Power Grid to announce Q4 numbers today: Here is what brokerages are expecting

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26 Aug, 2025 12:21

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The country's largest power transmission company Power Grid Corporation of India's revenue for the quarter ended March 2021 is expected to be flat on weak performance in telecom and consultancy business. But the company's profit may grow marginally due to lower tax cost.

Kotak Institutional Equities sees a profit growth of 9 percent on the back of a 17 percent decline in tax cost, YoY.

"The dip in revenue growth (down 2 percent YoY) despite asset capitalization of Rs 17,200 crore in trailing 12 months is on account of weak performance of telecom and consultancy business," said the brokerage.

The brokerage factored in asset capitalization of Rs 3,700 crore in Q4FY21 in comparison to capitalization of Rs 4,600 crore in Q4FY20 and Rs 12,600 crore in nine months period ended December 2020.

In May 2021, Power Grid Corporation has received Rs 2,741.51 crore through offer for sale in PowerGrid Infrastructure Investment Trust (InvIT), while the rest of the money raised through fresh issue of Rs 4,993.48 crore will be used for providing loans to the Initial Portfolio Assets for repayment of debt by PowerGrid InvIT.

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Key things to watch out for would be outlook on new awarding, progress on InvIT of assets, outlook on TBCB (tariff based competitive bidding) projects, and progress on capitalization, said Motilal Oswal which sees 3 percent year-on-year growth in profit and 0.3 percent in revenue.

At the operating level, Motilal Oswal expects EBITDA (earnings before interest, tax, depreciation and amortisation) to increase 5.5 percent and margin to expand 440 bps, while according to Kotak, EBITDA growth could be 1 percent and margin expansion may be 282 bps YoY.

The stock performance remained robust, partly could be due to asset monetisation. It surged 27.5 percent in current calendar year 2021, and rallied 52 percent in last one year.