PowerGrid hosted an earnings call to discuss Q2 FY26 results. Key highlights include a ₹15,385 crore capital expenditure, and a ₹4,587 crore capitalization. The company maintains high availability at 99.83%. The Brahmaputra basin scheme presents a significant opportunity worth ₹6,42,944 crores. Focus remains on project execution and renewable energy integration, with a commitment to environmental sustainability. The company aims to commission projects worth ₹20,000 crores by March 2026.
Financial Performance
In the half-yearly results, PowerGrid reported a total income of ₹23,115 crores with an EBITDA of ₹19,109 crores and a profit after tax of ₹7,197 crores. The company’s net worth stands at ₹98,932 crores, and the debt-equity ratio is 58:42. Transmission charges accounted for ₹21,356 crores of the income.
Project Execution and Commissioning
The company’s capital expenditure reached ₹15,385 crores, significantly higher than the ₹10,002 crores in the last financial year. Capitalization stood at ₹4,587 crores. Key projects commissioned include Khavda III, Ahmedabad, and New Navsari substations. Several transmission lines were also commissioned, including Khavda II, Khavda III, and Banaskantha to Ahmedabad 765 kV lines.
Strategic Initiatives and Future Outlook
PowerGrid highlighted the Brahmaputra basin scheme as a significant opportunity, projecting a requirement of ₹6,42,944 crores in investments. This includes 42GW of HVDC corridors. The company has projects worth ₹1,52,000 crores in hand, with ₹1,03,000 crores from TBCB. Capital expenditure for financial year 2025-26 is committed at about ₹28,000 crores.
Sustainability and CSR Initiatives
PowerGrid emphasized its commitment to environmental sustainability, with 29% of power sourced from green tariff and 33% share of renewables in total power consumption. The company increased water management capacity by 43% for rainwater harvesting and diverts 90% of waste from disposal through recycling and reuse.
Challenges and Mitigation
The company acknowledged challenges related to Right of Way (RoW) and equipment shortages. Government initiatives and bulk procurement strategies are being used to mitigate these challenges. Government of India issued guidelines in March 2025, for increasing land compensation rates. The target for commissioning projects is about ₹20,000 crores by the end of March 2026.
Source: BSE
