Tata Power Company Ltd., incorporated in the year 1919, is a Mid Cap company (having a market cap of Rs 76272.75 Crore) operating in Power sector.
Tata Power Company Ltd. key Products/Revenue Segments include Power Supply, Project Management Fees, Other Operating Revenue, Income from Finance Leases and Fly Ash for the year ending 31-Mar-2021.
Financials
For the quarter ended 30-09-2021, the company reported a Consolidated Total Income of Rs 10187.33 Crore, up .41 % from last quarter Total Income of Rs 10145.89 Crore and up 20.68 % from last year same quarter Total Income of Rs 8441.60 Crore. Company reported net profit after tax of Rs -117.18 Crore in latest quarter.
Investment Rationale
The brokerage increases earnings estimates by 1.3%/1.5%/2.5% for FY22/FY23/FY24, factoring in the Q3 beat. It maintains Buy with a revised TP of Rs2,160 (earlier Rs 2,100) at 30x Dec’23E EPS, considering strong earnings momentum and a robust demand environment.
Promoter/FII Holdings
Promoters held 46.86 per cent stake in the company as of 30-Sep-2021, while FIIs owned 11.06 per cent, DIIs 19.9 per cent.
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