Tata Power’s key products/revenue segments include Power Supply, Project Management Fees, Other Operating Revenue, Power Distribution Net Work, Income from Finance Leases and Fly Ash for the year ending 31-Mar-2024.
Financials
For the quarter ended 30-09-2024, the company has reported a Consolidated Total Income of Rs 16210.80 crore, down -7.58% from last quarter Total Income of Rs 17540.98 crore and up 1.13% from last year same quarter’s Total Income of Rs 16029.54 crore. The company has reported net profit after tax of Rs 858.00 Crore in latest quarter. The company?s top management includes Mr.Natarajan Chandrasekaran, Mr.Praveer Sinha, Mr.Rajiv Mehrishi, Mr.Ashok Sinha, Mr.Tarun Bajaj, Mr.Saurabh Agrawal, Ms.Anjali Bansal, Ms.Vibha Padalkar, Mr.Sanjay V Bhandarkar. Company has SRBC & Co LLP as its auditors. As on 30-09-2024, the company has a total of 320 Crore shares outstanding. Investment Rationale
JM Financial attended Tata Power’s annual Analyst Meet 2024 hosted at the newly commissioned 4.3GW cell and module manufacturing facility at Tirunelveli in Tamil Nadu. The management shared its aspirations of 1.6x/ 2.4x/ 2.5x growth in revenue/ EBITDA/ PAT during FY24-30. Given the commissioning of its solar PV cell and module manufacturing facilities, execution momentum in renewables, anticipated awarding of new distribution licences within the next 18 to 24 months, and beginning of construction of PSPs and new hydro projects. The brokerage believes there is a strong likelihood of the company achieving its 2030 targets. They maintain a BUY rating on the stock with an SOTP-based target price of Rs 481. Promoter/FII Holdings
Promoters held 46.86 per cent stake in the company as of 30-Sep-2024, while FIIs owned 9.15 per cent, DIIs 16.54 per cent.
(Disclaimer: Recommendations given in this section or any reports attached herein are authored by an external party. Views expressed are that of the respective authors/entities. These do not represent the views of Economic Times (ET). ET does not guarantee, vouch for, endorse any of its contents and hereby disclaims all warranties, express or implied, relating to the same. Please consult your financial adviser and seek independent advice.
