Target: â¹471.60
CMP: â¹429.90
Total income in the first three quarters of FY24 increased by 8 per cent y-o-y, with power transmission and distribution business contributing the main revenue. The companyâs total revenue has grown rapidly from â¹29,699 CRORE in fiscal 2020 to â¹56,547 CRORE in fiscal 2023, with a compound annual growth rate of 24 per cent during the period.
In fiscal 2023, the companyâs total revenue increased by 29 per cent year-on-year. This increase was mainly due to increased power generation at the Mundra plant operating under the guidance of the Ministry of Power (MoP), increased sales in the power distribution business, and increased capacity in the renewable energy business. In the first three quarters of fiscal year 2024, the company achieved revenue of â¹46,808 crore, a y-o-y increase of 8.3 per cent, mainly because the validity period of Article 11 of the Electricity Act was extended to September 30, 2023.
The Indian government said power plants using imported coal would operate at full capacity until September, so the companyâs increase in power generation supported revenue growth. In the first three quarters of fiscal year 2024, Tata Powerâs transmission and distribution business contributes the main revenue, accounting for approximately 56 per cent.
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