Torrent Power Ltd Share Price – NSE /  BSE

Power Generation & Distribution, Mid Cap

The company said that net profit was lower as the increase in contribution from licensed distribution businesses was offset by reduced contributions from thermal generation due to lower merchant power sales, lower renewable business contribution from decreased PLF and partial solar project commissioning, and higher finance and depreciation costs from capex and additional renewable capacity

However, revenue from operations grew by 3.09% year on year to Rs 7,175.81 crore in the quarter ended 30 September 2024.

Profit before tax for the quarter was at Rs 688.68 crore, registering de-growth of 7.02% from Rs 740.67 crore recorded in Q2 FY24.

During the quarter, EBITDA rose marginally to Rs 1,332 crore in Q2 FY25 as against Rs 1,330 in Q2 FY24.

On the margins front, the company's operating margin reduced to 16.82% in Q2 FY25 as compared with 17.55% recorded in Q2 FY24. Net profit margin declined to 6.91% in Q2 FY25 from 7.79% registered in Q2 FY24.

The company has an aggregate installed generation capacity of 4,580 MWp comprising of 2,730 MW of gas-based capacity, 1, 488 MWp of renewable capacity and 362 MW of coal based capacity.

Further, renewable projects of 2,979 MWp are under development. Total generation capacity, including projects under advanced stages of development, is 7,559 MWp, said the firm.

The company has recently received LOA for developing and supplying 2,000 MW / 16,000MWh Pump Storage Hydro power from MSEDCL.

Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission and distribution.

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Net profit of Torrent Power declined 8.53% to Rs 481.03 crore in the quarter ended September 2024 as against Rs 525.89 crore during the previous quarter ended September 2023. Sales rose 3.09% to Rs 7175.81 crore in the quarter ended September 2024 as against Rs 6960.92 crore during the previous quarter ended September 2023.

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Torrent Power will hold a meeting of the Board of Directors of the Company on 13 November 2024

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In an exchange filing, the company said that contract entails 2,000 MW capacity is inclusive of 1,500 MW capacity for which a letter of intent was already issued by MSEDCL on 17 September, 2024.

The company has now received an allotment of an additional 500 MW capacity under the tender taking the total capacity allocated to 2,000 MW.

MSEDCL will procure energy storage capacity from Torrent Power’s InSTS connected pumped hydro storage for 40 years. The company plans to supply the storage capacity from its upcoming InSTS connected pumped hydro storage pumped hydro storage plant being set up in Maharashtra.

Total capacity is to be commissioned within 48 months from the signing of energy storage facility agreement. The total annual revenue is Rs 1,680 crore.

Under the Energy Storage Facility Agreement (ESFA) will see MSEDCL procuring storage capacity from the plant, capable of a scheduled discharge of 8 hours per day, with a maximum continuous supply of 5 hours.

Meanwhile, the company has signed share subscription and shareholders agreement with The Lakshmi Mills Company (TLMCL) and Torrent Urja 17 for supply of power from renewable energy sources of 8.5 MWp Solar Power through open access from the Project of TU17 to the production units of TLMCL

Torrent Power is a private sector integrated power utility engaged in the business of power generation, transmission and distribution.

The company’s consolidated net profit jumped 87.96% to Rs 972.24 crore in Q1 FY25 as against with Rs 517.27 crore posted in Q1 FY24. Revenue from operations grew by 23.28% year on year to Rs 9,033.73 crore in the quarter ended 30 June 2024.

The counter hit all-time high of Rs 1,983.70 in intraday today.

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