Torrent Power Ltd.

NSE: TORNTPOWER · Integrated Power Utilities

52W Range₹1,188 ₹1,824

Snapshot

Unlock Torrent Power Ltd.'s vital signs

Growth · Profitability · Valuation · Strength · Conviction

Company Overview

Business

Torrent Power Limited is an integrated power utility engaged in the generation, transmission, and distribution of electricity across India. The company operates thermal and renewable power plants while managing extensive distribution networks and manufacturing power cables.

Business Model

The company generates revenue through the sale of electricity from its thermal and renewable power assets and by operating as a licensed distributor and franchisee in various urban regions. It further supplements income through the manufacturing and supply of power cables.

  • Generation Capacity:4,110 MW
  • Customer Base:4.2 million

Growth Outlook

Growth is driven by the expansion of renewable energy capacity and the strengthening of distribution infrastructure in licensed and franchisee areas. The company continues to focus on operational efficiency and expanding its footprint in the power distribution sector.

Key Risks

  • Regulatory Risk. Changes in government policies and tariff regulations can significantly impact the profitability of power distribution and generation businesses.
  • Fuel Supply Risk. Dependence on thermal power generation exposes the company to volatility in fuel prices and potential supply chain disruptions.
  • Operational Risk. The distribution business faces challenges related to aggregate technical and commercial (AT&C) losses and the maintenance of aging infrastructure.
  • Counterparty Risk. Financial instability of state-owned distribution companies can lead to delayed payments and increased working capital requirements.

Price

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Key Metrics

REVENUE

₹28,966 Cr

TTM · consolidated

-0.7%YoY

NET PROFIT

₹2,469 Cr

TTM · consolidated

-19.3%YoY

EPS

₹47.95

TTM · consolidated

-21.4%YoY

RETURN ON EQUITY

13.7%

TTM · consolidated

-9.0 ppYoY

RETURN ON CAPITAL EMPLOYED

13.9%

TTM · consolidated

-2.4 ppYoY

P/E

29.6x

Q4 FY26 · consolidated

29.6 vs 47.1x5Y avg

EV/EBITDA

14.4x

Q4 FY26 · consolidated

14.4 vs 17.4x5Y avg

EBITDA MARGIN

20.2%

TTM · consolidated

+0.3 ppYoY

NET PROFIT MARGIN

5.2%

Q4 FY26 · consolidated

-11.5 ppYoY

DEBT TO EQUITY

0.7x

Q4 FY26 · consolidated

+0.26xYoY

Peers · Integrated Power Utilities

CompanyMkt Cap (Cr)P/EEV/EBITDARev Gr YoYEBITDA MgnROEROCE1Y Return
Torrent Power Ltd.TORNTPOWER
68,68729.6314.42-0.7%20.2%13.7%13.9%+1.9%
Adani Power Ltd.ADANIPOWER
2,91,39116.0220.07-3.5%43.2%22.2%18.3%-64.2%
Tata Power Co. Ltd.TATAPOWER
1,23,56332.1812.62-4.7%23.8%13.9%8.4%-9.1%
CESC Ltd.CESC
19,95611.446.6639.8%24.7%16.6%13.0%-8.4%
Reliance Infrastructure Ltd.RELINFRA
2,9890.932.12-13.4%13.4%31.6%6.2%-83.4%

As of Q4 FY26

Financials