Torrent Power Ltd logo

Torrent Power Ltd

TORNTPOWER NSE

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] It is a part of Torrent Group which has presence across pharmaceutical, power and city gas distribution business.[2]

AI Verdict: HOLD Confidence: 5%

Torrent Power trades at a PE of 30.1x with declining TTM profit growth of -14% and flat sales growth of -1% TTM, suggesting the stock is priced for growth that is currently decelerating. The 3-year stock CAGR of 32% has richly valued the stock at 3.89x book value, making fresh entry risky without a margin of safety.

Key Fundamentals

MidcapIntegrated Power UtilitiesPower
Market Cap
₹72,613 Cr
Volatility
Moderate
P/E Ratio
29.48
EBITDA
₹5,541 Cr
Return on Equity
15.05%
Debt to Equity
0.69
Book Value
₹378.55
EPS
₹47.61
52W High
₹1,824.1
52W Low
₹1,188

Technical Indicators

Key Insights

Strengths

1
  • Company has been maintaining a healthy dividend payout of 38.6%

Weaknesses

1
  • Stock is trading at 3.82 times its book value

Growth Rate

Revenue Growth
-2.31% ↗
Net Income Growth
-15.37% ↗
Cash Flow Change
12.84% ↗
ROE
11.56% ↗
ROCE
7.62% ↗
EBITDA Margin (Avg.)
-3.17% ↗

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 1d ago
HOLD
Risk medium

Torrent Power trades at a PE of 30.1x with declining TTM profit growth of -14% and flat sales growth of -1% TTM, suggesting the stock is priced for growth that is currently decelerating. The 3-year stock CAGR of 32% has richly valued the stock at 3.89x book value, making fresh entry risky without a margin of safety.

Bull Case 7
  • Strong long-term stock CAGR of 32% over 3 years and 27% over 5 years demonstrates sustained wealth creation for investors
  • Consistent ROE averaging 14-16% over 3-10 year periods indicates a fundamentally sound business with decent capital efficiency
  • Healthy dividend payout ratio of 38.6% with a current yield of 1.36% provides income cushion in a utilities stock
  • Compounded sales growth of 19% over 5 years shows the company has scaled meaningfully in the medium term
  • Compounded profit growth of 14% over 5 years reflects ability to convert revenue growth into earnings
  • Large market cap of Rs 73,837 Cr provides institutional liquidity and index inclusion potential
  • 10-year stock CAGR of 24% significantly outperforms most utility peers, suggesting superior execution
Bear Case 8
  • TTM compounded profit growth has turned negative at -14%, signaling near-term earnings deterioration
  • TTM sales growth is -1%, indicating revenue stagnation or potential volume/tariff headwinds
  • PE of 30.1x is expensive for a utility company where sector average typically ranges 15-20x
  • Price-to-book of 3.89x is elevated and flagged as a concern — limits margin of safety for new investors
  • ROE has been declining from 16% (3-year) to 13% (last year), showing deteriorating return efficiency
  • Analyst consensus is split with only 30% recommending Buy versus 30% Sell, reflecting divided opinion on valuation
  • 3-year sales CAGR of only 4% versus 5-year CAGR of 19% suggests growth is materially slowing
  • 1-year stock return of just 4% indicates the market is already pricing in the growth slowdown

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 14h ago
Headwinds 1
  • Q4 net profit drops 70% Jun 10

    Consolidated net profit fell 69.96% to ₹318.20 crore in Q4 FY26 versus ₹1,059.57 crore in the year-ago quarter. Revenue from operations also dipped 0.77% to ₹6,406.07 crore.

Positives 2
  • ₹5/share final dividend declared Jun 10

    Record date set for June 19, 2026 for a ₹5 per share final dividend (on ₹10 face value), payable on or after September 2, 2026. This follows an interim dividend of ₹15/share paid in February 2026, bringing total FY26 dividend to ₹20/share.

  • Rising dividend trajectory Jun 10

    Total dividends have grown from ₹16/share in FY24 to ₹18/share in FY25 to ₹20/share in FY26, reflecting a consistent shareholder return policy.

Neutral 5
  • Virtual analyst meet June 30 Jun 24

    Torrent Power will host a virtual analyst and investor meeting with HDFC Securities on June 30, 2026 at 11:00 am IST.

  • Equirus analyst meet June 24 Jun 18

    In-person meeting with Equirus Securities scheduled for June 24, 2026 in Ahmedabad at 11:00 am IST.

  • No share encumbrance in FY26 Jun 6

    Torrent Investments declared zero encumbrance on Torrent Power shares for FY26 under SEBI SAST Regulations.

  • Investor meetings June 9 & 11 Jun 4

    Torrent Power attending ICICI Securities conference in Mumbai (June 9) and meeting ADIA in Ahmedabad (June 11, 2026).

  • ₹39 crore block trade on NSE Jun 1

    Approximately 278,921 shares traded in a block deal at ₹1,403.40 per share, totalling ₹39.14 crore, indicating institutional activity.

TL;DR: Torrent Power is rewarding shareholders with a growing dividend (₹20/share in FY26 vs ₹18 in FY25), and active institutional engagement suggests sustained investor interest. However, the sharp 70% Q4 profit decline is a notable concern despite flat revenues. The company's consistent dividend policy and frequent analyst interactions signal management confidence, but investors should watch whether profitability recovers in coming quarters.

Quarterly Results

  Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Sales
6,038
7,328
6,961
6,366
6,529
9,034
7,176
6,499
6,456
7,906
7,876
6,778
6,406
Expenses
4,947
6,143
5,740
5,322
5,420
7,176
5,968
5,388
5,326
6,423
6,370
5,375
5,257
Operating Profit
1,090
1,185
1,221
1,044
1,109
1,858
1,207
1,112
1,130
1,483
1,506
1,403
1,149
OPM %
18%
16%
18%
16%
17%
21%
17%
17%
18%
19%
19%
21%
18%
Other Income
96
86
108
54
97
76
125
172
114
105
78
69
71
Interest
189
227
247
235
233
260
272
276
236
212
216
255
252
Depreciation
329
332
342
349
355
359
371
378
389
390
389
413
421
PBT
668
711
741
513
617
1,315
689
630
619
985
979
805
547
Tax %
28%
25%
27%
27%
28%
24%
28%
22%
-74%
25%
24%
19%
39%
Net Profit
484
532
543
374
447
996
496
489
1,077
742
742
655
331
EPS in Rs
9.34
10.76
10.94
7.49
8.95
20.23
10.01
9.44
21.03
14.52
14.36
12.76
6.31
Figures in ₹ Crores

Profit & Loss

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Sales
10,348
11,680
9,960
11,512
13,151
13,641
12,173
14,258
25,694
27,183
29,165
28,966
Expenses
8,246
8,681
7,487
8,364
9,934
10,045
8,695
10,643
20,906
22,587
23,844
23,425
Operating Profit
2,103
2,999
2,472
3,148
3,217
3,596
3,477
3,615
4,789
4,596
5,322
5,541
OPM %
20%
26%
25%
27%
24%
26%
29%
25%
19%
17%
18%
19%
Other Income
320
337
179
232
172
-862
130
-1,089
352
307
473
323
Interest
962
1,131
1,058
848
899
955
776
628
818
943
1,045
934
Depreciation
720
916
1,006
1,132
1,227
1,304
1,280
1,334
1,281
1,378
1,497
1,613
PBT
740
1,290
587
1,401
1,264
475
1,552
564
3,041
2,583
3,253
3,317
Tax %
51%
30%
27%
32%
28%
-148%
16%
19%
29%
27%
6%
26%
Net Profit
363
902
430
952
904
1,179
1,296
459
2,165
1,896
3,059
2,469
EPS in Rs
7.61
18.73
8.92
19.61
18.7
24.43
26.86
9.45
44.06
38.14
59.31
47.95
Div. Payout %
20%
24%
25%
26%
27%
47%
41%
95%
59%
42%
32%
42%
Figures in ₹ Crores

Balance Sheet

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
472
481
481
481
481
481
481
481
481
481
504
504
Reserves
6,083
5,990
6,411
7,239
8,490
8,673
9,704
9,463
10,529
11,581
17,111
18,571
Borrowings
9,355
8,515
8,768
9,298
9,715
8,908
7,817
9,143
10,541
11,632
8,840
13,971
Other Liabilities
3,722
4,626
5,132
5,571
5,865
5,541
5,513
5,902
8,320
9,633
10,004
12,147
Total Liabilities
19,632
19,612
20,793
22,589
24,550
23,603
23,514
24,988
29,872
33,326
36,459
45,193
Fixed Assets
15,088
15,139
16,804
17,871
18,014
17,569
17,326
17,097
19,269
21,802
24,286
25,615
CWIP
233
213
332
393
359
568
838
1,297
2,625
2,472
2,250
6,962
Investments
607
511
671
873
914
724
466
407
804
954
895
1,531
Other Assets
3,705
3,748
2,986
3,453
5,263
4,743
4,885
6,187
7,174
8,097
9,028
11,086
Total Assets
19,632
19,612
20,793
22,589
24,550
23,603
23,514
24,988
29,872
33,326
36,459
45,193
Figures in ₹ Crores

Cash Flow

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
2,251
2,550
2,356
2,764
2,425
3,610
2,988
3,167
3,456
4,258
4,805
5,464
Investing
-1,158
-911
-2,122
-2,418
-1,828
-1,129
-910
-2,483
-3,216
-3,544
-3,650
-8,088
Financing
-1,206
-2,163
-674
-311
-617
-2,506
-2,061
-502
-341
-551
-1,216
3,101
Net Cash Flow
-112
-523
-440
34
-20
-25
16
182
-101
163
-62
478
Free Cash Flow
889
926
-85
429
537
2,263
1,699
1,407
432
659
608
-1,990
CFO/OP
113
96
100
98
84
109
93
94
82
103
94
110
Figures in ₹ Crores

Ratios

  Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
31
33
36
36
34
34
43
41
32
29
30
29
Inventory Days
—
—
—
—
—
—
—
—
—
—
—
116
Days Payable
—
—
—
—
—
—
—
—
—
—
—
430
Cash Conversion Cycle
31
33
36
36
34
34
43
41
32
29
30
-285
Working Capital Days
-35
9
-15
-11
-15
-23
-21
-40
-9
-9
-3
-16
ROCE %
11%
15%
10%
13%
12%
13%
13%
13%
18%
15%
16%
14%

Shareholding Pattern

As of Mar 2026
Promoters 51.09%
DIIs 22.83%
FIIs 8.40%
Government 8.35%
Public 5.45%
Others 3.89%
Total 100.01%
  Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters
53.57%
53.57%
53.57%
53.57%
53.57%
53.57%
53.57%
53.57%
53.57%
53.57%
53.57%
53.57%
53.57%
53.57%
53.57%
51.09%
51.09%
51.09%
51.09%
51.09%
51.09%
FIIs
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.00%
0.02%
0.00%
0.00%
0.00%
0.00%
6.41%
8.42%
8.89%
9.94%
9.43%
9.80%
8.81%
8.32%
8.40%
DIIs
18.73%
19.01%
20.12%
20.86%
20.90%
21.17%
21.21%
21.31%
21.64%
21.67%
21.62%
21.61%
21.46%
19.53%
19.03%
21.21%
21.90%
21.42%
22.16%
22.73%
22.83%
Government
1.47%
1.47%
1.47%
1.47%
1.47%
1.47%
1.47%
1.47%
1.47%
1.47%
1.47%
1.47%
1.47%
1.47%
8.75%
8.35%
8.35%
8.35%
8.35%
8.35%
8.35%
Public
6.61%
6.76%
6.50%
6.34%
6.40%
6.20%
6.12%
6.07%
6.08%
6.16%
6.07%
6.12%
5.99%
5.91%
5.88%
5.66%
5.54%
5.62%
5.87%
5.73%
5.45%
Others
19.63%
19.19%
18.35%
17.77%
17.66%
17.60%
17.64%
17.57%
17.25%
17.13%
17.28%
17.24%
11.11%
11.10%
3.89%
3.75%
3.69%
3.72%
3.73%
3.78%
3.89%
No. of Shareholders
1,12,348
1,25,419
1,24,631
1,25,967
1,34,002
1,31,357
1,26,409
1,24,106
1,25,793
1,16,318
1,19,993
1,31,393
1,40,153
1,41,479
1,53,443
1,63,326
1,65,189
1,65,738
1,75,073
1,68,442
1,60,566

Documents

1
Concall - Feb 2019 Feb 2019
2
Concall - Aug 2019 Aug 2019
3
Concall - May 2026 May 2026
4
Concall - May 2026 May 2026
5
Concall - May 2026 May 2026

Frequently Asked Questions about Torrent Power Ltd

What does Torrent Power Ltd do?
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] It is a part of Torrent Group which has presence a...
Where is Torrent Power Ltd (TORNTPOWER) listed?
Torrent Power Ltd is listed on the Indian stock exchanges. It is listed on NSE: TORNTPOWER and BSE: 532779. You can view its live share price, financials, and ratios on Tapetide.
Which sector does Torrent Power Ltd belong to?
Torrent Power Ltd operates in the Utilities sector within the Power industry. Sector classification helps investors compare companies affected by similar economic conditions and regulatory changes.
What is the market capitalisation of Torrent Power Ltd?
Torrent Power Ltd has a market capitalisation of approximately ₹72612.50 Cr. Based on this, it is classified as a Large Cap stock.
What is the PE ratio of Torrent Power Ltd?
The Price-to-Earnings (PE) ratio of Torrent Power Ltd is 29.48. The PE ratio compares a company's share price to its earnings per share and is commonly used to assess whether a stock is overvalued or undervalued relative to its peers.
What is the 52-week high and low of Torrent Power Ltd?
Over the past 52 weeks, Torrent Power Ltd has traded between a low of ₹1,188 and a high of ₹1,824.1. This range helps investors understand the stock's price volatility and recent trading levels.
Does Torrent Power Ltd pay dividends?
Yes, Torrent Power Ltd has a dividend yield of 1.38%. Dividend yield indicates the annual dividend income relative to the share price. A consistent dividend history can signal financial stability.
What is the Return on Equity (ROE) of Torrent Power Ltd?
Torrent Power Ltd has a Return on Equity (ROE) of 15.05%. ROE measures how effectively a company uses shareholders' equity to generate profits. A higher ROE generally indicates better capital efficiency.
How can I research Torrent Power Ltd on Tapetide?
On Tapetide, you can view Torrent Power Ltd's live share price, quarterly results, profit & loss statements, balance sheet, cash flow, key ratios, shareholding pattern, technical indicators, analyst ratings, and forecasts — all on a single page without needing to sign up.

Company Information

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] It is a part of Torrent Group which has presence across pharmaceutical, power and city gas distribution business.[2]

Website torrentpower.com
CEO Mr. Jinal Sudhirbhai Mehta
Employees 7,969
Listed 2006-11-28
Face Value ₹ 10
Issued Size 50,39,03,543

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