New Delhi: Power Grid Corporation of India Limited (POWERGRID), India’s central transmission utility, reported a 9.7 percent year-on-year increase in consolidated net profit for the fourth quarter of FY26, even as revenue and operating margins came under pressure. The company also announced a final dividend of ₹1.25 per share and approved plans to raise up to ₹5,000 crore through rupee term loans.
The audited financial results for the quarter and year ended March 31, 2026, were approved by the company’s Board of Directors at its meeting held on Friday.
Q4 FY26: Profit Growth Despite Lower Revenue
On a consolidated basis, POWERGRID posted a net profit of ₹4,546 crore in Q4 FY26, compared to ₹4,143 crore in the corresponding quarter of the previous year.
Revenue from operations declined 5 percent to ₹11,666 crore from ₹12,275 crore in Q4 FY25.
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Operating performance weakened during the quarter, with EBITDA falling 11.3 percent to ₹9,066 crore from ₹10,224 crore a year earlier. As a result, EBITDA margin narrowed sharply to 77.7 percent from 83.3 percent.
Standalone FY26 Net Profit Crosses ₹15,900 Crore
On a standalone basis, the company reported a net profit of ₹15,921 crore for the full financial year 2025–26, up 3.7 percent from ₹15,353.57 crore in FY25.
Total comprehensive income for FY26 stood at ₹16,066.78 crore, compared to ₹15,114.24 crore in the previous year.
Revenue from operations for the full year was marginally lower at ₹40,904.20 crore, down from ₹41,431.49 crore in FY25. However, higher other income of ₹6,091.68 crore helped total income rise to ₹46,995.88 crore.
Basic earnings per share (EPS), including regulatory deferral account balances, increased to ₹17.12 from ₹16.51 in FY25.
Segment Performance: Consultancy and Telecom Shine
Transmission Segment Remains Core Business
The transmission segment, which remains POWERGRID’s principal business, generated revenue of ₹10,865.09 crore in Q4 FY26, down 7.2 percent from ₹11,710.65 crore in the same quarter last year.
For the full year, transmission segment revenue stood at ₹40,407.31 crore, compared to ₹41,545.89 crore in FY25.
Consultancy Business Records Strong Growth
The consultancy segment delivered robust growth, with Q4 revenue rising 60.4 percent to ₹830.53 crore from ₹517.74 crore a year earlier.
For the full year, consultancy revenue increased to ₹1,248.22 crore from ₹796.28 crore.
Telecom Segment Posts Steady Gains
Revenue from the telecom segment rose 4.3 percent to ₹315.73 crore in Q4 FY26, compared to ₹302.85 crore in the corresponding period last year.
Dividend Announcement: Total FY26 Payout at ₹9 Per Share
The Board has recommended a final dividend of ₹1.25 per equity share (face value ₹10 each), subject to shareholder approval at the upcoming Annual General Meeting.
This is in addition to two interim dividends already paid during FY26:
- First Interim Dividend: ₹4.50 per share
- Second Interim Dividend: ₹3.25 per share
With the final dividend, the total dividend for FY26 amounts to ₹9.00 per share.
Board Approves ₹5,000 Crore Fund Raise
POWERGRID’s Board has approved raising up to ₹5,000 crore through unsecured rupee term loans and lines of credit from its existing consortium of bankers through a competitive bidding process.
The company said the fund raise will strengthen its capital position and support future expansion.
Other Key Updates
Clean Auditor’s Report
The statutory auditors have issued an unmodified (clean) opinion on both standalone and consolidated financial statements for FY26.
Corporate Restructuring
The company updated investors on merger schemes involving several wholly owned subsidiaries, effective March 1, 2026, aimed at simplifying the corporate structure.
Proposed Stake Divestment
The Board granted in-principle approval to divest POWERGRID’s entire stake in Central Transmission Utility of India Limited (CTUIL) to Grid Controller of India Limited (GRID-INDIA).
About Power Grid Corporation of India (POWERGRID)
Power Grid Corporation of India Limited is a leading public sector enterprise responsible for developing, operating, and maintaining India’s interstate transmission system. The company is a key pillar of the country’s energy infrastructure, ensuring efficient and reliable power transfer across regions while supporting India’s growing electricity needs through continuous expansion and modernization of the national grid.
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