Interim report
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क े Ⱦीय कायाŊलय: "सौदािमनी", ɘॉट नंबर 2, सेƃर -29, गुŜŤाम -122001, (हįरयाणा) द ू रभाष: 0124-2822999 & 2822000 Corporate Office: “Saudamini”, Plot No. 2, Sector-29, Gurugram-122001, (Haryana) Tel.: 0124-2822999 & 2822000 पंजीक ृ त कायाŊलय: बी -9, क ु तुब इंːीǨूशनल एįरया, कटवाįरया सराय, नई िदʟी -110 016. द ू रभाष: 011-26560112, 26560115 & 26560193, CIN: L40101DL1989GOI038121 Registered Office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110 016. Tel: 011-26560112, 26560115 & 26560193, CIN : L40101DL1989GOI038121 Website: www.powergrid.in 05th August, 2026 To The General Manager (Listing), National Stock Exchange of India Limited, Exchange Plaza, C 1/G Block, Bandra-Kurla Complex, Bandra (East), Mumbai. To The General Manager (Listing), BSE Limited, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai. Reference: NSE-SCRIP ID: POWERGRID; BSE Scrip Code: 532898 EQ – ISIN: INE752E01010 Sub.: Outcome of Board Meeting held on 05 th August, 2026 – Unaudited Financial Results for the First Quarter ended 30th June, 2026 (FY 2026-27) Dear Sir, In pursuance of Regulation 30, 33(3)(a) and 52(1) SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (“SEBI LODR”), the Board of Directors of POWERGRID (“the Company”), at its meeting held today i.e., Wednesday, 05th August, 2026, has inter-alia considered and approved the Unaudited Financial Results (Standalone and Consolidated) of the Company for the first quarter ended 30 th June, 2026 along with the Limited Review Report of the Auditors (copy enclosed as Annexure-A). The Board Meeting commenced at 7:40 P.M. (IST) and concluded at 9:00 P.M. (IST). Please take the above information on record. Thanking You, Yours faithfully, (Anjana Luthra) Company Secretary & Compliance Officer Encl.: As above ,,dt~ Fcil ---- q ldi! S -==~ POWERGRID QRR f.tg ~ 3ffi:5 ~ ~ ('l'lffif'ffl1t>R<fj"f~) POWER GRID CORPORATION OF INDIA LIMITED (A Government of India Enterprise)
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Qldi!fcils Power Grid Corporation of India Limited (A Govt. of India Enterprise) POWERC',RID CIN : L40101DL1989GOI038121 B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110016 Statement of Unaudited Standalone Financial Results for the quarter ended 30 June 2026 (" in Crore) SI. Quarter ended Year ended No. Particulars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 (Unaudited) (Unaudited) (Unaudited) (Audited) Income I Revenue From Operations 9,795.40 9,971.09 9,928.23 40,904.20 II Other Income 1,574.64 1,983.61 1,328.65 6,091.68 Ill Total Income (1+11) 11,370.04 11,954.70 11,256.88 46,995.88 IV Expenses Employee benefits expense 666.14 692.77 633.91 2,643.92 Finance costs 2,514.78 2,614.27 2,304.45 10,050.43 Depreciation and amortisation expense 2,924.96 3,096.47 2,969.75 12,329.79 Other expenses 1,017.84 1,777.45 1,176.50 5,212.64 Total Expenses (IV) 7,123.72 8,180.96 7,084.61 30,236.78 V Profit before Tax and Regulatory Deferral Account Balances (Ill-IV) 4,246.32 3,773.74 4,172.27 16,759.10 VI Tax expense: Current tax - Current Year 768.27 687.48 722.78 2,943.33 - Earlier Years - 0.02 - 0.02 Deferred tax (39.27) (5,284.10) 10.54 (4,928.86) 729.00 (4,596.60) 733.32 (1,985.51) VII Profit for the period before Regulatory Deferral Account Balances (V-VI) 3,517.32 8,370.34 3,438.95 18,744.61 VIII Net movement in Regulatory Deferral Account Balances - (106.37) (2,823.61) lncome/(Expenses) (net of tax) (3,817.54) 214.28 IX Profit for the period (Vll+VIII) 3,410.95 4,552.80 3,653.23 15,921.00 X Other Comprehensive Income Items that will not be reclassified to profit or loss (net of tax) 64.35 21.97 189.71 173.38 Items that will be reclassified to profit or loss (net of tax) (24.28) (27.60) - (27.60) XI Total Comprehensive Income for the period (IX+X) 3,451.02 4,547.17 3,842.94 16,066.78 XII Paid up Equity Share Capital 9,300.60 9,300.60 9,300.60 9,300.60 (Face value of share : if; 10/- each) XIII Earnings per equity share (Face value of ff.10/-each) including movement in Regulatory Deferral Account Balances : Basic & 3.67 Diluted (In~) * 4.90 3.93 17.12 excluding movement in Regulatory Deferral Account Balances : Basic & 3.78 9.00 3.70 20.15 Diluted (In ~l • Refer accompanying notes to the financial results. (*) Figures for the quarters have not been annualized
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~~ 14) Power Grid Corporation of India Limited (A Govt. of India Enterprise) . J;- =~i CIN : L40101DL1989GOI038121 SI. No. A. B. C. D. B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110016 Statement of Standalone Segment wise Revenue, Results, Assets and Liabilities for the quarter ended 30 June 2026 Quarter ended Particulars 30.06.2026 31.03.2026 (Unaudited) (Unaudited) Segment Revenue (Including allocable Other Income) - Transmission 9,704.30 9,715.68 - Consultancy 226.66 524.40 Total Revenue including allocable Other Income 9,930.96 10,240.08 Other unallocated income 1,439.08 1,714.62 Total Income 11,370.04 11,954.70 Segment Results Profit before Interest and Tax - Transmission 5,316 .20 5,174.56 - Consultancy 0.79 198.92 Total Profit before Interest and Tax 5,316.99 5,373.48 Add: Other unallocated income 1,439.08 1,714.62 Less: Unallocated interest and finance charges 2,514.78 2,614.27 Unallocated Expenses 119.20 39.51 Profit before Tax [including Regulatory Deferral Account Balances- 4,122.09 4,434.32 Operating] Less: Tax expense as per P&L 729.00 (4,596.60) Less: Tax Impact on regulatory deferral account balances (57.13) (808.22) Add: Regulatory Deferred account-Deferred Tax-lncome/(Expenses) [Refer (39.27) (5,286.34) note SJ Profit after tax 3,410.95 4,552.80 Segment Assets - Transmission 1,85,067.76 1,90,289 .81 - Consultancy 1,902.42 1,855.53 Unallocated Assets 93,525.08 87,075.05 Assets Classified as Held for Sale (refer note 3 & 4) 214.51 214.51 Total Assets 2,80,709.77 2,79,434.90 Segment Liabilities - Transmission 12,356.19 12,343.11 - Consultancy 2,534.45 2,514.87 Unallocated Liabilities 1,62,427.40 1,64,648.31 Total Liabilities 1,77,318.04 1,79,506.29 Notes: 30.06.2025 (Unaudited) 9,883.65 198.03 10,081.68 1,175.20 11,256.88 5,667.18 2.28 5,669.46 1,175.20 2,304.45 118.78 4,421.43 733.32 45.36 10.48 3,653.23 1,90,658.21 1,390.44 69,499.55 143.52 2,61,691.72 11,840.51 2,320.58 1,51,472.04 1,65,633.13 The operations of the Company are mainly carried out within the country and therefore, geographical segments are not applicable. (" in Crore) Year ended 31.03.2026 (Audited) 40,407.31 1,248.22 41,655.53 5,340.35 46,995.88 23,075.46 261.83 23,337.29 5,340.35 10,050.43 358.07 18,269.14 (1,985.51) (597.79) (4,931.44) 15,921.00 1,90,289.81 1,855.53 87,075.05 214.51 2,79,434.90 12,343.11 2,514.87 1,64,648.31 1,79,506.29
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§j~ f4I Power Grid Corporation of India Limited (A Govt. of India Enterprise) -[~ =~ CIN: L40101DL1989GOI038121 • ~ B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110016 Additional Information on Standalone basis pursuant to Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended as at and for the quarter ended 30 June 2026 (5' in Crore) SI. Quarter ended Year ended Particulars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 No. . (Unaudited) (Unaudited) (Unaudited) (Audited) 1 Reserves (excluding Revaluation Reserve) as per balance sheet 94,091.13 90,628.01 86,757.99 90,628.01 2 Net Worth 1,03,391. 73 99,928.61 96,058.59 99,928.61 3 Total Borrowings 1,45,586.45 1,48,009.01 1,30,645.77 1,48,009.01 4 Bonds Redemption Reserve 2,573.82 2,721.31 3,032.86 2,721.31 5 Debt Equity Ratio 1.41 1.48 1.36 1.48 {Total Borrowings/Shareholder's Equity] 6 Debt Service Coverage Ratio (DSCR) 1.36 2.11 1.04 1.54 {(Profit for the period + Depreciation and amortisation expense + Finance costs + FERV + Net Loss on Sale of Fixed Assets)/(Finance costs + lease Payments + Principal Repayments)] 7 Interest Service Coverage Ratio (ISCR) 3.52 4.13 4.00 3.93 {(Profit for the period + Depreciation and amortisation expense + Finance costs+ FERV + Net loss on Sale of Fixed Assets)/{Finance costs)] 8 Current Ratio 0.60 0.70 0.92 0.70 [Current Assets/Current Liabilities] 9 Long Term Debt to Working Capital 18.71 17.96 12.33 17.96 {(Non-Current Borrowings+Current Maturities of Long-term Borrowings)/ (Current Assets-Current Liabilities excluding Current Maturities of Long-term Borrowings)] 10 Bad debts to Account Receivable Ratio - - - - [Bad debts/Average Trade Receivables] 11 Current Lia bi I ity Ratio 0.21 0.23 0.17 0.23 [Current liabilities/Total liabilities] 12 Total Debts to Total Assets 0.52 0.53 0.50 0.53 [Total Borrowings/Total Assets] 13 Debtors Turnover 3.86 3.77 4.96 4.40 [Annualised Revenue from Operations/ Average Trade Receivables] 14 Inventory Turnover 25.93 28.44 28.74 28.95 [Annualised Revenue from Operations/Average Inventory] 15 Operating Margin (%) 97% 100% 97% 98% [Earnings before Interest, depreciation, Tax/Revenue from Operations] 16 Net Profit Margin {%) 35% 46% 37% 39% {Profit for the Peri ad/Revenue from Operations] Note: All ratios are calculated including assets classified as held for sale. ~
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,§~~ __ POWERGRID Notes to Standalone financial results: 1) (a) In exercise of powers u/s 178 of the Electricity Act 2003, Central Electricity Regulatory Commission (CERC) has notified "CERC (Terms and Conditions of Tariff) Regulations, 2024" vide notification dated 15 March, 2024 for the determination of transmission tariff for the block period 2024-29. (b) The company has recognised transmission income during the quarter ended 30 June 2026 as per the ·following: (i) , 9,019.03 crore for the quarter (corresponding previous quarter, 8,821.48 crore) as per tariff orders issued by CERC. (ii) , 497.05 crore for the quarter (corresponding previous quarter , 603.83 crore) provisionally as per CERC Tariff Regulations in respect of transmission assets for which tariff orders are yet to be issued. (c) Consequent to the final order issued by CERC, transmission income includes, 21.56 crore (decrease) for the quarter (corresponding previous quarter, 7.82 crore (increase)) pertaining to earlier years. 2) The Board of Directors of the Company in their meeting held on 19 March 2026 had approved the schemes of arrangement for merger/ amalgamation (here in after called as "Schemes") of- a) Wholly owned subsidiaries of the company namely, Powergrid Kudankulam Transmission Limited, Powergrid Barmer I Transmission Limited, Powergrid Bikaner IV Transmission Limited, Powergrid Siwani Transmission Limited, Powergrid Fatehgarh Barmer Augmentation Transmission Limited, Powergrid Ramgarh Transmission Limited, Powergrid Bhadla Transmission Limited, Powergrid Fatehgarh Transmission Limited , Powergrid Bikaner Transmission System Limited, Powergrid Narela Transmission Limited, Powergrid Khetri Transmission System Limited, Powergrid Ajmer Phagi Transmission Limited, Powergrid Varanasi Transmission System Limited, Powergrid Neemuch Transmission System Limited, Powergrid Mithilanchal Transmission Limited , Powergrid Medinipur Jeerat Transmission Limited, Powergrid Mahan Rewa Transmission Limited (collectively "Transferor Companies") with wholly owned subsidiary namely Powergrid Ghiror Transmission Limited ("Transferee Company") and b) Wholly owned subsidiaries of the company namely Powergrid Sirohi Transmission Limited, Powergrid Mandsaur Transmission Limited, Powergrid Mewar Transmission Limited, Powergrid Beawar-Mandsaur Transmission Limited, Powergrid Kurawar Transmission Limited, Powergrid Sirohi Khandwa Transmission Limited, Powergrid ER NER Transmission Limited, Powergrid Chitradurga Bellary Transmission Limite_d, Powergrid Kurnool-I11 CPETA Transmission Limited, Powergrid Jam Khambhaliya Transmission Limited, Powergrid Banaskantha Augmentation Transmission Limited (collectively "Transferor Companies") with wholly owned subsidiary namely Powergrid South Olpad Transmission Limited ("Transferee Company'') under section 230 to 233 of the Companies Act, 2013 and other statutory provisions as per the terms and conditions mentioned in the Schemes of Arrangement for merger/ amalgamation. 3) The Board of Directors in their meeting have accorded in principle approval for sale of entire stake in Joint Ventures (JVs) of the Company namely Torrent P w r Grid Limit ceased to be JV w.e.f 30 May -- ' ' : --J ;\c .
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=1=- ~ J~ ==s 2025) & Sikkim Power Transmission Limited on 19 May 2025 and Parbati Koldam Transmission Company Limited on 30 July 2025. Accordingly, investment in these JV Companies is classified as "Asset classified as held for sale" in line with Ind AS 105. 4) The Board of Directors in their meeting held on 09 March 2026 have accorded in principle approval for divestment of entire equity stake in Central Transmission Utility of India Limited (CTUIL) a Wholly owned subsidiary of the parent company to Grid Controller of India Limited (GRID-INDIA). Accordingly, investment in CTUIL is classified as "Assets classified as held for sale" in line with Ind AS 105. 5) Net movement in Regulatory Deferral Account Balances (net of tax) primarily comprises foreign exchange differences arising from settlement/translation of monetary items denominated in foreign currency, to the extent recoverable from or payable to the beneficiaries in subsequent periods. Further, deferred tax recognized during the year on transmission income is treated as "Deferred Assets against Deferred Tax Liability." Such deferred assets are to be reversed in subsequent periods when the corresponding deferred tax liability becomes part of current tax, in accordance with the provisions of CERC Tariff Regulations and Ind AS 114 on Regulatory Deferral Accounts. The detailed breakup of the same is as follows : (~ in Crore) Quarter ended Quarter Quarter Year ended SI ended ended Particulars 30-06-2026 31-03-2026 30-06-2025 31-03-2026 no (Unaudited) (Unaudited) (Unaudited) (Audited) 1 Deferred assets for deferred (39.27) (5,286.34) 10.48 (4,931.44) tax liability* 2 Foreign Currency Fluctuation {124.50) 660.35 248.93 1,506.77 3 Employee Benefits and Other 0.27 0.23 0.23 3.27 Expenses (163.50) (4,625.76) 259.64 (3,421.40) Tax on net movement in 4 regulatory deferral account (57.13) (808.22) 45.36 (597.79) balances Total (106.37) (3,817.54) 214.28 (2,823.61) *The movement in "Deferred assets against deferred Tax liability" is primarily attributable to the remeasurement of deferred tax balances pursuant to the enactment of the Rnance Act, 2026. In view of the Company's expected transition to the new tax regime under the Income-tax Act, 2025 in the near future, deferred tax balances have been measured using the applicable tax rates. This has resulted in a significant impact during the fourth quarter of FY 2025-26, which has been appropriately reflected in the Regulatory Deferral Account Balances. 6) Provision for taxes, employee benefits and other provisions for contingencies have been considered on estimated basis. 7) The above statement of Standalone financial results has been reviewed by the Audit Committee (consisting of two Non-executive Directors and one Executive Director (wholetime), pending ·~ 1, ·a ·- _..,,.•\•l· ) / ./
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appointment of Independent Directors), and thereafter has been considered and approved by the Board of Directors in their respective meetings held on 05 August 2026. 8) As required under regulation 33 and 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended to the extent applicable, the Statutory Auditors have conducted a limited review of the Standalone financial results for the quarter ended 30June 2026. 9) Previous period figures have been regrouped/ rearranged wherever considered necessary. Place: New Delhi Date: 05 August 2026 For and on behalf of POWER GRID CORPORATION OF INDIA LIMITED ~ Dr. Yatindra Dwivedi Director (Finance) DIN: 10301390
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ASA & Associates LLP Jain Paras Bilala & Co. Chartered _ \ccountants _ \urobindo Tower. Chartered . \ccountants 81/1 Third Floor Room no. 507. ;\farshall House _-\dchin~ _-\urobindo :\farg, 33/1, Netaji Subhas Road, New Delhi-110017 Kolkata, \X1est Bengal-700001 Sagar & Associates G. D. Apte & Co. Chartered _-\ccountants Chartered _-\ccountants H. No. 6-3-244/5, D-509, Neelkanth Busu1ess Park Sarada Devi Street, Prem Nagar, Nathani Road, Vidyavihar West, Hyderabad-500004 Mumbai---1-00086 Independent Auditors' Limited Review Report on the Unaudited Standalone Financial Results for the quarter ended June 30, 2026 of the Company pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations") To The Board of Directors, Power Grid Corporation of India Limited 1. We have reviewed the accompanying Statement of Unaudited Standalone Financial Results of Power Grid Corporation of India Limited ("the Company") for the quarter ended June 30, 2026 (hereinafter referred to as "the Statement"), being submitted by the Company pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"). 2. This Statement which is the responsibility of the Company's Management, has been reviewed and approved by the Company's Board of Directors, has been prepared in accordance with the recognition and measurement prmciples laid down in the Indian Accounting Standard 34 "Interinl Financial Reportrng" (Ind AS 34), prescribed under Section 133 of the Companies Act, 2013, as amended ("the .-\ct") read with relevant rules issued thereunder and other accountmg principles generally accepted m India and in compliance with Regulation 33 and 52 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the statement in accordance with the Standard on Review Engagement (SRE) 2410, "Review of Interinl Fmancial Information Performed by the Independent _-\uditor of the Entity", issued by the Institute of Chartered Accountants of India . This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement . • -\ review of Interun financial Information consists of making inquiries, prunarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less m scope than an audit conducted in accordance with the Standards on Auditing specified under section 143(10) of the .,\ct, and consequently, does not enable us to obtam assurance that we would become aware of all significant matters that might be identified m an audit. Accordmgly, we do not express an audit opmion. 4. Based on our review conducted as above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down m the aforesaid Indian .-\ccounting Standards (Ind AS') specified under Section 133 of the .-\ct, read with relevant rules issued thereunder and other accounting prmciples generally accepted m India, has not disclosed the information required to be disclosed m terms of the Listing Regulations, mcluding the manner m which it is to be disclosed, or that it contams any material misstatement. Page 1 of2
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::>. Other Matters a) ·n1e Statement includes the results for the quarter ended 31 March 2026 which are the balancing figures between the audited figures in respect of the full previous financial year and the published unaudited year to date figures up to the third quarter of the pre\·ious financial year, which were subjected to limited review, as required under the Listing Regulations. b) The Statement includes comparative figures for the corresponding quarter ended June 30, 2025. which have been reviewed by S. Ramanand _--\.iyar & Co., Jain Paras Bilala & Co., Sagar & _-\ssociates, and G.D. _-\pte & Co., where they have expressed an unmodified conclusion vi.de their report dated July 30, 2025 on such unaudited Standalone Financial Results. Our conclusion on the Statement is not modified in respect of the above matters. For ASA & Associates LLP Chartered Accountants FRN:009571N/N50006 Partner M. No. 522045 UD IN :26522045FEDOBN7 552 For Sagar & Associates Chartered Accountants FRN:003510S ,., B. Nehitha Partner M. No. 292123 UD IN: 26292123TEZBWC7 339 Place: New Delhi Date: .-\ugust 05, 2026 For Jain Paras Bilala & Co. Chartered Accountants FRN: 011046C ~°'---~~ ParasB ~ Partner M. No. 400917 UDIN: 26400917GJHLCN4956 For G. D. Apte & Co. Chartered ~-\ccountants FRN: 100515\-X' ~ Anagha M. Nanivadekar Partner M. No. 121007 UDIN: 26121007REFSPZ827 Page 2 of2
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§l~ fcil Power Grid Corporation of India Limited (A Govt. of India Enterprise) J;.... =,! S CIN : L40101DL1989GOI038121 - - B--9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110016 Statement of Unaudited Consolidated Financial Results for the quarter ended 30 June 2026 (it in Crore) SI. Quarter ended Year ended No. Particulars 30.06.2026 31.03.2026 30.06.202S 31.03.2026 (Unaudited) (Unaudited) (Unaudited) (Audited) Income I Revenue From Operations 11,496.72 11,665.61 11,196.22 46,732.87 II Other Income 200.00 305.08 248.20 951.56 Ill Total Income (1+11) 11,696.72 11,970.69 11,444.42 47,684.43 IV Expenses Employee benefits expense 673.73 701.01 640.57 2,668.90 Finance costs 2,022.94 2,174.73 1,934.28 8,447.58 Depreciation and amortisation expense 3,128.47 3,294.63 3,130.47 13,029.68 Other expenses 1,286.52 1,898.99 1,408.91 6,084.90 Total Expenses (IV) 7,111.66 8,069.36 7,114.23 30,231.06 V Profit before Share of net profits of investments in Joint Ventures accounted for using Equity Method, Tax and Regulatory Deferral Account 4,585.06 3,901.33 4,330.19 17,453.37 Balances (Ill-IV) VI Share of net profits/(loss) of investments in Joint Ventures accounted for (44.44) (132.34) usini;i Equity Method 2.26 16.99 VII Profit before Tax and Regulatory Deferral Account Balances (V+VI) 4,587.32 3,918.32 4,285 .75 17,321.03 VIII Tax expense: Current tax - Current Year 815.60 754.00 775.05 3,164.61 - Earlier Years 1.13 34.69 - 34.69 Deferred tax 66.01 (5,179.80) 92.94 (4,580.61) 882.74 (4,391.11) 867.99 (1,381.31) IX Profit for the period before Regulatory Deferral Account Balances (VII-VIII) 3,704.58 8,309.43 3,417.76 18,702.34 X Net movement in Regulatory Deferral Account Balances - (106.16) (3,763.10) (2,774.39) lncome/(Expenses) (net of tax) 212.82 XI Profit for the period (IX+X) 3,598.42 4,546.33 3,630.58 15,927.95 XII Other Comprehensive Income Items that will not be reclassified to profit or loss (net of tax) 64.33 22.11 189.72 173.54 Items that will be reclassified to profit or loss (net of tax) (121.79) 33.57 - 93.52 Share of Other Comprehensive Income of Joint Ventures accounted for (13.75) (4.36) 1.04 (1.23) using Equity Method XIII Total Comprehensive Income for the period (Xl+XII) 3,527.21 4,597.65 3,821.34 16,193.78 XIV Paid up Equity Share Capital (Face value of share : ;i;: 10/- each) 9,300.60 9,300.60 9,300.60 9,300.60 . xv Earnings per equity share including movement in Regulatory Deferral Account Balances (Face value of U0/- each): Basic & Diluted (In~) * 3.87 4.89 3.90 17.13 XVI Earnings per equity share excluding movement in Regulatory Deferral Account Balances (Face value of U0/- each): Basic & Diluted (In~) * 3.98 8.94 3.67 20.11 Refer accompanying notes to the financial results. (*) Figures for the quarters have not been annualized
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1f!lt§.. fcil Power Grid Corporation of India Limited (A Govt. of India Enterprise) ==d~ Qlc:ii! s - f= POWERGRID CIN : L40101DL1989GOI038121 B-9, Qutab Institutional Area, Katwarla Sarai, New Delhi-110016 Statement of Consolidated Segment wise Revenue, Results, Assets and Liabilities for the quarter ended 30 June 2026 SI. Quarter ended Particulars 30.06.2026 31.03.2026 No. (Unaudited) (Unaudited) A. Segment Revenue (including allocable Other Income) - Transmission 10,929.16 10,865.09 - Consultancy 518.73 830.53 - Telecom 251.77 315.73 Total 11,699.66 12,011.35 Less: Inter Segment Revenue 117.81 152.12 Total Revenue including allocable Other Income 11,581.85 11,859.23 Other unallocated income 114.87 111.46 Total Income 11,696.72 11,970.69 B. Segment Results Profit before Interest and Tax - Transmission 6,361.20 6,310.60 - Consultancy 30.07 240.53 - Telecom 97.97 140.27 Total Profit before Interest and Tax 6,489.24 6,691.40 Add: Share of net profits of investments in Joint Ventures accounted for using 2.26 16.99 Equity Method Other unallocated income 114.87 111.46 Less: Unallocated interest and finance charges 2,022.94 2,174.73 Unallocated Expenses 120.34 66.22 Profit before Tax [including Regulatory Deferral Account Balances- 4,463.09 4,578.90 Operating) Less: Tax expense as per P&L 882.74 (4,391.11) Less: Tax Impact on regulatory deferral account balances {57.10) (796.70) Add: Regulatory Deferred account-Deferred Tax-lncome/(Expenses) [Refer (39.03) (5,220.38) Note 5) Profit after tax 3,598.42 4,546.33 C. Segment Assets - Transmission 2,26,732.04 2,30,311.08 - Consultancy 4,659.78 4,624.52 - Telecom 2,202.76 2,122.61 Unallocated Assets 57,315.30 54,712.90 Assets Classified as Held for Sale (refer note 3 & 4) 2,917.05 2,956.15 Total Assets 2,93,826.93 2,94,727.26 D. Segment Liabilities - Transmission 10,785.21 10,771.36 - Consultancy 4,845.58 4,860.41 - Telecom 1,317.69 1,309.86 Unallocated Liabilities 1,70,304.64 1,74,689.55 Liabilities directly associated with Assets Classified as Held for Sale (Refer 2,545.51 2,602.05 Note4) Total Liabilities 1,89,798.63 1,94,233.23 Notes 30.06.2025 (Unaudited) 10,694.66 405.92 289.49 11,390.07 78.64 11,311.43 132.99 11,444.42 6,328.06 30.61 141.67 6,500.34 (44.44) 132.99 1,934.28 119.70 4,534.91 867.99 45.05 8.71 3,630.58 2,17,088.68 3,384.72 1,906.98 48,381.63 205.02 2,70,967.03 12,910.26 3,958.72 1,014.28 1,56,601.80 . 1,74,485.06 The operations of the Group are mainly carried out within the country and therefore , geographical segments are not applicable. -- (" in Crore) Year ended 31.03.2026 (Audited) 44,082.74 2,347.36 1,195.07 47,625.17 419.23 47,205.94 478.49 47,684.43 26,353.13 403.38 565.99 27,322.50 (132.34) 478.49 8,447.58 390.00 18,831.07 {1,381.31) {587.38) (4,871.81) 15,927.95 2,30,311.08 4,624.52 2,122.61 54,712.90 2,956.15 2,94,727.26 10,771.36 4,860.41 1,309.86 1,74,689.55 2602.05 1,94,233.23
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,:ua-.:!fcils Power Grid Corporation of India Limited (A Govt. of India Enterprise) POWERGRID CIN : L40101DU989GOI038121 B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110016 Additional Information on Consolidated basis pursuant to Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended as at and for the quarter ended 30 June 2026 (" in Crore) SI. Quarter ended Year ended Particulars 30.06.2026 31.03.2026 30.06.2025 31.03.2026 No. (Unaudited) (Unaudited) (Audited) (Unaudited) 1 Reserves (excluding Revaluation Reserve) as per balance sheet 94,727.70 91,193.43 87,181.37 91,193.43 2 Net Worth 1,04,028.30 1,00,494.03 96,481.97 1,00,494.03 3 Total Borrowings 1,45,586.45 1,48,009.01 1,30,645.77 1,48,009.01 4 Bonds Redemption Reserve 2,573.82 2,721.31 3,032.86 2,721.31 5 Debt Equity Ratio 1.40 1.47 1.35 1.47 [Total Borrowings/Shareholder's Equity] 6 Debt Service Coverage Ratio (DSCR) 1.46 2.25 1.06 1.61 [(Profit for the period + Depreciation and amortisation expense + Finance costs + FERV + Net Loss on Sale of Fixed Assets)/(Finance costs + Lease Payments + Principal Repayments)] 7 Interest Service Coverage Ratio (ISCR) 4.32 4.85 4.64 4.57 [(Profit for the period + Depreciation and amortisation expense + Finance costs + FERV + Net Loss on Sale of Fixed Assets)/(Finance costs)] 8 Current Ratio 0.57 0.62 0.86 0.62 [Current Assets/Current Liabilities] 9 Long Term Debt to Working Capital 84.84 * 17.11 * [(Non-Current Borrowings+Current Maturities of Long-term Borrowings)/ (Current Assets-Current Liabilities excluding Current Maturities of Long-term Borrowings)] 10 Bad debts to Account Receivable Ratio - - - - [Bad debts/Average Trade Receivables] 11 Current Liability Ratio 0.26 0.28 0.20 0.28 [Current Liabilities/Toto/ Liabilities] 12 Total Debts to Total Assets 0.50 0.50 0.48 0.50 [Toto/ Borrowings/Total Assets] 13 Debtors Turnover 4.15 3.97 5.06 4.61 [Annualised Revenue from Operations/Average Trade Receivables] 14 Inventory Turnover 21.58 23.62 23.73 23.78 [Annualised Revenue from Operations/Average Inventory] 15 Operating Margin (%) 83% 84% 85% 85% [Earnings before Interest, depreciation, Tax/Revenue from Operations] 16 Net Profit Margin (%) 31% 39% 32% 34% [Profit for the Period/Revenue f rom Operations] Note: All ratios are calculated including assets classified as held for sale and liabilities directly associated with assets classified as held for sale * Ratio cannot be calculated as denominator is negative
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_ qich!Fci)s Power Grid Corporation of India Limited (A Govt. of India Enterprise) ~ POWERGAJD CIN : L40101DL1989GOI038121 B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110016 The Subsidiaries & Joint Venture Companies considered in Unaudited Consolidated Financial Results for the quarter ended 30 June 2026 Subsidiary Companies Ownership (%) Incorporated in India 1 Powergrid Vemagiri Transmission Limited 100% 2 Powergrid NM Transmission Limited 100% 3 Powergrid Unchahar Transmission Limited 100% 4 Powergrid Southern lnterconnector Transmission System Limited 100% 5 Powergrid Medinipur Jeerat Transmission Limited 100% 6 Powergrid Mithilanchal Transmission Limited 100% 7 Powergrid Varanasi Transmission System Limited 100% 8 Powergrid Jawaharpur Firozabad Transmission Limited 100% 9 Powergrid Khetri Transmission System Limited 100% 10 Powergrid Bhuj Transmission Limited 100% 11 Powergrid Bhind Guna Transmission Limited 100% 12 Powergrid Ajmer Phagi Transmission Limited 100% 13 Powergrid Fatehgarh Transmission Limited 100% 14 Powergrid Rampur Sambhal Transmission Limited 100% 15 Powergrid Meerut Simbhavali Transmission Limited 100% 16 Central Transmission Utility of India Limited 100% 17 Powergrid Ramgarh Transmission Limited 100% 18 Powergrid Himachal Transmission Limited 100% 19 Powergrid Bikaner Transmission System Limited 100% 20 Powergrid Sikar Transmission Limited 100% 21 Powergrid Bhadla Transmission Limited 100% 22 Powergrid Aligarh Sikar Transmission Limited 100% 23 Powergrid Teleservices Limited 100% 24 Powergrid Energy Services Limited 100% 25 Powergrid Narela Transmission Limited 100% 26 Powergrid Gomti Yamuna Transmission Limited 100% 27 Powergrid Neemuch Transmission System Limited 100% 28 Powergrid ERNER Transmission Limited 100% 29 Powergrid Khavda 11-C Transmission Limited 100% 30 Powergrid Vataman Transmission Limited 100% 31 Powergrid Khavda IV-E2 Power Transmission Limited 100% 32 Powergrid Mandsaur Transmission Limited 100% 33 Powergrid Mewar Transmission Limited 100% 34 Powergrid Sirohi Transmission Limited 100% 35 Powergrid Beawar-Mandsaur Transmission Limited 100% 36 Powergrid Bhadla-111 Power Transmission Limited 100% 37 Powergrid Bhadla Bikaner Transmission Limited 100% 38 Powergrid South Olpad Transmission Limited 100% 39 Powergrid Kurawar Transmission Limited 100% 40 Powergrid Jam Khambhaliya Transmission Limited 100% tt ~-
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41 42 43 44 45 46 47 48 49 so 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 Qlci..!lias Power Grid Corporation of India Limited (A Govt. of India Enterprise) _F POWERGRID CIN : L40101DL1989GOI038121 B-9, Qutab Institutional Area, Katwaria Sarai, New Delhl-110016 Powergrid Khavda PSl And 3 Transmission Limited Powergrid Barmer I Transmission Limited Powergrid Bikaner IV Transmission Limited Powergr id Siwani Transmission Limited Powergr id West Central Transmission Limited Powergr id Ghiror Transmission Limited Powergrid Kudankulam Transmission Limited Powergrid Koppal Gadag Augmentation Transmission Limited Powergrid Bidar Augmentation Transmission Limited Powergrid KPS 1 and 2 Augmentation Transmission Limited Powergrid Chitradurga Bellary Transmission Limited Powergrid Fatehgarh Barmer Augmentation Transmission Limited Powergrid Banaskantha Augmentation Transmission Limited Powergrid Kurnool-lV Transmission Limited Powergrid Sirohi Khandwa Transmission Limited Powergrid Kurnool -11I CPETA Transmission Limited Powergrid Mahan Rewa Transmission Limited Powergrid Davanagere Augmentation Transmission Limited Powergrid Mandsaur Augmentation Transmission Limited Powergrid Prayagraj Transmission Limited Powergrid Parli Bidar Transmission Limited Powergrid Angul Srikakulam Transmission Limited Powergrid Bellary Davanagere Transmission Limited Powergrid West Maharashtra Transmission Limited (Formerly Known as NES Pune East New Transmission Limited) Powergrid Tumkur Madhugiri Transmission Limited (Formerly Known as Tumkur II RE Transmission Limted) 1 Kakinada I Transmission Limited 2 WR ER Part A Power Transmission Limited 3 1 100% equity acquired from PFC Consulting Limited on 29.05.2026 ' 100% equity acquired from PFC Consulting Limited on 29.06.2026 ' 100% equity acquired from REC Power Development and Consultancy Limited on 30.06.2026 Joint Ventures Incorporated in India 1 Powerlinks Transmission Limited 2 Torrent Power Grid Limited 1 3 Parbati Koldam Transmission Company Limited 2 4 Sikkim Power Transmission Limited 3 5 North East Transmission Company Limited 6 National High Power Test Laboratory Private Limited 7 Bihar Grid Company Limited 8 Energy Efficiencv Services Limited" 9 Cross Border Power Transmission Company Limited 10 RINL PowerRrid TLT Private Limited 4 11 Butwal-Gorakhpur Cross Border Power Transmission Limited 12 Rajasthan Power Grid Transmission Company Limited 5 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% Ownership(%) 49% 9.75% 26% 30.92% 26% 50% 50% 39.25% 41.94% 50% 50% 74%
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13 14 q ld-i!fci}s POWERGRID Power Grid Corporation of India Limited (A Govt. of India Enterprise) CIN : L40101DU989GOI038121 8-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110016 Incorporated outside India Power Transmission Company Nepal Limited 6 Mwanga Transmission Company Limited 7 I 26% l 40% 1 POWERGRID & Torrent Power Transmission Private Ltd are the Joint venture partners in Torrent Power Grid Limited & holds 26% & 74 % equity, respectively as per Shareholding agreement. On call of additional equity by Torrent Power Grid Limited, POWERGRID has not contributed their share while the other JV partner has contributed their share of money. Consequently, the holding of POWERGRID decreased to 9.75% against 26% provided in shareholding agreement and ceased to be a JV of the company w.e.f 3D May 2025. Board of Directors have accorded In principle approval for sale of entire stake in their meeting dated 19 May 2025. Accordingly, investment in JV Company is classified as Asset held for sale in line with Ind AS 105. 2 Board of Directors have accorded in principle approval for sale of entire stake in their meeting dated 30 July 2025. Accordingly, investment In JV Company is classified as Asset held for sale in line with Ind AS 105. 3 Board of Directors have accorded in principle approval for sale of entire stake in their meeting dated 19 May 2025. Accordingly, investment in JV Company is classified as Asset held for sale in line with Ind AS 105. 4 POWERGRID's Board of Directors in its meeting held on 01.05.2018 accorded in principle approval to close RINL Powergrid TLT Private Limited (RPTPL) and seek consent of other JV Partner Rashtriya lspat Nigam Limited (RINL). RINL's Board of Directors in its meeting held on 08.03.2019 has agreed in principle for winding up proceedings of RPTPL & to seek the approval from Ministry of Steel (MoS), Government of India, for closure of RPTPL. The approval for closure of RPTPL was received on 11.07.2022 from Mos. Contractor for site enabling works has served notice for arbitration on 17.12.2022 . Final settlement was recommended in the final conciliation meeting held on 12.04.2025. JV partners infused further capital towards payment of final claims and liabilities. All payments are done by 28.08.2025. Powergrid has sought approval from Ministry of Power (MoP) for the closure on 25.08.2025. Upon receipt of approval of Ministry of Power, with the approval of Board and Shareholders by way special resolution, RPTPL will initiate actions for voluntary winding up to close the company. The company is in the process of winding up. 5 Incorporated on 27.11.2024 for development of Intra-State Transmission System in the State of Rajasthan with an equity participation of 74% by the company and 26% by Rajasthan Rajya Vidyut Prasaran Nigam Limited. Being a jointly controlled entity of the Company and RRVPNL, it is considered as 'Joint Venture' of the Company 6 The Board of Directors of the company have, in its meeting held on 16 December 2023, approved the proposal for purchase of 1,30,000 no. equity shares held by IL&FS Energy Development Co Ltd in PTCN (Joint venture of the company). Presently, approvals from relevant authorities is awaited. 7 The company is incorporated as a private company under the provisions of the 'Companies Act, 2015' of Kenya. The certificate of incorporation was issued by the Registrar of companies, Kenya on 21st April 2026. There is no equity infused as on 30.06.2026 # Subsidiaries of Joint Venture a) EESL EnergyPro Assets Limited* b) EESL Energy Solutions LLC* c) Convergence Energy Services Limited *incorporated outside India . p ({~ / ,· -"·
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Notes to Consolidated financial results: 1. (a) In exercise of powers u/s 178 of the Electricity Act 2003, Central Electricity Regulatory Commission (CERC) has notified "CERC (Terms and Conditions of Tariff) Regulations, 2024" vide notification dated 15 March, 2024 for the determination of transmission tariff for the block period 2024-29. (b) In respect of projects whose tariffs are determined by CERC, the Group has recognised Transmission income during the quarter ended 30 June 2026 as per the following: (i) ~ 9,039.95 crore for the quarter (corresponding previous quarter ~ 8,842.50 crore) as per tariff orders issued by CERC. (ii) ~ 530.43 crore for the quarter (corresponding previous quarter ~ 621.80 crore) provisionally as per CERC Tariff Regulations in respect of transmission assets for which tariff orders are yet to be issued. (c) Consequent to the final order issued by CERC, transmission income includes ~ 21.56 crore (decrease) for the quarter (corresponding previous quarter~ 7.82 crore (increase)) pertaining to earlier years. 2. The Board of Directors of the Holding Company in their meeting held on 19 March 2026 had approved the schemes of arrangement for merger/ amalgamation (here in after called as "Schemes") of - • Wholly owned subsidiaries of the company namely, Powergrid Kudankulam Transmission Limited, Powergrid Barmer I Transmission Limited, Powergrid Bikaner IV Transmission Limited, Powergrid Siwani Transmission Limited, Powergrid Fatehgarh Barmer Augmentation Transmission Limited, Powergrid Ramgarh Transmission Limited, Powergrid Bhadla Transmission Limited, Powergrid Fatehgarh Transmission Limited , Powergrid Bikaner Transmission System Limited, Powergrid Narela Transmission Limited, Powergrid Khetri Transmission System Limited, Powergrid Ajmer Phagi Transmission Limited, Powergrid Varanasi Transmission System Limited , Powergrid Neemuch Transmission System Limited, Powergrid Mithilanchal Transmission Limited , Powergrid Medinipur Jeerat Transmission Limited, Powergrid Mahan Rewa Transmission Limited (collectively "Transferor Companies") with wholly owned subsidiary namely Powergrid Ghiror Transmission Limited ("Transferee Company") and • Wholly owned subsidiaries of the company namely Powergrid Sirohi Transmission Limited, Powergrid Mandsaur Transmission Limited, Powergrid Mewar Transmission Limited, Powergrid Beawar-Mandsaur Transmission Limited, Powergrid Kurawar Transmission Limited, Powergrid Sirohi Khandwa Transmission Limited, Powergrid ER NER Transmission Limited, Powergrid Chitradurga Bellary Transmission Limited, Powergrid Kurnool-111 CPETA Transmission Limited, Powergrid Jam Khambhaliya Transmission Limited, Powergrid Banaskantha Augmentation Transmission Limited (collectively "Transferor Companies") with wholly owned subsidiary namely Powergrid South Olpad Transmission Limited ("Transferee Company") under section 230 to 233 of the Companies Act, 2013 and other statutory provisions as per the terms and conditions mentioned in the Schemes of arrangement for merger/amalgamation.
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~r== 3. The Board of Directors in their meeting have accorded in principle approval for sale of entire stake in Joint Ventures (JVs) of the Company namely Torrent Power Grid Limited (ceased to be JV w.e.f 30 May 2025} & Sikkim Power Transmission Limited on 19 May 2025 and Parbati Koldam Transmission Company Limited on 30 July 2025. Accordingly, investment in these JV Companies is classified as "Asset classified as held for sale'' in line with Ind AS 105. 4. The Board of Directors in their meeting held on 09 March 2026 have accorded in principle approval for divestment of entire equity stake in Central Transmission Utility of India Limited (CTUIL} a Wholly owned subsidiary of the parent company to Grid Controller of India Limited (GRID-INDIA). Accordingly, investment in CTUIL is classified as "Assets classified as held for sale" in line with Ind AS 105. 5. Net movement in Regulatory Deferral Account Balances (net of tax) primarily comprises foreign exchange differences arising from settlement/translation of monetary items denominated in foreign currency, to the extent recoverable from or payable to the beneficiaries in subsequent periods. Further, deferred tax recognized during the year on transmission income is tr:eated as "Deferred Assets against Deferred Tax Liability." Such deferred assets are to be reversed in subsequent periods when the corresponding deferred tax liability becomes part of current tax, in accordance with the provisions of CERC Tariff Regulations and Ind AS 114 on Regulatory Deferral Accounts. The detailed breakup of the same is as follows: (~ in Crore) Quarter ended Quarter Quarter Year ended SI ended ended Particulars 30-06-2026 31-03-2026 30-06-2025 31-03-2026 no (Unaudited) (Unaudited) (Unaudited) (Audited) 1 Deferred assets for deferred tax liability* (39.03) (5,220.38) 8.71 (4,871.81) 2 Foreign Currency Fluctuation (124.50) 660.35 248.93 1,506.77 3 Employee Benefits and Other Expenses 0.27 0.23 0.23 3.27 (163.26) (4,559.80) 257.87 (3,361.77) Tax on net movement in 4 regulatory deferral account balances (57.10) (796.70} 45.05 (587.38} Total (106.16) (3,763.10} 212.82 (2,774.39) *The movement in "Deferred assets against deferred Tax liability" is primarily attributable to the remeasurement of deferred tax balances pursuant to the enactment of the Finance Act, 2026. In view of the Company's expected transition to the new tax regime under the Income-tax Act, 2025 in the near future, deferred tax balances have been measured using the applicable tax rates. This has resulted in a significant impact during the fourth quarter of FY 2025-26, which has been appropriately reflected in the R_egulatory Deferral Account Balances. 6. Provision for taxes, employee benefits and other provisions for contingencies have been considered on estimated basis. ~ E BAD ~\ ~? ~- ~ ' ' .. 1104 oc1_,.,rA ~ i?~D Acco-s
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41~ ~,-r.:::r-irE'.::tt:=a- _r_ 7. The above statement of Consolidated financial results has been reviewed by the Audit Committee (consisting of two Non-executive Directors and one Executive Director, pending appointment of Independent Directors}, and thereafter has been considered and approved by the Board of Directors in their respective meetings held on 05 August 2026. 8. As required under regulation 33 and 52 of SEBI (Listing Obligations and Disclosure Requirements) Regulations 2015, as amended to the extent applicable, the Statutory Auditors have conducted a limited review of the Consolidated financial results for the quarter ended 30 June 2026. 9. Previous period figures have been regrouped/ rearranged wherever considered necessary. Place: New Delhi Date: 05 August 2026 For and on behalf of POWER GRID CORPORATION OF INDIA LIMITED ~ Dr. Yatindra Dwivedi Director (Finance) DIN: 10301390
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ASA & Associates LLP Jain Paras Bilala & Co. ( :Irnrtercd . \ccounrants Chartered .\ccountants .\urobindo Tower, Room no. 5ff7. l\Iarshall House 81 / I Third floor 33/ I, Netaji Subhas Road, \dchinL _\urobindo :\farg, Kolkata, \'('est Benga)-700001 Ne\\. Delhi-1 lOUl: Sagar & Associates G. D. Apte & Co. Chartered _\ccountants Chartered _\ccountants H. No. 6-3-244 / 5, D-509, Neelkanth Business Park Sarada Devi Street, Prem Nagar, Nathani Road, Vidyavihar West, H yderabad-500004 Mum bai-400086 Independent Auditors' Limited Review Report on the Unaudited Consolidated Financial Results for the quarter ended June 30, 2026 of the Company pursuant to the Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing Regulations") To The Board of Directors, Power Grid Corporation of India Limited 1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results of Power Grid Corporation of India Limited ("the Holding Company") and its subsidiaries (the Holding Company and its subsidiaries together referred to as "the Group"), and its share of the net profit/ (loss) after tax and share of total comprehensive income / (loss) of its joint ventures for the quarter ended June 30, 2026 (hereinafter referred to as "the Statement"), being submitted by the Holding Company pursuant to the requirement of Regulation 33 and Regulation 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended ("the Listing Regulations"). 2. This Statement, which is the responsibility of the Holding Company's Management and approved by the Holding Company's Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in Indian .\ccounting Standard 34 "Interim Financial Reporting'' ("Ind AS 34"), prescribed under Section 133 of the Companies Act, 2013, as amend ed ("the _\ct"), read with relevant rules issued thereunder and other accounting principles generally accepted in India and in compliance with Regulation 33 and 52 of the Listing Regulations. Our responsibility is to express a conclusion on the Statement based on our review. 3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 241 U "Review oflnterirn Financial Information Performed by the Independent .\uditor of the Entity", issued by the Institute of Chartered ,\ccountants of India. This Standard requires that we plan and perform the review to obtain moderate assurance as to whether the Statement is free of material misstatement. A review of interim financial infom1ation consists of making inquiries, prin1arily of persons responsible for financial and accounting matters, and applying analytical and other review procedures . . \ review is substantially less in scope than an audit conducted in accordance with Standards on .-\uditing under section 143(10) of the Act, and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33 (8) of the Listing Regulations, as amended, to the extent applicable. 4. The Statement includes the results of the Holding Company and the following entities: List of Subsidiaries: 1. Powergrid Vemagiri Transmission Lin1ited 11. Powergrid NM Transmission Limited 111. Powergrid Unchahar Transmission Limited 1v. Powergrid Southern Interconnector Transmission System Limited Page 1 of 5
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Y. YI. YI!. \"111. IX. x. X1. Xll. Xlll. xiv. x-v. xvi. XVll. XV111. xix . xx. XX1. XXll. XX111. XX1V. XX'"V. XXVl, XXVll. XXV111. XX1X. XXX. XXXl. XXXll. XXX111. XXX1V. XXXV. XXXVI. XXXVll. XXXV111. XXXlX. xl. xli. x.lii. xliii. xliv. xlv. xlvi. xlvii. xlviii. xlix. L Ii. Iii. liii. liv. lv. lvi. !vii. !viii. lix. Ix. !xi. PmYergrid ,\Iedinipur J eerat Transmission J .imitl'd Powl'rgrid ,\fithilanchal Trammission I .imited Powergrid \' aranasi Transmission System Limited Powergrid J awaharpur Firozabad Transmission I .united Powergrid Khetri Transmission System Litnited Powergrid Bhuj Transmission Litnited Powcrgrid Bhind Guna Transmission Litnited Powergrid Ajmer Phagi Transmission Limited Powergrid Fatehgarh Transmission Litnited Powergrid Rampur Sambhal Transmission Litnited Powergrid l\feerut Simbhavali Transmission Litnited Central Transmission Utility of India Litnited Powergrid Ramgarh Transmission Litnited Powergrid Hitnachal Transmission Litnited Powergrid Bikaner Transmission System Litnited Powergrid Sikar Transmission Litnited Powergrid Bhadla Transmission Litnited Powergrid Aligarh Sikar Transmission Litnited Powergrid Teleservices Llmited Powergrid Energy Services Litnited Powergrid Narela Transmission Limited Powergrid Gomti Yamuna Transmission Litnited Powergrid Neemuch Transmission System Litnited Powergrid ERNER Transmission Litnited Powergrid Khavda II-C Transmission Limited Powergrid Vataman Transmission Limited Powergrid Khavda IV-E2 Power Transmission Limited Powergrid Mandsaur Transmission Limited Powergrid Mewar Transmission Litnited Powergrid Sirohi Transmission Litnited Powergrid Beawar-Mandsaur Transmission Limited Powergrid Bhadla-III Power Transmission Litnited Powergrid Bhadla Bikaner Transmission Litnited Powergrid South Olpad Transmission Litnited Powergrid Kurawar Transmission Litnited Powergrid Jam Khambhaliya Transmission Llmited Powergrid Khavda PS1 And 3 Transmission Litnited Powergrid Barmer I Transmission Litnitcd Powergrid Bikaner IV Transmission Litnited Powergrid Siwani Transmission Litnited Powergrid West Central Transmission Litnited Powergrid Ghiror Transmission Litnited Powergrid Kudankulam Transmission Litnited Powergrid Koppa! Gadag Augmentation Transmission Litnited Powergrid Bidar Augmentation Transmission Litnited Powergrid KPS 1 and 2 Augmentation Transmission Litnited Powergrid Chitradurga Bellary Transmission Litnited Powergrid Fatehgarh Barmer Augmentation Transmission Litnited Powergrid Banaskantha Augmentation Transmission Litnited Powergrid Kurnool-IV Transmission Litnited Powergrid Sirohi Khandwa Transmission Litnited Powergrid Kurnool-III CPETA Transmission Litnited Powergrid Mahan Rewa Transmission Litnited Powergrid Davanagere :\ugmentation Transmission Litnited Powergrid Mandsaur .Augmentation Transmission Limited Powergrid Prayagraj Transmission Litnited Powergrid Parli Bidar Transmission Limited Page 2 of 5
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11 ill iv V Vl vu V111 ix X Xl Xll X111 XlV Lxii. Powcrgrid :\ngul Srikakulam Transmission Limited (Est,,·hile SR and ER Po\\Tr Transmission I ,imite<l) !xiii. Powergrid Bellary Dannagere Transmission Limited !xi,·. Powergrid \\'est \1aharashtra Transmission Limited (Erstwhile :!\"ES Pune East Ne,,· Transmission Limited) lxv. Po,vergrid Tumkur J\fadhugiri Transmission Limite<l (Ersnvhile Tumkur lI RE Transmission Limted) 1 I.xvi. Kakinada I Transmission Limited2 I.xvii. \X'R ER Part .\ Power Transmission Limited3 1 100% equity acquired from PFC Consulting Limited on 29/05/2026 2 100% equity acquired from PFC Consulting Limited on 29/06/2026 3 100% equity acquired from REC Power Development and Consulting Limited on 30/06/2026 List of Joint Ventures: Powerlinks Transmission Limited Torrent Power Grid Limited 1 Parbati Koldam Transmission Company Limited Sikkim Power Transmission Limited North East Transmission Company Limited National High Power Test Laboratory Private Limited Bihar Grid Company Limited Energy Efficiency Services Limited Cross Border Power Transmission Company Limited RINL Powergrid TL T Private Limited2 Butwal-Gorakhpur Cross Border Power Transmission Limited Rajasthan Power Grid Transmission Company Linuted Power Transmission Company Nepal Limited 3 Mwanga Transmission Company Limited+ 1. The shareholding of the company was reduced to 9.75°'0 and ceased to be J\' of the company on I\fay 30, 2025 as Torrent Power Limited OV partner) has infused additional equity. 2- Under process of liquidation 3. Located outside India +. Incorporated outside India on .-\pril 21, 2026 as a Private Company under the provision of the Companies .\ct 2015 of Kenya List of Subsidiaries of joint Ventures 1. EESL EnergyPro Assets Limited' u. EESL Energy Solution LLC1 111. Convergence Energy Services Limited 1 Incorporated outside India 5. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of the other auditors referred to in paragraph 6 (a) below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in Ind AS 34, prescribed under section 133 of the Act, read with relevant rules issued thereunder and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains any material misstatement. Page 3 of 5
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6. Other Matters a) \'X'e did not re,·iew the interim financial results / financial information of 36 subsidiaries included in the Statement, whose results reflect total revenue of Rs. 1.043.69 Crore. total net profit after tax of Rs. 300.9() Crore, and total comprehensive income of Rs. 300.9() Crore for the quart er ended June 30, 2026, respectively. as considered in the Statement. The Statement also includes the Group's share of net profit after tax of Rs. 8.51 Crore and total comprehensive income of Rs. 8.51 Crore for the quarter ended June 30, '.2026, in respect of~ joint venture. This interim financial results/financial infonnation, relating to the above subsidiaries and joint ventures, have not been reviewed by us. This interim financial results / financial _information have been reviewed by other auditors whose reports have been furnished to us by the Management . Our conclusion on the. Statement , to the extent it relates to the amounts and disclosures included in respect to these subsidiari es and joint ventures, is based solely on the reports of such other auditors and the procedures performed by us as stated in paragraph 3 above . b) The Statement includes the interim financial results / financial information of 31 subsidiaries, whose interim financial results / financial information reflect total revenue of Rs. 815.74 Crore, total net profit after tax of Rs. 152.33 Crore, and total comprehensive income of Rs. 54.80 Crore for the quarter ended June 30, 2026, respectively, as considered in the Statement. The Statement also includes the Group's share of net profit/Qoss) after tax of Rs. (6.25) Crore, and total comprehensive income/Qoss) of Rs. (20.00) Crore for the quarter ended June 30, 2026, respectively, as considered in the Statement, in respect of 10 joint ventures . These interim financial results / financial information prepared by the management of those subsidiaries and joint ventures have been furnished to us by the management without being subjected to review by their respective auditors . Our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and joint ventures, is based solely on such manag ement prepared interim financial results/ financial information. According to the information and explanations given to us by the management, the afor esaid interim financial results/ financial information are not material to the Group. c) The Statement includes the results for the quarter ended 31 March 2026 which are the balancing figures between the audit ed figures in respect of the full previous financial year and the published unaudited year to date figures up to the third quarter of the previous financial year, which were subjected to limited review, as required under the Listing Regulation s. d) The Statement includes comparative figures for the corresponding quarter ended June 30, 2025, which have been reviewed by S. Ramanand Aiyar & Co.,Jain Paras Bilala & Co., Sagar & Associates, and G.D . Apte & Co., where they have expressed an unmodified conclusion vide their report dated July 30, 2025 on such unaudited Consolidated Financial Results. Page 4 of 5
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Our conclusion on the Statement is not modified in respect of the abon· matters. For ASA & Associates LLP Chartered _\ccountants FRN: 009571N/NSU006 Partn M. No. 522045 UDIN:26522045NI-<TKSK t For Sagar & Associates Chartered Accountants FRN: 0035 lOS Partner M. No. 292123 UDIN: 26292123WGSITC4052 Place: New Delhi Date: August 05, 2026 For Jain Paras Bilala & Co. Chartered _--\ccountants FRN: 011046C ~ ON'----~,.). Paras;: Partner M. No . ..J.00917 UDIN: 26400917NQZVPC3516 For G.D. Apte & Co. Chartered Accountants FRN: 100515W Anagha M. Nanivadekar Partner M. No. 121007 UDIN: 26121007HADIEU2776 Page 5 of 5
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Power Grid Corporation of India Ltd. (A Govt. of India Enterprise) CIN : L40101DL1989GOI038121 B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110016 Extract of the Financial Results for the quarter ended 30 June 2026 Standalone S.No. Particulars Quarter ended 30.06.2026 30.06.202S (Unaudited) (Unaudited) 1 Total Income for the period 11,370.04 11,256.88 2 Profit before Tax and Regulatory Deferral Account Balances 4,246.32 4,172.27 3 Net Profit after Tax for the period 3,410.95 3,653.23 4 Total Comprehensive Income comprising Net Profit after Tax and Other Comprehensive Income 3,451.02 3,842.94 5 Paid up Equity Share Capital (Face value of share : '1;10/-each) 9,300.60 9,300.60 6 Reserves (excluding Revaluation Reserve) as shown in the Balance sheet 94,091.13 86,757.99 7 Securities Premium Account 5,509.28 5,509.28 8 Net worth 1,03,391. 73 96,058.59 9 Total Borrowings 1,45,586.45 1,30,645.77 10 Debt Equity Ratio 1.41 1.36 11 Earnings per equity share including movement in Regulatory Deferral Account Balances (Face value 3.67 3.93 of '1;10/-each): Basic and Diluted (in'!;) * 12 Earnings per equity share excluding movement in Regulatory Deferral Account Balances (Face value 3.78 3.70 of '1;10/-each): Basic and Diluted (in'!;) * 13 Bonds Redemption Reserve 2,573.82 3,032.86 14 Debt Service Coverage Ratio 1.36 1.04 15 Interest Service Coverage Ratio 3.52 4.00 (*) Figures for the quarters have not been annualized Notes: Year ended 31.03.2026 (Audited) 46,995.88 16,759.10 15,921.00 16,066.78 9,300.60 90,628.01 5,509.28 99,928.61 1,48,009.01 1.48 17.12 20.15 2,721.31 1.54 3.93 Consolidated Quarter ended 30.06.2026 30.06.2025 (Unaudited) (Unaudited) 11,696.72 11,444.42 4,587.32 4,285.75 3,598.42 3,630.58 3,527.21 3,821.34 9,300.60 9,300.60 94,727.70 87,181.37 5,509.28 5,509.28 1,04,028.30 96,481.97 1,45,586.45 1,30,645.77 1.40 1.35 3.87 3.90 3.98 3.67 2,573.82 3,032.86 1.46 1.06 4.32 4.64 1 The above is an extract of the Financial Results filed with the Stock Exchanges under Regulations 33 and 52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The Complete Financial Results are available on the Investors section of our website https://www.powergrid.in and under Corporates Section of BSE Limited & National Stock Exchange of India Limited at https://www.bseindia.com and https://www.nseindia.com respectively. These can also be accessed by scanning Quick Response Code: 2 Previous periods figures have been rearranged/reclassified wherever considered necessary. (" in Crore) Year ended 31.03.2026 (Audited) 47,684.43 17,321.03 15,927.95 16,193.78 9,300.60 91,193.43 5,509.28 1,00,494.03 1,48,009.01 1.47 17.13 20.11 2,721.31 1.61 4.57 - ... > . For and on behalf of POWER GRID CORPORATION OF INDIA LTD. Place : New Delhi Date: 05 August 2026 ~ <·~- .~ . 'lof -...~~r~ * H~' ~ l\ ci • :) ,· ':1 ~ <;?. .... ; .,, -- _.r , .... .~ .. ,.rr•'-I/ ~~ / 'cJ .A~· ;-. ~--- ~ ~ ~ Dr. Yatindra Dwivedi Director (Finance) DIN: 10301390
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क ेȾीय कायाŊलय: "सौदािमनी", ɘॉट नंबर 2, सेƃर -29, गुŜŤाम -122001, (हįरयाणा) द ू रभाष: 0124-2822999 & 2822000 Corporate Office: “Saudamini”, Plot No. 2, Sector-29, Gurugram-122001, (Haryana) Tel.: 0124-2822999 & 2822000 पंजीक ृ त कायाŊलय: बी -9, क ु तुब इंːीǨूशनल एįरया, कटवाįरया सराय, नई िदʟी -110 016. द ू रभाष: 011-26560112, 26560115 & 26560193, CIN: L40101DL1989GOI038121 Registered Office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110 016. Tel: 011-26560112, 26560115 & 26560193, CIN : L40101DL1989GOI038121 Website: www.powergrid.in POWERGRID/RMC-FIN/COMP/June-26/1 05 th August, 2026 To, General Manager - Listing Listing Department National Stock Exchange of India Ltd. Exchange Plaza, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra East, Mumbai-400051 General Manager Department of Corporate Services BSE Limited, Floor 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001 Reference: NSE-SCRIP ID: POWERGRID; BSE Scrip Code: 532898 Subject Information under Regulation 52(4), 52(7) and 54(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time for the quarter ended 30th June 2026. Dear Sir, In pursuance of Regulation 52(4), 52(7) and 54(2) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 as amended from time to time, we hereby provide the following information for the quarter ended 30th June 2026: Sl. Particular Details / Ratios 1. Debt Equity Ratio Refer Unaudited Results for the Quarter ended 30th June 2026. 2. Debt Service Coverage ratio (%) Refer Unaudited Results for the Quarter ended 30th June 2026. 3. Interest Service Coverage Ratio (%) Refer Unaudited Results for the Quarter ended 30th June 2026. 4. Outstanding redeemable preference shares (quantity and value) Not applicable 5. Capital Redemption reserve/ Debenture Redemption Reserve (Rs. in Crore) Refer Unaudited Results for the Quarter ended 30th June 2026. 6. Net Worth (Rs. in Crore) Refer Unaudited Results for the Quarter ended 30th June 2026. 7. Net Profit after tax (Rs. in Crore) Refer Unaudited Results for the Quarter ended 30th June 2026. 8. Earnings per Share (Rs.) Refer Unaudited Results for the Quarter ended 30th June 2026. 9. Current Ratio Refer Unaudited Results for the Quarter ended 30th June 2026. 10. Long term debt to working capital Refer Unaudited Results for the Quarter ended 30th June 2026. ,,dt~ Fcil ---- q ldi! S -==~ POWERGRID QRR f.tg ~ 3ffi:5 ~ ~ ('l'lffif'ffl1t>R<fj"f~) POWER GRID CORPORATION OF INDIA LIMITED (A Government of India Enterprise)
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क ेȾीय कायाŊलय: "सौदािमनी", ɘॉट नंबर 2, सेƃर -29, गुŜŤाम -122001, (हįरयाणा) द ू रभाष: 0124-2822999 & 2822000 Corporate Office: “Saudamini”, Plot No. 2, Sector-29, Gurugram-122001, (Haryana) Tel.: 0124-2822999 & 2822000 पंजीक ृ त कायाŊलय: बी -9, क ु तुब इंːीǨूशनल एįरया, कटवाįरया सराय, नई िदʟी -110 016. द ू रभाष: 011-26560112, 26560115 & 26560193, CIN: L40101DL1989GOI038121 Registered Office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110 016. Tel: 011-26560112, 26560115 & 26560193, CIN : L40101DL1989GOI038121 Website: www.powergrid.in Sl. Particular Details / Ratios 11. Bad debts to Account receivable ratio Refer Unaudited Results for the Quarter ended 30th June 2026. 12. Current liability ratio Refer Unaudited Results for the Quarter ended 30th June 2026. 13. Total debts to total assets Refer Unaudited Results for the Quarter ended 30th June 2026. 14. Debtors turnover Refer Unaudited Results for the Quarter ended 30th June 2026. 15. Inventory turnover Refer Unaudited Results for the Quarter ended 30th June 2026. 16. Operating margin Refer Unaudited Results for the Quarter ended 30th June 2026. 17. Net profit margin Refer Unaudited Results for the Quarter ended 30th June 2026. 18. Utilization of issue proceeds under Regulation 52(7) Utilisation certificate is attached. 19. Material deviations, if any, under Regulation 52(7A) Not applicable 20. Extent and Nature of Security Created and Maintained Bonds are secured by way of Registered Bond Trust Deed ranking pari-pasu on immovable property situated at Mauje Ambheti Taluka Kaparada in District Valsad Gujarat and Floating charges on the assets of the company with minimum security cover of 1.10 times. Thanking you, Yours faithfully Anjana Luthra Company Secretary & Compliance Officer ,,dt~ Fcil ---- q ldi! S -==~ POWERGRID QRR f.tg ~ 3ffi:5 ~ ~ ('l'lffif'ffl1t>R<fj"f~) POWER GRID CORPORATION OF INDIA LIMITED (A Government of India Enterprise)
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~ & ASSOCIATES LLP CHARTERED ACCOUNTANTS To, IDBI Trusteeship Services Limited Universal Insurance Building Ground Floor, Sir P.M. Road Fort, Mumbai- 400001 Aurobindo Tower 81/1 Third Floor Adchini, Aurobindo Marg New Delhi 110017 INDIA T +911141009999 Smartworks Golf View Towers 9th Floor, Tower-B Sector 42 Gurugram 122 009 INDIA T +91 124 6926 200 asaandassociates.co.1n Independent Statutory Auditor's Certificate on Statement with respect to maintenance of security cover (Asset Cover) in respect of listed non-convertible debt securities of Power Grid Corporation of India Limited as at June 30, 2026. 1. We, ASA & Associates LLP, Chartered Accountants (Firm's Registration Number 009571N/N500006), the Joint Statutory Auditors of Power Grid Corporation oflndia Limited ("Company'') having its registered office at B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110016, have been requested by the Company to certify the accompanying Statement with respect to maintenance of security cover (Asset Cover) in respect of listed non-convertible debt securities("Listed NCDs") of the Company as per Regulation 54 read with Regulation 56(1)(d) of Securities and Exchange Board of India (Listing Obligation & Disclosure Requirements) Regulation, 2015 ("Regulations") as amended from time to time in the format notified by SEBI Master Circular vide circular no. SEBI/HO /DDHS-PoD- 1 /P /CIR/2025/117 dated 13th August 2025 as amended from time to time for the purpose of submission with IDBI Trusteeship Services Limited. The Statement has been initialed by us for identification purpose only. 2. This Certificate is issued in accordance with the terms of our engagement letter dated January 22, 2026. Management's responsibility for the Statement 3. The preparation of the Statement is the responsibility of the Management of the Company .including the preparation and maintenance of all accounting and other relevant supporting records and documents. This responsibility includes the design, implementation and maintenance of internal control relevant to the preparation and calculation of security cover (Asset Cover) with respect to listed non-convertible debt securities of the Company as on June 30, 2026 in the format notified by SEBI vide circular no. SEBI Master Circular vide circular no. SEBI/HO/DDHS-PoD-1/P/CIR/2025/117 dated 13th August 2025 as amended from time to time. 4. The Management is also responsible for ensuring that the Company complies with the requirements of the regulations and complies with the financial covenants with respect to listed NCDs. Auditor's Responsibility 5. Pursuant to the requirements of the regulation, it is our responsibility to provide a reasonable assurance whether the Company has maintained the Security cover (Asset cover) as at June 30, 2026, and complied with the financial covenants in respect to listed NCDs as at that date. have been appointed as the Joint Statutory Auditors of the Company for conducting limited ·ews of unaudited standalone financial statement for the quarter ended June 30, 2026. Registered with Limited Liability • LLPIN: AAB-7688
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7. The standalone financial statements for the year ended March 31, 2026 have been audited by us and other joint auditors of the Company, on which the joint auditors have issued an unmodified opinion vide their report dated May 15, 2026. 8. The unaudited standalone financial results for the quarter ended June 30, 2026 referred to in paragraph 6 above, have been reviewed by us and other joint auditors of the Company, on which the joint auditors have issued an unmodified conclusion vide their report dated August 05, 2026. 9. The following documents have been furnished by the company: (a) Working of maintenance of security cover (Asset Cover) in respect of listed non convertible debt securities of Power Grid Corporation of India Limited. (b) Unaudited standalone financial statements of the company for the quarter ended June 30, 2026. (c) Written representation from management in this regard. 10. We have performed the following procedures: a. Obtained the statement from management and understood the methodology adopted by the management for computation of the Security Cover (Asset Cover) Ratio and assessed its consistency with the applicable requirements. b. Obtained understanding of the applicable regulatory requirements and/ or provisions of the Debenture Trust Deed governing maintenance of Security Cover Ratio. c. Obtained Unaudited financial statements for the quarter ended June 30, 2026; d. Obtained the Security Cover Ratio computation prepared by the management as at June 30, 2026. e. Checked arithmetical accuracy of the computation of the Security Cover Ratio. f. Traced the amounts of assets and liabilities considered in the computation to the underlying books of account, trial balance, and/ or financial information provided to us. g. Performed inquiries with management regarding "classification of assets and liabilities", "exclusion of ineligible assets". h. Reviewed relevant supporting documents made available to us, such as schedules of secured borrowings, asset registers, and statements furnished to debenture trustees. 1. Obtained and read the valuation report dated March 24, 2025 of land against which security has been created, issued by an independent registered valuer, and considered the value as stated therein for the purpose of the Security Cover Ratio computation. J· In respect of compliance with the covenants and terms of issue of the listed non- convertible debentures, our limited procedures were restricted to reading the relevant rovisions of the offer document and debenture trust deed, making inquiries with the nagement, reviewing a management-prepared statement of compliance, examining vant information and documents on a test basis, and obtaining management resentations.
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11. \-Xle conducted our examination of the Statement in accordance with the Guidance Note on Reports or Certificates for Special Purposes (Revised 2016) issued by the Institute of Chartered Accountants of India. 'Ibe Guidance Note requires that we comply with the ethical requirements of the Code of Ethics issued by the Institute of Chartered Accountants of India. 12. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements. Opinion Based on our examination, as above and the information and explanations provided to us, we are of opinion that Company has complied, in all material respects, with the covenants and terms of issue of the listed non-convertible debentures and computation of Security coverage ratio as mentioned in the Statement as at June 30, 2026. Restriction on Use This certificate is issued at the request of the Company solely for the purpose of submission to IDBI Trusteeship Services Limited with respect to security cover (Asset Cover) maintained by the Power Grid Corporation of India Limited with respect to listed non-convertible debt securities of the Company as at June 30, 2026 and should not be used by any other person or for any other purpose. We shall not be liable to the Company or to any other concerned for any claims, liabilities or expenses relating to this assignment. Accordingly, we do not accept or assume any liability or duty of care for any other purpose or to any other person to whom this certificate is shown or into whose hands it may come without our prior consent in writing. For ASA & Associates LLP Chartered Accountants Firm Registration No.: 009571N/N500006 Rahisudd~ Partner Membership No. 522045 UDIN: 26522045ALNRWB8969 Place: New Delhi Date: August 05, 2026
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Column A CotumnB ColumnC Column ColnmnH Column F ColumnG D Description of Exclusive Cb2rgc Exclusiv P:1ri•P2.!18U Pari-Passu Charge Pari•l'assu Charge Paniculars asset fo, which e Charge Charge this certificate relate Assr.ta 1h2red by Other aaacts on pari pa.1111u debt which there lli pari- bolder Pusu ,charge (includes debt for (cxcludillg item, Debtfoi which this covered in column Debt ror which Other which this certificate is issued F) thl& certificate Secured cenific,nc & other debt being issued Debt beingfuucd [Foreign Currency Loan Gur2.ntccd by GOIJ w;lh pan- passu charge) Book Book Yes/ Book Book Value Value No Value Value ASSETS y" Property, Plant and Bquipment 1. Land & liuilding 0.69 n.oo :?. Property, Plant 55,281.88 89~89.87 and Bquipmcnt Capirlll Work•in-Progtcss 6,180.53 Ri£ht of Use Assets Good\\il1 Int11J1¢blc As..~c~ 1,378.19 Intancible :\.,;sets under Deni · 1t1ment 6.24 In\'U-tmcnt Ptope rt) Im·estmcnti: Lo.n, 63,715.79 Inventories Tade Receiv11blcs Ca..<h 1U1d C1~h E uuivalcnti: Bank Balances other than Ca~h t.nd Caih Equiv:1\cnts Others 11,554.01 Total 55,282.57 1,72,124,63 LIABILITIES Debt ~ccurirics. to which this certi6nte Sccuted Bonds 29,704.41 pcrtaim Other debt sh11.ring pari-pa.~ni charge with 20,551.84 8,902.41 above debt * Other Debt Un secure t, Subordinated debt Borrowin1. .. ShoctTcan not to be 6Jled Bank Debt Securities Unsecured Othen: GOIBond Trade ravables Lease Liabilities Pto\'i~ions Othcn. T01o.I 50,256.25 8,902.41 Cover on Book Value 1.10 Cover on Market V:.luc Ex:clusivc Pari.Pasu 1.10 Security Cover Security Cover RatitJ Ratio ColumnH CotumnHl Colomnl ColumnJ Asset! not offered 21 Elimination (Total C to H) Security (a.mount in. Debt not negative) badudby Debt any:1.SselJI ~ount offered as comidcred security morcth:m (Clause 1.9 of once (due to SEBIDT exclusive master plus pari Circular dated passu August!~ chflrgc) 2025) 6,254.61 6,255.30 1,44,571.74 6,180.53 442,76 442.76 1,378.19 6.24 1.87 1.87 11,5.11.68 t7,53US8 63,715.79 1,573.51 1,573.51 9,041.82 9,041.82 491.50 491.50 2 .. ¾8.11 2,368.11 15,596.72 27,150.73 53,302.58 2,so,10<J.n 29,704.41 29,454.25 42,485.64 42,485.64 1,600.00 1,600.00 45,849.02 45,849.02 3,595.:16 :\,595.36 786.72 786.72 38.66 38.66 832.22 832.22 22,971.76 22,971.76 681715.00 49,444.38 1,77,318.04 Column IC ColumnL ColumnM ColurnnN Annexure-J ~Q_unt j_Jl:; in YQ_re ColumnO Rela.tcd to only those items covered by this certificate Market Curying /book Market Carrying value/book Value Cot value for exclusive Value for value for pan passu Assets charge asset! V,'hcrc Pari charge as1ctR where charged on market value is not p:usu market value iB not Exclusive asccrt2in2ble or charge ascertainable or basis 11.ppticablc (For Eg. Asseu lllpplic11ble Total Value BankBal.anct, (For Eg. Bank (~K+L+M+N) DSRA market value Balance:, OSRA ii not applicable market v2luc: is noc applicable) Relating to Column F 32.95 32.95 55,281.88 55,281.88 32.95 55,281.88 55,314.83 29,71)4.41 29,704.41 20,551.84 2U,551.84 S0,256.25 50,256.25 1.10 ( ) '- * ~
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क ेȾीय कायाŊलय: "सौदािमनी", ɘॉट नंबर 2, सेƃर -29, गुŜŤाम -122001, (हįरयाणा) द ू रभाष: 0124-2822999 & 2822000 Corporate Office: “Saudamini”, Plot No. 2, Sector-29, Gurugram-122001, (Haryana) Tel.: 0124-2822999 & 2822000 पंजीक ृ त कायाŊलय: बी -9, क ु तुब इंːीǨूशनल एįरया, कटवाįरया सराय, नई िदʟी -110 016. द ू रभाष: 011-26560112, 26560115 & 26560193, CIN: L40101DL1989GOI038121 Registered Office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110 016. Tel: 011-26560112, 26560115 & 26560193, CIN : L40101DL1989GOI038121 Website: www.powergrid.in POWERGRID/RMC-FIN/COMP/June-26 05 th August, 2026 To, General Manager Listing Department National Stock Exchange of India Ltd. Exchange Plaza, Plot No. C/1, G Block, Bandra Kurla Complex, Bandra East, Mumbai-400051 General Manager Department of Corporate Services BSE Limited, Floor 25, Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai-400001 Subject: Compliance under regulation 52 (7) & 52(7A) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015 (as amended) for the quarter ended 30th June 2026. Dear Sir, Pursuant to Regulation 52 (7) and Regulation 52(7A) of SEBI (Listing Obligation & Disclosure Requirements) Regulations, 2015 read with SEBI circular SEBI/HO/DDHS/DDHS-PoD-1/P/CIR/2025/0000000103 dated July 11, 2025, please find enclosed herewith statement indicating utilization of issue proceeds and no deviation or variation in the use of proceeds of issue of listed non-convertible unsecured debentures for the quarter ended 30th June 2026 in the prescribed format as Annexure-1. Kindly take the above information on record. Thanking you, For and on behalf of Power Grid Corporation of India Limited Anjana Luthra Company Secretary and Compliance Officer Encl: Statement of Utilization of Issue Proceeds & Statement of Deviation or Variation ,,dt~ Fcil ---- q ldi! S -==~ POWERGRID QRR f.tg ~ 3ffi:5 ~ ~ ('l'lffif'ffl1t>R<fj"f~) POWER GRID CORPORATION OF INDIA LIMITED (A Government of India Enterprise)
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क ेȾीय कायाŊलय: "सौदािमनी", ɘॉट नंबर 2, सेƃर -29, गुŜŤाम -122001, (हįरयाणा) द ू रभाष: 0124-2822999 & 2822000 Corporate Office: “Saudamini”, Plot No. 2, Sector-29, Gurugram-122001, (Haryana) Tel.: 0124-2822999 & 2822000 पंजीक ृ त कायाŊलय: बी -9, क ु तुब इंːीǨूशनल एįरया, कटवाįरया सराय, नई िदʟी -110 016. द ू रभाष: 011-26560112, 26560115 & 26560193, CIN: L40101DL1989GOI038121 Registered Office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110 016. Tel: 011-26560112, 26560115 & 26560193, CIN : L40101DL1989GOI038121 Website: www.powergrid.in Annexure – 1 A. Statement of utilization of issue proceeds: Name of the Issuer ISIN Mode of Fund Raising (Public issues/ Private placement) Type of instrument Date of raising funds Amount Raised (In Crores) Funds Utilized (In Crores) Any deviati on (Yes/ No) If 8 is Yes, then specify the purpose of for which the funds were utilized Rem arks, if any 1 2 3 4 5 6 7 8 9 10 Power Grid Corporation of India Limited INE752E08809 Private Placement Non- convertible Securities 12-12-2025 3704.00 3704.00 No - - B. Statement of deviation/ variation in use of Issue proceeds: Particulars Remarks Name of listed entity Power Grid Corporation of India Limited Mode of Fund Raising Private Placement Type of instrument Non-Convertible Debentures Date of Raising Funds As per Statement A of Annexure – 1 Amount Raised As per Statement A of Annexure – 1 Report filed for Quarter ended June 30, 2026 (Quarter-1, FY 2026-27) Is there a Deviation / Variation in use of funds raised? No Whether any approval is required to vary the objects of the issue stated in the prospectus/ offer document? Not applicable If yes, details of the approval so required? Not applicable Date of approval Not applicable Explanation for the Deviation / Variation Not applicable Comments of the audit committee after review/ board of directors (in case there is no audit committee) Not applicable Comments of the auditors, if any Not applicable Objects for which funds have been raised and where there has been a deviation, in the following table: Not applicable ,,dt~ Fcil ---- q ldi! S -==~ POWERGRID QRR f.tg ~ 3ffi:5 ~ ~ ('l'lffif'ffl1t>R<fj"f~) POWER GRID CORPORATION OF INDIA LIMITED (A Government of India Enterprise)
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क ेȾीय कायाŊलय: "सौदािमनी", ɘॉट नंबर 2, सेƃर -29, गुŜŤाम -122001, (हįरयाणा) द ू रभाष: 0124-2822999 & 2822000 Corporate Office: “Saudamini”, Plot No. 2, Sector-29, Gurugram-122001, (Haryana) Tel.: 0124-2822999 & 2822000 पंजीक ृ त कायाŊलय: बी -9, क ु तुब इंːीǨूशनल एįरया, कटवाįरया सराय, नई िदʟी -110 016. द ू रभाष: 011-26560112, 26560115 & 26560193, CIN: L40101DL1989GOI038121 Registered Office: B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110 016. Tel: 011-26560112, 26560115 & 26560193, CIN : L40101DL1989GOI038121 Website: www.powergrid.in Original Object Modified Object, if any Original Allocation Modified allocation, if any Funds Utilised Amount of Deviation/Variation for the half year according to applicable object (INR Crores and in %) Remarks, if any - - - - - - - Deviation could mean: a. Deviation in the objects or purposes for which the funds have been raised. b. Deviation in the amount of funds actually utilized as against what was originally disclosed. For Power Grid Corporation of India Limited Name of signatory: Anjana Luthra Designation: Company Secretary & Compliance Officer Date: 05th August, 2026 ,,dt~ Fcil ---- q ldi! S -==~ POWERGRID QRR f.tg ~ 3ffi:5 ~ ~ ('l'lffif'ffl1t>R<fj"f~) POWER GRID CORPORATION OF INDIA LIMITED (A Government of India Enterprise)
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~ & ASSOCIATES LLP CHARTERED ACCOUNTANTS To, IDBI Trusteeship Services Limited Universal Insurance Building Ground Floor, Sir P.M. Road Fort, Mumbai- 400001 Aurobindo Tower 81 /1 Third Floor Adchini, Aurobindo Marg New Delhi 110 017 INDIA T +91 1141009999 Smartworks Golf View Towers 9th Floor, Tower-B Sector 42 Gurugram 122 009 INDIA T +91 124 6926 200 asaandassooates.co.in Independent Statutory Auditor's Certificate with respect to funds raised from issuance of bonds and their utilization by Power Grid Corporation of India Limited, "(the company)" for the quarter ended June 30, 2026. 1. We, ASA & Associates LLP, Chartered Accountants (Firm's Registration Number 009571N/N500006), the Joint Statutory Auditors of Power Grid Corporation oflndia Limited ("the Company") having its registered office at B-9, Qutab Institutional Area, Katwaria Sarai, New Delhi-110016, have been requested by the Company to certify the accompanying Statement of funds raised from issuance of bonds (Non-Convertible Securities) and their utilization by the Company ('the Statement') as per Regulation 52(7) & 52(7 A) read with Regulation 56(1) (a) of Securities and Exchange Board oflndia (Listing Obligation & Disclosure Requirements) Regulation, 2015 ("Regulations") for the purpose of submission with IDBI Trusteeship Services Limited. The statement has been initialed by us for identification purpose only. 2. This Certificate is issued in accordance with the terms of our engagement letter dated January 22, 2026. Management's responsibility for the Statement 3. The preparation of the Statement is the responsibility of the Management of the Company including the preparation and maintenance of all accounting and other relevant supporting records and documents. This responsibility includes the design, implementation and maintenance of internal control relevant to raising funds from issuance of bonds and their utilization by the Company for the quarter ended June 30, 2026. Auditor's Responsibility 4. Pursuant to the requirements of the regulation, it is our responsibility is to provide a reasonable assurance with respect to funds raised through issuance of bonds and their utilization during the quarter ended June 30, 2026. 5. We have been appointed as the Joint Statutory Auditors of the Company for conducting limited reviews of unaudited standalone financial statement for the quarter ended June 30, 2026. 6. The standalone financial statements for the year ended March 31, 2026 have been audited by us and other joint auditors of the Company, on which the joint auditors have issued an 'fied opinion vide their report dated May 15, 2026. Registered with Limited Liability • LLPIN: AAB-7688
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7. The unaudited standalone financial results for the quarter ended June 30, 2026 referred to in paragraph 5 above, have been reviewed by us and other joint auditors of the Company, on which the joint auditors have issued an unmodified conclusion vide their report dated August 05, 2026. 8. The following documents have been furnished by the company: (a) Statement of funds raised from issuance of bonds and their utilization by the company. (b) Unaudited standalone financial statements of the company for the quarter ended June 30, 2026. ( c) Written representation from management in this regard. 9. We have performed the following procedures: a. Obtained the offer document / information memorandum and Debenture Trust Deed to understand the stated purpose of funds raised through the bond / NCD issuance. b. Obtaining Annexure/ statement prepared by the management detailing the receipt of proceeds from the bond / NCD issuance and their utilisation during the period. c. Understanding the methodology adopted by the management for tracking and reporting utilisation of funds and assessing its consistency with the stated objectives. d. Verified the proceeds of issuance of bonds with books and also traced from bank statement obtained from the management . e. Checking the arithmetical accuracy of the fund utilisation statement and tracing the utilised amounts to the underlying books of account, bank statements and other relevant records. f. Performing inquiries with management regarding the utilisation of funds, including any partial utilisation, unutilised funds, or diversion, and any deviations from the stated purpose. 10.We conducted our examination of the Statement in accordance with the Guidance Note on Reports or Certificates for Special Purposes (Revised 2016) issued by the Institute of Chartered Accountants of India. The Guidance Note requires that we comply with the ethical requirements of the Code of Ethics issued by the Institute of Chartered Accountants of India. 11. We have complied with the relevant applicable requirements of the Standard on Quality Control (SQC) 1, Quality Control for Firms that Perform Audits and Reviews of Historical Financial Information, and Other Assurance and Related Services Engagements. Opinion Based on our examination, as above, and the information and explanations provided to us, we are of the opinion that no funds has been raised by the Company through the issuance of bonds (Non ie Debentures) during the quarter ended June 30, 2026, and the remaining proceeds from
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the issuance of bonds dming the yuarter ended December 31, 2025 ha,·e been utilized is in accordance ,vith the purpose/ object mentioned therein as mentioned in the Statement. Restriction on Use This certificate is issued at the request of the Company solely for the purpose of submission to IDBI Trusteeship Services Limited with respect to bonds issued and their utilization by the company with respect to listed non-convertible debt securities of the Company for quarter ended June 30, 2026, and should not be used by any other person or for any other purpose. We shall not be liable to the Company or to any other concerned for any claims, liabilities or expenses relating to this assignment. Accordingly, we do not accept or assume any liability or duty of care for any other purpose or to any other person to whom this certificate is shown or into whose hands it may come without our prior consent in writing. For ASA & Associates LLP Chartered Accountants Firm Registration No.: 009571N/N500006 Rahisuddin ifi Partner Membership No. 522045 UDIN: 26522045QTQHFP2319 Place: New Delhi Date: August 05, 2026
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Statement of funds raised from issuance of bonds and their utilization by Power Grid Corporation of India Limited ("the Company") for the quarter ended June 30, 2026 Name of the ISIN Mode of Type of Date of Amount Funds Any If 8 is Yes, Rem Issuer Fund instrument raising Raised Utilized deviati then arks, Raising funds (In (In on specify the if (Public Crores) Crores) (Xes/ purpose of any issues/ No) for which Private the funds placement) were utilized 1 2 3 4 5 6 7 8 9 10 Power Grid Private Non- Corporation of INE752E08809 Placement convertible 12-12-2025 3704.00 3704.00 No - - India Limited Securities B. Statement of deviation/ variation in use of Issue proceeds: Particulars Remarks Name of listed entity Power Grid Corporation of India Limited Mode of Fund Raising Private Placement Type of instrument Non-Convertible Debentures Date of Raising Funds As per Part A of Statement Amount Raised As per Part A of Statement Report filed for quarter ended June 30, 2026 (Quarter-1, FY 2026-27) Is there a Deviation / Variation in use of funds raised? No Whether any approval is required to vary the objects of the issue stated in Not applicable the prospectus/ offer document? If yes, details of the approval so required? Not applicable Date of approval Not applicable Explanation for the Deviation/ Variation Not applicable Comments of the audit committee after review/ board of directors (in case Not applicable there is no audit committeeJ Comments of the auditors, if any Not applicable Objects for which funds have been raised and where there has been a Not applicable deviation, in the following table: Original Object Modified Original Modified Funds Amount of Remarks, Object, if any Allocation allocation, Utilised Deviation/Variation if any if any for the half year according to applicable object (INR Crores and in % - - - - - - - Deviation could mean: a. Deviation in the oijects or purposes for which the funds have been raised. b. Deviation in the amount o/junds actually utili:;ed as a_~ainst what was ori~inall) disclosed.