Tata Power

₹444.7 22.3 | 5.3%

WEBSITE BSE:500400 NSE : TATA POWER 26 Jul, 16:01

Market Cap ₹142081 Cr.

Stock P/E 38.4

P/B 4.4

Current Price ₹444.7

Book Value ₹ 101.2

Face Value 1

52W High ₹464.3

Dividend Yield 0.45%

52W Low ₹ 220

Edit Ratio

Tata Power Research see more...

Tata Power Company Limited

Overview Inc. Year: 1919Industry: Power Generation/Distribution

The Tata Power Company Limited is an India-based incorporated power business enterprise. The Company is engaged in electric powered electricity generation, transmission and distribution, electronic products, and provider agencies. The Company's segments are Transmission,Generation, Renewables and Distribution, and Others. The Generation section contains of generation of energy from hydroelectric assets and thermal sources (coal, gas, and oil) from plant owned and operated underneath rent arrangements and related ancillary offerings. The Renewables section incorporates generation of power from renewable energy resources i.e. wind and solar and related ancillary services. The Transmission and Distribution segment contains of transmission and distribution network, sale of power to retail customers through distribution community and related ancillary services. The Others section comprises of task control contracts/infrastructure control offerings,property improvement and lease rent of oil tanks.

Tata Power Share Price

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Peer Comparison

Tata Power Quarterly Results

#(Fig in Cr.)	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Net Sales	10913	11960	14495	14031	14129	12454	15213	15738	14651	15847
Other Income	106	259	143	150	273	872	271	292	643	617
Total Income	11019	12219	14639	14181	14402	13325	15485	16030	15294	16464
Total Expenditure	9178	9966	12532	12138	11584	10224	12480	12943	12044	13105
Operating Profit	1841	2253	2107	2043	2818	3101	3005	3087	3250	3358
Interest	953	1015	1026	1052	1098	1196	1221	1182	1094	1136
Depreciation	758	846	822	838	853	926	893	926	926	1041
Exceptional Income / Expenses	0	-150	0	0	0	0	235	0	0	39
Profit Before Tax	130	243	259	153	866	979	1125	979	1230	1221
Provision for Tax	237	-562	179	438	812	219	335	213	413	491
Profit After Tax	-106	804	81	-284	54	760	790	766	817	729
Adjustments	532	-301	714	1103	891	18	182	110	136	166
Profit After Adjustments	426	503	795	819	945	778	972	876	953	895
Adjusted Earnings Per Share	1.3	1.6	2.5	2.6	3	2.4	3	2.7	3	2.8

Tata Power Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	35718	33593	29494	27588	26840	29881	29136	32703	42816	55109	61449	61449
Other Income	258	439	754	696	434	419	586	439	966	1468	1824	1823
Total Income	35976	34032	30248	28283	27274	30300	29722	33143	43782	56577	63273	63273
Total Expenditure	28831	27314	23010	21789	20568	23168	21216	25701	35346	47433	50665	50572
Operating Profit	7145	6718	7238	6495	6706	7131	8506	7442	8436	9145	12607	12700
Interest	3440	3699	3236	3365	3761	4170	4495	4010	3864	4372	4633	4633
Depreciation	2730	2174	1649	1956	2346	2393	2634	2745	3122	3439	3786	3786
Exceptional Income / Expenses	0	639	-1073	-953	693	1849	37	427	-390	924	367	274
Profit Before Tax	975	1484	1281	1447	2845	3819	2368	1987	3003	5457	5732	4555
Provision for Tax	1008	1075	680	350	162	1088	641	502	380	1647	1452	1452
Profit After Tax	-33	409	600	1097	2683	2732	1727	1485	2623	3810	4280	3102
Adjustments	-227	-242	62	-200	-274	-375	-709	-357	-882	-473	-584	594
Profit After Adjustments	-260	168	662	897	2408	2356	1017	1127	1741	3336	3696	3696
Adjusted Earnings Per Share	-1.1	0.6	2.4	3.3	8.9	8.7	3.8	3.5	5.5	10.4	11.6	11.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	12%	23%	16%	6%
Operating Profit CAGR	38%	19%	12%	6%
PAT CAGR	12%	42%	9%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	101%	54%	48%	16%
ROE Average	14%	14%	12%	10%
ROCE Average	13%	12%	11%	10%

Tata Power Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	12401	14319	11633	13215	14900	16806	18066	20822	22442	28787	32355
Minority's Interest	2273	2493	1750	1869	2015	2167	2332	2927	3587	5417	5977
Borrowings	31970	33893	23914	26643	23856	32639	34195	31545	32730	30708	37392
Other Non-Current Liabilities	3012	3391	6669	5599	3212	3888	7497	11965	14424	17855	21361
Total Current Liabilities	21727	21090	26091	35504	37005	27581	26521	31256	39255	45215	41854
Total Liabilities	71383	75185	70057	82829	81892	84073	89674	98655	112550	128096	139054
Fixed Assets	43394	44726	36414	46592	44656	44305	47666	52179	57389	61747	67210
Other Non-Current Assets	14629	15561	23859	16411	16560	18713	18253	20866	23718	26824	35081
Total Current Assets	13361	14899	8662	17906	15896	15953	17502	22562	28396	36225	35563
Total Assets	71383	75185	70057	82829	81892	84073	89674	98655	112550	128096	139054

Tata Power Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	1790	1385	813	294	819	945	62	1834	3570	2829	4072
Cash Flow from Operating Activities	6483	5981	7415	7014	6364	4574	7375	8345	6693	7166	12596
Cash Flow from Investing Activities	-3742	-3875	-1818	-7419	-1518	-319	-543	668	-6277	-7382	-9035
Cash Flow from Financing Activities	-3265	-2239	-6183	937	-4726	-5184	-5110	-7603	-1183	1341	-4497
Net Cash Inflow / Outflow	-524	-133	-586	533	120	-930	1723	1410	-767	1125	-936
Closing Cash & Cash Equivalent	1398	1262	240	819	945	62	1834	3570	2829	4072	3144

Tata Power Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	-1.1	0.62	2.45	3.32	8.91	8.71	3.76	3.53	5.45	10.44	11.57
CEPS(Rs)	11.37	9.55	8.32	11.29	18.59	18.95	16.12	13.24	17.98	22.69	25.25
DPS(Rs)	1.25	1.3	1.3	1.3	1.3	1.3	1.55	1.55	1.75	2	2
Book NAV/Share(Rs)	46.73	47.81	43.02	48.86	55.09	62.14	66.8	65.17	70.24	90.1	101.24
Core EBITDA Margin(%)	19.27	18.69	21.98	21.02	23.37	22.46	27.18	21.41	17.45	13.93	17.55
EBIT Margin(%)	12.35	15.43	15.31	17.44	24.61	26.74	23.55	18.34	16.04	17.84	16.87
Pre Tax Margin(%)	2.73	4.42	4.34	5.25	10.6	12.78	8.13	6.08	7.01	9.9	9.33
PAT Margin (%)	-0.09	1.22	2.04	3.97	9.99	9.14	5.93	4.54	6.13	6.91	6.97
Cash Profit Margin (%)	7.54	7.69	7.62	11.06	18.74	17.15	14.96	12.93	13.42	13.15	13.13
ROA(%)	-0.05	0.56	0.83	1.43	3.26	3.29	1.99	1.58	2.48	3.17	3.2
ROE(%)	-0.27	3.12	4.67	8.83	19.08	17.23	9.9	7.64	12.13	14.87	14
ROCE(%)	8.36	9.42	8.35	8.33	10.28	12.12	10.19	8.99	10.13	13.3	12.99
Receivable days	40.07	54.9	56.32	48.77	45.02	44.18	55.57	53.72	47.65	42.83	42.63
Inventory Days	20.94	21.28	19.9	19.67	21.91	20.34	21.66	20.3	26.07	27.07	24.84
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	0	124.23	26.4	27.3	8.91	8.47	8.73	29.25	43.82	18.21	34.07
Price/Book(x)	1.65	1.48	1.5	1.85	1.44	1.19	0.49	1.58	3.4	2.11	3.89
Dividend Yield(%)	1.47	1.69	2.01	1.44	1.64	1.76	4.72	1.5	0.73	1.05	0.51
EV/Net Sales(x)	1.69	1.83	1.94	2.68	2.62	2.32	1.94	2.19	2.74	1.79	2.71
EV/Core EBITDA(x)	8.43	9.15	7.9	11.37	10.49	9.7	6.66	9.64	13.9	10.78	13.19
Net Sales Growth(%)	8.15	-5.95	-12.2	-6.46	-2.71	11.33	-2.49	12.24	30.92	28.71	11.5
EBIT Growth(%)	12.67	17.4	-12.86	6.54	37.28	20.94	-14.1	-12.61	14.51	43.13	5.46
PAT Growth(%)	-133.74	1329.15	46.64	82.64	144.63	1.82	-36.79	-14	76.68	45.22	12.35
EPS Growth(%)	-215.37	156.63	294.59	35.38	168.61	-2.16	-56.82	-6.2	54.47	91.59	10.78
Debt/Equity(x)	3.42	2.99	3.47	3.81	3.36	2.98	2.76	2.15	2.12	1.7	1.53
Current Ratio(x)	0.61	0.71	0.33	0.5	0.43	0.58	0.66	0.72	0.72	0.8	0.85
Quick Ratio(x)	0.52	0.62	0.28	0.46	0.39	0.52	0.59	0.66	0.62	0.71	0.74
Interest Cover(x)	1.28	1.4	1.4	1.43	1.76	1.92	1.53	1.5	1.78	2.25	2.24
Total Debt/Mcap(x)	1.82	2.02	2.31	2.06	2.33	2.51	5.61	1.35	0.62	0.81	0.39

Tata Power Shareholding Pattern

#	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoter	46.86	46.86	46.86	46.86	46.86	46.86	46.86	46.86	46.86	46.86
FII	10.82	10.1	10.28	9.63	9.45	9.75	10	9.85	9.44	9.5
DII	16.2	15.02	14.52	14.64	14.48	14.91	16.01	16.43	15.79	15.82
Public	26.11	28.01	28.33	28.86	29.2	28.47	27.12	26.86	27.9	27.81
Others	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01	0.01
Total	100	100	100	100	100	100	100	100	100	100

#	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoter	149.73	149.73	149.73	149.73	149.73	149.73	149.73	149.73	149.73	149.73
FII	34.58	32.27	32.86	30.77	30.2	31.16	31.96	31.47	30.17	30.37
DII	51.77	47.99	46.39	46.8	46.27	47.65	51.14	52.49	50.46	50.54
Public	83.42	89.51	90.53	92.2	93.31	90.97	86.67	85.81	89.15	88.87
Others	0.04	0.04	0.04	0.04	0.03	0.03	0.03	0.03	0.03	0.03
Total	319.53	319.53	319.53	319.53	319.53	319.53	319.53	319.53	319.53	319.53

Pros

Cons

Promoter holding is low: 46.86%.
Company has a low return on equity of 14% over the last 3 years.
Stock is trading at 4.4 times its book value.
The company has delivered a poor profit growth of 9% over past five years.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.