Tata Power Company Ltd

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 roofsamd plans to build 1 lakh ev charging stations by 2025[1]

Key Points

Power Portfolio
Presently, the company has a total capacity of ~12,800 MW from its various thermal, hydro, Renewable, WHR power projects across India.
Out of the total capacity, thermal accounts for ~69%, followed by solar (14%), wind (7%), hydro (7%) and Waste-heat recovery (3%).[1]

The company also owns 4,000 MW Ultra Mega Power Project at Mundra based on super-critical coal technology. This project alone accounts for ~31% of total capacity and ~45% of thermal capacity of the company.[2]

See full details
  • Market Cap 71,128 Cr.
  • Current Price 223
  • High / Low 237 / 51.6
  • Stock P/E 61.3
  • Book Value 52.8
  • Dividend Yield 0.70 %
  • ROCE 6.67 %
  • ROE 4.84 %
  • Face Value 1.00

Pros

  • Company has been maintaining a healthy dividend payout of 118.90%

Cons

  • Stock is trading at 4.21 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -6.59% over past five years.
  • Company has a low return on equity of 5.42% for last 3 years.
  • Earnings include an other income of Rs.1807.63 Cr.
Loading peers table ...

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
1,853 2,275 2,169 2,037 1,993 1,932 1,764 1,412 1,550 1,658 1,560 1,818
1,459 1,454 1,583 1,447 1,401 1,383 1,635 932 1,109 1,161 1,296 1,308
Operating Profit 394 821 587 590 593 549 129 480 441 497 264 510
OPM % 21% 36% 27% 29% 30% 28% 7% 34% 28% 30% 17% 28%
Other Income 423 71 55 280 121 1 -126 146 336 676 369 426
Interest 333 379 444 387 385 378 360 391 387 366 374 389
Depreciation 158 157 161 163 162 188 172 163 167 168 170 147
Profit before tax 326 355 37 320 166 -17 -529 72 223 638 89 401
Tax % 19% 24% -89% 7% 7% 142% 41% 38% 35% 10% -76% 51%
Net Profit 265 271 69 297 155 7 -310 45 145 575 157 198
EPS in Rs 0.98 1.00 0.26 1.10 0.57 0.03 -1.15 0.17 0.45 1.80 0.49 0.62

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 TTM
7,098 6,918 8,496 9,568 8,630 8,208 8,691 6,924 7,537 8,255 7,726 6,181 6,587
5,242 5,330 6,711 7,537 6,340 6,521 5,730 4,947 5,261 7,563 5,215 4,410 4,874
Operating Profit 1,856 1,588 1,785 2,032 2,291 1,686 2,961 1,977 2,276 692 2,512 1,771 1,712
OPM % 26% 23% 21% 21% 27% 21% 34% 29% 30% 8% 33% 29% 26%
Other Income 302 494 983 720 656 1,452 524 465 -3,497 3,662 -375 1,439 1,808
Interest 423 460 515 684 868 1,047 1,146 1,319 1,431 1,500 1,510 1,519 1,516
Depreciation 478 510 570 364 587 575 604 605 663 633 686 669 652
Profit before tax 1,258 1,112 1,683 1,703 1,491 1,516 1,734 518 -3,316 2,221 -60 1,022 1,352
Tax % 25% 15% 30% 40% 36% 33% 22% 23% 5% 20% 348% 10%
Net Profit 939 941 1,170 1,025 954 1,010 1,355 398 -3,151 1,769 148 921 1,075
EPS in Rs 3.47 3.48 4.32 3.79 3.53 3.74 5.01 1.47 -11.65 6.54 0.55 2.88 3.36
Dividend Payout % 30% 32% 25% 27% 31% 35% 26% 88% -11% 20% 283% 54%
Compounded Sales Growth
10 Years:-1%
5 Years:-7%
3 Years:-6%
TTM:-7%
Compounded Profit Growth
10 Years:-2%
5 Years:-14%
3 Years:-11%
TTM:3378%
Stock Price CAGR
10 Years:9%
5 Years:23%
3 Years:45%
1 Year:311%
Return on Equity
10 Years:7%
5 Years:6%
3 Years:5%
Last Year:5%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
237 237 237 237 237 270 270 270 270 270 270 320
Reserves 10,386 11,003 11,584 12,024 12,890 15,458 15,080 16,321 12,718 13,919 13,491 16,559
Borrowings 5,872 6,981 7,906 10,069 11,080 11,037 11,229 16,504 16,571 17,453 18,081 20,789
2,376 2,984 5,254 5,763 6,331 6,796 8,035 7,737 6,942 6,492 5,774 5,202
Total Liabilities 18,872 21,205 24,981 28,093 30,539 33,561 34,615 40,832 36,502 38,135 37,616 42,869
5,753 5,783 7,173 7,775 8,599 9,601 8,392 8,549 7,967 7,630 8,036 8,256
CWIP 476 1,029 610 715 775 549 695 921 419 368 403 285
Investments 6,689 7,940 9,793 11,118 12,362 13,251 14,032 22,470 18,392 21,313 21,347 26,368
5,954 6,453 7,406 8,485 8,803 10,161 11,495 8,892 9,724 8,824 7,830 7,959
Total Assets 18,872 21,205 24,981 28,093 30,539 33,561 34,615 40,832 36,502 38,135 37,616 42,869

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
1,353 1,632 651 438 2,700 1,688 2,947 2,121 2,767 1,683 2,309 2,328
-1,872 -2,584 -1,988 -1,494 -2,343 -1,625 -1,627 -5,582 -1,355 -557 -471 -5,506
1,793 477 1,163 797 -703 148 -1,701 3,718 -1,605 -996 -1,753 3,137
Net Cash Flow 1,273 -476 -174 -260 -346 211 -381 257 -192 131 85 -41

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
Debtor Days 102 44 43 50 56 70 44 65 47 56 52 54
Inventory Days
Days Payable
Cash Conversion Cycle 102 44 43 50 56 70 44 65 47 56 52 54
Working Capital Days 129 -19 28 7 -10 -28 11 -15 76 85 88 68
ROCE % 11% 9% 11% 11% 10% 10% 12% 8% 8% 7% 8% 7%

Shareholding Pattern

Numbers in percentages

Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021
33.00 33.00 33.00 33.00 36.21 36.21 37.22 37.22 46.86 46.86 46.86 46.86
27.46 26.06 26.57 25.96 24.16 20.99 18.62 12.89 10.85 12.44 12.17 11.26
24.56 25.53 24.66 24.65 23.44 26.27 26.89 30.42 25.88 23.72 20.06 16.62
0.01 0.26 0.26 0.26 0.45 0.45 0.95 0.95 0.80 0.80 0.80 0.54
14.97 15.15 15.52 16.13 15.74 16.08 16.33 18.52 15.61 16.18 20.11 24.73

Documents