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Torrent Power (TORNTPOWER) investor relations material
Torrent Power Q2 26/27 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 revenue was ₹9,801.58 crore, PBT ₹1,130.73 crore (+15% YoY) and PAT ₹837.96 crore (+13%); adjusted PBT was ₹1,008 crore (+6%).
H1 revenue was ₹17,925.73 crore (+14% YoY), PBT ₹2,055.92 crore and PAT ₹1,499.81 crore.
Operational capacity reached 6,804 MWp; capacity including the pipeline was 12,681 MWp.
Operating resilience across generation, distribution and renewables was offset by higher depreciation and financing costs.
Financial highlights
Q2 revenue from operations increased to ₹9,801.58 crore from ₹7,876.00 crore YoY; PBT rose to ₹1,130.73 crore from ₹979.10 crore and PAT to ₹837.96 crore from ₹741.55 crore.
H1 PBT was ₹2,055.92 crore versus ₹1,964.44 crore YoY; PAT was ₹1,499.81 crore versus ₹1,483.13 crore.
Q2 contribution was ₹2,548 crore, up 17% YoY; finance cost rose to ₹439 crore from ₹216 crore.
Current-quarter non-recurring items included ₹115 crore seller indemnity income, ₹52 crore LNG-hedge unwind gain and ₹44 crore SECI 12 termination charges; prior-year PBT included ₹31 crore of non-recurring credit.
Tax rate was 26% versus 24% YoY, reflecting the new tax regime and tax on profitable subsidiaries.
Outlook and guidance
Renewable projects under implementation total 4.4 GW; expected commissioning is 1–1.2 GW in FY27, 1.4–1.6 GW in FY28 and the balance by FY29.
Renewable portfolio target is ~6.59 GW; projects listed include ~2.5 GW contracted capacity and ~4.5 GWp under installation, with estimated costs of ~₹30,638 crore.
Nabha Power is expected to deliver a recurring EBITDA run rate of ₹1,000 crore annually; timing differences affecting the quarter should normalize.
Long-term LNG supply begins in calendar 2027 at 10 cargoes annually; 4–5 cargoes are expected for power operations, prioritizing PPA needs.
Pumped-storage pipeline totals 8.4 GW across Maharashtra and Uttar Pradesh, including 3 GW under development; C&I renewable projects are expected to commission progressively through 2029.
- Lower T&D losses and 56%-complete SUGEN project led the 18-month period.TORNTPOWER
Q4 05/06 - Gujarat losses fell as Bhiwandi integration and the 1,130 MW SUGEN build shaped growth.TORNTPOWER
Q4 06/07 - PAT reached Rs 211.24 crore as SUGEN’s 1,147.5 MW start-up slipped to FY09.TORNTPOWER
Q4 07/08 - PAT nearly doubled as distribution efficiency improved and SUGEN neared launch.TORNTPOWER
Q4 08/09 - SUGEN commissioning drove a sharp FY10 earnings step-up amid ambitious expansion plans.TORNTPOWER
Q4 09/10 - Higher FY11 earnings and sales, tempered by tariff, fuel-cost and project risks.TORNTPOWER
Q4 10/11 - Higher earnings and power sales, despite fuel-constrained generation, supported expansion plans.TORNTPOWER
Q4 11/12 - Gas shortages and deferred cost recovery drove a steep FY 2012-13 profit decline.TORNTPOWER
Q4 12/13 - Revenue grew, but gas constraints and rising costs cut FY14 PAT by 75.36%.TORNTPOWER
Q4 13/14
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