Power Grid Corp of India's transmission order pipeline remains robust, analysts say

Power Grid of India

10/08/2026 05:48

** Brokerage ICICI Direct expects Power Grid Corporation of India's PGRD.NS capex and commissioning to ramp up through FY27
** Says nearly 1.2 trillion rupee ($12.60 billion) order pipeline bodes well for outlook; remains constructive on multi-year transmission capex upcycle
** Citi says PGRD's near-term transmission order pipeline remains strong, with about 740 billion rupees worth projects under active bidding and likely additions
** Adds transmission equipment supply situation from original equipment manufacturers has improved, creating scope for medium-term profitability improvement
** Investec says revised transmission compensation guidelines should support healthy capitalisation run rate, while elevated capex could see fixed costs outpace earnings
** PGRD last down 0.9%; up 1.7% YTD
($1 = 95.2300 Indian rupees)

(Reporting by Aleef Jahan in Bengaluru)
((aleefjahan.cs@thomsonreuters.com;))