The shares of the leading power transmission company gained up to 2 percent after the company announced an investment of over Rs 64,000 crore for renewable energy capacity expansion and Green Ammonia production facility.
Torrent Power Ltd has a market capitalization of Rs 85,311.88 crore, the shares were trading at Rs 1,781.90 per share, increasing around 1 percent as compared to the previous closing price of Rs 1,762.85 apiece.
Reason for rise:-
The company shares have seen bullish movement after Torrent Power Ltd submitted two ‘Shapath Patra’ for installing 10 GW of renewable energy projects by 2030 and for setting up a 100,000 KTPA Green Ammonia production facility with an investment of over Rs 64,000 crore.
Moreover, Torrent Power also signed a Memorandum of Understanding (MoU) with the Government of Gujarat for the execution of a 5 GW solar, wind, or solar-wind hybrid project at Dwarka District in the State of Gujarat.
Additionally, This investment is expected to generate direct and indirect employment for around 25,000 people.
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Management Comment:-
Mr. Samir Mehta, Chairman of Torrent Group said, “As one of India’s largest private sector power utilities, Torrent Power stands committed to contributing to the nation’s RE journey. By signing two ‘Shapath Patras’ we have reaffirmed our long-term commitment towards a green and sustainable future. This commitment not only underscores our dedication to advancing green energy solutions but also highlights the fact that our business operations are aligned with national priorities. We thank the Government of India for its futuristic policies and for creating enabling environment to foster the growth of the RE sector.”
Financial performance:-
Analyzing the company’s financial condition, revenue ramped up by 23 percent from Rs 7,328 crore in Q1FY24 to Rs 9,034 crore in Q1FY25, during the same time frame net profit magnified significantly by 87 percent from Rs 532 crore to Rs 996 crore.
Installed capacity:-
The Company has 4.4 GWp of installed generating capacity, including 2.7 GW of gas, 1.3 GWp of renewable, and 362 MW of coal. Additionally, around 3.1 GWp of renewable energy projects are now in development. Total generation capacity, including projects in advanced stages of development, is around 7.5 GWp.
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Company profile:-
Torrent Power Limited is an Indian-based holding company. The corporation has three business segments: generating, transmission and distribution, and renewables. The Generation division produces electricity from thermal sources (gas and coal) and markets Regasified Liquefied Natural Gas.
Written by:- Abhishek Singh
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