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Power Grid Corporation of India Limited is India's principal electric power transmission company. It owns and operates 90% of India's interstate and inter-regional electric power transmission system. The company is engaged in planning, implementing, operating and maintaining the Inter-State Transmission System, as well as providing telecom and consultancy services. Power Grid's core operations include transmission of bulk power across different states through extra high voltage/high voltage networks, consultancy services in transmission and distribution sectors, and telecom services utilizing spare optical fibers on its transmission network. The company also works on smart grid technologies for real-time monitoring and control of power systems.
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Company insights, generated from the most recent coverage.
₹3,244.33 crore Rajasthan REZ LoI adds to Power Grid's order book, providing 25-35 year revenue visibility via TBCB model for 6,000 MW HVDC renewable evacuation infrastructure.
FY26 capex guidance raised to ₹32,000 Cr from ₹28,000 Cr, signaling accelerated infrastructure rollout.
Regulated equity base at ₹80,000-83,000 crore after excluding TBCB SPV investments — provides visibility into core regulated asset returns separate from competitive bidding ventures.
The Quarter story
The two most recent quarterly results, compared side-by-side.
Power Grid sustains high grid reliability and steady equity growth, backed by aggressive transmission expansion and faster cash collections.
Receivable days improved from 19.41 days in Q1 FY26 to 12.11 days in Q1 FY27, highlighting faster collections.
CAPEX fell from ₹28,000 Cr in Q1 FY26 to ₹7,765 Cr in Q1 FY27, signaling phased infrastructure spending.
TBCB works in hand expanded from ₹99,906 Cr in Q1 FY26 to ₹1,46,315 Cr in Q1 FY27, signaling robust transmission order inflows.
JV dividends dropped from ₹40 Cr in Q1 FY26 to ₹17 Cr in Q1 FY27, reflecting reduced cash distributions from joint ventures.
Telecom orders rose from ₹58 Cr in Q1 FY26 to ₹226 Cr in Q1 FY27, highlighting strong demand for infrastructure projects.
Consolidated debt rose from ₹1,30,646 Cr in Q1 FY26 to ₹1,45,586 Cr in Q1 FY27, reflecting managed leverage for ongoing projects.
Consolidated net worth grew from ₹96,482 Cr in Q1 FY26 to ₹1,04,028 Cr in Q1 FY27, confirming robust equity expansion.
Long-term outstanding dues rose from ₹1,174 Cr in Q4 FY26 to ₹1,458 Cr in Q1 FY27, indicating mixed collection efficiency on aged receivables.
Transmission lines commissioned climbed from 652 ckm in Q1 FY26 to 1,635 ckm in Q1 FY27, highlighting aggressive grid expansion.
Differential tariff interest fell from ₹257 Cr in Q1 FY26 to ₹22 Cr in Q1 FY27, signaling reduced regulatory compensation.