Is Torrent Power a good quality company?

Past 10 year's financial track record analysis by Moneyworks4me indicates that Torrent Power Ltd is a good quality company .

Is Torrent Power undervalued or overvalued?

The key valuation ratios of Torrent Power Ltd's currently when compared to its past seem to suggest it is in the Overvalued zone .

What is Torrent Power share price return in the past 10 years?

Torrent Power Ltd share price has appreciated 25.9% annually (CAGR) over the past ten years.

Is Torrent Power a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Torrent Power Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

Torrent Power Ltd - Stock Valuation and Financial Performance

Name: Torrent Power
Brand: Torrent Power

BSE: 532779 | NSE: TORNTPOWER | Power Generation/Distribution | Mid Cap

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Torrent Power Share Price

₹1,577 -4.30 -0.27%
as on 21-Nov'24 15:40

10 Year X-Ray of Torrent Power:

Analysis of Financial Track Record

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Standalone Basis ^P Consolidated Basis ^P

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Value Creation ⓘ

Value Creation Index Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
ROCE % ⓘ	14.6%	17.5%	10.8%	13.7%	12.2%	8.1%	13.2%	6.2%	19.3%	15.7%	-
Value Creation Index ⓘ	0.0	0.3	-0.2	0.0	-0.1	-0.4	0.0	-0.5	0.7	0.4	-
Growth Parameters ⓘ Growth Parameters Colour Code Guide ⓘ
Sales ⓘ	10,247	11,626	9,921	11,439	12,978	13,442	11,777	13,716	18,836	19,957	21,954
Sales YoY Gr.	-	13.5%	-14.7%	15.3%	13.5%	3.6%	-12.4%	16.5%	37.3%	6%	-
Adj EPS ⓘ	15.5	19.1	9	19.3	18.7	26	27.7	8.4	43.7	37.2	47.7
YoY Gr.	-	22.7%	-52.7%	114.2%	-3.3%	39.4%	6.4%	-69.6%	419.2%	-14.8%	-
BVPS (₹) ⓘ	146.2	134.4	139.9	160.1	185.9	191.2	213.3	207.4	229.3	250.5	276.8
Adj Net Profit ⓘ	733	916	434	929	898	1,251	1,332	405	2,101	1,790	2,293
Cash Flow from Ops. ⓘ	1,640	2,502	2,312	2,803	2,334	3,469	2,670	2,981	3,118	3,414	-
Debt/CF from Ops. ⓘ	3.4	3.4	3.8	3.3	3.9	2.4	2.7	2.6	2.7	2.8	-

CAGR ⓘ

CAGR Colour Code Guide ⓘ

	9 Years	5 Years	3 Years	1 Years
Sales ⓘ	7.7%	9%	19.2%	6%
Adj EPS ⓘ	10.2%	14.8%	10.4%	-14.8%
BVPSⓘ	6.2%	6.1%	5.5%	9.3%
Share Price	25.9%	40.7%	44.1%	92.3%

Key Financial Parameters ⓘ

Performance Ratio Colour Code Guide ⓘ

	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24	TTM
Return on Equity % ⓘ	11.2	13.7	6.5	12.7	10.8	13.8	13.7	4	20	15.5	18.1
Op. Profit Mgn % ⓘ	20.1	26.2	24.7	27.3	23.6	25.6	27.7	24	22.5	19	20.5
Net Profit Mgn % ⓘ	7.2	7.9	4.4	8.1	6.9	9.3	11.3	3	11.2	9	10.4
Debt to Equity ⓘ	0.8	1.3	1.3	1.2	1	0.9	0.7	0.8	0.8	0.8	0.6
Working Cap Days ⓘ	73	82	99	98	121	139	165	158	129	146	68
Cash Conv. Cycle ⓘ	12	14	19	19	23	18	15	13	12	16	14

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 18.10%

Sales growth is growing at healthy rate in last 3 years 19.22%

Net Profit is growing at healthy rate in last 3 years 10.35%

Debt to equity has declined versus last 3 years average to 0.81

Sales growth is good in last 4 quarters at 11.19%

No data to display

Latest Financials - Torrent Power Ltd.

	Standalone	Consolidated
TTM EPS (₹)	47.7	46.7
TTM Sales (₹ Cr.)	21,954	29,104
BVPS (₹.) ⓘ	276.8	277.1
Reserves (₹ Cr.) ⓘ	12,825	12,835
P/BV ⓘ	5.71	5.71
PE ⓘ	33.15	33.88

From the Market
52 Week Low / High (₹)	785.05 / 2037.35
All Time Low / High (₹)	50.00 / 2037.35
Market Cap (₹ Cr.)	76,000
Equity (₹ Cr.)	480.6
Face Value (₹)	10
Industry PE ⓘ	26.7

Management X-Ray of Torrent Power:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged ^*

0.00

* Pledged shares as % of Promoter's holding (%)

Valuation of Torrent Power

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Price to Earnings

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Dividend History

Analyst's Notes

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Key Ratios of Torrent Power

Standalone Basis Consolidated Basis

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Sales	10,247	11,626	9,921	11,439	12,978	13,442	11,777	13,716	18,836	19,957
Operating Expenses ⓘ	8,211	8,621	7,494	8,381	9,942	10,037	8,545	10,451	14,644	16,202
Manufacturing Costs	7,603	7,941	6,878	7,612	9,176	8,947	7,656	9,607	13,776	15,150
Material Costs	0	7	-4	1	-20	1	0	0	0	0
Employee Cost	338	390	416	465	484	528	522	514	514	544
Other Costs ⓘ	270	283	204	301	302	560	367	330	354	508
Operating Profit ⓘ	2,037	3,005	2,427	3,058	3,036	3,405	3,232	3,265	4,192	3,755
Operating Profit Margin (%)	19.9%	25.8%	24.5%	26.7%	23.4%	25.3%	27.4%	23.8%	22.3%	18.8%
Other Income ⓘ	350	291	193	268	268	263	250	365	467	596
Interest ⓘ	706	1,116	1,047	840	892	892	719	582	668	781
Depreciation ⓘ	548	899	989	1,111	1,163	1,230	1,180	1,234	1,059	1,123
Exceptional Items ⓘ	-23	-7	0	0	0	-1,000	0	-1,300	0	0
Profit Before Tax ⓘ	1,109	1,273	584	1,376	1,248	546	1,583	514	2,931	2,446
Tax ⓘ	367	374	152	454	359	-692	258	105	828	648
Profit After Tax	742	899	432	922	889	1,238	1,325	410	2,104	1,798
PAT Margin (%)	7.2%	7.7%	4.4%	8.1%	6.9%	9.2%	11.3%	3.0%	11.2%	9.0%
Adjusted EPS (₹)	15.7	18.7	9.0	19.2	18.5	25.8	27.6	8.5	43.8	37.4
Dividend Payout Ratio (%)	10%	24%	24%	26%	27%	45%	40%	106%	59%	43%

Balance Sheet

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Equity and Liabilities
Shareholders Fund	6,909	6,458	6,884	7,693	8,937	9,187	10,251	9,966	11,020	12,039
Share Capital ⓘ	472	481	481	481	481	481	481	481	481	481
Reserves ⓘ	6,436	5,978	6,404	7,212	8,456	8,707	9,771	9,485	10,539	11,558
Minority Interest	0	0	0	0	0	0	0	0	0	0
Debt	5,019	8,096	8,188	8,502	8,333	7,296	6,071	6,823	7,045	8,575
Long Term Debt	5,019	8,096	8,112	8,502	8,033	7,296	6,071	6,120	7,045	8,285
Short Term Debt	0	0	77	0	300	0	0	703	0	290
Trade Payables	621	735	733	657	804	1,027	971	1,108	1,081	1,090
Others Liabilities ⓘ	3,307	4,211	4,809	5,250	5,750	5,369	5,485	5,708	6,842	7,487
Total Liabilities ⓘ	15,856	19,501	20,615	22,102	23,825	22,880	22,778	23,605	25,988	29,191
Fixed Assets
Gross Block	12,436	15,808	18,488	19,799	21,159	22,155	23,078	24,290	25,774	28,236
Accumulated Depreciation	3,336	900	1,890	2,993	4,146	6,364	7,496	9,996	11,018	12,093
Net Fixed Assetsⓘ	9,101	14,907	16,598	16,806	17,012	15,791	15,582	14,294	14,756	16,143
CWIP ⓘ	166	204	323	393	359	568	838	1,186	1,609	816
Investmentsⓘ	2,658	695	754	989	1,162	1,021	781	1,414	2,494	2,742
Inventories	253	420	369	454	627	598	386	438	646	646
Trade Receivables	874	1,049	969	1,124	1,171	1,181	1,276	1,364	1,516	1,566
Cash Equivalents	1,580	778	269	270	326	224	189	207	282	311
Others Assetsⓘ	1,224	1,447	1,332	2,066	3,168	3,498	3,727	4,702	4,686	6,968
Total Assets ⓘ	15,856	19,501	20,615	22,102	23,825	22,880	22,778	23,605	25,988	29,191

Cash Flow

(All Figures are in Crores.)

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Cash Flow From Operating Activity ⓘ	1,640	2,502	2,312	2,803	2,334	3,469	2,670	2,981	3,118	3,414
PBT ⓘ	1,109	1,273	584	1,376	1,248	546	1,583	514	2,931	2,446
Adjustment ⓘ	821	1,597	1,836	1,743	1,777	3,078	1,684	2,778	1,313	1,317
Changes in Working Capital ⓘ	-176	-57	-5	-4	-413	135	-343	-82	-660	89
Tax Paid ⓘ	-115	-312	-104	-311	-279	-290	-254	-229	-466	-438
Cash Flow From Investing Activity ⓘ	-357	-913	-2,111	-2,493	-1,231	-1,096	-595	-2,512	-2,137	-3,187
Capex	-537	-1,302	-2,526	-1,663	-1,482	-671	-1,273	-1,493	-1,843	-1,697
Net Investments	101	569	57	-166	19	269	224	-494	-349	1
Others ⓘ	78	-181	358	-664	233	-695	454	-525	55	-1,491
Cash Flow From Financing Activityⓘ	-1,161	-2,126	-640	-278	-1,123	-2,408	-2,059	-402	-1,004	-101
Net Proceeds from Shares ⓘ	0	0	0	0	0	0	0	0	0	0
Net Proceeds from Borrowing ⓘ	-530	6,957	188	625	-405	-522	-1,141	4	1,229	1,021
Interest Paid ⓘ	-715	-1,167	-1,022	-820	-896	-807	-763	-600	-679	-799
Dividend Paid ⓘ	-24	-284	0	-106	-240	-798	-264	-697	-1,057	-769
Others ⓘ	107	-7,631	194	23	418	-281	109	890	-497	445
Net Cash Flow ⓘ	122	-537	-439	32	-20	-35	16	66	-24	126

Finance Ratio

Standalone Basis Consolidated Basis

PARTICULARS	Mar'15	Mar'16	Mar'17	Mar'18	Mar'19	Mar'20	Mar'21	Mar'22	Mar'23	Mar'24
Ratios
ROE (%)	11.34	13.45	6.56	12.79	10.69	13.66	13.63	4.05	20.05	15.6
ROCE (%)	14.6	17.45	10.78	13.72	12.24	8.09	13.19	6.22	19.33	15.69
Asset Turnover Ratio	0.66	0.66	0.5	0.54	0.57	0.58	0.52	0.59	0.76	0.72
PAT to CFO Conversion(x)	2.21	2.78	5.35	3.04	2.63	2.8	2.02	7.27	1.48	1.9
Working Capital Days
Receivable Days	30	30	37	33	32	32	38	35	28	28
Inventory Days	10	11	14	13	15	17	15	11	11	12
Payable Days	0	0	0	0	0	0	0	0	0	0

Torrent Power Ltd Stock News

Torrent Power Ltd FAQs

What is the share price of Torrent Power?

Company share prices are keep on changing according to the market conditions. The closing price of Torrent Power on 21-Nov-2024 15:40 is ₹1,577.

What is the market cap of Torrent Power?

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 21-Nov-2024 15:40 the market cap of Torrent Power stood at ₹75,999.9.

What is the P/E ratio of Torrent Power?

The latest P/E ratio of Torrent Power as of 21-Nov-2024 15:40 is 33.15.

What is the P/B ratio of Torrent Power?

The latest P/B ratio of Torrent Power as of 21-Nov-2024 15:40 is 5.71.

What is the 52-week high and low of Torrent Power?

The 52-week high of Torrent Power is ₹2,037.4 and the 52-week low is ₹785.0.

What is the TTM revenue of Torrent Power?

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Torrent Power is ₹21,954 ( Cr.) .

About Torrent Power Ltd

Torrent Power is one of the leading brands in the Indian power sector, promoted by Torrent Group - committed to its mission of transforming life by serving two of the most critical needs - healthcare and power. It is an integrated power utility and is one of the largest private sector players in India having interests in power generation, transmission, distribution and manufacturing and supply of power cables.

Torrent Power foresaw the prospects in the power sector much before the liberalization, when it took-over and successfully turned around an ailing power cable company Mahendra Electricals, renaming it as ‘Torrent Cables Ltd.’ (now merged with Torrent Power Limited w.e.f. 1st April, 2014). The high points of Torrent’s foray into power however were the acquisitions of two of the India’s oldest utilities - The Surat Electricity Company Ltd and The Ahmedabad Electricity Company Ltd. Torrent turned them into first rate power utilities, in terms of operational efficiencies and reliability of power supply.

Torrent ranks amongst the best run power utilities in the country with highly efficient generation assets. The Company offers highly personalized and innovative customer services that incorporate various convenience features. Torrent Power created history by entering into the country’s first distribution franchisee agreement with Maharashtra State Electricity Distribution Company Limited for Bhiwandi Circle in December 2006.

Business area of the company

Torrent Power has presence in power generation, transmission, distribution and manufacturing and supply of power cables. Its highly efficient generation assets and equally reliable distribution network are amongst the best in the country. Through continuous technology upgradation and customer care initiatives, Torrent Power continues to deliver enhanced value. For the customers in its license areas, disruption in life due to power failures or outages is a rare phenomenon, thanks to its outstanding operational efficiency.

Business areas

Generation
Transmission
Distribution (Distribution Licensee, Franchisee)
Cables

Milestones

1989-90

Mahendra Electricals taken over and renamed as ‘Torrent Cables Ltd.' - Torrent’s initial foray into power.

1996-97

Foundation stone for GTEC laid and Zero date announcedTorrent acquires management control of Surat Electricity Company.

1998-99

Torrent acquires management control of The Ahmedabad Electricity CompanyCombined Cycle operations of GTEC commissioned in mid-December 1998.

1999-00

Sale of equity stake in GTEC to Powergen India Pvt. Ltd. (India’s largest M & A transaction of the 20th century) The Ahmedabad Electricity Company’s customer base crosses 1 million mark.

2001-02

The Ahmedabad Electricity Company's turnover crosses the Rs. 10 billion mark.

2002-03

Work on 1147.5 MW combined cycle mega power project near Surat commenced.

2004-05

Torrent brings together three of its group companies Torrent Power AEC Limited, Torrent Power SEC Limited and Torrent Power Generation Limited under a single, unified brand - Torrent Power Torrent Power Generation Limited achieves financial closure.

2005-06

Torrent Power Generation Ltd. awards EPC contract for its upcoming SUGEN 1147.5 MW CCPP to a consortium of Siemens AG and Siemens Ltd. India; commences construction of its first power block Torrent Power Generation Ltd. and Siemens creats a 50:50 JV to provide O&M services to its SUGEN 1147.5 MW CCPP.

2006-07

Torrent Power bags MoP’s Gold Shield award for two years for outstanding performance in power distribution Torrent Power commences distribution operations in Bhiwandi, Maharashtra.

2007-08

Torrent Power Grid Ltd. obtains license from CERC to setup the 400kV transmission lineTorrent Power signs MOU with GPCL for setting up the 1000+ MW coal based power project at Pipavav in Gujarat.

2008-09

Phase I of Torrent Power Grid Ltd’s transmission system commissioned i.e LILO of Vapi-Jhanor.

2009-10

All three units of SUGEN Power Plant commissioned; commences commercial production Phase II of Torrent Power Grid Ltd’s transmission system commissioned i.e LILO of Dehgam-JhanorTorrent Power signs distribution franchise agreement with UPPCL for Agra and KanpurTorrent Power signs SHA with GPCL for setting up 1000+ MW coal based plant at Pipavav, district Amreli, Gujarat.

2010-11

Phase III of Torrent Power Grid Ltd’s transmission system commissioned i.e. 141 km line connecting phase II with the Pirana substation of PGCILTorrent Power commences distribution operations in Agra, Uttar Pradesh effective from 1st April, 2010 Torrent Power and its subsidiary, Torrent Energy Ltd., awards EPC contract to Siemens for implementing UNOSUGEN (standalone 382.5 MW generation plant at its existing SUGEN plant location) and DGEN (1200 MW generation plant at Dahej SEZ) projects Torrent Energy Ltd., subsidiary of Torrent Power Ltd., commenced distribution operations in Dahej SEZ effective from April 04, 2010.

2013-14:

The Company successfully uprates the 110 MW coal based E station of AMGEN, to 121 MW and synchronises the same with the grid on 21st October, 2013.
DGEN and UNOSUGEN get successfully registered with United Nations Framework Convention on Climate Change under the Clean Development Mechanism.
Torrent Power puts into commercial operation the 382.5 MW UNOSUGEN Power Project.
UNOSUGEN integrates with the certifications of SUGEN under ISO 9001:2008, ISO 50001:2011, ISO 14001:2004 and BS OHSAS 18001:2007.
AMGEN receives certification under ISO 50001:2011 (Energy Management System)

2014-15:

Successful commissioning of the 1200 MW DGEN Power Project at Dahej SEZ, District Bharuch, Gujarat.
Torrent Power develops and commissions the 51 MW Solar Photovoltaic (PV) Power Plant at the Charanka Solar Park in Gujarat.
DGEN receives certifications under ISO 9001:2008, ISO 14001:2004, BS OHSAS 18001:2007, ISO 50001:2011 and ISO 55001:2014.

2015-16:

Torrent Energy Limited and Torrent Cables Limited amalgamate with Torrent Power Limited with effective date of 1st October, 2015 and appointed date of 1st April, 2014 pursuant to the order of the High Court of Gujarat sanctioning the Composite Scheme of Amalgamation.
Torrent Power launches first-of-its-kind user-friendly Customer Self Service mobile application ‘Torrent Power Connect’ and web portal ‘connect.torrentpower.com’, offering highly personalized and real time services in the Company’s License Areas of Ahmedabad, Gandhinagar and Surat as well as in the Franchisee areas of Agra & Bhiwandi has been launched.
The Company receives “Gujarat Ratna Award” for demonstrating excellence in the power sector.
Torrent Power books regasification and storage capacity with Petronet LNG Limited up to 1 MMTPA for 20 years starting from April, 2017.
Successful commissioning of the 81 MW GENSU Solar Power Project adjacent to SUGEN Plant in a cost effective manner.
Awarding EPC contract to Suzlon Energy Limited for implementing 201.6 MW Wind Power Project in Kutch and Bhavnagar districts in Gujarat.
Awarding EPC contract to Wind World India Ltd. for implementing 136.8 MW Wind Power Project in Rajkot and Surendranagar districts in Gujarat.
DGEN Plant receives five star rating from British Safety Council on Five Star Occupational Health and Safety System Audit.
Cables Unit receives certification under ISO 14001: 2004 and BS OHSAS 18001:2007.

2017-18

New “Plug points”, the digital customer service centres were launched in Ahmedabad & Gandhinagar.
Over 125 new collection centres have been launched at various geographies across the distribution areas for greater convenience to customers.
The Company has acquired 100% equity share capital of two Companies namely; Jodhpur Wind Farms Private Limited and Latur Renewables Private Limited.

2019-20

Launched following infrastructure projects at Surat Distribution: Document storage building at Puna sub-station Premises to facilitate state of the art storage facilities for all customer related documents and other imporatant documents of various departments.
Power Supply Centers at B and E Station Premises and Customer Service Buidling at B Station Premises will have modern architecture, all latest facilities for the employees, visitors and customers, energy efficient systems and fire detection and prevention systems.
The Company has acquired entire paid up share capital of TCL Cables Private Limited, the step down subsidiary and the same has become direct Wholly-owned Subsidiary (WOS) of the Company