Powergrid Infrastructure Investment Trust
Powergrid InvIT (Infrastructure Investment Trust) owns, constructs, operates, maintains, and invests in power transmission assets in India. Powergrid InvIT registered with SEBI as an InvIT on January 7, 2021.[1]
- Market Cap ₹ 9,218 Cr.
- Current Price ₹ 101
- High / Low ₹ 101 / 85.5
- Stock P/E 11.5
- Book Value ₹ 90.8
- Dividend Yield 11.8 %
- ROCE 9.24 %
- ROE 9.50 %
- Face Value ₹ 100
Pros
- Stock is trading at 1.12 times its book value
- Company has been maintaining a healthy dividend payout of 100%
Cons
- Promoter holding is low: 15.0%
- Tax rate seems low
* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.
Peer comparison
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 344 | 977 | 1,324 | 973 | 1,049 | 945 | 885 | 953 | |
| 14 | 34 | 38 | 195 | 1,287 | -120 | -1,054 | 84 | |
| Operating Profit | 330 | 943 | 1,286 | 778 | -238 | 1,065 | 1,939 | 869 |
| OPM % | 96% | 97% | 97% | 80% | -23% | 113% | 219% | 91% |
| 8 | 8 | 10 | 3 | 6 | 8 | 7 | 7 | |
| Interest | 116 | 328 | 429 | 0 | 41 | 47 | 56 | 74 |
| Depreciation | 93 | 275 | 379 | 0 | 0 | 0 | 0 | 0 |
| Profit before tax | 129 | 348 | 487 | 781 | -274 | 1,026 | 1,890 | 802 |
| Tax % | 11% | 29% | 22% | 0% | 1% | 0% | 0% | 0% |
| 114 | 248 | 379 | 780 | -276 | 1,023 | 1,887 | 799 | |
| EPS in Rs | 25.80 | 24.84 | 31.55 | 8.57 | -3.03 | 11.24 | 20.74 | 8.78 |
| Dividend Payout % | 29% | 48% | 110% | 123% | -494% | 107% | 58% | 137% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -3% |
| TTM: | 8% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 70% |
| TTM: | -58% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | -3% |
| 3 Years: | -5% |
| 1 Year: | 9% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 10% |
| 3 Years: | 15% |
| Last Year: | 10% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Equity Capital | 442 | 999 | 1,201 | 9,100 | 9,100 | 9,100 | 9,100 | 9,100 |
| Reserves | 71 | 220 | 333 | 97 | -1,271 | -1,340 | -544 | -838 |
| 5,347 | 5,577 | 5,177 | 575 | 572 | 569 | 1,072 | 1,064 | |
| 645 | 205 | 111 | 1 | 0 | 0 | 0 | 1 | |
| Total Liabilities | 6,505 | 7,000 | 6,821 | 9,773 | 8,401 | 8,330 | 9,628 | 9,327 |
| 1,779 | 6,704 | 6,437 | 0 | 0 | 0 | 0 | 0 | |
| CWIP | 4,548 | 9 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | 0 | 0 | 0 | 4,254 | 2,978 | 3,109 | 4,682 | 4,611 |
| 178 | 288 | 384 | 5,519 | 5,424 | 5,221 | 4,946 | 4,716 | |
| Total Assets | 6,505 | 7,000 | 6,821 | 9,773 | 8,401 | 8,330 | 9,628 | 9,327 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| 1,052 | -12 | -13 | -14 | -25 | -15 | |||
| -107 | -4,594 | 1,160 | 1,161 | 584 | 1,203 | |||
| -908 | 4,886 | -1,136 | -1,142 | -645 | -1,174 | |||
| Net Cash Flow | 37 | 280 | 11 | 6 | -86 | 13 | ||
| Free Cash Flow | 945 | -12 | -13 | -14 | -25 | -15 | ||
| CFO/OP | 89% | -1% | 4% | -1% | -1% | -1% |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2018 | Mar 2019 | Mar 2020 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|
| Debtor Days | 54 | 44 | 48 | 0 | 0 | 0 | 0 | 0 |
| Inventory Days | ||||||||
| Days Payable | ||||||||
| Cash Conversion Cycle | 54 | 44 | 48 | 0 | 0 | 0 | 0 | 0 |
| Working Capital Days | -695 | -60 | -135 | -1 | -1 | -1 | -3 | -3 |
| ROCE % | 11% | 14% | -3% | 13% | 22% | 9% |
Insights
In beta| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Distribution per Unit (DPU) INR/unit |
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| Average Transmission Availability (Portfolio) % |
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| Average TSA Residual Life (Weighted) years |
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| Number of Unitholders count |
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| Transformation Capacity MVA |
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| Transmission Line Length ckm |
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Extracted by Screener AI
Documents
Announcements
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Reg 18(6): Disclosure of record date for purpose of distribution
22 Jul - Board meets July 28, 2026 for Q1 results and distribution; record date July 31, 2026.
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Reg 23(5)(i): Disclosure of material issue
22 Jul - Board meeting on July 28, 2026 to approve Q1 FY27 results and possible distribution; record date July 31.
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Unit Holding Pattern
13 Jul - PGInvIT disclosed unitholding pattern for quarter ended June 30, 2026.
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Investor Complaints
9 Jul - Q1 FY27 investor complaint report: 1 received, 1 resolved, 0 pending.
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Reg 23(5)(i): Disclosure of material issue
8 Jul - Smt. Anita Soren appointed Independent Director on POWERGRID Unchahar Transmission Limited board effective July 8, 2026.
Annual reports
Concalls
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May 2026Transcript PPT
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Feb 2026Transcript PPT REC
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Nov 2025Transcript PPT REC
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Aug 2025Transcript PPT REC
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May 2025TranscriptPPTREC
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Mar 2025TranscriptAI SummaryPPT
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Nov 2024TranscriptPPT REC
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Oct 2024TranscriptPPT
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Jul 2024TranscriptAI SummaryPPT
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May 2024Transcript PPT
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Feb 2024Transcript PPT REC
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Nov 2023Transcript PPT REC
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Aug 2023TranscriptPPT REC
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May 2023TranscriptPPT REC
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Jan 2023TranscriptPPT REC
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Nov 2022TranscriptPPT REC
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Jul 2022TranscriptPPT REC
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May 2022TranscriptPPT REC
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Jan 2022TranscriptPPT REC
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Nov 2021TranscriptPPT REC
India’s 1st PSU InvIT
It is sponsored by Power Grid Corporation India Ltd and is also responsible for managing the InvIT, providing the initial portfolio assets, and undertaking investment decisions related to its assets. [1]
IDBI Trusteeship Services Limited is the debenture trustee, responsible for ensuring the necessary compliance with InvIT Regulations and monitoring the activities of the Investment Manager and Project Manager. [2]