Torrent Power Ltd
NSE: TORNTPOWER BSE: 532779Energy
Torrent Power Ltd is a leading integrated power utility company in India with presence across generation, transmission and distribution of power. Its operations are spread across the states of Gujarat, Maharashtra, Uttar Pradesh and Karnataka.[1]
₹1,520
52W: ₹1188 — ₹1824
PE 29.8 · Book ₹378 · +302% vs bookMarket Cap₹76,593 Cr
Stock P/E29.8Price to Earnings
ROCE15.8%Return on Capital
ROE14.1%Return on Equity
Div. Yield1.26%Face Value ₹10
Strengths
- +Company has been maintaining a healthy dividend payout of 38.5%
Shareholding Pattern
Promoters51.09%
FIIs8.4%
DIIs22.82%
Public9.33%
| Category | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|
| Promoters | 53.56% | 53.56% | 51.09%▼2.5 | 51.09% | 51.09% | 51.09% | 51.09% | 51.09% |
| FIIs | 8.43% | 8.88%▲0.5 | 9.93%▲1.0 | 9.43%▼0.5 | 9.79%▲0.4 | 8.82%▼1.0 | 8.32%▼0.5 | 8.4%▲0.1 |
| DIIs | 19.53% | 19.03%▼0.5 | 21.21%▲2.2 | 21.9%▲0.7 | 21.41%▼0.5 | 22.16%▲0.8 | 22.74%▲0.6 | 22.82%▲0.1 |
| Public | 17.02% | 9.77%▼7.3 | 9.42%▼0.3 | 9.25%▼0.2 | 9.35%▲0.1 | 9.6%▲0.3 | 9.51%▼0.1 | 9.33%▼0.2 |
Financial Statements
| Metric | Dec 2023 | Mar 2024 | Jun 2024 | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 4,681 | 4,787 | 7,186 | 5,288 | 4,746 | 4,692 | 6,167 | 6,106 | 5,097 | 4,480 |
| Expenses | 3,777 | 3,830 | 5,614 | 4,353 | 3,823 | 3,765 | 4,996 | 4,900 | 3,908 | 3,549 |
| Operating Profit | 904 | 956 | 1,572 | 934 | 923 | 928 | 1,171 | 1,206 | 1,189 | 931 |
| OPM % | 19% | 20% | 22% | 18% | 19% | 20% | 19% | 20% | 23% | 21% |
| Net Profit | 384 | 444 | 928 | 464 | 369 | 1,090 | 685 | 746 | 712 | 432 |
| EPS ₹ | 7.98 | 9.23 | 19.32 | 9.66 | 7.32 | 21.63 | 13.59 | 14.81 | 14.13 | 8.57 |
AI Insights
Revenue Trend
Mar 2026 revenue at ₹21,850Cr, down 0.3% YoY. OPM at 21%.
Debt Position
Borrowings at ₹8,311Cr. Debt-to-equity ratio: 0.45x. Healthy balance sheet.
Capex Cycle
CWIP at ₹954Cr (6% of fixed assets). Moderate ongoing capital expenditure.
Institutional Flow
DIIs: 22.82% (+1.14pp change). FIIs: 8.4% (+2.36pp change). Promoters hold 51.09%.
Margin & Efficiency
ROCE improving from 15% (Mar 2015) to 16% (Mar 2026). Working capital days: 1.
Valuation
PE 29.8x with 15.8% ROCE. Price is 302% above book value of ₹378. Dividend yield: 1.26%.
Recent Announcements
- Announcement under Regulation 30 (LODR)-Earnings Call Transcript 2d - Transcript of Earnings Conference Call for quarter and year ended March 31, 2026
- Audio Recording Of Earnings Conference Call With Analysts / Investors On Audited Financial Results For The Quarter And Year Ended March 31, 2026 13 May - Audio recording of earnings conference call for FY26 audited Q4 and annual results uploaded on website.
- Announcement under Regulation 30 (LODR)-Investor Presentation 12 May
- Announcement under Regulation 30 (LODR)-Change in Directorate 12 May - Torrent Power approved FY26 results, ₹5 final dividend, ₹10,000 crore NCD issuance, and director reappointments.
- Announcement under Regulation 30 (LODR)-Raising of Funds 12 May - Torrent Power approved FY26 audited results, ₹5 final dividend, and up to ₹10,000 crore NCD issuance.
- Financial Year 2025 from bse
- Financial Year 2024 from bse
- Financial Year 2023 from bse