Torrent Power share price
NSE: TORNTPOWERBSE: 532779PowerMid Cap
Share price at the NSE close on 28 Oct 2026. Previous close ₹1,179.70.
28 Oct: open ₹1,173.00, high ₹1,178.40, low ₹1,157.80
- Market capMarket capitalisation. Share price times the number of shares: what the whole company is worth at the day's price. The rank is by average market value over the six months to Jun 2026, among listed companies. Market capitalisation: how it is worked out
- ₹58,453 Cr143rd largest listed
- P/EPrice to earnings, trailing. Market cap divided by the profit of the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, after the share of the other owners of its subsidiaries: what investors pay for each rupee of a year's profit. Price to earnings, trailing: how it is worked out
- 25.15
- P/BPrice to book. Market cap divided by the net worth that belongs to the company's own shareholders, its assets less everything it owes and less the other owners' share of its subsidiaries, on its latest balance sheet. Price to book: how it is worked out
- 3.06
- Dividend yieldDividend yield. Dividends paid per share in the twelve months to the day, as a percentage of the day's share price.
- 1.72%
- ROEReturn on equity. Profit over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly) that belongs to the company's own shareholders, as a percentage of their net worth, the money they have in the business. Net worth is the average of the latest balance sheet and the one a year before it.
- 12.7%
- ROCEReturn on capital employed. Operating profit after depreciation (revenue less operating expenses and depreciation, without other income and one-off items) as a percentage of all the money the business runs on: the whole group's net worth, the other owners of its subsidiaries included, plus borrowings. Lease liabilities are not counted: the results filings do not state them. The profit is over the last twelve months (the latest four quarters, or two half years for a company that reports half-yearly); net worth and borrowings are on the latest balance sheet.
- 11.9%
- Debt to equityDebt to equity. Borrowings divided by the whole group's net worth, the other owners of its subsidiaries included: rupees borrowed for each rupee of equity in the business. Lease liabilities are not counted: the results filings do not state them. From the balance sheet at the end of Mar 2026.
- 0.70
- Volume, NSEVolume. Shares traded on the last trading day; delivery is the part buyers kept rather than sold again the same day. Volume in the glossary
- 74,22441.6% delivered
About Torrent Power
Torrent Power Limited is an integrated power utility that generates, transmits and distributes electricity in India.1 Its power plants run on natural gas, coal, solar energy and wind.2 It supplies electricity to households and industries in Ahmedabad, Gandhinagar, Surat, Dahej and Dholera in Gujarat, in Dadra and Nagar Haveli and Daman and Diu, in Bhiwandi and Shil, Mumbra and Kalwa in Maharashtra, and in Agra in Uttar Pradesh.34
It reports its results in segments: generation, transmission and distribution, and renewables.5 In Gujarat and in Dadra and Nagar Haveli and Daman and Diu it holds the distribution licence; in Bhiwandi, Agra and Shil, Mumbra and Kalwa it runs distribution as a franchisee, on behalf of the state company that holds the licence.6 In its licensed areas and at its SUGEN and UNOSUGEN gas plants, regulators set the tariff: allowed costs plus a post-tax return on the money invested, with performance-linked incentives in the licensed areas.67 It also operates transmission lines, some through a subsidiary, that carry power from its gas-based plants.8
It was incorporated in 2004.9 On 25 Jun 2026 it completed the purchase of Nabha Power Limited, which runs a 1,400 megawatt (MW) coal-based plant in Punjab, from L&T Power Development Limited for ₹3,632.35 crore.1011 Its holding company and promoter, Torrent Investments Limited, holds 51.09% of its shares.1213 It is part of the Torrent Group, which also has pharmaceutical and city gas distribution businesses.14
Torrent Power key points
Results
- In the quarter to Jun 2026, consolidated revenue from operations was ₹8,124 crore, up 3% from ₹7,906 crore a year earlier, and EBITDA (earnings before interest, tax, depreciation and amortisation) ₹1,618 crore against ₹1,588 crore. Profit after tax was ₹662 crore against ₹742 crore.15
- In the year to Mar 2026, consolidated revenue from operations was ₹28,966 crore against ₹29,165 crore a year earlier, EBITDA ₹5,864 crore and profit before tax ₹3,317 crore.1617
Business segments
- Revenue by segment, ₹33,591 crore in all, including ₹4,625 crore of sales between segments18
Item year to Mar 2026 Transmission and distribution ₹24,764 crore (74%) Generation ₹7,585 crore (22%) Renewables ₹1,241 crore (4%) - EBITDA by segment, ₹6,125 crore in all, before ₹261 crore of unallocated items1920
Item year to Mar 2026 Transmission and distribution ₹3,793 crore (62%) Generation ₹1,320 crore (22%) Renewables ₹1,012 crore (16%)
Plants and capacity
- Operating capacity by fuel at the end of Jun 2026, 6,564 MWp in all (megawatt peak, the rated output of solar panels)21
Item quarter to Jun 2026 Gas 2,730 MW (41%) Coal 1,762 MW (27%) Solar 1,092 MWp (17%) Wind 980 MW (15%) - Of its gas-based capacity, 1,163 MW was tied up under long-term power purchase agreements (contracts to sell power at agreed tariffs) at the end of March 2026; the other 1,567 MW depended on short-term contracts or the open market.22
Power distribution
- In the year to Mar 2026 it distributed about 31 billion units (kilowatt-hours) of electricity to about 4.3 million consumers, 2.96 million in licensed areas and 1.33 million in franchised areas.2324
- Distribution loss (electricity lost between purchase and sale) in its licensed areas was 2.33% in the year to Mar 2026. Its Ahmedabad and Surat circles ranked 1st of 65 distribution companies in the Ministry of Power's 14th Integrated Ratings and Rankings, January 2026.2526
- In the year to Mar 2026, aggregate technical and commercial losses (power lost or not paid for) were about 9.1% in Bhiwandi, 5.4% in Agra and 23.1% in Shil, Mumbra and Kalwa, against 58%, 58.77% and 48% at takeover.27
- As of its annual report of 10 Jul 2026, renewal of the Bhiwandi franchise, valid until January 2027 and extendable by mutual agreement, was under discussion with MSEDCL, Maharashtra's state distribution company.28
Expansion and capital spending
- Torrent Power's capital spending was ₹8,681 crore in the year to Mar 2026, about ₹6,010 crore of it on renewable projects, and about ₹2,300 crore in the quarter to Jun 2026.2930
- On its earnings call of 3 Aug 2026, the company said it expects to spend about ₹10,000 crore on renewable projects in the year to Mar 2027; ₹8,800 crore of their ₹29,600 crore cost had been spent by 30 Jun 2026.31
- It is building a 1,600 MW coal-based plant at Anuppur, Madhya Pradesh, for about ₹23,000 crore, with its whole output contracted to the state for 25 years at ₹5.829 per kilowatt-hour.32
- It is building a 3,000 MW pumped storage project (which stores power by pumping water uphill) in Raigad, Maharashtra, for about ₹14,000 crore; 2,000 MW is contracted to MSEDCL for 40 years at ₹1,680 crore a year, with a scheduled start of October 2028.3334
What the company expects
- On its earnings call of 3 Aug 2026, the company said it expects about 1 to 1.2 gigawatts (GW) of the 4.6 GW of renewable projects under construction to start operating in the year to Mar 2027, and 1.4 to 1.6 GW the next year.35
- In its presentation of 3 Aug 2026, the company set a target to increase its renewable portfolio to about 6.25 GWp (gigawatt peak); its annual report for the year to Mar 2026 says it is working towards 10 GWp by 2030.3637
- The company stated in its annual report for the year to Mar 2026 that it expects its borrowings, including undrawn sanctioned limits, to rise from about ₹17,250 crore at the end of March 2026 to about ₹24,000 crore in the near term.38
Recent events
- On 23 Oct 2026, India Ratings and Research and CRISIL Ratings each rated ₹2,500 crore of proposed debentures (bonds) AA+/Stable, one credit grade below the top, AAA, and reaffirmed the same rating on existing debt.39
- On 8 Sep 2026, its subsidiary Torrent Green Energy said it had commissioned 322 MWp of solar projects at 50 locations in Nashik district, Maharashtra, selling the power to MSEDCL under a 25-year agreement.40
Last updated
All 42 sources, each with its page
- 1. Annual report, 10 Jul 2026, page 197
- 2. Annual report, 10 Jul 2026, page 29
- 3. Exchange filing, 8 Sep 2026, page 3
- 4. Annual report, 10 Jul 2026, page 12
- 5. Annual report, 10 Jul 2026, page 535
- 6. Annual report, 10 Jul 2026, page 201
- 7. Annual report, 10 Jul 2026, page 198
- 8. Annual report, 10 Jul 2026, page 42
- 9. Annual report, 10 Jul 2026, page 591
- 10. Exchange filing, 25 Jun 2026, page 1
- 11. Annual report, 10 Jul 2026, page 31
- 12. Exchange filing, 30 Mar 2026, page 2
- 13. Investor presentation, 3 Aug 2026, page 8
- 14. Investor presentation, 3 Aug 2026, page 25
- 15. Investor presentation, 3 Aug 2026, page 18
- 16. Investor presentation, 3 Aug 2026, page 22
- 17. Annual report, 10 Jul 2026, page 16
- 18. Investor presentation, 3 Aug 2026, page 10
- 19. Investor presentation, 3 Aug 2026, page 10
- 20. Investor presentation, 3 Aug 2026, page 10
- 21. Investor presentation, 3 Aug 2026, page 10
- 22. Annual report, 10 Jul 2026, page 207
- 23. Annual report, 10 Jul 2026, page 24
- 24. Annual report, 10 Jul 2026, page 112
- 25. Annual report, 10 Jul 2026, page 38
- 26. Annual report, 10 Jul 2026, page 16
- 27. Investor presentation, 3 Aug 2026, page 14
- 28. Annual report, 10 Jul 2026, page 40
- 29. Annual report, 10 Jul 2026, page 78
- 30. Earnings call, 3 Aug 2026, page 11
- 31. Earnings call, 3 Aug 2026, page 4
- 32. Annual report, 10 Jul 2026, page 198
- 33. Investor presentation, 3 Aug 2026, page 16
- 34. Annual report, 10 Jul 2026, page 36
- 35. Earnings call, 3 Aug 2026, page 3
- 36. Investor presentation, 3 Aug 2026, page 15
- 37. Annual report, 10 Jul 2026, page 210
- 38. Annual report, 10 Jul 2026, page 161
- 39. Exchange filing, 23 Oct 2026, page 1
- 40. Exchange filing, 8 Sep 2026, page 2
- 41. Exchange filing, 28 Mar 2026, page 1
- 42. Exchange filing, 28 Mar 2026, page 2
Results
Consolidated; ₹ crore.Torrent Power quarterly results
- Revenue growth, 12 monthsRevenue growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- +4.1%
- Net profit growth, 12 monthsNet profit growth, 12 months. The last twelve months against the twelve before them. Left empty where the earlier figure was nought or a loss: growth out of a loss has no percentage.
- −15.4%
Quarter to Jun 2026, against the quarter before
- RevenueRevenue. The pill is the change in revenue against the quarter before: this period's figure divided by that one's, less one, in per cent.
- ₹8,124 Crup 26.82%
- Net profitNet profit. The pill is the change in net profit against the quarter before: this period's figure divided by that one's, less one, in per cent. Net profit in the glossary
- ₹662 Crup 99.66%
- Net marginNet margin. Net profit as a percentage of revenue: how much of each rupee of sales is left after every cost, interest and tax. Net margin in the glossary
- 8.1%
Revenue by quarter
Net profit by quarter, a loss in red
| ₹ crore | Sep 2024 | Dec 2024 | Mar 2025 | Jun 2025 | Sep 2025 | Dec 2025 | Mar 2026 | Jun 2026 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 7,176 | 6,499 | 6,456 | 7,906 | 7,876 | 6,778 | 6,406 | 8,124 |
| Net profit | 496 | 489 | 1,077 | 742 | 742 | 655 | 331 | 662 |
| Net margin | 6.9% | 7.5% | 16.7% | 9.4% | 9.4% | 9.7% | 5.2% | 8.1% |
Year to Mar 2026, against the year before
- RevenueRevenue. The pill is the change in revenue against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹28,966 Crdown 0.68%
- Net profitNet profit. The pill is the change in net profit against the year before: this period's figure divided by that one's, less one, in per cent.
- ₹2,469 Crdown 19.27%
- Net margin
- 8.5%
Revenue by year
Net profit by year, a loss in red
| ₹ crore | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | Mar 2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 10,054 | 11,512 | 13,151 | 13,641 | 12,173 | 14,258 | 25,694 | 27,183 | 29,165 | 28,966 |
| Net profit | 430 | 952 | 904 | 1,179 | 1,296 | 459 | 2,165 | 1,896 | 3,059 | 2,469 |
| Net margin | 4.3% | 8.3% | 6.9% | 8.6% | 10.6% | 3.2% | 8.4% | 7.0% | 10.5% | 8.5% |
Business segments
Share of revenue, year to Mar 2026, consolidated.Segment revenue and profit
- Transmission and DistributionTransmission and Distribution, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹24,764 Crdown 1.64%73.7%
- GenerationGeneration, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹7,585 Crdown 7.28%22.6%
- RenewablesRenewables, share of revenue. The segment's revenue as a percentage of the revenue of all the company's reported business segments together, leaving out eliminations between them and unallocated items.₹1,241 Crup 16.40%3.7%
Valuation
Today, against the company's own history.Torrent Power PE ratio and valuation
At or below today's level on 79% of 2,478 trading days over the last 10 years.
At or below today's level on 61% of 1,981 trading days since Oct 2018.
At or below today's level on 47% of 2,411 trading days over the last 10 years.
Where the return came from
Yearly rates to Mar 2026, per-share figures restated for splits and bonuses.
| Over | Return a year | Earnings growth | Change in P/E | Dividend yield |
|---|---|---|---|---|
| 1 year | −10.6% | −19.1% | +8.6% | 1.5% |
| 3 years | +38.1% | +2.9% | +33.0% | 1.3% |
| 5 years | +27.4% | +12.3% | +11.5% | 2.2% |
Mutual fund holdings
141 funds disclosed a holding for Sep 2026. What they did in Sep 2026, against each fund's month before. 74 of the 85 funds that added or cut are index funds, ETFs or arbitrage funds: an index fund or ETF holds what its index holds, and an arbitrage fund holds the share against a sale of its future. 1 more fund filed its first portfolio on record, holding it.All 141 funds holding Torrent Power
- Bought for the first timeBought for the first time. Funds that held it at the month's end and had not held it in any month on record before.
- 1
- AddedAdded. Funds that held more shares than at the end of the month before.
- 42
- CutCut. Funds that held fewer shares than at the end of the month before.
- 43
- Held unchangedHeld unchanged. Funds that held the same number of shares as at the end of the month before.
- 54
- Sold outSold out. Funds that held it at the end of the month before and hold none at this month's end. Sold out in the glossary
- 2
| Fund | |||
|---|---|---|---|
| 89,82,410 | 2.48% | ₹1,119.1 Cr | |
| 70,00,000 | 1.74% | ₹872.1 Cr | |
| 65,00,000 | 2.00% | ₹809.8 Cr | |
| 64,96,007 | 3.48% | ₹809.3 Cr | |
| 56,10,813 | 2.33% | ₹699.1 Cr | |
| 40,90,223 | 1.26% | ₹509.6 Cr | |
| 40,00,000 | 2.12% | ₹498.4 Cr | |
| 35,08,679 | 0.87% | ₹437.1 Cr | |
| 31,67,361 | 1.18% | ₹394.6 Cr | |
| 28,51,387 | 1.45% | ₹355.3 Cr |
Torrent Power competitors and peers
Power, 45 listed companies, priced on 28 Oct 2026. The table lists the 8 companies closest to Torrent Power in market cap.Power stocks
Where the company sits among the companies nearest its size
| Company | ||||||||
|---|---|---|---|---|---|---|---|---|
| 1,07,044 | 27.71 | 2.71 | −4.2% | −4.8% | 10.3% | 6.8% | 0.75% | |
| 88,557 | 38.19 | 2.41 | +26.4% | +14.6% | 7.0% | 6.0% | 0.41% | |
| 74,775 | 19.70 | 1.80 | +12.0% | +24.1% | 9.4% | 3.6% | 2.16% | |
| 70,124 | 115.53 | 3.70 | – | – | 3.2% | 3.4% | 0.00% | |
| 31,608 | – | 1.47 | +16.8% | – | – | 6.8% | 1.69% | |
| 29,063 | 38.40 | 3.48 | +53.7% | – | 11.5% | 5.3% | 0.05% | |
| 20,018 | 31.32 | 1.41 | +60.5% | −7.4% | 4.5% | 5.1% | 2.94% | |
| 16,385 | 10.56 | 1.31 | +8.7% | +12.6% | 12.6% | 6.6% | 4.85% |
Dividends
Per share, by the year it was paid for, and the latest payments.Torrent Power dividend history
Dividend per share, ₹, restated for later splits and bonuses
Dividend per share. The dividends declared for the year, each restated to today's share count by the splits and bonuses after its own ex-date, added up. Dividend per share in the glossary| Ex-date | Type | Per share |
|---|---|---|
| 19 Jun 2026 | FinalFinal dividend. Called final by its date: the company did not say which kind it was, and it went ex within six months after the company's year end, the time in which the annual general meeting that declares the final dividend must be held. Final dividend in the glossary | ₹5.00 |
| 16 Feb 2026 | Interim | ₹15.00 |
| 6 Jun 2025 | Final | ₹5.00 |
| 12 Feb 2025 | Interim | ₹14.00 |
| 14 Jun 2024 | Final | ₹4.00 |
| 16 Feb 2024 | Interim | ₹12.00 |
Latest announcements
Routine notices left out.Torrent Power announcements
Oct 2026
23 Oct · Rating
Sep 2026
16 Sep · Analysts
14 Sep · Analysts
7 Sep · Analysts
Torrent Power share price by year
Each calendar year to 2025.Torrent Power share price history
| Year | Close at year end | Change | Highest close | Lowest close |
|---|---|---|---|---|
| 2025 | 1,306.70 | −12.1% | 1,623.60 | 1,200.00 |
| 2024 | 1,485.95 | +59.1% | 1,973.65 | 937.70 |
| 2023 | 933.85 | +89.7% | 1,003.85 | 435.25 |
| 2022 | 492.35 | −11.1% | 587.50 | 419.80 |
| 2021 | 553.55 | +74.4% | 598.60 | 305.10 |
| 2020 | 317.40 | +11.8% | 359.95 | 249.50 |
| 2019 | 284.00 | +8.5% | 311.00 | 232.70 |
| 2018 | 261.80 | −7.6% | 305.60 | 214.00 |
| 2017 | 283.25 | +58.2% | 286.40 | 174.20 |
| 2016 | 179.00 | +3.1% | 247.95 | 162.15 |
Recent sessions
The 9 trading days to 27 Oct 2026, as traded on NSE; the latest is at the top of the page.
| Date | Open | High | Low | Close | Average price | Volume | Delivery |
|---|---|---|---|---|---|---|---|
| 27 Oct 2026 | 1,160.30 | 1,184.80 | 1,158.10 | 1,179.70 | 1,174.52 | 1,36,183 | 56.5% |
| 26 Oct 2026 | 1,168.00 | 1,189.00 | 1,147.50 | 1,157.60 | 1,164.29 | 1,73,293 | 36.1% |
| 23 Oct 2026 | 1,195.00 | 1,195.00 | 1,150.00 | 1,169.00 | 1,161.74 | 2,44,368 | 47.2% |
| 22 Oct 2026 | 1,175.00 | 1,215.80 | 1,166.00 | 1,204.00 | 1,187.84 | 2,20,573 | 44.4% |
| 21 Oct 2026 | 1,206.00 | 1,209.50 | 1,173.10 | 1,181.90 | 1,184.53 | 1,98,504 | 59.6% |
| 19 Oct 2026 | 1,225.00 | 1,227.00 | 1,202.00 | 1,210.00 | 1,210.46 | 1,18,498 | 54.0% |
| 16 Oct 2026 | 1,239.00 | 1,240.00 | 1,220.00 | 1,226.30 | 1,229.18 | 1,42,333 | 44.6% |
| 15 Oct 2026 | 1,240.30 | 1,260.00 | 1,225.90 | 1,238.60 | 1,244.04 | 1,86,145 | 39.0% |
| 14 Oct 2026 | 1,190.10 | 1,249.30 | 1,190.10 | 1,240.30 | 1,239.22 | 6,52,080 | 46.1% |
Company details
- NSE symbol
- TORNTPOWER
- BSE code
- 532779
- ISIN
- INE813H01021
- Industry
- Power
- Website
- www.torrentpower.com
- CIN
- L31200GJ2004PLC044068
- Corporate identity number, the registrar of companies' code for it
- Incorporated
- 2004
- Registered office
- 600, Samanvay, Tapovan, Ambawadi, Ahmedabad 380015, Gujarat
- Share registrar
- MUFG Intime India Pvt. Ltd
- Keeps the register of shareholders and handles transfers and dividend payments