031,9342,1482,1902,175
Depreciation3,3143,2663,2773,2933,2593,2003,2923,2163,1963,1303,2233,3813,295
Profit before tax5,3354,2184,3554,8165,1254,6034,6784,9525,0624,4994,3955,497155
Tax %19%15%13%16%19%19%19%22%18%19%19%24%-2,829%
Net Profit +4,3233,5973,7814,0284,1663,7243,7933,8624,1433,6313,5664,1854,546
EPS in Rs4.653.874.074.334.484.004.084.154.453.903.834.504.89

Financials of Power Grid Corpn

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales +17,54020,65225,69729,95435,05937,74439,64041,62245,60345,84345,79246,733
Expenses +2,6132,4683,2473,9938,1404,8584,7345,7966,0286,5996,95511,661
Operating Profit14,92718,18422,45025,96126,92032,88634,90635,82639,57639,24438,83735,072
OPM %85%88%87%87%77%87%88%86%87%86%85%75%
Other Income +7316569334,0651,5052,8207694,6921,0931,1382,061952
Interest4,0815,0866,2047,3248,7379,5098,1358,0369,6348,7738,7008,448
Depreciation5,1736,1827,7229,23110,54111,60712,03912,87213,33313,09512,90413,030
Profit before tax6,4047,5729,45713,4719,14714,59015,50119,61017,70218,51419,29414,547
Tax %21%21%21%39%-10%24%22%14%13%16%20%-10%
Net Profit +5,0465,9597,4518,20410,03411,05912,03616,82415,42015,57315,52115,928
EPS in Rs5.436.418.018.8210.7911.8912.9418.0916.5816.7416.6917.13
Dividend Payout %21%20%31%33%43%47%52%61%67%67%54%79%

Financials of Power Grid Corpn

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital5,2325,2325,2325,2325,2325,2325,2326,9756,9759,3019,3019,301
Reserves33,20738,73844,63449,19453,85759,46464,70469,27276,05177,84583,36291,193
Borrowings +96,243108,545118,988131,503146,376148,270143,232134,696128,584123,516131,030148,071
Other Liabilities +26,10226,79726,80939,42541,91643,70642,53940,00840,61540,16842,32646,163
Total Liabilities160,784179,312195,662225,354247,380256,671255,708250,950252,225250,829266,019294,727
Fixed Assets +91,191115,094137,678156,198172,740181,112183,726191,773185,437177,761172,320176,623
CWIP53,68145,61138,26437,66937,63135,17724,83812,85413,77218,19733,58543,654
Investments2209191,1651,2241,2961,4311,4863,7883,4894,1633,1172,995
Other Assets +15,69317,68818,55530,26435,71338,95145,65942,53649,52750,70856,99871,455
Total Assets160,784179,312195,662225,354247,380256,671255,708250,950252,225250,829266,019294,727

Financials of Power Grid Corpn

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +15,80015,00821,57522,71023,27130,73929,40326,12440,20337,29036,22340,931
Cash from Investing Activity +-24,185-21,576-23,836-25,701-18,727-10,733-9,244753-7,138-13,114-23,533-35,305
Cash from Financing Activity +6,3995,6213,9591,285-2,431-18,806-20,521-28,967-30,450-25,903-12,357-4,006
Net Cash Flow-1,986-9481,698-1,7072,1131,199-362-2,0912,615-1,7283331,619
Free Cash Flow-9,178-6,671-2,349-3,47082019,37219,78618,15731,96025,88612,1123,682
CFO/OP114%90%104%96%95%101%90%83%109%104%101%126%

Financials of Power Grid Corpn

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days4648444449497981119926391
Inventory Days
Days Payable
Cash Conversion Cycle4648444449497981119926391
Working Capital Days-356-306-250-220-201-274-187-241-174-134-166-227
ROCE %8%9%10%10%9%11%12%11%13%13%13%10%

Guidance history

How Power Grid Corpn's guidance has moved, call by call

CallRevenueMarginsCapexFundraisingOrder book
Q1 FY27 call →10–20%FlatPlanned—Rising
Q4 FY26 call →10–20%FlatPlanned—Rising
Q4 FY26 call →10–20%—PlannedPlanned—
Q3 FY26 call →10–20%FlatPlannedPlanned—

What management guided on each call, newest first. Not investment advice, and not a forecast of returns.

17out of 100

Momentum score · price trend

17 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−12.8%46%
Last 6 months−21.5%18%
Last 3 months−11.1%40%

The price is 29.8% below its all-time high of ₹358.25 (2 Aug 2024). Stocks more than 20% below their peak have their score halved, so 33 became 17.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For Power Grid Corpn: 0.4 × 46 + 0.4 × 18 + 0.2 × 40 = 33, halved to 17 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 28 Oct 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

Continue your research

What Power Grid Corpn's management said in earlier quarters

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