Power Grid of India (POWERGRID) Q3 24/25 earnings summary

Executive summary

• Achieved top rank in net profit and dividend among Indian public enterprises and service sector CPSEs; international credit rating at BBB-, domestic at AAA/highest safety level.

• Maintained 99.81% system availability, operating 179,594 circuit km and 280 substations, with 84% of interstate transmission system owned.

• Secured first $200 million green loan for renewable energy projects and signed a 10-year R&D agreement with EPRI USA.

• Significant project wins and execution in renewable energy evacuation, grid strengthening, and major HVDC projects.

• Implemented dynamic line rating, e-vegetation management, and received multiple awards for sustainability and women empowerment.

Financial highlights

• Q3 standalone income: INR 11,609 crores; PAT: INR 3,894 crores. Consolidated income: INR 11,743 crores; PAT: INR 3,862 crores.

• Nine months standalone income: INR 33,843 crores; PAT: INR 11,017 crores. Consolidated income: INR 34,869 crores; PAT: INR 11,379 crores.

• EBITDA for nine months: INR 30,148 crores.

• Earnings per share: INR 12.23; book value per share: INR 98.51.

• Interim dividends totaling INR 7.75 per share for FY25; second interim dividend of INR 3.25 per share declared.

Outlook and guidance

• CapEx plan: INR 23,000 crores for FY25, INR 28,000–30,000 crores for FY26, and INR 35,000 crores for FY27.

• Works in hand valued at INR 1,43,749 crores as of Jan 31, 2025; pipeline of INR 1,47,000 crores in projects, with INR 52,000 crores under bidding.

• Sectoral growth driven by India's $5 trillion economy target, renewable energy, green hydrogen, energy storage, and international interconnections.

• Targeting capitalization of INR 18,000 crores for FY25, with similar or higher targets for subsequent years.