The Tata Power Company Limited

KIRA view

Pillar 1 — Business Quality & Moat

Business overview, segments, revenue drivers, competitive position and industry standing.

Revenue drivers

• Regulated returns (T&D) ANALYSIS
• Merchant generation ANALYSIS
• Renewables capacity + solar EPC/manufacturing ANALYSIS

Competitive position — peers

• NTPC ANALYSIS
• JSW Energy ANALYSIS
• Adani Green (partial) ANALYSIS
• Torrent Power ANALYSIS

Pillar 2 — Growth Quality

Revenue/AUM and profit growth, multi-year CAGR, growth consistency, growth drivers and relevant recent developments.

Growth drivers

• Renewables capacity buildout ANALYSIS
• Odisha discom turnaround/T&D cluster +13.5% ANALYSIS
• Solar manufacturing scaling ANALYSIS
• Rs25,000cr FY27 capex ANALYSIS

Recent developments

• FY26 results announced 12 May 2026: consolidated net profit incl. non-controlling interests ₹5,117.56 crore (+7.2%); profit attributable to owners ₹3,747.19 crore (−5.6%); final dividend ₹2.50 per share recommended. SOURCED S12, S10

Pillar 3 — Profitability & Return Ratios

Margins, ROE, ROCE, and ROA/NIM for financial companies.

Pillar 4 — Balance Sheet Strength

Debt, leverage, liquidity, capital adequacy and asset quality where applicable.

Notes

• note: Leverage hypothesis under research; detail from AR pending ANALYSIS

Pillar 5 — Cash Flow & Earnings Quality

CFO, FCF, CFO/PAT, working capital and, for lenders, credit-cost quality.

Notes

• note: Detail pending ANALYSIS

Pillar 6 — Governance & Shareholding

Promoter holding and pledge, FII/DII/public holding, auditor, board, regulatory actions and material litigation.

Shareholding

Shareholding notes

• Promoter & promoter group 46.86% as of 30-Jun-2026, nil pledge (S13). SOURCED S13

Governance, regulatory & litigation

• Tata Sons-led promoter group holds 46.86% (30-Jun-2026); no promoter shares pledged. [Company filing] The ₹25,000 crore FY27 capex figure is reported only in media coverage and is not verified against a primary document. SOURCED S13

Pillar 7 — Valuation Comfort

P/E, P/B, EV/EBITDA, dividend yield, historical and peer context — descriptive only; no price target.

NOT VERIFIED — no verified data for this pillar yet.

Pillar 8 — Technical Confirmation

Informational only: long-term trend context when properly sourced. No entry levels, targets, stop-losses or calls.

No sourced technical data. This pillar is informational only and never carries entry levels, targets, stop-losses or buy/sell/hold calls.

Material risks

• Capex-driven leverage ANALYSIS
• Merchant price cyclicality ANALYSIS
• Regulatory shifts ANALYSIS

Key questions to monitor

None recorded yet.

Sources

Research status

Status

READY

Confidence

HIGH

Data as of

2026-09-26

KIRA Score

Not yet scored — no verified KIRA Score registry match

Method

Primary filings first; aggregators for cross-check only. SOURCED = from a cited document; ANALYSIS = KIRA interpretation; UNVERIFIED = not yet checked against a primary source.

Withheld

6 item(s) not yet verified are not shown.

Data conflicts

• Resolved · financials.revenue.FY26
  Press release/presentation revenue ₹63,681 crore vs audited revenue from operations ₹62,428.59 crore.
  Definitional. Company-reported 'Revenue' ₹63,681 crore (S10/S11) vs audited 'Revenue from operations' ₹62,428.59 crore (S12). Canonical revenue = audited ₹62,428.59 crore; the company figure is stored as revenue_company_reported. Revenue from operations fell 4.7% YoY (65,478.24 → 62,428.59). S10, S11, S12
• Resolved · financials.PAT.FY26
  'Reported PAT' ₹5,118 crore vs profit attributable to owners ₹3,747.19 crore.
  Definitional, not an error. S12 (audited): net profit for the period incl. non-controlling interests ₹5,117.56 crore (the company's 'Reported PAT ₹5,118 crore'); profit attributable to owners ₹3,747.19 crore (basic EPS ₹11.72). Canonical PAT = attributable ₹3,747.19 crore (L&T/Thermax convention). Profit incl. NCI is kept as profit_for_year. Note: attributable PAT declined 5.6% YoY (3,971.00 → 3,747.19) while profit incl. NCI rose 7.2%. S12