Tata Power Company (TATAPOWER) Q4 24/25 earnings summary

Executive summary

• Achieved record PAT before exceptional items of ₹5,197 crore in FY25, surpassing the ₹5,000 crore milestone, with Q4 PAT up 25% year-over-year to ₹1,306 crore.

• Revenue grew to ₹65,478.24 crore in FY25, with EBITDA up 13.9% to ₹15,261 crore, and all core businesses—generation, transmission & distribution, and renewables—delivered strong performance.

• Clean & Green energy forms 44% of capacity, targeting 70% by 2030 and 100% by 2045.

• Major expansion in solar rooftop, EV charging, and cell/module manufacturing, with 1.5 lakh+ rooftop installations and 5,488 public EV charging points.

• The Board proposed a dividend of ₹2.25 per equity share, subject to shareholder approval.

Financial highlights

• FY25 revenue increased to ₹65,478.24 crore, with PAT before exceptional items at ₹5,197 crore and reported PAT after exceptional items at ₹4,775 crore.

• Underlying EBITDA for FY25 reached ₹15,261 crore, up 13.9% year-over-year.

• Q4 FY25 revenue was ₹17,328 crore, with PAT up 16.1% to ₹1,288 crore.

• Net debt stood at ₹44,700 crore at FY25 end, with net debt/EBITDA at 2.93x.

• Adjusted EPS for FY25 was ₹13.53; ROE improved to 12.8%.

Outlook and guidance

• Targeting to double PAT and EBITDA by FY 2030, with CapEx planned at ₹25,000 crore for FY26, 60% allocated to renewables and 30% to T&D.

• Plans to commission 2.5–2.7 GW of renewable projects in FY26 and expand solar rooftop under PM Surya Ghar Yojna, targeting 3 million households in 3 years.

• Clean & Green portfolio to reach 70% of capacity by 2030 and 100% by 2045.

• Ongoing investments in pumped storage hydro and transmission projects, with major completions expected by 2029.

• The company continues to supply power from the Mundra Power Plant under Ministry of Power directions, with the term extended to June 30, 2025.