The Tata Power Company Limited – Investor Presentation Summary

Key Operational Highlights

  • Total operational capacity stands at 18.3 GW including 9.5 GW under construction and 0.2 GW BESS
  • Added 539 MW of generation capacity in Q2 FY27 (765 MW in H1 FY27)
  • Mundra Plant reported availability of 89% operating under Section 11
  • Robust quarterly module production of 1,000 MW with industry-leading yield of 97%
  • Commissioned 419 MW utility scale renewable projects, reaching 7.2 GW installed RE capacity
  • Rooftop business achieved billing of 426 MWp, up 15% YoY
  • Cumulatively installed over 7,400 Public and Bus charging points till Q2 FY27
  • Odisha DISCOMs AT&C losses stand at 21%

Key drivers of operational performance: New renewable capacity additions, strong solar manufacturing yield, and expansion in rooftop solar and EV charging infrastructure.

Segment-wise Performance

Generation and Coal Cluster: EBITDA growth driven by strong performance by Mumbai Generation business, Mundra operations, MPL (FGD contribution) and higher merchant margin at Haldia Power Plant. PAT grew significantly to ₹555 crore.

Renewable Cluster: Strong performance by RE Gencos, Rooftop business (426 MWp installation, up 15% YoY), and Solar manufacturing reporting strong margins. Partly offset by curtailment of RE generation in Rajasthan & Gujarat.

T&D Cluster: EBITDA growth led by Mumbai Transmission, Odisha Discoms and TBCB portfolio. PAT growth driven by Mumbai transmission, TBCB projects and higher billing efficiency in discom businesses. Odisha posted PAT growth of 33% YoY to ₹233 crore.

Financial Highlights

Q2 FY27 Performance:

Revenue: ₹19,886 crore

EBITDA: ₹4,245 crore (5.3% YoY growth)

PAT: ₹1,652 crore (33% YoY growth)

PAT before exceptional items: ₹1,521 crore (45.6% YoY growth)

H1 FY27 Performance:

Revenue: ₹38,784 crore

EBITDA: ₹8,494 crore

PAT: ₹3,053 crore

Margins: EBITDA margin not explicitly stated in percentage terms

YoY/QoQ comparison: Revenue grew 26% YoY in Q2, 17% YoY in H1

Drivers of financial performance: Growth across all clusters including Mundra, Renewables, Mumbai Transmission and Odisha Discoms. Strong contribution from coal and shipping business.

Geographical Revenue Split

Not explicitly detailed in the presentation. Domestic operations focused on Mumbai, Delhi, Odisha, and various transmission projects across India. International presence through Indonesian coal mines and Bhutan hydro projects.

Balance Sheet Snapshot

Net Debt: ₹62,681 crore

Net Debt to Equity: 1.27

Net Worth: ₹49,332 crore

Financial Health Insights: Strong credit ratings with CRISIL AA+/Stable, India Ratings AA+/Stable, ICRA AA+/Stable, CARE AA+/Stable. S&P Global BBB/Stable and Moody's Ba1/Positive.

Capex & Cash Flow Health

Capital Expenditure: ~₹10,000 crore in H1 FY27 (record half-yearly)

Investment Rationale: Focus on renewable capacity expansion, transmission projects, and pumped storage hydro development. Strategic investments in solar manufacturing (4.3 GW capacity) and EV charging infrastructure.

Strategic & R&D Initiatives

Investments in Innovation: 4.3 GW integrated cell & module manufacturing capacity. 2.8 GW under construction Pumped Hydro Projects. Development of 5.5 GW clean energy projects in Bhutan through MoU with Druk Green Power.

Expected impact on growth: Clean & Green capacity target of >20 GW by 2030 (currently ~7 GW). Total capacity target of >30 GW by 2030 (currently ~16.7 GW).

Strategic Rationale: Vertical integration across generation, transmission, distribution, and new-age energy solutions. Expansion into high-growth renewable markets and energy transition technologies.

Industry Trends & Business Environment

Macro/Industry Trends: Power demand up 11% YoY in Q2 FY27. Clean & Green accounted for ~25 GW capacity additions during H1 FY27. Total installed capacity in India stands at 559 GW. ₹9.2 trillion transmission Capex anticipated in India between FY25-32E.

Impact on Company: Benefiting from growing power demand and energy transition investments. Positioned to capture opportunities in renewable energy, transmission infrastructure, and distributed energy solutions.

Management Commentary & Growth Outlook

Strategic Outlook: Target of >30 GW total capacity and >20 GW clean & green capacity by 2030. Expansion to ~40 million distribution customers by 2030 (currently 13.1 million). Development of >10,000 Ckm transmission lines.

FY Guidance: Not explicitly stated, but growth trajectory supported by record capex and project pipeline.

Risks and Opportunities: Mention of curtailment issues in Rajasthan & Gujarat affecting RE generation. Opportunities in energy storage, hybrid projects, and firm dispatchable renewable energy.

ESG Updates

Sustainability Goals: Net Zero by 2045, Water Neutral by 2030, Zero Waste to Landfill by 2030. Current clean & green portfolio at 49% (target 70% by 2030).

Social Impact: Education outreach to 17.46 lakh beneficiaries, employability training for 3.10 lakh beneficiaries. Gender diversity at 11% (target 22% by 2030).

ESG Ratings: CDP Climate Change: B, CDP Water: B, S&P CSA: 77, MSCI: A, Sustainalytics: 42.9.