AnnouncementSep 2026
Sep 2026 · Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 14 Sep - Torrent Power will participate in J.P. Morgan India Conference 2026 on September 22, 2026 in Mumbai.
Source: Bse
Torrent Power Limited (TORNTPOWER)
Large CapPower stocks · Large cap · NSE
Torrent Power is an integrated private sector utility in India with presence across generation (gas, coal, renewables), transmission, and distribution. It operates licensed and franchised distribution areas, focusing on reducing T&D losses and expanding its renewable portfolio.
Data qualityFresh enough for analysisQuote updated 21 Oct, 04:45 am ISTDetails
Quote21 Oct, 04:45 am IST
Base fundamentals20 Oct 2026 · screener
Latest result03 Aug, 10:45 pm IST
Score21 Oct, 04:30 am IST · v4.3-runtime-valuation
Tags02 May 2026
Coverage13/14 · 93%
Valuation2026-07-20 · Rf 6.8% · Power P/E 16.8 (n=92)
Technical timing lens
Trend score and candlestick chart
26Bearishfull bear SMA stack · SMA20 -2.7% / mo · MACD + · near 52W low
Stock trend: 26
Sector RS: —
Power FPI tailwindNot confirmed
Latest mapped FPI equity flow was not positive. View sector evidence
Technical chart
TORNTPOWERD candles · FIT view-28.8%Latest close ₹1210.00 on 2026-10-19
Bar
-1.2%
RSI
43
MACD hist
1.77
52W pos
7%
2026-10-19O ₹1225.00H ₹1227.00L ₹1202.00C ₹1210.00Vol 1.2L sh
Up bar
Down bar
EMA 20
EMA 50
Volume + 20D avg
Result date
RSI(14)
MACD / signal
Market context
Relative performance and chart statistics
Adjusted completed-session prices, rebased to 100
TORNTPOWERNifty PowerNifty 500
- TORNTPOWER
- -15.6%
- Nifty 500
- -5.6%
- Nifty Power
- -13.0%
- Vs Nifty 500
- -10.0 pp
Chart stats
19 Oct 2026- From 52W high
- -33.7%
- 52W range position
- 7%
- ATR (14)
- 2.7%
- Volume vs 20D
- 0.49x
- Avg traded value
- ₹27.7 Cr
- 20D price channel
- ₹1,165 - ₹1,269.8
₹1,824.1
₹1,165 - ₹1,824.1
₹32.5
Latest completed session
20-session average
24.2% annualized volatility
Research snapshot
What the evidence says now
Weak fundamentals, management evidence is still limited to a financial-only Trust Lite signal, price trend argues for patience, and recent execution is mixed.
Suggested next step
Research, do not rush
The evidence is not strongly aligned. Compare peers and wait for a cleaner setup.
U-Score
Legacy · WATCHLIST36
Fundamental lens: valuation, quality, growth, balance sheet, and cash flow.
Latest result
Bad0
Revenue +2.8% · PAT -10.8% YoY
Technical
Bearish26
Price trend and sector-relative-strength timing.
Valuation
Legacy model+13.0%
Legacy margin-of-safety estimate; the revised evidence label remains in shadow validation.
Trust
Limited evidence71
Financial-only signal; management claim evidence is not sufficient yet.
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Financials
Fundamentals, quarterly history, margins, returns and balance-sheet evidence
Latest result
Quarter ended 30 Jun 2026
Bad · 0/100PAT -11% YoY · margin compression · Rev +3% YoY · +27% QoQ
Filed 03 Aug 2026
Open results browser →| Metric | This quarter | YoY | QoQ |
|---|---|---|---|
| Revenue | ₹8,124 Cr | +2.8% | +26.8% |
| EBITDA | ₹1,538 Cr | +3.7% | +33.9% |
| Operating margin | 19.0% | +0 bps | +100 bps |
| PAT | ₹662 Cr | -10.8% | +100.0% |
| PAT margin | 8.2% | -124 bps | +298 bps |
NDF means not disclosed in the current structured filing feed. It is intentionally not treated as zero.
Fundamentals
Valuation
- P/E
- 26.20
- P/B
- 3.19
- EV/EBITDA
- 10.38
- Market Cap
- 60972.00Cr
Profitability
- ROE
- 12.50%
- ROCE
- 13.70%
- ROA
- 5.31%
- Dividend Y
- 1.70%
Growth (CAGR)
- Revenue 5Y
- 19.00%
- EPS 5Y
- 12.00%
- Revenue 3Y
- 4.00%
- EPS 3Y
- 4.00%
Balance Sheet
- Debt/Equity
- 0.73
- Interest Coverage
- 5.51×
- Altman Z
- 3.20
- Book Value
- 379.00
Cash Flow
- FCF Yield
- —
- FCF Positive Y
- 11/5
- OCF
- 5464.00 Cr
- EPS TTM
- 46.11
Shareholding
- Promoter Hold
- 51.09%
- Promoter Pledge
- 0.00%
- Momentum 52W
- 7%
Financial History
Updated 19/10/2026
Revenue
₹ CrLatest: 8,124+26.8% vs prev
Net Profit
₹ CrLatest: 662+100.0% vs prev
ROE is shown only in the Annual view — quarterly equity data isn't published.
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Technicals
Trend interpretation, Stage 2, relative strength, volume and indicator evidence
Daily technical trend read
Mixed signalsSignals are conflicting — long-term trend down. RSI 43. Wait for confirmation.
- Price < SMA20 < SMA50 < SMA200 — full bearish stack.
- SMA20 falling (~2.8% over last month) — short-term momentum negative.
- RSI(14) at 43 — rising, no extreme reading.
- MACD above signal, histogram expanding — bullish momentum building.
- Within 5% of 52-week low — testing support.
Mechanical read from the price + indicator series above. Not a recommendation — technical setups can reverse without warning, especially around earnings and macro events.
Nifty 500 leadership
Relative Strength & Trend Stage
34
RS percentile
Stage 4 Downtrend
1M return
-3.9%
3M return
-15.6%
6M return
-27.0%
1Y return
-5.3%
RS 1D
0
RS 20D
-3
Sector rank
#17
Industry rank
#25
Stage evidence
- Price is 13.6% below the 30-week proxy.
- The 50-DMA is below the 30-week proxy and its slope is falling -2.5%.
- Both 3-month and 6-month returns are negative.
50-DMA
price below
200-DMA
price below
Sector
lagging
Industry
lagging
Relative-strength line vs Nifty 500 (base 100)
261 observations
19 Oct 2026Value 101.97-0.30%
RS vs Nifty 500102
Valuation & peers
U-Score 36 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
Valuation & peers
U-Score 36 · legacy U-Score band WATCHLIST · valuation evidence and comparable companies
WATCHLIST
Fundamental score breakdown
U band · WATCHLISTValuation4/30
Growth11/25
Quality3/20
Balance Sheet8/15
Cash Flow4/10
Piotroski
8/9 (+5)
Penalties
1
Raw sum
36
Why this score?
Top U-Score contributors and drags from the latest stored fundamentals.
36/100 · legacy band WATCHLIST
Positive drivers
- Piotroski is strong at 8/9.
- Fair-value margin of safety is positive at 13.0%.
- Balance sheet contributes 8/15 to the score.
Main drags
- Valuation is weaker at 4/30; verify the latest quarterly trend.
- Quality is weaker at 3/20; verify the latest quarterly trend.
- Cash flow is weaker at 4/10; verify the latest quarterly trend.
Sector valuation model
Execution business valuation: EV/EBITDA plus order and working-capital risk
Capital-intensive execution stories need cash-flow and balance-sheet checks alongside valuation.
Primary lens
EV/EBITDA and PE against execution quality and margin stability.
Secondary checks
Order book, receivables, working capital, debt, operating cash flow.
Main risk check
Order wins matter only if they convert into cash and margins.
PE
26.2
PB
3.2
EV/EBITDA
10.4
ROE
12.5%
ROCE
13.7%
FCF Yield
—
Debt/Equity
0.7
MoS
+13.0%
Score movement
Stored run vs live recompute
This shows the stored score trend when snapshots exist, and also compares the latest stored nightly score with a live recompute from current fundamentals and price.
Stored run: 21 Oct 2026
v4.3-runtime-valuation
Final score
36
Previous: 36
Legacy U-Score band
WATCHLIST
Previous: WATCHLIST
Margin of safety
+13.0%
Previous: +13.0%
Score history
12 stored score snapshots. Latest stored move: +1 points.
21 Oct 2026
v4.3-runtime-valuation
35
35
35
35
35
35
35
35
35
35
35
36
Factor attribution
No pillar movement versus the latest stored run. Historical score trend will appear after snapshot storage is enabled.
Modelled fair value
Graham Number
₹627.06
-93.0% MoS
Growth-justified P/E
30.1
Growth-justified Value
₹1,390.22
+13.0% MoS
PEG
2.98
Comparable companies
Peers
Business-comparable peers in Power — ranked by industry, sub-sector, theme-tag overlap, market cap, and U-Score similarity. Green cells mark the best available peer metric in this table.
Ticker
Name
Why peer
Score
PE
ROE
MoS
Verdict
NLCINDIA
Large
NLC India Limited
Power Generation
match 163
52
11.1
11.9%
+58%
FAIR VALUE
JPPOWER
Large
Jaiprakash Power Ventures Limited
Power Generation
match 160
42
32.3
3.6%
-29%
WATCHLIST
SJVN
Large
SJVN Limited
Power Generation
match 160
17
31.4
4.6%
-1167%
OVERVALUED
TATAPOWER
Large
Tata Power Company Limited
Power Generation
match 159
26
28.6
10.2%
-16%
OVERVALUED
NHPC
Mid
NHPC Limited
Power Generation
match 158
17
19.2
9.3%
-111%
OVERVALUED
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business, management & trust
Growth engines, risks, management commitments and evidence-backed delivery
Business and thesis
Where growth can come from, and what can break the case
Thesis under stressReviewed 2026-10-13T08:46:42.106Z
Management commentary snapshot
Q1 FY27 consolidated revenue grew 3% YoY to INR 8,124 Cr, but PBDIT saw a modest 2% YoY increase to INR 1,618 Cr. PAT declined 11% YoY to INR 662 Cr, indicating margin pressure despite revenue growth.
PAT decline in Q1 FY27 raises concerns on profitability despite revenue growth. However, strategic renewable capacity expansion and continued operational efficiency in distribution, including loss reduction, support the long-term thesis. Nabha Power acquisition adds significant coal capacity.
Current business mix
Segmental Revenue in FY26
Latest issuer-disclosed distribution across 3 reported categories.
Generation22.0%
Transmission & Distribution74.0%
Renewables4.0%
Growth engines
Renewable Capacity Expansion
INTACTTarget to increase installed RE capacity to ~6.25 GWp, with ~4.6 GW under installation.
Pumped Storage Hydro Projects
INTACT3 GW under development in Maharashtra, with 2 GW tied up with MSEDCL, and 8.4 GW total planned capacity.
Distribution Loss Reduction
INTACTContinued reduction in AT&C losses in franchised areas (e.g., Bhiwandi from 58% to ~9.1% in FY26).
Nabha Power Acquisition
INTACTAcquired 1,400 MW coal-based capacity (Nabha Power) effective June 25, 2026.
Capacity and execution
Renewable Energy Projects
INTACT~4.6 GW capacity under installation, with progressive commissioning from FY27 to FY29.
Anuppur Ultra-Supercritical Coal Project
INTACT1,600 MW (2x800 MW) under development, SCOD Unit 1: 66 months & Unit 2: 72 months from PPA execution.
Pumped Storage Hydro Project
INTACT3,000 MW project in Raigad, Maharashtra, with SCOD of Oct'28 for 2,000 MW tied with MSEDCL.
Tailwinds
Integrated Business Model
INTACTMore than c.70% of EBITDA comes from integrated generation and distribution business segment in FY26.
Flexible Generation Capacity
INTACT~1.5 GW (c.50%) of gas-based capacity available to capitalise on short-term and merchant market opportunities.
Focus on Green Molecule Technologies
INTACTFocus on Green Hydrogen and Pumped Storage Power (PSP) with an eventual target of establishing c. ~8.4 GW of capacity.
Headwinds
Profitability Decline
UNDER_STRESSProfit After Tax (PAT) declined 11% YoY in Q1 FY27 despite revenue growth.
Thermal PLF Reduction
UNDER_STRESSSignificant year-over-year decline in PLF for SUGEN, UNOSUGEN, DGEN, and overall thermal assets in Q1 FY27.
Risk radar
Operational Efficiency of Thermal Assets
UNDER_STRESSDecline in PLF for several gas-based plants in Q1 FY27 suggests potential operational or market challenges affecting utilization.
Project Execution and Commissioning
INTACTLarge pipeline of renewable, coal, and PSP projects carries inherent execution, cost, and commissioning timeline risks.
Management accountability
What management said, and what results must prove
Issuer guidance and extracted claims are tracked against later reported outcomes. Treat these as management statements, not IndiaPulse forecasts.
Analyst reading lens
Compare YOY
Power sector performance, especially generation and distribution, often exhibits seasonality, making year-over-year comparisons more relevant for assessing underlying business trends and operational efficiency.
Sector KPIs management disclosed
Thermal Power PLF (Q1 FY27)
UNDER_STRESSAMGEN: 91.1%, SUGEN: 31.9%, UNOSUGEN: 20.6%, DGEN: 31.7%. Overall Thermal PLF: 38.7%.
Renewable Power PLF (Q1 FY27)
INTACTWind: 33.3%, Solar: 25.9%.
T&D Loss - Licensed Distribution (Q1 FY27)
INTACTAhmedabad: 7.9%, Surat: 3.1%, DDDNH: 1.7%, Dahej: 0.4%.
T&D Loss - Franchised Distribution (Q1 FY27)
INTACTBhiwandi: 10.1%, Agra: 14.4%, SMK: 25.9%.
Management forward view
Scaling RE Capacity
INTACTManagement targets scaling up installed Renewable Energy capacity.
Focus on Complex/Hybrid Solutions
INTACTFocus on other green molecule technologies i.e. Green Hydrogen and Pumped Storage Power (PSP).
Capitalizing on Emerging Opportunities
INTACTComfortable leverage provides headroom to capitalise on emerging opportunities.
Thesis monitor
Numbers and claims to verify in the next filings
| Checkpoint | Current evidence | What to verify next |
|---|---|---|
| PAT Growth | -11% YoY in Q1 FY27 | Reversal of PAT decline and sustained growth in subsequent quarters. |
| Renewable Project Commissioning | ~4.6 GW under installation, progressive commissioning from FY27-FY29 | Timely commissioning and ramp-up of pipeline RE projects as per schedule. |
| Thermal PLF | Mixed, some gas plants significantly down YoY in Q1 FY27 | Improvement in PLF for gas-based and overall thermal assets to support profitability. |
| Net Debt/EBITDA | 2.06x (FY26) | Maintenance of comfortable leverage ratios despite significant capex for new projects. |
Verification checkpoints are IndiaPulse research interpretation, not investment advice.
Trust Score
71Limited evidence · low confidenceTrust Lite
Trust asks: does management behaviour match later outcomes? Higher is better, but confidence and evidence depth matter as much as the number.
Limited evidence: Claim history is still being built. It ranks around the 66th percentile of the scored universe and 78th percentile within Power. No major sub-score weakness stands out.
This is a financial-behaviour screen, not a claim-tested management reliability verdict.
Computed 21 Oct 2026
management-trust-v1
91 docs text-extracted · 11 concalls text-extracted
Score band
Limited evidence
Financial behaviour is scored, but management claims do not yet have enough outcome checks.
Relative rank
66th percentile
overall median 67 · Power: 78th pctile, median 65 · Large: 42nd pctile, median 73
Evidence depth
Financial-only
91 documents have extracted text, but claim history is not strong enough yet.
Claim delivery
Outcome history still building
0 claims extracted · No contradicted claim yet
How to read this Trust Score
Limited evidence · low confidenceWhat it measures
Reliability of management and financial delivery, using financial behaviour only.
Confidence
Treat this as an early read until more concalls and outcomes are matched.
Investor use
Acceptable, but check the weakest sub-score before increasing exposure.
Read Trust alongside U-Score, result consistency, and technical trend. A cheap stock with weak Trust needs a larger margin of safety; a high Trust score does not make an expensive stock attractive by itself.
Forensic breakdown
Read low sub-scores as due-diligence warnings, not automatic sell signals.
Promoter
78
strong · holding, pledge, alignment
Cash flow
67
acceptable · profit to cash conversion
Balance sheet
81
strong · leverage and solvency
Discipline
60
acceptable · capital discipline
Results
68
acceptable · quarterly consistency
Trust positives
- ▸Promoter pledge is zero.
- ▸11 years of positive FCF.
- ▸3/4 latest quarters had positive YoY revenue growth.
- ▸OPM spread across recent quarters is 4%.
Trust risks
- ▸1 of the latest 4 quarters had PAT decline worse than 25% YoY.
Trust Lite uses financial behaviour only. Prefer claim-tested Trust when enough concall claims have later outcomes.
Continue researching Torrent Power Limited
Important announcements & filings
Latest exchange and company disclosures found within the past two years.
Open source ↗
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 16 Sep
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Press Release / Media Release 8 Sep - Torrent Green Energy commissioned 322 MWp solar projects in Nashik, Maharashtra under MSKVY 2.0.
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 7 Sep - Torrent Power to attend investor conferences on Sept 15, 16 and 22, 2026.
Source: Bse
Investor presentationAug 2026
Aug 2026 · PPT
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 19 Aug - Update on Schedule of Analyst / Investor Meeting
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 11 Aug - Intimation of Schedule of Investor Conference and Analyst / Investor Meeting under Regulation 30 of SEBI LODR
Source: Bse
Concall transcript
Announcement under Regulation 30 (LODR)-Earnings Call Transcript 6 Aug
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 11 Jul
Source: Bse
Annual report
Reg. 34 (1) Annual Report. 10 Jul
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Newspaper Publication 9 Jul - 22Nd AGM of the Company through VC / OAVM facility
Source: Bse
Announcement
Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation 19 Jun - Intimation of Schedule of Analyst / Investor Meeting under Regulation 30 of SEBI LODR
Source: Bse
All information is for study purposes only. For investment decisions, consult your financial advisor. See Playbook for methodology.