The Committee of Directors on Investment of Power Grid Corporation of India Ltd has approved investment proposals worth around Rs 9.14 billion for the procurement of cold spare transformers and reactors. The approvals were granted at a meeting held on 20 January 2026, the company said in a regulatory filing. The projects are scheduled to be implemented within 30 months from the date of investment approval.

The committee cleared a proposal for procurement approved at the 51st meeting of the Western Regional Power Committee, with an estimated cost of Rs 4.02 billion. It also approved a proposal endorsed at the 28th meeting of the North Eastern Regional Power Committee, valued at Rs 1.66 billion. In addition, procurement approved at the 53rd meeting of the Southern Regional Power Committee was cleared at an estimated cost of Rs 3.46 billion.

Meanwhile, Power Grid’s financial performance in the September quarter was largely below market expectations. The company reported a 6 per cent decline in net profit to Rs 35.66 billion from Rs 37.93 billion in the same period last year, lower than the market estimate of Rs 37.8 billion.

Revenue for the quarter increased by 1.8 per cent year-on-year to Rs 114.76 billion from Rs 112.77 billion and was marginally above the estimated Rs 114.31 billion.

Power Grid shares were trading at Rs 254.50, down Rs 3.15, or 1.22 per cent, reflecting investor reaction to the earnings performance.

The latest investment approvals highlight Power Grid’s continued focus on strengthening transmission infrastructure and enhancing grid resilience across key regions, supporting India’s growing electricity demand and reliability requirements.