Outcome of the Board Meeting dated May 12, 2026
TORNTPOWER · price
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Torrent Power's Board approved audited Q4 and FY26 results showing standalone revenue of ₹21,850 Crore and net profit of ₹2,575 Crore, down 9.7% from FY25's ₹2,851 Crore due to lower fuel costs offset by reduced other income. The company declared total dividend of ₹20 per share (₹15 interim paid in March 2026 plus ₹5 final recommended), payable by September 2, 2026. The Board approved raising up to ₹10,000 Crore via NCDs through private placement and re-appointed two Independent Directors — Radhika Haribhakti and Ketan Dalal — for second 5-year terms. In February 2026, Torrent Power signed an agreement to acquire Nabha Power Limited (2X700 MW coal plant in Punjab) from L&T for ₹3,660.87 Crore. The ₹2,000 Crore NCD Series-14 issued in March 2026 was fully utilized with no deviations.
Profit decline may create near-term pressure on the stock despite maintained dividend payouts. The ₹10,000 Crore NCD authorization signals significant capital raising plans, possibly for the Nabha acquisition or capex. The clean audit opinion and adequate financial ratios provide stability for bondholders.