Powergridofindia · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Domestic manufacturing capacity at 2.28 lakh MVA against projected demand of 4.21 lakh MVA in FY27. Government is considering relaxation for Chinese companies to set up manufacturing in India, which if approved would boost supply.
Though government guidelines (June 2024, March 2025, December 2025) have improved execution, ROW remains a pain point requiring continued engagement with state governments and chief ministers.
Management acknowledged this remains a challenge; discussions ongoing with government of India for resolution, though no timeline provided.
While maintaining 50-60% market share in TBCB projects, competition is intensifying with competitor claiming ₹75,000 crore works in hand including HVDC projects. HVDC projects have only 3 global manufacturers (Hitachi, ABB, Siemens) creating execution dependencies.
