Tata Power Company Ltd

₹ 208 2.44%
24 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 roofsamd plans to build 1 lakh ev charging stations by 2025[1]

Key Points

Power Portfolio
Presently, the company has a total capacity of ~12,808MW 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]

  • Market Cap 66,431 Cr.
  • Current Price 208
  • High / Low 298 / 118
  • Stock P/E 36.5
  • Book Value 70.2
  • Dividend Yield 0.84 %
  • 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 39.09%

Cons

  • Stock is trading at 2.96 times its book value
  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of 9.19% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 5.53% for last 3 years.
  • Earnings include an other income of Rs.2853.47 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.

Loading peers table ...

Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
7,767 7,678 7,071 6,621 6,453 8,290 7,598 10,363 10,132 9,810 10,913 11,960
5,684 5,776 5,280 5,413 4,744 6,323 5,864 8,937 7,984 8,481 9,279 10,709
Operating Profit 2,083 1,902 1,791 1,208 1,708 1,967 1,734 1,425 2,149 1,329 1,634 1,250
OPM % 27% 25% 25% 18% 26% 24% 23% 14% 21% 14% 15% 10%
267 419 360 1,068 483 486 391 502 582 1,026 865 681
Interest 1,144 1,130 1,129 1,091 1,089 1,065 966 890 945 946 953 1,015
Depreciation 620 654 672 687 644 699 738 663 747 771 758 846
Profit before tax 586 536 350 498 457 689 421 373 1,038 638 788 71
Tax % 59% 35% 26% 5% 41% 46% 24% -29% 55% 21% 30% -794%
Net Profit 164 270 193 403 207 280 248 393 391 422 426 503
EPS in Rs 0.60 1.00 0.71 1.49 0.76 0.88 0.78 1.23 1.22 1.32 1.33 1.57

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
19,460 26,069 33,177 35,726 33,593 29,494 27,588 26,840 29,881 29,136 32,703 42,816
14,874 21,185 27,583 28,810 27,292 27,389 22,114 24,545 26,811 23,847 25,747 36,153
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
OPM % 24% 19% 17% 19% 19% 7% 20% 9% 10% 18% 21% 16%
419 -1,515 375 229 1,056 4,060 1,297 6,586 7,186 3,796 1,739 2,853
Interest 868 1,527 2,642 3,440 3,699 3,236 3,365 3,761 4,170 4,494 4,010 3,859
Depreciation 980 1,335 2,052 2,730 2,174 1,649 1,956 2,346 2,393 2,634 2,745 3,122
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
Tax % 31% 291% 92% 103% 72% 53% 24% 6% 29% 33% 26% 15%
Net Profit 2,060 -1,088 -85 -260 168 662 897 2,408 2,356 1,017 1,127 1,741
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
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: 31%
Compounded Profit Growth
10 Years: 17%
5 Years: 9%
3 Years: 104%
TTM: 57%
Stock Price CAGR
10 Years: 8%
5 Years: 21%
3 Years: 45%
1 Year: 72%
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
237 237 237 237 270 270 270 516 270 270 320 320
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
24,742 33,860 37,882 40,173 40,607 38,849 48,815 48,344 48,506 51,936 46,708 51,195
11,568 15,070 17,038 18,810 20,260 19,575 20,799 18,648 18,762 19,672 31,125 38,913
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
16,037 27,653 41,353 43,394 44,726 36,414 46,595 44,656 44,305 47,666 52,179 57,389
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
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
12,776 17,868 20,426 21,582 23,692 20,513 22,184 23,154 23,651 25,861 30,056 36,365
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

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

Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022
33.00 36.21 36.21 37.22 37.22 46.86 46.86 46.86 46.86 46.86 46.86 46.86
25.96 24.16 20.99 18.62 12.89 10.85 12.44 12.17 11.26 11.06 10.84 10.82
24.65 23.44 26.27 26.89 30.42 25.88 23.72 20.06 16.62 19.90 15.58 15.89
0.26 0.45 0.45 0.95 0.95 0.80 0.80 0.80 0.54 0.54 0.32 0.32
16.13 15.74 16.08 16.33 18.52 15.61 16.18 20.11 24.73 21.64 26.41 26.12

Documents