Tata Power Company Ltd

₹ 205 -0.48%
03 Feb - 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]

Key Points

Power Portfolio
Presently, the company has a total capacity of ~13,985MW from its various thermal, hydro, Renewable, WHR power projects across India.
Out of the total capacity, thermal accounts for ~57%, followed by solar (25%), wind (8%), hydro (7%) and Waste-heat recovery (3%).[1]

  • Market Cap 65,600 Cr.
  • Current Price 205
  • High / Low 298 / 190
  • Stock P/E 21.4
  • Book Value 80.4
  • Dividend Yield 0.85 %
  • ROCE 9.30 %
  • ROE 8.42 %
  • Face Value 1.00

Pros

  • Company is expected to give good quarter
  • Company has been maintaining a healthy dividend payout of 39.1%

Cons

  • Stock is trading at 2.55 times its book value
  • The company has delivered a poor sales growth of 9.19% over past five years.
  • Company has a low return on equity of 5.53% over last 3 years.
  • Earnings include an other income of Rs.4,906 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

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
7,071 6,621 6,453 8,290 7,598 10,363 10,132 9,810 10,913 11,960 14,495 14,031 14,129
5,280 5,413 4,744 6,323 5,864 8,937 7,984 8,481 9,279 10,709 12,812 12,270 11,810
Operating Profit 1,791 1,208 1,708 1,967 1,734 1,425 2,149 1,329 1,634 1,250 1,683 1,760 2,319
OPM % 25% 18% 26% 24% 23% 14% 21% 14% 15% 10% 12% 13% 16%
360 1,068 483 486 391 502 582 1,026 865 681 1,227 1,502 1,497
Interest 1,129 1,091 1,089 1,065 966 890 945 946 953 1,015 1,026 1,052 1,098
Depreciation 672 687 644 699 738 663 747 771 758 846 822 838 853
Profit before tax 350 498 457 689 421 373 1,038 638 788 71 1,062 1,373 1,864
Tax % 26% 5% 41% 46% 24% -29% 55% 21% 30% -794% 17% 32% 44%
Net Profit 260 475 268 371 318 481 466 506 552 632 884 935 1,052
EPS in Rs 0.71 1.49 0.76 0.88 0.78 1.23 1.22 1.32 1.33 1.57 2.49 2.56 2.96
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
19,460 26,069 33,177 35,726 33,593 29,494 27,588 26,840 29,881 29,136 32,703 42,816 54,615
14,874 21,185 27,583 28,810 27,292 27,389 22,114 24,545 26,811 23,847 25,747 36,153 47,602
Operating Profit 4,586 4,884 5,595 6,916 6,301 2,105 5,473 2,295 3,070 5,289 6,956 6,663 7,013
OPM % 24% 19% 17% 19% 19% 7% 20% 9% 10% 18% 21% 16% 13%
419 -1,515 375 229 1,056 4,060 1,297 6,586 7,186 3,796 1,739 2,853 4,906
Interest 868 1,527 2,642 3,440 3,699 3,236 3,365 3,761 4,170 4,494 4,010 3,859 4,191
Depreciation 980 1,335 2,052 2,730 2,174 1,649 1,956 2,346 2,393 2,634 2,745 3,122 3,359
Profit before tax 3,157 507 1,277 975 1,484 1,281 1,450 2,773 3,693 1,958 1,941 2,535 4,370
Tax % 31% 291% 92% 103% 72% 53% 24% 6% 29% 33% 26% 15%
Net Profit 2,256 -898 123 12 457 786 1,100 2,611 2,606 1,316 1,439 2,156 3,503
EPS in Rs 7.61 -4.02 -0.32 -0.96 0.62 2.45 3.31 8.90 8.71 3.76 3.53 5.45 9.58
Dividend Payout % 14% -27% -319% -114% 210% 53% 39% 15% 15% 41% 44% 32%
Compounded Sales Growth
10 Years: 5%
5 Years: 9%
3 Years: 13%
TTM: 33%
Compounded Profit Growth
10 Years: 17%
5 Years: 9%
3 Years: 104%
TTM: 88%
Stock Price CAGR
10 Years: 8%
5 Years: 20%
3 Years: 53%
1 Year: -19%
Return on Equity
10 Years: 4%
5 Years: 4%
3 Years: 6%
Last Year: 8%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
237 237 237 237 270 270 270 516 270 270 320 320 320
Reserves 13,789 12,437 12,098 12,164 14,048 11,363 12,944 14,629 16,535 17,796 20,503 22,122 25,363
24,742 33,860 37,882 40,173 40,607 38,849 48,815 48,344 48,506 51,936 46,708 51,195 53,251
11,568 15,070 17,038 18,810 20,260 19,575 20,799 18,648 18,762 19,672 31,125 38,913 42,616
Total Liabilities 50,337 61,604 67,257 71,383 75,185 70,057 82,829 81,892 84,073 89,674 98,655 112,550 121,549
16,037 27,653 41,353 43,394 44,726 36,414 46,595 44,656 44,305 47,666 52,179 57,389 59,259
CWIP 18,682 12,659 2,358 3,389 3,323 1,345 2,178 1,653 2,576 1,612 3,270 4,635 3,668
Investments 2,841 3,423 3,120 3,019 3,445 11,785 11,873 12,429 13,542 14,535 13,149 14,160 17,851
12,776 17,868 20,426 21,582 23,692 20,513 22,184 23,154 23,651 25,861 30,056 36,365 40,772
Total Assets 50,337 61,604 67,257 71,383 75,185 70,057 82,829 81,892 84,073 89,674 98,655 112,550 121,549

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
3,289 1,147 3,286 6,483 5,981 7,415 7,014 6,364 4,574 7,375 8,345 6,693
-8,920 -5,963 -4,026 -3,609 -3,865 -1,805 -7,373 -1,512 -272 -493 993 -6,250
5,414 5,798 -593 -3,265 -2,239 -6,183 937 -4,726 -5,184 -5,110 -7,603 -1,183
Net Cash Flow -216 981 -1,333 -392 -123 -574 579 126 -883 1,773 1,736 -741

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 31 32 36 46 60 44 51 38 54 55 58 51
Inventory Days
Days Payable
Cash Conversion Cycle 31 32 36 46 60 44 51 38 54 55 58 51
Working Capital Days -71 -56 -38 -57 -40 -34 -105 -80 -4 2 -53 -50
ROCE % 12% 9% 8% 8% 10% 6% 10% 6% 7% 7% 9% 9%

Shareholding Pattern

Numbers in percentages

1 recently
Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
37.22 37.22 46.86 46.86 46.86 46.86 46.86 46.86 46.86 46.86 46.86 46.86
18.62 12.89 10.85 12.44 12.17 11.26 11.06 10.84 10.82 10.10 10.28 9.63
26.89 30.42 25.88 23.72 20.06 16.62 19.90 15.58 15.89 14.70 14.19 14.32
0.95 0.95 0.80 0.80 0.80 0.54 0.54 0.32 0.32 0.32 0.32 0.32
16.33 18.52 15.61 16.18 20.11 24.73 21.64 26.41 26.12 28.02 28.32 28.87

* 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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