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    Regulated Electric
Powergrid Infrastructure Invesment Trust

Powergrid Infrastructure Invesment Trust

PGINVIT.NS
Powergrid Infrastructure Invesment TrustIN flagNational Stock Exchange of India
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INR
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(- -)

Recent

price

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P/E

ratio

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div

yld

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ROIC.AI

2018
2019
2020
2022
2023
2024
2025
TTM
FRC
3.78
10.74
14.55
14.92
14.13
13.9
13.92
13.82
Revenue per Share
1.25
2.73
4.16
6.21
-2.14
10.18
12.92
14.89
Basic EPS, GAAP
-31.88
-3.3
10.38
10.48
12.78
13.25
13.3
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Free Cash Flow per Basic Share
0.23
0.91
2.42
8.36
12
12
12
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Dividend per Share
5.3
12.63
16
109.82
84.32
82.51
83.43
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Book Value per Share
5.43
12.42
15.58
108.7
87.13
85.55
80.35
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Tangible Book Value per Share
910
910
910
816
910
910
910
910
Basic Weighted Avg Shares
3,436
9,772
13,243
12,173
12,858
12,653
12,665
12,580
Sales/Revenue/Turnover
70.52
68.52
68.47
71.43
68.6
67.73
68
67.96
Operating Margin (%)
932
2,750
3,794
2,698
3,148
3,154
3,167
3,169
Depreciation Expense
1,141
2,481
3,788
5,068
-1,951
9,267
11,757
13,547
Net Income, GAAP
11.2
28.72
22.28
12.18
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10.37
13.34
15.52
Effective Tax Rate (%)
33.22
25.39
28.61
41.64
-15.18
73.24
92.83
107.69
Profit Margin (%)
-6,373
-1,575
-4,498
8,842
8,614
8,567
8,825
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Working Capital
52,367
53,369
44,293
5,720
5,692
5,664
10,635
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LT Debt
5,135
12,183
15,337
99,251
83,279
81,774
77,212
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Total Equity
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7.45
10.39
8.86
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8.71
8.51
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Return on Invested Capital (%)
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7.59
10.62
6.43
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10.39
14.13
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Return on Capital (%)
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30.41
29.08
9.73
-2.35
12.21
15.57
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Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Jun'26
Sep'26
Dec'26
ST Debt
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83
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LT Borrowings
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10,594
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LT Finance Leases
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Preferred Equity and Hybrid Capital
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- -
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Shares Outstanding
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910
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Market Capitalization
- -
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Working Capital

FRC

•

in mil. unless spec.
Jun'26
Sep'26
Dec'26
Total Current Assets
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9,220
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Cash, Cash Equivalents & STI
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6,769
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Accounts Receivable, Net
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2,086
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Inventories
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309
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Total Current Liabilities
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246
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Payables & Accruals
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ST Debt
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83
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Deferred Revenue
- -
- -
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Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
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109.91%
-5.58%
Free Cash Flow
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-76.8%
0.4%
Net Income, GAAP
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-120.01%
26.86%
Sales/Revenue/Turnover
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6.31%
0.09%
Total Cash Common Dividend
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Quarterly Revenue

FRC

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in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
3,137
3,182
3,192
3,142
12,653
2025
3,156
3,200
3,196
3,113
12,665
2026
3,133
3,166
3,167
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Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
2.05
3.18
2.18
- -
10.18
2025
2.12
1.1
2.15
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12.92
2026
2.1
3.07
2.17
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Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
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12
2025
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12
2026
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Business
Powergrid Infrastructure Investment Trust (PGInvIT) is an infrastructure investment trust that owns, constructs, operates, maintains and invests in power transmission assets in India. The trust's initial portfolio comprises five power transmission projects across five states, including 11 transmission lines consisting of six 765 kV lines and five 400 kV lines with a total circuit length of approximately 3,699 circuit kilometers; three substations with an aggregate transformation capacity of 6,630 MVA; and 1,956 km of optical ground wire, each supported by long-term transmission service agreements of 35 years from the scheduled commercial operation date. Settled in 2020 by Power Grid Corporation of India Limited pursuant to the Indian Trusts Act, 1882, and registered with the Securities and Exchange Board of India on January 7, 2021 (registration IN/InvIT/20-21/0016), PGInvIT is headquartered in Gurugram, India, with its units listed on the National Stock Exchange and Bombay Stock Exchange since May 2021. In recent developments, PGInvIT completed the acquisition of an additional 26% stake in POWERGRID Kala AMB Transmission Limited from Power Grid Corporation of India Limited for INR 428 million on December 30, 2024, increasing its ownership in this subsidiary; the board also granted in-principle approval in November 2025 for forming a consortium with POWERGRID to bid on up to two tariff-based competitive bidding projects with a combined estimated cost of INR 500 crore, where PGInvIT would hold a 74% stake. These strategic expansions enhance PGInvIT's asset base and support its focus on India's power transmission infrastructure, targeting stable returns through consistent quarterly distributions, as evidenced by the 17th consecutive payout of INR 3 per unit announced for Q2 FY26 alongside total consolidated income of INR 3,267 million.