Tata Power Company Ltd

Tata Power Company Ltd

₹ 439 -1.12%
21 Jun - 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 1,40,180 Cr.
  • Current Price 439
  • High / Low 464 / 216
  • Stock P/E 39.8
  • Book Value 101
  • Dividend Yield 0.46 %
  • ROCE 11.3 %
  • ROE 11.5 %
  • Face Value 1.00

Pros

  • Company has delivered good profit growth of 74.9% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 22.8%

Cons

  • Stock is trading at 4.33 times its book value
  • Company has a low return on equity of 11.3% over last 3 years.

* 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

Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024
10,363 10,132 9,810 10,913 11,960 14,495 14,031 14,129 12,454 15,213 15,738 14,651 15,847
8,937 7,984 8,481 9,279 10,091 12,812 12,270 11,810 10,526 12,500 12,967 12,234 13,540
Operating Profit 1,425 2,149 1,329 1,634 1,869 1,683 1,760 2,319 1,928 2,713 2,771 2,417 2,307
OPM % 14% 21% 14% 15% 16% 12% 13% 16% 15% 18% 18% 16% 15%
502 582 1,026 865 62 1,227 1,502 1,497 1,352 877 567 1,092 1,407
Interest 890 945 946 953 1,015 1,026 1,052 1,098 1,196 1,221 1,182 1,094 1,136
Depreciation 663 747 771 758 846 822 838 853 926 893 926 926 1,041
Profit before tax 373 1,038 638 788 71 1,062 1,373 1,864 1,158 1,476 1,231 1,489 1,537
Tax % -29% 55% 21% 30% -794% 17% 32% 44% 19% 23% 17% 28% 32%
481 466 506 552 632 884 935 1,052 939 1,141 1,017 1,076 1,046
EPS in Rs 1.23 1.22 1.32 1.33 1.57 2.49 2.56 2.96 2.43 3.04 2.74 2.98 2.80
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
33,177 35,726 33,593 29,494 27,588 26,840 29,881 29,136 32,703 42,816 55,109 61,449
27,583 28,810 27,292 27,389 22,114 24,545 26,811 23,847 25,747 35,785 47,381 50,665
Operating Profit 5,595 6,916 6,301 2,105 5,473 2,295 3,070 5,289 6,956 7,031 7,728 10,784
OPM % 17% 19% 19% 7% 20% 9% 10% 18% 21% 16% 14% 18%
375 229 1,056 4,060 1,297 6,586 7,186 3,796 1,739 2,486 5,540 3,368
Interest 2,642 3,440 3,699 3,236 3,365 3,761 4,170 4,494 4,010 3,859 4,372 4,633
Depreciation 2,052 2,730 2,174 1,649 1,956 2,346 2,393 2,634 2,745 3,122 3,439 3,786
Profit before tax 1,277 975 1,484 1,281 1,450 2,773 3,693 1,958 1,941 2,535 5,457 5,732
Tax % 92% 103% 72% 53% 24% 6% 29% 33% 26% 15% 30% 25%
123 12 457 786 1,100 2,611 2,606 1,316 1,439 2,156 3,810 4,280
EPS in Rs -0.32 -0.96 0.62 2.45 3.31 8.90 8.71 3.76 3.53 5.45 10.44 11.57
Dividend Payout % -319% -114% 210% 53% 39% 15% 15% 41% 44% 32% 19% 17%
Compounded Sales Growth
10 Years: 6%
5 Years: 16%
3 Years: 23%
TTM: 12%
Compounded Profit Growth
10 Years: 77%
5 Years: 75%
3 Years: 45%
TTM: 9%
Stock Price CAGR
10 Years: 15%
5 Years: 46%
3 Years: 54%
1 Year: 101%
Return on Equity
10 Years: 7%
5 Years: 9%
3 Years: 11%
Last Year: 12%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Equity Capital 237 237 270 270 270 270 270 270 320 320 320 320
Reserves 12,098 12,164 14,048 11,363 12,944 16,129 18,035 19,296 22,003 22,122 28,468 32,036
Preference Capital 0 0 0 0 0 245 0 0 0 0 0
37,882 40,173 40,607 38,849 48,815 48,344 48,506 51,936 46,708 51,195 52,923 53,689
17,038 18,810 20,260 19,575 20,799 17,148 17,262 18,172 29,625 38,913 46,386 53,509
Total Liabilities 67,257 71,383 75,185 70,057 82,829 81,892 84,073 89,674 98,655 112,550 128,096 139,553
41,353 43,394 44,726 36,414 46,595 44,656 44,305 47,666 52,179 57,389 61,747 67,210
CWIP 2,358 3,389 3,323 1,345 2,178 1,653 2,576 1,612 3,270 4,635 5,376 11,561
Investments 3,120 3,019 3,445 11,785 11,873 12,429 13,542 14,535 13,149 14,160 16,670 16,296
20,426 21,582 23,692 20,513 22,184 23,154 23,651 25,861 30,056 36,365 44,303 44,487
Total Assets 67,257 71,383 75,185 70,057 82,829 81,892 84,073 89,674 98,655 112,550 128,096 139,553

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
3,286 6,483 5,981 7,415 7,014 6,364 4,574 7,375 8,345 6,693 7,159 12,596
-4,026 -3,609 -3,865 -1,805 -7,373 -1,512 -272 -493 993 -6,250 -7,257 -9,035
-593 -3,265 -2,239 -6,183 937 -4,726 -5,184 -5,110 -7,603 -1,183 1,341 -4,497
Net Cash Flow -1,333 -392 -123 -574 579 126 -883 1,773 1,736 -741 1,243 -936

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024
Debtor Days 36 46 60 44 51 38 54 55 58 51 46 44
Inventory Days 297
Days Payable 627
Cash Conversion Cycle 36 46 60 44 51 38 54 55 58 51 46 -286
Working Capital Days -38 -57 -40 -34 -105 -80 -4 2 -53 -50 -44 -62
ROCE % 8% 8% 9% 5% 9% 6% 7% 7% 8% 9% 12%

Shareholding Pattern

Numbers in percentages

Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
46.86% 46.86% 46.86% 46.86% 46.86% 46.86% 46.86% 46.86% 46.86% 46.86% 46.86% 46.86%
11.26% 11.06% 10.84% 10.82% 10.10% 10.28% 9.63% 9.45% 9.75% 10.00% 9.85% 9.44%
16.62% 19.90% 15.58% 15.89% 14.70% 14.19% 14.32% 14.16% 14.59% 15.68% 16.11% 15.47%
0.54% 0.54% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.32% 0.33%
24.73% 21.64% 26.41% 26.12% 28.02% 28.32% 28.87% 29.21% 28.48% 27.15% 26.87% 27.91%
No. of Shareholders 13,92,98217,04,51731,65,13434,30,59838,82,48238,59,60938,45,53338,90,51838,27,76538,07,72539,80,32844,35,226

* 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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