Power Grid Corporation of India Ltd

AGM details

• Date/time: 20 August 2026 at 11:00 IST; Mode: VC/OAVM.

Key resolutions

• Item 1: Adopt Audited Financial Statements including Board Report; Ordinary; passed with 93.93% assent.
• Item 2: Declare final dividend for FY 2025-26; Ordinary; assented 99.80%.
• Item 3: Re-appoint Dr. Yatindra Dwivedi; Ordinary; assent 77.99%.
• Item 4: Re-appoint Shri Naveen Srivastava; Ordinary; assent 75.31%.
• Item 5: Remuneration of Statutory Auditors for 2026-27; Ordinary; assent 96.14%.
• Item 6: Appoint Shri Burra Vamsi Rama Mohan as Chairman & MD; Ordinary; assent 91.92%.
• Item 7: Ratify Cost Auditors’ remuneration for 2026-27; Ordinary; assent 99.80%.
• Item 8: Increase borrowing limit to 2,20,000 crore; Special; assent 99.50%.
• Item 9: Borrowing limit to 35,000 crore via debentures; Special; assent 99.50%.
• Item 10: Raise funds up to 35,000 crore via private placement; Special; assent 99.50%.

Director changes

• Dr. Yatindra Dwivedi reappointed; retires by rotation.
• Shri Naveen Srivastava reappointed; retires by rotation.
• Shri Burra Vamsi Rama Mohan appointed as Chairman & MD; not liable to retire.

Auditor actions

• Remuneration of Statutory Auditors for 2026-27 fixed.
• Remuneration of Cost Auditors for 2026-27 ratified.

Dividend details

• Final dividend approved for FY 2025-26; amount per share not disclosed.

Material related party transactions

• No material RPTs disclosed in this update.

Other material approvals

• Borrowing and fund-raising approvals aligned with debt strategy.

Inter-State transmission BOOT project win (Gujarat)

• Selected as successful bidder under tariff-based bidding for Gujarat IS-T system.
• Project scope covers 6,500 MW: Jam Khambhaliya REZ Phase II (5,500 MW) and Jamnagar Phase I (1,000 MW).
• Tariff discovered at Rs 822.91 crore per annum.
• LOI received on 21 August 2026.
• Project includes GIS substation at Kalyanpur and 765 kV transmission lines across Gujarat, plus ICT augmentation.

AGM Details

• AGM held on 20 August 2026 at 11:00 AM IST via VC/OAVM.
• Quorum met; 181 members attended via VC/OAVM.

Key Resolutions

• Ordinary: Adopt audited financial statements for year ended 31 March 2026.
• Ordinary: Confirm interim dividends and declare final dividend for 2025-26.
• Ordinary: Re-appoint Dr. Yatindra Dwivedi as Director after rotation.
• Ordinary: Re-appoint Naveen Srivastava as Director after rotation.
• Ordinary: Board to fix remuneration of Statutory Auditors for 2026-27.
• Ordinary: Appoint Burra Vamsi Rama Mohan as Chairman and Managing Director, not liable to retire.
• Ordinary: Ratify remuneration of Cost Auditors for 2026-27.
• Special: Enhance borrowing limits from ₹1,80,000 crore to ₹2,20,000 crore.
• Special: Enhance borrowing limit to ₹35,000 crore for domestic debt via debentures/bonds.
• Special: Raise funds up to ₹35,000 crore via private placement of debentures/bonds for 2027-28.

Voting and approvals

• Voting conducted via remote e-voting and Insta Poll; results to be announced on company and exchange websites.

Cessation of CFO

• Shri Venkata Subrahamanayam Vallurie, CFO, ceased 20 Aug 2026 as CFO due to Taori's appointment as Director (Finance).

Acquirer and target

• Target: Power Grid Corporation of India Ltd.
• Acquirer: Life Insurance Corporation of India Central Office and PACs.
• Promoter group status: Not a promoter or promoter group.

Listing and pre-holding

• Exchanges: NSE and BSE listed.
• Pre-holding: 464,044,180 voting shares, 4.989%.

Acquisition details

• Acquired: 1,909,000 voting shares (0.021%).
• Mode: Open market purchase.
• Date: 17 August 2026.

Post-holding and capital

• Post-holding: 465,953,180 voting shares, 5.010%.
• Equity share capital before and after: 93,006,038,190.00.

Appointment

• Shri Amol Babulal Taori appointed as Director (Finance) of PowerGrid, effective 18 August 2026.
• Term of five years from date of assumption of charge, or until further orders.
• Profile: Chartered Accountant with ~30 years' experience; formerly Executive Director-In-Charge International Trade at HPCL.
• Relinquishment of Director (Finance) by Dr. Yatindra Dwivedi on 18 August 2026.
• Taori not related to Directors/KMP and not debarred by SEBI or any authority.
• Disclosures per SEBI Master Circular enclosed at Annexure-A.

Appointment of Director (Finance)

• Ministry of Power conveyed the appointment of Shri Amol Babulal Taori to POWERGRID as Director (Finance).
• He is currently Executive Director (International Trade) at HPCL.
• Term is five years from assumption of charge, or until further orders.
• Further details will be informed upon assumption of charge.

Meeting Details

• Date: 07 August 2026
• Time: 11:00 IST
• Mode: Virtual webinar
• Organizer: POWERGRID

Participants

• Key participants: Senior Management team

Purpose

• Discuss business and outlook post Q1 FY2026 results; interact with investors & analysts

Additional Notes

• Audio and video recordings of the webinar are available

Business Overview

• Flagship Indian power transmission utility with 1,86,595 ckm lines and 291 substations.
• Core segments: transmission charges, consultancy, and telecom; expanding into data centres and cross-border connectivity.
• FY27 capex ₹37,000 crore and capitalization ₹30,000 crore to support ISTS/TBCB growth.
• First SynCon scheme under TBCB; two synchronous condensers to strengthen grid.
• Indigenously developed 132 kV Mobile GIS; 400 kV variant under implementation.
• JBIC green loan of JPY 80 billion; strengthens liquidity and financing options.
• FY25-26 annual accounts awaiting shareholders’ approval.

Key Operational Highlights

• Q1FY27 commissioned 1,635 ckm lines and 10,500 MVA transformation capacity.
• Commissioned 765 kV Raichur–Koppal II line; 400 kV Gadag II–Koppal II; 400 kV Bikaner II–Bikaner III.
• Capex FY27 guidance ₹37,000 crore; capitalization ₹30,000 crore.
• TBCB outcomes: annual tariff ~₹2,200 crore; cumulative tariff market share ~47%.
• Maiden SynCon scheme; reactive power support for RE-heavy grid.
• Transmission outlook: ~₹1.75 lakh crore works in hand.
• Bidding pipeline ~₹1.19 lakh crore; under-bidding and floated projects across ISTS/InSTS.

Financial Performance

• Consolidated total income ₹11,697 crore; YoY +2%; QoQ -2%.
• Consolidated PAT ₹3,598 crore; YoY -1%; QoQ -21%.
• Standalone total income ₹11,370 crore; YoY +1%; QoQ -5%.
• Standalone PAT ₹3,411 crore; YoY -7%; QoQ -25%.
• Debt ₹1,45,586 crore; Net worth ₹1,04,028 crore; Debt–Equity 58:42.
• Earnings per share: Consolidated ₹3.87; Standalone ₹3.67.
• System availability domestic 99.80%; overall 99.5%+.

Capital Structure & Liquidity

• Green loan with JBIC of JPY 80 billion.
• Short-term borrowings ₹1,600 crore.

Strategic Priorities & Outlook

• Capex plan for FY27: ₹37,000 crore; funding alignment to support growth.
• Total works in hand ~₹1.75 lakh crore; bidding pipeline ~₹1.19 lakh crore.
• Strengthening grid via SynCon, GIS innovations, and 132 kV mobile GIS expansions.
• GH2 and data-centre driven demand to shape future transmission opportunities.

Governance & Leadership

• FY25-26 annual accounts awaiting shareholder approval.