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 ₹ 8,395 Cr.
- Current Price ₹ 92.3
- High / Low ₹ 98.5 / 81.0
- Stock P/E 9.21
- Book Value ₹ 82.9
- Dividend Yield 13.0 %
- ROCE 11.7 %
- ROE 12.0 %
- Face Value ₹ 100
Pros
- Stock is trading at 1.11 times its book value
- Company has been maintaining a healthy dividend payout of 110%
Cons
- Promoter holding is low: 15.0%
- Tax rate seems low
- Company has a low return on equity of 13.2% 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 | Mar 2026 | |
|---|---|---|---|---|---|
| 1,217 | 1,286 | 1,265 | 1,266 | 1,258 | |
| 446 | 1,599 | -161 | -419 | -35 | |
| Operating Profit | 771 | -313 | 1,427 | 1,686 | 1,293 |
| OPM % | 63% | -24% | 113% | 133% | 103% |
| 26 | 30 | 31 | 39 | 39 | |
| Interest | 0 | 41 | 47 | 56 | 74 |
| Depreciation | 270 | 315 | 315 | 317 | 317 |
| Profit before tax | 528 | -640 | 1,095 | 1,352 | 940 |
| Tax % | 12% | -30% | 10% | 13% | 3% |
| 463 | -446 | 982 | 1,172 | 912 | |
| EPS in Rs | 5.57 | -2.14 | 10.18 | 12.92 | 10.02 |
| Dividend Payout % | 189% | -700% | 118% | 93% | 120% |
| Compounded Sales Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | -1% |
| TTM: | -1% |
| Compounded Profit Growth | |
|---|---|
| 10 Years: | % |
| 5 Years: | % |
| 3 Years: | 88% |
| TTM: | -22% |
| Stock Price CAGR | |
|---|---|
| 10 Years: | % |
| 5 Years: | -4% |
| 3 Years: | -9% |
| 1 Year: | 9% |
| Return on Equity | |
|---|---|
| 10 Years: | % |
| 5 Years: | 8% |
| 3 Years: | 13% |
| Last Year: | 12% |
Balance Sheet
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Equity Capital | 9,100 | 9,100 | 9,100 | 9,100 | 9,100 |
| Reserves | -106 | -1,394 | -1,559 | -1,379 | -1,559 |
| 575 | 572 | 569 | 1,072 | 1,064 | |
| 2,286 | 1,765 | 1,872 | 1,394 | 1,403 | |
| Total Liabilities | 11,854 | 10,043 | 9,983 | 10,187 | 10,008 |
| 10,892 | 9,074 | 9,042 | 9,235 | 9,047 | |
| CWIP | 4 | 15 | 7 | 10 | 16 |
| Investments | 0 | 0 | 0 | 0 | 0 |
| 958 | 955 | 933 | 942 | 944 | |
| Total Assets | 11,854 | 10,043 | 9,983 | 10,187 | 10,008 |
Cash Flows
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| 1,164 | 1,181 | 1,230 | 1,215 | 1,176 | |
| -629 | -154 | 10 | -531 | 13 | |
| -224 | -1,195 | -1,182 | -674 | -1,174 | |
| Net Cash Flow | 311 | -168 | 58 | 9 | 15 |
| Free Cash Flow | 855 | 1,163 | 1,206 | 1,211 | 1,162 |
| CFO/OP | 152% | -389% | 86% | 72% | 93% |
Ratios
Consolidated Figures in Rs. Crores / View Standalone
| Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|
| Debtor Days | 100 | 93 | 78 | 64 | 54 |
| Inventory Days | |||||
| Days Payable | |||||
| Cash Conversion Cycle | 100 | 93 | 78 | 64 | 54 |
| Working Capital Days | 107 | 99 | 85 | 72 | 61 |
| ROCE % | -6% | 13% | 16% | 12% |
Insights
In beta| Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Sep 2025 | |
|---|---|---|---|---|---|
| Transformation Capacity MVA |
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| Transmission Line Length ckm |
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| Average System Availability % |
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| Average Collection Period days |
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| Average Remaining Life of TSA years |
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| Number of Unitholders count |
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| Collection Efficiency % |
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Extracted by Screener AI
Documents
Announcements
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Reg 23(5)(i): Disclosure of material issue
1h - FY26 secretarial compliance report filed; no deviations, with past POWERGRID fines/waivers noted.
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Reg 23(5)(i): Disclosure of material issue
2d - Posted transcript of PGInvIT Q4 and FY26 earnings conference call, including ₹3 per unit Q4 distribution.
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Reg 23(5)(i): Disclosure of material issue
19 May - Audio recording of Q4 and FY26 earnings conference call available on PGInvIT website.
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Reg 23(5)(i): Disclosure of material issue
19 May - PGInvIT released investor presentation for Q4 and FY26 financial results on May 19, 2026.
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Reg 18(6): Disclosure of record date for purpose of distribution
15 May - Board approved FY26 audited results, Rs.3.00/unit distribution, NAV Rs.90.79; record date May 20, 2026.
Annual reports
Concalls
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May 2026TranscriptAI SummaryPPT
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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]