MarketFriction

Torrent Power Ltd

NSE TORNTPOWER · BSE 532779 · Integrated Power Utilities
₹1,242.90 -0.24%
NSE close2026-10-01
52 week range1,188.00 - 1,824.10
Market cap₹61,486 Cr.
P/E26.5
Nifty 500Midcap 150Nifty EnergyNifty Commodities Price band 20% Delivery 44.4%

Price

Drag to pan, scroll or pinch to zoom. Ruler (or Shift + drag) measures a move.Dashed lines: 52 week high and low. Prices adjusted for splits and bonuses.

Financials

Consolidated, Rs crore
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales6,9616,3666,5299,0347,1766,4996,4567,9067,8766,7786,4068,124
Expenses5,7405,3225,4207,1765,9685,3885,3266,4236,3705,3755,2576,586
Operating Profit1,2211,0441,1091,8581,2071,1121,1301,4831,5061,4031,1491,538
OPM %18%16%17%21%17%17%18%19%19%21%18%19%
Other Income10854977612517211410578697181
Interest247235233260272276236212216255252293
Depreciation342349355359371378389390389413421400
Profit before tax7415136171,315689630619985979805547925
Tax %27%27%28%24%28%22%-74%25%24%19%39%28%
Net Profit5433744479964964891,077742742655331662
EPS in Rs10.947.498.9520.2310.019.4421.0314.5214.3612.766.3112.68
Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales11,6809,96011,51213,15113,64112,17314,25825,69427,18329,16528,96629,184
Expenses8,6817,4878,3649,93410,0458,69510,64320,90622,58723,84423,38923,588
Operating Profit2,9992,4723,1483,2173,5963,4773,6154,7894,5965,3225,5775,596
OPM %26%25%27%24%26%29%25%19%17%18%19%19%
Other Income337179232172-862130-1,089352307473287299
Interest1,1311,0588488999557766288189431,0459341,015
Depreciation9161,0061,1321,2271,3041,2801,3341,2811,3781,4971,6131,623
Profit before tax1,2905871,4011,2644751,5525643,0412,5833,2533,3173,257
Tax %30%27%32%28%-148%16%19%29%27%6%26%
Net Profit9024309529041,1791,2964592,1651,8963,0592,4692,390
EPS in Rs18.738.9219.6118.7024.4326.869.4544.0638.1459.3147.9546.11
Dividend Payout %24%25%26%27%47%41%95%59%42%32%42%
10 Years5 Years3 YearsTTM1 YearLast Year
Compounded Sales Growth10%19%4%4%
Compounded Profit Growth10%12%4%-15%
Stock Price CAGR21%19%18%0%
Return on Equity14%15%15%12%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital472481481481481481481481481481504504
Reserves6,0835,9906,4117,2398,4908,6739,7049,46310,52911,58117,11118,571
Borrowings9,3558,5158,7689,2989,7158,9087,8179,14310,54111,6328,84013,971
Other Liabilities3,7224,6265,1325,5715,8655,5415,5135,9028,3209,63310,00411,999
Total Liabilities19,63219,61220,79322,58924,55023,60323,51424,98829,87233,32636,45945,045
Fixed Assets15,08815,13916,80417,87118,01417,56917,32617,09719,26921,80224,28625,611
CWIP2332133323933595688381,2972,6252,4722,2506,965
Investments6075116718739147244664078049548951,531
Other Assets3,7053,7482,9863,4535,2634,7434,8856,1877,1748,0979,02810,938
Total Assets19,63219,61220,79322,58924,55023,60323,51424,98829,87233,32636,45945,045
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity2,2512,5502,3562,7642,4253,6102,9883,1673,4564,2584,8055,464
Cash from Investing Activity-1,158-911-2,122-2,418-1,828-1,129-910-2,483-3,216-3,544-3,650-8,088
Cash from Financing Activity-1,206-2,163-674-311-617-2,506-2,061-502-341-551-1,2163,101
Net Cash Flow-112-523-44034-20-2516182-101163-62478
Free Cash Flow889926-854295372,2631,6991,407432659608-2,156
CFO/OP113%96%100%98%84%109%93%94%82%103%94%109%
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days313336363434434132293029
Inventory Days
Days Payable
Cash Conversion Cycle313336363434434132293029
Working Capital Days-359-15-11-15-23-21-40-9-9-3-35
ROCE %11%15%10%13%12%13%13%13%18%15%16%14%
Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters53.56%53.56%53.56%53.56%53.56%51.09%51.09%51.09%51.09%51.09%51.09%51.09%
FIIs6.17%6.13%6.40%8.43%8.88%9.93%9.43%9.79%8.82%8.32%8.40%8.53%
DIIs21.63%21.62%21.47%19.53%19.03%21.21%21.90%21.41%22.16%22.74%22.82%22.69%
Government1.47%1.47%1.47%1.47%8.75%8.35%8.35%8.35%8.35%8.35%8.35%8.35%
Public17.19%17.23%17.10%17.02%9.77%9.42%9.25%9.35%9.60%9.51%9.33%9.37%
No. of Shareholders1,19,9931,31,3931,40,1531,41,4791,53,4431,66,3871,65,1891,65,7381,75,0731,68,4421,60,5661,55,488

Fundamentals

Market Cap₹ 61,486 Cr.
Current Price₹ 1,220
Stock P/E26.5
Book Value₹ 379
ROCE13.7 %
ROE12.5 %
Dividend Yield1.64 %
Face Value₹ 10.0
Compounded Sales Growth (TTM)4%
Compounded Profit Growth (TTM)-15%
Consolidated figures.
Valuation
Market capRs 62,630 Cr
Enterprise valueRs 75,769 Cr
P/E (TTM)26.95x
Price to book3.28x
Price to sales2.15x
EV / EBITDA12.85x
EV / EBIT17.74x
EV / sales2.60x
Price to cash flow11.46x
Earnings yield3.71%
Dividend yield1.61%
P/E, 3-year average29.30x
P/B, 3-year average4.37x
P/E, 5-year average30.31x
P/B, 5-year average3.54x
Profitability
Operating margin (excl. other income)19.25%
Operating margin (incl. other income)20.24%
EBITDA margin20.20%
Pre-tax margin11.16%
Net profit margin7.96%
Net margin, latest quarter7.86%
ROE13.17%
ROCE14.29%
ROA5.93%
ROE, 3-year average16.40%
ROCE, 3-year average15.67%
ROA, 3-year average6.77%
ROE, 5-year average14.79%
ROCE, 5-year average14.49%
ROA, 5-year average5.98%
ROIC (approx.)9.87%
Tax rate25.55%
Other income / net worth1.50%
Growth
Sales growth (latest year)-0.68%
Profit growth (latest year)-19.14%
Sales CAGR, 3 years4.08%
Sales CAGR, 5 years18.93%
Profit CAGR, 3 years4.50%
Profit CAGR, 5 years13.36%
Sales growth QoQ26.82%
Profit growth QoQ100.77%
Sales growth YoY (latest quarter)2.75%
Profit growth YoY (latest quarter)-12.66%
Per share
EPS (TTM)Rs 46.12
EPS (latest year)Rs 47.95
EPS (latest quarter)Rs 12.68
EPS, 3-year averageRs 48.47
EPS, 5-year averageRs 39.78
Book value per shareRs 378.55
Sales per shareRs 579.16
Cash flow per shareRs 108.44
Free cash flow per shareRs -42.79
Dividend per share (latest year)Rs 20.00
Dividend per share, 3-year averageRs 18.33
Dividend per share, 5-year averageRs 18.00
Dividends
Dividend payout41.71%
Dividend payout, 3-year average38.56%
Dividend payout, 5-year average54.00%
Efficiency
Asset turnover0.64x
Fixed asset turnover1.13x
Inventory turnover43.32x
Inventory days8 days
Debtor days29 days
Debtors turnover12.43x
Cash conversion cycle29 days
Working capital days-35 days
Leverage
Total debtRs 13,971 Cr
Cash and bankRs 831 Cr
Net debtRs 13,139 Cr
Debt to equity0.73x
Net debt / EBITDA2.23x
Interest coverage4.21x
Current ratio (filing 2026-03-31)0.95x
Quick ratio (filing 2026-03-31)0.90x
Trade payables (filing 2026-03-31)Rs 1,879 Cr
Owners' fund to total sources42.35%
Debt to assets31.01%
Cash flow
Cash from Operating Activity (latest year)Rs 5,464 Cr
Cash from Investing Activity (latest year)Rs -8,088 Cr
Cash from Financing Activity (latest year)Rs 3,101 Cr
Net Cash Flow (latest year)Rs 478 Cr
Free cash flow (latest year)Rs -2,156 Cr
FCFE (approx.: FCF + change in debt)Rs 2,975 Cr
Cash from ops / profit, 5 years2.10x
Sales to cash flow5.30x
Statement figures
Net sales (TTM)Rs 29,184 Cr
Net sales (latest year)Rs 28,966 Cr
Sales (latest quarter)Rs 8,124 Cr
Operating profit excl. other income (latest year)Rs 5,577 Cr
Operating profit (latest quarter)Rs 1,538 Cr
Other income (TTM)Rs 299 Cr
EBITDA (TTM)Rs 5,895 Cr
PBDT (TTM)Rs 4,880 Cr
Profit before tax (TTM)Rs 3,257 Cr
Tax (latest year)Rs 847 Cr
Net profit (TTM)Rs 2,324 Cr
Net profit (latest year)Rs 2,416 Cr
Net profit (latest quarter)Rs 639 Cr
Depreciation (TTM)Rs 1,623 Cr
Depreciation (latest quarter)Rs 400 Cr
Interest (TTM)Rs 1,015 Cr
Cost of goods sold (latest year)Rs 21,970 Cr
Total expenditure (latest year)Rs 23,389 Cr
Total income (latest year)Rs 29,253 Cr
Share capitalRs 504 Cr
ReservesRs 18,571 Cr
Shareholders' fundsRs 19,075 Cr
Total assetsRs 45,045 Cr
Net blockRs 25,611 Cr
Capital work in progressRs 6,965 Cr
InvestmentsRs 1,531 Cr
ReceivablesRs 2,330 Cr
InventoryRs 507 Cr
Other liabilitiesRs 11,999 Cr
Shares outstanding (crore)50.39
Ownership
Promoter holding51.09% (+0.00 in a year)
Computed by MarketFriction from the consolidated statements. Returns use average balances.
P/E 26.9 is at the 65th percentile of its own 9.4-year range (median 22.0, low 11.8, high 64.6).
P/B 3.28 is at the 67th percentile (median 2.47).
Monthly. Market cap from split-adjusted price; profit and book value as reported by that month. A low percentile means cheap versus its own history, not cheap versus peers.
PeriodTORNTPOWERNifty 50Difference
1 week-0.1%-2.8% +2.7 pts
1 month+1.9%-6.8% +8.7 pts
3 months-9.0%-7.6% -1.4 pts
6 months-4.8%+0.4% -5.2 pts
1 year-0.9%-9.9% +9.0 pts
2 years-33.2%-13.6% -19.7 pts
3 years+68.3%+14.2% +54.1 pts
5 years+147.9%+27.9% +120.0 pts
127 mutual fund schemes hold about ₹10,876 Cr. Over three months 10 bought more and 101 sold (share counts, price move removed).
FundWeightEst. Cr3m shares
SBI Contra Fund2.29%1,091 -6%
SBI Focused Fund1.66%851 -13%
SBI Large & Midcap Fund1.87%790 +17%
SBI Midcap Fund2.97%729 +11%
SBI Midcap Fund2.97%724 +11%
SBI ELSS Tax Saver Fund2.15%682 -5%
SBI Balanced Advantage Fund1.19%502 -6%
SBI Multicap Fund1.98%486 -16%
Nippon India Growth Mid Cap Fund0.82%426 -11%
Axis Midcap Fund1.09%374 -8%
Canara Rob Large and Mid Cap Fund1.32%346 -5%
Kotak Large & Mid Cap Fund0.90%292 -9%
Invesco India Midcap Fund1.77%282 -1%
SBI Energy Opportunities Fund3.33%278 -1%
Axis ELSS-Tax Saver Fund0.76%247 -37%
UTI Mid Cap Fund1.33%170 +33%
Axis Flexi Cap Fund1.15%160 -10%
Axis Flexi Cap Fund1.15%155 -10%
Edelweiss Mid Cap Fund0.78%155 -34%
SBI Infrastructure Fund3.03%146 -5%
Sundaram Mid Cap Fund0.98%146 -11%
Sundaram Mid Cap Fund0.98%142 -11%
Kotak Flexi Cap Fund0.24%137 -7%
Kotak Flexi Cap Fund0.24%136 -7%
SBI Large Cap Fundd0.25%136 -6%

Red flags

F-score 5 of 8
explainDebt up, profit down Borrowings up 58% while net profit fell in 2026
lookRegulator order or action Regulator order or action 2026-03-28: Torrent Power Limited has informed the Exchange about Demand order from the Office of the Additional Commissioner, Agra, Lucknow
Checks on the latest reported years: cash vs profit, accruals, receivables and inventory vs sales, dilution, debt, interest cover, equity, other income, losses, and auditor, top-management, insolvency and regulator filings in the last 12 months. A flag asks for an explanation; it is not a verdict.

Latest quarter

Jun 2026
Sales ₹8,124 Cr +2.8% vs Jun 2025. Net profit ₹662 Cr -10.8%.

Activity

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No bulk or block deals on record.
Ex-dateActionFactor
2026-06-19Dividend - Rs 5 Per Share
2026-02-16Interim Dividend - Rs 15 Per Share
2025-06-06Dividend - Rs 5 Per Share
2025-02-12Interim Dividend - Rs 14 Per Share
2024-06-14Dividend - Rs 4 Per Share
2024-02-16Interim Dividend - Rs 12 Per Share
2023-06-16Dividend - Rs 4 Per Share
2023-02-22Interim Dividend - Rs 09 Per Share / Special Dividend - Rs 13 Per Share
2022-02-10Interim Dividend - Rs 9 Per Share
2021-06-24 Dividend - Rs 5.50 Per Share
2021-02-16 Interim Dividend - Rs 5.50 Per Share
2020-02-18 Interim Dividend - Rs 11.60 Per Share
2019-06-13 Annual General Meeting/Dividend - Rs 5 Per Share
2018-06-08 Dividend- Rs 5 Per Share
2017-06-08 Dividend - Rs 2.20 Per Share
2016-03-17 Interim Dividend - Rs 4.50/- Per Share (Purpose Revised)
2015-06-11Dividend Rs 1.50 Per Share
2014-06-12Annual General Meeting / Dividend Rs. 0.50 Per Share
2013-06-13Dividend-Rs.2/- Per Share
2012-06-14Dividend - Rs.3.50 Per Share
2012-01-25Interim Dividend Rs.3/- Per Share (Purpose Revised)
2011-06-16Final Dividend Rs.3/- Per Share And Special Dividend Rs.2.50 Per Share
2010-06-17Dividend-Rs.3/- Per Share
2009-06-18Dividend-Rs.2/- Per Share
2008-06-19Dividend - 12%
2007-06-15Agm
2007-03-23Interim Dividend-4% Purpose Revised
2006-12-11Agm/Dividend-12%
DateTypeWhat it says
2026-09-16Concall / analyst meetSchedule of meet
2026-09-14Concall / analyst meetSchedule of meet
2026-09-08Press ReleaseA press release dated September 08, 2026, titled "Torrent Green Energy commissions landmark 322 MWp decentralized solar projects in Maharashtra under ...
2026-09-07Concall / analyst meetSchedule of meet
2026-08-25Concall / analyst meetSchedule of meet
2026-08-20ResignationResignation of Director/KMP/SMP
2026-08-20ResignationResignation of Director/KMP/SMP
2026-08-20ResignationResignation of Saurabh Mashruwala as Chief Financial Officer and Whole Time Key Managerial Personnel of the Company w.e.f. August 20, 2026.
2026-08-20AppointmentAppointment of Vikas Poddar as Chief Financial Officer and Whole Time Key Managerial Personnel and Senior Management Personnel of the company w.e.f. ...
2026-08-20Board meeting outcomeOutcome of Board Meeting held on August 20, 2026.
2026-08-19AcquisitionIntimation for incorporation of a New Step-Down Subsidiaries
2026-08-19Concall / analyst meetSchedule of meet
2026-08-11Concall / analyst meetSchedule of meet
2026-08-06Concall / analyst meetTranscript
2026-08-03Concall / analyst meetLink of Recording
2026-08-03Shareholder meetingTorrent Power Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on August 03, 2026
2026-08-03Shareholder meetingProceedings of Annual General Meeting held on August 03, 2026
2026-08-03Investor PresentationInvestor Presentation
2026-08-03Press ReleaseA press release dated August 03, 2026, titled "Media Release on Unaudited Consolidated Financial Results for the quarter ended June 30, 2026".
2026-08-03Board meeting outcomeTorrent Power Limited has submitted to the Exchange, the financial results for the period ended Jun 30, 2026.
2026-07-28Concall / analyst meetSchedule of meet
2026-07-13General UpdatesIntimation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
2026-07-10Shareholder meetingNotice of Annual General Meeting to be held on August 03, 2026
2026-06-25General UpdatesUpdates on acquisition.
2026-06-24Concall / analyst meetSchedule of meet
Company filings to NSE, newest first. Routine notices (trading window, newspaper copies) are left out. Click a row for the filing.
No short selling reported to NSE in our files.
Short sales disclosed by brokers to NSE, by trade date. Collected since late September 2026.
Not on any NSE surveillance list in the latest file.

Quick answers

What is the market cap of Torrent Power Ltd?

Torrent Power Ltd (TORNTPOWER) has a market capitalisation of Rs 61,486 Cr. at the 2026-10-01 close.

What is the P/E ratio of Torrent Power Ltd?

Torrent Power Ltd trades at a P/E of 26.5 on trailing twelve-month profit, at the 2026-10-01 close.

What were Torrent Power Ltd's latest quarterly results?

In the Jun 2026 quarter, Torrent Power Ltd sales was Rs 8,124 Cr (+2.8% vs Jun 2025) and net profit was Rs 662 Cr.

What is the 52-week high and low of Torrent Power Ltd?

The 52-week high is Rs 1,824.10 and the 52-week low is Rs 1,188.00.

Data: NSE and BSE daily reports, company filings. Numbers only, not investment advice, not a SEBI-registered research service.AboutMethodologyFAQResearchContactTermsPrivacyDisclaimerUpdated 2026-10-03