Power Grid Corporation of India Ltd

Power Grid Corpn Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Power Grid Corporation of India Ltd

₹ 299 0.73%
19 May 4:01 p.m.
powergrid.in BSE: 532898 NSE: POWERGRID
About

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.

The company moves large blocks of power from the central generating agencies and areas that have surplus power to load centres within and across regions. It is under the administrative control of the Ministry of Power, GoI.

PGCIL also executes several strategically important projects, assigned to the company by GoI on nomination basis. Power Grid Corporation of India is principally engaged in planning, implementation, operation and maintenance of Inter-State Transmission System (ISTS), Telecom and consultancy services.

Key Points

Business Segments Q1 FY25

Website BSE NSE
  • Market Cap ₹ 2,77,810 Cr.
  • Current Price ₹ 299
  • High / Low ₹ 325 / 250
  • Stock P/E 17.4
  • Book Value ₹ 108
  • Dividend Yield 3.01 %
  • ROCE 9.74 %
  • ROE 16.5 %
  • Face Value ₹ 10.0
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Pros

  • Stock is providing a good dividend yield of 3.01%.
  • Company has been maintaining a healthy dividend payout of 66.6%

Cons

  • Stock is trading at 2.76 times its book value
  • The company has delivered a poor sales growth of 3.35% over past five years.
  • Tax rate seems low
  • Company might be capitalizing the interest cost

* 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

Utilities Power Power Power - Transmission

Part of BSE Sensex Nifty 50 BSE 500 BSE 100 BSE 200

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
12,264 11,048 11,267 11,550 11,978 11,006 11,278 11,233 12,275 11,196 11,476 12,395 11,666
1,433 1,716 1,557 1,375 2,055 1,466 1,681 1,700 2,081 2,094 2,421 1,788 6,363
Operating Profit 10,831 9,332 9,710 10,175 9,923 9,540 9,597 9,533 10,194 9,102 9,055 10,607 5,303
OPM % 88% 84% 86% 88% 83% 87% 85% 85% 83% 81% 79% 86% 45%
294 209 263 380 389 302 814 552 366 461 712 463 322
Interest 2,475 2,057 2,341 2,446 1,928 2,039 2,441 1,917 2,303 1,934 2,148 2,190 2,175
Depreciation 3,314 3,266 3,277 3,293 3,259 3,200 3,292 3,216 3,196 3,130 3,223 3,381 3,295
Profit before tax 5,335 4,218 4,355 4,816 5,125 4,603 4,678 4,952 5,062 4,499 4,395 5,497 155
Tax % 19% 15% 13% 16% 19% 19% 19% 22% 18% 19% 19% 24% -2,829%
4,323 3,597 3,781 4,028 4,166 3,724 3,793 3,862 4,143 3,631 3,566 4,185 4,546
EPS in Rs 4.65 3.87 4.07 4.33 4.48 4.00 4.08 4.15 4.45 3.90 3.83 4.50 4.89
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
17,540 20,652 25,697 29,954 35,059 37,744 39,640 41,622 45,603 45,843 45,792 46,733
2,613 2,468 3,247 3,993 8,140 4,858 4,734 5,796 6,028 6,599 6,955 11,661
Operating Profit 14,927 18,184 22,450 25,961 26,920 32,886 34,906 35,826 39,576 39,244 38,837 35,072
OPM % 85% 88% 87% 87% 77% 87% 88% 86% 87% 86% 85% 75%
731 656 933 4,065 1,505 2,820 769 4,692 1,093 1,138 2,061 952
Interest 4,081 5,086 6,204 7,324 8,737 9,509 8,135 8,036 9,634 8,773 8,700 8,448
Depreciation 5,173 6,182 7,722 9,231 10,541 11,607 12,039 12,872 13,333 13,095 12,904 13,030
Profit before tax 6,404 7,572 9,457 13,471 9,147 14,590 15,501 19,610 17,702 18,514 19,294 14,547
Tax % 21% 21% 21% 39% -10% 24% 22% 14% 13% 16% 20% -10%
5,046 5,959 7,451 8,204 10,034 11,059 12,036 16,824 15,420 15,573 15,521 15,928
EPS in Rs 5.43 6.41 8.01 8.82 10.79 11.89 12.94 18.09 16.58 16.74 16.69 17.13
Dividend Payout % 21% 20% 31% 33% 43% 47% 52% 61% 67% 67% 54% 79%
Compounded Sales Growth
10 Years: 9%
5 Years: 3%
3 Years: 1%
TTM: 2%
Compounded Profit Growth
10 Years: 10%
5 Years: 4%
3 Years: 1%
TTM: 4%
Stock Price CAGR
10 Years: 14%
5 Years: 18%
3 Years: 19%
1 Year: -2%
Return on Equity
10 Years: 17%
5 Years: 18%
3 Years: 17%
Last Year: 16%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 5,232 5,232 5,232 5,232 5,232 5,232 5,232 6,975 6,975 9,301 9,301 9,301
Reserves 33,207 38,738 44,634 49,194 53,857 59,464 64,704 69,272 76,051 77,845 83,362 91,193
96,243 108,545 118,988 131,503 146,376 148,270 143,232 134,696 128,584 123,516 131,030 148,071
26,102 26,797 26,809 39,425 41,916 43,706 42,539 40,008 40,615 40,168 42,326 46,163
Total Liabilities 160,784 179,312 195,662 225,354 247,380 256,671 255,708 250,950 252,225 250,829 266,019 294,727
91,191 115,094 137,678 156,198 172,740 181,112 183,726 191,773 185,437 177,761 172,320 176,623
CWIP 53,681 45,611 38,264 37,669 37,631 35,177 24,838 12,854 13,772 18,197 33,585 43,654
Investments 220 919 1,165 1,224 1,296 1,431 1,486 3,788 3,489 4,163 3,117 2,995
15,693 17,688 18,555 30,264 35,713 38,951 45,659 42,536 49,527 50,708 56,998 71,455
Total Assets 160,784 179,312 195,662 225,354 247,380 256,671 255,708 250,950 252,225 250,829 266,019 294,727

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
15,800 15,008 21,575 22,710 23,271 30,739 29,403 26,124 40,203 37,290 36,223 40,931
-24,185 -21,576 -23,836 -25,701 -18,727 -10,733 -9,244 753 -7,138 -13,114 -23,533 -35,305
6,399 5,621 3,959 1,285 -2,431 -18,806 -20,521 -28,967 -30,450 -25,903 -12,357 -4,006
Net Cash Flow -1,986 -948 1,698 -1,707 2,113 1,199 -362 -2,091 2,615 -1,728 333 1,619
Free Cash Flow -9,178 -6,671 -2,349 -3,470 820 19,372 19,786 18,157 31,960 25,886 12,112 3,682
CFO/OP 114% 90% 104% 96% 95% 101% 90% 83% 109% 104% 101% 126%

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 46 48 44 44 49 49 79 81 119 92 63 91
Inventory Days
Days Payable
Cash Conversion Cycle 46 48 44 44 49 49 79 81 119 92 63 91
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%

Insights

In beta
Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Number of Substations
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Transformation Capacity
MVA
Transmission Network Length
ckm
Transmission System Availability
%
Total Employee Headcount
nos
Annual Tripping per Line
nos

Extracted by Screener AI

Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
51.34% 51.34% 51.34% 51.34% 51.34% 51.34% 51.34% 51.34% 51.34% 51.34% 51.34% 51.34%
33.14% 32.01% 30.51% 29.82% 28.73% 28.26% 28.11% 26.79% 26.50% 25.66% 24.73% 25.02%
12.55% 13.21% 14.77% 15.26% 16.32% 16.89% 16.99% 18.30% 18.49% 19.33% 20.19% 20.05%
0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.04% 0.06% 0.07% 0.07% 0.07% 0.08%
2.95% 3.44% 3.37% 3.58% 3.61% 3.50% 3.50% 3.52% 3.61% 3.60% 3.67% 3.51%
No. of Shareholders 7,83,2659,31,3669,61,58511,00,85013,17,07713,29,74113,51,25213,83,98613,88,41713,72,72513,74,80113,35,909

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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