Power Grid Corporation Of India Limited · NSE:POWERGRID
Power Grid Corporation Of India — Q3 FY26 Earnings Presentation
40 slides from Power Grid Corporation Of India's earnings presentation, Feb 2, 2026
Slide 1: Cover letter to stock exchanges
02nd February, 2026 To To The General Manager (Listing) The General Manager (Listing) National Stock Exchange of India Limited BSE Limited Exchange Plaza, C 1/G Block, Phiroze Jeejeebhoy Towers, Bandra-Kurla Complex, Dalal Street, Mumbai. Bandra (East), Mumbai. Reference: NSE-SCRIP ID: POWERGRID; BS
Slide 2: Q3FY26 & 9MFY26 Investor Presentation
Q3FY26 & 9MFY26 Investor Presentation 02 February 2026 Mumbai Transmitting Power, Transforming Lives 400kV D/c Tuticorin PS – Madurai Transmission Line
Slide 3: Disclaimer
Disclaimer By attending the meeting where this presentation is made, or by reading the presentation slides, you agree to be bound by the following limitations: ▪ This document has been prepared for information purposes only and is not an offer or invitation or recommendation to buy or sell any secur
Slide 4: Overall Agenda
Overall Agenda Key Highlights Project Execution Operations Financials Other Businesses Business Outlook ESG, CSR & Accolades 3
Slide 5: Key Business Highlights
Key Business Highlights 1 ₹3 Trillion + Gross Fixed Assets India’s National Transmission Backbone 2 FY26 Capex and Capitalization on Track; Poised to Exceed Annual Guidance 3 POWERGRID’s International Expansion through Partnership with Africa50 4 Entry into BESS with First Win under the Build-Own-Op
Slide 6: India's Flagship Power Transmission Utility
Powered by Purpose India's FLAGSHIP Power Transmission Utility MAJOR SHAREHOLDING SUBSIDIARIES: 78* | JOINT VENTURES: 13 GoI: 51.34% | FIIs: 24.73% | DIIs: 20.26% * Including POWERGRID Vemagiri Transmission Ltd. MOU RATING: “Excellent” for FY 2024-25 Gross Fixed Assets: > ₹3 Trillion CREDIT RATINGS
Slide 7: Governance That Energizes Growth
Governance That Energizes Growth Dr. R. K. Tyagi Chairman & Managing Director Dr. Yatindra Dwivedi Sh. Burra Vamsi Rama Mohan Sh. G. Ravisankar Sh. Naveen Srivastava Director (Personnel) Director (Projects) Director (Finance) Director (Operations) Dr. Saibaba Darbamulla Sh. Abhay Bakre Smt. Sajal Jh
Slide 8: Unmatched Scale, Unrivaled Reliability
Unmatched Scale, Unrivaled Reliability STRENGTHENING THE GRID TO MEET CURRENT AND FUTURE POWER DEMAND Transmission Lines Sub-Stations IR* capacity System Availability 1,566 nos. 288 nos. ~101 GW 99.84% 1,83,174 ckm 5,99,016 MVA 84% of total IR * Inter-Regional Capacity >2,92,000 18 70 169 31 22 201
Slide 9: Project Execution
Financial Highlights –Q1FY21 (Standalone) Project Execution Capex & Capitalization Major Elements Commissioned 8
Slide 10: Capex & Capitalization
Financial Highlights –Q1FY21 (Standalone) Capex & Capitalization Capex Capitalization* (₹ in crore) (₹ in crore) 26,761 12,915 9,027 17,651 7,423 11,376 7,649 3,417 Q3 9M Q3 9M FY25 FY26 FY25 FY26 Consolidated Consolidated * Exclusive of FERV * Includes assets capitalised as Finance Lease As on 31st
Slide 11: Major Elements Commissioned (After Sep. 2025)
Major Elements Commissioned (After 30 Sep. 2025) Transmission Line Transformation Capacity 765 kV D/C Khetri - Narela transmission line • 765/400 kV 1500 MVA ICT#7 at Raigarh Kotra PS • 765/400 kV 1500 MVA ICT#7 at KPS2 765 kV D/C Ahmedabad - Lakadia transmission line • 765/400 kV 1500 MVA ICT#1 at
Slide 12: Operations
Financial Highlights –Q1FY21 (Standalone) Operations Key Operating Metrics New Initiatives 11
Slide 13: Key Operating Metrics
Financial Highlights –Q1FY21 (Standalone) Key Operating Metrics AVAILABILITY ANNUAL TRIPPING PER LINE 99.83% 99.85% 99.84% 0.36 99.78% 99.82% 99.82% 0.33 99.75%* 0.27 0.28 0.27 0.21 FY21 FY22 FY23 FY24 FY25 Upto FY21 FY22 FY23 FY24 FY25 Upto Dec'25 Dec'25 * Full incentive capped at 99.75% 12
Slide 14: Mobile GIS Substation for Rapid Restoration
Financial Highlights –Q1FY21 (Standalone) Mobile GIS Substation for Rapid Restoration Indigenous development of Mobile GIS at 132 kV, 220 kV & 400 kV 220 kV Mobile GIS developed - Under implementation for 132 kV & 400 kV variants Modular & Rapidly deployable - For emergency and planned outages Rapid
Slide 15: Financials
Financial Highlights –Q1FY21 (Standalone) Financials Financial Metrics Snapshot Financial Performance Other Key Financial Information Commercial Performance 14
Slide 16: Financial Metrics Snapshot (9MFY26)
Financial Highlights –Q1FY21 (Standalone) Financial Metrics Snapshot (9MFY26) Total Income EBITDA Profit After Tax ₹35,714 Cr. ₹29,846 Cr. ₹11,382 Cr. Net Worth Gross Fixed Assets# Debt : Equity ₹98,906 Cr. ₹3,04,336 Cr. 59:41 # Including Gross Lease Receivables (All information on Consolidated Basi
Slide 17: Performance (Standalone)
Financial Highlights –Q1FY21 (Standalone) Financial Performance (Standalone) Growth Growth Description Q3FY26 Q3FY25 9MFY26 9MFY25 (%) (%) Income ❑ Transmission Charges 10,795 9,976 8 30,434 30,092 1 ❑ Consultancy Services 210 144 46 499 357 40 STANDALONE ❑ Other Income 1,431 1,489 (4) 4,108 3,394 2
Slide 18: Performance (Consolidated)
Financial Highlights –Q1FY21 (Standalone) Financial Performance (Consolidated) Growth Growth Description Q3FY26 Q3FY25 9MFY26 9MFY25 (%) (%) Income ❑ Transmission Charges 11,787 10,825 9 33,143 32,368 2 ❑ Consultancy Services 352 172 105 1,173 427 175 CONSOLIDATED ❑ Telecom 256 236 8 751 722 4 ❑ Oth
Slide 19: Financial Performance
Financial Highlights –Q1FY21 (Standalone) Financial Performance Description Standalone Consolidated As on 31.12.25 As on 31.12.24 As on 31.12.25 As on 31.12.24 ❑ Gross Fixed Assets$ (₹ in crore) 2,69,780 2,63,090 3,04,336 2,88,804 ❑ Capital Work-in-Progress# (₹ in crore) 12,085 12,124 50,173 29,603
Slide 20: Other Key Financial Information
Financial Highlights –Q1FY21 (Standalone) Other Key Financial Information Description Q3FY26 Q3FY25 ❑ Income for previous periods (Consol.) 509 63 ❑ Int. on differential tariff* 95 102 ❑ Int. from Subsidiaries & JVs* 802 560 ❑ Incentive (Consol.) 239 150 ❑ Dividend from JVs* 22 3 ❑ Dividend from Sub
Slide 21: Commercial Performance: Strong Collections
Commercial Performance: Strong Collections (Apr’25 - Dec’25) ₹28,161Cr. ₹29,024 Cr. 103.07% BILLING REALIZATION % REALIZATION Lowest-ever trade receivable days: 24.65 days# at the end of Q3FY26 Outstanding dues (at end of Quarter) (₹ in Cr.) 3,151 2,899 2,524 1,352 1,387 1,149 19.41* 15.16* 1,799 1,
Slide 22: Other Businesses
Financial Highlights –Q1FY21 (Standalone) Other Businesses Telecom Consultancy 21
Slide 23: Telecom Highlights (Q3FY26)
Financial Highlights –Q1FY21 (Standalone) Telecom Highlights (Q3FY26) Total Income# ₹825 Cr. (9MFY25) ₹879 Cr. (9MFY26) # On consolidated basis before elimination of inter-segment revenue 01 02 03 04 HIGHLIGHTS Orders Received Customers added Backbone Telecom Network (incl. multi-year) Availability
Slide 24: Consultancy Highlights (Q3FY26)
Financial Highlights –Q1FY21 (Standalone) Consultancy Highlights (Q3FY26) Revenue from Operation (On consolidated basis) ₹427 Cr. (9MFY25) ₹1173 Cr.* (9MFY26) * New Business of Smart Meter of PESL in 9M FY 2025-26 for ₹603 Cr. DOMESTIC INTERNATIONAL Opportunities in RE, Intra-State, BESS, Pursuing t
Slide 25: Business Outlook
Financial Highlights –Q1FY21 (Standalone) Business Outlook Key Demand Drivers Execution Pipeline Capex & Capitalization Guidance TBCB wins, Entry into BESS & Int’l Expansion Challenges 24
Slide 26: India's Energy Transition: Structural Tailwinds
India’s Energy Transition: Structural Tailwinds Demand Drivers Reshaping India’s Power System Ascending India Clean Energy Commitments* $10 Trillion economy; rapid industrialization & > 600 GW non-fossil fuel capacity by 2032 urbanization ~ 71 GW additional electricity demand from EVs, Green Hydroge
Slide 27: Execution Pipeline
Execution Pipeline Building a Sustainable Energy Future Together… TARIFF BASED COMPETITIVE BIDDING NEW REGULATED TARIFF MECHANISM ₹1,09,767 Cr.* Works in ₹23,608 Cr. Hand# ₹1,45,513 Cr. OTHERS ONGOING REGULATED TARIFF MECHANISM Includes: Cross-Border, Data Centre, Smart Metering & International Proj
Slide 28: FY26 Capex & Capitalization Guidance - Upward Revision
FY26 Capex & Capitalization Guidance - Upward Revision ₹3 Trillion + GROSS FIXED ASSETS CAPEX CAPITALIZATION Earlier: ₹28,000 Cr. → Now: ₹32,000 Cr. Earlier: ₹20,000 Cr. → Now: ₹22,000 Cr. Upward revision reflects strong execution visibility for FY26 and beyond 27
Slide 29: Key TBCB wins (FY26)
Financial Highlights –Q1FY21 (Standalone) Key TBCB wins (FY26) Inter-regional grid strengthening & RE evacuation 1 2 3 4 5 6 7 Transmission Inter-Regional Inter-regional (NR- Network Transmission Inter-Regional Transmission system for Strengthening WR) Transmission expansion scheme system Strengthen
Slide 30: Strategic Entry into Battery Energy Storage System (BESS)
Strategic Entry into Battery Energy Storage System (BESS) Key Highlights Awarded LoA for Shall enable Strategic enabler for 150 MW/ 300 MWh Build-Own-Operate large-scale on-demand power Standalone BESS (BOO) Model with availability and renewable energy enhance grid project under TBCB at VGF support
Slide 31: POWERGRID's International Expansion
Financial Highlights –Q1FY21 (Standalone) POWERGRID’s International Expansion Expanding POWERGRID’s Global Transmission Footprint in partnership with Africa50 through Kenya PPP Project Project Line-1 Project Line-2 Transmission Lines: Transmission Lines: MAJOR • 400kV Loosuk - Lessos line (165 km) •
Slide 32: Challenges in Project Implementation
Challenges in Project Implementation Securing of land Right of Way Supply Chain Constraints (High population, industrial zones, and for construction of Substation expensive land lead to disputes) Manufacturing Capacity Skilled Manpower Difficult terrain, extreme Forest / Wildlife availability weathe
Slide 33: ESG, CSR & Accolades
ESG, CSR & Accolades ESG Milestones CSR Recent Accolades 32
Slide 34: Key ESG Milestone
Key ESG Milestone ENERGY MANAGEMENT 50% of total power consumption met through renewable energy (Dec’25) Achieved through key initiatives Rooftop Solar installations Additional renewable power Pan-India green energy across POWERGRID sourced from 85 MW Solar initiatives, reflecting Company’s faciliti
Slide 35: Milestone in Transformer Technology
Milestone in Transformer Technology ASIA’S FIRST 315 MVA, 400/220 kV transformer WITH SYNTHETIC ESTER OIL COMMISSIONED AT HVDC BHIWADI SUBSTATION A pioneering step towards sustainable and fire safe insulation technology, replacing conventional mineral oil with synthetic ester oil KEY BENEFITS • Impr
Slide 36: Transmission Infrastructure Innovation
Financial Highlights –Q1FY21 (Standalone) Transmission Infrastructure Innovation First-ever deployment of Insulated Cross Arms (ICAs) at 400 kV voltage level in India KEY HIGHLIGHTS • Implemented on 400 kV Maharani Bagh - Narela Multi-Circuit transmission line • ICAs enable more compact tower config
Slide 37: CSR Initiatives: Community Welfare
CSR Initiatives: Community Welfare Improving Healthcare Access and Community Infrastructure CSR Initiative Vishram Sadan inaugurated at Siddharthnagar, Uttar Pradesh CSR Impact • 50-bed Vishram Sadan providing safe accommodation for patients and their families • 500 solar lights and 500 hand pumps d
Slide 38: Skill Development & Healthcare
Skill Development & Healthcare 1 Strengthening Vocational Training Infrastructure 2 Improving Access to Advanced Cancer Care • Handed over Advanced Imaging Systems to Homi • Hon’ble Chief Minister of Uttar Pradesh Bhabha Cancer Hospital & Research Centre, inaugurated the Government ITI at Gorakhpur
Slide 39: Recent Accolades
Recent Accolades “Outstanding Leadership in Asset Management” 19th Exceed Award for Outstanding CSR Work in award to Director (Operations) by IAM*, India Rainwater Harvesting & Conservation 38 *IAM: Institute of Asset Management
Slide 40: Thank You
THANK YOU www.powergrid.in
Power Grid Corporation of India — Q3 FY26 Earnings Presentation on 6ix