Q4 2026 Tata Power Company Ltd Earnings Call Transcript
Key Points
- Tata Power Co Ltd (BOM:500400) reported a strong financial performance with a full-year PAT exceeding INR 5,000 crores and an 11% increase in EBITDA to INR 16,090 crores.
- The company's solar cell and module manufacturing plant delivered a PAT of INR 857 crores, more than double the previous year, indicating strong operational performance.
- Rooftop solar installations doubled, contributing significantly to the company's profitability with a PAT of nearly INR 500 crores.
- Odisha DISCOM showed remarkable improvement with a PAT of INR 809 crores, up from INR 439 crores the previous year.
- Tata Power Co Ltd (BOM:500400) has a robust pipeline of nearly 5 gigawatts of utility-scale renewable projects, with 50% expected to be completed in the current financial year.
- The company faced challenges with the Mundra plant, which did not operate for nine months, impacting overall performance.
- There was a shortfall in CapEx execution, with actual spending at INR 130 billion, significantly below the guidance of INR 250 billion.
- Regulatory approvals for past periods in the Delhi distribution business have been unpredictable, making future financial impacts uncertain.
- Curtailment issues in solar projects due to transmission constraints have affected performance, with varying levels of power evacuation allowed.
- The Indonesian coal market poses potential risks with discussions of new export taxes, which could impact coal costs and profitability.
(Operator Instructions)
Ladies and gentlemen, good day, and welcome to the Tata Power Q4 and full year FY26 earnings conference call. (Operator Instructions) Please note that this conference is being recorded.
I now hand the conference over to Dr. Praveer Sinha, CEO and Managing Director of Tata Power for his opening remarks. Thank you, and over to you, sir.
Good evening, everyone, and thank you for joining for this call. I have with me my colleagues, Sanjeev Churiwala, the CFO; J.V. Patil, the Group Financial Controller; Kasturi, Chief Treasury and Investor Relations; Anshul and other colleagues from Finance and Corporate Communications.
Before I share with you some of the major highlights of the Q4 performance of the year, let me just quickly share with you our understanding of the power sector in the past few months and as of now. We saw in the last quarter that the increase in demand was very modest of 2%.
And we are
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