Q3 2026 Tata Power Company Ltd Earnings Call Transcript
Key Points
- Tata Power Co Ltd (BOM:500400) reported a 12% year-on-year increase in EBITDA for the quarter, reaching INR3,913 crores.
- The company added 45 gigawatts of capacity in the fiscal year, with 38 gigawatts being renewable, indicating strong growth in the renewable sector.
- The solar cell and module manufacturing business showed significant growth, with a PAT increase to INR251 crores from INR112 crores in the previous year.
- The rooftop solar segment performed well, with a PAT increase to INR111 crores from INR60 crores in the previous year.
- Odisha DISCOMs showed improved performance, with profits rising to INR226 crores in the quarter compared to INR86 crores last year.
- Mundra plant was non-operational for the quarter, resulting in a substantial financial hit.
- The power demand growth was lower than expected, at nearly 7%, which is less than the previous year.
- There were challenges in executing renewable projects due to delays in transmission line availability.
- The Delhi distribution business saw a regulatory adjustment that inflated EBITDA, raising concerns about transparency.
- The company faced INR800 crores of losses at the PAT level due to the Mundra plant being shut for six months.
Ladies and gentlemen, good day, and welcome to the Tata Power Q3 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.
Thank you. Thank you very much, and good evening to everyone, and thanks for joining in the call. I have my colleague, Sanjeev Churiwala, CFO; J.V. Patil, Group Financial Controller; Kasturi, Chief Treasury; and from Investor Relations, we have Anshul and some of my other colleagues from the finance department. Before I share with you some of the salient features of the quarter performance, just to give you a little background, the power demand during the quarter three and nine months for the last financial year has been, I would say, not very high, but has been nearly 7%, which is less than what it was the previous year.
But I think
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