MarketFriction

Power Grid Corporation of India Ltd

NSE POWERGRID · BSE 532898 · Power - Transmission
₹254.55 -2.28%
NSE close2026-10-01
52 week range250.00 - 324.95
Market cap₹2,43,211 Cr.
P/E15.3
Nifty 50Nifty 100Nifty 200Nifty 500Nifty EnergyNifty CPSENifty PSENifty Infrastructure No price band Delivery 66.2%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales11,26711,55011,97811,00611,27811,23312,27511,19611,47612,39511,66611,497
Expenses1,5571,3752,0551,4661,6811,7002,0812,0942,4211,7886,3632,066
Operating Profit9,71010,1759,9239,5409,5979,53310,1949,1029,05510,6075,3039,430
OPM %86%88%83%87%85%85%83%81%79%86%45%82%
Other Income263380389302814552366461712463322202
Interest2,3412,4461,9282,0392,4411,9172,3031,9342,1482,1902,1752,023
Depreciation3,2773,2933,2593,2003,2923,2163,1963,1303,2233,3813,2953,128
Profit before tax4,3554,8165,1254,6034,6784,9525,0624,4994,3955,4971554,481
Tax %13%16%19%19%19%22%18%19%19%24%-2,829%20%
Net Profit3,7814,0284,1663,7243,7933,8624,1433,6313,5664,1854,5463,598
EPS in Rs4.074.334.484.004.084.154.453.903.834.504.893.87
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales20,65225,69729,95435,05937,74439,64041,62245,58145,84345,79246,73347,033
Expenses2,4683,2473,9938,1404,8584,7345,7967,0016,5997,01313,90112,639
Operating Profit18,18422,45025,96126,92032,88634,90635,82638,58039,24438,77932,83134,395
OPM %88%87%87%77%87%88%86%85%86%85%70%73%
Other Income6569334,0651,5052,8207694,6922,0891,1382,1203,1931,698
Interest5,0866,2047,3248,7379,5098,1358,0369,6348,7738,7008,4488,536
Depreciation6,1827,7229,23110,54111,60712,03912,87213,33313,09512,90413,03013,028
Profit before tax7,5729,45713,4719,14714,59015,50119,61017,70218,51419,29414,54714,529
Tax %21%21%39%-10%24%22%14%13%16%20%-10%
Net Profit5,9597,4518,20410,03411,05912,03616,82415,41715,57315,52115,92815,896
EPS in Rs6.418.018.8210.7911.8912.9418.0916.5816.7416.6917.1317.09
Dividend Payout %20%31%33%43%47%52%61%67%67%54%53%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth9%3%1%2%
Compounded Profit Growth9%3%-2%3%
Stock Price CAGR10%13%9%-7%
Return on Equity17%18%17%15%
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
Reserves33,20738,73844,63449,19453,85759,46464,70469,27276,03977,84583,36291,193
Borrowings96,243108,545118,988131,503146,376148,270143,232134,696126,661123,516131,030148,071
Other Liabilities26,10226,79726,80939,42541,91643,70642,53940,00840,62740,16842,32646,109
Total Liabilities160,784179,312195,662225,354247,380256,671255,708250,950250,303250,829266,019294,674
Fixed Assets91,191115,094137,678156,198172,740181,112183,726191,773185,437177,761172,320176,531
CWIP53,68145,61138,26437,66937,63135,17724,83812,85413,77218,19733,58543,747
Investments2209191,1651,2241,2961,4311,4863,7883,4894,1633,1172,995
Other Assets15,69317,68818,55530,26435,71338,95145,65942,53647,60450,70856,99871,401
Total Assets160,784179,312195,662225,354247,380256,671255,708250,950250,303250,829266,019294,674
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity15,80015,00821,57522,71023,27130,73929,40326,12438,00537,29036,22240,935
Cash from Investing Activity-24,185-21,576-23,836-25,701-18,727-10,733-9,244753-6,126-13,114-23,532-35,445
Cash from Financing Activity6,3995,6213,9591,285-2,431-18,806-20,521-28,967-29,264-25,903-12,357-4,006
Net Cash Flow-1,986-9481,698-1,7072,1131,199-362-2,0912,615-1,7283331,484
Free Cash Flow-9,178-6,671-2,349-3,47082019,37219,78618,15731,10225,88612,1113,687
CFO/OP114%90%104%96%95%101%90%83%106%104%102%134%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days4648444449497981104926391
Inventory Days
Days Payable
Cash Conversion Cycle4648444449497981104926391
Working Capital Days-356-306-250-220-201-274-187-241-168-134-166-229
ROCE %8%9%10%10%9%11%12%11%13%13%13%9%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters51.34%51.34%51.34%51.34%51.34%51.34%51.34%51.34%51.34%51.34%51.34%51.34%
FIIs32.01%30.51%29.82%28.73%28.26%28.11%26.79%26.50%25.66%24.73%25.02%24.33%
DIIs13.21%14.77%15.26%16.32%16.89%16.99%18.30%18.49%19.33%20.19%20.05%20.62%
Government0.00%0.00%0.00%0.00%0.00%0.04%0.06%0.07%0.07%0.07%0.08%0.08%
Public3.44%3.37%3.58%3.61%3.50%3.50%3.52%3.61%3.60%3.67%3.51%3.63%
No. of Shareholders9,31,3669,61,58511,00,85013,17,07713,29,74113,51,25213,83,98613,88,41713,72,72513,74,80113,35,90913,51,868

Fundamentals

Market Cap₹ 2,43,211 Cr.
Current Price₹ 262
Stock P/E15.3
Book Value₹ 108
ROCE9.10 %
ROE15.3 %
Dividend Yield3.44 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)2%
Compounded Profit Growth (TTM)3%
Consolidated figures.
Valuation
Market capRs 236,747 Cr
Enterprise valueRs 375,897 Cr
P/E (TTM)14.89x
Price to book2.36x
Price to sales5.03x
EV / EBITDA10.41x
EV / EBIT16.30x
EV / sales7.99x
Price to cash flow5.78x
Earnings yield6.71%
Dividend yield3.54%
P/E, 3-year average17.07x
P/B, 3-year average2.87x
P/E, 5-year average13.13x
P/B, 5-year average2.30x
Profitability
Operating margin (excl. other income)70.25%
Operating margin (incl. other income)77.08%
EBITDA margin76.74%
Pre-tax margin30.89%
Net profit margin33.80%
Net margin, latest quarter31.30%
ROE16.49%
ROCE9.74%
ROA5.68%
ROE, 3-year average17.35%
ROCE, 3-year average11.87%
ROA, 3-year average5.97%
ROE, 5-year average18.89%
ROCE, 5-year average12.33%
ROA, 5-year average6.14%
ROIC (approx.)10.54%
Tax rate-9.50%
Other income / net worth3.18%
Growth
Sales growth (latest year)2.05%
Profit growth (latest year)2.62%
Sales CAGR, 3 years0.84%
Sales CAGR, 5 years3.35%
Profit CAGR, 3 years1.09%
Profit CAGR, 5 years5.76%
Sales growth QoQ-1.45%
Profit growth QoQ-20.85%
Sales growth YoY (latest quarter)2.68%
Profit growth YoY (latest quarter)-0.89%
Per share
EPS (TTM)Rs 17.09
EPS (latest year)Rs 17.13
EPS (latest quarter)Rs 3.87
EPS, 3-year averageRs 16.85
EPS, 5-year averageRs 19.36
Book value per shareRs 108.05
Sales per shareRs 50.57
Cash flow per shareRs 44.01
Free cash flow per shareRs 3.96
Dividend per share (latest year)Rs 9.00
Dividend per share, 3-year averageRs 9.75
Dividend per share, 5-year averageRs 11.75
Dividends
Dividend payout52.55%
Dividend payout, 3-year average57.89%
Dividend payout, 5-year average60.31%
Efficiency
Asset turnover0.16x
Fixed asset turnover0.26x
Inventory turnover0.87x
Inventory days422 days
Debtor days91 days
Debtors turnover4.00x
Cash conversion cycle91 days
Working capital days-229 days
Leverage
Total debtRs 148,071 Cr
Cash and bankRs 8,920 Cr
Net debtRs 139,150 Cr
Debt to equity1.47x
Net debt / EBITDA3.86x
Interest coverage2.70x
Current ratio (filing 2026-03-31)0.60x
Quick ratio (filing 2026-03-31)0.56x
Trade payables (filing 2026-03-31)Rs 956 Cr
Owners' fund to total sources34.10%
Debt to assets50.25%
Cash flow
Cash from Operating Activity (latest year)Rs 40,935 Cr
Cash from Investing Activity (latest year)Rs -35,445 Cr
Cash from Financing Activity (latest year)Rs -4,006 Cr
Net Cash Flow (latest year)Rs 1,484 Cr
Free cash flow (latest year)Rs 3,687 Cr
FCFE (approx.: FCF + change in debt)Rs 20,727 Cr
Cash from ops / profit, 5 years2.25x
Sales to cash flow1.14x
Statement figures
Net sales (TTM)Rs 47,033 Cr
Net sales (latest year)Rs 46,733 Cr
Sales (latest quarter)Rs 11,497 Cr
Operating profit excl. other income (latest year)Rs 32,831 Cr
Operating profit (latest quarter)Rs 9,430 Cr
Other income (TTM)Rs 1,698 Cr
EBITDA (TTM)Rs 36,093 Cr
PBDT (TTM)Rs 27,557 Cr
Profit before tax (TTM)Rs 14,529 Cr
Tax (latest year)Rs -1,381 Cr
Net profit (TTM)Rs 15,896 Cr
Net profit (latest year)Rs 15,928 Cr
Net profit (latest quarter)Rs 3,598 Cr
Depreciation (TTM)Rs 13,028 Cr
Depreciation (latest quarter)Rs 3,128 Cr
Interest (TTM)Rs 8,536 Cr
Cost of goods sold (latest year)Rs 1,841 Cr
Total expenditure (latest year)Rs 13,901 Cr
Total income (latest year)Rs 49,925 Cr
Share capitalRs 9,301 Cr
ReservesRs 91,193 Cr
Shareholders' fundsRs 100,494 Cr
Total assetsRs 294,674 Cr
Net blockRs 176,531 Cr
Capital work in progressRs 43,747 Cr
InvestmentsRs 2,995 Cr
ReceivablesRs 11,673 Cr
InventoryRs 2,127 Cr
Other liabilitiesRs 46,109 Cr
Shares outstanding (crore)930.06
Ownership
Promoter holding51.34% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 14.9 is at the 68th percentile of its own 9.4-year range (median 12.1, low 7.7, high 21.1).
P/B 2.36 is at the 69th percentile (median 2.09).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodPOWERGRIDNifty 50Difference
1 week-4.4%-2.8% -1.7 pts
1 month-3.8%-6.8% +3.0 pts
3 months-11.6%-7.6% -4.0 pts
6 months-14.0%+0.4% -14.4 pts
1 year-10.5%-9.9% -0.6 pts
2 years-25.4%-13.6% -11.8 pts
3 years+27.4%+14.2% +13.3 pts
5 years+76.9%+27.9% +49.0 pts
305 mutual fund schemes hold about ₹20,687 Cr. Over three months 68 bought more and 63 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
Parag Parikh Flexi Cap Fund5.58%8,223 +1%
HDFC Flexi Cap Fund2.04%2,316 -4%
ICICI Pru Large Cap Fund0.93%747 +3%
Kotak Flexi Cap Fund0.94%527 +3%
Kotak Flexi Cap Fund0.94%525 +3%
SBI PSU Fund7.11%477 -6%
SBI Balanced Advantage Fund1.03%434 +3%
Aditya Birla SL PSU Equity Fund6.13%372 +3%
Parag Parikh ELSS Tax Saver Fund6.41%360 +4%
UTI Nifty 50 Index Fund1.08%319 +4%
HDFC Nifty 50 Index Fund1.08%262 +4%
Kotak Large & Mid Cap Fund0.61%198 -37%
Tata Value Fund(Div Trig Opt B-10%)Pay2.22%192 +0%
ICICI Pru Nifty 50 Index Fund1.08%188 +4%
ICICI Pru Nifty 50 Index Fund1.08%187 +4%
UTI Value Fund1.79%171 +8%
Kotak Arbitrage Fund(M0.23%170 -19%
HDFC ELSS-Tax Saver Fund1.03%165 -42%
SBI Nifty Index Fund1.08%151 +4%
ICICI Pru PSU Equity Fund7.60%141 +13%
SBI Arbitrage Fund0.30%140 +4%
UTI Large & Mid Cap Fund2.13%139 -1%
Kotak Balanced Advantage Fund0.69%120 -5%
HDFC Retirement Fund-Equity Plan1.70%119 +2%
ICICI Pru Arbitrage Fund0.33%113 +14%

Red flags

F-score 4 of 8
explainReceivables outrunning sales Receivables grew 47% vs sales +2% in 2026
lookAuditor change Auditor change 2026-09-08: Power Grid Corporation of India Limited has informed the Exchange regarding Change in Auditors of the company.
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹11,497 Cr +2.7% vs Jun 2025. Net profit ₹3,598 Cr -0.9%.

Activity

Compare
CompanyMcap (Cr)P/EROCE
IndiGrid Infrastructure Trust19,58634.77.99 %
Powergrid Infrastructure Investment Trust9,28510.211.6 %
Anzen India Energy Yield Plus Trust3,17495.73.28 %
No bulk or block deals on record.
Ex-dateActionFactor
2026-08-13Dividend - Rs 1.25 Per Share
2026-02-09Interim Dividend - Rs 3.25 Per Share
2025-11-10Interim Dividend - Rs 4.50 Per Share
2025-08-19Dividend - Rs 1.25 Per Share
2025-02-07Interim Dividend - Rs 3.25 Per Share
2024-11-14Interim Dividend - Rs 4.50 Per Share
2024-08-16Annual General Meeting/Dividend - Rs 2.75 Per Share
2024-02-15Interim Dividend - Rs 4.50 Per Share
2023-11-16Interim Dividend - Rs 4 Per Share
2023-09-12Bonus 1:30.7500
2023-08-08Dividend - Rs 4.75 Per Share
2023-02-08Interim Dividend - Rs 5 Per Share
2022-11-14Interim Dividend - Rs 5 Per Share
2022-08-19Annual General Meeting/Dividend - Rs 2.25 Per Share
2022-02-16Interim Dividend - Rs 5.50 Per Share
2021-12-22Interim Dividend - Rs 4 Per Share/ Special Dividend - Rs 3 Per Share
2021-09-08 Annual General Meeting/Dividend - Rs 3 Per Share
2021-07-29 Bonus 1:30.7500
2021-03-08 Interim Dividend - Rs 4 Per Share
2020-12-17 Interim Dividend - Rs 5 Per Share
2020-09-02 Annual General Meeting/Dividend - Rs 4.04 Per Share
2020-03-16 Interim Dividend - Rs 5.96 Per Share
2019-08-19 Annual General Meeting/Dividend - Rs 2.50 Per Share
2019-03-14 Interim Dividend - Rs 5.83 Per Share
2018-09-10 Annual General Meeting/Dividend Rs 2.80 Per Share
2018-02-08 Interim Dividend Rs 2.45 Per Share (Purpose Revised)
2017-09-11 Dividend - Rs 3.35 Per Share
2017-02-16 Interim Dividend Re 1/- Per Share (Purpose Revised)
2016-09-08 Dividend - Rs 1.51 Per Share
2016-02-03 Interim Dividend - Re 0.80/- Per Share (Purpose Revised)
2015-09-07 Annual General Meeting/ Dividend - Rs 1.31/- Per Share
2015-03-09Interim Dividend - Re 0.69/- Per Share (Purpose Revised)
2014-09-04Annual General Meeting / Final Dividend - Rs 1.31/- Per Share
2014-03-04Interim Dividend Rs.1.27 Per Share(Purpose Revised)
2013-09-05Annual General Meeting / Dividend - Rs 1.14 Per Share
2013-02-15Interim Dividend Rs 1.61 Per Share (Purpose Revised)
2012-09-05Annual General Meeting/Dividend Re 1.31 Per Share
2012-02-13Interim Dividend Re.0.80 Per Share (Purpose Revised)
2011-09-06Dividend-Rs.1.25 Per Share
2011-02-11Interim Dividend-Re.0.50 Per Share (Purpose Revised)
2010-09-07Annual General Meeting And Dividend Re.1/- Per Share
2010-01-11Int Div-Re.0.50 Per Sharepurpose Revised
2009-08-21Dividend-Re.0.70 Pr Share
2009-02-04Interim Dividend - 5% Purpose Revised
2008-09-01Agm/Dividend - 7%
2008-03-10Interim Dividend - 5% Purpose Revised
DateTypeWhat it says
2026-09-30Change in ManagementChange in Senior Management
2026-09-30AppointmentAppointment of Mr Akhilesh Pathak as Director (Projects) of the company w.e.f. September 30, 2026.
2026-09-30Board meeting outcomeOutcome of Board Meeting held on September 30, 2026.
2026-09-26Board meeting outcomeOutcome of Board Meeting held on September 26, 2026.
2026-09-26General UpdatesPOWERGRID declared as successful bidder under TBCB
2026-09-23AcquisitionAcquisition of Barmer HVDC Power Transmission Limited by POWERGRID under TBCB route.
2026-09-18Board meeting outcomeOutcome of Board Meeting held on September 18, 2026 for Raising of Funds by way of issuance of Unsecured, Non-convertible, Non-cumulative, Redeemable...
2026-09-08Change in AuditorsChange in Auditors of the company.
2026-09-03General UpdatesPOWERGRID declared as successful bidder under TBCB.
2026-09-02General UpdatesPOWERGRID declared as successful bidder under TBCB
2026-08-31Change in ManagementChange in Senior Management (Cessation).
2026-08-28AcquisitionAcquisition of Fatehgarh II Transmission Limited by POWERGRID under TBCB route.
2026-08-26General UpdatesDisclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-08-21Shareholder meetingVoting results.
2026-08-21General UpdatesPOWERGRID declared as successful bidder under TBCB.
2026-08-20Shareholder meetingProceedings of Annual General Meeting held on August 20, 2026
2026-08-20CessationCessation of Mr Venkata Subrahamanayam Vallurie as Chief Financial Officer of the company w.e.f. August 20, 2026.
2026-08-20Board meeting outcomeOutcome of Board Meeting held on August 20, 2026.
2026-08-18AppointmentAppointment of Mr Amol Babulal Taori as Director (Finance) of the company w.e.f. August 18, 2026.
2026-08-18Board meeting outcomeOutcome of Board Meeting held on August 18, 2026.
2026-08-14Concall / analyst meetTranscript
2026-08-12General UpdatesDisclosure under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-08-07Concall / analyst meetLink of Recording
2026-08-07Investor PresentationInvestor Presentation
2026-08-05General UpdatesInvestment approval by Committee of Directors on Investment on Projects of POWERGRID
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
Put / call open interest0.66
Max pain (expiry 2026-10-27)265
Largest call open interest at270
Largest put open interest at270
Implied volatility, at the money20.2%
Underlying at snapshot254.55
Open interest by strike around the price, nearest expiry. End-of-day NSE snapshot, 01-Oct-2026 15:40:00. Max pain is the strike where option buyers together would lose the most at expiry.
Trade dateShares sold short
2026-09-303,191
2026-09-2926,079
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Order dateForumCase
2021-05-21NCLATC & C Construction Ltd. Through Navneet Kumar Gupta, (RP) VS Power Grid Corporation of India Ltd.
2021-04-13NCLATPower Grid Corporation of India Ltd VS Summit Binani
2021-03-04NCLATPower Grid Corporation of India Ltd VS Summit Binani
2021-01-06NCLATPower Grid Corporation of India Ltd VS Summit Binani
2020-11-26NCLATPower Grid Corporation of India Ltd VS Summit Binani
2020-11-05NCLATC & C Construction Ltd. Through Navneet Kumar Gupta, (RP) VS Power Grid Corporation of India Ltd.
Orders from NCLT, NCLAT and CESTAT naming the company. Click a row for the order.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Power Grid Corporation of India Ltd?

Power Grid Corporation of India Ltd (POWERGRID) has a market capitalisation of Rs 2,43,211 Cr. at the 2026-10-01 close.

What is the P/E ratio of Power Grid Corporation of India Ltd?

Power Grid Corporation of India Ltd trades at a P/E of 15.3 on trailing twelve-month profit, at the 2026-10-01 close.

What were Power Grid Corporation of India Ltd's latest quarterly results?

In the Jun 2026 quarter, Power Grid Corporation of India Ltd sales was Rs 11,497 Cr (+2.7% vs Jun 2025) and net profit was Rs 3,598 Cr.

What is the 52-week high and low of Power Grid Corporation of India Ltd?

The 52-week high is Rs 324.95 and the 52-week low is Rs 250.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03