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POWERGRID Energy 10 Feb 2025

Power Grid Corporation — Q3 FY25

PowerGrid reported consolidated Q3 FY25 total income of INR 11,743 crore and PAT of INR 3,862 crore.

bullish high
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Revenue ₹11,233 Cr
EBITDA
EBITDA Margin 85%
Duration
Read Time 1 min read

✓ Verified against BSE filing

Risk Intelligence

Material risks this quarter

Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.

Risks

R

Execution delays due to land acquisition and equipment supply

Management acknowledged challenges in land acquisition (ROW issues) and supply of high-voltage transformers and GIS equipment, which could delay project commissioning beyond the typical two-year timeline.

medium · management_commentary
R

Impact of CERC tariff true-up on profitability

The CERC tariff true-up impacted Q3 PAT by INR 140 crore, and the nine-month impact is ~INR 440 crore. This regulatory adjustment could continue to weigh on earnings.

medium · analyst_question
R

Loss from JV EESL dragging consolidated profits

PowerGrid's 39% stake in EESL resulted in a loss of INR 140 crore in 9M FY25, contributing to the decline in consolidated PAT. Management has stopped further equity infusion.

low · analyst_question
R

Dividend reduction due to rising CapEx requirements

Management reduced the interim dividend per share (from INR 4.5 to INR 3.25) to conserve equity for the growing CapEx pipeline. Further reductions are possible if CapEx continues to rise.

medium · analyst_question