Tata Power Company Ltd
Tata Power Company Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #8 of 24 in Power
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The short version
Tata Power plans to add around 4 to 5 GW of renewable capacity over the next two years, focusing on solar, wind, and hybrid projects. Tata Power reported a 14% PAT growth in Q2 FY26 despite Mundra's operational challenges, indicating resilience in core businesses.
From Tata Power Company Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Tata Power plans to add around 4 to 5 GW of renewable capacity over the next two years, focusing on solar, wind, and hybrid projects.
- For FY26, they expect a total renewable capacity addition of approximately 1.5 GW (205 MW in H1 and 1.3 GW in H2).
- Rooftop solar installations are a major growth engine, with around 650 MW installed so far and a target of about 1.4 GW by year-end.
- The company aims for a runway of 2 to 2.5 GW of annual renewable capacity additions beyond FY26.
- Third-party EPC contributions will decline as Tata Power focuses more on internal projects.
2 more points from Tata Power Company Ltd's call on revenue
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Profitability & Margins
See what Tata Power Company Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Tata Power plans to spend Rs. 25,000 crores CAPEX in FY26, with Rs. 7,300 crores already incurred in H1, on track to meet full-year target.
- Around 50-60% of the balance CAPEX will go into renewable energy, with the rest spread across transmission and thermal businesses.
- Investing in a 10-gigawatt ingot and wafer manufacturing plant; discussions underway with state governments and Government of India PLI scheme to finalize costs and subsidies.
- Ongoing large hydro projects in Bhutan with total equity investment around Rs. 2,400 crores spread over multiple phases.
- Planning to add 4 to 5 gigawatts renewable capacity over next two years, targeting 2 to 2.5 gigawatts annually from FY27 onwards.
2 more points from Tata Power Company Ltd's call on capex
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Top-ranked in Power
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
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Order Book & Pipeline
- The third-party PC (Project Contract) order book has reduced from around Rs. 27 billion to Rs. 19 billion, reflecting a focus shift towards Tata Power's own projects.
- Execution pipelines remain active with significant work planned in Q3 and Q4, balancing quarterly orderbook variations.
- Capacity installation is being done across EPC (Engineering, Procurement, and Construction), rooftop solar, and Genco projects, cumulatively representing a significant volume.
- There is an ongoing shift with rooftop solar installations increasing while third-party EPC contributions are expected to reduce.
2 more points from Tata Power Company Ltd's call on order book
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Tata Power Company Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹14.9K Cr, net profit ₹1.4K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Tata Power Company Ltd's management said in earlier quarters
Others in Power this season
- Reliance Infrastructure Ltd (Q2 FY26)
Revenue: ₹12,345 Crore . Key investor presentation takeaways from Reliance Infrastructure Ltd's Q2 FY26 investor presentation — and how it ranks against sector
- Reliance Power (Q2 FY26)
Revenue for H1 FY26: ₹8,257 crore . Key investor presentation takeaways from Reliance Power Ltd's Q2 FY26 investor presentation — and how it ranks against secto
- GMR Urban (Q2 FY26)
Consolidated Total Income: INR 19.2bn, up 28% YoY and 9% QoQ (Page 10). Key investor presentation takeaways from GMR Power & Urban Infra Ltd's Q2 FY26 investor
- Adani Energy Solutions Ltd (Q2 FY26)
Distribution business capex around INR 1,500-1,600 crores, translating to INR 250-275 crores EBITDA. Key concall takeaways from Adani Energy Solutions Ltd's Q2…
Potential multibaggers · Q2 FY27
Potential multibaggers in Power
on management's own guidance
- Strong growth2
- Strong growth1
- Strong growth3
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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.
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Frequently Asked Questions
What were Tata Power Company Ltd Q2 FY26 results?
Tata Power plans to add around 4 to 5 GW of renewable capacity over the next two years, focusing on solar, wind, and hybrid projects. Tata Power reported a 14% PAT growth in Q2 FY26 despite Mundra's operational challenges, indicating resilience in core businesses.
What is Tata Power Company Ltd share price analysis?
Tata Power Company Ltd currently shows a neutral. The stock trades at a P/E of 28.9 with a market cap of ₹113,002 Cr. Investors should review the full earnings analysis for detailed insights.
Is Tata Power Company Ltd planning capital expenditure?
Tata Power plans to spend Rs.
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.