Power Grid Corporation of India 's Board of Directors has approved a significant corporate restructuring decision involving its relationship with PTC India Limited. The board meeting held on 30th January, 2026, resulted in the approval of withdrawal of POWERGRID's nominee director from PTC India Limited's Board and complete relinquishment of promoter rights.

Board Decision Details

The decision encompasses two key aspects of POWERGRID's disengagement from PTC India Limited:

Ministry of Power Directive

The corporate action follows an Office Memorandum issued by the Ministry of Power on 16th January 2026. This directive appears to have prompted POWERGRID's decision to restructure its relationship with PTC India Limited, moving away from its current promoter status and board representation.

Regulatory Disclosure

POWERGRID has fulfilled its disclosure obligations under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company communicated this development to both major stock exchanges:

• NSE: SCRIP ID - POWERGRID
• BSE: Scrip Code - 532898
• ISIN: INE752E01010

The disclosure was signed by Satyaprakash Dash, Company Secretary and Compliance Officer, ensuring proper regulatory compliance for this significant corporate restructuring decision.

Power Grid Corporation of India Limited delivered impressive financial performance in Q3FY26, demonstrating strong operational efficiency and strategic growth momentum. The company's Board of Directors, in their meeting held on January 30, 2026, approved the unaudited financial results for the quarter and nine months ended December 31, 2025, in compliance with SEBI LODR Regulations 30, 33, 43 and 52.

Board Meeting and Regulatory Compliance

The Board meeting commenced at 05:30 P.M. (IST) and concluded at 07:35 P.M. (IST) on Friday, January 30, 2026. In pursuance of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the Board considered and approved multiple strategic decisions including financial results, dividend payment, and borrowing proposals.

Financial Performance Highlights

The transmission utility giant reported robust financial metrics across key parameters during the third quarter of FY26. The consolidated results showed strong performance with net profit exceeding analyst expectations:

Operational Excellence and Margin Expansion

POWERGRID demonstrated exceptional operational performance with EBITDA reaching ₹10,650.00 crore in Q3FY26 compared to ₹9,540.00 crore in the corresponding previous quarter, marking a robust growth of 11.60%. The company's EBITDA margin improved to 85.95% from 84.92% year-on-year, reflecting enhanced operational efficiency and cost management.

Dividend Declaration and Capital Allocation

The Board approved significant shareholder returns through dividend distribution. Following the first interim dividend of ₹4.50 per share declared in November 2025, the company announced a second interim dividend of ₹3.25 per equity share of ₹10.00 each, representing 32.50% of the paid-up equity share capital.

Strategic Borrowing Authorization

To support its ambitious expansion plans, the Board approved a comprehensive borrowing proposal of up to ₹32,000.00 crore during FY2025-26. This funding will be sourced through multiple channels including domestic bonds, term loans, external commercial borrowings, foreign currency bonds, multilateral funding, and suppliers' credit arrangements.

Transmission Income Recognition

The company recognized transmission income totaling ₹10,341.17 crore for Q3FY26 as per tariff orders issued by the Central Electricity Regulatory Commission (CERC), compared to ₹9,143.13 crore in the corresponding previous quarter. Additionally, ₹256.65 crore was recognized provisionally for transmission assets awaiting final tariff orders.