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Power Grid Corporation of India Limited
(POWERGRID)
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Rating:61Neutral
Price Target:
₹281.00
▼(-2.53% Downside)
Action:Reiterated
Date:08/17/26
The score is driven primarily by solid profitability but materially constrained by weak and volatile cash flow (including negative free cash flow in FY2026) and elevated leverage. Technicals further weigh on the score as the stock trades below key moving averages with negative MACD, although oversold indicators provide some counterbalance. Valuation is supportive due to a moderate P/E and a strong dividend yield.
Positive Factors
Regulated transmission model
The regulated interstate transmission model provides relatively predictable, annuity-like revenue once assets are commissioned. A growing transmission network can expand the regulated capital base and support durable earnings visibility over the medium term.
Negative Factors
Elevated leverage
High leverage is common in regulated utilities but still reduces financial flexibility. It can increase refinancing sensitivity, constrain additional investment capacity, and pressure returns if borrowing costs rise or project cash flows weaken.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated transmission model
The regulated interstate transmission model provides relatively predictable, annuity-like revenue once assets are commissioned. A growing transmission network can expand the regulated capital base and support durable earnings visibility over the medium term.
Read all positive factors
Power Grid Corporation of India Limited (POWERGRID) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.49T
Dividend Yield3.47%
Average Volume (3M)668.98K
Price to Earnings (P/E)15.4
Beta (1Y)0.83
Revenue Growth2.29%
EPS Growth3.03%
CountryIN
Employees9,745
SectorGeneral
Sector StrengthN/A
IndustryRegulated Electric
Share Statistics
EPS (TTM)17.09
Shares Outstanding9,300,604,000
10 Day Avg. Volume1,066,787
30 Day Avg. Volume668,976
Financial Highlights & Ratios
PEG Ratio6.56
Price to Book (P/B)2.74
Price to Sales (P/S)5.89
P/FCF Ratio-51.70
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
₹315.00Price Target Upside9.26% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)18.12
Revenue Forecast (FY)₹508.64B
Power Grid Corporation of India Limited Business Overview & Revenue Model
Company Description
Power Grid Corporation of India Limited functions as a leading electric power transmission utility, primarily responsible for the conveyance of electricity across India. Its business is structured into three main divisions: Transmission Services, ...
How the Company Makes Money
POWERGRID primarily earns revenue by providing regulated electricity transmission services through its ownership and operation of interstate transmission system (ISTS) assets. Its main revenue stream is the transmission charges (tariffs) it recove...
Power Grid Corporation of India Limited Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
64
Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 470.33B | 467.33B | 457.92B | 458.43B | 456.03B | 416.22B |
| Gross Profit | 304.30B | 249.49B | 447.60B | 449.15B | 447.80B | 407.92B |
| EBITDA | 392.09B | 387.98B | 396.00B | 402.17B | 401.77B | 369.73B |
| Net Income | 196.59B | 187.02B | 155.21B | 155.73B | 154.20B | 168.24B |
Balance Sheet | ||||||
| Total Assets | 0.00 | 2.95T | 2.66T | 2.51T | 2.50T | 2.51T |
| Cash, Cash Equivalents and Short-Term Investments | 57.86B | 91.72B | 100.77B | 60.56B | 97.69B | 50.20B |
| Total Debt | 0.00 | 1.48T | 1.35T | 1.27T | 1.32T | 1.35T |
| Total Liabilities | -1.00T | 1.94T | 1.73T | 1.64T | 1.69T | 1.75T |
| Stockholders Equity | 1.00T | 1.00T | 926.63B | 871.45B | 830.15B | 762.47B |
Cash Flow | ||||||
| Free Cash Flow | 6.55B | -53.26B | 120.89B | 258.86B | 311.02B | 181.57B |
| Operating Cash Flow | 148.32B | 319.53B | 362.23B | 372.89B | 380.05B | 261.24B |
| Investing Cash Flow | -130.92B | -358.64B | -235.33B | -131.14B | -71.38B | 7.53B |
| Financing Cash Flow | -22.13B | 55.29B | -123.57B | -259.03B | -304.50B | -289.67B |
Power Grid Corporation of India Limited Technical Analysis
Negative
288.30
Price Trends
281.25
Negative
291.38
Negative
282.64
Negative
Market Momentum
-5.28
Positive
28.95
Positive
7.70
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:POWERGRID, the sentiment is Negative. The current price of 288.3 is above the 20-day moving average (MA) of 275.83, above the 50-day MA of 281.25, and above the 200-day MA of 282.64, indicating a bearish trend. The MACD of -5.28 indicates Positive momentum. The RSI at 28.95 is Positive, neither overbought nor oversold. The STOCH value of 7.70 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:POWERGRID.
Power Grid Corporation of India Limited Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹47.01B | 9.05 | ― | 5.90% | 15.24% | -44.80% | |
69 Neutral | ₹1.07T | 80.42 | ― | 0.10% | 43.91% | 70.60% | |
61 Neutral | ₹2.49T | 15.42 | ― | 3.12% | 2.29% | 3.03% | |
60 Neutral | ₹168.59B | 28.63 | ― | 8.91% | 52.33% | 50.06% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% | |
53 Neutral | ₹637.06B | 26.97 | ― | 1.39% | 4.09% | -16.62% | |
52 Neutral | ₹1.22T | 31.31 | ― | 0.67% | -4.19% | -4.84% |
* General Sector Average
IN:POWERGRID
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262.45
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-4.54%
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Power Grid Corporation of India Limited Corporate Events
Power Grid Tightens Insider Trading and Disclosure Code
Aug 5, 2026
Power Grid Corporation of India Limited’s board has approved amendments to its Code of Practices and Procedures for Fair Disclosure of Unpublished Price Sensitive Information and the conduct for regulating, monitoring and reporting of tradin...
POWERGRID Clears ₹857 Crore HTLS Upgrade for Key Southern Transmission Lines
Aug 5, 2026
Power Grid Corporation of India Limited has approved a new investment project to reconductor the Tirunelveli–Udumalpet and Pugalur–Madurai 400 kV double-circuit transmission lines with high temperature low sag (HTLS) conductors, at an ...
Power Grid to Host Investor Webinar on Q1 FY27 Outlook
Aug 3, 2026
Power Grid Corporation of India Limited, a major Indian power transmission utility, operates extensive high-voltage networks and grid infrastructure that underpin electricity distribution nationwide and support system stability. As a central playe...
Power Grid Announces Superannuation of Executive Director Rajesh Gupta
Jul 31, 2026
Power Grid Corporation of India Limited has announced a change in senior management, with Executive Director Rajesh Gupta retiring upon reaching the age of superannuation on 31 July 2026. His cessation as Executive Director removes one senior mana...
Power Grid sets August 20, 2026 for virtual AGM, confirms leadership and audit mandates
Jul 29, 2026
Power Grid Corporation of India Limited has convened its 37th Annual General Meeting for August 20, 2026, to be held via video conferencing and other audio-visual means, where shareholders will consider the audited financial statements for FY 2025...
Power Grid Sets Record Date and AGM Timeline for FY 2025-26 Final Dividend
Jul 29, 2026
Power Grid Corporation of India Limited has scheduled its 37th Annual General Meeting for August 20, 2026, to be conducted via video conferencing, reflecting continued use of digital formats for shareholder engagement. The meeting will focus, amon...
Power Grid Board Clears Higher Borrowing Limits and Appoints Joint Cost Auditors
Jul 22, 2026
Power Grid Corporation of India Limited’s board has approved raising its borrowing limit to Rs 35,000 crore for FY 2026-27, up from Rs 30,000 crore, and cleared plans to borrow up to Rs 35,000 crore in FY 2027-28 from various sources includi...
Power Grid Board Clears Higher Borrowing Limits and Appoints Joint Cost Auditors
Jul 22, 2026
Power Grid Corporation of India Limited’s board has approved an increase in its borrowing limit to Rs 35,000 crore for FY 2026-27 and cleared plans to raise up to Rs 35,000 crore in FY 2027-28, primarily via domestic bonds, subject to shareh...
POWERGRID Commissions Key Transmission Project for Khavda Renewable Energy Zone
Jul 14, 2026
Power Grid Corporation of India Limited, India’s central transmission utility, is a key player in the power infrastructure sector, specializing in interstate high-voltage transmission networks. The company supports integration of conventiona...
Power Grid CFO Ravisankar Ganesan Retires, Triggering Finance Leadership Shift
Jul 1, 2026
Power Grid Corporation of India Limited announced that Shri Ravisankar Ganesan has ceased to serve as Director (Finance) and Chief Financial Officer of the company with effect from July 1, 2026, following his superannuation on June 30, 2026. The d...
POWERGRID acquires WR ER Part A SPV to expand inter-regional transmission network
Jun 30, 2026
Power Grid Corporation of India Limited has acquired WR ER Part A Power Transmission Limited, a special purpose vehicle created to develop the “WR-ER Inter-Regional Network Expansion Scheme Part-A” under the tariff-based competitive bi...
Power Grid announces senior management change on superannuation
Jun 30, 2026
Power Grid Corporation of India Limited is a state-owned electric utility operating India’s national power transmission network, focusing on high-voltage transmission infrastructure and grid management across the country. Listed on the Natio...
Power Grid commissions key Andhra Pradesh solar transmission project
Jun 26, 2026
Power Grid Corporation of India Limited has fully commissioned a major transmission scheme designed to evacuate power from solar energy zones in Ananthpuram and Kurnool in Andhra Pradesh, with capacities of 2,500 MW and 1,000 MW respectively. The ...
Power Grid wins key interstate transmission bid for WR-ER expansion scheme
Jun 16, 2026
Power Grid Corporation of India Limited has been declared the successful bidder under India’s Tariff Based Competitive Bidding mechanism to develop the “WR-ER Inter-Regional Network Expansion Scheme Part-A” as an interstate trans...
Power Grid commissions Gujarat transmission expansion project
Jun 3, 2026
Power Grid Corporation of India Limited has commissioned the “Transmission Network Expansion in Gujarat to increase ATC from ISTS, Part-B” project, effective 13 May 2026. The project’s commercial operation was formally confirmed ...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.