POWERGRID Infrastructure Investment Trust has informed the Exchange regarding Disclosure of material issue
Awaiting price reaction for this filing.
PGInvIT reported Q4 FY26 consolidated income of ₹3,200 million with a distribution of ₹3 per unit, marking the 19th consecutive quarterly distribution. For FY26, total payout stood at ₹12 per unit, and the company maintained this guidance for FY27 as well. Cumulative distributions since IPO exceed ₹53.23 billion. The trust holds 5 SPVs with 3,699 circuit kilometers of transmission lines and 3 substations across 5 states, all backed by long-term agreements with average residual life of 26 years. However, management admitted that without new asset acquisitions, distributions are expected to drop approximately 23-24% from FY27-28 due to fixed tariff models and depreciation schedules. The company is pursuing a consortium with parent POWERGRID for TBCB projects and is in discussions with 2-3 private transmission owners for acquisitions.
Investors expressed concern about no new acquisitions in 5 years despite competitors adding assets regularly. The admission of an impending ~24% distribution decline without acquisitions, combined with a declining NAV (₹90.79 vs ₹94.12), may pressure unit prices unless the company secures assets through its pending consortium or private deals.