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 ₹ 8,554 Cr.
- Current Price ₹ 94.0
- High / Low ₹ 98.5 / 75.0
- Stock P/E 6.35
- Book Value ₹ 84.0
- Dividend Yield 6.36 %
- ROCE 16.0 %
- ROE 15.4 %
- Face Value ₹ 100
Pros
- Stock is trading at 1.12 times its book value
Cons
- Promoter holding is low: 15.0%
- Company has a low return on equity of 8.10% over last 3 years.
* 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
Consolidated Figures in Rs. Crores / View Standalone
Profit & Loss
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM | |
|---|---|---|---|---|---|
| 1,217 | 1,286 | 1,265 | 1,266 | 1,261 | |
| 446 | 1,599 | -161 | -419 | -701 | |
| Operating Profit | 771 | -313 | 1,427 | 1,686 | 1,962 |
| OPM % | 63% | -24% | 113% | 133% | 156% |
| 26 | 30 | 31 | 39 | 40 | |
| Interest | 0 | 41 | 47 | 56 | 71 |
| Depreciation | 270 | 315 | 315 | 317 | 317 |
| Profit before tax | 528 | -640 | 1,095 | 1,352 | 1,614 |
| Tax % | 12% | -30% | 10% | 13% | |
| 463 | -446 | 982 | 1,172 | 1,361 | |
| EPS in Rs | 5.57 | -2.14 | 10.18 | 12.92 | 14.87 |
| Dividend Payout % | 189% | -700% | 118% | 93% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 1% |
| TTM: | -1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 32% |
| TTM: | 82% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -10% |
| 1 Year: | 8% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 8% |
| Last Year: | 15% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Sep 2025 | |
|---|---|---|---|---|---|
| Equity Capital | 9,100 | 9,100 | 9,100 | 9,100 | 9,100 |
| Reserves | -106 | -1,394 | -1,559 | -1,379 | -1,455 |
| 575 | 572 | 569 | 1,072 | 1,068 | |
| 2,286 | 1,765 | 1,872 | 1,394 | 1,435 | |
| Total Liabilities | 11,854 | 10,043 | 9,983 | 10,187 | 10,148 |
| 10,892 | 9,074 | 9,042 | 9,235 | 9,192 | |
| CWIP | 4 | 15 | 7 | 10 | 4 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| 958 | 955 | 933 | 942 | 951 | |
| Total Assets | 11,854 | 10,043 | 9,983 | 10,187 | 10,148 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| 1,164 | 1,181 | 1,230 | 1,215 | |
| -629 | -154 | 10 | -531 | |
| -224 | -1,195 | -1,182 | -674 | |
| Net Cash Flow | 311 | -168 | 58 | 9 |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
|---|---|---|---|---|
| Debtor Days | 100 | 93 | 78 | 64 |
| Inventory Days | ||||
| Days Payable | ||||
| Cash Conversion Cycle | 100 | 93 | 78 | 64 |
| Working Capital Days | 107 | 99 | 85 | 72 |
| ROCE % | -6% | 13% | 16% |
Documents
Announcements
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Reg 23(5)(i): Disclosure of material issue
20 Nov - Annexure to PGInvIT Q2/H1 FY2025-26 results; H1 distribution ₹6.00/unit; net worth ₹76,452.35 million.
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Reg 23(5)(i): Disclosure of material issue
12 Nov - Q2 FY26 earnings call; ₹3/unit distribution payable by Nov 17; ₹12 FY26 target; in-principle ₹500 crore TBCB consortium.
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Reg 23(5)(i): Disclosure of material issue
7 Nov - Audio recording of Q2 & H1 FY26 earnings call available on PGInvIT website (07 Nov 2025).
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Reg 23(5)(i): Disclosure of material issue
7 Nov - Q2/H1 FY26 investor presentation: total income ₹3,267m (Q2), H1 ₹6,517m; DPU guidance ₹12/unit; availability >98%
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Reg 23(5)(i): Disclosure of material issue
4 Nov - Half-year report to Sep 30, 2025: revenue ₹6,517m, NDCF ₹5,531m, distributions ₹5,460m, DPU guidance ₹12.
Annual reports
Concalls
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Nov 2025TranscriptAI SummaryPPT 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 2024TranscriptAI SummaryPPT 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 2023TranscriptAI SummaryPPT REC
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May 2023TranscriptAI SummaryPPT REC
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Jan 2023TranscriptAI SummaryPPT REC
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Nov 2022TranscriptAI SummaryPPT REC
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Jul 2022TranscriptAI SummaryPPT REC
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May 2022TranscriptAI SummaryPPT REC
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Jan 2022TranscriptAI SummaryPPT REC
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Nov 2021TranscriptAI SummaryPPT 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]