Torrent Power

₹1332.6 -19.1 | 1.4%

WEBSITE BSE:532779 NSE : TORNT POWER 05 Feb, 16:01

Market Cap ₹67150 Cr.

Stock P/E 35.4

P/B 4

Current Price ₹1332.6

Book Value ₹ 333.7

Face Value 10

52W High ₹2037.4

Dividend Yield 1.2%

52W Low ₹ 1057.7

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 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Net Sales	6703	6443	6038	7328	6961	6366	6529	9034	7176	6499
Other Income	94	84	96	86	108	54	97	76	125	172
Total Income	6797	6526	6134	7413	7069	6420	6625	9110	7301	6671
Total Expenditure	5539	4999	4947	6143	5740	5322	5420	7176	5969	5388
Operating Profit	1258	1527	1186	1270	1330	1098	1206	1934	1332	1284
Interest	215	228	189	227	247	235	233	260	272	276
Depreciation	319	322	329	332	342	349	355	359	371	378
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	725	977	668	711	741	513	617	1315	689	630
Provision for Tax	240	283	184	179	198	139	170	318	193	141
Profit After Tax	484	695	484	532	543	374	447	996	496	489
Adjustments	-3	-10	-35	-15	-17	-14	-17	-24	-15	-14
Profit After Adjustments	482	685	449	517	526	360	430	972	481	476
Adjusted Earnings Per Share	10	14.2	9.3	10.8	10.9	7.5	9	20.2	10	9.4

Torrent Power Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	8681	10396	11680	9960	11502	13151	13641	12173	14258	25694	27183	29238
Other Income	251	366	282	191	264	199	197	142	325	406	470	470
Total Income	8932	10762	11962	10151	11766	13350	13837	12314	14583	26100	27653	29707
Total Expenditure	7398	8316	8619	7500	8385	9961	10104	8707	10757	20959	22750	23953
Operating Profit	1534	2446	3344	2651	3381	3389	3734	3607	3826	5141	4904	5756
Interest	705	962	1131	1058	848	899	955	776	628	818	943	1041
Depreciation	554	721	916	1006	1132	1227	1304	1280	1334	1281	1378	1463
Exceptional Income / Expenses	0	-23	-7	0	0	0	-1000	0	-1300	0	0	0
Profit Before Tax	275	740	1290	587	1401	1264	475	1552	564	3041	2583	3251
Provision for Tax	167	378	387	158	449	360	-704	256	105	877	687	822
Profit After Tax	108	363	902	430	952	904	1179	1296	459	2165	1896	2428
Adjustments	-3	-3	-2	-1	-10	-5	-5	-5	-5	-47	-63	-70
Profit After Adjustments	105	360	900	429	942	899	1174	1291	454	2117	1833	2359
Adjusted Earnings Per Share	2.2	7.6	18.7	8.9	19.6	18.7	24.4	26.9	9.4	44.1	38.1	48.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	6%	31%	16%	12%
Operating Profit CAGR	-5%	11%	8%	12%
PAT CAGR	-12%	14%	16%	33%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	19%	36%	33%	23%
ROE Average	16%	14%	14%	11%
ROCE Average	16%	14%	12%	12%

Torrent Power Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	6205	6556	6470	6892	7720	8970	9154	10184	9943	11010	12062
Minority's Interest	30	31	30	29	36	37	36	36	36	477	536
Borrowings	8745	8256	8198	8193	8564	8576	7796	6672	7099	8902	9916
Other Non-Current Liabilities	1864	2016	3147	3175	3492	2779	1808	1812	1762	2553	2999
Total Current Liabilities	2282	2774	1765	2503	2778	4187	4809	4810	6148	6930	7813
Total Liabilities	19126	19632	19612	20793	22589	24550	23603	23514	24988	29872	33326
Fixed Assets	10185	15088	15139	16803	17871	18014	17569	17326	17097	19260	21802
Other Non-Current Assets	4835	398	1122	811	1288	1796	1210	1544	2665	3159	3017
Total Current Assets	4106	4146	3351	3019	3430	4585	4824	4644	5226	7453	8506
Total Assets	19126	19632	19612	20793	22589	24550	23603	23514	24988	29872	33326

Torrent Power Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	771	1679	1570	543	103	137	116	91	107	289	188
Cash Flow from Operating Activities	1355	2251	2550	2356	2764	2425	3610	2988	3167	3456	4258
Cash Flow from Investing Activities	-885	-1158	-911	-2122	-2418	-1828	-1129	-910	-2483	-3216	-3544
Cash Flow from Financing Activities	437	-1206	-2163	-674	-311	-617	-2506	-2061	-502	-341	-551
Net Cash Inflow / Outflow	908	-112	-523	-440	34	-20	-25	16	182	-101	163
Closing Cash & Cash Equivalent	1679	1567	1047	103	137	116	91	107	289	188	351

Torrent Power Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	2.23	7.61	18.73	8.92	19.61	18.7	24.43	26.86	9.45	44.06	38.14
CEPS(Rs)	14.02	22.93	37.83	29.87	43.35	44.33	51.67	53.59	37.3	71.69	68.11
DPS(Rs)	0.5	1.5	4.5	2.2	5	5	11.6	11	9	26	16
Book NAV/Share(Rs)	131.34	138.76	134.63	140.09	160.62	183.4	190.45	211.9	206.88	229.08	250.96
Core EBITDA Margin(%)	14.78	20.01	26.13	24.6	27.08	24.26	25.93	28.47	24.56	18.43	16.31
EBIT Margin(%)	11.28	16.38	20.66	16.45	19.54	16.44	10.48	19.12	8.36	15.02	12.97
Pre Tax Margin(%)	3.17	7.12	11.01	5.87	12.17	9.61	3.48	12.75	3.96	11.84	9.5
PAT Margin (%)	1.24	3.49	7.7	4.3	8.27	6.87	8.64	10.65	3.22	8.42	6.97
Cash Profit Margin (%)	7.63	10.42	15.52	14.36	18.1	16.2	18.2	21.16	12.57	13.41	12.04
ROA(%)	0.59	1.87	4.6	2.13	4.39	3.83	4.9	5.5	1.89	7.89	6
ROE(%)	1.75	5.68	13.85	6.51	13.18	10.93	13.12	13.4	4.56	20.66	16.44
ROCE(%)	6.57	10.78	15.67	10.79	13.83	12.17	7.82	12.93	6.44	19.04	15.62
Receivable days	32.79	29.77	30.37	37.08	33.38	32.75	33.57	40.48	38.69	27.34	29.79
Inventory Days	11.24	9.65	10.59	14.41	13.07	15.01	16.39	15.72	12.65	9.64	10.88
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	42.03	21.41	12.29	26.03	11.69	13.75	11.42	15.78	52.08	11.56	35.52
Price/Book(x)	0.71	1.17	1.71	1.66	1.43	1.4	1.46	2	2.38	2.22	5.4
Dividend Yield(%)	0.53	0.92	1.96	0.95	2.18	1.94	4.16	2.6	1.83	5.1	1.18
EV/Net Sales(x)	1.42	1.47	1.61	1.97	1.74	1.65	1.61	2.3	2.27	1.35	2.81
EV/Core EBITDA(x)	8.04	6.25	5.62	7.42	5.91	6.42	5.89	7.75	8.47	6.74	15.56
Net Sales Growth(%)	5.6	19.75	12.36	-14.73	15.49	14.33	3.72	-10.76	17.13	80.21	5.8
EBIT Growth(%)	-8.21	73.83	42.16	-32.02	36.7	-3.85	-33.9	62.83	-48.78	223.74	-8.64
PAT Growth(%)	-72.11	236.12	148.78	-52.36	121.53	-5.07	30.43	9.92	-64.6	371.91	-12.41
EPS Growth(%)	-72.78	241.71	146.02	-52.35	119.68	-4.6	30.61	9.95	-64.83	366.42	-13.42
Debt/Equity(x)	1.53	1.43	1.32	1.3	1.2	1.1	0.97	0.76	0.92	0.95	0.96
Current Ratio(x)	1.8	1.49	1.9	1.21	1.24	1.1	1	0.97	0.85	1.08	1.09
Quick Ratio(x)	1.68	1.41	1.69	1.07	1.08	0.95	0.88	0.87	0.76	0.96	0.99
Interest Cover(x)	1.39	1.77	2.14	1.56	2.65	2.41	1.5	3	1.9	4.72	3.74
Total Debt/Mcap(x)	2.14	1.21	0.77	0.79	0.84	0.79	0.66	0.38	0.38	0.43	0.18

Torrent Power Shareholding Pattern

#	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoter	53.57	53.57	53.57	53.57	53.57	53.57	53.57	53.57	53.57	51.09
FII	6.74	6.71	6.3	6.04	6.17	6.13	6.41	8.42	8.89	9.94
DII	22.71	22.8	23.11	23.14	23.09	23.08	22.93	21	27.78	29.56
Public	16.99	16.93	17.03	17.25	17.18	17.22	17.09	17.01	9.77	9.41
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024
Promoter	25.74	25.74	25.74	25.74	25.74	25.74	25.74	25.74	25.74	25.74
FII	3.24	3.22	3.03	2.9	2.96	2.95	3.08	4.05	4.27	5.01
DII	10.91	10.96	11.11	11.12	11.1	11.09	11.02	10.09	13.35	14.9
Public	8.17	8.14	8.19	8.29	8.26	8.28	8.22	8.18	4.7	4.74
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	50.39

Pros

Cons

Company has a low return on equity of 14% over the last 3 years.
Stock is trading at 4 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.