Torrent Power Ltd
Torrent Power Q2 FY26 earnings call: Revenue & Margins
Q2 FY26 earnings call: what management said on revenue, margins and capex.
Guidance rank: #17 of 24 in Power
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The short version
Torrent Power targets renewable capacity addition of 500 to 600 MW for the current year, with 367 MW already commissioned and the balance expected in the second half. Torrent Power reported a strong Q2 FY'26 with PBT up 42% YoY to INR 979 crores (adjusted PBT up 52%).
From Torrent Power Ltd's Q2 FY26 earnings-call transcript · updated 16 Oct 2026.
Revenue & Sales Performance
- Torrent Power targets renewable capacity addition of 500 to 600 MW for the current year, with 367 MW already commissioned and the balance expected in the second half.
- Most upcoming renewable capacity, except newly won projects, is expected to commission over the next 1.5 to 2 years (FY27 and first half FY28).
- The MP Power 1.6 GW coal-based plant has a commissioning timeline of about 66 months (first unit) and 72 months (second unit) from the PPA signing, expected in the next 2 months.
- The company is focused on expediting commissioning timelines for renewable projects.
2 more points from Torrent Power Ltd's call on revenue
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Profitability & Margins
See what Torrent Power Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- Total project cost for upcoming 3 GW coal-based capacity is INR 14,000 crores.
- Renewable CAPEX incurred in H1 FY'26 was INR 2,500 crores; total consolidated H1 FY'26 CAPEX was INR 3,700 crores.
- Ongoing pipeline includes 3.6 GW renewable capacity, 3 GW pump storage, 1.6 GW coal plant, and 2 transmission projects.
- Awarded BTG contract for coal plant to one of two domestic players; boiler contract under discussion.
- FDRE Renewable Generation project of 500 MW comprising 350 MW solar, 150 MW wind, and 100 MW battery announced.
2 more points from Torrent Power 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
See what Torrent Power Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- The pipeline projects as of September 30, 2025, include:
- 3.6 gigawatt renewable capacity
- 3 gigawatt pump storage capacity
- 1.6 gigawatt coal plant
- 2 transmission projects at Khavda and Solapur
- A 1.6-gigawatt coal-based power plant project secured LOA from MP Power Management Company Limited.
- A 500 megawatt FDRE renewable generation project (solar, wind, battery mix) has been awarded from TPLD.
2 more points from Torrent Power Ltd's call on order book
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Torrent Power Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest (Q4 FY26): revenue ₹6.4K Cr, net profit ₹331 Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Torrent Power Ltd's management said in earlier quarters
Others in Power this season
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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…
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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 Torrent Power Ltd Q2 FY26 results?
Torrent Power targets renewable capacity addition of 500 to 600 MW for the current year, with 367 MW already commissioned and the balance expected in the second half. Torrent Power reported a strong Q2 FY'26 with PBT up 42% YoY to INR 979 crores (adjusted PBT up 52%).
What is Torrent Power Ltd share price analysis?
Torrent Power Ltd currently shows a neutral. The stock trades at a P/E of 26.6 with a market cap of ₹61,774 Cr. Investors should review the full earnings analysis for detailed insights.
Is Torrent Power Ltd planning capital expenditure?
Total project cost for upcoming 3 GW coal-based capacity is INR 14,000 crores.
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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.