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POWERGRID.NS
ACCE-researched

Power Grid Corporation of India Limited (POWERGRID.NS) fair value

Utilities · Utilities - Regulated Electric · NSE · India
₹247.40-0.40%
Market cap ₹2.30TNext earnings 2026-08-05Updated Oct 23, 2026
Our verdict
Trades 23% above our fair value
Price
₹247.40
Model fair valueConfidence: good
₹201
Model range
₹89.05 to ₹332
Fair value ₹201
Price ₹247
2 models fit Power Grid Corporation of India Limited and they disagree: 0 of 2 land within 15% of the average.
Two or more of our models back this value.
Premium(i)
Valued as a utility: Dividend discount and P/E comparison.
ACCE opinionPower Grid Corporation of India Limited (POWERGRID.NS)
Fair value (2 models)
₹201
ACCE price target
₹272
Rating
Overvalued
Horizon
12 months
Fair value published on 23 Oct 2026, 10:03 CEST.
ACCE price target published on 22 Oct 2026, 16:00 CEST.
Rating published on 23 Oct 2026, 10:03 CEST.
Price used: ₹247 at the close on 23 Oct 2026, 12:00 CEST.
Models: P/E comparison and Dividend discount.
Fair value: the average of the applicable valuation models (discounted cash flow, multiples, residual income, dividend discount, shareholder yield), each run on the latest financial statements and the market price shown. Opinion columns (fair value, target, rating) are shown apart from the data. Full methodology: acceinvestments.com/data/how-we-value-stocks
Full methodology
Conflicts of interest: The author holds no personal position in this security. General statement
Produced by ACCE Investments (acceinvestments.com)
Data
Price vs fair value
23.0% above
-18.7% to fair value
ACCE score
51
out of 100
P/E
14.5x
forward 12.8x
1-year return
-14.6%
Dividend yield
3.62%

Power Grid Corporation of India Limited in four questions

Plain answers, details below
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OverviewAsk ACCEValuationQualityAnalystsSmart MoneyCompareNews and Record

Overview

ACCE thesis

Power Grid Corporation of India owns and operates the bulk of India's inter-state transmission network, moving power from generators to distribution utilities under long-term, regulated tariff arrangements. Its moat is structural: the transmission assets are largely irreplaceable, and the regulator sets returns on invested capital, which is why the company reports a 55.7% operating margin and a 97.6% gross margin. Revenue growth is slow at 2.7%, so the investment case rests on capital expenditure converting into the regulated asset base, not on volume or pricing surprises. At a trailing P/E of 14.5 and a forward P/E of 12.8, the market is pricing in modest earnings growth for a business with a 2.31 trillion INR market cap and no ROE figure in the data we have, which makes it worth a closer look on the regulatory and capex pipeline.

AI-assisted·How I use AIWritten Oct 23, 2026
⚠ Investor warnings · 2 flagsAI-assisted·How I use AI
  • moderate
    Earnings and revenue slowing
    Revenue grew only 2.7% year on year and earnings fell 0.8%, with a 5-year revenue CAGR of 1.0%. Q2 2026 EPS missed by 2.9%.
  • moderate
    Leverage elevated for a utility
    Debt to equity of 1.51 is high, and free cash flow is not disclosed, so the company's ability to service debt from operations cannot be checked here.

AI research notes

AI-assisted·How I use AIWritten Oct 22, 2026 · figures from 2026-10-22 · prices to Oct 23, 2026
Why it could do well
  • Net margin of 33.8% means the company keeps a large share of every rupee of revenue as profit.
  • The dividend yield of 3.6% gives income investors a meaningful cash return while they wait for the share price to move.
  • Shares trade at 12.8x forward earnings, a lower multiple than the 14.5x trailing figure, and sit 9.0% below the ACCE price target of ₹272.00.
Why it could disappoint
  • Revenue grew just 2.7% over the last year and averaged only 1.0% a year across five years, a slow pace for growth.
  • Debt to equity of 1.51 means the company carries heavy borrowings relative to its shareholder funds, which raises financial risk.
  • Earnings per share missed expectations, coming in at 3.98 against 4.10 forecast, a 2.9% shortfall.
Each chip shows the exact figure and where it comes from. A claim without a source is not published.

Walk me through this stock

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Valuation

INVESTOR
Where POWERGRID.NS's valuation models land
Price
₹247.40
Model fair value
₹201
Model range
₹89.05 to ₹332
Fair value ₹201
Price ₹247
The price sits inside the model range.
Model
Fair value
Upside
Dividend discount
P/E comparison
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Quality

INVESTOR
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  • +Conviction breakdown and growth / value / quality / momentum scores
  • +Score history: how each score moved over time

Analysts

Wall Street consensus

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The full analyst picture: the price-target distribution against the current price, forward consensus estimates, and how ACCE's own models compare.

  • +Price-target low / average / high vs the current price, with implied upside
  • +Forward revenue and EPS consensus by fiscal year
  • +ACCE fair-value models lined up against the Street

Smart Money

PRO

In one line

Trades are only made public after a delay. We show the delay so you know how old the news is.

Company insiders
No trades filed
Last 90 days
Congress
No trades filed
Last 180 days
Average delay
No trades filed
From trade to public filing
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Where it sits vs peers

News and Record

Recent performance

1 week
-1.2%
1 month
-8.4%
3 months
-14.2%
6 months
-21.8%
YTD
-7.3%
1 year
-14.6%

Recommendation history, last 12 months

DateTypeNewPreviousPrice
23 Oct 2026, 10:03 CESTRatingOvervaluedfirst publication₹248
23 Oct 2026, 10:03 CESTFair value₹201first publication₹248
22 Oct 2026, 16:00 CESTACCE price target₹272first publication₹248

This analysis is not personalised investment advice and does not take your situation, objectives or risk tolerance into account. ACCE Investments is not an authorised investment firm.

Investing in shares carries a risk of losing capital. The value of an investment can go down as well as up.

This security trades in INR. Exchange-rate movements can increase or reduce the result in your own currency.

Valuation horizon: 12 months from the publication date.

Conflicts of interest. ACCE Investments is operated by Adrien Chantreuil, who may hold personal positions in the securities analysed. Positions are declared on each security. ACCE receives no payment from the companies analysed or from any intermediary for this analysis.

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Snapshot

Growth19Value80Quality81Momentum25Total51
Valuation
Trailing P/E
14.5x
Forward P/E
12.8x
PEG
no data
P/B
no data
EV / Revenue
no data
Book value/sh
no data
Enterprise value
no data
Profitability
ROE
no data
FCF yield
no data
ROIC
no data
Health and risk
Debt / equity
1.51
Dividend yield
3.62%
Beta
no data

Price

-14.2% · 1Y

Ask anything about POWERGRID.NS

Answered from Power Grid Corporation of India Limited fundamentals + recent valuations. Every number shows its source and date.

This stock Peer Peer median weaker → stronger
P/Ebetter than 83% of peers
low 5.9x14.5xhigh 24.7x
Div yieldbetter than 50% of peers
low 2.3%3.6%high 6.1%

Peers

Prices Oct 23, 2026
CompanyPriceFair valuevs fair valueP/EROEQualityScore
POWERGRID.NS Power Grid Corporation of India Limited₹247.40₹20123% above14.5x-8151
H.TO Hydro OneC$54.38C$3362% above23.1x11.2%6054
ES Eversource Energy (D/B/A) Common Stock$67.84$671% above16.9x9.0%5748
PPL PPL Corporation Common Stock$35.35$2825% above20.7x8.6%6555
EIX Edison International Common Stock$57.90$9439% below5.9x19.7%7858
FE FirstEnergy Corp. Common Stock$46.49$3437% above24.7x9.5%6153
CNP CenterPoint Energy Inc (Holding Co) Common Stock$41.20--24.3x9.8%5755

Sector report card

Where POWERGRID.NS ranks against its sector peers on each metric.

Computing percentiles…