TATAPOWER
Tata Power Company Limited
Integrated private power utility — generation, transmission, distribution and rooftop solar
Utilities›Power›Power›Integrated Power Utilities
tatapower.com(opens the company website in a new tab)Key metrics
Price as of 2026-10-16
Stock price
₹353.85
Market cap
1,13,071 Cr
Stock P/E
29.3
P/B
2.86
Dividend yield
1.0%
ROE (FY26)
7.9%
ROCE (FY26)
10.0%
Operating margin (FY26)
13.3%
Debt / equity (FY26)
1.80
OCF / EBITDA (FY26)
45.8%
OCF / EBITDA (3Y)
82.7%
Full years shown; sign in free for the trailing twelve months. Learn about these metrics →
Price & valuation
Share price and valuation multiples (P/E, P/B and more) over time.
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Compare with peers
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What you need to know
Tata Power generates, transmits and distributes electricity in India, from thermal, hydro and renewable plants, regulated power networks and distribution companies, and also sells rooftop solar and makes solar cells and modules, serving about 13 million customers nationwide.
Company snapshot
2ndBy market cap
Ranked among 6 companies in Integrated Power Utilities.
Segment mix
Reportable segments as of 2024-12-31 (Consolidated). Revenue share = segment revenue ÷ total revenue.
Largest segment: 61.0% of revenue
| Segment | Revenue share | Revenue | PBT | Assets |
|---|---|---|---|---|
| Generation | 29.9% | 14,451 Cr | 3,034 Cr | — |
| Others | 0.7% | 324 Cr | -36 Cr | — |
| Renewables | 13.3% | 6,419 Cr | 1,947 Cr | — |
| Transmission and Distribution | 61.0% | 29,531 Cr | 2,429 Cr | — |
Shares add up to 105% because segment revenues are before inter-segment eliminations.
Statement tables · Consolidated
Switches quarterly, P&L, balance sheet, and cash flow. Key metrics and ratios stay on consolidated when available.
Amounts in ₹ Cr · tap + to expand rows
Quarterly results
Quarterly · ₹ Cr · tap + rows to expand
| Metric | Sept 2023 | Dec 2023 | Mar 2024 | Jun 2024 | Sept 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sept 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 15,738 Cr | 14,651 Cr | 15,847 Cr | 17,294 Cr | 15,698 Cr | 15,391 Cr | 17,096 Cr | 18,035 Cr | 15,545 Cr | 13,948 Cr | 14,900 Cr | 19,051 Cr |
| Operating expenses (approx.) | 12,647 Cr | 12,234 Cr | 13,515 Cr | 13,707 Cr | 11,953 Cr | 12,038 Cr | 13,850 Cr | 13,896 Cr | 12,243 Cr | 10,894 Cr | 12,301 Cr | 15,038 Cr |
| EBITDA | 3,091 Cr | 2,417 Cr | 2,332 Cr | 3,587 Cr | 3,745 Cr | 3,353 Cr | 3,246 Cr | 4,139 Cr | 3,302 Cr | 3,055 Cr | 2,599 Cr | 4,013 Cr |
| OPM % | 19.6% | 16.5% | 14.7% | 20.7% | 23.9% | 21.8% | 19.0% | 22.9% | 21.2% | 21.9% | 17.4% | 21.1% |
| Other income | 292 Cr | 643 Cr | 617 Cr | 247 Cr | 513 Cr | 402 Cr | 351 Cr | 362 Cr | 505 Cr | 321 Cr | 555 Cr | 388 Cr |
| Interest | 1,182 Cr | 1,094 Cr | 1,136 Cr | 1,176 Cr | 1,143 Cr | 1,170 Cr | 1,213 Cr | 1,279 Cr | 1,319 Cr | 1,364 Cr | 1,295 Cr | 1,407 Cr |
| Depreciation | 926 Cr | 926 Cr | 1,041 Cr | 973 Cr | 987 Cr | 1,041 Cr | 1,116 Cr | 1,161 Cr | 1,162 Cr | 1,208 Cr | 1,280 Cr | 1,260 Cr |
| Profit before tax | 1,231 Cr | 1,489 Cr | 1,537 Cr | 1,490 Cr | 1,773 Cr | 1,457 Cr | 1,600 Cr | 1,619 Cr | 1,680 Cr | 1,540 Cr | 1,797 Cr | 1,823 Cr |
| Tax % | 17.3% | 27.7% | 32.0% | 20.2% | 38.3% | 18.5% | 18.4% | 22.1% | 25.9% | 22.4% | 21.2% | 23.2% |
| Net profit | 1,017 Cr | 1,076 Cr | 1,046 Cr | 1,189 Cr | 1,093 Cr | 1,188 Cr | 1,306 Cr | 1,262 Cr | 1,245 Cr | 1,194 Cr | 1,416 Cr | 1,401 Cr |
| EPS (₹) | ₹2.74 | ₹2.98 | ₹2.79 | ₹3.04 | ₹2.90 | ₹3.22 | ₹3.26 | ₹3.31 | ₹2.88 | ₹2.41 | ₹3.12 | ₹3.68 |
Profit & loss (annual)
Annual · last column is TTM · ₹ Cr · tap + to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Sales | 27,588 Cr | 29,331 Cr | 29,559 Cr | 29,136 Cr | 32,468 Cr | 42,816 Cr | 55,109 Cr | 61,449 Cr | 65,478 Cr | 62,429 Cr | Sign in free for the trailing twelve months |
| Operating expenses (approx.) | 21,406 Cr | 22,974 Cr | 23,136 Cr | 21,194 Cr | 25,540 Cr | 35,305 Cr | 47,403 Cr | 50,665 Cr | 51,548 Cr | 49,334 Cr | Sign in free for the trailing twelve months |
| EBITDA | 6,182 Cr | 6,357 Cr | 6,423 Cr | 7,943 Cr | 6,928 Cr | 7,511 Cr | 7,706 Cr | 10,784 Cr | 13,930 Cr | 13,095 Cr | Sign in free for the trailing twelve months |
| OPM % | 22.4% | 21.7% | 21.7% | 27.3% | 21.3% | 17.5% | 14.0% | 17.5% | 21.3% | 21.0% | Sign in free for the trailing twelve months |
| Other income | 586 Cr | 433 Cr | 396 Cr | 563 Cr | 439 Cr | 920 Cr | 1,438 Cr | 1,823 Cr | 1,514 Cr | 1,743 Cr | Sign in free for the trailing twelve months |
| Interest | 3,365 Cr | 3,723 Cr | 4,170 Cr | 4,494 Cr | 4,010 Cr | 3,859 Cr | 4,372 Cr | 4,633 Cr | 4,702 Cr | 5,257 Cr | Sign in free for the trailing twelve months |
| Depreciation | 1,956 Cr | 2,398 Cr | 2,393 Cr | 2,634 Cr | 2,745 Cr | 3,122 Cr | 3,439 Cr | 3,786 Cr | 4,117 Cr | 4,811 Cr | Sign in free for the trailing twelve months |
| Profit before tax | 1,447 Cr | 2,829 Cr | 3,031 Cr | 1,926 Cr | 1,767 Cr | 2,535 Cr | 5,457 Cr | 5,732 Cr | 6,320 Cr | 6,636 Cr | Sign in free for the trailing twelve months |
| Tax % | 24.2% | 5.3% | 19.5% | 31.6% | 18.6% | 15.0% | 30.2% | 25.3% | 24.4% | 22.9% | Sign in free for the trailing twelve months |
| Net profit | 1,100 Cr | 2,679 Cr | 2,440 Cr | 1,316 Cr | 1,439 Cr | 2,156 Cr | 3,810 Cr | 4,280 Cr | 4,775 Cr | 5,118 Cr | Sign in free for the trailing twelve months |
| EPS (₹) | ₹2.90 | ₹8.74 | ₹7.69 | ₹3.12 | ₹3.17 | ₹5.36 | ₹10.43 | ₹11.56 | ₹12.42 | ₹11.72 | Sign in free for the trailing twelve months |
| Dividend payout % | — | — | — | — | 36.6% | 25.9% | 20.7% | 20.7% | 20.2% | 21.8% | Sign in free for the trailing twelve months |
Sign in free for the trailing twelve months
The latest four quarters added up, next to each full year
Balance sheet
Annual · ₹ Cr · tap + rows to expand
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Equity capital | 271 Cr | 271 Cr | 271 Cr | 271 Cr | 320 Cr | 320 Cr | 320 Cr | 320 Cr | 320 Cr | 320 Cr |
| Reserves | 14,444 Cr | 16,490 Cr | 17,951 Cr | 19,296 Cr | 22,003 Cr | 22,122 Cr | 28,468 Cr | 32,036 Cr | 35,521 Cr | 39,148 Cr |
| Borrowings | 41,423 Cr | 41,184 Cr | 45,015 Cr | 44,540 Cr | 38,481 Cr | 47,590 Cr | 48,974 Cr | 49,480 Cr | 58,146 Cr | 71,122 Cr |
| Other liabilities | 24,915 Cr | 23,778 Cr | 18,760 Cr | 23,311 Cr | 35,120 Cr | 39,266 Cr | 45,170 Cr | 51,741 Cr | 55,960 Cr | 56,511 Cr |
| Total liabilities | 82,921 Cr | 83,737 Cr | 84,162 Cr | 89,748 Cr | 98,851 Cr | 1,12,885 Cr | 1,28,349 Cr | 1,39,553 Cr | 1,56,711 Cr | 1,75,172 Cr |
| Fixed assets (net) | 43,233 Cr | 43,257 Cr | 41,102 Cr | 44,663 Cr | 48,749 Cr | 54,165 Cr | 58,507 Cr | 63,993 Cr | 75,351 Cr | 84,396 Cr |
| CWIP | 1,923 Cr | 1,653 Cr | 2,576 Cr | 1,612 Cr | 3,600 Cr | 4,635 Cr | 5,376 Cr | 11,561 Cr | 12,679 Cr | 14,595 Cr |
| Investments | 11,873 Cr | 12,429 Cr | 13,018 Cr | 14,535 Cr | 13,149 Cr | 14,160 Cr | 16,670 Cr | 16,316 Cr | 16,316 Cr | 16,575 Cr |
| Loans & advances | — | — | 116 Cr | 33 Cr | 31 Cr | 9 Cr | 12 Cr | 11 Cr | 12 Cr | 20 Cr |
| Inventories | 1,600 Cr | 1,623 Cr | 1,706 Cr | 1,752 Cr | 1,885 Cr | 4,232 Cr | 3,943 Cr | 4,420 Cr | 4,572 Cr | 5,108 Cr |
| Trade receivables | 3,832 Cr | 2,789 Cr | 4,445 Cr | 5,225 Cr | 6,575 Cr | 8,265 Cr | 9,409 Cr | 7,402 Cr | 5,710 Cr | 4,424 Cr |
| Cash & bank | 835 Cr | 1,061 Cr | 645 Cr | 1,862 Cr | 3,783 Cr | 3,077 Cr | 4,190 Cr | 3,324 Cr | 4,862 Cr | 4,410 Cr |
| Other assets | 19,625 Cr | 20,926 Cr | 20,553 Cr | 20,067 Cr | 21,081 Cr | 24,341 Cr | 30,243 Cr | 32,527 Cr | 37,208 Cr | 45,645 Cr |
| Total assets | 82,921 Cr | 83,737 Cr | 84,162 Cr | 89,748 Cr | 98,851 Cr | 1,12,885 Cr | 1,28,349 Cr | 1,39,553 Cr | 1,56,711 Cr | 1,75,172 Cr |
Cash flows
Annual · ₹ Cr · tap + rows to expand · last column includes FCF
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operating activity | 7,014 Cr | 6,364 Cr | 4,574 Cr | 7,375 Cr | 8,458 Cr | 6,693 Cr | 7,159 Cr | 12,596 Cr | 12,680 Cr | 5,993 Cr |
| Cash from investing | -7,419 Cr | -1,518 Cr | -319 Cr | -543 Cr | 668 Cr | -6,277 Cr | -7,375 Cr | -9,035 Cr | -15,449 Cr | -14,193 Cr |
| Cash from financing | 937 Cr | -4,726 Cr | -5,184 Cr | -5,110 Cr | -7,603 Cr | -1,183 Cr | 1,341 Cr | -4,497 Cr | 4,292 Cr | 7,783 Cr |
| Net cash flow | 533 Cr | 120 Cr | -930 Cr | 1,723 Cr | 1,509 Cr | -741 Cr | 1,243 Cr | -928 Cr | 1,536 Cr | -353 Cr |
| Free cash flow (OCF − Capex) | 3,692 Cr | 2,803 Cr | 998 Cr | 5,150 Cr | 5,122 Cr | -575 Cr | -497 Cr | -737 Cr | -4,593 Cr | -7,701 Cr |
Ratios
| Metric | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| ROCE % | 8.3% | 10.9% | 11.0% | 9.7% | 9.1% | 8.7% | 11.8% | 11.8% | 10.9% | 10.0% |
| ROE % | 5.4% | 14.3% | 10.7% | 4.6% | 4.5% | 6.7% | 9.8% | 9.6% | 9.3% | 7.9% |
| Debtor days | 51 | 35 | 55 | 65 | 74 | 70 | 62 | 44 | 32 | 26 |
| Inventory days | 577 | 55 | 676 | 668 | 261 | 402 | 370 | 297 | 338 | 216 |
| Days payable | 1993 | 190 | 2170 | 1943 | 986 | 993 | 694 | 625 | 655 | 301 |
| Cash conversion cycle | -1366 | -100 | -1440 | -1209 | -651 | -521 | -263 | -285 | -285 | -60 |
| OCF / EBITDA % | 113.5% | 100.1% | 71.2% | 92.9% | 122.1% | 89.1% | 92.9% | 116.8% | 91.0% | 45.8% |
| OCF / EBITDA % (3 years) | — | — | 94.7% | 88.4% | 95.8% | 100.6% | 100.7% | 101.7% | 100.0% | 82.7% |
| Debt / equity | 2.82 | 2.46 | 2.47 | 2.28 | 1.72 | 2.12 | 1.70 | 1.53 | 1.62 | 1.80 |
| Current ratio | 0.31 | 0.26 | 0.37 | 0.45 | 0.53 | 0.56 | 0.63 | 0.66 | 0.64 | 0.78 |
| Net debt / EBITDA | 6.57 | — | 6.91 | 5.37 | 5.01 | 5.93 | 5.81 | 4.28 | 3.83 | 5.09 |