Torrent Power LimitedTORNTPOWERCorporate

Utilities Utilities - Independent Power Producers Latest results: Mar 2026 14 quarters of data

₹1,226.30

MCap ₹61,794 Cr · P/E 24.0

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AI-assisted data: figures and text on this page are extracted from public quarterly filings with AI assistance, checked automatically and overseen by our editorial team (human in the loop). They may still contain errors or omissions. Verify critical numbers against official company / SEBI / NSE / BSE filings before making any decision. Educational information only, not financial advice.

₹4,480 Cr

Sales · Mar 2026

-4.5% YoY

₹931 Cr

Operating Profit · Mar 2026

+0.3% YoY

20.8%

OPM % · Mar 2026

+5.1% YoY

₹432 Cr

Net Profit · Mar 2026

-60.4% YoY

₹8.57

EPS · Mar 2026

-60.4% YoY

📝 Torrent Power Limited — results explained

Quarter ended March 2026 (Q4 FY26)

Torrent Power Limited reported revenue of ₹4,480 crore for the quarter ended March 2026 (Q4 FY26), down 4.5% from ₹4,692 crore in the same quarter last year, and down 12.1% sequentially over the December 2025 quarter.

Net profit fell 60.4% year-on-year to ₹432 crore, from ₹1,090 crore. Earnings per share (EPS) came in at ₹8.57.

Operating profit stood at ₹931 crore — an operating margin (OPM) of 20.8%, compared with 19.8% in the year-ago quarter.

Full year and trailing twelve months

For the full year FY26, Torrent Power Limited posted revenue of ₹21,850 crore, a decline of 0.3% over FY25, with a net profit of ₹2,575 crore (down 10.5% year-on-year).

On a trailing-twelve-month (TTM) basis, revenue stands at ₹21,850 crore with a net profit of ₹2,575 crore.

Valuation snapshot

At the current price of ₹1,226.30, TORNTPOWER has a market capitalisation of ₹61,794 crore and a trailing P/E of about 24.0.

Within the Utilities - Independent Power Producers industry, it is the 5th-largest of the 5 companies we track by market value.

Shareholding pattern

As of Jun 2026, promoters held 51.09%, foreign institutional investors (FIIs) 8.52%, domestic institutional investors (DIIs) 22.68%, the government 8.35%, public shareholders 9.36% of Torrent Power Limited.

📈 Share price & events

📊 Quarterly trend

₹ crore · OPM % on right axis

🎯 Key metrics

price-linked ratios use the latest close

Valuation

Market Cap ?

₹61,794 Cr

Current Price ?

₹1,226.3

P/E ?

24.00below ind

Industry P/E ?

26.50

P/B ?

3.24

P/S ?

2.83

P/FCF ?

21.39

Enterprise Value ?

₹70,105 Cr

EV/EBITDA ?

15.59

PEG ?

3.00

Earnings Yield ?

4.8%

Dividend Yield ?

1.63%

Profitability & Returns

Sales (TTM) ?

₹21,850 Cr

OPM ?

20.6%

Profit after tax (TTM) ?

₹2,575 Cr

EPS (TTM) ?

₹51.11

ROCE ?

16.0%

ROE ?

13.5%

ROA ?

7.2%

Growth

Sales — latest qtr ?

₹4,480 Cr

PAT — latest qtr ?

₹432 Cr

YoY qtr sales growth ?

-4.5%

YoY qtr profit growth ?

-60.4%

Sales growth (3y) ?

Sales growth (5y) ?

13%

Profit growth (3y) ?

Profit growth (5y) ?

15%

Financial Health

Debt ?

₹8,311 Cr

Debt to Equity ?

0.44

Interest Coverage ?

4.8

Current Ratio ?

N/A

Ownership

Promoter holding ?

51.09%

Change in promoter holding ?

0.00%

Pledged percentage ?

N/A

Market

Return 3 months ?

-11.8%

Return 6 months ?

-21.6%

🗓️ Quarterly results (14 quarters · ₹ Cr)

same fiscal quarter as Mar bestweakest per row · for costs (interest, NPAs) low is best Highlight

Metric	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	YoY %	QoQ %
Sales	4,867	4,301	5,381	5,106	4,681	4,787	7,186	5,288	4,746	4,692	6,167	6,106	5,097	4,480	-4.5%	-12.1%
Operating Profit	1,334	906	1,005	996	904	956	1,572	934	923	928	1,171	1,206	1,189	931	+0.3%	-21.7%
Other Income	—	114	100	140	93	157	145	201	162	179	173	188	157	169	-5.6%	+7.9%
Interest	177	158	192	194	191	204	227	228	232	187	164	164	191	176	-5.9%	-8.0%
Depreciation	265	271	274	277	283	288	263	266	269	275	277	266	294	299	+8.7%	+1.6%
Profit Before Tax	986	591	639	664	522	621	1,228	641	585	644	902	963	860	624	-3.1%	-27.5%
Net Profit	695	435	479	492	384	444	928	492	369	1,090	685	746	712	432	-60.4%	-39.3%
EPS	14.46	9.05	9.96	10.23	7.98	9.23	19.32	10.23	7.56	21.63	13.59	14.81	14.13	8.57	-60.4%	-39.3%
OPM %	27.4%	21.1%	18.7%	19.5%	19.3%	20.0%	21.9%	17.7%	19.5%	19.8%	19.0%	19.8%	23.3%	20.8%	+5.1%	-10.7%

📆 Annual results (₹ Cr, FY = Apr–Mar)

Metric	FY25	FY26	TTM	YoY %
Sales	₹21,913 Cr	₹21,850 Cr	₹21,850 Cr	-0.3%
Operating Profit	₹4,357 Cr	₹4,497 Cr	₹4,497 Cr	+3.2%
OPM %	19.88%	20.58%	20.58%	+3.5%
NPM %	13.14%	11.79%	11.79%	-10.3%
Other Income	₹687 Cr	₹686 Cr	₹686 Cr	-0.1%
Depreciation	₹1,073 Cr	₹1,136 Cr	₹1,136 Cr	+5.9%
Interest	₹874 Cr	₹696 Cr	₹696 Cr	-20.4%
EBIT	₹3,284 Cr	₹3,361 Cr	₹3,361 Cr	+2.3%
PBT	₹3,098 Cr	₹3,350 Cr	₹3,350 Cr	+8.1%
Tax	₹216 Cr	₹365 Cr	₹365 Cr	+68.9%
Net Profit	₹2,878 Cr	₹2,575 Cr	₹2,575 Cr	-10.5%
EPS	₹58.74	₹51.10	₹51.10	-13.0%
Material Cost	₹3,356 Cr	₹7,709 Cr	₹7,709 Cr	+129.7%
Employee Cost	₹150 Cr	₹303 Cr	₹303 Cr	+101.3%
Extraordinary Items	—	—	—	—

🏛️ Balance Sheet (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Equity Capital	481	481	504	504	+0.0%
Reserves	10,539	11,558	16,952	18,564	+9.5%
Borrowings	8,430	9,744	6,388	8,311	+30.1%
Other Liabilities	6,538	7,409	7,815	8,424	+7.8%
Total Liabilities	25,988	29,191	31,659	35,802	+13.1%
Fixed Assets	14,766	16,143	15,692	15,854	+1.0%
CWIP	1,609	816	756	954	+26.2%
Investments	2,494	2,742	2,416	7,206	+198.3%
Other Assets	7,119	9,490	12,795	11,788	-7.9%
Total Assets	25,988	29,191	31,659	35,802	+13.1%

💧 Cash Flow (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Cash from Operating Activity	3,118	3,414	4,278	4,694	+9.7%
Cash from Investing Activity	-2,137	-3,187	-2,881	-4,762	-65.3%
Cash from Financing Activity	-1,004	-101	-1,438	411	+128.6%
Net Cash Flow	-24	126	-41	343	+936.6%
Free Cash Flow	1,275	1,716	2,843	2,889	+1.6%
CFO/OP	84%	99%	102%	117%	+14.7%

➗ Ratios (latest 4 periods)

Metric	Mar 2023	Mar 2024	Mar 2025	Mar 2026	% Chg
Debtor Days	29	29	28	29	+3.6%
Inventory Days	—	—	—	102	—
Days Payable	—	—	—	316	—
Cash Conversion Cycle	29	29	28	-185	-760.7%
Working Capital Days	-12	-5	19	1	-94.7%
ROCE %	19%	15%	17%	16%	-5.9%

👥 Shareholding (latest 5 periods)

Metric	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	% Chg
Promoters	51.09%	51.09%	51.09%	51.09%	51.09%	+0.0%
FIIs	9.79%	8.82%	8.32%	8.40%	8.52%	+1.4%
DIIs	21.41%	22.16%	22.74%	22.82%	22.68%	-0.6%
Government	8.35%	8.35%	8.35%	8.35%	8.35%	+0.0%
Public	9.35%	9.60%	9.51%	9.33%	9.36%	+0.3%
No. of Shareholders	1,65,738	1,75,073	1,68,442	1,60,566	1,55,488	-3.2%

⚖️ Peer comparison

Industry: Utilities - Independent Power Producers · 5 companies · full page →

#	Company	CMP	MCap (Cr)	P/E	Sales TTM	NP TTM	OPM%	NPM%	Sales YoY%	NP YoY%	Qtr Rev Δ%	Qtr NP Δ%
1	ADANIPOWER Adani Power	₹186.90	360,431	25.3	59,033	14,532	37.4%	24.6%	-3.5%	1.7%	34.0%	47.2%
2	ADANIENSOL Adani Energy	₹1,272.60	155,633	52.4	30,480	3,091	29.9%	10.1%	50.9%	420.5%	42.4%	129.4%
3	TATAPOWER Tata Power	₹364.65	116,518	26.4	63,445	5,257	20.4%	8.3%	-4.7%	7.2%	5.6%	11.0%
4	JSWENERGY JSW Energy	₹518.45	94,999	43.7	18,965	2,460	53.5%	13.0%	60.9%	39.4%	1.2%	-36.3%
5	TORNTPOWER Torrent Power	₹1,304.90	65,754	27.8	28,966	2,412	19.1%	8.3%	-0.7%	-21.0%	-0.8%	-69.3%

❓ Frequently asked questions

What was Torrent Power Limited's revenue in Q4 FY26?

What was Torrent Power Limited's net profit in Q4 FY26?