Torrent Power Limited announced its financial results for the quarter and year ending March 31, 2026, revealing a revenue from operations of ₹28,966 crore for FY 2025-26, a slight decrease from ₹29,165 crore in the previous fiscal year. The company also declared a 200% dividend for the year, with a final dividend of ₹5.00 per equity share, bringing the total dividend to ₹20.00 per equity share.
The company’s EBITDA for Q4 FY 2025-26 stood at ₹1,220 crore, compared to ₹1,245 crore in the same quarter of the previous year. For the full fiscal year, EBITDA was ₹5,864 crore, up from ₹5,795 crore in FY 2024-25. Total Comprehensive Income (TCI) for Q4 FY 2025-26 was ₹408 crore, a significant drop from ₹1,085 crore in Q4 FY 2024-25. However, adjusting for a one-time, non-cash reversal of deferred tax liabilities of ₹637 crore in FY 2024-25, the TCI for the year improved by ₹92 crore.
The improvement in TCI was driven by enhanced operational performance in the licensed and franchised distribution businesses and the renewable energy segment, although these were partially offset by higher interest and depreciation costs due to ongoing project growth. The gas-based generation business faced constraints due to a volatile power demand scenario and gas market fluctuations.
Torrent Power’s balance sheet remains robust, with a Net Debt: Equity ratio of 0.67 and a Net Debt: EBITDA ratio of 2.06 as of March 31, 2026. The company has committed over ₹30,000 crore towards expanding its thermal capacity by 3 GW, including a new 1,600 MW power project in Madhya Pradesh and the acquisition of the 1,400 MW Nabha Power.
Vice Chairman and Managing Director, Mr. Jinal Mehta, highlighted the company’s strategic focus on sustainable growth, stating that Torrent Power is building a diversified energy platform with a strong presence in renewables, thermal, storage solutions, and distribution. He emphasised the company’s readiness to support India‘s energy transition amid a demanding growth phase in the power sector.
Torrent Power distributes approximately 31 billion units to around 4.29 million customers across various regions, including Gujarat, Maharashtra, and Uttar Pradesh. The company is recognised for having the lowest distribution losses and best reliability indices in its licensed areas, reinforcing its reputation as a leading power distributor in India.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).