Torrent Power Announces Q4 FY26 Results, Recommends Dividend for Fiscal Year

Torrent Power Announces Q4 FY26 Results, Recommends Dividend for Fiscal Year​

Ahmedabad, May 12, 2026: Torrent Power Limited today announced its audited consolidated financial results for the quarter and year ended March 31, 2026. The company also recommended a final dividend for the fiscal year.

The financial results show the following performance figures for the company:


Adjusting for a one-time, non-cash reversal of deferred tax liabilities of ₹ 637 Crs in FY 2024-25, the TCI for the year improved by ₹ 92 Crs. This improvement was driven mainly by several factors, including improved operational performance in the licensed and franchised distribution businesses, and better operational performance from the Renewable Energy segment. These gains were partly offset by higher interest and depreciation costs associated with continued growth and new projects under implementation. The contribution from the gas-based generation business remained constrained due to dynamic power demand scenarios and gas market volatility.

Torrent Power maintains a strong balance sheet position within the power sector. As of March 31, 2026, the company recorded a Net Debt: Equity ratio of 0.67 and a Net Debt: EBITDA ratio of 2.06.

Strategic Outlook and Capacity Buildout​

Speaking on the performance, Mr. Jinal Mehta, Vice Chairman and Managing Director, Torrent Power, stated that FY26 marks a significant milestone as the company prepares for the next phase of sustainable growth.

Mr. Mehta highlighted the company's commitment to accelerating growth in renewables, thermal, and storage solutions. In the thermal business, Torrent committed over ₹30,000 crores towards enhancing its thermal capacity by 3 GW. This includes initiating construction of a new 1,600 MW power project in Madhya Pradesh and the strategic acquisition of 1,400 MW Nabha Power, reinforcing the company's position in the thermal generation segment.

The company proactively strengthened its gas-based portfolio by enhancing fuel security through long-term Liquefied Natural Gas (LNG) partnerships with global players like BP and JERA, while keeping some capacities open to capture market opportunities.

The distribution business continues to demonstrate the resilience of its operating model. In the licensee businesses, the company achieved distribution losses of 2.33%, which was noted as the lowest in the country, and ranked number 1 among the 65 DISCOMS in national rankings.

Looking ahead, Torrent Power is building a diversified energy platform with a strong presence across renewables, thermal, storage solutions, and distribution, positioning it to support India's energy transition.

Dividend Recommendation​

The Board of Directors, during its meeting held on May 12, 2026, recommended a total dividend for FY 26. The total dividend comprises an interim dividend of ₹ 15.00 per equity share and a final dividend of ₹ 5.00 per equity share.

Generating and Distribution Footprint​

Torrent Power, an integrated power utility, has an aggregate installed generation capacity of 5,094 MWp. This capacity comprises 2,730 MW of gas-based capacity, 2,002 MWp of renewable capacity, and 362 MW of coal-based capacity.

Key capacity figures include:

• Generation: The company has established renewable projects of approximately 3.96 GWp, Pumped Storage Capacity of 3 GW, and coal-based power capacity of 1.6 GW under development.
• Future Capacity: Total Generation and Pumped Storage capacity, including projects under development and acquisition, is estimated at approximately 12.05 GWp and 3 GW, respectively. The company is also in the process of acquiring the 1.40 GW coal-based Nabha Power Project.

In distribution, Torrent Power serves nearly 31 billion units to around 4.29 million customers across multiple cities in Gujarat, Maharashtra, and Uttar Pradesh. The company is widely recognized for having the lowest distribution losses and best reliability indices in its licensed areas in Gujarat.

TORNTPOWER Stock Price Movement​

Today, Torrent Power Limited stock shed 4.77%, closing the session at ₹1597.6. The decline was supported by significant trading activity, with the stock moving on a volume of 410,568 shares.