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(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. <br /> (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: <br /> (i) Rs. 9,039.95 crore for the quarter (corresponding previous quarter Rs. 8,842.50 crore) as per tariff orders issued by CERC. <br /> (ii) Rs. 530.43 crore for the quarter (corresponding previous quarter Rs. 621.80 crore) provisionally as per CERC Tariff Regulations in respect of transmission assets for which tariff orders are yet to be issued. <br /> (c) Consequent to the final order issued by CERC, transmission income includes Rs. 21.56 crore (decrease) for the quarter (corresponding previous quarter Rs. 7.82 crore (increase)) pertaining to earlier years. <br /> 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 – <br /> • 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 <br /> <br /> • 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-III 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”) <br /> 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. <br /> 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. <br /> 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. <br /> 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. <br /> The detailed breakup of the same is as follows: <br /> (Rs. in Crore) <br /> Sl no Particulars Quarter ended Quarter ended Quarter ended Year ended <br /> 30-06-2026 31-03-2026 30-06-2025 31-03-2026 <br /> (Unaudited) (Unaudited) (Unaudited) (Audited) <br /> 1 Deferred assets for deferred tax liability* (39.03) (5,220.38) 8.71 (4,871.81) <br /> 2 Foreign Currency Fluctuation (124.50) 660.35 248.93 1,506.77 <br /> 3 Employee Benefits and Other Expenses 0.27 0.23 0.23 3.27 <br /> (163.26) (4,559.80) 257.87 (3,361.77) <br /> 4 Tax on net movement in regulatory deferral account balances (57.10) (796.70) 45.05 (587.38) <br /> Total (106.16) (3,763.10) 212.82 (2,774.39) <br /> *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 Regulatory Deferral Account Balances. <br /> 6. Provision for taxes, employee benefits and other provisions for contingencies have been considered on estimated basis. <br /> 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. <br /> 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. <br /> 9. Previous period figures have been regrouped / rearranged wherever considered necessary <br /> For the year ended, Debt of company is more than equity.1. For the quarter ended, Sum of Profit for the period, Depreciation and amortisation expense, Finance costs, FERV and Net Loss on Sale of Fixed Assets is more than Sum of Finance costs, Lease Payments and Principal Repayments. <br /> <br /> 2. For the year ended, Sum of Profit for the period, Depreciation and amortisation expense, Finance costs, FERV and Net Loss on Sale of Fixed Assets is more than Sum of Finance costs, Lease Payments and Principal Repayments.1. For the quarter ended, Sum of Profit for the period, Depreciation and amortisation expense, Finance costs, FERV and Net Loss on Sale of Fixed Assets is more than Finance costs. <br /> <br /> 2. For the year ended, Sum of Profit for the period, Depreciation and amortisation expense, Finance costs, FERV and Net Loss on Sale of Fixed Assets is more than Finance costs.Other expenses12865200000Transmission109291600000Consultancy5187300000Telecom2517700000Assets Classified as Held for Sale01169966000001178100000115818500000Transmission63612000000Consultancy300700000Telecom979700000Assets Classified as Held for Sale064892400000202294000005470000044608300000Transmission2267320400000Consultancy46597800000Telecom22027600000Assets Classified as Held for Sale2917050000023651163000005731530000002938269300000Transmission107852100000Consultancy48455800000Telecom13176900000Assets Classified as Held for Sale2545510000019493990000017030464000001897986300000Items that will not be reclassified to Profit or Loss71380000071380000070500000Amount of items that will be reclassified to profit and loss-1627500000Share of Other Comprehensive Income of Joint Ventures accounted for using Equity Method-137500000-1765000000-409600000-712100000