Power Grid Corporation of India Limited (IN:POWERGRID)
:POWERGRID
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Power Grid Corporation of India Limited
(POWERGRID)
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Rating:64Neutral
Price Target:
₹327.00
▲(20.64% Upside)
Action:Downgraded
Date:05/17/26
The score is primarily constrained by uneven cash generation (including negative FY2026 free cash flow) and a leveraged balance sheet, despite strong reported profitability. Valuation is supportive with a moderate P/E and ~2.94% dividend yield, while technicals show softer near-term momentum but continued longer-term price support above the 100/200-day averages.
Positive Factors
Regulated, tariff-linked business model
POWERGRID’s core revenues are tariff‑regulated and designed to recover costs plus allowed returns. This regulatory linkage creates durable, predictable cash flows as commissioned assets join the regulated base, reducing demand cyclicality risk and anchoring long‑term earnings visibility.
Negative Factors
Elevated leverage
A leveraged balance sheet is typical for utilities but narrows financial flexibility. If interest rates rise or project timelines slip, higher debt burdens increase refinancing risk and cost of capital, constraining the firm’s ability to self‑fund new projects or absorb cash‑flow shocks.
Read all positive and negative factors
Positive Factors
Negative Factors
Regulated, tariff-linked business model
POWERGRID’s core revenues are tariff‑regulated and designed to recover costs plus allowed returns. This regulatory linkage creates durable, predictable cash flows as commissioned assets join the regulated base, reducing demand cyclicality risk and anchoring long‑term earnings visibility.
Read all positive factors
Power Grid Corporation of India Limited (POWERGRID) vs. iShares MSCI India ETF (INDA)
Market Cap
₹2.69T
Dividend Yield3.37%
Average Volume (3M)668.98K
Price to Earnings (P/E)13.7
Beta (1Y)0.87
Revenue Growth2.05%
EPS Growth2.63%
CountryIN
Employees8,316
SectorUtilities
Sector Strength65
IndustryRegulated Electric
Share Statistics
EPS (TTM)16.34
Shares Outstanding9,300,604,000
10 Day Avg. Volume1,066,787
30 Day Avg. Volume668,976
Financial Highlights & Ratios
PEG Ratio5.58
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
₹340.00Price Target Upside25.44% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)18.59
Revenue Forecast (FY)₹519.07B
Power Grid Corporation of India Limited Business Overview & Revenue Model
Company Description
Power Grid Corporation of India Limited, an electric power transmission utility, engages in the transmission of power in India. It operates in three segments: Transmission Services, Telecom Services, and Consultancy Services. As of March 31, 2022,...
How the Company Makes Money
POWERGRID primarily earns revenue from regulated transmission services. Its core business is owning and operating interstate transmission assets (transmission lines, substations, and associated equipment) and providing availability-based transmiss...
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 | 461.81B | 467.33B | 457.92B | 458.43B | 456.03B | 416.22B |
| Gross Profit | 395.62B | 249.49B | 447.60B | 449.15B | 447.80B | 407.92B |
| EBITDA | 389.57B | 379.79B | 396.00B | 402.17B | 401.77B | 369.73B |
| Net Income | 152.01B | 187.02B | 155.21B | 155.73B | 154.20B | 168.24B |
Balance Sheet | ||||||
| Total Assets | 2.78T | 2.95T | 2.66T | 2.51T | 2.50T | 2.51T |
| Cash, Cash Equivalents and Short-Term Investments | 96.37B | 91.72B | 100.77B | 60.56B | 97.69B | 50.20B |
| Total Debt | 1.36T | 1.48T | 1.35T | 1.27T | 1.32T | 1.35T |
| Total Liabilities | 1.79T | 1.94T | 1.73T | 1.64T | 1.69T | 1.75T |
| Stockholders Equity | 989.32B | 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
271.05
Price Trends
304.73
Negative
291.68
Negative
282.53
Positive
Market Momentum
-4.11
Positive
35.93
Neutral
30.75
Neutral
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 271.05 is below the 20-day moving average (MA) of 304.69, below the 50-day MA of 304.73, and below the 200-day MA of 282.53, indicating a neutral trend. The MACD of -4.11 indicates Positive momentum. The RSI at 35.93 is Neutral, neither overbought nor oversold. The STOCH value of 30.75 is Neutral, 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 (66)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
74 Outperform | ₹54.17B | 8.95 | ― | 7.35% | 6.40% | -32.72% | |
73 Outperform | ₹1.31T | 106.88 | ― | 0.10% | 44.59% | 102.73% | |
66 Neutral | $17.65B | 18.10 | 5.60% | 3.62% | 6.62% | 11.55% | |
64 Neutral | ₹2.69T | 13.72 | ― | 3.37% | 2.05% | 2.63% | |
60 Neutral | ₹163.27B | 40.49 | ― | 9.40% | 45.04% | -9.58% | |
57 Neutral | ₹717.11B | 29.64 | ― | 1.48% | -0.68% | -21.43% | |
51 Neutral | ₹1.34T | 35.84 | ― | 0.59% | -4.66% | -5.61% |
* Utilities Sector Average
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Power Grid Corporation of India Limited Corporate Events
Power Grid Forms Kenyan SPV With Africa50 for Transmission PPP Project
Apr 22, 2026
Power Grid Corporation of India Limited has expanded its international presence by jointly incorporating a Special Purpose Vehicle in Kenya with Africa50, named Mwanga Transmission Company Limited, to implement a major transmission project. The pr...
POWERGRID CMD Burra Vamsi Rama Mohan Given Additional Charge as Director (Projects)
Apr 6, 2026
Power Grid Corporation of India Limited has announced that Chairman and Managing Director Burra Vamsi Rama Mohan has been given additional charge as Director (Projects). The temporary assignment, effective from 1 April 2026 for up to three months ...
Power Grid wins Tumkur-II inter-state transmission project for 2.7 GW renewable integration
Apr 1, 2026
Power Grid Corporation of India Limited has been declared the successful bidder under the Tariff Based Competitive Bidding framework to establish an inter-state transmission system for the “Transmission System Strengthening at Tumkur-II for ...
Power Grid appoints Burra Vamsi Rama Mohan as new CMD
Apr 1, 2026
Power Grid Corporation of India Limited has announced a leadership change following a Board meeting held on 1 April 2026, acting on an order from the Ministry of Power. The Board has approved the appointment of Shri Burra Vamsi Rama Mohan, previou...
Power Grid posts analyst webinar recordings to bolster investor transparency
Mar 24, 2026
Power Grid Corporation of India Limited has made available the video and audio recordings of a webinar held on 23 March 2026 for analysts and investors, where senior management provided a business update and interacted with market participants. Th...
Power Grid shares analyst webinar recording with investors
Mar 23, 2026
Power Grid Corporation of India Limited, a leading state-owned power transmission utility, operates the national high-voltage network that underpins electricity flows across India. It plays a critical role in maintaining grid stability and facilit...
POWERGRID Board Clears ₹705 Crore Investment in Grid Spares
Mar 19, 2026
Power Grid Corporation of India Limited’s board has approved an investment for the procurement of cold spare transformers and reactors, as endorsed in the 77th Northern Regional Power Committee. The project, with an estimated cost of ₹...
Power Grid expands subsidiary merger plan to streamline structure
Mar 19, 2026
Power Grid Corporation of India’s board has approved a revised consolidation plan to merge 28 wholly owned subsidiaries into two other wholly owned units, superseding an earlier proposal that covered 11 subsidiaries. The expanded amalgamatio...
Power Grid board to weigh new bank funding; trading window closed around meeting
Mar 3, 2026
Power Grid Corporation of India has scheduled a board meeting on 9 March 2026 to consider raising funds through an unsecured rupee term loan or line of credit from banks. The move signals the company’s intention to secure additional debt fin...
Power Grid faces board-composition fines from BSE and NSE, seeks waiver and ministry action
Feb 28, 2026
Power Grid Corporation of India Limited has disclosed that both BSE and NSE have imposed fines of Rs. 5,42,800 each, including GST, for non-compliance with board composition norms under Regulation 17(1) of SEBI’s Listing Obligations and Disc...
Government raises equity investment limit for Power Grid subsidiaries to boost transmission, renewables
Feb 24, 2026
The Cabinet Committee on Economic Affairs has approved an enhanced delegation of powers to Power Grid Corporation of India, raising its permissible equity investment limit in each subsidiary from Rs 5,000 crore to Rs 7,500 crore while retaining th...
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.