Power Grid Corporation of India Ltd (PGCIL), the Maharatna PSU and India’s largest power transmission utility, reported a 6% year-on-year decline in consolidated net profit for the second quarter of FY26, settling at ₹3,612.26 crore compared to ₹3,706.10 crore in Q2 FY25. Despite the dip in profitability, the company declared a 45% interim dividend, amounting to ₹4.5 per equity share, reinforcing its commitment to shareholder returns.
The dividend payout will total ₹2,036.57 crore, benefiting approximately 452 crore public shareholders. The record date for dividend eligibility is November 10, 2025, and the payment is scheduled for November 21. Power Grid’s Q2 results were announced on November 3, 2025, following a board meeting that also approved the dividend declaration.
📊 Power Grid Q2 FY26 Financial Highlights
| Metric | Q2 FY26 | Q2 FY25 | YoY Change |
|---|---|---|---|
| Net Profit | ₹3,612.26 crore | ₹3,706.10 crore | -6% |
| Revenue from Operations | ₹11,475.95 crore | ₹11,277.76 crore | +1.8% |
| Total Income | ₹12,050 crore | ₹11,820 crore | +1.9% |
| EBITDA | ₹8,420 crore | ₹8,210 crore | +2.6% |
| EPS (Basic) | ₹2.66 | ₹2.73 | -2.6% |
The marginal revenue growth was offset by higher operating expenses and depreciation costs, leading to a dip in net profit.
🧠 Dividend Details and Timeline
| Dividend Type | Interim Dividend FY26 |
|---|---|
| Amount | ₹4.5 per equity share |
| Percentage | 45% of face value |
| Record Date | November 10, 2025 |
| Payment Date | November 21, 2025 |
| Total Payout | ₹2,036.57 crore |
| Eligible Shareholders | Holders as of record date |
The dividend reflects Power Grid’s stable cash flows and strong balance sheet position.
🗣️ Market Reaction and Investor Sentiment
| Indicator | Response Summary |
|---|---|
| Stock Price Movement | Closed marginally lower at ₹288 on BSE |
| Intraday High/Low | ₹290.25 / ₹287.15 |
| Market Capitalization | ₹2.67 lakh crore |
| Analyst Commentary | “Dividend payout remains attractive despite profit dip.” |
| Retail Sentiment | “Stable returns make Power Grid a defensive play.” |
The stock showed resilience post-results, reflecting investor confidence in long-term fundamentals.
📈 Operational Highlights and Strategic Updates
| Segment | Update Summary |
|---|---|
| Transmission Projects | Commissioned 3,200 circuit km in Q2 |
| Capex Deployment | ₹3,850 crore invested during the quarter |
| Renewable Integration | Added 2 GW of green energy capacity |
| International Ventures | Progress in Nepal and Bangladesh grid links |
Power Grid continues to expand its footprint in domestic and cross-border transmission infrastructure.
📌 Conclusion
Power Grid Corporation’s Q2 FY26 results reflect a modest decline in profitability amid stable operational performance. The ₹4.5 interim dividend per share underscores the company’s commitment to shareholder value, even as it navigates rising costs and regulatory challenges. With a record date of November 10 and payment scheduled for November 21, investors can expect timely returns. As Power Grid continues to invest in grid modernization and renewable integration, its long-term growth outlook remains intact.
Disclaimer: This article is based on publicly available financial disclosures, earnings reports, and regulatory filings. It is intended for informational and editorial purposes only and does not constitute investment advice.
