Tata Power Co.
Tata Power Company Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #8 of 23 in Power
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The short version
Odisha distribution business expected to peak in performance in FY27 with significant efficiency improvements realized. Tata Power posted a strong FY'26 with PAT over INR5,000 crores and 11% EBITDA growth to INR16,090 crores, indicating a strong financial base for growth.
From Tata Power Co.'s Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- Odisha distribution business expected to peak in performance in FY27 with significant efficiency improvements realized.
- Renewable energy additions planned with ~2.5 GW of capacity additions per year in FY27 and FY28, including hybrid (solar + wind + storage) projects.
- Rooftop solar business targeted to grow by 50-60% in FY27 with a market share goal of 20% over next 3 years.
- Transmission and distribution segments expected to continue growth with large planned capital expenditure and stable regulated equity growth.
- Manufacturing plant expansions (cell, module, wafer, and ingot) will support captive use in utility-scale and rooftop solar projects.
2 more points from Tata Power Co.'s call on revenue
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Profitability & Margins
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Capital Expenditure Plans
- FY27 capex guidance is around INR 25,000 crores, expected to be similar in FY28.
- Capex includes 2.5 GW addition of solar and wind renewables (~INR 15,000 crores).
- Additional capex for pumped hydro, pure hydro projects, and transmission.
- Mumbai Transmission adds approx. INR 1,000 crores of capex annually.
- Capex is carefully planned considering permanent GNA and transmission system readiness to avoid delays.
- New 10 GW wafer and ingot plant to start in two phases to support cell and module manufacturing by June 2028.
- Focus on hybrid renewable projects integrated with storage (pumped hydro) alongside utility and C&I customer projects.
2 more points from Tata Power Co.'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
See what Tata Power Co. said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Tata Power has a renewable energy (RE) pipeline of about 5 GW as of May 2026.
- There is a 5 GW renewable capacity target, which includes 1 GW of plain wind and solar and 4 GW of hybrid and FDRE projects.
- The contracted capacity for hybrid and FDRE projects is currently around 1,200 MW; more capacity details pending PPAs or approvals.
- The company plans to add 2.5 GW of IPP renewable projects annually, primarily sourced internally.
- About 2.5 GW of projects were implemented last year, mostly third-party; this year, implementation is mostly in-house.
- Transmission projects faced delays due to right-of-way and transmission system issues, affecting the phasing of capex.
2 more points from Tata Power Co.'s call on order book
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Tata Power Co. — 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 Co.'s management said in earlier quarters
Others in Power this season
- RattanIndia Pow. (Q4 FY26)
798.55 Cr, down from Rs. Key concall takeaways from RattanIndia Power Ltd's Q4 FY26 earnings call — and how it ranks against sector peers.
- CESC (Q4 FY26)
Consolidated Revenue Q4 FY26:** ₹4,096 Cr, up 4% YoY from ₹3,877 Cr in Q4 FY25. Key concall takeaways from CESC Ltd's Q4 FY26 earnings call — and how it ranks…
- Sustainable Ener (Q4 FY26)
The presentation reports net generation for FY26 as 2,439 GWh with a portfolio plant load factor (PLF) of 24.7%. Key concall takeaways from Sustainable Energy…
- GMR Urban (Q4 FY26)
Q4FY26 Total Income: INR 20.7bn, up 11% YoY and 3% QoQ (Page 9) . Key concall takeaways from GMR Power & Urban Infra Ltd's Q4 FY26 earnings call — and how it…
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 Co. Q4 FY26 results?
Odisha distribution business expected to peak in performance in FY27 with significant efficiency improvements realized. Tata Power posted a strong FY'26 with PAT over INR5,000 crores and 11% EBITDA growth to INR16,090 crores, indicating a strong financial base for growth.
What is Tata Power Co. share price analysis?
Tata Power Co. currently shows a neutral. The stock trades at a P/E of 30.6 with a market cap of ₹119,602 Cr. Investors should review the full earnings analysis for detailed insights.
Is Tata Power Co. planning capital expenditure?
FY27 capex guidance is around INR 25,000 crores, expected to be similar in FY28. - Capex includes 2.5 GW addition of solar and wind renewables (~INR 15,000 crores). - Additional capex for pumped hydro, pure hydro projects, and transmission. - Mumbai Transmission adds approx.
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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.