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Shareholding Info
  • Promoters
    51.34 %
  • Foreign institutions-FII
    32 %
  • Other domestic institutions
    3.73 %
  • Retail and other
    3.44 %
  • Mutual Funds
    9.49 %

Power Grid overview

Power Grid Corporation of India Limited is a central public sector undertaking engaged in power transmission. The Government of India holds a stake of 51.34%. The balance of 48.66% stake is held by the public. This central public sector undertaking has been a listed company since 2007. Power Grid’s business verticals include transmission, consultancy and telecom. The company's transmission EHV / HV networks segment involves grid strengthening schemes and green energy corridors, among others. Under its consultancy segment, the company operates capacity-building assignments and provides recruitment, training and studies both internationally and domestically. In the telecom segment, the company acts as a neutral carrier in the point-to-point bandwidth leasing business. Its telecom business leverages Power Grid's company-wide transmission infrastructure.
A few of its existing joint ventures include Powerlinks Transmission Limited, Torrent Power Grid Limited, North-East Transmission Company Limited, Parbati-Koldam Transmission Company Limited, Teesta Valley Power Transmission Limited, National High Power Test Laboratory Pvt. Limited and Energy Efficiency Services Ltd.

Power Grid journey

The key milestones for Power Grid since its inception are as follows:
  • 991: NPCIL’s transmission assets are transferred to Power Grid.
  • 1992: Power Grid takes over transmission assets of Neyveli Lignite Corporation Ltd.
  • 1993: Power Grid takes over transmission assets of Tehri Hydro Development Corporation Ltd.
  • 1994: Power Grid was entrusted with controlling the existing load dispatch centers.
  • 1994-1996: Power Grid is entrusted with 5 regional load dispatch and communication centers in a phased manner.
  • 1998: Power Grid is notified as the Central Transmission Utility by the government.
  • 2007: Equity shares listed on the stock exchanges.
  • 2009: Power System Operation Corporation Limited, Power Grid’s subsidiary, is incorporated.
  • 2010: Fresh equity shares on stock exchanges listed through follow-on public offers.
  • 2013: The central public sector undertaking issues maiden foreign currency bonds of US$500 million.
  • 2016: Commissioned the Indo-Nepal cross border.
  • 2017: In July, 765 kV D/C Nizamabad-Hyderabad was commissioned.
  • 2018: In March, 765 kV Jabalpur-Orai- Aligarh D/C IR System was commissioned. In December, the guidelines for the export and import (cross border) of electricity were issued.
  • 2020: By March, the transmission system linked to GEC-I is completed. By June, the transmission system linked to Solar Ultra Mega Power Projects is complete.
  • 2021: The Power Grid Infrastructure Investment Trust is the first InvIT sponsored by a Central Public Sector Enterprise and public offer of ₹7,735 crore launched by the central public sector undertaking.
  • 2022: REMC Telangana is commissioned. All the REMs assigned to Power Grid are operational.

Power Grid - Initial Public Offer (IPO)

Power Grid Corporation of India launched its IPO in September 2007. The price band for the issue was fixed at ₹44 to ₹52 a share. PowerGrid InvIT made its debut at ₹104 per unit, which is a 4% premium over its issue price, on BSE. The IPO ran from April 29 to May 3, 2021. It was subscribed 4.83 times.

Power Grid products

Power Grid operates the transmission of electricity through the Inter-State Transmission System. Its business segments include:
  • Transmission
  • Consultancy
  • Telecom
Power Grid is exploring business opportunities in smart grid / smart city projects, energy audit and energy efficiency, integration of solar power projects, dedicated transmission system for railways and other bulk users, and off-shore wind generation integration and distribution (wire business).
Power Grid stock price return in 5 years – 39.27%.

Power Grid business highlights

The central public sector undertaking's key verticals are:



Transmission revenue


Consultancy, project management and supervision fees


Telecom revenue


Interest income


Dividend income


Other income




Power Grid performance highlights

EBITDA (FY2021-22)

₹37,330 crore

Profit (FY2021-22)

₹16,824 crore

Share price return in last 3 years


ROCE (FY2021-22)


ROE (FY2021-22)


Power Grid management

  • Chairman & Managing Director: Shri K Sreekant
  • Director (Personnel): Shri Vinod Kumar Singh
  • Director (Projects): Shri Abhay Choudhary
  • Director (Operations): Shri R K Tyagi
  • Director (Finance): Shri G Ravisankar
  • Government Nominee Director: Shri Mohammad Afzal
  • Government Nominee Director: Shri Dilip Nigam
  • Independent Director: Shri Chetan Bansilal Kankariya
  • Independent Director: Shri Onkarappa K N
  • Independent Director: Shri Ram Naresh Tiwari

Indian power transmission industry overview

The following are the key players in the power generation and distribution industry - –

Key Players

Market Capitalization

November 2022

(in crore)


Adani Trans






Adani Power



TATA Power



JSW Energy


Size of the Indian power transmission industry

  • As of July 2022, India has an installed power capacity of 404 GW.
  • From FY2012-13 to FY2018-19, the transmission line length grew at a CAGR of over 7.5%.
  • As of May 2022, India has a total thermal installed capacity of 236 GW.
  • The total Foreign Direct Investment (FDI) inflow in the power industry was USD 15.89 billion from April 2000 to March 2022. This was 2.77% of the country’s total FDI inflow.

Industry growth prospects

The power sector has been identified by the government as a key focus sector for promoting sustained industrial growth. The government has announced the issuance of sovereign green bonds and granting of infrastructure status to energy storage systems.
India’s power market is expected to grow at a CAGR of over 5% from 2021 to 2035.
The estimates by the Central Electricity Authority suggest that the country's power requirement will reach 817 GW by the year 2030. By FY2029-30, it estimates that renewable energy generation's share would rise to 44% from 18%. According to the CEA, thermal energy's shares are expected to come down to 52% from 78%.
By 2030, the government intends to set up 500 GW of renewable energy capacity.

Power Grid growth prospects

Power Grid has identified a few areas where it will focus on to acquire new business.
  • Through Advanced Metering Infrastructure, Power Grid intends to be a service provider to various utilities for Advanced Metering consisting of communication systems, smart meters, and control center applications on CAPEX and OPEX models.
  • Another area where investments will be made is battery energy storage systems. The CEA expects the integration of around 27 GW, 108 GWh into the grid by FY2029-30.
  • The firm is also considering solar energy generation opportunities. The central public sector undertaking has set up over 6 MW of rooftop solar PV systems for captive uses. It is now looking into large-scale solar PV plants on vacant land located on their premises.

Risks and concerns

  • Some of the challenges facing the power sector include the shortage of domestic coal supplies, lack of transmission capacity, and rising non-performing assets.
  • The rising power generation costs on account of limited fuel availability and the weak financial health of State Discoms have led to suppressed demand projections by State Discoms.
  • Renewable energy projects are not able to match the energy and peak demand growth.


KFin Technologies Limited
Ph: 040-67162222

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