Tata Power Company Limited is primarily involved in the business of the generation, transmission, and distribution of electricity and is India's largest integrated power company. Founded in 1915 in the rural hinterland of Maharashtra, the company was rooted in the vision of Jamsetji Tata, setting about on a journey fueled by the idea of not just providing electricity but igniting a nation's potential. The company is a leading integrated power company and a part of the Tata group, India's largest multi-national business conglomerate.
The company has a diversified portfolio of 14,707 MW, spanning across the entire power value chain - from renewable and conventional energy generation to transmission & distribution, trading, storage solutions, and solar cells and module manufacturing. Tata Power has successfully partnered with public and private entities in generation, transmission & distribution sectors in India, serving approximately 12.5 million customers across the country.
Transmission & Distribution contributes 62% of revenue in 9M FY25 versus 59% in FY22. The company has a transmission network of 4,633 Ckm across Mumbai, UP, West Bengal, Bihar, Rajasthan, and Haryana. Its distribution operations serve 12.5 million customers across Mumbai, Odisha, and Delhi through Tata Power Delhi Distribution Ltd (TPDDL) and Ajmer through TP Ajmer Distribution Ltd (TPADL).
The company's segments include Generation, Renewables, Transmission and Distribution, and Others. The Generation segment comprises generation of power from hydroelectric sources and thermal sources (coal, gas, and oil) from plants owned and operated under lease arrangement and related ancillary services. With an installed electricity generation capacity of 14,707 MW, out of which 5,847 MW is from Non-Conventional (Green Energy) sources, the rest from thermal.
The thermal power stations of the company are located at Trombay in Mumbai, Mundra in Gujarat, Jojobera and Maithon in Jharkhand, Kalinganagar in Odisha, Haldia in West Bengal, and Bangalore in Karnataka. The hydro stations are located in the Western Ghats of Maharashtra, and the wind farms in Ahmednagar, Supa, Khanke, Brahmanwel, Gadag, Samana, and Visapur.
Tata Power aims to produce electricity completely through renewable sources. As a pioneer of clean energy transition in India, Tata Power has 5,847 MW of clean energy generation, which constitutes 40% of its total capacity. Initially a major coal-powered utility, Tata Power, under CEO Dr. Praveer Sinha, now aims to predominantly utilize renewable energy sources, targeting 70% renewable capacity by 2030. As of December 2024, the company achieved a 43% green energy portfolio, with a total generation capacity exceeding 15.56GW.
The company's planned capital expenditure (capex) for FY25 has increased from ₹12,000 Crore to approximately ₹21,000 Crore in light of new project opportunities in renewables and the transmission and distribution businesses. A total capex of ₹1.46 lakh Crore has been planned between FY25 and FY30, with ₹25,000 Crore earmarked for FY26. The company will spend approximately 60% of this in the renewable energy sector, including in large utility-scale projects and manufacturing operations related to renewables.
On September 17, 2024, CEO Praveer Sinha informed that the company planned to invest up to $9 billion to more than quadruple its renewable energy capacity to more than 20 gigawatts (GW) over the next five to six years.
Tata Power Renewables installs 45,500 rooftop solar systems, 220 MW capacity in Q1 FY26, representing 416% YoY growth. Clean energy portfolio grows to a neat 6,878 MW.
Tata Power recorded a record-high quarterly profit after tax (PAT) of ₹15.33 billion in Q2 FY25. For the first half of FY25, Tata Power reported its highest-ever half-yearly revenue, reaching ₹320.57 billion, up 5% YoY. The company also achieved a record half-yearly profit after tax, up 41% YoY to ₹27.21 billion, while EBITDA rose 17% to a new high of ₹71.58 billion.
Market Cap ₹1,28,133 Crore. In Q1 FY25, Tata Power logged 31% rise in consolidated net profit at ₹1,189 Crore, compared to the year-ago period, on back of operational efficiency. For Q1 FY25, Tata Power's revenue from operations was at ₹17,293.62 Crore, up 14%.
In Q2 FY25, Tata Power clocked its highest ever half-yearly consolidated revenue of ₹32,057 Crore (up 5% year-on-year) and its profit after tax surged to ₹2,721 Crore (up 41% year-on-year).
* Revenue from operations in Q1 FY25: ₹17,293.62 Crore (up 14%)
* Net profit in Q1 FY25: ₹1,189 Crore (up 31%)
* Half-yearly revenue in Q2 FY25: ₹32,057 Crore (up 5% YoY)
* Half-yearly profit after tax in Q2 FY25: ₹2,721 Crore (up 41% YoY)
* Debtor days improved from 40.6 to 31.8 days.
Tata Power has established a 4.3 gigawatt (GW) solar module manufacturing plant near Tuticorin in Tamil Nadu, which is expected to be fully functional by end of October 2024. Tata Power's solar cell manufacturing plant in Tamil Nadu initiated commercial production on a 2 GW solar cell line at its 4.3 GW solar cell and module manufacturing facility, with an additional 2 GW to be operational by November. The module plant reached a peak output of 20,000 modules per day in Q2 FY25.
The company has committed to achieve carbon neutrality before 2045. Tata Power has a transition plan that lays out its ambition to increase the share of green electricity in its portfolio to 70% by 2030 and its intention to phase out coal power before 2045, following the completion of its contractual obligations. Tata Power's transition plan also outlines its aim to reach net zero by 2045.
The company manufactures solar roofs and plans to build 1 lakh EV charging stations by 2025. The company is India's largest vertically-integrated power company.
The equity shares of Tata Power are listed on the Bombay Stock Exchange, where it is a constituent of the BSE SENSEX index, and the National Stock Exchange of India, where it is a constituent of the NIFTY 50. As on December 25, 2023, Tata Group held 32.46% shares in Tata Power. Life Insurance Corporation of India is the largest non-promoter shareholder in the company with 12.90% shareholding.
