Analyst meet transcript: capex guidance of ₹37,000-40,000 crore, capitalisation ₹25,000-30,000 crore
Power Grid has shared the transcript of its analysts' and institutional investors' meet held on 03rd November, 2026, covering Q2 and H1 FY 2026-27.
By ScoutQuest · · 2 min read
- Transmission lines commissioned (Q2 FY27)
- 981 circuit kilometres
- Transformation capacity commissioned (Q2 FY27)
- 14,600 MVA
- CapEx guidance for the year
- ₹37,000 crore to ₹40,000 crore
What the update is
Power Grid Corporation of India has submitted the transcript of its analysts' and institutional investors' meet held on 03rd November, 2026 at Mumbai, where the management team led by the Chairman and Managing Director discussed performance and outlook after the Q2 and H1 FY 2026-27 results.
Assets commissioned in Q2 FY 2026-27
- 981 circuit kilometres of transmission lines.
- 14,600 MVA of transformation capacity.
- The 765 kV lines included Koppal-II PS to Raichur in Karnataka, Bidar PS to Maheshwaram, and Sikar-II to Khetri in Rajasthan.
- New substations: Koppal-II and Bidar, along with a 400 kV Bikaner II to Bikaner-III line in Rajasthan.
Guidance stated by management
- CapEx of ₹37,000 crore to ₹40,000 crore for the year.
- Capitalisation of ₹25,000 crore to ₹30,000 crore.
Both are forward-looking targets stated on the call, not results already reported.
Scale of the business as described
- Fixed assets of about ₹3.29 lakh crore.
- Market capitalisation of ₹2.42 lakh crore.
- Credit profile: highest domestic safety rating and an international rating at par with the sovereign.
Other points from the opening remarks
- Project-specific special purpose vehicles have been consolidated to simplify governance of TBCB (tariff-based competitive bidding) projects.
- Availability of the transmission system was described as continuing at a high level, with tripping per line described as low.
- A 220 kV mobile GIS unit, developed with an OEM, has been deployed at one of the substations.
- Power Grid, along with the Ministry of Power and MeitY, is working on indigenous design and development of silicon carbide MOSFET power modules for HVDC applications.
- An insulated aerial work platform and an indigenously developed cargo drone were deployed to ease operations and move material to remote tower sites.
What a retail investor can take away
- The transcript sets out how much network the company added in the quarter and the capex and capitalisation it is targeting for the year.
- Guidance figures are management estimates; actual capex and capitalisation can differ.
- The document is a record of what management said on the call, and the figures above are the ones that can be reviewed against reported results.
Also from Power Grid Corporation of India
POWERGRID declared successful bidder under TBCB for Humnabad sub-station and transmission lines
11 Nov 2026
Power Grid expected to see sell flows due to an FII desk's MSCI sell basket inclusion
6 Nov 2026
Power Grid posts audio & video recording links of analysts' and institutional investors' meet held 03 Nov 2026
4 Nov 2026
More numbers
- Fixed assets₹3.29 lakh crore
- Market capitalisation₹2.42 lakh crore
- Transmission lines commissioned in Q2 FY27981 circuit kilometres
- Transformation capacity added in Q2 FY2714,600 MVA
- CapEx guidance - lower end₹37,000 crore
- CapEx guidance - upper end₹40,000 crore
- Capitalisation guidance - lower end₹25,000 crore
- Capitalisation guidance - upper end₹30,000 crore
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