Torrent Power

₹1315.2 -11.3 | 0.8%

WEBSITE BSE:532779 NSE : TORNT POWER 13 May, 15:56

Market Cap ₹63208 Cr.

Stock P/E 34.1

P/B 5.2

Current Price ₹1315.2

Book Value ₹ 254.4

Face Value 10

52W High ₹1633.1

Dividend Yield 1.98%

52W Low ₹ 521.7

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.)	Sep 2021	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023
Net Sales	3648	3767	3744	6510	6703	6443	6038	7328	6961	6366
Other Income	36	66	97	108	94	84	96	86	108	54
Total Income	3684	3833	3841	6619	6797	6526	6134	7413	7069	6420
Total Expenditure	2709	2833	2753	5450	5539	4999	4947	6143	5740	5322
Operating Profit	974	1000	1088	1169	1258	1527	1186	1270	1330	1098
Interest	157	157	151	186	215	228	189	227	247	235
Depreciation	332	334	340	312	319	322	329	332	342	349
Exceptional Income / Expenses	0	0	-1300	0	0	0	0	0	0	0
Profit Before Tax	485	509	-703	671	725	977	668	711	741	513
Provision for Tax	116	140	-216	169	240	283	184	179	198	139
Profit After Tax	369	369	-487	502	484	695	484	532	543	374
Adjustments	-1	-1	-1	0	-3	-10	-35	-15	-17	-14
Profit After Adjustments	367	368	-488	502	482	685	449	517	526	360
Adjusted Earnings Per Share	7.6	7.7	-10.2	10.4	10	14.2	9.3	10.8	10.9	7.5

Torrent Power Profit & Loss

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	TTM
Net Sales	8221	8681	10396	11680	9960	11502	13151	13641	12173	14258	25694	26693
Other Income	144	251	366	282	191	264	199	197	142	325	406	344
Total Income	8365	8932	10762	11962	10151	11766	13350	13837	12314	14583	26100	27036
Total Expenditure	6870	7398	8316	8619	7500	8385	9961	10104	8707	10757	20959	22152
Operating Profit	1494	1534	2446	3344	2651	3381	3389	3734	3607	3826	5141	4884
Interest	438	705	962	1131	1058	848	899	955	776	628	818	898
Depreciation	427	554	721	916	1006	1132	1227	1304	1280	1334	1281	1352
Exceptional Income / Expenses	0	0	-23	-7	0	0	0	-1000	0	-1300	0	0
Profit Before Tax	630	275	740	1290	587	1401	1264	475	1552	564	3041	2633
Provision for Tax	243	167	378	387	158	449	360	-704	256	105	877	700
Profit After Tax	387	108	363	902	430	952	904	1179	1296	459	2165	1933
Adjustments	-0	-3	-3	-2	-1	-10	-5	-5	-5	-5	-47	-81
Profit After Adjustments	387	105	360	900	429	942	899	1174	1291	454	2117	1852
Adjusted Earnings Per Share	8.2	2.2	7.6	18.7	8.9	19.6	18.7	24.4	26.9	9.4	44.1	38.5

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	80%	23%	17%	12%
Operating Profit CAGR	34%	11%	9%	13%
PAT CAGR	372%	22%	18%	19%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	147%	45%	40%	26%
ROE Average	21%	13%	13%	10%
ROCE Average	19%	13%	12%	11%

Torrent Power Balance Sheet

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Shareholder's Funds	6103	6205	6556	6470	6892	7720	8970	9154	10184	9943	11010
Minority's Interest	32	30	31	30	29	36	37	36	36	36	477
Borrowings	6017	8745	8256	8198	8193	8564	8576	7796	6672	7099	8902
Other Non-Current Liabilities	1386	1864	2016	3147	3175	3492	2779	1808	1812	1762	2553
Total Current Liabilities	3741	2282	2774	1765	2503	2778	4187	4809	4810	6148	6930
Total Liabilities	17278	19126	19632	19612	20793	22589	24550	23603	23514	24988	29872
Fixed Assets	7758	10185	15088	15139	16803	17871	18014	17569	17326	17097	19260
Other Non-Current Assets	6664	4835	398	1122	811	1288	1796	1210	1544	2665	3159
Total Current Assets	2857	4106	4146	3351	3019	3430	4585	4824	4644	5226	7453
Total Assets	17278	19126	19632	19612	20793	22589	24550	23603	23514	24988	29872

Torrent Power Cash Flow

#(Fig in Cr.)	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Opening Cash & Cash Equivalents	844	771	1679	1570	543	103	137	116	91	107	289
Cash Flow from Operating Activities	1568	1355	2251	2550	2356	2764	2425	3610	2988	3167	3456
Cash Flow from Investing Activities	-3725	-885	-1158	-911	-2122	-2418	-1828	-1129	-910	-2483	-3216
Cash Flow from Financing Activities	2090	437	-1206	-2163	-674	-311	-617	-2506	-2061	-502	-341
Net Cash Inflow / Outflow	-67	908	-112	-523	-440	34	-20	-25	16	182	-101
Closing Cash & Cash Equivalent	778	1679	1567	1047	103	137	116	91	107	289	188

Torrent Power Ratios

#	Mar 2013	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023
Earnings Per Share (Rs)	8.19	2.23	7.61	18.73	8.92	19.61	18.7	24.43	26.86	9.45	44.06
CEPS(Rs)	17.23	14.02	22.93	37.83	29.87	43.35	44.33	51.67	53.59	37.3	71.69
DPS(Rs)	3	0.5	1.5	4.5	2.2	5	5	11.6	11	9	26
Book NAV/Share(Rs)	129.18	131.34	138.76	134.63	140.09	160.62	183.4	190.45	211.9	206.88	229.08
Core EBITDA Margin(%)	16.43	14.78	20.01	26.13	24.6	27.08	24.26	25.93	28.47	24.56	18.43
EBIT Margin(%)	12.98	11.28	16.38	20.66	16.45	19.54	16.44	10.48	19.12	8.36	15.02
Pre Tax Margin(%)	7.66	3.17	7.12	11.01	5.87	12.17	9.61	3.48	12.75	3.96	11.84
PAT Margin (%)	4.71	1.24	3.49	7.7	4.3	8.27	6.87	8.64	10.65	3.22	8.42
Cash Profit Margin (%)	9.9	7.63	10.42	15.52	14.36	18.1	16.2	18.2	21.16	12.57	13.41
ROA(%)	2.48	0.59	1.87	4.6	2.13	4.39	3.83	4.9	5.5	1.89	7.89
ROE(%)	6.52	1.75	5.68	13.85	6.51	13.18	10.93	13.12	13.4	4.56	20.66
ROCE(%)	8.43	6.57	10.78	15.67	10.79	13.83	12.17	7.82	12.93	6.44	19.04
Receivable days	31.22	32.79	29.77	30.37	37.08	33.38	32.75	33.57	40.48	38.69	27.34
Inventory Days	12.09	11.24	9.65	10.59	14.41	13.07	15.01	16.39	15.72	12.65	9.64
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	17.07	42.03	21.41	12.29	26.03	11.69	13.75	11.42	15.78	52.08	11.56
Price/Book(x)	1.08	0.71	1.17	1.71	1.66	1.43	1.4	1.46	2	2.38	2.22
Dividend Yield(%)	2.15	0.53	0.92	1.96	0.95	2.18	1.94	4.16	2.6	1.83	5.1
EV/Net Sales(x)	1.65	1.42	1.47	1.61	1.97	1.74	1.65	1.61	2.3	2.27	1.35
EV/Core EBITDA(x)	9.06	8.04	6.25	5.62	7.42	5.91	6.42	5.89	7.75	8.47	6.74
Net Sales Growth(%)	3.36	5.6	19.75	12.36	-14.73	15.49	14.33	3.72	-10.76	17.13	80.21
EBIT Growth(%)	-47.53	-8.21	73.83	42.16	-32.02	36.7	-3.85	-33.9	62.83	-48.78	223.74
PAT Growth(%)	-69.18	-72.11	236.12	148.78	-52.36	121.53	-5.07	30.43	9.92	-64.6	371.91
EPS Growth(%)	-69.13	-72.78	241.71	146.02	-52.35	119.68	-4.6	30.61	9.95	-64.83	366.42
Debt/Equity(x)	1.32	1.53	1.43	1.32	1.3	1.2	1.1	0.97	0.76	0.92	0.95
Current Ratio(x)	0.76	1.8	1.49	1.9	1.21	1.23	1.1	1	0.97	0.85	1.08
Quick Ratio(x)	0.71	1.68	1.41	1.69	1.07	1.08	0.95	0.88	0.87	0.76	0.96
Interest Cover(x)	2.44	1.39	1.77	2.14	1.56	2.65	2.41	1.5	3	1.9	4.72
Total Debt/Mcap(x)	1.22	2.14	1.21	0.77	0.79	0.84	0.79	0.66	0.38	0.38	0.43

Torrent Power Shareholding Pattern

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	53.57	53.57	53.57	53.57	53.57	53.57	53.57	53.57	53.57	53.57
FII	6.86	6.86	6.79	6.74	6.71	6.3	6.04	6.17	6.13	6.41
DII	22.34	22.38	22.65	22.71	22.8	23.11	23.14	23.09	23.08	22.93
Public	17.24	17.2	17	16.99	16.93	17.03	17.25	17.18	17.22	17.09
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Dec 2021	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024
Promoter	25.74	25.74	25.74	25.74	25.74	25.74	25.74	25.74	25.74	25.74
FII	3.3	3.3	3.26	3.24	3.22	3.03	2.9	2.96	2.95	3.08
DII	10.74	10.76	10.89	10.91	10.96	11.11	11.12	11.1	11.09	11.02
Public	8.28	8.26	8.17	8.17	8.14	8.19	8.29	8.26	8.28	8.22
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	48.06	48.06

Pros

Cons

Company has a low return on equity of 13% over the last 3 years.
Stock is trading at 5.2 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.