Power Grid Q3 preview | Tepid growth in sales, profit expected; focus on capitalisation, InvIT of assets

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26 Aug, 2025 12:21

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Power Grid Corporation will report its December quarter earnings on February 11 in which brokerages expect a tepid growth on sales, profit and margin front owing to the weak performance of telecom and consultancy business.

Along with the numbers, watchers will try to get cues on progress on capitalisation, progress on InvIT of assets and outlook on new awarding, brokerages said.

Motilal Oswal Financial Services expects a 5.4 percent year-on-year (YoY) rise in the company's December quarter net sales. Reported PAT may rise 7.5 percent YoY, while adjusted PAT may grow 8.3 percent YoY, the brokerage said.

As per the estimates of Kotak Institutional Equities, Power Grid's Q3FY21 net sales may see a lacklustre rise of 1.2 percent YoY, while reported and adjusted PAT may grow 14.2 percent YoY.

EBITDA can inch up 1.5 percent YoY and EBITDA margin by 28 bps YoY, said Kotak.

Kotak expects "absence of revenue growth (flat YoY) despite asset capitalisation of Rs 21,300 crore in trailing 12 months on account of the weak performance of telecom and consultancy business".

"We factor asset capitalisation of Rs 3,500 crore in Q3FY21 in comparison to capitalisation of Rs 5,200 crore in Q3FY20 and Rs 11,500 crore in the first half of FY21," it said.

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