Q3 2026 Torrent Power Ltd Earnings Call Transcript
Key Points
- Reported PBT for the quarter increased by 28% to INR805 crores compared to the previous year.
- Thermal Generation Business saw a significant contribution increase of INR163 crores due to favorable regulatory orders.
- Distribution business contribution increased by INR106 crores, aided by improved T&D losses and higher ROE and ROCE.
- The company has a robust project pipeline, including 4 GW of renewable capacity and 3 GW of storage capacity.
- CapEx for renewable projects showed a significant increase, with INR1,750 crores spent in Q3 alone.
- Lower contribution from the sale of merchant power and LNG by INR75 crores.
- Higher expenses due to foreign currency fluctuations and other factors increased by INR35 crores.
- Demand growth was weak in the last 15 days, attributed to extended monsoons and strong demand in the previous year.
- Challenges in the renewable sector due to transmission issues and wind execution difficulties.
- The company faces potential delays in project execution due to transmission constraints.
Ladies and gentlemen, good day and welcome to Torrent Power Limited Q3 FY26 Earning Conference Call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Saurabh Mashruwala, Executive Director and CFO from Torrent Power Limited. Thank you, and over to you, sir.
Thank you. Good evening to all of you, and thank you for joining Torrent Power for Q3 FY26. First, I will take you through the performance of the quarter, after which phone lines will be open for the Q&A session. We'll explain the performance of the company at CBT level first, then we'll take you through the tax expenses separately. Reported PBT for the quarter stood at INR805 crores as compared to INR630 crores in the corresponding quarter of last year, an increase of INR175 crores, that is, above 28% on a reported basis. PBT for the corresponding quarter of the last include non-recently income of INR77 crores on account of sale of cable business.
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