Key Financial Figures - Standalone (₹ in Crore)

Income Statement:

  • Revenue From Operations: ₹9,795.40 (Q1 FY27) vs ₹9,928.23 (Q1 FY26)
  • Other Income: ₹1,574.64 (Q1 FY27) vs ₹1,328.65 (Q1 FY26)
  • Total Income: ₹11,370.04 (Q1 FY27) vs ₹11,256.88 (Q1 FY26)
  • Employee benefits expense: ₹666.14 (Q1 FY27) vs ₹633.91 (Q1 FY26)
  • Finance costs: ₹2,514.78 (Q1 FY27) vs ₹2,304.45 (Q1 FY26)
  • Depreciation and amortisation: ₹2,924.96 (Q1 FY27) vs ₹2,969.75 (Q1 FY26)
  • Other expenses: ₹1,017.84 (Q1 FY27) vs ₹1,176.50 (Q1 FY26)
  • Profit before Tax and Regulatory Deferral Account Balances: ₹4,246.32 (Q1 FY27) vs ₹4,172.27 (Q1 FY26)
  • Tax expense: ₹729.00 (Q1 FY27) vs ₹733.32 (Q1 FY26)
  • Profit for the period before Regulatory Deferral Account Balances: ₹3,517.32 (Q1 FY27) vs ₹3,438.95 (Q1 FY26)
  • Net movement in Regulatory Deferral Account Balances: (₹106.37) (Q1 FY27) vs ₹214.28 (Q1 FY26)
  • Profit for the period: ₹3,410.95 (Q1 FY27) vs ₹3,653.23 (Q1 FY26)
  • Total Comprehensive Income: ₹3,451.02 (Q1 FY27) vs ₹3,842.94 (Q1 FY26)

Key Metrics:

  • Paid up Equity Share Capital: ₹9,300.60 crore (unchanged)
  • Earnings per share (including regulatory deferral): ₹3.67 (Q1 FY27) vs ₹3.93 (Q1 FY26)
  • Earnings per share (excluding regulatory deferral): ₹3.78 (Q1 FY27) vs ₹3.70 (Q1 FY26)
  • Reserves (excluding Revaluation Reserve): ₹94,091.13 (Q1 FY27) vs ₹86,757.99 (Q1 FY26)
  • Net Worth: ₹1,03,391.73 (Q1 FY27) vs ₹96,058.59 (Q1 FY26)
  • Total Borrowings: ₹1,45,586.45 (Q1 FY27) vs ₹1,30,645.77 (Q1 FY26)
  • Debt Equity Ratio: 1.41 (Q1 FY27) vs 1.36 (Q1 FY26)
  • Debt Service Coverage Ratio: 1.36 (Q1 FY27) vs 1.04 (Q1 FY26)
  • Interest Service Coverage Ratio: 3.52 (Q1 FY27) vs 4.00 (Q1 FY26)
  • Current Ratio: 0.60 (Q1 FY27) vs 0.92 (Q1 FY26)
  • Operating Margin: 97% (Q1 FY27) vs 97% (Q1 FY26)
  • Net Profit Margin: 35% (Q1 FY27) vs 37% (Q1 FY26)

Key Financial Figures - Consolidated (₹ in Crore)

Income Statement:

  • Revenue From Operations: ₹11,496.72 (Q1 FY27) vs ₹11,196.22 (Q1 FY26)
  • Other Income: ₹200.00 (Q1 FY27) vs ₹248.20 (Q1 FY26)
  • Total Income: ₹11,696.72 (Q1 FY27) vs ₹11,444.42 (Q1 FY26)
  • Profit for the period: ₹3,598.42 (Q1 FY27) vs ₹3,630.58 (Q1 FY26)
  • Total Comprehensive Income: ₹3,527.21 (Q1 FY27) vs ₹3,821.34 (Q1 FY26)
  • Earnings per share (including regulatory deferral): ₹3.87 (Q1 FY27) vs ₹3.90 (Q1 FY26)
  • Earnings per share (excluding regulatory deferral): ₹3.98 (Q1 FY27) vs ₹3.67 (Q1 FY26)

Key Metrics:

  • Net Worth: ₹1,04,028.30 (Q1 FY27) vs ₹96,481.97 (Q1 FY26)
  • Total Borrowings: ₹1,45,586.45 (Q1 FY27) vs ₹1,30,645.77 (Q1 FY26)
  • Debt Equity Ratio: 1.40 (Q1 FY27) vs 1.35 (Q1 FY26)

Transmission Income Details

  • Recognized transmission income of ₹9,516.08 crore for Q1 FY27:
  • ₹9,019.03 crore as per tariff orders issued by CERC
  • ₹497.05 crore provisionally as per CERC Tariff Regulations for assets awaiting tariff orders
  • Includes ₹21.56 crore (decrease) pertaining to earlier years due to final CERC order

Corporate Actions and Strategic Updates

  • Merger/Amalgamation: Board approved schemes for merger of multiple wholly-owned subsidiaries on 19 March 2026 under sections 230-233 of Companies Act, 2013
  • Divestment Approvals:
  • In-principle approval for sale of entire stake in JVs (Torrent Power Grid Limited, Sikkim Power Transmission Limited, Parbati Koldam Transmission Company Limited)
  • In-principle approval for divestment of entire equity stake in CTUIL to Grid Controller of India Limited (GRID-INDIA) on 09 March 2026
  • Investments in these entities classified as "Assets held for sale" under Ind AS 105

Regulatory Deferral Account Details

Net movement of (₹106.37) crore primarily comprises:

  • Foreign currency fluctuation: (₹124.50) crore
  • Employee benefits and other expenses: ₹0.27 crore
  • Deferred assets for deferred tax liability: (₹39.27) crore
  • Tax impact: (₹57.13) crore

Movement in "Deferred assets against deferred Tax liability" attributable to remeasurement of deferred tax balances pursuant to enactment of Finance Act, 2026 and expected transition to new tax regime under Income-tax Act, 2025.

Subsidiaries and Joint Ventures

The consolidated results include:

  • 67 subsidiary companies (100% owned unless specified)
  • 14 joint venture companies with varying ownership percentages
  • Several subsidiaries acquired from PFC Consulting Limited and REC Power Development and Consultancy Limited in May-June 2026

Board and Committee Approvals

  • Board meeting held on 05 August 2026 from 7:40 PM to 9:00 PM IST
  • Results reviewed by Audit Committee (consisting of two Non-executive Directors and one Executive Director, pending appointment of Independent Directors)
  • Statutory Auditors conducted limited review of both standalone and consolidated financial results

Compliance and Certifications

  • Filed compliance under Regulation 52(4), 52(7) and 54(2) of SEBI LODR
  • Submitted utilization certificate for issue proceeds showing no deviation
  • Provided auditor's certificate on maintenance of security cover for listed non-convertible debt securities
  • Security cover ratio maintained at 1.10 times as required

Auditors

Limited review conducted by joint auditors:

  • ASA & Associates LLP
  • Sagar & Associates
  • Jain Paras Bilala & Co.
  • G. D. Apte & Co.