POWER GRID CORPORATION OF INDIA LIMITED
Power Grid Corporation of India Limited, an electric power transmission utility, engages in the power transmission business in India and internationally. It operates in three segments: Transmission Services, Telecom Services, and Consultancy Services. As of 31 March 2025, the company owned and operated 180,195 circuit kilometers of transmission lines, and 282 substations with an aggregate transformation capacity of 551,961 mega volt amperes. It also provides telecom services that offer overhead optic fiber network services using optical ground wire on power transmission lines under the POWERTEL brand name, as well as lease lines, MPLS-VPN, data, infrastructure, and international long-distance services. In addition, it provides consultancy services to the transmission, distribution, and telecom sectors on system planning and feasibility studies; environmental and social studies; design and engineering; contract/procurement services; project management and construction supervision; capacity building; operation and maintenance; asset management; owners' and lenders' engineer services to utilities and funding institutions; preparation of grid code, tariff mechanisms, and market analysis; legal and technical advisory in power transmission; power system studies/DPR preparation; smart grid and EV charging; load despatch and communication; sub-transmission/distribution/rural electrification services; testing and quality assurance and inspection; energy efficiency; and preventive vigilance, as well as human resource development. Further, it operates electric vehicle charging stations; and engages in solar power generation, green hydrogen production, smart metering, and data centers. The company was formerly known as National Power Transmission Corporation Limited and changed its name to Power Grid Corporation of India Limited in October 1992. Power Grid Corporation of India Limited was incorporated in 1989 and is based in Gurugram, India.
Valuation
Profitability
Returns
Solvency
AI Summary
Indian StockRule-based from financial data. Not advice.
Historically, Apr has averaged the highest return (+6.4%); May the lowest (-1.9%).
| Year | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -3.1%Negative MonthJan 2026: -3.10% | +16.5%Positive MonthFeb 2026: +16.54% | -0.9%Neutral MonthMar 2026: -0.85% | +7.4%Positive MonthApr 2026: +7.44% | -7.5%Negative MonthMay 2026: -7.51% | -2.7%Negative MonthJun 2026: -2.73% | -0.3%*Neutral MonthJul 2026: -0.35% | β | β | β | β | β |
| 2025 | -2.2%Negative MonthJan 2025: -2.19% | -17.0%Negative MonthFeb 2025: -16.96% | +15.9%Positive MonthMar 2025: +15.88% | +5.6%Positive MonthApr 2025: +5.58% | -5.5%Negative MonthMay 2025: -5.46% | +3.4%Positive MonthJun 2025: +3.41% | -3.0%Negative MonthJul 2025: -2.95% | -5.4%Negative MonthAug 2025: -5.36% | +1.7%Neutral MonthSep 2025: +1.73% | +2.9%Positive MonthOct 2025: +2.87% | -6.3%Negative MonthNov 2025: -6.33% | -2.0%Neutral MonthDec 2025: -1.98% |
| 2024 | +9.3%Positive MonthJan 2024: +9.34% | +8.9%Positive MonthFeb 2024: +8.95% | -1.9%Neutral MonthMar 2024: -1.95% | +8.9%Positive MonthApr 2024: +8.88% | +2.7%Positive MonthMay 2024: +2.73% | +6.7%Positive MonthJun 2024: +6.74% | +5.4%Positive MonthJul 2024: +5.38% | -3.2%Negative MonthAug 2024: -3.21% | +4.6%Positive MonthSep 2024: +4.59% | -9.0%Negative MonthOct 2024: -8.98% | +2.6%Positive MonthNov 2024: +2.62% | -6.4%Negative MonthDec 2024: -6.37% |
| 2023 | +1.2%Neutral MonthJan 2023: +1.17% | +2.7%Positive MonthFeb 2023: +2.73% | +1.6%Neutral MonthMar 2023: +1.55% | +4.9%Positive MonthApr 2023: +4.92% | -1.5%Neutral MonthMay 2023: -1.50% | +9.4%Positive MonthJun 2023: +9.37% | +4.3%Positive MonthJul 2023: +4.27% | -8.0%Negative MonthAug 2023: -8.05% | +8.9%Positive MonthSep 2023: +8.94% | +1.2%Neutral MonthOct 2023: +1.15% | +3.4%Positive MonthNov 2023: +3.36% | +13.5%Positive MonthDec 2023: +13.52% |
| 2022 | +5.4%Positive MonthJan 2022: +5.41% | -2.9%Negative MonthFeb 2022: -2.88% | +3.7%Positive MonthMar 2022: +3.66% | +5.0%Positive MonthApr 2022: +4.96% | +2.4%Positive MonthMay 2022: +2.37% | -9.1%Negative MonthJun 2022: -9.08% | +1.0%Neutral MonthJul 2022: +1.01% | +7.3%Positive MonthAug 2022: +7.29% | -7.6%Negative MonthSep 2022: -7.60% | +7.5%Positive MonthOct 2022: +7.52% | -1.8%Neutral MonthNov 2022: -1.80% | -4.5%Negative MonthDec 2022: -4.53% |
| 2021 | β | β | β | β | β | +3.0%Positive MonthJun 2021: +3.02% | -1.8%Neutral MonthJul 2021: -1.82% | +2.7%Positive MonthAug 2021: +2.69% | +8.1%Positive MonthSep 2021: +8.11% | -2.6%Negative MonthOct 2021: -2.55% | +11.8%Positive MonthNov 2021: +11.75% | -1.2%Neutral MonthDec 2021: -1.18% |
| AvgΒ±SD |
Each cell is the percentage change in closing price from the end of the prior month to the end of this month. The bottom row shows the average return for that calendar month across the selected years, plus or minus one standard deviation β the range that historically contained roughly two-thirds of outcomes. Past monthly patterns are not a forecast of future returns.
This aggregates every month by calendar position β all Januaries together, all Februaries together, and so on β to show whether a given month has leaned positive or negative historically. βSimpleβ counts each month as +1 or β1. βWeightedβ gives larger moves more influence: +2 above +10%, β2 below β10%. With only 6 years of history for this asset, each monthβs score reflects a small number of observations β read it as a historical tendency, not a reliable seasonal pattern.
This tracks a running tally across the assetβs full price history: each month adds or subtracts based on whether it was positive or negative. A rising line means more positive months than negative so far; a flattening or falling line means recent months have leaned negative. This measures historical month-to-month consistency, not expected future performance.
Year-to-date return is calculated by dividing each dayβs closing price by the price on January 1st of that year (or the assetβs first available price if it began trading mid-year). The custom average line shows the mean YTD return at each calendar day across the selected years. The standard deviation band shows the range within which returns have historically fallen β at 1 SD, roughly two-thirds of years; at 2 SD, roughly 95%. Past year-to-date patterns do not predict future returns. The average and standard deviation band are computed from the year set chosen in βAverage fromβ, which is independent of which year lines are displayed. The current in-progress year is excluded from these calculations, since a partial year is not comparable to complete ones. Election-cycle groupings follow the US presidential calendar and are offered only for US and crypto assets.
Historical Performance
Revenue, profitability, and cash flow trends (βΉ Crores)
Revenue (10Y)
Operating Income (10Y)
Net Profit (10Y)
Operating Margin % (10Y)
Dividend Payout % (10Y)
Free Cash Flow (10Y)
Growth Summary
Latest fiscal year: Mar 2025
Historical Growth
Year-by-year revenue, profitability, and cash flow (βΉ Crores, last 10 years)
| Year | Revenue | Op. Income | Net Profit | CFO | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|---|
| Mar 2025 | βΉ41.43 K Cr | β | βΉ15.35 K Cr | β | β | 16.7% | -2.3% | -0.8% |
| Mar 2024 | βΉ42.39 K Cr | β | βΉ15.47 K Cr | β | β | 17.8% | -2.2% | 0.9% |
| Mar 2023 | βΉ43.34 K Cr | β | βΉ15.33 K Cr | β | β | 18.5% | 8.5% | -10.3% |
| Mar 2022 | βΉ39.93 K Cr | β | βΉ17.09 K Cr | β | β | 22.4% | 6.0% | 43.2% |
| Mar 2021 | βΉ37.67 K Cr | β | βΉ11.94 K Cr | β | β | 17.2% | 4.1% | 10.4% |
| Mar 2020 | βΉ36.19 K Cr | β | βΉ10.81 K Cr | β | β | 16.8% | 6.1% | 8.8% |
| Mar 2019 | βΉ34.12 K Cr | β | βΉ9.94 K Cr | β | β | 16.8% | 14.6% | 20.5% |
| Mar 2018 | βΉ29.77 K Cr | β | βΉ8.24 K Cr | β | β | 15.2% | 15.8% | 9.6% |
| Mar 2017 | βΉ25.71 K Cr | β | βΉ7.52 K Cr | β | β | 15.1% | 24.4% | 26.4% |
| Mar 2016 | βΉ20.67 K Cr | β | βΉ5.95 K Cr | β | β | 13.6% | 20.3% | 19.5% |
Financial Statements
Income statement, balance sheet, and cash flow (βΉ Crores, as reported)
Consolidated Figures in USD Millions.
| Unnamed: 0 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue / Net Sales | 15,115 | 17,177 | 20,666 | 25,710 | 29,765 | 34,119 | 36,186 | 37,666 | 39,933 | 43,343 | 42,391 | 41,431 | 41,031 |
| Total Expenses | 2,456 | 2,571 | 2,460 | 3,224 | 4,106 | 7,428 | 4,821 | 4,218 | 5,730 | 4,595 | 6,211 | 5,907 | 7,158 |
| EBIT / Operating Profit | 12,659 | 14,606 | 18,206 | 22,486 | 25,659 | 26,691 | 31,365 | 33,448 | 34,203 | 38,748 | 36,181 | 35,525 | 33,873 |
| OPM % | 84% | 85% | 88% | 87% | 86% | 78% | 87% | 89% | 86% | 89% | 85% | 86% | 83% |
| Other Income | 768 | 748 | 650 | 1,050 | 4,577 | 1,563 | 3,853 | 1,790 | 6,363 | 1,407 | 3,531 | 4,926 | 6,494 |
| Finance Costs | 3,168 | 3,979 | 5,135 | 6,304 | 7,591 | 9,091 | 9,814 | 8,501 | 8,211 | 9,744 | 9,047 | 9,479 | 9,577 |
| Depreciation & Amortisation | 3,996 | 5,085 | 6,180 | 7,663 | 9,091 | 10,201 | 11,073 | 11,712 | 12,551 | 12,940 | 12,558 | 12,352 | 12,143 |
| Profit Before Tax | 6,264 | 6,289 | 7,541 | 9,570 | 13,554 | 8,962 | 14,331 | 15,025 | 19,805 | 17,471 | 18,107 | 18,619 | 18,646 |
| Tax % | 28% | 21% | 21% | 21% | 39% | -11% | 25% | 21% | 14% | 12% | 15% | 18% | - |
| Net Profit / PAT | 4,497 | 4,979 | 5,948 | 7,520 | 8,245 | 9,939 | 10,811 | 11,936 | 17,094 | 15,333 | 15,475 | 15,354 | 15,438 |
| EPS (βΉ) | 4.84 | 5.35 | 6.40 | 8.09 | 8.86 | 10.69 | 11.62 | 12.83 | 18.38 | 16.49 | 16.64 | 16.51 | 16.60 |
| Dividend Payout % | 30% | 21% | 20% | 30% | 33% | 44% | 48% | 53% | 60% | 67% | 68% | 55% | - |
Peer Comparison
Energy sector peers, ranked by market cap
| Company | Market Cap | Revenue | P/E | P/B | EV/EBITDA | Rev G 1Y |
|---|---|---|---|---|---|---|
| POWER GRID CORPORATION OF INDIA LIMITEDthis co. | βΉ2.41 L Cr | βΉ41.43 K Cr | 15.60 | 2.44 | 8.85 | -2.3% |
| Reliance Industries Ltd | βΉ19.66 L Cr | βΉ5.15 L Cr | 50.30 | 3.52 | 24.71 | -3.1% |
| NTPC Limited | βΉ3.28 L Cr | βΉ1.70 L Cr | 16.40 | 1.95 | 10.05 | 5.0% |
| Oil And Natural Gas Corporation Ltd | βΉ3.07 L Cr | βΉ1.34 L Cr | 9.42 | 0.91 | 4.12 | 3.2% |
| Adani Power Limited | βΉ2.77 L Cr | βΉ49.71 K Cr | 24.60 | 5.77 | 11.44 | 7.0% |
| Adani Enterprises Ltd. | βΉ2.49 L Cr | βΉ26.60 K Cr | 108.00 | 8.92 | 54.58 | -16.7% |
| Indian Oil Corporation Ltd. | βΉ2.22 L Cr | βΉ7.56 L Cr | 9.71 | 1.18 | 4.30 | -2.4% |
| Industry Average | β | βΉ57.17 K Cr | 54.29 | 4.27 | 53.34 | 35.1% |
