Prime Highlights:
- Power Grid’s FY26 capital expenditure has already exceeded guidance, reaching ₹29,200 crore.
- Q3FY26 revenue and profit after tax showed strong growth, reflecting steady financial performance.
Key Facts:
- Earnings per share rose to ₹4.50 in Q3FY26 from ₹4.15 in Q3FY25.
- The board approved a second interim dividend of ₹3.25 per share for FY26, with eligibility on February 9 and payment on February 27, 2026.
Background:
Shares of Power Grid Corporation of India Ltd. (PGCIL) jumped by as much as 5% on Monday, February 2, following the company’s update at its recent analyst meet, signaling strong investor confidence. The state-run power utility said its FY26 capital expenditure (capex) and capitalisation plans remain firmly on track and are expected to surpass annual guidance.
The company’s earlier guidance for FY26 capex was ₹28,000 crore, but actual capex as of January 31, 2026, has already reached ₹29,200 crore. Capitalisation, which was targeted at ₹20,000 crore for the year, reached ₹18,700 crore by the end of January, showing steady progress in its infrastructure projects.
Power Grid’s Q3FY26 financial performance was strong, with revenue at ₹12,395 crore, up from ₹11,476 crore in Q2FY26 and ₹11,233 crore in Q3FY25. Profit after tax (PAT) also showed healthy growth, reaching ₹4,185 crore in the quarter, compared with ₹3,566 crore in the preceding quarter and ₹3,861 crore a year earlier.
For the nine-month period of FY26, net profit was ₹35,067 crore, against ₹33,516 crore in the same period of FY25. Cumulative PAT for the nine months stood broadly flat at ₹11,318 crore, compared to ₹11,378 crore last year. Earnings per share rose to ₹4.50 in Q3FY26 from ₹4.15 in Q3FY25, showing steady profitability.
The board approved a second interim dividend of ₹3.25 per share for FY26, equal to 32.5% of the paid-up capital. Shareholders on February 9, 2026, will be eligible for the dividend, which will be distributed on February 27, 2026.
The share rise reflects investor confidence, with strong capex and earnings likely to support FY26 growth.
