Rs 16,252 crore order book: TATA Group-multibagger power company strengthens its nationwide e-bus charging network with high-capacity fast charging points

The stock gave multibagger returns of over 100 per cent in just 1 year whereas BSE Sensex Index is up by 23 per cent.

Tata Power is playing a key role in India's shift towards electric public transportation. Their subsidiary, Tata Power Renewable Energy Limited (TPREL), has installed over 850 high-capacity fast chargers across 30+ bus depots in major cities like Delhi, Mumbai, Bengaluru, and Ahmedabad. This extensive network supports over 2300 electric buses, significantly reducing reliance on fossil fuels. These fast chargers can replenish batteries in just 1-1.5 hours, ensuring efficient operation of e-buses for public transport.

Tata Power's commitment goes beyond just hardware. They collaborate with various government agencies and private companies (OEMs) to design and build efficient bus depots. Their focus lies on providing a comprehensive solution, including operation and maintenance services, effluent treatment plants, and obtaining necessary clearances. This ensures a smooth operation for State Transport Corporations like DTC and BEST. Notably, this network has already led to a reduction of over 1 lakh tonnes of tailpipe CO2 emissions, contributing to India's clean air goals.

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About Tata Power 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.

According to the Quarterly Results, the net sales increased by 27 per cent to Rs 16,256 crore in Q4FY24 compared to Q4FY23. The company reported a net profit of Rs 1,046 crore in Q4FY24 compared to a net profit of Rs 939 crore in Q4FY23, an increase of 11 per cent. In 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. The company has delivered good profit growth of 75 per cent CAGR over the last 5 years and has been maintaining a healthy dividend payout of 23 per cent. The company's overall performance can be attributed to its effective management strategies.

With a robust order book of Rs 16,252 crore as of March 31, 2023, Tata Power is poised for an electrifying future. Tata Power Company Ltd is primarily involved in the business of the generation, transmission and distribution of electricity.

The company has a market cap of over Rs 1.44 lakh crore. The stock gave multibagger returns of over 100 per cent in just 1 year whereas BSE Sensex Index is up by 23 per cent. Investors should keep an eye on this Mid-Cap power stock.

Disclaimer: The article is for informational purposes only and not investment advice.