Shares of Power Grid Corporation of India Ltd gained after it announced a rise in its capital expenditure (capex) guidance for FY26 to ₹35,000 crore, up from its earlier estimate of ₹32,000 crore, according to a presentation shared with exchanges.
The company has also revised its capitalisation target for the fiscal year to ₹25,000 crore, up from its earlier guidance of ₹22,000 crore, it announced in an exchange filing on Monday, March 23.
The upward revision comes after strong execution, with Power Grid already achieving capex of ₹35,540 crore as of March 22, 2026, which is about 102% of its latest guidance. Capitalisation stood at ₹22,749 crore, or around 91% of the revised target.
The company said execution efficiency and adaptability helped it navigate a challenging project environment, supporting higher-than-expected capex delivery and steady capitalisation.
Power Grid highlighted that India’s transmission capex cycle remains structurally strong, driven by rising power demand, renewable energy expansion, and increasing grid complexity. The company expects these factors to sustain growth, visibility and earnings over the medium term.
The utility also outlined a robust pipeline, with over ₹1.48 lakh crore of works in hand, alongside a long-term opportunity exceeding ₹15 trillion in the transmission sector.
Looking ahead, Power Grid has indicated a capex plan of about ₹82,000 crore over FY27–FY28, with annual capex expected to scale up further in subsequent years, supported by a strong project pipeline and continued investments in transmission infrastructure.
In February, the government approved enhanced delegation of powers to Power Grid India under existing Department of Public Enterprises (DPE) guidelines for Maharatna CPSEs dated February 4, 2010.
The move raised the company’s equity investment limit to ₹7,500 crore per subsidiary from ₹5,000 crore, while retaining the overall cap at 15% of the company’s net worth.
Following the guidance announcement, shares of the company rose more than 2% from the day’s lows, and were trading 298.05 as of 11.19 am on Monday. The stock has gained just over 3% in the last six months.
