Tata Power Q4FY22 and Year Ended result : Renewable PAT rises 60%, net profit grew 28% to ₹503 Cr YoY

Board recommends a dividend of ₹1.75 per share ➢ Solar EPC execution picked up, 1.5 GW utility scale projects completed in FY22. 2 GW order book worth ₹7,275 crore as on 31st March, 2022

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Tata Power is one of India’s largest integrated power companies, present across the entire power value chain of conventional & renewable energy, power services, and next-generation customer solutions including solar rooftop, EV charging stations, and home automation. The company has an installed generation capacity of 13061 MW(as of September 2021) out of which 3948 MW is from Clean and Green sources (Hydro waste heat recovery wind and solar)in India and a presence in all the segments of power sector viz.

Fuel & Logistics Generation (thermal hydro solar and wind) Transmission Distribution and Trading. It has successful public-private partnerships in Generation Transmission and Distribution in India namely ‘Tata Power Delhi Distribution Limited’ with Delhi Government for distribution in North Delhi Powerlinks Transmission Ltd.' with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi andMaithon Power Ltd.’ with Damodar Valley Corporation(DVC) for a 1050 MW Mega Power Project at Jharkhand. Tata Power is one of the largest renewable energy players in India and has developed the country’s first 4000 MW Ultra Mega Power Project at Mundra (Gujarat) based on super-critical technology. The company has posted its Q4FY22 and year ended financial results on 6th May,2022, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹12,219.36 crore in the quarter ended on March 31, 2022 as against ₹1,0457.69 crore in the corresponding quarter ended last year on Mar 31, 2021, increased by 16.85%.

The company has posted a consolidated Net Profit of ₹503.11 crore in the quarter ended on March 31, 2022 as against ₹392.94 crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT surges up by 28.04%.

The status of the EPS of the company stood at ₹1.58 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹1.10, up by 43.64%.

₹*Mar 31, 2022 (Q4FY22)Dec 31, 21 (Q3FY22)Mar 31, 21 (Q4FY21)
Total Income12,219.3611,018.731,0457.69
Total Expenses11951.6810990.1010359.96
PBT /(Loss)538.56788.49462.65
Total Tax /(credit)(561.64)236.6(107.79)
PAT /(Loss) [to the owners]503.11425.81392.94
*figures are in Crores

(II) Audited Consolidated Financial Result details for the Year Ended :

The company has reported, a consolidated Total Income of ₹43,735.63 crore in the financial year ended on March 31, 2022 as against ₹33,142.55 crore for the financial year ended on Mar 31, 2021, increased by 31.96%.

The company has posted a consolidated Net Profit of ₹1,741.46 crore in the financial year ended on March 31, 2022 as against ₹1,127.38 crore for the financial year ended on March 31, 2021. The PAT surges up by 54.47%.

The status of the EPS of the company stood at ₹5.36 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹3.17, up by 69.09%.

₹*Mar 31, 2022 (FY22)Mar 31, 2021 (FY21)
Total Income43,735.6333,142.55
Total Expenses42285.7232455.94
PBT /(Loss)3003.001986.73
Total Tax /(credit)379.56501.88
PAT /(Loss)1,741.461,127.38
*figures are in Crores

(III) Key Highlights about the Performance :

Business :-

Renewables:
• Renewable Portfolio PAT grew by 60% in Q4 FY22 vs Q4 FY21 due to the addition of 707 MW capacity in FY22
• Strong execution of both large scale and rooftop solar projects by Tata Power Solar Systems Ltd (TPSSL) despite headwinds due to higher module cost
• In April 2022, the BlackRock Real Assets-led consortium, including Mubadala Investment Company entered into a binding agreement to invest ₹4,000 crore (~US$ 525 million) in Tata Power’s Renewable Energy Platform, Tata Power Renewable Energy Ltd. by way of equity/compulsorily convertible instruments for a 9.76-11.43% stake, translating to a base equity valuation of ₹34,000 crore
• TPSSL to set up 4 GW solar cell and module manufacturing capacity with an investment of approx. ₹3,400 crore
• Launched ‘Surya Shakti Cell’, a dedicated centralized processing cell for financing retail Solar projects with the State Bank of India
• Collaboration with RWE Renewables to explore the potential for development of offshore wind projects in India
Solar Rooftop:
• Order book as on 31st March 2022 stands at ₹ 516 Crore
• Channel Network expanded to 300+ Partners across 150+ districts
• Tata Power continues to be the No. 1 Solar Rooftop EPC player for eight years in a row as per Bridge to India report, with 13% market share, 3X of the next closest competitor

EV Charging:
• Installed network of 1500+ Public and Semi-Public EV Chargers with another 550+ in various stages of installation. 13000+ Home chargers (for private use) & 200+ Bus Charging points installed across India
• Signed MoU with NAREDCO (National Real Estate Development Council) to install 5,000 EV charging points across Maharashtra
• Partnered with Apollo Tyres to deploy EV charging stations at its Commercial & Passenger Vehicle Zones across India

tata power q4 result 2022- article continues

Other Details :-

➢ Consolidated Q4 revenue at ₹12,085 crore (16% YoY increase). Consolidated EBITDA up by 35% at ₹2,253 Crore vs ₹1,668 crore in Q4 FY21
➢ Yearly revenue at ₹42,576 crore (growth of 28% YoY)
➢ 10th consecutive quarter of PAT growth
➢ Board recommends a dividend of ₹1.75 per share
➢ Solar EPC execution picked up, 1.5 GW utility scale projects completed in FY22. 2 GW order book worth ₹7,275 crore as on 31st March, 2022
➢ Installed network of 1500+ Public and Semi-Public EV Chargers with another 550+ chargers in various stages of installation. 13000+ Home chargers (for private use) & 200+ Bus charging points installed across India
➢ Received NCLT approval for merger of CGPL and Af-taab with Tata Power
➢ Resurgent Power Ventures Pte Ltd completed acquisition of NRSS XXXVI Transmission Ltd covering 153 Km of transmission line along with
associated grids in Uttarakhand, Rajasthan and Haryana
➢ Resurgent Power Ventures Pte Ltd awarded LOI for acquisition of South East UP Power Transmission Company Ltd under the IBC proceedings
➢ To empower rural India, installed 27,500 solar pumps in FY22 and 191 Microgrids (serving more than 14,000 customers)
➢ PT Kaltim Prima Coal granted a Special Mining Business Permit (IUPK) by the Indonesian Govt./ Authorities for a period of 10 years and further expandable as per the applicable regulations at that time
➢ In April 2022, BlackRock-led consortium including Mubadala Investment entered into a binding agreement to invest Rs. 4,000 crore in Tata Power Renewable Energy Platform National, on 6th May 2022

tata power solar power business chart

Shares of Tata Power Ltd was last traded in BSE at ₹245.20 as compared to the previous close of ₹247.55. The total number of shares traded during the day was 3620170 in over 39805 trades.

The stock last hit in BSE,

  • Intraday High of ₹ 246.90
  • Intraday low of ₹ 240.65