Power Grid Corporation's prospects factored in at current valuations

For FY25, the planned capex is at Rs 15,000 crore, up from earlier guidance of Rs 12,500 crore, alongside capitalisation of Rs 17,000 crore for FY25

Power Grid Corporation (PGCIL) intends to ramp up its capex substantially through the next two financial years. The Public Sector Undertaking (PSU) utility posted flat consolidated revenues of Rs 10,700 crore in the third quarter of the current financial year (Q3FY24) and reported 7 per cent year on year (Y-o-Y) growth in net profit to Rs 4,000 crore. The Q3FY24 capex stood at Rs 3,440 crore and capitalisation at Rs 1,780 crore, taking the 9MFY24 total to Rs 8,700 crore capex and Rs 5,800 crore capitalisation, respectively.

Management maintained FY24 target capex at Rs 10,000 crore and capitalisation at Rs