Power Grid Corporation of India reported strong Q4FY26 results with consolidated net profit rising 10% year-on-year to ₹4,546.33 crore compared to ₹4,142.87 crore in the corresponding period last year, driven by higher deferred tax credit. The company's consolidated net profit for the full fiscal year 2025-26 increased to ₹15,927.95 crore from ₹15,521.44 crore year-ago, demonstrating consistent growth momentum. However, total income declined to ₹11,970.69 crore in Q4FY26 from ₹12,590.80 crore in the year-ago period. The board recommended a final dividend of ₹1.25 per equity share for FY2025-26, subject to shareholder approval at the upcoming AGM, in addition to the interim dividend of ₹7.75 per share already paid during the financial year.
The significant profit growth was primarily attributed to deferred tax credit of ₹5,179.80 crore in Q4FY26 compared to ₹19.98 crore in the same period last year, as reported in the latest regulatory filing. This substantial increase in deferred tax benefits significantly boosted the company's bottom line performance for the quarter. The company's operational performance remained robust with EBITDA falling 11.3% to ₹9,066 crore against ₹10,224 crore a year ago, while EBITDA margin narrowed to 77.7% from 83% last year, though this was lower than the estimated 84.28%.
Power Grid maintained exceptional operational performance with average transmission system availability of 99.84% during FY26, demonstrating the reliability and efficiency of India's power transmission infrastructure. At the end of FY26, the company's transmission assets included 1,84,960 circuit kilometres of transmission lines, 291 substations and 6,24,016 MVA of transformation capacity. The company also streamlined its subsidiary structure by approving the merger of 28 wholly owned subsidiaries into 2 existing subsidiary companies, adding to the already completed amalgamation of 19 wholly owned subsidiaries into 2 other existing subsidiary companies. This consolidation is aimed at enhancing operational efficiency, management oversight and governance.
The Indian stock markets traded higher amid mixed global cues, with the Nifty50 gaining 144.55 points or 0.61% to reach 23,826.60 as of 10:00 am, while the Sensex rose 427.19 points or 0.57% to 75,832.46. According to Business Standard, Tata Motors Passenger Vehicles, Infosys, and Tech Mahindra emerged as the top gainers in the Nifty50 index. The broader market showed mixed performance with the Nifty MidCap index down 0.20% and the Nifty SmallCap index declining 0.55%. Notably, Power Grid Corporation of India shares ended higher on Friday, closing at ₹305.9 on BSE, gaining ₹4.1 or 1.3% ahead of the earnings announcement. The Maharatna stock has risen 14.5% so far this year, outperforming a 9.6% fall in the Nifty 50 and even a 12.7% rise in the Nifty Energy index.
Over 140 companies are scheduled to announce their fourth quarter FY26 earnings today, May 15, 2026. According to reports from Business Standard, the list includes major corporations such as Power Grid Corporation of India, Tata Steel, Cochin Shipyard, NHPC, Solar Industries India, Deepak Nitrite, Gland Pharma, Godrej Industries, Alembic Pharmaceuticals, Amber Enterprises India, Balrampur Chini Mills, Hindustan Copper, NCC, Devyani International, and ITC Hotels. The comprehensive list spans across various sectors including pharmaceuticals, steel, power, and consumer goods companies.
