Tata Power Company Ltd

Tata Power Company Ltd

₹ 394 1.49%
28 Mar - close price
About

Tata Power Company Ltd is primarily involved in the business of the generation, transmission and distribution of electricity. It aims to produce electricity completely through renewable sources. It also manufactures solar roofs and plans to build 1 lakh ev charging stations by 2025[1] The company is India's largest vertically-integrated power company.[2]

Key Points

Power Portfolio[1]
As of H1FY24, company has 14,381 MW energy capacity which includes 8,860MW Thermal, 1,007 MW Wind, 880 MW Hydro, 443MW Waste Heat Recovery /BFG, 3191 MW solar and 3,760MW Renewable capacity under construction. The company has 2.8 GW MoU signed for Pumped Hydro Project (PSP), >Rs. 18,700 Cr Solar EPC order book- Large Scale Utility, Group Captive and Rooftop EPC and >11.5 GW EPC large projects executed and under pipeline. The company has >4,900 Public EV charging points across 442 cities/towns. ~4.9Gw manufacturing capacity including 4.3GW each of Cell & Module is operational/under construction.

  • Market Cap 1,25,960 Cr.
  • Current Price 394
  • High / Low 433 / 188
  • Stock P/E 82.6
  • Book Value 44.0
  • Dividend Yield 0.51 %
  • ROCE 14.6 %
  • ROE 22.1 %
  • Face Value 1.00

Pros

  • Company has delivered good profit growth of 20.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 69.5%

Cons

  • Stock is trading at 8.97 times its book value
  • Company has low interest coverage ratio.
  • Earnings include an other income of Rs.1,991 Cr.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
1,658 3,213 2,791 1,839 3,139 3,120 4,829 4,552 5,296 3,051 5,192 5,014 4,926
1,161 2,921 1,879 1,341 2,747 2,868 4,721 4,356 4,385 2,654 4,149 3,994 4,029
Operating Profit 497 292 912 498 392 252 108 196 911 396 1,043 1,020 897
OPM % 30% 9% 33% 27% 12% 8% 2% 4% 17% 13% 20% 20% 18%
676 376 493 2,104 90 1,416 1,163 2,175 1,930 626 443 316 606
Interest 366 551 571 356 553 528 563 556 539 569 598 588 533
Depreciation 168 303 276 150 286 287 291 286 289 302 290 287 284
Profit before tax 638 -185 558 2,095 -357 853 417 1,529 2,013 151 599 462 685
Tax % 10% 37% 37% 11% -14% -113% -1% 21% 25% 6% 25% 11% 23%
575 -117 354 1,875 -407 1,820 421 1,200 1,504 142 446 410 527
EPS in Rs 1.80 -0.37 1.11 5.87 -1.27 5.70 1.32 3.76 4.71 0.44 1.40 1.28 1.65
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 TTM
8,496 9,568 8,630 8,208 8,691 6,924 7,537 8,255 7,726 13,169 11,108 17,728 18,183
6,711 7,537 6,340 6,521 5,730 4,947 5,261 7,563 5,215 10,494 9,550 16,116 14,827
Operating Profit 1,785 2,032 2,291 1,686 2,961 1,977 2,276 692 2,512 2,676 1,558 1,612 3,356
OPM % 21% 21% 27% 21% 34% 29% 30% 8% 33% 20% 14% 9% 18%
983 720 656 1,452 524 465 -3,497 3,662 -375 1,451 4,055 5,893 1,991
Interest 515 684 868 1,047 1,146 1,319 1,431 1,500 1,510 2,497 2,189 2,227 2,288
Depreciation 570 364 587 575 604 605 663 633 686 1,235 1,134 1,167 1,163
Profit before tax 1,683 1,703 1,491 1,516 1,734 518 -3,316 2,221 -60 395 2,290 4,111 1,897
Tax % 30% 40% 36% 33% 22% 23% 5% 20% 348% 26% -22% 21%
1,170 1,025 954 1,010 1,355 398 -3,151 1,769 148 294 2,783 3,268 1,526
EPS in Rs 4.32 3.79 3.53 3.74 5.01 1.47 -11.65 6.54 0.55 0.92 8.71 10.23 4.77
Dividend Payout % 25% 27% 31% 35% 26% 88% -11% 20% 283% 169% 20% 20%
Compounded Sales Growth
10 Years: 6%
5 Years: 19%
3 Years: 32%
TTM: 2%
Compounded Profit Growth
10 Years: 11%
5 Years: 21%
3 Years: 37%
TTM: -72%
Stock Price CAGR
10 Years: 17%
5 Years: 40%
3 Years: 56%
1 Year: 113%
Return on Equity
10 Years: 9%
5 Years: 10%
3 Years: 14%
Last Year: 22%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Sep 2023
Equity Capital 237 237 237 270 270 270 270 270 270 320 320 320 320
Reserves 11,584 12,024 12,890 15,458 15,080 16,321 12,718 15,419 14,991 9,559 10,560 13,380 13,724
7,906 10,069 11,080 11,037 11,229 16,504 16,571 17,453 18,081 27,210 27,567 24,920 24,624
5,254 5,763 6,331 6,796 8,035 7,737 6,942 4,992 4,274 7,367 8,706 9,553 9,602
Total Liabilities 24,981 28,093 30,539 33,561 34,615 40,832 36,502 38,135 37,616 44,456 47,153 48,173 48,269
7,173 7,775 8,599 9,601 8,392 8,549 7,967 7,630 8,036 24,494 23,746 23,722 23,289
CWIP 610 715 775 549 695 921 419 368 403 322 965 1,273 1,632
Investments 9,793 11,118 12,362 13,251 14,032 22,470 18,392 21,313 21,347 10,208 10,779 12,129 12,272
7,406 8,485 8,803 10,161 11,495 8,892 9,724 8,824 7,830 9,431 11,663 11,049 11,075
Total Assets 24,981 28,093 30,539 33,561 34,615 40,832 36,502 38,135 37,616 44,456 47,153 48,173 48,269

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
651 438 2,700 1,688 2,947 2,121 2,767 1,683 2,309 3,334 1,684 500
-1,988 -1,494 -2,343 -1,625 -1,627 -5,582 -1,355 -557 -471 -1,174 1,587 5,124
1,163 797 -703 148 -1,701 3,718 -1,605 -996 -1,753 -2,618 -3,635 -5,350
Net Cash Flow -174 -260 -346 211 -381 257 -192 131 85 -458 -364 274

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023
Debtor Days 43 50 56 70 44 65 47 56 52 44 34 39
Inventory Days
Days Payable
Cash Conversion Cycle 43 50 56 70 44 65 47 56 52 44 34 39
Working Capital Days 16 -10 -108 -49 8 -293 -123 -2 5 -26 -4 -38
ROCE % 11% 11% 10% 10% 12% 8% 8% 7% 7% 8% 9% 15%

Shareholding Pattern

Numbers in percentages

Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023
46.86% 46.86% 46.86% 46.86% 46.86% 46.86% 46.86% 46.86% 46.86% 46.86% 46.86% 46.86%
12.17% 11.26% 11.06% 10.84% 10.82% 10.10% 10.28% 9.63% 9.45% 9.75% 10.00% 9.85%
20.06% 16.62% 19.90% 15.58% 15.89% 14.70% 14.19% 14.32% 14.16% 14.59% 15.68% 16.11%
0.80% 0.54% 0.54% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32%
20.11% 24.73% 21.64% 26.41% 26.12% 28.02% 28.32% 28.87% 29.21% 28.48% 27.15% 26.87%
No. of Shareholders 9,86,43313,92,98217,04,51731,65,13434,30,59838,82,48238,59,60938,45,53338,90,51838,27,76538,07,72539,80,328

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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