Power Grid of India (POWERGRID) — Announcement

1 Announcement 🔴 High Importance ✨ Positive 📄 PDF

POWERGRID acquired Bellary Davanagere Power Transmission Limited (BDPTL) on 12.02.2026 as the successful bidder under tariff-based competitive bidding for ₹13.02 crores. The project involves a 400 kV transmission line in Karnataka to integrate 3 GW renewable energy capacity (0.25 GW Davanagere, 2.75 GW Bellary) on a build-own-operate-transfer basis. POWERGRID acquired 100% stake in the pre-operational SPV. Regulatory approvals from the Central Electricity Regulatory Commission remain pending.

2 Announcement Neutral 📄 PDF

Fitch Ratings downgraded POWERGRID's stand-alone credit profile to bbb from bbb+ on February 12, 2026, citing analytical recalibration under revised Corporate Rating Criteria. The company emphasized this reflects methodology changes, not deteriorating fundamentals, financial performance, or liquidity. Long-term foreign and local currency issuer default ratings remain at BBB- with Stable Outlook, aligned with India's sovereign rating.

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About Power Grid Corporation of India Limited (POWERGRID)

Power · Power · Listed on NSE

Market Cap: ₹2,84,458.97 Cr P/E: 18.3 ROE: 16.8% ROCE: 12.2%

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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