In Week of Mar 28, 2026, Power Grid Corporation of India Ltd (Power - Transmission/Equipment) is outperforming Nifty 500 with +22.9% relative strength. Fundamentals: Average. On a 7-week streak.
Weekly presence in the outperformers list. Green = beating Nifty 500 by 10%+ that week.
Based on Q3 FY26 earnings • Updated Feb 22, 2026
What: Exceeding initial INR 20,000 cr target with INR 18,700 cr already commissioned as of Jan 31
Impact: +₹2500 Cr revenue
“As on 31st January, 2026, we have commissioned projects worth INR18,700 crores. And we have a target of achieving more than INR22,000 crores as against our target of INR20,000 crores”
What: Significant increase from FY26's INR 29,200 cr actual capex
Impact: +₹4500 Cr revenue
“For FY27, capex will be INR37,000 crores. In FY28, it will be INR45,000 crores”
What: Lowest ever trade receivable days improving cash conversion
“Trade receivable days has reduced to 24.65 days at the end of Q3, which is the lowest ever”
Earnings deceleration risks from management commentary
Trigger: Commissioning delays
Impact: -150 bps margin impact
Management view: Our debt has increased from INR1,29,000 crores to INR1,43,000 crores because number of projects are going on now
Monitor: Interest coverage ratio
Trigger: Execution challenges
Impact: -100 bps margin impact
Management view: In Q3 also, you can see that it was only INR12,000 crores capitalization
Monitor: Monthly commissioning pace
Key quotes from recent conference calls
“In nine months, our capex has been INR26,761 crores as against INR17,651 crores. We have already crossed target of INR28,000 crores capex, which we committed, which we had target with Government of India. We have already achieved INR29,200 crores capex. — R.K. Tyagi”
“As on 31st January, 2026, we have commissioned projects worth INR18,700 crores. And we have a target of achieving more than INR22,000 crores as against our target of INR20,000 crores, which we committed during this year. So, we want to surpass that target. — R.K. Tyagi”
“For FY27, capex will be INR37,000 crores. In FY28, it will be INR45,000 crores. — R.K. Tyagi”
“Trade receivable days has reduced to 24.65 days at the end of Q3, which is the lowest ever. — Unidentified Speaker”
Forward-looking targets from management for FY26
Implied PAT Growth
5%
Capex Plan
₹32000 Cr
Key Milestones
• INR 22,000 cr project commissioning by March 2026
• INR 37,000 cr capex in FY27
Revenue, profit and margin growth rates
| Metric | YoY | 3Y CAGR | Trend |
|---|---|---|---|
| Revenue | +10% | +3% | Stable |
| PAT (Net Profit) | +8% | -3% | Inflection Up |
| OPM | 86.0% | +100 bps | Volatile |
The above analysis is parsed from publicly available earnings call transcripts. This is educational research only — not investment advice. Last updated Feb 22, 2026.
Based on publicly available financial data. This is educational research, not investment advice.
Power Grid Corporation of India Ltd's latest quarterly results (Dec 2025) show
Power Grid Corporation of India Ltd's profit is growing with an turning around (inflection up) trend.
Power Grid Corporation of India Ltd's revenue growth trend is stable.
Power Grid Corporation of India Ltd's operating margin is volatile.
Power Grid Corporation of India Ltd's long-term compounding rates
Power Grid Corporation of India Ltd's earnings growth is turning around (inflection up) with improving on a sequential basis.
Power Grid Corporation of India Ltd's trailing twelve month (TTM) performance
Power Grid Corporation of India Ltd appears fairly valued based on our fair value analysis.
Power Grid Corporation of India Ltd's current PE ratio is 17.7x.
Power Grid Corporation of India Ltd's current PE is 17.7x.
Power Grid Corporation of India Ltd's price-to-book ratio is 2.8x.
Power Grid Corporation of India Ltd is rated Average with a fundamental score of 55.18/100. This score is calculated from objective financial metrics
Power Grid Corporation of India Ltd has a debt-to-equity ratio of N/A.
Power Grid Corporation of India Ltd's return ratios over recent years
Power Grid Corporation of India Ltd's operating cash flow is positive (FY2025).
Power Grid Corporation of India Ltd's current dividend yield is 3.05%.
Power Grid Corporation of India Ltd's shareholding pattern (Dec 2025)
Power Grid Corporation of India Ltd's promoter holding has remained stable recently.
Power Grid Corporation of India Ltd has been outperforming Nifty 500 for 7 consecutive weeks, indicating building momentum.
Power Grid Corporation of India Ltd is an established outperformer with 7 weeks of consecutive Nifty 500 outperformance.
Power Grid Corporation of India Ltd has 3 key growth catalysts identified from recent earnings analysis
Power Grid Corporation of India Ltd has 2 key risks worth monitoring
In Q3 FY26, Power Grid Corporation of India Ltd's management highlighted
Power Grid Corporation of India Ltd's management has provided the following forward guidance for FY26
Based on quantitative research signals, here is why Power Grid Corporation of India Ltd may be worth studying
Power Grid Corporation of India Ltd investment thesis summary:
Power Grid Corporation of India Ltd's forward outlook based on current data signals
The above FAQs are generated from publicly available earnings data and conference call transcripts. This is educational research only. Sector Alpha is not SEBI registered and does not provide investment advice.
