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Tata Power Q4FY22 Results

06 May 2022
3 minutes

One of India’s largest integrated power companies, Tata Power, declared its Q4 FY22 result today after market hours. It marked its 10th consecutive quarter of PAT growth.

Tata Power’s consolidated net profit for the year stood at Rs. 632 crore, up 31% Y-o-Y from Rs. 481 crore, mainly riding on higher revenues the company clocked. 

The operating income for Q4FY22 was published at Rs. 12,085 crore, up 16.4% from Rs. 10,379 crore in the last year. On a consolidated basis, revenue increased 28% y-o-y to Rs 42,576 crore in FY22.

Tata Power’s EBITDA for Q4 FY22 stood at Rs.2,253 crore, growing an impressive 35% Y-o-Y. Sequentially, EBITDA grew 22% in Q4 FY22. 

The company also declared an interim dividend of Rs.1.75 per share. 

More on Q4

The company saw healthy growth in major segments like Generation, Renewables, Transmission, and Distribution. According to management, PAT from the Renewables portfolio grew by 60% in Q4FY22 against Q4FY21 due to the addition of 707 MW capacity in FY22. There is also strong execution of both large-scale and rooftop solar projects undertaken in Q4 FY22. The diversification seems to have helped Tata Power traverse the coal shortage crisis effectively until now.

Meanwhile, as power demands have spiked to one of their highest in the country, even as fuel shortage is impacting power generation, the government has invoked Section 11 of the Electricity Act. This directs imported coal-based power units to run at full capacity. The order is expected to restart non-operational units of Tata Power. 

As for power units that use domestic coal, the Act directs all state and power companies to import at least 10% of their coal for blending. This is expected to majorly hit margins in the upcoming quarters as companies are forced to buy coal at current elevated rates. 

Segment-wise revenue

  • Renewables revenue at quarter-end stood at Rs.2,845.12 crore, up 56% from Rs.1,822 crore Q-o-Q; PAT up 60%.
  • Transmission and Distribution saw revenue come in at Rs.7,127 crore, rising 38 % Y-o-Y
  • Power generation displayed a revenue of Rs.3,021 crore, down 6% Y-oY
  • Others (segment) recorded a revenue of Rs.96.28 crore for the quarter, up 27.7% Y-o-Y and 10% Q-o-Q

Highlights

  • Tata Power’s net profit stood at Rs.632 crore, up 31% yearly
  • EBITDA rose to Rs.2,253 crore, up 22% Q-o-Q and 35% yearly
  • Revenue from operations was recorded at Rs.12,085 crore, up from Rs.10,379 crore yearly. 
  • Dividend of Rs.1.75 per share declared 
  • The company declared a profit despite the coal shortage and price rise
  • Renewables revenue rose to Rs.2,845 crore, up 56 % quarterly.
  • Generation and T&D declared healthy revenue of Rs.3,021 crore and Rs.7,127 crore, respectively. 

Check Tata Power Share price and company financials

Misses

  • Rising coal prices domestically and internationally are a cause of concern for the company

In  the news

  • Tata Power Solar secures India’s largest solar EPC order of 1GW worth INR 5500Cr from SJVN.
  • The company signs MoU with NAREDCO to install 5,000 EV charging points across Maharashtra.
  • Tata Power Renewables Commissions 300 MW Solar plant in Dholera, Gujarat, with India’s largest single-axis solar tracker system.
  • Tata Power gets NCLT approval for Composite Scheme of Arrangement with CGPL.
  • Social Alpha and Tata Power Announce ‘Net-Zero Industry Accelerator’ for Clean Energy transition.
  • Tata Power and Rustomjee Group collaborate to set up EV Charging infrastructure across Mumbai Metropolitan Region.
  • The company also signed an MoU with Enviro to deploy EV charging points in Gurugram.
  • Its P/E ratio stood at nearly 45.6 as of 6th May, 2022
  • ROCE and ROE are at 7.36 and 3.41, respectively. 
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