Torrent Power Ltd., incorporated in the year 2004, is a Mid Cap company (having a market cap of Rs 15894.00 Crore) operating in Power sector.
Financials
For the quarter ended 31-12-2020, the company reported a Consolidated sales of Rs 2952.75 Crore, down 5.62 % from last quarter Sales of Rs 3128.73 Crore and down 4.10 % from last year same quarter Sales of Rs 3079.00 Crore. Company reported net profit after tax of Rs 321.73 Crore in latest quarter.
Investment Rationale
The COVID-19 outbreak has impacted the DF business. However, demand and collections have recovered and profitability is expected to bounce back in FY22E. Outlook for TPW’s gas plants has improved with the recent offtake of UnoSugen PPA. Continued capitalization within regulated distribution and debt repayment would aid earnings. The company remains well poised to capitalize on opportunities from privatization of distribution companies.
Promoter/FII Holdings
Promoters held 53.6 per cent stake in the company as of Dec 30, 2020, while FIIs held 9.1 per cent, DIIs 19.5 per cent and public and others 17.9 per cent.
