Torrent Power Limited (TORNTPOWER) Earnings Call Transcripts

Torrent Power Limited's Latest Earnings Call - Q4 FY2026

In Q4 FY '26, Torrent Power Limited reported a PBT of INR 547 crores, down from INR 619 crores YoY, primarily due to nonrecurring provisions of INR 171 crores. Adjusted PBT showed an increase to INR 718 crores from INR 790 crores YoY, reflecting a solid operational performance despite regulatory challenges. Management maintained a positive outlook on future earnings, citing improved ROE and ROCE driven by regulatory changes, while signaling a higher CapEx expectation for FY '27, indicating growth potential in renewable and distribution segments.

Reported metrics

Guidance from management

Management expects CapEx for FY '27 to be significantly higher than FY '26, driven by ongoing projects and regulatory incentives that could enhance ROE. They remain optimistic about future earnings recovery as regulatory approvals are anticipated.

What management said

So one-off item is basically second part of this call, which we have kept it for FY '24/'25 and in the last quarter of -- we got in the last quarter of March. So in the last of March, they have kept the power [indiscernible] particularly. And they have released -- they have made a of around INR 71 crores. That is one-off items for most in power projects. But as we highlighted, we informed that in the earlier quarter...

Yes. So license distribution and franchise, we incurred almost INR 1,600 crores CapEx for the full year. [indiscernible] since [indiscernible] has got commission and under construction right now, we spend about almost INR 550 crores in transmission projects. Thermal project, particularly coal-based project, we spent about INR 500 crores CapEx. The renewable is a substantial chunk, close to INR 6,500 crores CapEx we s...

What analysts pressed on

Analysts expressed concerns regarding the impact of one-off provisions on earnings and the sustainability of profitability in the renewable segment, especially given the expiration of government incentives. Additionally, there were questions about gas supply stability and pricing volatility affecting future margins.

Main topics on the call

• Regulatory Changes Impacting ROE — Management highlighted that the new regulatory framework allows for an increase in ROE from 14% to a potential 15%, contingent on performance-based incentives. They stated, "the effective ROE up from 14% to 15%" under th...
• CapEx Expectations for FY '27 — Management indicated that CapEx for FY '27 would be "definitely much, much higher" than the previous year, driven by ongoing projects in renewables and distribution. This suggests a robust growth trajectory and commitmen...
• Gas Supply and Pricing Concerns — Management confirmed that they have contracted 3 cargoes for summer demand and stated, "availability is not the issue" despite current price volatility. However, they acknowledged that high gas prices could impact profit...
• Impact of One-off Items on Earnings — The reported PBT was affected by a one-off provision of INR 171 crores, which management expects to be approved in the future. They noted, "we are reasonably certain that the current matter will also be approved in our r...

Read the full Torrent Power Limited transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 25 Torrent Power Limited earnings call transcripts on record, spanning February 12, 2020 to May 13, 2026. Based on this history, Torrent Power Limited reports quarterly. The most recent call on file is dated May 13, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

TORNTPOWER

Exchange

NSEI

Country

IN

Sector

Utilities

Industry

Electric Utilities

Calls on record

25

First call

February 12, 2020

Most recent

May 13, 2026

Reporting cadence

quarterly