Torrent Power Ltd.
•2026-08-21
PROS
- Strong cash generation - operating cash flow backs reported profits (CFO/PAT 1.71x)
- Company has been maintaining a healthy dividend payout of 39.1%
- Working capital cycle has improved - days down from 36 to 11
- Company has a consistent dividend-paying track record
- Company generates healthy free cash flow
- Company maintains a comfortable, low leverage position
CONS
- Recent results are weak - TTM profit is down 30.0% versus prior year
- Promoter holding has decreased over last 2 years: -2.5pp
- Operating margins have contracted to 20.3% from 24.7%
- Total debt has risen sharply - up 30.4% year on year
- Expensive relative to growth - PEG of 3.7
* The pros and cons are machine generated based on quantitative rules.
Peer comparison
EDIT COLUMNS| S.No. | Name | CMP Rs. | P/E | Mar Cap Rs.Cr. | Div Yld % | NP Qtr Rs.Cr. | Qtr Profit Var % | Sales Qtr Rs.Cr. | Qtr Sales Var % | ROCE % | OPM % |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1. | ADANIPOWER | 203.50 | 27.53 | 392443.54 | 0.00 | 4866.60 | 47.24 | 18901.89 | 33.97 | 17.79 | 42.67 |
| 2. | NTPC | 338.00 | 11.81 | 327747.32 | 2.66 | 6896.44 | -88.71 | 50740.96 | 7.81 | 8.52 | 33.23 |
| 3. | POWERGRID | 265.25 | 15.52 | 246698.52 | 3.39 | 3598.42 | -0.89 | 11496.72 | 2.68 | 9.74 | 82.97 |
| 4. | ADANIGREEN | 1298.05 | 119.85 | 213811.70 | 0.00 | 983.00 | 19.30 | 4431.00 | 16.61 | 9.90 | 91.24 |
| 5. | ADANIENSOL | 1548.50 | 64.87 | 189374.50 | 0.00 | 12365.60 | 2194.43 | 97110.80 | 1324.06 | 9.71 | 31.27 |
| 6. | TATAPOWER | 375.65 | 31.07 | 120032.93 | 0.67 | 1400.86 | 10.98 | 19051.26 | 5.63 | 11.63 | 21.53 |
| 7. | JSWENERGY | 542.45 | 50.56 | 99457.27 | 0.37 | 532.70 | -36.27 | 5207.13 | 1.24 | 8.50 | 55.22 |
| 8. | NTPCGREEN | 91.85 | 127.51 | 77395.84 | 0.00 | 304.84 | 38.26 | 1106.86 | 62.72 | 3.73 | 91.95 |
| 9. | NHPC | 76.15 | 20.15 | 76492.94 | 2.11 | 1178.09 | 4.15 | 3808.31 | 18.50 | 6.16 | 61.80 |
| 10. | TORNTPOWER | 1249.10 | 27.09 | 62942.59 | 1.60 | 661.85 | -10.75 | 8124.15 | 2.75 | 14.37 | 18.93 |
| 11. | NLCINDIA | 272.00 | 11.75 | 37716.52 | 1.42 | 436.33 | -48.01 | 4716.75 | 23.29 | 11.57 | 32.83 |
| 12. | ACMESOLAR | 397.40 | 46.55 | 28091.19 | 0.05 | 235.33 | 79.88 | 857.50 | 67.81 | 8.53 | 85.63 |
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 5,383 | 5,106 | 4,681 | 4,787 | 7,186 | 5,288 | 4,746 | 4,692 | 6,167 | 6,106 | 5,097 | 4,480 | 6,049 | |
| 4,378 | 4,110 | 3,777 | 3,830 | 5,614 | 4,353 | 3,823 | 3,765 | 4,996 | 4,900 | 3,908 | 3,549 | 5,426 | |
| Operating Profit | — | — | — | — | — | — | — | — | — | — | — | — | — |
| OPM % | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Income | 100 | 140 | 93 | 157 | 145 | 201 | 162 | 179 | 173 | 188 | 157 | 169 | 183 |
| Interest | 192 | 194 | 191 | 204 | 227 | 228 | 232 | 187 | 164 | 164 | 191 | 176 | 207 |
| Depreciation | 274 | 277 | 283 | 288 | 263 | 266 | 269 | 275 | 277 | 266 | 294 | 299 | 271 |
| 639 | 664 | 522 | 621 | 1,228 | 641 | 585 | 644 | 902 | 963 | 860 | 624 | 805 | |
| Tax % | 25.10% | 25.97% | 26.44% | 28.55% | 24.38% | 27.64% | 36.96% | -69.16% | 24.11% | 22.54% | 17.21% | 30.83% | 27.11% |
| Net Profit | 479 | 492 | 384 | 444 | 928 | 464 | 369 | 1,090 | 685 | 746 | 712 | 432 | 587 |
| 10 | 10 | 8 | 9 | 19 | 10 | 8 | 22 | 14 | 15 | 14 | 9 | 1 | |
| Equity Capital | 481 | 481 | 481 | 481 | 481 | 481 | 504 | 504 | 504 | 504 | 504 | 504 | 504 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
| Equity Capital | 481 | 481 | 481 | 481 | 481 | 481 | 504 | 504 | 504 | 504 | 504 | 504 | 504 |
| Reserves | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Promoter Pledge % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
- 5,383
- 4,378
- Operating Profit
- —
- OPM %
- —
- Other Income
- 100
- Interest
- 192
- Depreciation
- 274
- 639
- Tax %
- 25.10%
- Net Profit
- 479
- 10
- Equity Capital
- 481
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 481
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 5,106
- 4,110
- Operating Profit
- —
- OPM %
- —
- Other Income
- 140
- Interest
- 194
- Depreciation
- 277
- 664
- Tax %
- 25.97%
- Net Profit
- 492
- 10
- Equity Capital
- 481
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 481
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,681
- 3,777
- Operating Profit
- —
- OPM %
- —
- Other Income
- 93
- Interest
- 191
- Depreciation
- 283
- 522
- Tax %
- 26.44%
- Net Profit
- 384
- 8
- Equity Capital
- 481
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 481
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,787
- 3,830
- Operating Profit
- —
- OPM %
- —
- Other Income
- 157
- Interest
- 204
- Depreciation
- 288
- 621
- Tax %
- 28.55%
- Net Profit
- 444
- 9
- Equity Capital
- 481
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 481
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 7,186
- 5,614
- Operating Profit
- —
- OPM %
- —
- Other Income
- 145
- Interest
- 227
- Depreciation
- 263
- 1,228
- Tax %
- 24.38%
- Net Profit
- 928
- 19
- Equity Capital
- 481
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 481
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 5,288
- 4,353
- Operating Profit
- —
- OPM %
- —
- Other Income
- 201
- Interest
- 228
- Depreciation
- 266
- 641
- Tax %
- 27.64%
- Net Profit
- 464
- 10
- Equity Capital
- 481
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 481
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,746
- 3,823
- Operating Profit
- —
- OPM %
- —
- Other Income
- 162
- Interest
- 232
- Depreciation
- 269
- 585
- Tax %
- 36.96%
- Net Profit
- 369
- 8
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,692
- 3,765
- Operating Profit
- —
- OPM %
- —
- Other Income
- 179
- Interest
- 187
- Depreciation
- 275
- 644
- Tax %
- -69.16%
- Net Profit
- 1,090
- 22
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 6,167
- 4,996
- Operating Profit
- —
- OPM %
- —
- Other Income
- 173
- Interest
- 164
- Depreciation
- 277
- 902
- Tax %
- 24.11%
- Net Profit
- 685
- 14
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 6,106
- 4,900
- Operating Profit
- —
- OPM %
- —
- Other Income
- 188
- Interest
- 164
- Depreciation
- 266
- 963
- Tax %
- 22.54%
- Net Profit
- 746
- 15
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 5,097
- 3,908
- Operating Profit
- —
- OPM %
- —
- Other Income
- 157
- Interest
- 191
- Depreciation
- 294
- 860
- Tax %
- 17.21%
- Net Profit
- 712
- 14
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 4,480
- 3,549
- Operating Profit
- —
- OPM %
- —
- Other Income
- 169
- Interest
- 176
- Depreciation
- 299
- 624
- Tax %
- 30.83%
- Net Profit
- 432
- 9
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- 6,049
- 5,426
- Operating Profit
- —
- OPM %
- —
- Other Income
- 183
- Interest
- 207
- Depreciation
- 271
- 805
- Tax %
- 27.11%
- Net Profit
- 587
- 1
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
- Equity Capital
- 504
- Reserves
- 0
- Promoter Pledge %
- 0.00%
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 9,921 | 11,439 | 12,978 | 13,442 | 11,777 | 13,716 | 18,836 | 19,957 | 21,913 | 21,850 | 21,732 | |
| 7,494 | 8,380 | 9,942 | 10,037 | 8,545 | 10,451 | 14,644 | 16,202 | 17,581 | 17,420 | 17,784 | |
| Operating Profit | 2,620 | 3,326 | 3,304 | 3,668 | 3,482 | 3,630 | 4,659 | 4,351 | 5,044 | 5,182 | — |
| OPM % | 26 | 29 | 25 | 27 | 30 | 26 | 25 | 22 | 23 | 24 | — |
| Other Income | 193 | 268 | 268 | 263 | 250 | 365 | 466 | 596 | 713 | 752 | 697 |
| Interest | 1,047 | 840 | 892 | 892 | 719 | 582 | 668 | 781 | 874 | 696 | 738 |
| Depreciation | 989 | 1,111 | 1,163 | 1,230 | 1,180 | 1,234 | 1,059 | 1,123 | 1,072 | 1,136 | 1,131 |
| 584 | 1,376 | 1,248 | 546 | 1,583 | 514 | 2,931 | 2,446 | 3,098 | 3,350 | 3,253 | |
| Tax % | 26 | 33 | 29 | -127 | 16 | 20 | 28 | 26 | 8 | 23 | 24 |
| Net Profit | 432 | 922 | 889 | 1,238 | 1,325 | 410 | 2,104 | 1,798 | 2,851 | 2,575 | 2,477 |
| EPS | 9 | 19 | 18 | 26 | 28 | 9 | 44 | 37 | 57 | 51 | — |
| Dividend Payout % | 24 | 26 | 27 | 45 | 40 | 106 | 59 | 43 | 34 | 39 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 9 | 19 | 19 | 26 | 28 | 9 | 44 | 37 | 57 | 51 | — |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share of Associates | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adjusted EPS | 9 | 19 | 19 | 26 | 28 | 9 | 44 | 37 | 57 | 51 | — |
- 9,921
- 7,494
- Operating Profit
- 2,620
- OPM %
- 26
- Other Income
- 193
- Interest
- 1,047
- Depreciation
- 989
- 584
- Tax %
- 26
- Net Profit
- 432
- EPS
- 9
- Dividend Payout %
- 24
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
- 11,439
- 8,380
- Operating Profit
- 3,326
- OPM %
- 29
- Other Income
- 268
- Interest
- 840
- Depreciation
- 1,111
- 1,376
- Tax %
- 33
- Net Profit
- 922
- EPS
- 19
- Dividend Payout %
- 26
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
- 12,978
- 9,942
- Operating Profit
- 3,304
- OPM %
- 25
- Other Income
- 268
- Interest
- 892
- Depreciation
- 1,163
- 1,248
- Tax %
- 29
- Net Profit
- 889
- EPS
- 18
- Dividend Payout %
- 27
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 19
- 13,442
- 10,037
- Operating Profit
- 3,668
- OPM %
- 27
- Other Income
- 263
- Interest
- 892
- Depreciation
- 1,230
- 546
- Tax %
- -127
- Net Profit
- 1,238
- EPS
- 26
- Dividend Payout %
- 45
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 26
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 26
- 11,777
- 8,545
- Operating Profit
- 3,482
- OPM %
- 30
- Other Income
- 250
- Interest
- 719
- Depreciation
- 1,180
- 1,583
- Tax %
- 16
- Net Profit
- 1,325
- EPS
- 28
- Dividend Payout %
- 40
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 28
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 28
- 13,716
- 10,451
- Operating Profit
- 3,630
- OPM %
- 26
- Other Income
- 365
- Interest
- 582
- Depreciation
- 1,234
- 514
- Tax %
- 20
- Net Profit
- 410
- EPS
- 9
- Dividend Payout %
- 106
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 9
- 18,836
- 14,644
- Operating Profit
- 4,659
- OPM %
- 25
- Other Income
- 466
- Interest
- 668
- Depreciation
- 1,059
- 2,931
- Tax %
- 28
- Net Profit
- 2,104
- EPS
- 44
- Dividend Payout %
- 59
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 44
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 44
- 19,957
- 16,202
- Operating Profit
- 4,351
- OPM %
- 22
- Other Income
- 596
- Interest
- 781
- Depreciation
- 1,123
- 2,446
- Tax %
- 26
- Net Profit
- 1,798
- EPS
- 37
- Dividend Payout %
- 43
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 37
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 37
- 21,913
- 17,581
- Operating Profit
- 5,044
- OPM %
- 23
- Other Income
- 713
- Interest
- 874
- Depreciation
- 1,072
- 3,098
- Tax %
- 8
- Net Profit
- 2,851
- EPS
- 57
- Dividend Payout %
- 34
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 57
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 57
- 21,850
- 17,420
- Operating Profit
- 5,182
- OPM %
- 24
- Other Income
- 752
- Interest
- 696
- Depreciation
- 1,136
- 3,350
- Tax %
- 23
- Net Profit
- 2,575
- EPS
- 51
- Dividend Payout %
- 39
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 51
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- 51
- 21,732
- 17,784
- Operating Profit
- —
- OPM %
- —
- Other Income
- 697
- Interest
- 738
- Depreciation
- 1,131
- 3,253
- Tax %
- 24
- Net Profit
- 2,477
- EPS
- —
- Dividend Payout %
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
- Minority Interest
- 0
- Share of Associates
- 0
- Adjusted EPS
- —
COMPOUNDED SALES GROWTH
- 10 Years:
- 7%
- 5 Years:
- 13%
- 3 Years:
- 5%
COMPOUNDED PROFIT GROWTH
- 10 Years:
- 11%
- 5 Years:
- 14%
- 3 Years:
- 7%
STOCK PRICE CAGR
- 10 Years:
- 21%
- 5 Years:
- 22%
- 3 Years:
- 24%
- 1 Year:
- -3%
RETURN ON EQUITY
- 10 Years:
- 13%
- 5 Years:
- 15%
- 3 Years:
- 16%
- Last Year:
- 14%
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| LIABILITIES | - | - | - | - | - | - | - | - | - | - |
| Equity Capital | 481 | 481 | 481 | 481 | 481 | 481 | 481 | 481 | 504 | 504 |
| 6,404 | 7,212 | 8,456 | 8,707 | 9,771 | 9,485 | 10,539 | 11,558 | 16,952 | 18,564 | |
| 551 | 710 | 1,079 | 1,002 | 1,089 | 1,652 | 1,251 | 615 | 780 | 585 | |
| Trade Payables | 733 | 657 | 804 | 1,027 | 971 | 1,108 | 1,081 | 1,090 | 1,370 | 1,378 |
| 12,447 | 13,042 | 13,005 | 11,663 | 10,467 | 10,879 | 12,635 | 15,448 | 12,053 | 14,772 | |
| Total Liabilities | 20,615 | 22,102 | 23,825 | 22,880 | 22,778 | 23,605 | 25,988 | 29,191 | 31,659 | 35,802 |
| ASSETS | - | - | - | - | - | - | - | - | - | - |
| 16,598 | 16,806 | 17,012 | 15,791 | 15,582 | 14,294 | 14,756 | 16,143 | 15,691 | 15,850 | |
| Capital Work in Progress | 320 | 390 | 359 | 567 | 838 | 1,186 | 1,609 | 816 | 756 | 954 |
| 754 | 989 | 1,162 | 1,021 | 781 | 1,414 | 2,494 | 2,742 | 2,416 | 7,206 | |
| 369 | 454 | 627 | 598 | 386 | 438 | 646 | 646 | 609 | 444 | |
| 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1,566 | 1,691 | 1,718 | |
| Cash & Bank | 269 | 270 | 326 | 224 | 189 | 207 | 282 | 311 | 297 | 610 |
| 2,304 | 3,193 | 4,338 | 4,678 | 5,003 | 6,065 | 6,202 | 6,968 | 10,199 | 9,021 | |
| Total Assets | 20,615 | 22,102 | 23,825 | 22,880 | 22,778 | 23,605 | 25,988 | 29,191 | 31,659 | 35,802 |
| Total Debt | 8,666 | 9,216 | 9,116 | 8,302 | 7,164 | 7,866 | 8,390 | 9,704 | 6,355 | 8,285 |
| Net Working Capital | 483 | 1,397 | 375 | -48 | -290 | -135 | 329 | 879 | 2,186 | 668 |
| Contingent Liabilities | 78 | 89 | 372 | 72 | 201 | 250 | 210 | 245 | 267 | 464 |
| Book Value per Share | 139.93 | 160.06 | 185.94 | 191.15 | 213.29 | 207.36 | 229.28 | 250.48 | 346.42 | 378.40 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
| Total Debt | 8,666 | 9,216 | 9,116 | 8,302 | 7,164 | 7,866 | 8,390 | 9,704 | 6,355 | 8,285 |
| Net Working Capital | 483 | 1,397 | 375 | -48 | -290 | -135 | 329 | 879 | 2,186 | 668 |
| Contingent Liabilities | 78 | 89 | 372 | 72 | 201 | 250 | 210 | 245 | 267 | 464 |
| Book Value per Share | 139.93 | 160.06 | 185.94 | 191.15 | 213.29 | 207.36 | 229.28 | 250.48 | 346.42 | 378.40 |
| Face Value | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 | 10.00 |
- Equity Capital
- 481
- 6,404
- 551
- Trade Payables
- 733
- 12,447
- Total Liabilities
- 20,615
- 16,598
- Capital Work in Progress
- 320
- 754
- 369
- 0
- Cash & Bank
- 269
- 2,304
- Total Assets
- 20,615
- Total Debt
- 8,666
- Net Working Capital
- 483
- Contingent Liabilities
- 78
- Book Value per Share
- 139.93
- Face Value
- 10.00
- Total Debt
- 8,666
- Net Working Capital
- 483
- Contingent Liabilities
- 78
- Book Value per Share
- 139.93
- Face Value
- 10.00
- Equity Capital
- 481
- 7,212
- 710
- Trade Payables
- 657
- 13,042
- Total Liabilities
- 22,102
- 16,806
- Capital Work in Progress
- 390
- 989
- 454
- 0
- Cash & Bank
- 270
- 3,193
- Total Assets
- 22,102
- Total Debt
- 9,216
- Net Working Capital
- 1,397
- Contingent Liabilities
- 89
- Book Value per Share
- 160.06
- Face Value
- 10.00
- Total Debt
- 9,216
- Net Working Capital
- 1,397
- Contingent Liabilities
- 89
- Book Value per Share
- 160.06
- Face Value
- 10.00
- Equity Capital
- 481
- 8,456
- 1,079
- Trade Payables
- 804
- 13,005
- Total Liabilities
- 23,825
- 17,012
- Capital Work in Progress
- 359
- 1,162
- 627
- 0
- Cash & Bank
- 326
- 4,338
- Total Assets
- 23,825
- Total Debt
- 9,116
- Net Working Capital
- 375
- Contingent Liabilities
- 372
- Book Value per Share
- 185.94
- Face Value
- 10.00
- Total Debt
- 9,116
- Net Working Capital
- 375
- Contingent Liabilities
- 372
- Book Value per Share
- 185.94
- Face Value
- 10.00
- Equity Capital
- 481
- 8,707
- 1,002
- Trade Payables
- 1,027
- 11,663
- Total Liabilities
- 22,880
- 15,791
- Capital Work in Progress
- 567
- 1,021
- 598
- 0
- Cash & Bank
- 224
- 4,678
- Total Assets
- 22,880
- Total Debt
- 8,302
- Net Working Capital
- -48
- Contingent Liabilities
- 72
- Book Value per Share
- 191.15
- Face Value
- 10.00
- Total Debt
- 8,302
- Net Working Capital
- -48
- Contingent Liabilities
- 72
- Book Value per Share
- 191.15
- Face Value
- 10.00
- Equity Capital
- 481
- 9,771
- 1,089
- Trade Payables
- 971
- 10,467
- Total Liabilities
- 22,778
- 15,582
- Capital Work in Progress
- 838
- 781
- 386
- 0
- Cash & Bank
- 189
- 5,003
- Total Assets
- 22,778
- Total Debt
- 7,164
- Net Working Capital
- -290
- Contingent Liabilities
- 201
- Book Value per Share
- 213.29
- Face Value
- 10.00
- Total Debt
- 7,164
- Net Working Capital
- -290
- Contingent Liabilities
- 201
- Book Value per Share
- 213.29
- Face Value
- 10.00
- Equity Capital
- 481
- 9,485
- 1,652
- Trade Payables
- 1,108
- 10,879
- Total Liabilities
- 23,605
- 14,294
- Capital Work in Progress
- 1,186
- 1,414
- 438
- 0
- Cash & Bank
- 207
- 6,065
- Total Assets
- 23,605
- Total Debt
- 7,866
- Net Working Capital
- -135
- Contingent Liabilities
- 250
- Book Value per Share
- 207.36
- Face Value
- 10.00
- Total Debt
- 7,866
- Net Working Capital
- -135
- Contingent Liabilities
- 250
- Book Value per Share
- 207.36
- Face Value
- 10.00
- Equity Capital
- 481
- 10,539
- 1,251
- Trade Payables
- 1,081
- 12,635
- Total Liabilities
- 25,988
- 14,756
- Capital Work in Progress
- 1,609
- 2,494
- 646
- 0
- Cash & Bank
- 282
- 6,202
- Total Assets
- 25,988
- Total Debt
- 8,390
- Net Working Capital
- 329
- Contingent Liabilities
- 210
- Book Value per Share
- 229.28
- Face Value
- 10.00
- Total Debt
- 8,390
- Net Working Capital
- 329
- Contingent Liabilities
- 210
- Book Value per Share
- 229.28
- Face Value
- 10.00
- Equity Capital
- 481
- 11,558
- 615
- Trade Payables
- 1,090
- 15,448
- Total Liabilities
- 29,191
- 16,143
- Capital Work in Progress
- 816
- 2,742
- 646
- 1,566
- Cash & Bank
- 311
- 6,968
- Total Assets
- 29,191
- Total Debt
- 9,704
- Net Working Capital
- 879
- Contingent Liabilities
- 245
- Book Value per Share
- 250.48
- Face Value
- 10.00
- Total Debt
- 9,704
- Net Working Capital
- 879
- Contingent Liabilities
- 245
- Book Value per Share
- 250.48
- Face Value
- 10.00
- Equity Capital
- 504
- 16,952
- 780
- Trade Payables
- 1,370
- 12,053
- Total Liabilities
- 31,659
- 15,691
- Capital Work in Progress
- 756
- 2,416
- 609
- 1,691
- Cash & Bank
- 297
- 10,199
- Total Assets
- 31,659
- Total Debt
- 6,355
- Net Working Capital
- 2,186
- Contingent Liabilities
- 267
- Book Value per Share
- 346.42
- Face Value
- 10.00
- Total Debt
- 6,355
- Net Working Capital
- 2,186
- Contingent Liabilities
- 267
- Book Value per Share
- 346.42
- Face Value
- 10.00
- Equity Capital
- 504
- 18,564
- 585
- Trade Payables
- 1,378
- 14,772
- Total Liabilities
- 35,802
- 15,850
- Capital Work in Progress
- 954
- 7,206
- 444
- 1,718
- Cash & Bank
- 610
- 9,021
- Total Assets
- 35,802
- Total Debt
- 8,285
- Net Working Capital
- 668
- Contingent Liabilities
- 464
- Book Value per Share
- 378.40
- Face Value
- 10.00
- Total Debt
- 8,285
- Net Working Capital
- 668
- Contingent Liabilities
- 464
- Book Value per Share
- 378.40
- Face Value
- 10.00
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| 2,312 | 2,803 | 2,334 | 3,469 | 2,670 | 2,981 | 3,118 | 3,414 | 4,278 | 4,694 | |
| Cash from Investing | -2,111 | -2,493 | -1,231 | -1,096 | -595 | -2,512 | -2,137 | -3,187 | -2,880 | -4,762 |
| Cash from Financing | -640 | -278 | -1,123 | -2,408 | -2,059 | -402 | -1,004 | -101 | -1,438 | 411 |
| -439 | 32 | -20 | -35 | 16 | 66 | -24 | 126 | -41 | 343 | |
| Free Cash Flow | -488 | 1,422 | 1,006 | 2,264 | 1,477 | 1,421 | 1,210 | 1,745 | 4,278 | 3,225 |
| OCF / Net Profit | 5.35 | 3.04 | 2.62 | 2.80 | 2.02 | 7.28 | 1.48 | 1.90 | 1.50 | 1.82 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 5,681 | 7,590 | 7,378 | 8,117 | 10,131 | 11,879 |
| OCF / Net Profit | 5.35 | 3.04 | 2.62 | 2.80 | 2.02 | 7.28 | 1.48 | 1.90 | 1.50 | 1.82 |
| Cumulative 5-Year FCF | 0 | 0 | 0 | 0 | 5,681 | 7,590 | 7,378 | 8,117 | 10,131 | 11,879 |
- 2,312
- Cash from Investing
- -2,111
- Cash from Financing
- -640
- -439
- Free Cash Flow
- -488
- OCF / Net Profit
- 5.35
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 5.35
- Cumulative 5-Year FCF
- 0
- 2,803
- Cash from Investing
- -2,493
- Cash from Financing
- -278
- 32
- Free Cash Flow
- 1,422
- OCF / Net Profit
- 3.04
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 3.04
- Cumulative 5-Year FCF
- 0
- 2,334
- Cash from Investing
- -1,231
- Cash from Financing
- -1,123
- -20
- Free Cash Flow
- 1,006
- OCF / Net Profit
- 2.62
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.62
- Cumulative 5-Year FCF
- 0
- 3,469
- Cash from Investing
- -1,096
- Cash from Financing
- -2,408
- -35
- Free Cash Flow
- 2,264
- OCF / Net Profit
- 2.80
- Cumulative 5-Year FCF
- 0
- OCF / Net Profit
- 2.80
- Cumulative 5-Year FCF
- 0
- 2,670
- Cash from Investing
- -595
- Cash from Financing
- -2,059
- 16
- Free Cash Flow
- 1,477
- OCF / Net Profit
- 2.02
- Cumulative 5-Year FCF
- 5,681
- OCF / Net Profit
- 2.02
- Cumulative 5-Year FCF
- 5,681
- 2,981
- Cash from Investing
- -2,512
- Cash from Financing
- -402
- 66
- Free Cash Flow
- 1,421
- OCF / Net Profit
- 7.28
- Cumulative 5-Year FCF
- 7,590
- OCF / Net Profit
- 7.28
- Cumulative 5-Year FCF
- 7,590
- 3,118
- Cash from Investing
- -2,137
- Cash from Financing
- -1,004
- -24
- Free Cash Flow
- 1,210
- OCF / Net Profit
- 1.48
- Cumulative 5-Year FCF
- 7,378
- OCF / Net Profit
- 1.48
- Cumulative 5-Year FCF
- 7,378
- 3,414
- Cash from Investing
- -3,187
- Cash from Financing
- -101
- 126
- Free Cash Flow
- 1,745
- OCF / Net Profit
- 1.90
- Cumulative 5-Year FCF
- 8,117
- OCF / Net Profit
- 1.90
- Cumulative 5-Year FCF
- 8,117
- 4,278
- Cash from Investing
- -2,880
- Cash from Financing
- -1,438
- -41
- Free Cash Flow
- 4,278
- OCF / Net Profit
- 1.50
- Cumulative 5-Year FCF
- 10,131
- OCF / Net Profit
- 1.50
- Cumulative 5-Year FCF
- 10,131
- 4,694
- Cash from Investing
- -4,762
- Cash from Financing
- 411
- 343
- Free Cash Flow
- 3,225
- OCF / Net Profit
- 1.82
- Cumulative 5-Year FCF
- 11,879
- OCF / Net Profit
- 1.82
- Cumulative 5-Year FCF
- 11,879
Ratios
Standalone Figures in Rs. Crores / View Consolidated
| Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | |
|---|---|---|---|---|---|---|---|---|---|---|
| PER SHARE | - | - | - | - | - | - | - | - | - | - |
| EPS (₹) | 9.00 | 19.18 | 18.50 | 25.76 | 27.57 | 8.52 | 43.77 | 37.41 | 56.58 | 51.10 |
| Book Value (₹) | 139.93 | 160.06 | 185.94 | 191.15 | 213.29 | 207.36 | 229.28 | 250.48 | 346.42 | 378.40 |
| Dividend per Share (₹) | 2.20 | 5.00 | 5.00 | 11.60 | 11.00 | 9.00 | 26.00 | 16.00 | 19.00 | 20.00 |
| Cash EPS (₹) | 29.58 | 42.30 | 42.70 | 51.36 | 52.12 | 34.20 | 65.80 | 60.78 | 77.86 | 73.66 |
| PROFITABILITY | - | - | - | - | - | - | - | - | - | - |
| Operating Margin % | 26.30% | 29.05% | 25.46% | 27.29% | 29.57% | 26.46% | 24.73% | 18.82% | 19.77% | 20.27% |
| Net Margin % | 4.34% | 8.05% | 6.85% | 9.21% | 11.25% | 2.99% | 11.17% | 9.01% | 13.01% | 11.79% |
| ROE % | 6.56% | 12.79% | 10.69% | 13.66% | 13.63% | 4.05% | 20.05% | 15.60% | 19.33% | 14.10% |
| ROCE % | 10.78% | 13.72% | 12.24% | 8.09% | 13.19% | 6.22% | 19.33% | 15.69% | 17.44% | 15.82% |
| 2.16% | 4.32% | 3.87% | 5.30% | 5.80% | 1.77% | 8.48% | 6.52% | 9.37% | 7.63% | |
| EFFICIENCY | - | - | - | - | - | - | - | - | - | - |
| Debtor Days | 37 | 33 | 32 | 32 | 38 | 35 | 28 | 28 | 27 | 28 |
| Inventory Days | 14 | 13 | 15 | 17 | 15 | 11 | 10 | 12 | 10 | 9 |
| Payable Days | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| 51 | 46 | 47 | 49 | 53 | 46 | 38 | 40 | 38 | 37 | |
| FINANCIAL HEALTH | - | - | - | - | - | - | - | - | - | - |
| Debt to Equity (x) | 1.29x | 1.20x | 1.02x | 0.90x | 0.70x | 0.79x | 0.76x | 0.81x | 0.36x | 0.43x |
| Interest Coverage (x) | 1.56x | 2.64x | 2.40x | 1.61x | 3.20x | 1.88x | 5.39x | 4.13x | 4.55x | 5.82x |
| 1.20x | 1.57x | 1.09x | 0.99x | 0.94x | 0.98x | 1.06x | 1.14x | 1.36x | 1.11x | |
| GROWTH | - | - | - | - | - | - | - | - | - | - |
| Revenue Growth % | -14.67% | 15.30% | 13.45% | 3.58% | -12.39% | 16.47% | 37.33% | 5.95% | 9.80% | -0.29% |
| Operating Profit Growth % | -20.51% | 26.96% | -0.69% | 11.03% | -5.07% | 4.24% | 28.34% | -6.60% | 15.93% | 2.74% |
| Net Profit Growth % | -51.91% | 113.19% | -3.53% | 39.24% | 7.01% | -69.08% | 413.47% | -14.53% | 58.56% | -9.68% |
| 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | -14.53% | 51.24% | -9.68% | |
| VALUATION | - | - | - | - | - | - | - | - | - | - |
| P/E (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 36.21x | 26.29x | 25.56x |
| P/B (x) | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 5.41x | 4.29x | 3.45x |
| Dividend Yield % | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 1.18% | 1.28% | 1.53% |
| 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 17.12x | 16.06x | 14.18x |
- EPS (₹)
- 9.00
- Book Value (₹)
- 139.93
- Dividend per Share (₹)
- 2.20
- Cash EPS (₹)
- 29.58
- Operating Margin %
- 26.30%
- Net Margin %
- 4.34%
- ROE %
- 6.56%
- ROCE %
- 10.78%
- 2.16%
- Debtor Days
- 37
- Inventory Days
- 14
- Payable Days
- 0
- 51
- Debt to Equity (x)
- 1.29x
- Interest Coverage (x)
- 1.56x
- 1.20x
- Revenue Growth %
- -14.67%
- Operating Profit Growth %
- -20.51%
- Net Profit Growth %
- -51.91%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 19.18
- Book Value (₹)
- 160.06
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 42.30
- Operating Margin %
- 29.05%
- Net Margin %
- 8.05%
- ROE %
- 12.79%
- ROCE %
- 13.72%
- 4.32%
- Debtor Days
- 33
- Inventory Days
- 13
- Payable Days
- 0
- 46
- Debt to Equity (x)
- 1.20x
- Interest Coverage (x)
- 2.64x
- 1.57x
- Revenue Growth %
- 15.30%
- Operating Profit Growth %
- 26.96%
- Net Profit Growth %
- 113.19%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 18.50
- Book Value (₹)
- 185.94
- Dividend per Share (₹)
- 5.00
- Cash EPS (₹)
- 42.70
- Operating Margin %
- 25.46%
- Net Margin %
- 6.85%
- ROE %
- 10.69%
- ROCE %
- 12.24%
- 3.87%
- Debtor Days
- 32
- Inventory Days
- 15
- Payable Days
- 0
- 47
- Debt to Equity (x)
- 1.02x
- Interest Coverage (x)
- 2.40x
- 1.09x
- Revenue Growth %
- 13.45%
- Operating Profit Growth %
- -0.69%
- Net Profit Growth %
- -3.53%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 25.76
- Book Value (₹)
- 191.15
- Dividend per Share (₹)
- 11.60
- Cash EPS (₹)
- 51.36
- Operating Margin %
- 27.29%
- Net Margin %
- 9.21%
- ROE %
- 13.66%
- ROCE %
- 8.09%
- 5.30%
- Debtor Days
- 32
- Inventory Days
- 17
- Payable Days
- 0
- 49
- Debt to Equity (x)
- 0.90x
- Interest Coverage (x)
- 1.61x
- 0.99x
- Revenue Growth %
- 3.58%
- Operating Profit Growth %
- 11.03%
- Net Profit Growth %
- 39.24%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 27.57
- Book Value (₹)
- 213.29
- Dividend per Share (₹)
- 11.00
- Cash EPS (₹)
- 52.12
- Operating Margin %
- 29.57%
- Net Margin %
- 11.25%
- ROE %
- 13.63%
- ROCE %
- 13.19%
- 5.80%
- Debtor Days
- 38
- Inventory Days
- 15
- Payable Days
- 0
- 53
- Debt to Equity (x)
- 0.70x
- Interest Coverage (x)
- 3.20x
- 0.94x
- Revenue Growth %
- -12.39%
- Operating Profit Growth %
- -5.07%
- Net Profit Growth %
- 7.01%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 8.52
- Book Value (₹)
- 207.36
- Dividend per Share (₹)
- 9.00
- Cash EPS (₹)
- 34.20
- Operating Margin %
- 26.46%
- Net Margin %
- 2.99%
- ROE %
- 4.05%
- ROCE %
- 6.22%
- 1.77%
- Debtor Days
- 35
- Inventory Days
- 11
- Payable Days
- 0
- 46
- Debt to Equity (x)
- 0.79x
- Interest Coverage (x)
- 1.88x
- 0.98x
- Revenue Growth %
- 16.47%
- Operating Profit Growth %
- 4.24%
- Net Profit Growth %
- -69.08%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 43.77
- Book Value (₹)
- 229.28
- Dividend per Share (₹)
- 26.00
- Cash EPS (₹)
- 65.80
- Operating Margin %
- 24.73%
- Net Margin %
- 11.17%
- ROE %
- 20.05%
- ROCE %
- 19.33%
- 8.48%
- Debtor Days
- 28
- Inventory Days
- 10
- Payable Days
- 0
- 38
- Debt to Equity (x)
- 0.76x
- Interest Coverage (x)
- 5.39x
- 1.06x
- Revenue Growth %
- 37.33%
- Operating Profit Growth %
- 28.34%
- Net Profit Growth %
- 413.47%
- 0.00%
- P/E (x)
- 0.00x
- P/B (x)
- 0.00x
- Dividend Yield %
- 0.00%
- 0.00x
- EPS (₹)
- 37.41
- Book Value (₹)
- 250.48
- Dividend per Share (₹)
- 16.00
- Cash EPS (₹)
- 60.78
- Operating Margin %
- 18.82%
- Net Margin %
- 9.01%
- ROE %
- 15.60%
- ROCE %
- 15.69%
- 6.52%
- Debtor Days
- 28
- Inventory Days
- 12
- Payable Days
- 0
- 40
- Debt to Equity (x)
- 0.81x
- Interest Coverage (x)
- 4.13x
- 1.14x
- Revenue Growth %
- 5.95%
- Operating Profit Growth %
- -6.60%
- Net Profit Growth %
- -14.53%
- -14.53%
- P/E (x)
- 36.21x
- P/B (x)
- 5.41x
- Dividend Yield %
- 1.18%
- 17.12x
- EPS (₹)
- 56.58
- Book Value (₹)
- 346.42
- Dividend per Share (₹)
- 19.00
- Cash EPS (₹)
- 77.86
- Operating Margin %
- 19.77%
- Net Margin %
- 13.01%
- ROE %
- 19.33%
- ROCE %
- 17.44%
- 9.37%
- Debtor Days
- 27
- Inventory Days
- 10
- Payable Days
- 0
- 38
- Debt to Equity (x)
- 0.36x
- Interest Coverage (x)
- 4.55x
- 1.36x
- Revenue Growth %
- 9.80%
- Operating Profit Growth %
- 15.93%
- Net Profit Growth %
- 58.56%
- 51.24%
- P/E (x)
- 26.29x
- P/B (x)
- 4.29x
- Dividend Yield %
- 1.28%
- 16.06x
- EPS (₹)
- 51.10
- Book Value (₹)
- 378.40
- Dividend per Share (₹)
- 20.00
- Cash EPS (₹)
- 73.66
- Operating Margin %
- 20.27%
- Net Margin %
- 11.79%
- ROE %
- 14.10%
- ROCE %
- 15.82%
- 7.63%
- Debtor Days
- 28
- Inventory Days
- 9
- Payable Days
- 0
- 37
- Debt to Equity (x)
- 0.43x
- Interest Coverage (x)
- 5.82x
- 1.11x
- Revenue Growth %
- -0.29%
- Operating Profit Growth %
- 2.74%
- Net Profit Growth %
- -9.68%
- -9.68%
- P/E (x)
- 25.56x
- P/B (x)
- 3.45x
- Dividend Yield %
- 1.53%
- 14.18x
Documents
Announcements
- Resignation of Director/KMP/SMP
2026-08-20 - Torrent Power Limited has informed the Exchange about Resignation of Director/KMP/SMP
- Resignation of Director/KMP/SMP
2026-08-20 - Torrent Power Limited has informed the Exchange about Resignation of Director/KMP/SMP
Annual Reports
Nothing filed yet.
Credit Ratings
- Credit Rating
2026-04-23 - Torrent Power Limited has informed the Exchange about Credit Rating
- Credit Rating
2026-04-16 - Torrent Power Limited has informed the Exchange about Credit Rating
- Credit Rating
2026-02-24 - Torrent Power Limited has informed the Exchange about Credit Rating
Concalls
Aug 2026
May 2026
Feb 2026

