Rs 13,018 crore order book: TATA-Group EV-charger & solar company has successfully completed the merger of its subsidiaries with TPREL

The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 230.75 per share and a whopping 675 per cent in 5 years.

Tata Power Renewable Energy Limited (TPREL) has successfully completed the merger of its subsidiaries, TP Wind Power Limited, Walwhan Renewable Energy Limited, and others, with itself. This amalgamation, approved by the National Company Law Tribunal (NCLT), aims to streamline operations, enhance synergies, and consolidate TPREL's position as a leading renewable energy player. The merger will also simplify the corporate structure, reducing administrative costs and improving decision-making efficiency.

As a result of the merger, TPREL will now have a more comprehensive portfolio of renewable energy assets, including wind, solar, and hybrid projects. This expanded asset base will enable TPREL to capitalize on growth opportunities in the renewable energy sector, contribute to India's clean energy goals, and provide reliable, sustainable power solutions to customers. The merger also aligns with Tata Power's broader strategy of focusing on renewable energy as a key growth driver.

Earlier, Tata Power signed a significant MoU with the Rajasthan government to invest Rs 1.2 lakh crore in renewable energy projects, solar manufacturing, grid modernization, nuclear power exploration, and EV charging infrastructure. This partnership aims to transform Rajasthan into a power surplus state, providing clean and affordable electricity. The MoU encompasses a wide range of initiatives, including developing 10,000 MW of renewable energy capacity, establishing a solar manufacturing facility, investing in transmission and distribution upgrades, exploring nuclear power options, and setting up 1 lakh EV charging points. This investment is expected to create over 28,000 jobs and contribute to India's clean energy goals.

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 13.3 per cent to Rs 17,540.98 crore in Q1FY25 compared to the total income of Rs 15,484.71 crore in Q1FY24. The company reported a net profit of Rs 1,188.63 crore in Q1FY25 compared to a net profit of Rs 1,140.97 crore in Q1FY24, an increase of 4.2 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.

With a robust order book of Rs 13,018 crore as of June 30, 2024, Tata Power is poised for an electrifying future. Tata Power Company Ltd is primarily involved in generating, transmitting and distributing electricity. The company has a market cap of over Rs 1.50 lakh crore. The stock gave multibagger returns of over 100 per cent from its 52-week low of Rs 230.75 per share and a whopping 675 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.