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Power Grid Corporation of India Limited (POWERGRID) fair value: what the stock is really worth

We calculate from audited financials what Power Grid Corporation of India Limited is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? No
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Utilities · IN · ISIN INE752E01010

PG Broad data Sep 18, 2026

Power Grid Corporation of India Limited

POWERGRID · NSE

Low PriorityFair Value upside is limited and quality is weak.

·Fair value ₹252.77 · Fairly valued (−5%)
!Quality 45/100
!Expensive Growth (revenue 5y +3.3 %/yr)
Highly profitable · 34.1% net margin (TTM)
!Moderate debt · negative free cash flow
·7.33% dividend yield
!Mixed vs. peers (7/13)
Wide moat 73/100
!Insider activity 20/100
!Weak on valuation: 27 out of 100
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Price vs Fair Value

₹332.28 ₹81.18 Fair Value ₹252.77 May 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 18, 2026.

How to read this chart

60‑month range ₹81.18 – ₹332.28 · fair‑value band ₹152.17 – ₹353.37 · the ₹266.10 price screens above the ₹252.77 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 18, 2026.

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Company profile

Power Grid Corporation of India Limited, an electric power transmission utility, engages in the power transmission business in India and internationally. It operates in three segments: Transmission Services, Telecom Services, and Consultancy Services.

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Power Grid Corporation of India Limited, an electric power transmission utility, engages in the power transmission business in India and internationally. It operates in three segments: Transmission Services, Telecom Services, and Consultancy Services. As of 31 March 2025, the company owned and operated 180,195 circuit kilometers of transmission lines, and 282 substations with an aggregate transformation capacity of 551,961 mega volt amperes. It also provides telecom services that offer overhead optic fiber network services using optical ground wire on power transmission lines under the POWERTEL brand name, as well as lease lines, MPLS-VPN, data, infrastructure, and international long-distance services. In addition, it provides consultancy services to the transmission, distribution, and telecom sectors on system planning and feasibility studies; environmental and social studies; design and engineering; contract/procurement services; project management and construction supervision; capacity building; operation and maintenance; asset management; owners' and lenders' engineer services to utilities and funding institutions; preparation of grid code, tariff mechanisms, and market analysis; legal and technical advisory in power transmission; power system studies/DPR preparation; smart grid and EV charging; load despatch and communication; sub-transmission/distribution/rural electrification services; testing and quality assurance and inspection; energy efficiency; and preventive vigilance, as well as human resource development. Further, it operates electric vehicle charging stations; and engages in solar power generation, green hydrogen production, smart metering, and data centers. The company was formerly known as National Power Transmission Corporation Limited and changed its name to Power Grid Corporation of India Limited in October 1992. Power Grid Corporation of India Limited was incorporated in 1989 and is based in Gurugram, India.

Stock analysis

Power Grid Corporation of India Limited (POWERGRID) currently trades at ₹266.10, while our model-based Fair Value estimate is ₹252.77, implying the stock looks roughly 5.3% fairly valued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of ₹333.99 per share, and 5 of the 16 models we run sit above the ₹266.10 price.

Bear case: the Asset-Based group reads lowest at ₹72.39, and 11 of the 16 models stay below the price. Evidence for this calculation is high.

Scenario range: ₹152.17 (bear) to ₹353.37 (bull), the price of ₹266.10 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 45/100 (below-average quality), in the Utilities sector.

Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.

Power Grid Corporation of India Limited reported revenue of ₹467B in FY2026 versus ₹416B in FY2022, a compound +2.9%/yr. Reported net income was ₹187B in FY2026, compounding +2.7%/yr from FY2022.

Key figures

Market cap ₹2.7T (≈ $27.9B) · P/E ratio 13.2 · P/S ratio 5.30 · EPS (TTM) ₹20.11 · Dividend yield 7.3% · Net margin 40.0% · Return on equity 16.5% · Return on assets (EBIT) 14.6%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).

What moves the price

The share trades about 18% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Utilities peers we cover trades at −36% fair-value upside, at −5%, POWERGRID screens cheaper than that median.

Fair Value models

Bear ₹152.17 Fair Value ₹252.77 Bull ₹353.37
Model Each model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Based on fiscal year 2026 figures (about 6 months old). Earnings retained since then (₹0.2860 per share) are deliberately not added. Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence Evidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
EPV ₹120.84 ₹163.45 ₹201.32 74
ROIC Compounder ₹127.44 ₹220.84 ₹341.23 69
Growth-Adj P/E ₹233.79 ₹333.99 ₹434.18 67
All 16 models by family
Earnings-Based
Graham-Dodd ₹136.74 ₹595.36 ₹814.31 64
Lynch FV ₹153.29 ₹218.98 ₹284.68 61
PEG = 1.0 ₹153.29 ₹218.98 ₹284.68 57
EPV ₹120.84 ₹163.45 ₹201.32 74
Dividend Discount
Gordon GGM ₹86.57 ₹189.00 ₹318.00 65
DDM Multi-Stage ₹86.57 ₹154.82 ₹196.97 66
Multiples
P/E Multiple ₹271.47 ₹361.96 ₹452.45 63
P/S Multiple ₹94.21 ₹125.62 ₹157.02 58
P/B Multiple ₹145.87 ₹194.49 ₹243.11 55
EV/EBIT ₹181.20 ₹281.80 ₹382.39 65
EV/EBITDA ₹185.68 ₹287.77 ₹389.85 66
EV/Revenue n/a ₹5.03 ₹42.72 50
Asset-Based
NCAV (Graham) ₹54.03 ₹72.39 ₹108.05 54
Economic Profit
Residual Income ₹135.70 ₹173.98 ₹584.60 64
ROIC Compounder ₹127.44 ₹220.84 ₹341.23 69
Growth Earnings
Growth-Adj P/E ₹233.79 ₹333.99 ₹434.18 67

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Quality Score breakdown

Overall quality 45/100

Of which business quality 43 · Market factors (momentum, volatility) 48

Profitability 47
Margins and returns on capital today
Quality Growth 28
Are margins and returns improving?
Cashflow 45
Earnings quality: real cash, not paper profit
Fin. Strength 21
Balance sheet, leverage, solvency risk
Investment 46
Disciplined investing over empire-building
Low Volatility 94
Calm price path (market factor)
Momentum 30
Price trend over the last 3–12 months (market factor)
52W Momentum 26
Distance to the 52-week high (market factor)
Net Issuance 82
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality Growth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 37/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
+2.1%
Revenue growth 3 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+0.8%
Revenue growth 5 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+3.3%
Revenue growth 23 years Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+14.3%
What shareholders gained per year (last 5 years), in INR What the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Measured in INR: this currency has depreciated against the euro and dollar over the long run, so part of the nominal rate is currency erosion that never reaches a EUR/USD investor.
+18.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+11.1%
Dividend (yield on the price)7.3%
Pace: 5 vs 10 years Two data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.11% vs 12%, steady
Profit margin 2021 to 2026 Operating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.92% → 53%

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Peer GroupHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Utilities - Regulated Electric · 156 stocks

Beats the industry median on 7/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 45 · Below median
Fair Value upside −5% · Above median
Profitability
Return on equity (TTM) 16% · Top 25%
Return on assets 6% · Top 25%
Net margin (TTM) 34% · Top 25%
Operating margin (TTM) 49% · Top 25%
Growth and dividend
Revenue growth −5% · Bottom 25%
Dividend yield (TTM) 7.3% · Top 25%
Balance sheet
Debt / equity 1.21× · Above median

Valuation Multiplesvs Utilities - Regulated Electric median · lower = cheaper

P/E (TTM) 13.2× · Cheaper than median
P/B 2.67× · Priciest 25%
P/S (TTM) 5.75× · Priciest 25%
EV/EBITDA 10.0× · Pricier than median

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)27 · sector 8
FUTURE (revenue growth)0 · sector 32
PAST (return on equity)66 · sector 39
HEALTH (low debt)40 · sector 53
DIVIDEND (yield)100 · sector 68

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Utilities - Regulated Electric stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
NextEra Energy, Inc NEE $81.07 $29.88 −63%
The Southern Company SO $85.95 $58.74 −32%
Duke Energy Corporation DUK $117.76 $74.89 −36%
National Grid plc NGG $76.86 $50.23 −35%
American Electric Power Company AEP $120.69 $77.23 −36%
Dominion Energy, Inc D $63.87 $37.67 −41%
Entergy Corporation ETR $102.92 $38.37 −63%
Xcel Energy Inc XEL $72.49 $44.61 −38%
Exelon Corporation EXC $42.44 $36.26 −15%
Consolidated Edison, Inc ED $105.24 $47.92 −54%

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Cite: Fair Value Calculator (2026). "Power Grid Corporation of India Limited Fair Value". https://www.fairvalue-calculator.com/stock/POWERGRID

Frequently asked questions

Is Power Grid Corporation of India Limited (POWERGRID) overvalued or undervalued?
As of Sep 18, 2026, our model estimates a fair value of ₹252.77 versus a price of ₹266.10, about −5% upside (fairly valued).
What is the fair value of POWERGRID?
Our model-based fair value for Power Grid Corporation of India Limited is ₹252.77 (as of Sep 18, 2026), built from audited fundamentals. The current price: ₹266.10.
What is the quality score of POWERGRID?
Power Grid Corporation of India Limited has a Quality Score of 45/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Power Grid Corporation of India Limited (POWERGRID)?
Our model-based price target is the fair value of ₹252.77 (as of Sep 18, 2026) from 16 valuation models. Cautious scenario ₹152.17, optimistic scenario ₹353.37. It is a calculation from audited fundamentals, not an analyst target.
What is the Power Grid Corporation of India Limited stock forecast for 2026?
Our models put fair value at ₹252.77, about −5% upside versus a price of ₹266.10 (fairly valued). Cautious scenario ₹152.17, optimistic scenario ₹353.37. The calculation is refreshed regularly with new filings.
What is the revenue of Power Grid Corporation of India Limited (POWERGRID)?
Power Grid Corporation of India Limited reported trailing-twelve-month revenue of about ₹467B (latest available figure, as of Sep 18, 2026).
Does Power Grid Corporation of India Limited pay a dividend?
Power Grid Corporation of India Limited currently shows a dividend yield of about 7.33% relative to its recent price (as of Sep 18, 2026).
What is the intrinsic value of Power Grid Corporation of India Limited (POWERGRID)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Power Grid Corporation of India Limited it is ₹252.77 per share (as of Sep 18, 2026), against a price of ₹266.10. It is the blended result of 16 valuation models (cash flow, earnings, asset, dividend).
Is Power Grid Corporation of India Limited stock overvalued or undervalued in 2026?
As of Sep 18, 2026, POWERGRID trades above its calculated fair value: price ₹266.10, fair value ₹252.77, a gap of about −5% (fairly valued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of POWERGRID?
No. The price is what the market pays today (₹266.10); the fair value is what the company's own numbers justify (₹252.77). For Power Grid Corporation of India Limited the two are ₹13.33 per share apart. That gap is exactly why we show both numbers side by side.
How much is Power Grid Corporation of India Limited worth?
The market values Power Grid Corporation of India Limited at about ₹2.7T (market capitalisation, as of Sep 18, 2026). Per share that is ₹266.10; our models calculate a fair value of ₹252.77 per share.
What do the bullish and bearish scenarios say about POWERGRID?
Our models span a range for Power Grid Corporation of India Limited: cautious scenario ₹152.17, base ₹252.77, optimistic ₹353.37 per share (as of Sep 18, 2026, price ₹266.10). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of POWERGRID?
Power Grid Corporation of India Limited trades at a price-to-earnings ratio of 13.2 (as of Sep 18, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of ₹252.77 is built from several models across several years. Other multiples: P/B 2.7, P/S 5.7, EV/EBITDA 10.0.
How solid is the balance sheet of Power Grid Corporation of India Limited (POWERGRID)?
Balance-sheet figures for Power Grid Corporation of India Limited (as of Sep 18, 2026): return on equity 16.5%, debt of 1.21 per unit of equity. They feed the Quality Score of 45/100, which measures business quality independently of the share price.
How far is POWERGRID from its 52-week high?
Power Grid Corporation of India Limited trades at ₹266.10, about 18% below its 52-week high of ₹324.95 and 8% above the low of ₹247.22 (as of Sep 18, 2026). Distance from the high says nothing about value: that is what the fair value of ₹252.77 is for.
Which stocks are comparable to Power Grid Corporation of India Limited?
From the same area (Utilities) we also value NextEra Energy, Inc, The Southern Company, Duke Energy Corporation, National Grid plc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Power Grid Corporation of India Limited stock attractive at the current price?
The data as of Sep 18, 2026: price ₹266.10, calculated fair value ₹252.77 (−5%), Quality Score 45/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of POWERGRID calculated?
We run Power Grid Corporation of India Limited through 16 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of ₹252.77, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 16.1 % above its aggregate fair value. Power Grid Corporation of India Limited itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Power Grid Corporation of India Limited (POWERGRID)?
The closing price on Sep 21, 2026 was ₹266.10. Our model-based fair value is ₹252.77, about −5% upside (fairly valued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Power Grid Corporation of India Limited right now?
The price sits close to our fair value, market and models broadly agree here, little valuation tension. A fairly wide model range (₹152.17 to ₹353.37) leaves room in how you read the outcome.
Where does the earnings growth of Power Grid Corporation of India Limited (POWERGRID) come from?
Earnings per share at Power Grid Corporation of India Limited grew +11.7 % a year from 2015 to 2026. Broken into its drivers: revenue per share +8.9 %, EBIT margin −1.5 %, tax rate +1.5 %, residual (interest, one-offs) +2.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.

Key figures of Power Grid Corporation of India Limited

How large is the market capitalisation of Power Grid Corporation of India Limited (POWERGRID)?
The market capitalisation of Power Grid Corporation of India Limited is ₹2.7T (≈ $27.9B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Power Grid Corporation of India Limited (POWERGRID)?
The price-to-sales ratio of Power Grid Corporation of India Limited is 5.30 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Power Grid Corporation of India Limited (POWERGRID)?
Earnings per share at Power Grid Corporation of India Limited are ₹20.11 (price ÷ EPS = P/E 13.2). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Power Grid Corporation of India Limited (POWERGRID)?
The dividend yield of Power Grid Corporation of India Limited is 7.3% (payout 97.0%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Power Grid Corporation of India Limited (POWERGRID)?
The net margin of Power Grid Corporation of India Limited is 40.0% (fiscal year 2026). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Power Grid Corporation of India Limited (POWERGRID)?
The return on equity (ROE) of Power Grid Corporation of India Limited is 16.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Power Grid Corporation of India Limited (POWERGRID)?
On an EBIT basis the return on assets of Power Grid Corporation of India Limited is 14.6% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Power Grid Corporation of India Limited (POWERGRID)?
The operating margin of Power Grid Corporation of India Limited is 49.5% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Power Grid Corporation of India Limited (POWERGRID)?
Revenue at Power Grid Corporation of India Limited is growing −5.0% versus a year earlier (3y avg +0.8%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Power Grid Corporation of India Limited (POWERGRID)?
Earnings per share at Power Grid Corporation of India Limited are growing +9.6% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Power Grid Corporation of India Limited (POWERGRID) generate?
The free cash flow of Power Grid Corporation of India Limited is −₹53.3B (fiscal year 2026). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does Power Grid Corporation of India Limited (POWERGRID) carry?
The net debt of Power Grid Corporation of India Limited is ₹1.4T (fiscal year 2026). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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