Generates, transmits, distributes and sells electricity across thermal, hydro, solar and wind sources. Transmission and Distribution is the largest segment at 60.4% of FY26 segment revenue, serving end consumers through DISCOM operations including Odisha. Renewables contributes 22.0% with EBIT of 4,340.93 cr on revenue of 15,027.82 cr, making it the highest-margin segment. Thermal & Hydro adds 17.0%, including the 4,150 MW Mundra plant, which resumed full operations under a new SPPA with GUVNL. Other operating expenses dominate costs at 57.8% of revenue, with capex at 21.9% underscoring the asset-heavy, capital-intensive model that spans generation, transmission, distribution, renewables and solar manufacturing. AR · MarketPing reader · 2026-08-02
Revenue streams, as the annual report describes them. Transmission and Distribution (60%), Renewables (22%), Thermal & Hydro (17%), Others (1%). Capital-intensive, asset-heavy integrated power utility with regulated distribution and competitive generation, renewables and solar manufacturing
| ₹ crore · consolidated | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Revenue | 42,816 | 55,109 | 61,449 | 65,478 | 62,429 |
| EBITDA (ex other income) | 7,361 | 7,706 | 11,057 | 13,808 | 13,001 |
| margin % | 17.2 | 14.0 | 18.0 | 21.1 | 20.8 |
| Owners' profit | 1,741 | 3,336 | 3,696 | 3,971 | 3,747 |
| EPS, as reported (₹) | 5.36 | 10.43 | 11.56 | 12.42 | 11.72 |
| ROE % · ROCE % | 8.3 · 6.9 | 11.1 · 6.8 | 11.2 · 9.2 | 11.2 · 10.1 | 10.8 · 7.3 |
| Debt / equity (x) | 1.83 | 1.43 | 1.29 | 1.36 | 1.50 |
| Cash from operations | 6,693 | 7,159 | 12,596 | 12,680 | 5,993 |
| Capex | (7,268) | (7,656) | (13,333) | (17,273) | (13,695) |
| ₹ crore | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 15,698 | 15,391 | 17,096 | 18,035 | 15,545 | 13,948 | 14,900 | 19,051 |
| Profit before tax | 1,988 | 1,544 | 1,285 | 2,061 | 1,327 | 804 | 485 | 1,735 |
| Net profit | 1,093 | 1,188 | 1,306 | 1,262 | 1,245 | 1,194 | 1,416 | 1,401 |
| EPS (₹) | 2.90 | 3.22 | 3.26 | 3.31 | 2.88 | 2.41 | 3.12 | 3.68 |
| Segment | Revenue, ₹ crore | Share % |
|---|---|---|
| Thermal & Hydro | 6,792 | 9.9 |
| Renewables | 15,028 | 22.0 |
| Transmission and Distribution | 41,339 | 60.4 |
| Others | 432 | 0.6 |
| Generation | 4,844 | 7.1 |
| Total, before eliminations | 68,434 | 100.0 |
| Company | M.cap ₹ cr | P/E | P/B | EV/EBITDA | ROE % | ROCE % | Rev CAGR 5y % | EBITDA m. % |
|---|---|---|---|---|---|---|---|---|
| Date · filing | Category | Importance | 1-day % | 5-day % |
|---|---|---|---|---|
| 11 Sept 2026 · Tata Power to attend Anand Rathi and J.P. Morgan investor conferences | board shareholder meetings | low | — | — |
| 4 Sept 2026 · Tata Power schedules three investor conferences in Sep 2026 | board shareholder meetings | low | — | — |
| 3 Sept 2026 · Tata Power commissions 400 kV Jalpura-Khurja transmission corridor | compliance | low | — | — |
| 31 Aug 2026 · Tata Power Renewables commissions 100 MW solar project; crosses 7 GW operational | compliance | low | — | — |
| 27 Aug 2026 · Tata Power commissions 72.5 MW captive solar project for Tata Steel in Rajasthan | compliance | low | — | — |
| 26 Aug 2026 · Tata Power loses Singapore court challenge in Kleros arbitration; plans to appeal | regulatory legal | high | — | — |
| 25 Aug 2026 · Tata Power to attend Elara India Dialogue 2026 on Sept 1 | board shareholder meetings | low | — | — |
| 24 Aug 2026 · Tata Power commissions 190.5 MW FDRE solar project in Rajasthan | compliance | low | — | — |
| 18 Aug 2026 · Newspaper notice about lost share certificates | compliance | minimal | — | — |
| 11 Aug 2026 · Tata Power notice on special window for physical share transfer re-lodgement | compliance | minimal | — | — |
| Where a broker report shows | This document shows | Why |
|---|---|---|
| A rating (BUY / ADD / REDUCE / SELL) | A state: the latest filed quarter and the measured reactions |
| ADANI POWER LTD |
| 4,04,921 |
| 28.4 |
| 6.10 |
| 19.5 |
| 19.5 |
| 12.7 |
| 15.6 |
| 44.3 |
| TATA POWER CO LTD ◆ | 1,16,528 | 30.2 | 2.45 | 12.4 | 10.8 | 3.4 | 14.0 | 23.1 |
| TORRENT POWER LTD | 65,406 | 28.1 | 3.32 | 13.4 | 12.5 | 9.3 | 18.9 | 19.9 |
| CESC LTD | 19,345 | 9.9 | 1.47 | 7.8 | 12.3 | 5.9 | 9.8 | 20.9 |
| RELIANCE INFRASTRUCTU LTD | 2,193 | 0.7 | 0.08 | 2.1 | 16.6 | (1.6) | 4.1 | 0.8 |
| Metric | Company | Group median | Rank | Better than |
|---|---|---|---|---|
| P/E (TTM) | 30.2 | 20.4 | 23 of 34 | 33% |
| P/B | 2.5 | 1.6 | 22 of 35 | 38% |
| ROCE | 3.4 | 3.1 | 19 of 38 | 51% |
| ROE | 10.8 | 8.8 | 12 of 36 | 69% |
| Debt / Equity | 1.5 | 0.8 | 27 of 36 | 26% |
| EBITDA margin | 23.1 | 41.1 | 27 of 33 | 19% |
| Revenue growth | 5.6 | 7.8 | 19 of 33 | 44% |
| Profit growth | 11.0 | 7.6 | 17 of 34 | 52% |
| Market cap | 116528 | 6460 | 6 of 38 | 87% |
| an event is a fact; a rating is an opinion that requires SEBI RA registration |
| A target price and upside | The current price and the multiples against the group | a target is a forecast; a multiple is a measurement |
| Estimate years marked E | More audited years; no estimates | MarketPing publishes no forecasts — your own model lives on the Models page |
This document is a statistical summary of publicly filed information and market data, prepared by software from primary sources: SEBI results XBRL filed with BSE and NSE, LODR disclosures, shareholding patterns, exchange price data. It contains no research recommendation, no price target and no opinion on the merits of any security, and is not a research report within the meaning of the SEBI (Research Analysts) Regulations, 2014, Regulation 2(1)(w)(vii). Financial statements are as filed (consolidated where the company files consolidated results). Ratios are computed over filed lines. Where a figure is unavailable the table shows a dash rather than an estimate. The business brief is written by MarketPing's reader from the annual report and checked against it; no figure in a table was generated by a model. Nothing here constitutes investment advice, an offer or a solicitation; readers should consult a SEBI-registered adviser before acting. MarketPing is not a SEBI-registered intermediary.
