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, free.
Compare price with fair valuebelow fair value = cheap, above = expensive
Check the quality50 and up solid, 75 and up strong
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Utilities · IN · Market cap ₹2.7T (≈ $28.2B) · ISIN INE752E01010
At a glance
PGPower Grid Corporation of India LimitedPOWERGRID · NSE
Price₹265.75
Fair Value₹252.77
Upside−4.9%
Quality45/100
Below-average quality, currently priced close to our fair value of ₹252.77.
As of Aug 21, 2026, the fair value of Power Grid Corporation of India Limited is ₹252.77 per share against a price of ₹265.75, so the fair value sits 5% below the price. A model estimate from reported figures, not an analyst target.
!Expensive Growth (revenue 5y +3.3 %/yr)
✓Highly profitable · 34.1% net margin
!Moderate debt · negative free cash flow
·7.34% dividend yield
!Mixed vs. peers (7/13)
✓Wide moat 73/100
!Weak on valuation: 27 out of 100
Evidence: HighRange ₹152.17 to ₹353.37
Fair value as of: Aug 21, 2026
From 16 valuation models · updated 19 days ago
Share price −2.2% over the past month.
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What matters 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.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
60‑month range ₹81.18 – ₹332.28 · fair‑value band ₹152.17 – ₹353.37 · the ₹265.75 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 Aug 21, 2026.
Power Grid Corporation of India Limited (POWERGRID) currently trades at ₹265.75, while our model-based Fair Value estimate is ₹252.77, implying the stock looks roughly 5.1% fairly valued today. The Quality Score stands at 45/100 (below-average quality), in the Utilities sector. 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 ₹265.75 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.
Over the trailing twelve months, Power Grid Corporation of India Limited generated revenue of ₹467B at a net margin of 34.1%. Revenue declined 5.0% year over year. It earns a return on equity of 16.5%. Net debt stands at ₹1.4T. Fundamentals as of Aug 21, 2026
Scenario range: ₹152.17 (bear) to ₹353.37 (bull), the price of ₹265.75 sits inside it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target. The share trades about 18% below its 52-week high and 7% above its 52-week low, currently below its 200-day average. For context, the median of 10 Utilities peers we cover trades at −37% fair-value upside, at −5%, POWERGRID screens cheaper than that median.
Fair Value models
Based on fiscal year 2026 figures (about 5 months old). Earnings retained since then (₹0.2647 per share) are deliberately not added.
Each model values the company its own way; the fair value above is the evidence-weighted blend. Evidence (0 to 100) shows how complete a model's inputs are. How we calculate →
ModelBear ⓘ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
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Key figures & financial health
P/E ratio13.2
P/S ratio5.29P/E × margin
EPS (TTM)₹20.11price ÷ EPS = P/E 13.2
Dividend yield7.3%payout 97.0%
Net margin40.0%FY2026
Return on equity16.5%TTM
More key figures
Profitability
Return on assets (EBIT)14.6%avg 5y
Operating margin49.5%TTM
Growth
Revenue (TTM)₹467BTTM
Revenue growth (YoY)−5.0%3y avg +0.8%
EPS growth (YoY)+9.6%
Balance sheet & cash flow
Free cash flow−₹53.3BFY2026
Net debt₹1.4TFY2026
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Overall quality45/100
Of which business quality 43
· Market factors (momentum, volatility) 49
Profitability47
Margins and returns on capital today
Quality Growth28
Are margins and returns improving?
Cashflow45
Earnings quality: real cash, not paper profit
Fin. Strength21
Balance sheet, leverage, solvency risk
Investment46
Disciplined investing over empire-building
Low Volatility95
Calm price path (market factor)
Momentum32
Price trend over the last 3–12 months (market factor)
52W Momentum27
Distance to the 52-week high (market factor)
Net Issuance82
Buybacks instead of dilution
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
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.
Full company description
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.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
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.
Growth Quality 37/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Latest Revenue (FY 2026)
₹467B
Latest YoY
+2.1%
Avg. revenue growth/yr (3Y) ⓘ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.
+0.8%
Avg. revenue growth/yr (5Y) ⓘ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.
+3.3%
Avg. revenue growth/yr (23Y) ⓘ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.
+14.3%
Value creation/yr (5Y, in INR) ⓘEarnings growth per share (CAGR 5 years) plus dividend yield: value created per share and year. 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 yield: the value created per share and year.
Earnings growth per share+11.1%
Dividend yield7.3%
Trend ⓘ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.5Y 11.1% vs 10Y 12.1%, steady
Operating margin (EBIT) ⓘ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.92.3% (2021) → 53.4% (2026) · falling
Worst earnings drop18% (2021) · in INR
Revenue+2.9%/yr
FY22₹416B
FY23₹456B
FY24₹458B
FY25₹458B
FY26₹467B
Net income+2.7%/yr
FY22₹168B
FY23₹154B
FY24₹156B
FY25₹155B
FY26₹187B
Character of growth · EPS growth decomposed (2015-2026)+11.7 % p.a.
Revenue per share+8.9 %
of which total revenue +8.9 % · buybacks/dilution +0.0 %
EBIT margin−1.5 %
Tax rate+1.5 %
Residual (interest, one-offs)+2.5 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
This stockSector peers
VALUE27· sector 1
FUTURE0· sector 32
PAST66· sector 38
HEALTH40· sector 53
DIVIDEND100· sector 64
Insider activity: 20/100
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
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Is Power Grid Corporation of India Limited (POWERGRID) overvalued or undervalued?
As of Aug 21, 2026, our model estimates a fair value of ₹252.77 versus a price of ₹265.75, 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 Aug 21, 2026), built from audited fundamentals. The current price: ₹265.75.
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 Aug 21, 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 ₹265.75 (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 Aug 21, 2026).
What is the net profit margin of POWERGRID?
The net profit margin of Power Grid Corporation of India Limited is about 34.1%, meaning it keeps roughly 34.1% of revenue as net income. Based on the latest reported figures.
Does Power Grid Corporation of India Limited pay a dividend?
Power Grid Corporation of India Limited currently shows a dividend yield of about 7.34% relative to its recent price (as of Aug 21, 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 Aug 21, 2026), against a price of ₹265.75. 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 Aug 21, 2026, POWERGRID trades above its calculated fair value: price ₹265.75, 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 (₹265.75); the fair value is what the company's own numbers justify (₹252.77). For Power Grid Corporation of India Limited the two are ₹12.98 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 Aug 21, 2026). Per share that is ₹265.75; 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 Aug 21, 2026, price ₹265.75). 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 Aug 21, 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 Aug 21, 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 ₹265.75, about 18% below its 52-week high of ₹324.95 and 7% above the low of ₹247.22 (as of Aug 21, 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 Aug 21, 2026: price ₹265.75, 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.
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