Rs 15,900 crore order book: TATA-Group EV-charger & solar company approved investment for 1000 MW pumped storage hydro project worth Rs 5,666 crore in Bhivpuri
The stock is up by 99.4 per cent from its 52-week low of Rs 244 per share and gave multibagger returns of over 650 per cent in 5 years.
The Tata Power Company Limited Board of Directors has approved a significant investment of Rs 5,666 crore for the development of a 1000 MW Pumped Storage Hydro Project (PSP) in Bhivpuri. This strategic move aligns with the increasing demand for renewable energy solutions and the need for reliable, round-the-clock power supply. The PSP project, scheduled to be completed within 44 months, will enhance the company's existing capacity of 15.2 GW and play a crucial role in enabling the integration of renewable energy sources into the grid. By facilitating energy shifting and contributing to the decarbonization of hard-to-abate industries, this project underscores Tata Power's commitment to sustainable energy solutions and its vision for a greener future.
About Tata Power Company Ltd
Tata Power, a leading integrated power company under India's largest conglomerate Tata Group, boasts a diverse portfolio of 14,707 MW spanning the entire power spectrum. This includes the generation of both renewable and conventional energy, along with transmission, distribution, trading, storage solutions and even solar cell and module manufacturing. As champions for clean energy, they've committed to achieving carbon neutrality before 2045. Beyond generation, Tata Power has established India's most comprehensive clean energy platform, offering rooftop solar solutions, microgrids, storage solutions, EV charging stations and home automation systems.
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Tata Power Company Ltd reported its 20th consecutive quarterly PAT growth. During the quarter that ended September 30, 2024, the Company reported its highest-ever PAT before exceptional items of Rs 1,533 crore, up 51 per cent YoY. Consolidated EBITDA during the quarter rose 23 per cent to Rs 3,808 Crore on the back of ramped-up solar manufacturing, favorable regulatory development in distribution and operational efficiency across businesses. For the H1FY25 period, the company clocked its highest-ever Revenue, EBITDA, and PAT before exceptional items at Rs 32,057 crore, Rs 7,158 crore, and Rs 2,721 Crore, respectively. Looking at its annual results, the net sales increased by 10 per cent to Rs 61,542 crore and net profit increased by 12 per cent to Rs 4,280 crore in FY24 compared to FY23.
With a robust order book of Rs 15,900 crore as of June 30, 2024, Tata Power is poised for an electrifying future. The company has a market cap of over Rs 1.30 lakh crore. The stock is up by 99.4 per cent from its 52-week low of Rs 244 per share and gave multibagger returns of over 650 per cent in 5 years. Investors should keep an eye on this mid-cap power stock.
Disclaimer: The article is for informational purposes only and not investment advice.