Rs 16,252 crore order book: TATA Group-multibagger solar microgrid power company signs MoU with National Dairy Development Board (NDDB); details inside!

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 220 per share whereas BSE Sensex Index is up by 23 per cent in the same period.

TP Renewable Microgrid Limited (TPRMG) and the National Dairy Development Board (NDDB) have joined forces to revolutionize the dairy industry through renewable energy. TPRMG, a leading solar microgrid company under the Tata Power umbrella, has signed a Memorandum of Understanding (MoU) with NDDB, a pioneer in rural development through dairy cooperatives. This strategic partnership aims to integrate sustainable energy solutions into the entire milk value chain.

The collaboration will focus on several key initiatives to enhance the efficiency and sustainability of dairy operations. These include the installation of solar microgrids to power Dairy Cooperative Societies, Bulk Milk Coolers, and Milk Chilling Centers. Moreover, the partnership will explore the integration of biogas power generators fuelled by cow dung into these microgrids, promoting circular economy principles. To further optimize energy consumption, energy-efficient stoves, solar dryers, and cold storage solutions will be implemented. A comprehensive energy audit will be conducted to identify areas for improvement and implement efficient, sustainable solutions.

This groundbreaking partnership between TPRMG and NDDB is poised to set a new industry standard for sustainability. By harnessing the power of the sun and biogas, the collaboration will significantly reduce energy costs, minimize environmental impact and empower rural communities. This initiative aligns with India's renewable energy goals and contributes to the overall development of the dairy sector.

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.

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 1.40 lakh crore. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 220 per share whereas BSE Sensex Index is up by 23 per cent in the same period. Investors should keep an eye on this Mid-Cap power stock.

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

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