The shares of this electricity generation company jumped around 2 percent in Monday’s trading session after they signed a contract to supply 152 MWp DCR Solar PV Modules for NTPC Limited (NTPC’s) in Rajasthan. On a YTD basis, the shares have delivered more than 50 percent returns to their shareholders
With a market capitalisation of Rs.1,07,619 crores, the shares of Tata Power Company Ltd started Monday’s trading session on a higher note at Rs. 339 compared to its previous close of Rs. 333.20. The shares hit a high of Rs. 340.30, gaining around 2 percent and currently the shares are trading at Rs. 336 apiece.
Such a positive movement in the share price was observed after the company in an exchange filing mentioned that their step-down subsidiary Tata Power Solar Systems Limited (TPSSL), a wholly owned subsidiary of Tata Power Renewable Energy Limited (TPREL), had signed a contract to supply 152 MWp DCR Solar PV Modules for NTPC Limited (NTPC’s) Nokh Solar PV Project in Rajasthan which is worth Rs. 418 crores.
NTPC is developing 3×245 MW (735 MW) Nokh Solar Park at Pokaran, Rajasthan. The entire project will utilise DCR category Bi-Facial Mono-PERC modules.
Furthermore, the company mentioned that the solar panels, including the solar cells and modules, of these DCR Solar PV modules, will be manufactured in Bengaluru and will supply 152 MWp DCR Solar PV Modules for this project.
Looking at the company’s financial statements, the revenue increased marginally by around 3 percent from Rs. 15,213 crores in Q1 FY24 to Rs. 15,738 during Q2 FY24. On the other hand, the net profit declined by 6 percent from Rs. 1,141 crores to Rs. 1,017 during the same timeframe.
The company has achieved an order book of 4,391 MW which amounts to Rs. 18,700 crores and has planned to achieve an order book of Rs. 20,000 crores by FY 30. In addtion, the company aims to deliver good returns in the renewable sector and plans to focus on hybrid projects and 24/7 renewable power. The company is expected to invest a CAPEX of Rs. 11,000 crores for the full year.
Headquartered in Mumbai, Tata Power Company Ltd is a part of Tata Group which is engaged in electric utility and electricity generation. The company has a diversified portfolio across the entire power value chain from renewable and conventional energy generation to transmission and distribution, storage solutions, and solar cell manufacturing.
Written By Vaibhav Patil
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