Tata Power Company Ltd.

•

tatapower.comBSE: 500400NSE: TATAPOWER

Market Cap₹ 1,16,630 Cr.

Current Price

High / Low₹ 465 / 342

Stock P/E30.2

Book Value₹ 127

Price to Book3.07

Dividend Yield0.68 %

ROCE11.6 %

ROE13.6 %

Face Value₹ 1

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Transmission and Distribution: 60.4% • Renewables: 22.0% • Generation: 17.0%

AI Sector View

AI GENERATED

Power

Buy

Operationally, power remains one of the strongest sectors in the dataset. Power generation rose 8.0% YoY (2026-07), IIP-electricity was 10.0% YoY (2026-06), electricity core output was 9.0% YoY (2026-07), and coal offtake increased 10.0% YoY (2026-07). FPI outflows are a headwind at INR -10736 crore over 3 months to 2026-08-31, but the fundamental demand signal is strong enough to retain a positive stance.

Confidence

71%

View full sector analysis →

PROS

Company has delivered good profit growth of 28.1% CAGR over last 5 years
Company has consistently been profitable over the last 5 years
Operating margins have improved to 21.0% from 16.6%
Strong cash generation - operating cash flow backs reported profits (CFO/PAT 2.20x)
Company has a consistent dividend-paying track record
Institutional investors have been accumulating - FII+DII up 2.1pp

CONS

A large part of profit comes from other income (26.3% of PBT)
Working capital days have increased from -53 to -3 days
Recurring exceptional / one-off items are inflating headline profit
Growth is decelerating - 3Y profit CAGR (10.3%) trails the 5Y trend (28.1%)
Expensive relative to growth - PEG of 2.9

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

PowerPowerPower Generation/Distribution

Part ofNIFTY NEXT 50 NIFTYLARGEMIDCAP250 NIFTY CONSUMPTION NIFTY100 EQL WGT NIFTY TOTAL MKT

S.No.	Name
1.	ADANIPOWER	209.85	28.39	404689.32	0.00	4866.60	47.24	18901.89	33.97	17.79	42.67
2.	NTPC	333.30	11.64	323189.88	2.70	6896.44	-88.71	50740.96	7.81	8.52	33.23
3.	POWERGRID	269.10	15.74	250279.25	3.34	3598.42	-0.89	11496.72	2.68	9.74	82.97
4.	ADANIGREEN	1282.00	118.37	211167.98	0.00	983.00	19.30	4431.00	16.61	9.90	91.24
5.	ADANIENSOL	1373.75	57.55	168003.37	0.00	12365.60	2194.43	97110.80	1324.06	9.71	31.27
6.	TATAPOWER	365.00	30.19	116629.89	0.68	1400.86	10.98	19051.26	5.63	11.63	21.53
7.	JSWENERGY	525.45	48.97	96340.35	0.38	532.70	-36.27	5207.13	1.24	8.50	55.22
8.	NHPC	76.30	20.19	76643.62	2.11	1178.09	4.15	3808.31	18.50	6.16	61.80
9.	NTPCGREEN	86.90	120.64	73224.80	0.00	304.84	38.26	1106.86	62.72	3.73	91.95
10.	TORNTPOWER	1298.20	28.15	65416.76	1.54	661.85	-10.75	8124.15	2.75	14.37	18.93
11.	NLCINDIA	264.25	11.42	36641.87	1.46	436.33	-48.01	4716.75	23.29	11.27	32.83
12.	ACMESOLAR	401.85	47.07	28405.75	0.05	235.33	79.88	857.50	67.81	9.23	85.63

Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	15,213	15,738	14,651	15,847	17,294	15,698	15,391	17,096	18,035	15,545	13,948	14,900	19,051
	12,480	12,943	12,044	13,105	14,191	12,403	12,312	13,618	14,467	12,019	10,357	11,239	17,858
Operating Profit	2,734	2,795	2,607	2,741	3,103	3,294	3,079	3,478	3,568	3,526	3,592	3,661	1,194
OPM %	17.97%	17.76%	17.79%	17.30%	17.94%	20.99%	20.01%	20.34%	19.79%	22.68%	25.75%	24.57%	6.26%
	506	292	643	656	247	373	402	369	362	505	321	461	388
Interest	1,221	1,182	1,094	1,136	1,176	1,143	1,170	1,213	1,279	1,319	1,364	1,295	1,407
Depreciation	893	926	926	1,041	973	987	1,041	1,116	1,161	1,162	1,208	1,280	1,260
Profit before Tax	1,125	979	1,230	1,221	1,201	1,538	1,271	1,517	1,490	1,551	1,341	1,547	1,823
Tax %	29.74%	21.78%	33.56%	40.26%	25.12%	44.21%	21.18%	19.35%	23.97%	28.02%	25.75%	24.67%	23.17%
Net Profit	0	0	0	0	1,189	1,093	1,188	1,306	1,262	1,245	1,194	1,416	1,401
	3.04	2.74	2.98	2.79	3.04	2.90	3.22	3.26	3.31	2.88	2.41	3.12	3.68

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	27,588	26,840	29,881	29,136	32,703	42,816	55,109	61,449	65,478	62,429	63,445
	21,789	20,568	23,168	21,216	25,701	35,346	47,433	50,665	51,571	49,334	51,472
Operating Profit	5,799	6,272	6,713	7,921	7,003	7,470	7,676	10,784	13,907	13,095	11,972
OPM %	21.02%	23.37%	22.46%	27.18%	21.41%	17.45%	13.93%	17.55%	21.24%	20.98%	18.87%
	-257	1,126	2,268	623	866	577	2,392	2,190	438	2,901	1,676
Interest	3,365	3,761	4,170	4,495	4,010	3,864	4,372	4,633	4,702	5,257	5,384
Depreciation	1,956	2,346	2,393	2,634	2,745	3,122	3,439	3,786	4,117	4,811	4,910
Profit before Tax	1,447	2,845	3,819	2,368	1,987	3,003	5,457	5,732	6,320	6,636	6,262
Tax %	24.22%	5.69%	28.48%	27.09%	25.26%	12.64%	30.19%	25.33%	24.44%	22.88%	25.29%
Net Profit	1,097	2,683	2,732	1,727	1,485	2,623	3,810	4,280	4,775	5,118	4,678
EPS	2.90	8.49	8.08	3.12	3.17	5.36	10.43	11.57	12.43	11.73	—
Dividend Payout %	39.21%	14.60%	14.92%	41.20%	43.93%	32.11%	19.15%	17.29%	18.10%	21.32%	—

COMPOUNDED SALES GROWTH

10 Years:: 8%
5 Years:: 14%
3 Years:: 4%

COMPOUNDED PROFIT GROWTH

10 Years:: 19%
5 Years:: 27%
3 Years:: 4%

STOCK PRICE CAGR

10 Years:: 17%
5 Years:: 22%
3 Years:: 12%
1 Year:: -6%

RETURN ON EQUITY

10 Years:: 13%
5 Years:: 14%
3 Years:: 14%
Last Year:: 14%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	270	270	270	270	320	320	320	320	320	320
Minority Interest	1,869	2,015	2,167	2,332	2,927	3,587	5,417	5,977	6,765	8,071
	12,944	14,629	16,535	17,796	20,503	22,122	28,468	32,027	35,486	39,067
	49,012	48,111	51,352	54,529	52,558	57,217	58,383	60,104	67,309	84,133
Trade Payables	5,529	5,610	5,481	5,095	7,146	10,460	7,407	14,093	13,984	10,786
	13,205	11,256	8,267	9,652	15,201	18,845	28,102	26,532	32,329	32,188
Total Liabilities	82,829	81,892	84,073	89,674	98,655	1,12,550	1,28,096	1,39,054	1,56,193	1,74,564
	46,592	44,656	44,305	47,666	52,179	57,389	61,747	67,210	78,374	87,293
Capital Work in Progress	1,923	1,653	2,576	1,612	3,270	4,635	5,376	11,561	12,679	14,595
	11,873	12,429	13,542	14,535	13,149	14,160	16,670	16,316	16,316	16,575
	1,600	1,623	1,706	1,752	1,886	4,232	3,943	4,420	4,572	5,108
	0	0	0	0	0	0	0	7,402	5,710	4,424
Cash & Bank	954	1,186	787	2,094	5,871	6,641	11,207	9,152	11,751	13,644
	19,887	20,345	21,157	22,015	22,300	25,493	29,154	22,994	26,791	32,926
Total Assets	82,829	81,892	84,073	89,674	98,655	1,12,550	1,28,096	1,39,054	1,56,193	1,74,564

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	7,594	6,966	5,080	7,984	8,792	7,387	8,036	12,504	12,680	5,993
Cash from Investing	-7,419	-1,518	-319	-543	668	-6,277	-7,382	-8,943	-15,449	-14,193
Cash from Financing	937	-4,726	-5,184	-5,110	-7,603	-1,183	1,341	-4,497	4,292	7,783
	533	120	-930	1,723	1,410	-767	1,125	-936	1,524	-417

Ratios

Consolidated Figures in Rs. Crores / View Standalone

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026

Shareholding Pattern

Numbers in percentages

Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
46.86	46.86	46.86	46.86	46.86	46.86	46.86	46.86	46.86
9.50	9.15	9.45	9.38	10.05	10.19	10.00	10.04	10.03
15.49	16.63	15.71	15.87	15.95	16.34	17.20	17.98	18.12
0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
27.80	27.02	27.64	27.55	26.81	26.28	25.61	24.81	24.67

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-09-11

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-11 - Tata Power Company Limited has informed the Exchange about Schedule of meet

2026-09-04

Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-04 - Tata Power Company Limited has informed the Exchange about Schedule of meet

2026-09-03

Press Release

2026-09-03 - Tata Power Company Limited has informed the Exchange regarding a press release dated September 03, 2026, titled "Press release titled Tata Power Strengthens NCR s Power Infrastructure with Commissioning of 400kV Jalpura-Khurja Transmission Corridor, comprising 162 CKM Transmission lines and 1,000 MVA Substation .".

2026-08-31

Press Release

2026-08-31 - Tata Power Company Limited has informed the Exchange regarding a press release dated August 31, 2026, titled "Tata Power Renewables Utility Portfolio Scales to 12.3 GW; Surpasses 7 GW Operational Capacity with Commissioning of 100 MW Project at Kayathar, Tamil Nadu".

2026-08-27

Press Release

2026-08-27 - Tata Power Company Limited has informed the Exchange regarding a press release dated August 27, 2026, titled "Press release titled "Tata Power Renewables Powers Tata Steel's Decarbonization Journey with 72.5 MW Captive Solar Project in Rajasthan".

2026-08-26

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-26 - Tata Power Company Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-25

Analysts/Institutional Investor Meet/Con. Call Updates

2026-08-25 - Tata Power Company Limited has informed the Exchange about Schedule of meet

2026-08-24

Press Release

2026-08-24 - Tata Power Company Limited has informed the Exchange regarding a press release dated August 24, 2026, titled "Tata Power Renewables Marks a Major Milestone with Commissioning of 190.5 MW FDRE Project in Rajasthan".

2026-08-18

Copy of Newspaper Publication

2026-08-18 - Tata Power Company Limited has informed the Exchange about Copy of Newspaper Publication

News

Recent coverage and analyst commentary for TATAPOWER

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Name

ADANIPOWER

209.85

28.39

404689.32

0.00

4866.60

47.24

18901.89

33.97

17.79

42.67

NTPC

333.30

11.64

323189.88

2.70

6896.44

-88.71

50740.96

7.81

8.52

33.23

POWERGRID

269.10

15.74

250279.25

3.34

3598.42

-0.89

11496.72

2.68

9.74

82.97

ADANIGREEN

1282.00

118.37

211167.98

0.00

983.00

19.30

4431.00

16.61

9.90

91.24

ADANIENSOL

1373.75

57.55

168003.37

0.00

12365.60

2194.43

97110.80

1324.06

9.71

31.27

TATAPOWER

365.00

30.19

116629.89

0.68

1400.86

10.98

19051.26

5.63

11.63

21.53

JSWENERGY

525.45

48.97

96340.35

0.38

532.70

-36.27

5207.13

1.24

8.50

55.22

NHPC

76.30

20.19

76643.62

2.11

1178.09

4.15

3808.31

18.50

6.16

61.80

NTPCGREEN

86.90

120.64

73224.80

0.00

304.84

38.26

1106.86

62.72

3.73

91.95

TORNTPOWER

1298.20

28.15

65416.76

1.54

661.85

-10.75

8124.15

2.75

14.37

18.93

NLCINDIA

264.25

11.42

36641.87

1.46

436.33

-48.01

4716.75

23.29

11.27

32.83

ACMESOLAR

401.85

47.07

28405.75

0.05

235.33

79.88

857.50

67.81

9.23

85.63

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

15,213

15,738

14,651

15,847

17,294

15,698

15,391

17,096

18,035

15,545

13,948

14,900

19,051

12,480

12,943

12,044

13,105

14,191

12,403

12,312

13,618

14,467

12,019

10,357

11,239

17,858

Operating Profit

2,734

2,795

2,607

2,741

3,103

3,294

3,079

3,478

3,568

3,526

3,592

3,661

1,194

OPM %

17.97%

17.76%

17.79%

17.30%

17.94%

20.99%

20.01%

20.34%

19.79%

22.68%

25.75%

24.57%

6.26%

506

292

643

656

247

373

402

369

362

505

321

461

388

Interest

1,221

1,182

1,094

1,136

1,176

1,143

1,170

1,213

1,279

1,319

1,364

1,295

1,407

Depreciation

893

926

1,041

973

987

1,041

1,116

1,161

1,162

1,208

1,280

1,260

Profit before Tax

1,125

979

1,230

1,221

1,201

1,538

1,271

1,517

1,490

1,551

1,341

1,547

1,823

Tax %

29.74%

21.78%

33.56%

40.26%

25.12%

44.21%

21.18%

19.35%

23.97%

28.02%

25.75%

24.67%

23.17%

Net Profit

1,189

1,093

1,188

1,306

1,262

1,245

1,194

1,416

1,401

3.04

2.74

2.98

2.79

3.04

2.90

3.22

3.26

3.31

2.88

2.41

3.12

3.68

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

27,588

26,840

29,881

29,136

32,703

42,816

55,109

61,449

65,478

62,429

63,445

21,789

20,568

23,168

21,216

25,701

35,346

47,433

50,665

51,571

49,334

51,472

Operating Profit

5,799

6,272

6,713

7,921

7,003

7,470

7,676

10,784

13,907

13,095

11,972

OPM %

21.02%

23.37%

22.46%

27.18%

21.41%

17.45%

13.93%

17.55%

21.24%

20.98%

18.87%

-257

1,126

2,268

623

866

577

2,392

2,190

438

2,901

1,676

Interest

3,365

3,761

4,170

4,495

4,010

3,864

4,372

4,633

4,702

5,257

5,384

Depreciation

1,956

2,346

2,393

2,634

2,745

3,122

3,439

3,786

4,117

4,811

4,910

Profit before Tax

1,447

2,845

3,819

2,368

1,987

3,003

5,457

5,732

6,320

6,636

6,262

Tax %

24.22%

5.69%

28.48%

27.09%

25.26%

12.64%

30.19%

25.33%

24.44%

22.88%

25.29%

Net Profit

1,097

2,683

2,732

1,727

1,485

2,623

3,810

4,280

4,775

5,118

4,678

EPS

2.90

8.49

8.08

3.12

3.17

5.36

10.43

11.57

12.43

11.73

—

Dividend Payout %

39.21%

14.60%

14.92%

41.20%

43.93%

32.11%

19.15%

17.29%

18.10%

21.32%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

270

320

Minority Interest

1,869

2,015

2,167

2,332

2,927

3,587

5,417

5,977

6,765

8,071

12,944

14,629

16,535

17,796

20,503

22,122

28,468

32,027

35,486

39,067

49,012

48,111

51,352

54,529

52,558

57,217

58,383

60,104

67,309

84,133

Trade Payables

5,529

5,610

5,481

5,095

7,146

10,460

7,407

14,093

13,984

10,786

13,205

11,256

8,267

9,652

15,201

18,845

28,102

26,532

32,329

32,188

Total Liabilities

82,829

81,892

84,073

89,674

98,655

1,12,550

1,28,096

1,39,054

1,56,193

1,74,564

46,592

44,656

44,305

47,666

52,179

57,389

61,747

67,210

78,374

87,293

Capital Work in Progress

1,923

1,653

2,576

1,612

3,270

4,635

5,376

11,561

12,679

14,595

11,873

12,429

13,542

14,535

13,149

14,160

16,670

16,316

16,575

1,600

1,623

1,706

1,752

1,886

4,232

3,943

4,420

4,572

5,108

7,402

5,710

4,424

Cash & Bank

954

1,186

787

2,094

5,871

6,641

11,207

9,152

11,751

13,644

19,887

20,345

21,157

22,015

22,300

25,493

29,154

22,994

26,791

32,926

Total Assets

82,829

81,892

84,073

89,674

98,655

1,12,550

1,28,096

1,39,054

1,56,193

1,74,564

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

7,594

6,966

5,080

7,984

8,792

7,387

8,036

12,504

12,680

5,993

Cash from Investing

-7,419

-1,518

-319

-543

668

-6,277

-7,382

-8,943

-15,449

-14,193

Cash from Financing

937

-4,726

-5,184

-5,110

-7,603

-1,183

1,341

-4,497

4,292

7,783

533

120

-930

1,723

1,410

-767

1,125

-936

1,524

-417

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

46.86

9.50

9.15

9.45

9.38

10.05

10.19

10.00

10.04

10.03

15.49

16.63

15.71

15.87

15.95

16.34

17.20

17.98

18.12

0.01

27.80

27.02

27.64

27.55

26.81

26.28

25.61

24.81

24.67

Tata Power Company Ltd.

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Quarterly Results

Profit & Loss

Balance Sheet

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Tata Power Company Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI