Power Grid Corporation of India shared its FY2025-26 investor presentation at the Analysts' & Institutional Investors' Meet held on Monday, 18th May, 2026, at 11:30 A.M. (IST) in Mumbai. The presentation was submitted to both the National Stock Exchange of India Limited and BSE Limited under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, by Company Secretary & Compliance Officer Satyaprakash Dash. The meet was organized in association with PL Capital (Prabhudas Lilladher) at Hotel ITC Maratha, Sahar Airport Road, Andheri (East), Mumbai, Maharashtra, with Senior Management discussing the company's business and outlook following the declaration of audited financial results for the 4th Quarter & Financial Year ended 31st March, 2026. Subsequently, on 19th May, 2026, the company filed the audio and video recording links of the meet with the exchanges, also under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

The recordings are accessible at the following links:

• Audio Link: https://apps.powergrid.in/pgdocs/2026/05/Power%20Grid%20Analysts%20Meet%20Audio%2018.05.2026.mp3
• Video Link: https://apps.powergrid.in/pgdocs/2026/05/Power%20Grid%20Analysts%20&%20Institutional%20Investors%20Meet.mp4

Meeting & Management Details

The following senior management representatives participated in the meet:

FY26 Operational Highlights

Power Grid Corporation reported strong execution during FY2025-26, commissioning 4,765 circuit kilometres (ckm) of transmission lines (compared to 4,054 ckm in FY25), adding 72,055 MVA of transformation capacity (versus 32,819 MVA in FY25), and establishing 9 new substations (compared to 4 in FY25). The company also achieved notable technological milestones, including the commissioning of Asia's first transformer with synthetic ester oil (315 MVA, 400/220 kV at HVDC Bhiwadi substation), India's first insulated cross-arms at 400 kV voltage level, and an indigenously developed 220 kV Mobile GIS for rapid restoration.

Financial Performance

The company's consolidated and standalone financial results for Q4 FY26 and full-year FY26 are presented below:

Consolidated Financial Performance (₹ in crore)

Standalone Financial Performance (₹ in crore)

Other Key Financial Information (₹ in crore)

* On Standalone basis   # Includes Bill Discounting

Balance Sheet & Key Ratios

The company's key balance sheet metrics and financial ratios as on 31st March, 2026 are as follows:

On collections, the company reported billing of ₹40,201 crore (Apr'25–Mar'26) against realization of ₹40,684 crore for the same period, with total outstanding dues of ₹2,905 crore as on 31st March, 2026.

Order Pipeline & Outlook

Power Grid Corporation reported a robust works-in-hand position of approximately ₹1.70 lakh crore, providing multi-year revenue visibility. The composition of works in hand as on 31st March, 2026 is detailed below:

The bidding pipeline stands at over ₹1.1 lakh crore, comprising projects under bidding worth ₹1,05,334 crore (18 Inter-State projects at ₹87,760 crore and 21 Intra-State projects at ₹17,574 crore) and projects to be floated worth ₹5,270 crore, aggregating to a total approved cost of ₹1,10,604 crore (as on 16th May, 2026). In the TBCB competition segment, Power Grid won 9 out of 28 projects in FY26 and holds a cumulative tariff market share of approximately 44% across all TBCB projects since inception. The company also secured its maiden BESS win under the TBCB route. On the HVDC front, 22 schemes are at various stages of bidding and planning, with a combined capacity of approximately 127 GW. The FY27 capitalization guidance stands at ₹37,000 crore.

Sustainability & ESG

Power Grid Corporation continues to advance its ESG commitments, targeting net zero emissions by 2047. Key achievements include approximately 55% of its net water positive goal achieved through rainwater harvesting and approximately 90% of waste diverted from disposal via recycling and reuse. The company commissioned a 315 MVA synthetic ester oil inter-connecting transformer and 85 MW solar PV capacity during FY2025-26. It currently operates 9 Pink Substations (as on 31st March, 2026) and has received an NSE ESG Rating of 70 (Aspiring) (last updated December 2025). CSR expenses for FY26 stood at ₹351 crore on a standalone basis.

Power Grid Corporation of India has filed compliance disclosures with the National Stock Exchange of India Limited and BSE Limited, confirming that its two promoter entities — the Ministry of Development of North Eastern Region (M/o DoNER) and the Ministry of Power (MoP) — have declared nil encumbrance in the company's shares for the Financial Year 2025-26. The disclosures were submitted in accordance with Regulation 31(4) of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended. The communication was signed and submitted by Satyaprakash Dash, Company Secretary & Compliance Officer, on 3rd April, 2026.

Disclosure Details

Both promoter ministries, acting on behalf of the President of India, submitted separate declarations confirming the absence of any direct or indirect encumbrance on shares of Power Grid Corporation of India Limited during the Financial Year 2025-26. The key details of the disclosures are summarised below:

Declaration by Ministry of Development of North Eastern Region

The Ministry of Development of North Eastern Region submitted its declaration dated 1st April, 2026, stating that the President of India, represented through M/o DoNER, has not made any encumbrance, directly or indirectly, in the shares of Power Grid Corporation of India Limited during the Financial Year 2025-26. The declaration was signed by Shashikant Mehta, Deputy Secretary, Ministry of Development of North Eastern Region, Government of India, based at Jodhpur Officers Hostel, C-Hexagon, New Delhi-110003.

Declaration by Ministry of Power

The Ministry of Power submitted its declaration dated 2nd April, 2026, confirming that the President of India, represented through the Ministry of Power, has not made any encumbrance, directly or indirectly, in the shares of Power Grid Corporation of India Limited during the Financial Year 2025-26. This declaration was signed by Om Kant Shukla, Director, Ministry of Power, Government of India, New Delhi-110001.

Filing and Compliance

The disclosures were compiled and submitted to both the National Stock Exchange of India Limited and BSE Limited by Satyaprakash Dash, Company Secretary & Compliance Officer of Power Grid Corporation of India Limited, on 3rd April, 2026. The filings are in compliance with the requirements of SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011, as amended, ensuring transparency regarding the promoter shareholding and encumbrance status of the company.