Torrent Power Reports Q1 Results for FY27; Completes Acquisition of Nabha Power Limited

Torrent Power Reports Q1 Results for FY27; Completes Acquisition of Nabha Power Limited​

Torrent Power Limited announced its unaudited consolidated financial results for the quarter ended June 30, 2026. While the company achieved EBITDA growth of 2%, driven by strong performance in its Distribution and Renewable Energy segments, Total Comprehensive Income (TCI) was impacted by financing costs related to strategic investments in its developing portfolio. Concurrently, the company completed the acquisition of Nabha Power Limited (NPL).

The Q1 FY27 results reflect mixed operational circumstances. EBITDA rose to ₹1,619 Crs, compared to ₹1,588 Crs in Q1 FY25-26. Revenue from Operations stood at ₹8,124 Crs for the current quarter, up from ₹7,906 Crs in Q1 FY25-26. However, TCI was reported at ₹639 Crs, a decrease from ₹739 Crs in the previous fiscal year period.

The company noted that while geopolitical disruptions affecting LNG supplies challenged the performance of its thermal power plants, it delivered strong results from other divisions. Distribution and Renewable Energy businesses saw respective EBITDA growth rates of 10% and 6%.

Key factors influencing the quarter's performance included:

• Improved operational performance across all distribution businesses.
• Better performance from the renewable portfolio, attributed to higher plant load factors and contributions from projects commissioned in the prior year.
• Higher finance costs resulting from increased borrowings utilized for investments in under-construction assets.

Financial metrics for Torrent Power Limited for Q1 FY27 versus Q1 FY25-26 are detailed below:

Strategic Expansion: Acquisition of Nabha Power Limited​

A major strategic development during the quarter was the acquisition of Nabha Power Limited (NPL). The Company consummated this deal on June 25, 2026. NPL, which operates a 2x700 MW coal-based supercritical thermal power plant in Punjab, was acquired for a consideration of ₹3,632.35 Crore. This transaction made NPL, with its 2x700 MW asset that supplies power under long-term Power Purchase Agreements to Punjab State Power Corporation Limited (PSPCL), a wholly-owned subsidiary of the Company.

Operational Overview and Capacity​

Torrent Power is an integrated power utility valued at ₹28,966 Crs within the approx. ₹50,000 Crs Torrent Group. The company operates across generation, transmission, and distribution throughout the power value chain.

Generation Capacity:
The Company maintains an aggregate installed generation capacity of 6.6 GWp. This capacity comprises 2.7 GW of gas-based capacity, 2.1 GWp of renewable capacity, and 1.8 GW of coal-based capacity. Furthermore, the company has projects under development including approximately 4.2 GWp of renewable projects, 3 GW of Pumped Storage Capacity, and 1.6 GW of coal-based power. Including these future developments, the total Generation and Pumped Storage capacity is estimated at ~12.3 GWp and 3 GW respectively.

Distribution Reach:
Torrent Power distributes nearly 31 billion units to around 4.29 million customers. The company’s licensed areas cover various locations, including Ahmedabad, Gandhinagar, Surat, Dahej SEZ, and Dholera SIR in Gujarat; the Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD); and regions such as Bhiwandi, Shil, Mumbra, Kalwa in Maharashtra, and Agra in Uttar Pradesh. Torrent Power is recognized as a leading power distributor in India, with its licensed areas in Gujarat noted for having the lowest distribution losses and best reliability indices nationally.

TORNTPOWER Stock Price Movement​

Shares of Torrent Power Limited shed 1.34% in trading today, closing down to ₹1391.70 after settling at the end of the market session. The stock traded within an intraday range defined by a low of ₹1387.2 and a high of ₹1423.8 on a volume of 337,462 shares.