Torrent Power Ltd. (TPL) is engaged in the business of electricity generation, transmission and distribution.
It is a prominent player in the Indian power sector. It possesses an installed generation capacity of 3.7 GW and underconstruction capacity of 0.8 GW. It has a well-established track record of successfully executing a number of large power projects. It is the only company which is the sole electricity distributor to the cities of Ahmedabad, Surat, Bhiwandi and Agra, with a distribution reach of more than 1,367 sq. km. Additionally, it is also engaged in the manufacture and supply of power cables.
Financial Performance
The consolidated financial performance for the quarter ended March 2019 stands as follows: Total income from operations increased 4.07 per cent YoY to 2,924.80 crore in Q4FFY19 as against 2,810.36 crore in Q4FY19. EBITDA showcased a modest growth of 2.83 per cent YoY as it reached 709.80 crore in Q4FY19 from 690.26 crore in Q4FY18. Consequently, EBITDA margin stood at 24.27 per cent in Q4FY19 versus 24.56 per cent in Q4FY18. Net profit dropped substantially to 24.80 crore in Q4FY19 from 221.25 crore in Q4FY18, a drastic fall of 88.79 per cent. As a result, EPS sank to 0.50 in Q4FY19 from 4.51 in Q4FY18.
The consolidated financial performance for the year ended March 31, 2019, stands as follows: Total income from operations increased 14.24 per cent YoY to 13,150.97 crore in FY19 from 11,512.09 crore in FY18. EBITDA exhibited a minor improvement of 2.64 per cent as it rose to 3,199.48 crore in FY19 from 3,117.13 crore in FY18. EBITDA margin came in at 24.33 per cent in FY19 in comparison to 27.08 per cent in FY18. Net profit dipped 5.07 per cent to 903.83 crore in FY19 from 952.12 crore in FY18. As a consequence, net profit margin (NPM) stood at 6.87 per cent in FY19 while it was reported at 8.27 per cent in FY18. EPS declined 4.64 per cent YoY to 18.70 in FY19 from 19.61 in FY18.
This story is from the July 22, 2019 edition of Dalal Street Investment Journal.
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This story is from the July 22, 2019 edition of Dalal Street Investment Journal.
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