Torrent Power

₹1408.1 -18.1 | 1.3%

WEBSITE BSE:532779 NSE : TORNT POWER 11 Jul, 15:55

Market Cap ₹70955 Cr.

Stock P/E 23.2

P/B 4

Current Price ₹1408.1

Book Value ₹ 349.6

Face Value 10

52W High ₹2037.4

Dividend Yield 1.35%

52W Low ₹ 1207.2

Edit Ratio

Torrent Power Research see more...

Overview Inc. Year: 2004Industry: Power Generation/Distribution

Torrent Power Ltd is an India-based holding company. The Company is an incorporated application engaged in the business of power technology, transmission and distribution with operations within the states of Gujarat, Maharashtra, Uttar Pradesh and Karnataka. It is also engaged in the enterprise of cables manufacturing with operations inside the state of Gujarat. The Company's segments comprises Generation, Transmission and Distribution of Power. Its aggregate operational producing ability of 3,879 MW with a combination of coal-based totally, gas-primarily based, solar and wind power plants. It is centred on Renewable Business and growing electricity supply infrastructure at Dholera SIR and streamlining operations at franchised place of Shil, Mumbra and Kalwa.

Torrent Power Share Price

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Peer Comparison

Torrent Power Quarterly Results

#(Fig in Cr.)	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Net Sales	6443	6038	7328	6961	6366	6529	9034	7176	6499	6456
Other Income	84	96	86	108	54	97	76	125	172	114
Total Income	6526	6134	7413	7069	6420	6625	9110	7301	6671	6571
Total Expenditure	4999	4947	6143	5740	5322	5420	7176	5969	5388	5326
Operating Profit	1527	1186	1270	1330	1098	1206	1934	1332	1284	1245
Interest	228	189	227	247	235	233	260	272	276	236
Depreciation	322	329	332	342	349	355	359	371	378	389
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	977	668	711	741	513	617	1315	689	630	619
Provision for Tax	283	184	179	198	139	170	318	193	141	-458
Profit After Tax	695	484	532	543	374	447	996	496	489	1077
Adjustments	-10	-35	-15	-17	-14	-17	-24	-15	-14	-18
Profit After Adjustments	685	449	517	526	360	430	972	481	476	1060
Adjusted Earnings Per Share	14.2	9.3	10.8	10.9	7.5	9	20.2	10	9.4	21

Torrent Power Profit & Loss

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	TTM
Net Sales	10396	11680	9960	11502	13151	13641	12173	14258	25694	27183	29165	29165
Other Income	366	282	191	264	199	197	142	325	406	470	507	487
Total Income	10762	11962	10151	11766	13350	13837	12314	14583	26100	27653	29672	29653
Total Expenditure	8316	8619	7500	8385	9961	10104	8707	10757	20959	22750	23878	23859
Operating Profit	2446	3344	2651	3381	3389	3734	3607	3826	5141	4904	5795	5795
Interest	962	1131	1058	848	899	955	776	628	818	943	1045	1044
Depreciation	721	916	1006	1132	1227	1304	1280	1334	1281	1378	1497	1497
Exceptional Income / Expenses	-23	-7	0	0	0	-1000	0	-1300	0	0	0	0
Profit Before Tax	740	1290	587	1401	1264	475	1552	564	3041	2583	3253	3253
Provision for Tax	378	387	158	449	360	-704	256	105	877	687	194	194
Profit After Tax	363	902	430	952	904	1179	1296	459	2165	1896	3059	3058
Adjustments	-3	-2	-1	-10	-5	-5	-5	-5	-47	-63	-70	-71
Profit After Adjustments	360	900	429	942	899	1174	1291	454	2117	1833	2989	2989
Adjusted Earnings Per Share	7.6	18.7	8.9	19.6	18.7	24.4	26.9	9.4	44.1	38.1	59.3	60.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	7%	27%	16%	11%
Operating Profit CAGR	18%	15%	9%	9%
PAT CAGR	61%	88%	21%	24%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-8%	42%	34%	25%
ROE Average	21%	19%	15%	13%
ROCE Average	17%	17%	14%	13%

Torrent Power Balance Sheet

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Shareholder's Funds	6556	6470	6892	7720	8970	9154	10184	9943	11010	12062	17615
Minority's Interest	31	30	29	36	37	36	36	36	477	536	600
Borrowings	8256	8198	8193	8564	8576	7796	6672	7099	8902	9916	7310
Other Non-Current Liabilities	2016	3147	3175	3492	2779	1808	1812	1762	2553	2999	3343
Total Current Liabilities	2774	1765	2503	2778	4187	4809	4810	6148	6930	7813	7589
Total Liabilities	19632	19612	20793	22589	24550	23603	23514	24988	29872	33326	36459
Fixed Assets	15088	15139	16803	17871	18014	17569	17326	17097	19260	21802	24286
Other Non-Current Assets	398	1122	811	1288	1796	1210	1544	2665	3159	3017	3553
Total Current Assets	4146	3351	3019	3430	4585	4824	4644	5226	7453	8506	8620
Total Assets	19632	19612	20793	22589	24550	23603	23514	24988	29872	33326	36459

Torrent Power Cash Flow

#(Fig in Cr.)	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Opening Cash & Cash Equivalents	1679	1570	543	103	137	116	91	107	289	188	351
Cash Flow from Operating Activities	2251	2550	2356	2764	2425	3610	2988	3167	3456	4258	4805
Cash Flow from Investing Activities	-1158	-911	-2122	-2418	-1828	-1129	-910	-2483	-3216	-3544	-3642
Cash Flow from Financing Activities	-1206	-2163	-674	-311	-617	-2506	-2061	-502	-341	-551	-1216
Net Cash Inflow / Outflow	-112	-523	-440	34	-20	-25	16	182	-101	163	-53
Closing Cash & Cash Equivalent	1567	1047	103	137	116	91	107	289	188	351	289

Torrent Power Ratios

#	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025
Earnings Per Share (Rs)	7.61	18.73	8.92	19.61	18.7	24.43	26.86	9.45	44.06	38.14	59.31
CEPS(Rs)	22.93	37.83	29.87	43.35	44.33	51.67	53.59	37.3	71.69	68.11	90.41
DPS(Rs)	1.5	4.5	2.2	5	5	11.6	11	9	26	16	19
Book NAV/Share(Rs)	138.76	134.63	140.09	160.62	183.4	190.45	211.9	206.88	229.08	250.96	349.58
Core EBITDA Margin(%)	20.01	26.13	24.6	27.08	24.26	25.93	28.47	24.56	18.43	16.31	18.13
EBIT Margin(%)	16.38	20.66	16.45	19.54	16.44	10.48	19.12	8.36	15.02	12.97	14.73
Pre Tax Margin(%)	7.12	11.01	5.87	12.17	9.61	3.48	12.75	3.96	11.84	9.5	11.15
PAT Margin (%)	3.49	7.7	4.3	8.27	6.87	8.64	10.65	3.22	8.42	6.97	10.49
Cash Profit Margin (%)	10.42	15.52	14.36	18.1	16.2	18.2	21.16	12.57	13.41	12.04	15.62
ROA(%)	1.87	4.6	2.13	4.39	3.83	4.9	5.5	1.89	7.89	6	8.77
ROE(%)	5.68	13.85	6.51	13.18	10.93	13.12	13.4	4.56	20.66	16.44	20.61
ROCE(%)	10.78	15.67	10.79	13.83	12.17	7.82	12.93	6.44	19.04	15.62	17.19
Receivable days	29.77	30.37	37.08	33.38	32.75	33.57	40.48	38.69	27.34	29.79	28.49
Inventory Days	9.65	10.59	14.41	13.07	15.01	16.39	15.72	12.65	9.64	10.88	9.13
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	21.41	12.29	26.03	11.69	13.75	11.42	15.78	52.08	11.56	35.52	25.08
Price/Book(x)	1.17	1.71	1.66	1.43	1.4	1.46	2	2.38	2.22	5.4	4.25
Dividend Yield(%)	0.92	1.96	0.95	2.18	1.94	4.16	2.6	1.83	5.1	1.18	1.28
EV/Net Sales(x)	1.47	1.61	1.97	1.74	1.65	1.61	2.3	2.27	1.35	2.81	2.86
EV/Core EBITDA(x)	6.25	5.62	7.42	5.91	6.42	5.89	7.75	8.47	6.74	15.56	14.38
Net Sales Growth(%)	19.75	12.36	-14.73	15.49	14.33	3.72	-10.76	17.13	80.21	5.8	7.29
EBIT Growth(%)	73.83	42.16	-32.02	36.7	-3.85	-33.9	62.83	-48.78	223.74	-8.64	21.88
PAT Growth(%)	236.12	148.78	-52.36	121.53	-5.07	30.43	9.92	-64.6	371.91	-12.41	61.32
EPS Growth(%)	241.71	146.02	-52.35	119.68	-4.6	30.61	9.95	-64.83	366.42	-13.42	55.49
Debt/Equity(x)	1.43	1.32	1.3	1.2	1.1	0.97	0.76	0.92	0.95	0.96	0.5
Current Ratio(x)	1.49	1.9	1.21	1.24	1.1	1	0.97	0.85	1.08	1.09	1.14
Quick Ratio(x)	1.41	1.69	1.07	1.08	0.95	0.88	0.87	0.76	0.96	0.99	1.05
Interest Cover(x)	1.77	2.14	1.56	2.65	2.41	1.5	3	1.9	4.72	3.74	4.11
Total Debt/Mcap(x)	1.21	0.77	0.79	0.84	0.79	0.66	0.38	0.38	0.43	0.18	0.12

Torrent Power Shareholding Pattern

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	53.57	53.57	53.57	53.57	53.57	53.57	53.57	53.57	51.09	51.09
FII	6.71	6.3	6.04	6.17	6.13	6.41	8.42	8.89	9.94	9.43
DII	22.8	23.11	23.14	23.09	23.08	22.93	21	27.78	29.56	30.24
Public	16.93	17.03	17.25	17.18	17.22	17.09	17.01	9.77	9.41	9.24
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025
Promoter	25.74	25.74	25.74	25.74	25.74	25.74	25.74	25.74	25.74	25.74
FII	3.22	3.03	2.9	2.96	2.95	3.08	4.05	4.27	5.01	4.75
DII	10.96	11.11	11.12	11.1	11.09	11.02	10.09	13.35	14.9	15.24
Public	8.14	8.19	8.29	8.26	8.28	8.22	8.18	4.7	4.74	4.65
Others	0	0	0	0	0	0	0	0	0	0
Total	48.06	48.06	48.06	48.06	48.06	48.06	48.06	48.06	50.39	50.39

Pros

Company has delivered good profit growth of 21% CAGR over last 5 years
Company has reduced debt.
Company is almost debt free.

Cons

Stock is trading at 4 times its book value.

* 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.