Torrent Power Ltd (NSE: TORNTPOWER): Torrent Power has informed us that the company has won the bid from Railways for a 100 MW renewable power supply project. The company has won the bid for a power supply project worth about Rs 2700 crore for 25 years.
In a regulatory filing, the company stated that the project would be completed within 24 months after signing the power-purchase agreement.
The cost of the project is approximately ₹2700 crore. There is a 325 MW wind and solar capacity to supply 100 MW RTC power.
Stock Performance
Torrent Power shares rose today. It closed at Rs. 1,115, a 3.45 percent increase. The 52-week highest share price is Rs. 1,23,695.
The stock has seen an increase of 116.25 percent in the last year. Talking about shareholding, the promoters’ stake remains unchanged at 53.57 percent in the December 2023 quarter. Whereas mutual funds have increased their holdings from 16.03 percent to 16.35 percent.
Gujarat-based Torrent Power reported a consolidated profit of Rs 359.8 crore for the quarter ending December 2023, down about 47 percent from the previous financial year. The third-quarter income from operations also dropped 1.2 percent on an annual basis to Rs 63.66 billion.
About Torrent Power Ltd Company
Torrent Power Limited is an integrated utility that generates, transmits, and distributes electricity in India.
The company has a thermal power plant that generates 3,092 megawatts and renewable power plants that produce 1,804 Megawatts.
The company also distributes power in Ahmedabad and Gandhinagar as well as Surat, Dahej SEZ, the UTs of Dadra & Nagar Haveli & Daman & Diu, covering an approximate area of 1,028 sq km.
It is also a franchisee in the cities of Bhiwandi Agra and Shil-Mumbra-Kalwa, covering approximately 1,007 sq km.
The company was founded in India in 2004. It is located in Ahmedabad. Torrent Power Limited, a subsidiary company of Torrent Investments Private Limited, was founded in 2004.
Fundamental Analysis of Torrent Power Ltd
| Market Cap | ₹53,649 Cr. |
| Current Price | ₹ 1,116 |
| 52-wk High | ₹ 1,237 |
| 52-wk Low | ₹ 484 |
| Stock P/E | 29.0 |
| Book Value | ₹ 247 |
| Dividend | 1.16 % |
| ROCE | 18.3 % |
| ROE | 19.6 % |
| Face Value | ₹ 10.00 |
| P/B Value | 4.53 |
| OPM | 17.0 % |
| EPS | ₹ 38.5 |
| Debt | ₹ 10,685 Cr. |
| Debt to Equity | 0.90 |
Torrent Power Ltd Share Price Target 2024 To 2030
| Year | 1st Target | 2nd Target |
| 2024 | ₹ 1200 | ₹ 1380 |
| 2025 | ₹ 1400 | ₹ 1548 |
| 2026 | ₹ 1600 | ₹ 1789 |
| 2027 | ₹ 1800 | ₹ 2000 |
| 2028 | ₹ 2145 | ₹ 2356 |
| 2029 | ₹ 2458 | ₹ 2600 |
| 2030 | ₹ 2648 | ₹ 2789 |
Torrent Power Ltd Shareholding Pattern
| Promoters Holding | |
| Dec 2022 | 53.56% |
| Mar 2023 | 53.56% |
| June 2023 | 53.56% |
| Sept 2023 | 53.56% |
| Dec 2023 | 53.56% |
| FII Holding | |
| Dec 2022 | 6.73% |
| Mar 2023 | 6.30% |
| June 2023 | 6.04% |
| Sept 2023 | 6.17% |
| Dec 2023 | 6.13% |
| DII Holding | |
| Dec 2022 | 21.31% |
| Mar 2023 | 21.63% |
| June 2023 | 21.68% |
| Sept 2023 | 21.63% |
| Dec 2023 | 21.62% |
| Govt. Holding | |
| Dec 2022 | 1.47% |
| Mar 2023 | 1.47% |
| June 2023 | 1.47% |
| Sept 2023 | 1.47% |
| Dec 2023 | 1.47% |
| Public Holding | |
| Dec 2022 | 16.94% |
| Mar 2023 | 17.02% |
| June 2023 | 17.25% |
| Sept 2023 | 17.19% |
| Dec 2023 | 17.23% |
Torrent Power Ltd Share: Last 5 Years’ Financial Condition
To better understand how the market is performing, let’s look at the outlook of this share in the previous years.
However, investors should be aware of the risks and the market conditions before making any investment decision.
Last 5 Years’ Sales:
| 2019 | ₹ 13,151 Cr |
| 2020 | ₹ 13,641 Cr |
| 2021 | ₹ 12,173 Cr |
| 2022 | ₹ 14,258 Cr |
| 2023 | ₹ 26,692 Cr |
Last 5 Years’ Net Profit:
| 2019 | ₹ 904 Cr |
| 2020 | ₹ 1,179 Cr |
| 2021 | ₹ 1,296 Cr |
| 2022 | ₹ 459 Cr |
| 2023 | ₹ 1,933 Cr |
Last 5 Years’ Debt-To-Equity Ratio:
| 2019 | 0.99 |
| 2020 | 0.85 |
| 2021 | 0.66 |
| 2022 | 0.92 |
| 2023 | 0.95 |
Last 10 Years’ Profit Growth:
| 10 Years: | 19% |
| 5 Years: | 18% |
| 3 Years: | 11% |
| Current Year: | -21% |
Last 10 years’ Return on Equity (ROE):
| 10 Years: | 11% |
| 5 Years: | 14% |
| 3 Years: | 14% |
| Last Year: | 20% |
Sales Growth Over 10 Years:
| 10 Years: | 12% |
| 5 Years: | 17% |
| 3 Years: | 24% |
| Current Year: | 14% |
Conclusion
This article is a complete guide about Torrent Power Ltd Share. This information and forecasts are based on our research, company fundamentals, history, experiences, and technical analyses.
Also, We have discussed the share’s prospects and growth potential in detail.
This information will help you in your further investment.
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