Upcoming Dividend • Jun 16
Upcoming dividend of ₹2.50 per share Eligible shareholders must have bought the stock before 23 June 2026. Payment date: 06 August 2026. Payout ratio is a comfortable 21% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.5%). Lower than average of industry peers (2.4%). Reported Earnings • Jun 12
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹11.72 (down from ₹12.42 in FY 2025). Revenue: ₹624.3b (down 4.7% from FY 2025). Net income: ₹37.5b (down 5.6% from FY 2025). Profit margin: 6.0% (down from 6.1% in FY 2025). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • May 14
Dividend increased to ₹2.50 Dividend of ₹2.50 is 11% higher than last year. Ex-date: 23rd June 2026 Payment date: 6th August 2026 Dividend yield will be 0.6%, which is lower than the industry average of 2.7%. Sustainability & Growth Dividend is covered by earnings (21% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 6.8% per year over the past 10 years and has been stable with no material reductions to payments, indicating a long track record of dividend growth and stability. EPS is expected to grow by 60% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Duyuru • May 13
Tata Power Company Limited announces Annual dividend, payable on August 06, 2026 Tata Power Company Limited announced Annual dividend of INR 2.5000 per share payable on August 06, 2026, ex-date on June 23, 2026 and record date on June 23, 2026. Reported Earnings • May 13
Full year 2026 earnings: EPS and revenues miss analyst expectations Full year 2026 results: EPS: ₹11.72 (down from ₹12.42 in FY 2025). Revenue: ₹624.3b (down 4.7% from FY 2025). Net income: ₹37.5b (down 5.6% from FY 2025). Profit margin: 6.0% (down from 6.1% in FY 2025). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 4.4%. Earnings per share (EPS) also missed analyst estimates by 13%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 25% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Apr 22
Tata Power Company Limited to Report Q4, 2026 Results on May 12, 2026 Tata Power Company Limited announced that they will report Q4, 2026 results on May 12, 2026 Reported Earnings • Feb 05
Third quarter 2026 earnings: EPS and revenues miss analyst expectations Third quarter 2026 results: EPS: ₹2.41 (down from ₹3.22 in 3Q 2025). Revenue: ₹142.7b (down 7.3% from 3Q 2025). Net income: ₹7.72b (down 25% from 3Q 2025). Profit margin: 5.4% (down from 6.7% in 3Q 2025). The decrease in margin was driven by lower revenue. Revenue missed analyst estimates by 5.6%. Earnings per share (EPS) also missed analyst estimates by 23%. Revenue is forecast to grow 10% p.a. on average during the next 3 years, compared to a 9.4% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 5% per year but the company’s share price has increased by 21% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jan 15
Tata Power Company Limited to Report Q3, 2026 Results on Feb 04, 2026 Tata Power Company Limited announced that they will report Q3, 2026 results on Feb 04, 2026 New Risk • Nov 12
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.7x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.7x net interest cover). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • Nov 12
Second quarter 2026 earnings: EPS and revenues miss analyst expectations Second quarter 2026 results: EPS: ₹2.88 (down from ₹2.90 in 2Q 2025). Revenue: ₹155.4b (down 1.0% from 2Q 2025). Net income: ₹9.19b (flat on 2Q 2025). Profit margin: 5.9% (in line with 2Q 2025). Revenue missed analyst estimates by 3.3%. Earnings per share (EPS) also missed analyst estimates by 8.1%. Revenue is forecast to grow 9.9% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 7% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Oct 11
Tata Power Company Limited to Report Q2, 2026 Results on Nov 11, 2025 Tata Power Company Limited announced that they will report Q2, 2026 results on Nov 11, 2025 Reported Earnings • Aug 02
First quarter 2026 earnings: Revenues exceed analysts expectations while EPS lags behind First quarter 2026 results: EPS: ₹3.31 (up from ₹3.04 in 1Q 2025). Revenue: ₹180.4b (up 4.3% from 1Q 2025). Net income: ₹10.6b (up 9.2% from 1Q 2025). Profit margin: 5.9% (up from 5.6% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.1%. Earnings per share (EPS) missed analyst estimates by 6.3%. Revenue is forecast to grow 8.7% p.a. on average during the next 3 years, compared to a 8.7% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has increased by 19% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 15
Tata Power Company Limited to Report Q1, 2026 Results on Aug 01, 2025 Tata Power Company Limited announced that they will report Q1, 2026 results on Aug 01, 2025 Duyuru • Jul 03
Tata Reportedly to Be in Talks to Buy Out Investors in Resurgent Tata Group (Tata Sons Private Limited) is in talks to buy out other shareholders in Resurgent Power Ventures Pte. Ltd., according to people familiar with the matter. Tata Power Company Limited (BSE:500400), which owns a 26% stake in Singapore-based power generation and transmission firm Resurgent through a subsidiary, is working with an adviser to help buy the stakes held by ICICI Venture Funds Management Company Limited, Kuwait Investment Authority and Oman Investment Authority, the people said, asking not to be identified because the talks are confidential. Upcoming Dividend • Jun 13
Upcoming dividend of ₹2.25 per share Eligible shareholders must have bought the stock before 20 June 2025. Payment date: 03 August 2025. Payout ratio is a comfortable 18% but the company is not cash flow positive. Trailing yield: 0.6%. Lower than top quartile of Indian dividend payers (1.2%). Lower than average of industry peers (2.3%). New Risk • May 15
New major risk - Financial position The company's interest payments are not well covered by earnings. Net interest cover: 2.1x This is considered a major risk. If the company is unable to fund interest repayments on its debt through profits, it may be forced into reducing its debt burden through selling assets, undertaking a potentially costly capital raising or even into bankruptcy in the worst case scenario. Currently, the following risks have been identified for the company: Major Risk Interest payments are not well covered by earnings (2.1x net interest cover). Minor Risk Paying a dividend despite having no free cash flows. Reported Earnings • May 15
Full year 2025 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2025 results: EPS: ₹12.42 (up from ₹11.56 in FY 2024). Revenue: ₹654.8b (up 6.6% from FY 2024). Net income: ₹39.7b (up 7.4% from FY 2024). Profit margin: 6.1% (up from 6.0% in FY 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.4%. Earnings per share (EPS) missed analyst estimates by 8.7%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has increased by 20% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Apr 21
The Tata Power Company Limited to Report Q4, 2025 Results on May 14, 2025 The Tata Power Company Limited announced that they will report Q4, 2025 results on May 14, 2025 Duyuru • Apr 11
Tata Power, Adani Green Reportedly Among 15 Cos Vying for Statkraft’s India Unit The Tata Power Company Limited (BSE:500400), Adani Green Energy Limited (NSEI:ADANIGREEN), KKR-backed Serentica Renewables India Private Limited and Greenko Energy Holdings are among 15 suitors for Statkraft’s India unit (Statkraft India Private Limited) that has been put on the block by the Norway government-owned renewable power company as it has decided to exit its two decade-old investment here, said people familiar with the matter. The suitors signed non-disclosure agreements (NDA) to participate in a bidding process for the company on April 9, 2025. Statkraft has a diversified renewable energy generation portfolio in India composed of wind, solar, hydro and hybrid power plants. Others in the fray include ReNew Po- wer, Avaada Energy, Waaree Energies Limited (NSEI:WAAREEENER), Edelweiss Alternate Assets, Energielis which is promoted by Statkraft’s former India head Rahul Varshney, Gentari, two public sector undertakings and three investment firms, the sources cited earlier said. Statkraft is seeking between $1.5 billion - $2 billion for the India unit which has a renewable energy generation portfolio of 2 gigawatts comprising operational and under construction projects. Tata Power declined to comment. Serentica Renewables said it regularly evaluates potential business opportunities as part of its business strategy. “Signing a non-disclosure agreement is a routine step in assessing such prospects”, said a spokesperson for Se- rentica Renewables. Adani Green, Greenko, ReNew Power, Avaada Energy, Waaree Energies, Energielis and Gentari did not respond to requests for comment. To provide options to potential suitors, the India unit is being sold in four packages, according to sources. The first package is composed of wind and solar power projects in Rajasthan with capacity of 1.5 gigawatt. The second package is composed of two operational hydro power plants located at Malana and Allain Duhangan in Himachal Pradesh which are 49:51 joint ventures with the local LNJ Bhilwara group. The third and fourth packages are single hydropower assets located at Tidong in Himachal Pradhesh and Kedarnath in Uttarakhand respectively. Duyuru • Feb 08
The Tata Power Company Limited Announces Successfully Restore Unit 5 At Its Trombay Thermal Power Station The Tata Power Company Limited has successfully restored Unit 5 (500 MW) at its Trombay Thermal Power Station in record time ensuring power supply to the grid after a fire in the cable vault on September 23, 2024. The restoration was done within record time of four months from order placement. The fire had temporarily disrupted operations, but Tata Power's Trombay team, in coordination with fire safety authorities, quickly contained the incident, assessed the damage, and executed a rapid restoration plan, ensuring minimal disruption to power supply. Reported Earnings • Feb 05
Third quarter 2025 earnings: EPS and revenues miss analyst expectations Third quarter 2025 results: EPS: ₹3.22 (up from ₹2.98 in 3Q 2024). Revenue: ₹153.9b (up 5.1% from 3Q 2024). Net income: ₹10.3b (up 8.2% from 3Q 2024). Profit margin: 6.7% (up from 6.5% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue missed analyst estimates by 1.8%. Earnings per share (EPS) also missed analyst estimates by 2.4%. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 18% per year whereas the company’s share price has increased by 15% per year. Duyuru • Jan 14
The Tata Power Company Limited to Report Q3, 2025 Results on Feb 04, 2025 The Tata Power Company Limited announced that they will report Q3, 2025 results on Feb 04, 2025 Duyuru • Jan 03
TATA Power Names Sonia Sarin as Head of Brand and Marketing TATA Power names Sonia Sarin as head of brand and marketing. Before this, Sarin served as the head of group corporate communications at Tata Power-DDL. Sarin has over two decades of experience in PR and corporate communications. Throughout her career, she has worked with organizations such as Ketchum Sampark, Madison World, Aim High Consulting, Concept PR, and more. Duyuru • Oct 09
The Tata Power Company Limited to Report Q2, 2025 Results on Oct 30, 2024 The Tata Power Company Limited announced that they will report Q2, 2025 results on Oct 30, 2024 Duyuru • Oct 01
The Tata Power Company Limited Appoints Anjali Pandey as President Generation The Tata Power Company Limited announced that Ms. Anjali Pandey has been appointed as President Generation and categorised as Senior Management Personnel of the Company with effect from October 1, 2024. Prior to joining Tata Power, Ms. Anjali Pandey served as Chief Operating Officer for Cummins Group in India. She has over two decades of extensive experience in strategic management and operational leadership within the manufacturing sector, with a proven track record of driving significant growth and innovation. Her achievements include overseeing substantial revenue growth and driving operational excellence across numerous plants, while championing sustainability initiatives. Ms. Pandey
has held various key leadership positions focused on plant operations, customer relationship management, and business development, honing her expertise in general management,
manufacturing and supply chain management. Ms. Pandey has completed her Bachelor's in Production Engineering from Pune University and an MBA in Finance and Strategy from Kelley School of Business, USA. Duyuru • Sep 25
The Tata Power Company Limited Reports Fire Incident at Trombay Plant's Unit No. 5 and to Restore Normal Operations at the Plant as Soon as Possible The Tata Power Company Limited announced that there was a fire incident in the Control Room of Unit No. 5 (500 MW unit) of Trombay Plant on September 23, 2024. The cause of the fire is currently under investigation, and no injuries or loss of life have been reported. The Company is in the process of assessing the actual damage caused by the fire. The company also confirm that the plant is adequately insured, and the Insurance Company has been duly informed. Efforts are underway to restore normal operations at the plant as soon as possible. Price Target Changed • Aug 28
Price target increased by 7.9% to ₹413 Up from ₹382, the current price target is an average from 22 analysts. New target price is approximately in line with last closing price of ₹428. Stock is up 73% over the past year. The company is forecast to post earnings per share of ₹13.34 for next year compared to ₹11.56 last year. Reported Earnings • Aug 07
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: ₹3.04 (in line with 1Q 2024). Revenue: ₹172.9b (up 14% from 1Q 2024). Net income: ₹9.71b (flat on 1Q 2024). Profit margin: 5.6% (down from 6.4% in 1Q 2024). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 5.7%. Earnings per share (EPS) also surpassed analyst estimates by 7.0%. Revenue is forecast to grow 9.3% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has increased by 49% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jul 22
The Tata Power Company Limited to Report Q1, 2025 Results on Aug 06, 2024 The Tata Power Company Limited announced that they will report Q1, 2025 results on Aug 06, 2024 Duyuru • Jul 17
The Tata Power Company Limited Appoints Tarun Bajaj as A Director and as Independent Director The Tata Power Company Limited announced the appointment Mr. Tarun Bajaj as a Director and as Independent Director. Upcoming Dividend • Jun 27
Upcoming dividend of ₹2.00 per share Eligible shareholders must have bought the stock before 04 July 2024. Payment date: 15 August 2024. Payout ratio is a comfortable 17% but the company is not cash flow positive. Trailing yield: 0.5%. Lower than top quartile of Indian dividend payers (1.1%). Lower than average of industry peers (2.4%). Reported Earnings • Jun 24
Full year 2024 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2024 results: EPS: ₹11.56 (up from ₹10.43 in FY 2023). Revenue: ₹614.5b (up 12% from FY 2023). Net income: ₹37.0b (up 11% from FY 2023). Profit margin: 6.0% (down from 6.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue exceeded analyst estimates by 3.3%. Earnings per share (EPS) missed analyst estimates by 2.2%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 10% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 37% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth. Price Target Changed • May 15
Price target increased by 7.4% to ₹367 Up from ₹341, the current price target is an average from 20 analysts. New target price is 15% below last closing price of ₹430. Stock is up 104% over the past year. The company is forecast to post earnings per share of ₹13.60 for next year compared to ₹11.08 last year. Duyuru • May 10
The Tata Power Company Limited, Annual General Meeting, Jul 16, 2024 The Tata Power Company Limited, Annual General Meeting, Jul 16, 2024. Agenda: To approve final dividend for the financial year ended March 31, 2024. Reported Earnings • May 09
Full year 2024 earnings released: EPS: ₹11.08 (vs ₹10.43 in FY 2023) Full year 2024 results: EPS: ₹11.08 (up from ₹10.43 in FY 2023). Revenue: ₹632.7b (up 15% from FY 2023). Net income: ₹37.0b (up 11% from FY 2023). Profit margin: 5.8% (down from 6.1% in FY 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 9.1% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 57% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • May 09
The Tata Power Company Limited Recommends Dividend for the Financial Year Ended March 31, 2024, Payable on and from July 18, 2024 The Board of The Tata Power Company Limited has recommended a final dividend of INR 2.00 per Equity Share of 1 each (@ 200%) to the Members for the financial year ended March 31, 2024. The dividend recommended by the Board is subject to the approval of the Members at the forthcoming 105th Annual General Meeting ('AGM') of the Company scheduled to be held on July 16, 2024. Pursuant to Regulation 42 of the Listing Regulations, the Company has fixed the Record Date as July 4, 2024 for taking record of the Members of the Company for the purpose of payment of dividend. The dividend, if approved by the Members at the AGM, will be paid, subject to deduction of tax at source, on and from July 18, 2024 as under: To all Beneficial Owners in respect of shares held in electronic form as per the data as may be made available by depositories at the close of business hours on July 4, 2024; and To all those Members holding shares in physical form, whose names stand registered in the Company's Register of Members as Members on the close of the business hours on July 4, 2024. Duyuru • Apr 16
The Tata Power Company Limited to Report Q4, 2024 Results on May 08, 2024 The Tata Power Company Limited announced that they will report Q4, 2024 results on May 08, 2024 Price Target Changed • Feb 12
Price target increased by 10% to ₹319 Up from ₹290, the current price target is an average from 19 analysts. New target price is 12% below last closing price of ₹362. Stock is up 78% over the past year. The company is forecast to post earnings per share of ₹11.67 for next year compared to ₹10.43 last year. Reported Earnings • Feb 10
Third quarter 2024 earnings: EPS and revenues miss analyst expectations Third quarter 2024 results: EPS: ₹2.98 (up from ₹2.95 in 3Q 2023). Revenue: ₹152.9b (up 8.2% from 3Q 2023). Net income: ₹9.53b (flat on 3Q 2023). Profit margin: 6.2% (down from 6.7% in 3Q 2023). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.1%. Earnings per share (EPS) also missed analyst estimates by 4.9%. Revenue is forecast to grow 9.2% p.a. on average during the next 3 years, compared to a 8.6% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jan 16
The Tata Power Company Limited to Report Q3, 2024 Results on Feb 09, 2024 The Tata Power Company Limited announced that they will report Q3, 2024 results on Feb 09, 2024 Price Target Changed • Dec 18
Price target increased by 8.0% to ₹268 Up from ₹248, the current price target is an average from 19 analysts. New target price is 20% below last closing price of ₹337. Stock is up 55% over the past year. The company is forecast to post earnings per share of ₹10.72 for next year compared to ₹10.43 last year. Valuation Update With 7 Day Price Move • Dec 07
Investor sentiment improves as stock rises 22% After last week's 22% share price gain to ₹326, the stock trades at a forward P/E ratio of 30x. Average forward P/E is 19x in the Electric Utilities industry in India. Total returns to shareholders of 362% over the past three years. Reported Earnings • Nov 09
Second quarter 2024 earnings released: EPS: ₹2.93 (vs ₹2.57 in 2Q 2023) Second quarter 2024 results: EPS: ₹2.93 (up from ₹2.57 in 2Q 2023). Revenue: ₹160.3b (up 14% from 2Q 2023). Net income: ₹8.76b (up 6.9% from 2Q 2023). Profit margin: 5.5% (down from 5.8% in 2Q 2023). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 8.2% p.a. on average during the next 3 years, compared to a 5.9% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has increased by 65% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Nov 09
the Tata Power Company Limited Announces Executive Changes, Effective February 1, 2024 the Tata Power Company Limited approved the appointment of Mr. Vispi S. Patel (FCS 7021) as the Company Secretary and Compliance Officer (Key Managerial Personnel) of the Company consequent upon the superannuation of Mr. Hanoz M. Mistry. Effective February 1, 2024 Mr. Vispi S. Patel is a seasoned professional with a 27-year career in company secretary functions. He is a Fellow Member of the Institute of Company Secretaries of India (ICSI) with a Bachelor ofCommerce and Bachelor of General Law degree from the University of Mumbai. His expertise lies in corporate law and governance, accompanied by exceptional leadership capabilities. Vispi embarked on his professional journey as a CS Management Trainee with Tata Motors Limited in 1996 and over the years, climbed the ranks to become General Manager and Deputy Company Secretary. Prior to joining The Tata Power Company Limited, Vispi served as the Company Secretary of Tata Passenger Electric Mobility Limited (TPEM), a wholly owned subsidiary of Tata Motors Limited. Throughout his tenure at Tata Motors Limited, Vispi played a pivotal role in Mergers & Acquisitions, Corporate Restructuring, Corporate Governance and Compliance. His contributions were instrumental in the Company receiving numerous awards for its exemplary governance practices. Duyuru • Oct 18
The Tata Power Company Limited to Report Q2, 2024 Results on Nov 08, 2023 The Tata Power Company Limited announced that they will report Q2, 2024 results on Nov 08, 2023 New Risk • Oct 05
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Earnings are forecast to decline by an average of 0.3% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. New Risk • Sep 04
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (1.8x net interest cover). Earnings are forecast to decline by an average of 0.7% per year for the foreseeable future. Minor Risk Paying a dividend despite having no free cash flows. Duyuru • Aug 25
the Tata Power Company Limited Announces Cessation of Hemant Bhargava, Non-Executive, Non-Independent Director The Tata Power Company Limited announced that Mr. Hemant Bhargava, Non-Executive, Non-Independent Director, has stepped down from the Board of Directors of the Company with effect from close of business hours on August 23, 2023. Reported Earnings • Aug 11
First quarter 2024 earnings: EPS and revenues exceed analyst expectations First quarter 2024 results: EPS: ₹3.04 (up from ₹2.48 in 1Q 2023). Revenue: ₹154.8b (up 6.8% from 1Q 2023). Net income: ₹9.72b (up 22% from 1Q 2023). Profit margin: 6.3% (up from 5.5% in 1Q 2023). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 3.0%. Earnings per share (EPS) also surpassed analyst estimates by 50%. Revenue is forecast to grow 7.6% p.a. on average during the next 3 years, compared to a 4.2% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 39% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Aug 01
The Tata Power Company Limited Announces Resignation of Hasit Kaji as Chief Digital and Information Officer The Tata Power Company Limited inform that Mr. Hasit Kaji, Chief Digital and Information Officer of the Company shall cease to be part of the Senior Management on account of his superannuation w.e.f. close of business hours on July 31, 2023. Duyuru • Jul 14
The Tata Power Company Limited to Report Q1, 2024 Results on Aug 09, 2023 The Tata Power Company Limited announced that they will report Q1, 2024 results on Aug 09, 2023 Upcoming Dividend • May 31
Upcoming dividend of ₹2.00 per share at 0.9% yield Eligible shareholders must have bought the stock before 07 June 2023. Payment date: 19 July 2023. Payout ratio is a comfortable 19% but the company is not cash flow positive. Trailing yield: 0.9%. Lower than top quartile of Indian dividend payers (1.6%). Lower than average of industry peers (4.6%). Reported Earnings • May 05
Full year 2023 earnings: Revenues exceed analysts expectations while EPS lags behind Full year 2023 results: EPS: ₹10.43 (up from ₹6.82 in FY 2022). Revenue: ₹565.5b (up 32% from FY 2022). Net income: ₹33.4b (up 53% from FY 2022). Profit margin: 5.9% (up from 5.1% in FY 2022). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 5.5%. Earnings per share (EPS) missed analyst estimates by 10%. Revenue is forecast to grow 4.9% p.a. on average during the next 2 years, compared to a 4.8% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has increased by 93% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Feb 05
Third quarter 2023 earnings released: EPS: ₹2.95 (vs ₹1.33 in 3Q 2022) Third quarter 2023 results: EPS: ₹2.95 (up from ₹1.33 in 3Q 2022). Revenue: ₹141.3b (up 30% from 3Q 2022). Net income: ₹9.45b (up 122% from 3Q 2022). Profit margin: 6.7% (up from 3.9% in 3Q 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.5% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has increased by 52% per year, which means it is tracking significantly ahead of earnings growth. Duyuru • Jan 18
JSW, Greenko, Adani, Tata Reportedly Tapped for PTC India Stake Greenko Group PLC, The Tata Power Company Limited (BSE:500400), JSW Energy Limited (BSE:533148) and Adani Enterprises Limited (BSE:512599) have been approached to assess their interest in acquiring a strategic stake in PTC India Limited (NSEI:PTC), people in the know said. Five public sector undertakings, including four promoter firms of PTC India, are planning to sell their stake in the power trading company that is hit by a controversy over governance issues at its financial services subsidiary. The promoters — NTPC Limited (NSEI:NTPC), NHPC Limited (NSEI:NHPC), Power Finance Corporation Limited and Power Grid Corporation of India Limited (NSEI:POWERGRID) hold a combined stake of around 16% in PTC India. Damodar Valley Corporation, which owns a 3.3% ownership, has also decided to divest its shareholding, taking the total stake on offer to a potential strategic investor at nearly 20%, these people said. Duyuru • Jan 10
The Tata Power Company Limited to Report Nine Months, 2023 Results on Feb 03, 2023 The Tata Power Company Limited announced that they will report nine months, 2023 results on Feb 03, 2023 Board Change • Nov 16
Insufficient new directors There is 1 new director who has joined the board in the last 3 years. The company's board is composed of: 1 new director. 10 experienced directors. No highly experienced directors. Independent Non-Executive Director Rajiv Mehrishi was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 29
Second quarter 2023 earnings: EPS misses analyst expectations Second quarter 2023 results: EPS: ₹2.57 (up from ₹1.32 in 2Q 2022). Revenue: ₹141.8b (up 42% from 2Q 2022). Net income: ₹8.19b (up 94% from 2Q 2022). Profit margin: 5.8% (up from 4.2% in 2Q 2022). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 8.2%. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 6.9% growth forecast for the Electric Utilities industry in India. Over the last 3 years on average, earnings per share has increased by 38% per year but the company’s share price has increased by 56% per year, which means it is tracking significantly ahead of earnings growth. Reported Earnings • Jul 27
First quarter 2023 earnings released: EPS: ₹2.48 (vs ₹1.13 in 1Q 2022) First quarter 2023 results: EPS: ₹2.48 (up from ₹1.13 in 1Q 2022). Revenue: ₹145.0b (up 45% from 1Q 2022). Net income: ₹7.95b (up 103% from 1Q 2022). Profit margin: 5.5% (up from 3.9% in 1Q 2022). The increase in margin was driven by higher revenue. Over the next year, revenue is forecast to grow 7.6%, compared to a 8.2% growth forecast for the industry in India. Over the last 3 years on average, earnings per share has increased by 35% per year but the company’s share price has increased by 53% per year, which means it is tracking significantly ahead of earnings growth.