Power Grid Corporation of India Limited — quarter ended 31 March 2026 (and year ended 31 March 2026)
Optional commentary: Standalone and consolidated financial results are presented in ₹ crore. Figures for quarters are not annualized.
| Sl. No. | Particulars | Quarter ended 31.03.2026 (Unaudited) | 31.12.2025 (Unaudited) | 31.03.2025 (Unaudited) | Year ended 31.03.2026 (Audited) | 31.03.2025 (Audited) |
|---|---|---|---|---|---|---|
| I | Income | |||||
| Revenue From Operations | 9,971.09 | 11,005.28 | 10,982.55 | 40,904.20 | 41,431.49 | |
| Other Income | 1,983.61 | 1,430.75 | 1,499.84 | 6,091.68 | 4,893.83 | |
| III | Total Income (I+II) | 11,954.70 | 12,436.03 | 12,482.39 | 46,995.88 | 46,325.32 |
| IV | Expenses | |||||
| Employee benefits expense | 692.77 | 654.36 | 764.24 | 2,643.92 | 2,593.00 | |
| Finance costs | 2,614.27 | 2,573.76 | 2,587.51 | 10,050.43 | 9,479.32 | |
| Depreciation and amortisation expense | 3,096.47 | 3,207.38 | 3,043.16 | 12,329.79 | 12,352.23 | |
| Other expenses | 1,777.45 | 931.57 | 995.61 | 5,212.64 | 3,561.96 | |
| Total Expenses (IV) | 8,180.96 | 7,367.07 | 7,390.52 | 30,236.78 | 27,986.51 | |
| V | Profit before Tax and Regulatory Deferral Account Balances (III-IV) | 3,773.74 | 5,068.96 | 5,091.87 | 16,759.10 | 18,338.81 |
| VI | Tax expense: | |||||
| Current tax – Current Year | 687.48 | 882.15 | 888.63 | 2,943.33 | 3,178.13 | |
| – Earlier Years | 0.02 | – | (0.30) | 0.02 | (0.30) | |
| Deferred tax | (5,284.10) | 287.03 | (81.99) | (4,928.86) | 88.03 | |
| (4,596.60) | 1,169.18 | 806.34 | (1,985.51) | 3,265.86 | ||
| VII | Profit for the period before Regulatory Deferral Account Balances (V-VI) | 8,370.34 | 3,899.78 | 4,285.53 | 18,744.61 | 15,072.95 |
| VIII | Net movement in Regulatory Deferral Account Balances – Income/(Expenses) (net of tax) | (3,817.54) | 260.39 | 50.64 | (2,823.61) | 280.62 |
| IX | Profit for the period (VII+VIII) | 4,552.80 | 4,160.17 | 4,336.17 | 15,921.00 | 15,353.57 |
| X | Other Comprehensive Income | |||||
| Items that will not be reclassified to profit or loss (net of tax) | 21.97 | (84.48) | (81.72) | 173.38 | (239.33) | |
| Items that will be reclassified to profit or loss (net of tax) | (27.60) | – | – | (27.60) | – | |
| XI | Total Comprehensive Income for the period (IX+X) | 4,547.17 | 4,075.69 | 4,254.45 | 16,066.78 | 15,114.24 |
| XII | Paid up Equity Share Capital (Face value of share: ₹10/- each) | 9,300.60 | 9,300.60 | 9,300.60 | 9,300.60 | 9,300.60 |
| XIII | Earnings per equity share (Face value of ₹10/- each) | |||||
| including movement in Regulatory Deferral Account Balances: Basic & Diluted (In ₹)* | 4.90 | 4.47 | 4.66 | 17.12 | 16.51 | |
| excluding movement in Regulatory Deferral Account Balances: Basic & Diluted (In ₹)* | 9.00 | 4.19 | 4.61 | 20.15 | 16.21 |
| S.No | Particulars | As at 31.03.2026 (Audited) | As at 31.03.2025 (Audited) |
|---|---|---|---|
| A. ASSETS | |||
| 1. Non-current assets | |||
| – Property, plant & equipment | 1,50,776.96 | 1,52,384.51 | |
| – Capital work-in-progress | 8,354.24 | 12,166.85 | |
| – Investment Property | 1.87 | 1.87 | |
| – Intangible assets | 1,373.17 | 1,250.35 | |
| – Intangible assets under development | 37.04 | 232.19 | |
| Financial assets | |||
| – Investments | 16,140.96 | 11,312.30 | |
| – Trade receivables | – | 41.72 | |
| – Loans | 57,325.75 | 36,249.28 | |
| – Other non-current financial assets | 4,714.11 | 5,285.72 | |
| – Other non-current assets | 5,788.73 | 4,072.24 | |
| Total Non-current assets | 2,44,512.83 | 2,22,997.03 | |
| 2. Current assets | |||
| – Inventories | 1,446.70 | 1,377.82 | |
| Financial assets | |||
| – Investments | 251.22 | – | |
| – Trade receivables | 10,848.88 | 7,273.25 | |
| – Cash and cash equivalents | 5,162.11 | 3,723.53 | |
| – Bank balances other than Cash and cash equivalents | 2,539.07 | 2,695.87 | |
| – Loans | 1,431.04 | 716.23 | |
| – Other current financial assets | 6,139.54 | 8,855.09 | |
| – Other current assets | 370.64 | 291.09 | |
| Total Current assets | 28,189.20 | 24,932.88 | |
| – Assets Classified as Held for Sale (refer Note 4 & 5) | 214.51 | – | |
| Total Current assets including Assets held for sale | 28,403.71 | 24,932.88 | |
| 3. Regulatory Deferral Account Balances | 6,518.36 | 9,939.76 | |
| TOTAL ASSETS | 2,79,434.90 | 2,57,869.67 | |
| B. EQUITY AND LIABILITIES | |||
| 1. Equity | |||
| – Equity Share capital | 9,300.60 | 9,300.60 | |
| – Other Equity | 90,628.01 | 82,915.05 | |
| Total Equity | 99,928.61 | 92,215.65 | |
| 2. Liabilities | |||
| (i) Non-current liabilities | |||
| Financial Liabilities | |||
| – Borrowings | 1,21,071.80 | 1,09,857.95 | |
| – Lease Liabilities | 34.09 | 39.30 | |
| – Other non-current financial liabilities | 3,541.61 | 3,523.81 | |
| Provisions | 799.28 | 723.77 | |
| Deferred tax liabilities (Net) | 5,132.89 | 10,038.68 | |
| Other non-current liabilities | 8,438.00 | 7,965.29 | |
| Total Non-current liabilities | 1,39,017.67 | 1,32,148.80 | |
| (ii) Current liabilities | |||
| Financial liabilities | |||
| – Borrowings | 26,937.21 | 21,107.01 | |
| – Lease Liabilities | 7.44 | 9.04 | |
| – Trade payables | |||
| (A) total outstanding dues of micro enterprises and small enterprises | 107.32 | 73.67 | |
| (B) total outstanding dues of creditors other than micro enterprises and small enterprises | 598.16 | 494.01 | |
| – Other current financial liabilities | 8,749.56 | 7,446.74 | |
| – Other current liabilities | 3,396.19 | 3,605.26 | |
| Provisions | 692.74 | 605.46 | |
| Current tax liabilities (net) | – | 164.03 | |
| Total Current liabilities | 40,488.62 | 33,505.22 | |
| TOTAL EQUITY AND LIABILITIES | 2,79,434.90 | 2,57,869.67 |
| Sl. No. | Particulars | For the Year ended 31.03.2026 (Audited) | For the Year ended 31.03.2025 (Audited) |
|---|---|---|---|
| A | CASH FLOW FROM OPERATING ACTIVITIES | ||
| – | Profit Before Tax & Regulatory Deferral Account Balances | 16,759.10 | 18,338.81 |
| – | Add: Net movement in Regulatory Deferral Account Balances (net of tax) | (2,823.61) | 280.62 |
| – | Add: Tax on Net movement in Regulatory Deferral Account Balances | (597.79) | 59.40 |
| – | Profit Before Tax (including net movement in Regulatory Deferral Account Balances) | 13,337.70 | 18,678.83 |
| – | Adjustment for: | ||
| – | Depreciation & amortisation expenses | 12,329.79 | 12,352.23 |
| – | Transfer from Grants in Aid | (332.83) | (330.71) |
| – | Deferred revenue – Advance against Depreciation | (89.12) | (108.48) |
| – | Provisions/impairment/bad debt etc | 243.77 | 73.78 |
| – | Changes in fair value of financial instruments through profit or loss | (15.48) | (25.26) |
| – | Profit on sale of Investment in Subsidiaries/Joint Ventures/Associates | – | (245.60) |
| – | Net Loss/(Profit) on Disposal / Write off of Property, Plant & Equipment | (10.88) | 1.64 |
| – | Income from investment Property | (0.81) | (0.54) |
| – | Deferred Foreign Currency Fluctuation Asset | (569.04) | 229.87 |
| – | Deferred Income from Foreign Currency Fluctuation | 750.03 | (120.91) |
| – | Regulatory Deferral Account Debit Balances | 3,421.40 | (340.02) |
| – | Finance Costs | 10,050.43 | 9,479.32 |
| – | Provisions/impairment written back | (65.56) | (97.58) |
| – | Derivative- Premium Amortization | 16.73 | – |
| – | FERV loss / (gain) | 1,203.84 | 129.71 |
| – | Gain on sale/Change in Fair Value of Current Investment Measured at FVTPL | (2.77) | (17.97) |
| – | Interest income on Deposits, Bonds and loans to Subsidiaries & Joint Ventures (JVs), PG InvIT etc | (3,570.73) | (2,506.72) |
| – | Surcharge income | (52.67) | (123.43) |
| – | Income from finance lease | (140.15) | (93.79) |
| – | Dividend income | (1,713.87) | (1,377.87) |
| – | Operating profit before Changes in Assets and Liabilities | 21,452.08 | 16,877.67 |
| – | Adjustment for Changes in Assets and Liabilities: | ||
| – | (Increase)/Decrease in Inventories | (68.88) | (74.51) |
| – | (Increase)/Decrease in Trade Receivables | (3,795.50) | 3,462.13 |
| – | (Increase)/Decrease in Other Financial Assets | 3,201.21 | (4,216.27) |
| – | (Increase)/Decrease in Other Non-current Assets | (315.23) | (13.71) |
| – | (Increase)/Decrease in Other Current Assets | (79.55) | (89.20) |
| – | Increase/(Decrease) in Liabilities & Provisions | 1,195.07 | (281.78) |
| – | 137.12 | (1,213.34) | |
| – | Cash generated from operations | 34,789.78 | 35,556.50 |
| – | Direct taxes paid | (2,944.28) | (2,986.29) |
| – | Net Cash from Operating Activities | 31,982.62 | 31,356.87 |
| B | CASH FLOW FROM INVESTING ACTIVITIES | ||
| – | Purchase of Property, Plant & Equipment, Intangible Assets, Capital Work in Progress etc. (Including Advances for Capital Expenditure) | (5,604.33) | (5,142.74) |
| – | Proceeds on sale of Property, Plant & Equipment and Intangible Assets etc. | 30.80 | 22.70 |
| – | Receipt of Grant | – | 4.65 |
| – | Investment in Mutual Funds | (3,385.00) | (1,704.00) |
| – | Sale of Mutual Funds | 3,159.65 | 2,337.67 |
| – | Investments in Subsidiaries, JVs & others (Net) | (5,021.63) | (2,352.98) |
| – | Loans & Advances to Subsidiaries, JVs & Associates (Including repayments) | (21,455.72) | (14,859.55) |
| – | Financial lease receipts | 250.48 | 269.28 |
| – | Bank balances other than cash and cash equivalents | 318.59 | (283.65) |
| – | Interest received on Deposits, Bonds and Loans to Subsidiaries & JVs, PG InvIT etc | 3,246.44 | 2,286.78 |
| – | Income received from investment property | 0.81 | – |
| – | Surcharge received | 198.19 | 148.33 |
| – | Dividend received | 1,713.87 | 1,376.70 |
| – | Net Cash used in Investing Activities | (26,547.85) | (17,896.81) |
| Description | Current Year (₹ Crore