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Informist, Tuesday, May 19, 2026

 

By Avishek Rakshit 

 

KOLKATA – After exceeding its targeted capital expenditure in the financial year ended Mar. 31, Power Grid Corp. of India Ltd. is set to invest INR 370 billion in the current financial year to boost its power transmission infrastructure, a senior company official said Monday.

 

"...and the guidance for 27 (FY27), the initial guidance I should say, is 37,000 crore (INR 370 billion)," Burra Vamsi Rama Mohan, chairman and managing director of Power Grid Corp., told sector analysts in a post-earnings call. Mohan said that in FY26, Power Grid had incurred capital expenditure of nearly INR 400 billion against the original plan to spend INR 350 billion.

 

"First, we should also be proud to state that we got the first best project under the bidding route. The solar generation plant at Nagdas has been commissioned and we have commissioned the world's first 765 kilovolt digital substation. We deployed the insulated cross arms on the 400 kilovolt tower, showing our focus on reducing the right-of-way challenges and also reducing the footprint on the environment impact," Mohan said.

 

Power Grid's transmission lines as on March-end stand at 184,000 circuit kilometres and transformation capacity stands at 6.24 gigavolt amperes.

 

"On the execution front, 4,765 circuit kilometres have been added in the previous financial year and a whopping 72,055 MVA (megavolt amperes) amounting to almost 1,500 MVA in every two and a half days were added," Mohan said.

 

The company is also consolidating its business to become more effective. "Given the large number of SPVs (special purpose vehicles) which have been coming, which are 80-plus now, we try to bring in a leaner structure and stronger governance," Mohan said. "Seventeen SPVs have been merged into two other SPVs and 28 SPVs have been merged into other SPVs."

 

For the March quarter, Power Grid incurred capital expenditure of INR 132.06 billion, higher than INR 86.04 billion in the year-ago quarter. Its capitalisation during Jan-Mar was INR 152.91 billion, significantly higher than INR 15.91 billion a year ago.

 

Power Grid reported earnings before interest, tax, depreciation, and amortisation of INR 98.31 billion for the March quarter, down over 5% from INR 103.84 billion recorded in the year-ago quarter. For FY26, its EBITDA was INR 396.77 billion, down 2% from INR 405.31 billion for FY25.

 

The company's telecom vertical received nearly 6% more orders in FY26, taking the worth of the total orders to INR 11.95 billion, while consultancy orders jumped 120% on year to INR 17.55 billion from INR 8 billion in FY25. It has 62 ongoing projects, winning 39 orders in FY26, that include eight new orders or extensions, according to the company's presentation.

 

The power transmission company announced its earnings for the March quarter and FY26 after market hours Friday. It reported a net profit of INR 45.53 billion for the quarter, nearly 5% higher on year and well above the 2% year-on-year rise estimated by the Street. Its revenue for the quarter fell over 9% on year to INR 99.71 billion. Analysts had expected the top line to rise to INR 128 billion. From the trailing quarter, the company's net profit jumped over 9% but its revenue was down over 9%.

 

Tuesday, the company's shares closed traded at INR 298.60 on the National Stock Exchange, up 0.7% from Monday.  End

 

Edited by Rajeev Pai

 

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