Tata Power demonstrated broad-based operational expansion during the July-September quarter, lifting revenue by 26% year-on-year to Rs 19,886 crore and profit after tax by 33% to Rs 1,652 crore. Brokerages like Nuvama and Elara Capital cut target prices to Rs 416 and Rs 485, respectively, but maintained positive recommendations as net profit outpaced expectations. Nuvama noted that bottom-line gains were significantly supported by a fourfold jump in coal profits to Rs 4 billion. With the stock trading around Rs 360, analysts believe concerns over high debt for renewable projects and a potential Rs 60 billion Kleros liability are largely priced in.
Key points
Brokerages retained buy ratings because existing valuations have already absorbed the imp…: Brokerages retained buy ratings because existing valuations have already absorbed the impact of higher renewable debt and a potential Rs 60 billion liability.
Coal profits experienced a fourfold surge to Rs 4 billion, helping second-quarter earning…: Coal profits experienced a fourfold surge to Rs 4 billion, helping second-quarter earnings beat institutional estimates despite solar segment losses.
Despite recent price corrections, Tata Power maintains a market capitalisation above Rs 1…: Despite recent price corrections, Tata Power maintains a market capitalisation above Rs 1.15 lakh crore alongside solid multi-year returns.
Sources checked by our analysis pipeline: 1
The Tata Group's integrated power company’s revenue meanwhile grew 26% YoY to Rs 19,886 crore during the July-September quarter of the ongoing financial year 2027, from Rs 15,769 crore reported in the corresponding quarter of the previous financial year. Its EBITDA rose 5% YoY to Rs 4,245 crore during the quarter under review.
The quarterly performance was supported by broad-based growth across generation, renewables, transmission and distribution, and emerging consumer-focused green businesses. The company said regulated and long-term contracted businesses accounted for an increasing share of EBITDA, strengthening earnings resilience and providing greater predictability and visibility of cash flows and profitability.
Also read | Tata Power Q2 Results: PAT jumps 33% YoY to Rs 1,652 crore, revenue rises 26%
Nuvama on Tata Power share price
Nuvama Institutional Equities said Tata Power’s Q2 profit, post-minority and one-off gain, beat its estimate by 6%, driven by a 4x surge in coal profit of Rs 4 billion on higher realisation per tonne and 63% SA PAT (DSM and demand-led growth in traditional generation). This was however partially offset by large solar projects and…
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