POWERGRID Infrastructure Investment Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
PGInvIT reported FY25 consolidated income of ₹13,050.55 million with PAT rising to ₹11,718.93 million (up 19% YoY from ₹9,817.32 million) and EPS at ₹12.92. The trust declared ₹3/unit distribution for Q4 FY25, taking total FY25 payout to ₹12/unit as guided, with fair value NAV at ₹94.12/unit. Management reiterated FY26 DPU guidance of ₹12/unit but acknowledged a likely revenue and distribution dip in FY27–FY28 due to TSA-related revenue decline and rising costs, unless fresh acquisitions happen. The 26% stake acquisition from POWERGRID was completed on December 30, 2024, asset availability stayed above 98%, and AAA credit rating was maintained with cost of debt at 7.92% (currently ~7.33%) on ₹10,723 million borrowings.
Near-term ₹12/unit FY26 distribution visibility supports unit price stability, but the candid acknowledgment of a post-FY28 distribution decline (without a firm acquisition pipeline) may deepen the prevailing market discount to the ₹94.12 NAV. Investors should watch for state-level asset monetization progress as the key catalyst for sustaining DPU beyond FY26.