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Torrent Power Ltd.

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torrentpower.comBSE: 532779NSE: TORNTPOWER
Market Cap₹ 65,417 Cr.
Current Price
High / Low₹ 1,824 / 1,188
Stock P/E28.2
Book Value₹ 392
Price to Book3.45
Dividend Yield1.54 %
ROCE14.4 %
ROE13.5 %
Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2026 • Transmission & Distribution: 73.7% • Generation: 22.6% • Renewables: 3.7%

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 consistently been profitable over the last 5 years
  • Company has delivered good sales growth of 18.9% CAGR over last 5 years
  • Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.96x)
  • Company has been maintaining a healthy dividend payout of 41.7%
  • Working capital cycle has improved - days down from 13 to -6
  • Company has a consistent dividend-paying track record

CONS

  • Recent results are weak - TTM profit is down 34.3% versus prior year
  • Promoter holding has decreased over last 2 years: -2.5pp
  • Total debt has risen sharply - up 57.2% year on year
  • Expensive relative to growth - PEG of 6.3
  • Growth is decelerating - 3Y profit CAGR (4.5%) trails the 5Y trend (13.8%)

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

Peer comparison

PowerPowerPower Generation/Distribution
Part ofNIFTYLARGEMIDCAP250NIFTYMIDCAP150NIFTY MIDCAP 150NIFTY TOTAL MKTNIFTY 500
S.No.Name
1.ADANIPOWER209.8528.39404689.320.004866.6047.2418901.8933.9717.7942.67
2.NTPC333.3011.64323189.882.706896.44-88.7150740.967.818.5233.23
3.POWERGRID269.1015.74250279.253.343598.42-0.8911496.722.689.7482.97
4.ADANIGREEN1282.00118.37211167.980.00983.0019.304431.0016.619.9091.24
5.ADANIENSOL1373.7557.55168003.370.0012365.602194.4397110.801324.069.7131.27
6.TATAPOWER365.0030.19116629.890.681400.8610.9819051.265.6311.6321.53
7.JSWENERGY525.4548.9796340.350.38532.70-36.275207.131.248.5055.22
8.NHPC76.3020.1976643.622.111178.094.153808.3118.506.1661.80
9.NTPCGREEN86.90120.6473224.800.00304.8438.261106.8662.723.7391.95
10.TORNTPOWER1298.2028.1565416.761.54661.85-10.758124.152.7514.3718.93
11.NLCINDIA264.2511.4236641.871.46436.33-48.014716.7523.2911.2732.83
12.ACMESOLAR401.8547.0728405.750.05235.3379.88857.5067.819.2385.63
Detailed Comparison with:

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
7,3286,9616,3666,5299,0347,1766,4996,4567,9067,8766,7786,4068,124
6,1435,7405,3225,4207,1765,9685,3885,3266,4236,3705,3755,2577,280
Operating Profit1,1851,2211,0441,1091,8581,2071,1121,1301,4831,5061,4031,149845
OPM %16.17%17.55%16.40%16.99%20.57%16.82%17.10%17.51%18.76%19.12%20.70%17.94%10.40%
8610854977612517211410578697181
Interest227247235233260272276236212216255252293
Depreciation332342349355359371378389390389413421400
Profit before Tax7117415136171,315689630619985979805547925
Tax %25.16%26.75%27.12%27.58%24.21%28.02%22.32%-73.93%24.74%24.26%18.66%39.44%28.46%
Net Profit00009964964891,077742742655331662
10.7610.947.498.9520.2310.019.7621.0314.5214.3612.766.3112.68

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
9,96011,50213,15113,64112,17314,25825,69427,18329,16528,96629,184
7,5008,3859,96110,1048,70710,75720,95922,75023,88023,49124,281
Operating Profit2,4603,1173,1903,5373,4653,5014,7354,4345,2855,4764,903
OPM %24.70%27.10%24.26%25.93%28.47%24.56%18.43%16.31%18.12%18.90%16.80%
191264199-803142-975406470509388299
Interest1,0588488999557766288189431,0459341,015
Depreciation1,0061,1321,2271,3041,2801,3341,2811,3781,4971,6131,623
Profit before Tax5871,4011,2644751,5525643,0412,5833,2533,3173,257
Tax %26.82%32.04%28.47%-148.27%16.49%18.67%28.83%26.59%5.96%25.55%26.62%
Net Profit4309529041,1791,2964592,1651,8963,0592,4692,390
EPS8.9319.6118.7024.4326.869.4544.0638.1459.3147.95—
Dividend Payout %24.65%25.50%26.73%47.48%40.95%95.28%59.02%41.95%32.04%41.71%—

COMPOUNDED SALES GROWTH

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

COMPOUNDED PROFIT GROWTH

10 Years:
10%
5 Years:
13%
3 Years:
5%

STOCK PRICE CAGR

10 Years:
22%
5 Years:
22%
3 Years:
22%
1 Year:
2%

RETURN ON EQUITY

10 Years:
13%
5 Years:
15%
3 Years:
17%
Last Year:
13%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Corporate actions

2026

Jun 19

₹ 0.50

Rs.5.0000 per share(50%)Final Dividend

2026

Feb 16

₹ 1.50

Rs.15.0000 per share(150%)Interim Dividend

2025

Jun 6

₹ 0.50

Rs.5.0000 per share(50%)Final Dividend

2025

Feb 12

₹ 1.40

Rs.14.0000 per share(140%)Interim Dividend

2024

Jun 14

₹ 0.40

Rs.4.0000 per share(40%)Final Dividend

2024

Feb 16

₹ 1.20

Interim Dividend

2023

Jun 16

₹ 0.40

Rs.4.0000 per share(40%)Final Dividend

2023

Feb 22

₹ 0.90

Interim Dividend

2023

Feb 22

₹ 1.30

Rs.13.0000 per share(130%)Special Dividend

2022

Feb 10

₹ 0.90

Interim Dividend

2021

Jun 24

₹ 0.55

Rs.5.5000 per share(55%)Final Dividend

2021

Feb 16

₹ 0.55

Interim Dividend

2020

Feb 18

₹ 1.16

Interim Dividend

2018

Jun 8

₹ 0.50

Rs.5.0000 per share(50%)Final Dividend

2017

Jun 8

₹ 0.22

Rs.2.2000 per share(22%)Final Dividend

2016

Mar 17

₹ 0.45

Interim Dividend

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital481481481481481481481481504504
Minority Interest293637363636477536600633
6,4117,2398,4908,6739,7049,46310,52911,58117,11118,571
10,53210,53110,87110,1579,09310,45811,82612,58810,46914,777
Trade Payables7346598101,0389751,1111,5231,8121,8241,879
2,6063,6443,8623,2193,2263,4405,0366,3295,9508,680
Total Liabilities20,79322,58924,55023,60323,51424,98829,87233,32636,45945,045
16,80317,87118,01417,56917,32617,09719,26021,80224,28625,611
Capital Work in Progress3293903595678381,2972,6252,4722,2506,962
6718739147244664078049548951,531
369455627598450538820800658507
00000002,1912,3622,330
Cash & Bank269318328280202352344419380831
2,3502,6824,3083,8644,2325,2976,0204,6875,6287,273
Total Assets20,79322,58924,55023,60323,51424,98829,87233,32636,45945,045

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
2,4623,0842,7113,9083,2433,3983,9464,2584,8055,464
Cash from Investing-2,122-2,418-1,828-1,129-910-2,483-3,216-3,544-3,642-8,088
Cash from Financing-674-311-617-2,506-2,061-502-341-551-1,2163,101
-44034-20-2516182-101163-53478

Ratios

Consolidated Figures in Rs. Crores / View Standalone

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

Shareholding Pattern

Numbers in percentages

Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
53.5753.5751.0951.0951.0951.0951.0951.0951.09
8.438.889.939.439.808.828.328.408.51
19.5319.0321.2121.9021.4122.1622.7422.8222.69
1.478.758.358.358.358.358.358.358.35
17.019.779.419.249.349.599.519.349.36

Documents

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

2026-09-08
Press Release

2026-09-08 - Torrent Power Limited has informed the Exchange regarding a press release dated September 08, 2026, titled "Torrent Green Energy commissions landmark 322 MWp decentralized solar projects in Maharashtra under MSKVY PM-KUSUM scheme".

2026-09-07
Analysts/Institutional Investor Meet/Con. Call Updates

2026-09-07 - Torrent Power Limited has informed the Exchange about Schedule of meet

2026-08-25
Analysts/Institutional Investor Meet/Con. Call Updates

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

2026-08-20
Resignation of Director/KMP/SMP

2026-08-20 - Torrent Power Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-20
Resignation of Director/KMP/SMP

2026-08-20 - Torrent Power Limited has informed the Exchange about Resignation of Director/KMP/SMP

2026-08-20
Resignation

2026-08-20 - Torrent Power Limited has informed the Exchange regarding Resignation of Saurabh Mashruwala as Chief Financial Officer and Whole Time Key Managerial Personnel of the Company w.e.f. August 20, 2026.

2026-08-20
Appointment

2026-08-20 - Torrent Power Limited has informed the Exchange regarding Appointment of Vikas Poddar as Chief Financial Officer and Whole Time Key Managerial Personnel and Senior Management Personnel of the company w.e.f. August 21, 2026.

2026-08-20
Outcome of Board Meeting

2026-08-20 - Torrent Power Limited has informed the Exchange regarding Outcome of Board Meeting held on August 20, 2026.

2026-08-19
Acquisition

2026-08-19 - Torrent Power Limited has informed the Exchange about Intimation for incorporation of a New Step-Down Subsidiaries

News

Recent coverage and analyst commentary for TORNTPOWER

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