Power Generation incorporated a wholly owned subsidiary, Torrent Urja 38 Pvt Ltd
Gujarat State Financial Services Ltd is a major public shareholder, holding 2.36 per cent of the company.
Torrent Power Limited has announced the incorporation of a new step-down subsidiary, Torrent Urja 38 Private Limited (TU38), through its wholly-owned subsidiary, Torrent Green Energy Private Limited. TU38 has been established with an authorized and paid-up share capital of Rs 5,00,000 and is yet to commence business operations. The new entity will focus on the generation and distribution of renewable energy, including hydrogen and its derivatives, as well as other non-conventional energy sources. This strategic move aligns with Torrent Power's broader objectives to expand its footprint in the renewable energy sector. The company has been actively pursuing growth in this area, as evidenced by its recent initiatives in solar and wind power generation. TU38's incorporation marks another step in Torrent Power's commitment to enhancing its renewable energy capabilities and contributing to sustainable energy solutions.
Torrent Power Ltd is a prominent integrated power utility company in India, operating across power generation, transmission, and distribution. The company has a significant presence in Gujarat, Maharashtra, Uttar Pradesh, and Karnataka. Its business segments include Transmission & Distribution, which accounts for 89% of its operations, Thermal Power Generation at 8%, and Renewable Power Generation at 3%. Torrent Power is the sole power distribution licensee in several key regions of Gujarat and operates as a franchisee in other areas. The company has a robust renewable energy portfolio, with solar and wind power capacities under development. In FY24, the company reported a decline in margins to 17% from a historical average of 25%, attributed to the acquisition of new licensed areas. Torrent Power is committed to expanding its renewable energy capacity to 10 GW by 2030, with significant investments planned in solar, wind, and green hydrogen projects. The company is also developing a large-scale Pumped Hydro Storage Project and has entered into strategic acquisitions to enhance its transmission capabilities.
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As of April 04, 2025, Torrent Power Limited's stock is priced at Rs 1,566. The stock has a 52-week high of Rs 2,037.35 and a 52-week low of Rs 1,207.20. Torrent Power Limited has a market capitalization of over Rs 77,000 crore. The stock has delivered a 1-year return of 5 per cent and an impressive 5-year return of 450 per cent. The company's Price-Earnings (PE) Ratio stands at 33. Gujarat State Financial Services Ltd is a major public shareholder, holding 2.36 per cent of the company.
Disclaimer: The article is for informational purposes only and not investment advice.