New Delhi, April 15 -- India's power demand recovery remains elusive, with growth staying muted in Q4FY26 amid an extended monsoon and slow start to summer, even as the sector looks to FY27 for a potential pickup. According to Nuvama's latest report on India's power sector, demand rose just 1.9% YoY in Q4FY26 and was largely flat for the full year, setting up a subdued base for thermal utilities heading into the next fiscal.

Nuvama expects modest profit after tax growth across its power coverage universe in Q4FY26. "We reckon Nuvama's power coverage universe shall post modest PAT growth in Q4FY26, driven by weak Plant Load Factor across utilities," the report said.

"India's power demand remained muted for yet another quarter (Q4FY26 gro...