Torrent Power reports good financial results in Q4 of FY26
Ahmedabad, May 12, 2026: Torrent Power Limited (the “Company”) today announced financial results for the quarter and year ended March 31, 2026.
Adjusting for one-time, non-cash reversal of deferred tax liabilities of ₹ 637 Crs in FY 2024-25, TCI for the year improved by ₹ 92 Crs driven mainly by following factors:
Improved operational performance of licensed and franchised distribution businesses;
Improved operational performance from Renewable Energy segment though partly offset by higher interest and depreciation cost as the growth continues with new projects under implementation;
Contribution from gas-based generation business, though remaining constrained due to dynamic power demand scenario and gas market volatility;
Gain on sale of Non-Current Investments in FY 2024-25.
The Company enjoys a strong balance sheet position with one of the best financial ratios amongst private players in the power sector with Net Debt: Equity ratio of 0.67 and Net Debt: EBITDA ratio of 2.06 as on March 31, 2026.
Commenting on the performance, Mr. Jinal Mehta, Vice Chairman and Managing Director, Torrent Power, said:
“FY26 marks a milestone in our journey, as we prepare ourselves for the next phase of sustainable growth. Guided by our long-term vision, we committed significant capital to accelerate growth of our renewables, thermal and storage solutions businesses. In the thermal business, we committed over ₹30,000 crores towards enhancing our thermal capacity by 3 GW; which includes initiating construction of a new 1,600 MW power project in MP and the strategic acquisition of 1,400 MW Nabha Power which further reinforces our position in the thermal generation segment.”
We proactively strengthened our gas-based portfolio by enhancing our fuel security through long-term LNG partnerships with leading global players like BP and JERA, while keeping some capacities open to capture market opportunities.
Our Distribution business continues to reflect the resilience of our operating model and our commitment to excellence. In our licensee businesses, we have achieved distribution losses of 2.33% – the lowest in the country and have been ranked number 1 in the national rankings amid 65 DISCOMS, which further reaffirms our focus on reliability, efficiency, and customer trust.
Looking ahead, we are building a diversified energy platform, with a strong presence in renewables, thermal, storage solutions and distribution. India’s power sector is entering a significantly more demanding growth phase and we are well positioned to support India’s energy transition while creating enduring value. Despite near-term challenges posed by the Middle East turmoil, India’s power sector is anchored by resilient demand with strong future growth potential. Backed by financial strength and strategic direction, we remain confident in our ability to deliver sustainable growth and long-term value for all our stakeholders.”
The Board of Directors, at its meeting held today, has recommended final dividend of ₹ 5.00 per equity share. The total dividend for FY 26 stands as ₹ 20.00 per equity share, comprising of interim dividend of ₹ 15.00 per equity share and final divided of ₹ 5.00 per equity share.
About Torrent Power:
Torrent Power, the ₹ 28,966 Crs integrated power utility of approx. ₹ 49,000 Crs Torrent Group, is one of the largest companies in the country’s power sector with presence across the entire power value chain – generation, transmission and distribution.
Generation:
The Company has an aggregate installed generation capacity of 5,094 MWp comprising of 2,730 MW of gas-based capacity, 2,002 MWp of renewable capacity and 362 MW of coal-based capacity. Further, Renewable projects of ~3.96 GWp, Pumped Storage Capacity of 3 GW and coal based power capacity of 1.6 GW are under development. The Company is also in the process of acquiring 1.40 GW coal based Nabha Power Project. Total Generation and Pumped Storage capacity, including projects under development & acquisition, is ~12.05 GWp and 3 GW respectively, positioning Torrent Power as a key player in India’s energy transition.
Distribution:
The Company distributes nearly 31 billion units to around 4.29 million customers in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD), Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.
Torrent Power is widely considered to be the leading power distributor in India and in its licensed areas in Gujarat has the distinction of having the lowest distribution losses and best reliability indices in the country, reinforcing customer trust and satisfaction.
