Tata Group stock primarily involved in the business of generation, transmission, and distribution of electricity and many more jumped upto 5 percent in the day’s trade following the MoU with the Bank of India to finance Rooftop Solar and EV Infrastructure.
Price Action
With a market capitalization of Rs. 140,131 Crores, the shares of Tata Power Limited were trading at Rs. 438.60 per equity share, up 4 percent from its previous day’s close price of Rs. 422.40.
What Happened
Tata Power Renewable Energy Limited’s wholly-owned subsidiary Tata Power Solar Systems Limited has announced a strategic partnership with Bank of India (BOI), to facilitate easy financing for rooftop solar installations and the establishment of electric vehicle (EV) charging stations
This collaboration supports the Government’s initiatives to promote faster adoption of rooftop solar installations, targeting a wide spectrum of customers, including residential users under the PM Surya Ghar Yojana, housing societies, and Micro, Small, and Medium Enterprises (MSMEs)
Tata Power Solar Systems Limited stands at the forefront of the renewable energy landscape. With a solar rooftop portfolio of over 2 GW, it is making significant strides across various states and cities.
The comprehensive solutions cover residential, commercial & industrial, MSMEs, large enterprises, group captives, and other customized offerings, showcasing a commitment to diverse energy needs.
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About the Company
Tata Power Company which is a part of the famous Indian conglomerate the Tata Group, is India’s largest vertically integrated power company, primarily involved in the business of generation, transmission, distribution of electricity, manufacturing solar roofs, developing EV charging stations, and many more.
Tata Power Limited offers a comprehensive range of green energy solutions from Rooftop Solar, Home Automation, and Smart Metering to EV Charging, to promote the adoption of sustainable lifestyles. It also provides services such as effluent treatment plants, statutory NOC approvals, and many more to ensure smooth business operations.
It also offers an end-to-end solution for charging infrastructure development, ensuring the best charging experience, emphasizing lean, customized, and cost-effective design solutions, along with timely execution and comprehensive operation and maintenance (O&M) services for its clients.
Financials and Ratios
Its Revenue from operations grew by 27.24 percent from Rs. 12,453 Crores in Q4FY23 to Rs. 15,846 Crores in Q4FY24, accompanied by profits of Rs. 938.81 Crores to Rs. 1,045.58 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 11.3 percent, and a Return on capital employed (ROCE) of 11.1 percent. It has reported a debt-to-equity ratio of 1.66.
Written by: Bharath K.S
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