Torrent Power Ltd
Torrent Power Ltd (TORNTPOWER)

Torrent Power Ltd (TORNTPOWER)

₹587.50.98%

Key Stats

₹577.3
Day's Price Range
₹589.9
₹415.25
52-Week Price Range
₹606.55
1 Month Return13.71 %
3 Month Return35.4 %
1 Year Return26.43 %

Company Financials

  • Quarterly
  • Annual
Value in ₹ crore

Peer Comparsion

PE
Rank 7
61.84
EPS
Rank 4
₹9.44
BVPS
Rank 2
₹211.62
Dividend Yield
Rank 4
2.6%
ROE
Rank 4
13.63%
Price To Book Ratio
Rank 3
2.76
Debt To Asset
Rank 2
0.59

Company Information

Torrent Power Limited is an integrated power utility and is one of the largest private sector players in India having interests in power generation transmission distribution and manufacturing and supply of power cables. It has a portfolio of coal based gas based and renewable power plants with an aggregate generation capacity of 3721 MW with a unique mix of coal based gas based and renewable power plants that use highly efficient power generation technologies. It also has underconstruction wind power plants aggregating to 1111 MW. Torrent Power operates 249 km and 105 km 400kV double circuit transmission lines implemented by it for evacuating power generated at SUGEN the 1147.5 MW gas based power plant near Surat in South Gujarat and DGEN the 1200 MW combined cycle gas based Power Plant at Dahej SEZ plant to various offtake centres. Torrent Power distributes power to over 3 million customers annually in its distribution areas of Ahmedabad Gandhinagar Surat and Dahej SEZ Gujarat in Bhiwandi Maharashtra and in Agra Uttar Pradesh. The cables unit of the company manufactures Power Control Cables and is one of the market leaders in HT Power Cable segment with a manufacturing capability of up to 132 kV XLPE Cables.Torrent Power Ltd was incorporated on April 29 2004 as a private limited company with the name Torrent Power Trading Pvt Ltd. In January 25 2006 the name of the company was changed to Torrent Power Private Ltd. In February 8 2006 the company was converted into public limited company and the name was changed to Torrent Power Ltd. In the year 2006 as per the scheme of amalgamation Torrent Power AEC Ltd Torrent Power SEC Ltd and Torrent Power Generation Ltd were amalgamated with the company with effect from April 1 2005. In July 28 2006 the company divested their stake partially in AEC Cements Constructions Ltd a nonmaterial and nonlisted subsidiary and hence AEC Cements Constructions Ltd ceased to be a subsidiary company.In October 19 2006 Torrent Power Grid Ltd erstwhile Torrent Power Transmission Pvt Ltd a joint venture company with Power Grid Corporation of India Ltd became a subsidiary of the company. In December 20 2006 the company signed a distribution franchise agreement with Maharashtra State Electricity Distribution Company Ltd for the Bhiwandi circle in Maharashtra for a period of ten years. In January 26 2007 the company commenced Distribution Franchise for Bhiwandi circle of Maharashtra State Electricity Distribution Company Ltd catering to 1.4 lakh customers with an unrestricted demand of about 700 MW. In May 2007 the company signed a memorandum of understanding MoU with Gujarat Power Corporation for setting up over 1000MW coal based power project at Pipavav Amreli Dist in Gujarat. During the year 200708 the company added 321 Distribution Transformers of 11 kV at Ahmedabad Gandhinagar and Surat. They also commissioned the first phase of 220 kV Transmission Lines project at Surat. In September 25 2007 the company formed a subsidiary company namely Torrent Pipavav Generation Ltd for the development of coal based thermal project.During the year 200809 the company added 352 Distribution Transformers of 11 kv at Ahmedabad Gandhinagar and Surat. The companys subsidiary Torrent Power Grid Ltd a joint venture with PGCIL commissioned the first phase of evacuation arrangement by construction of 26 km JhanorVapi LILO line. The company also installed and commissioned transmission lines to connect SUGEN plant with 220 kv Kim substation of GETCO. During the year the company was awarded the Distribution Franchise to Agra and Kanpur Distribution Circles for a period of 20 years. In September 2008 the company formed Torrent Power Bhiwandi Ltd formerly known as Torrent Power Distribution Services Ltd as a subsidiary company for providing infrastructural and manpower support for Bhiwandi operations of the company.In October 2008 the company entered into a Power Purchase Agreement with Gujarat Paguthan Energy Corporation Pvt Ltd for supply of 49.6 MW wind power. Simultaneously the company is also evaluating the establishment of their own wind and solar power generation. In March 2009 Torrent Energy Ltd became a subsidiary of the company which is formed for setting up a 1500 MW gas based combined cycle power plant in Dahej SEZ. The company signed Fuel Supply Agreement FSA with South Eastern Coalfields Ltd a subsidiary of Coal India Ltd for meeting requirements of their coal based generating station at Sabarmati. The FSA is effective for a period of 5 years from April 1 2009. In May 2009 the Uttar Pradesh Power Corporation Ltd UPPCL has entered into an agreement with the company for power distribution in Kanpur and Agra.During the year 200910 the company signed the shareholders agreement with Gujarat Power Corporation Ltd for implementation of the 1000 MW CoalBased Power Project at Pipavav Dist. Amreli Gujarat. Torrent Power Grid Ltd a subsidiary company commissioned the second phase of power transmission line 80 km. double circuit 400 kV transmission lines i.e. GandharDehgam Loop in Loop out LILO at SUGEN to facilitate power supply from SUGEN to Ahmedabad.In August 15 2009 the company fully commissioned their ambitious SUGEN Mega Power Project. In September 30 2009 the company commissioned 1147.5 MW SUGEN Mega Power Project and was dedicated to the nation. The company was awarded the distribution franchise for Agra and Kanpur distribution circles for a period of 20 years. They commenced distribution operations at Agra from April 1 2010.Torrent Energy Limited TEL became the Distribution Licensee for Dahej SEZ and in April 4 2010 they commenced the distribution of power.During the year 201011 the company divested their shareholding from Torrent Power Bhiwandi Ltd TPBL. TPBL therefore ceased to be a subsidiary of the company. The Company commenced distribution franchisee operations at Agra effective from April 1 2010. The company forayed into the thrust area of renewable energy by conceptualizing the 44 MW wind power generation project. They signed an agreement with Enercon India Ltd to commission this project at Lalpur District Jamnagar Gujarat. The company signed an MoU with the Government of Uttar Pradesh for development of 1320 MW Coal Based Power Plant at Sandila Dist. Hardoi Uttar Pradesh which is in its initial stage of development. During the year 201011 Torrent Power Grid Limited a subsidiary of the Torrent Power Limited commissioned the third and final phase of 144.5 kms 400 kV Double Circuit line part of transmission infrastructure from SUGEN Generating Station to Pirana substation of PGCIL with Loop in Loop out LILO at 400 kV substation of the company at Pirana . From 1 April 2010 Torrent Power commenced operations as distribution franchise for Agra circle Uttar Pradesh. On 2 July 2010Torrent Power and its subsidiary Torrent Energy Limited awarded EPC contract to Siemens for implementing UNOSUGEN 382.5 MW combined cycle gas based Power Plant at its existing SUGEN Plants location and DGEN 1200 MW combined cycle gas based Power Plant at Dahej SEZ respectively. Torrent Energy Limited became the Distribution Licensee for Dahej SEZ and distribution of power commenced on 4 April 2010.During the year 201011 the 382.5 MW UNOSUGEN the brown field expansion to SUGEN Power Plant received Mega Power Project Status from the Ministry of Power environmental clearance from MoEF and connectivity approval from Central Transmission Utility. During the year under review the central transmission utility granted connectivity and Long Term Open Access for 1200 MW DGEN Power Plant.On 22 March 2012 Torrent Power successfully commissioned its first 49.6 MW Wind Power Plant at Lalpur District Jamnagar Gujarat. On 10 April 2012 the Ministry of Commerce Industry granted Torrent Energy Limited the status of CoDeveloper at Dahej SEZ area. On 28 November 2011 1196.85 DGEN Power Project obtained provisional Mega Power status by Ministry of Power Govt. of India. During the year 201112 Torrent Energy Limited successfully implemented the 400 kV Double Circuit Transmission line with triple snowbird conductor from DGEN Generating Station to PGCILs Navsari Substation for Connectivity with the Interstate Transmission System.On 30 April 2013 the company successfully uprates the 110 MW coal based F station of AMGEN the 422 MW coal based power plant to 121 MW and synchronises the same with the grid. On 21 October 2013 the company successfully uprates the 110 MW coal based E station of AMGEN to 121 MW and synchronises the same with the grid. During the year 201314 DGEN the 1200 MW combined cycle gas based Power Plant at Dahej SEZ and UNOSUGEN the brown field expansion to SUGEN Power Plant were successfully registered with United Nations Framework Convention on Climate Change under the Clean Development Mechanism. During the year under review Torrent Power put into commercial operation the 382.5 MW UNOSUGEN Power Project.During the year 201415 Torrent Power successfully commissioned the 1200 MW DGEN Power Project at Dahej SEZ District Bharuch Gujarat. During the year under review Torrent Power commissioned the 51 MW Solar Photovoltaic PV Power Plant at the Charanka Solar Park in Gujarat.Torrent Energy Limited and Torrent Cables Limited amalgamated with Torrent Power Limited with effective date of 1 October 2015 and appointed date of 1 April 2014 pursuant to the order of the High Court of Gujarat sanctioning the Composite Scheme of Amalgamation. During the year 201516 Torrent Power inked an agreement for regasification and storage capacity with Petronet LNG Limited up to 1 MMTPA for 20 years starting from April 2017. During the year under review Torrent Power successfully commissioned the 81 MW GENSU Solar Power Project adjacent to SUGEN Plant in a cost effective manner.During the year under review Torrent Power awarded EPC contract to Suzlon Energy Limited for implementing 201.6 MW Wind Power Project in Kutch and Bhavnagar districts in Gujarat. It also awarded EPC contract to M/s. Wind World India Ltd. for implementing 136.8 MW Wind Power Project in Rajkot and Surendranagar districts in Gujarat.The Board of Directors of Torrent Power Limited at its meeting held on 18 May 2016 approved the draft Scheme of Arrangement between Torrent Solargen Limited TSL formerly known as Torrent Power Bhiwandi Limited the wholly owned subsidiary of the company and Torrent Power Limited TPL. The Scheme provides for the transfer and vesting of the solar and wind energy undertakings of TSL to the TPL on a going concern basis by way of slump sale for a lumpsum cash consideration of Rs 80.63 crore with effect from the appointed date of 1 April 2015. On 14 February 2018 Torrent Power Limited announced that the company has entered into a contract with Siemens Gamesa Renewable Power Private Limited for setting up of wind power projects upto the aggregate capacity of 120 MW. The arrangement includes acquiring of the 100 share capital of the two SPVs established for the purpose of development and implementation of the said projects at Rs 1 lakh each from Siemens Gamesa Renewable Power Private Limited.On 7 March 2018 Torrent Power Limited announced that the company participated in the competitive bidding process followed by the Reverse EAuction process held on 6 March 2018 by Maharashtra State Electricity Distribution Co. Ltd. MSEDCL for procurement of power on long term basis from 500 MW grid connected wind power projects and emerged as a winner in the auction for setting up of 124.4 MW project. The said capacity of 124.4 MW will be developed in the state of Maharashtra. The project shall be commissioned within 18 months from the date of execution of the PPA as specified by MSEDCL.On 26 September 2018 Torrent Power Limited announced that the company participated in the competitive bidding process by way of Ereverse auction process conducted by Solar Energy Corporation of India Ltd. SECI on 25 September 2018 for settingup of 1200 MW ISTS connected wind power projects and emerged as one of the winning bidders for capacity of 115 MW project.
OrganisationTorrent Power Ltd
HeadquartersAhmedabad
IndustryPower Generation & Distribution