Torrent Power Ltd

About [ edit ]

Torrent Power is engaged in the business of generation, transmission and distribution of Electricity and of manufacture and sale of Cables.(Source : 202003-01 Annual Report Page No:111)

  • Market Cap 18,468 Cr.
  • Current Price 384
  • High / Low 435 / 286
  • Stock P/E 11.4
  • Book Value 203
  • Dividend Yield 3.02 %
  • ROCE 13.5 %
  • ROE 18.4 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is providing a good dividend yield of 3.02%.
  • Company has been maintaining a healthy dividend payout of 32.71%

Cons

  • The company has delivered a poor sales growth of 5.68% over past five years.
  • Tax rate seems low
  • Company has a low return on equity of 13.79% for last 3 years.
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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2018 Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020
2,798 3,485 3,381 3,218 2,893 3,686 3,777 3,048 2,931 2,938 3,012 2,867
2,119 2,756 2,453 2,515 2,212 2,900 2,785 2,235 2,099 2,032 2,371 2,039
Operating Profit 679 729 929 703 681 787 992 813 831 907 640 828
OPM % 24% 21% 27% 22% 24% 21% 26% 27% 28% 31% 21% 29%
Other Income 107 66 67 72 56 68 63 57 -943 52 62 62
Interest 209 227 223 227 214 233 230 220 208 207 188 171
Depreciation 295 286 289 292 297 305 306 308 311 292 291 295
Profit before tax 282 282 485 256 226 317 519 341 -631 459 223 423
Tax % 24% 21% 17% 7% 88% 13% -43% -29% 65% 20% 12% 18%
Net Profit 215 221 402 239 27 276 744 440 -222 366 196 346
EPS in Rs 4.48 4.60 8.37 4.98 0.56 5.75 15.47 9.16 -4.62 7.62 4.08 7.19

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 TTM
4,281 5,775 6,781 7,868 8,090 8,536 10,200 11,626 9,921 11,449 12,978 13,442 11,748
3,593 4,073 4,735 5,615 6,791 7,319 8,186 8,621 7,493 8,390 9,936 10,055 8,541
Operating Profit 687 1,702 2,046 2,253 1,299 1,216 2,014 3,006 2,428 3,058 3,042 3,387 3,206
OPM % 16% 29% 30% 29% 16% 14% 20% 26% 24% 27% 23% 25% 27%
Other Income 136 134 102 104 140 242 350 283 192 268 262 -719 -768
Interest 155 314 327 312 408 677 706 1,116 1,047 840 892 892 775
Depreciation 183 335 393 366 408 535 548 899 989 1,111 1,163 1,230 1,189
Profit before tax 485 1,186 1,428 1,679 623 246 1,109 1,273 584 1,376 1,248 546 475
Tax % 16% 29% 25% 26% 38% 62% 33% 29% 26% 33% 29% -127%
Net Profit 408 837 1,066 1,237 385 95 742 899 432 922 889 1,238 686
EPS in Rs 8.63 17.71 22.56 26.19 8.15 2.01 15.71 18.71 9.00 19.18 18.50 25.76 14.27
Dividend Payout % 23% 17% 24% 25% 25% 25% 10% 24% 24% 26% 27% 45%
Compounded Sales Growth
10 Years:9%
5 Years:6%
3 Years:11%
TTM:-12%
Compounded Profit Growth
10 Years:7%
5 Years:18%
3 Years:61%
TTM:8%
Stock Price CAGR
10 Years:5%
5 Years:10%
3 Years:17%
1 Year:29%
Return on Equity
10 Years:12%
5 Years:12%
3 Years:14%
Last Year:18%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Sep 2020
472 472 472 472 472 472 472 481 481 481 481 481 481
Reserves 2,761 3,488 4,315 5,275 5,618 5,704 6,436 5,978 6,404 7,212 8,456 8,707 9,267
Borrowings 3,607 3,615 2,615 3,704 4,919 6,149 5,629 8,392 8,666 9,216 9,116 8,302 7,142
1,572 2,079 2,695 2,378 2,675 2,969 3,318 4,650 5,064 5,193 5,772 5,390 6,272
Total Liabilities 8,413 9,654 10,098 11,830 13,685 15,294 15,856 19,501 20,615 22,102 23,825 22,880 23,162
3,638 6,532 6,614 7,096 7,278 9,298 9,100 14,907 16,599 16,806 17,012 15,791 15,519
CWIP 2,867 171 385 1,337 2,075 118 166 204 323 393 359 568 563
Investments 158 358 964 1,270 1,713 2,612 2,658 695 754 989 1,162 1,021 999
1,750 2,594 2,135 2,126 2,620 3,266 3,932 3,694 2,939 3,915 5,291 5,500 6,081
Total Assets 8,413 9,654 10,098 11,830 13,685 15,294 15,856 19,501 20,615 22,102 23,825 22,880 23,162

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
668 1,666 1,695 1,531 1,513 1,272 1,640 2,502 2,312 2,803 2,334 3,494
-794 -547 -960 -1,546 -2,288 -1,225 -357 -913 -2,111 -2,493 -1,231 -1,121
554 -420 -546 -39 696 532 -1,161 -2,126 -640 -278 -1,123 -2,408
Net Cash Flow 429 699 189 -54 -79 579 122 -537 -439 32 -20 -35

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2009 Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020
ROCE % 10% 21% 23% 24% 10% 8% 15% 17% 10% 13% 12% 14%
Debtor Days 42 34 27 30 33 34 31 33 36 36 33 32
Inventory Turnover 19.09 21.08 18.67 16.73 21.33 23.78 26.61 21.50 16.48 17.38 15.67 13.65

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
53.57 53.57 53.57 53.57 53.57 53.57 53.57 53.57 53.57 53.57 53.57 53.57
5.19 5.78 7.06 7.81 7.91 7.48 8.09 8.75 8.52 9.08 9.06 8.45
18.45 18.09 16.86 15.94 16.76 19.02 18.45 18.10 18.44 17.97 18.01 18.77
1.47 1.47 1.47 1.47 1.47 1.47 1.47 1.47 1.47 1.47 1.47 1.47
21.33 21.10 21.05 21.21 20.29 18.47 18.43 18.11 18.01 17.92 17.90 17.75

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