? Posts strong Annual Reported PAT for FY23 at ? 3,810 crore (77% YoY growth)
? Record annual performance with all time high EBITDA and PAT
? Consolidated annual EBITDA grows 23% at ?10,068 crore
? Consolidated annual Revenue grows 32% at ?56,033 crore
? Consolidated EBITDA grows 38% in Q4FY23 at ? 3,101 crore
? Consolidated Revenue grows 6 % in Q4FY23 at ?12,755 crore
? Reports 14th consecutive quarter of PAT growth
? Board recommends a dividend of ?2 per share subject to shareholders approval
Tata Power, one of
India’s largest integrated power companies, with operations across the entire power
value chain, today announced its results for Q4 and full year FY23.
With significant growth across all its business verticals, the Company continues to
strengthen its position as one of the country’s leading green-energy and consumercentric power utilities. Tata Power's PAT has risen for the 14th straight quarter (YoY)
and has witnessed significant rise in Consolidated Revenue and EBITDA
demonstrating the effectiveness of its business strategy and operational excellence.
Consolidated Quarterly performance highlights: Q4FY23 vs Q4FY22 (YoY)
? Consolidated Revenue up by 6% at ?12,755 crore vs ?12,085 crore in Q4FY22 due
to higher sales across Distribution Companies & capacity addition in Renewables
? Consolidated EBITDA up by 38% at ?3,101 crore vs ?2,253 crore in Q4FY22 due to
lower under recovery in Mundra, capacity addition in Renewables & execution of Solar
EPC projects
? Consolidated Reported PAT up by 48 % at ?939 crore vs ?632 crore in Q4FY22
supported by strong performance across all businesses
Consolidated Full year performance highlights: FY23 vs FY22
? Consolidated Revenue growth of 32% at ?56,033 crore vs ?42,576 crore in FY22 due
to higher availability in Mundra Thermal Plant which operated under Ministry of Power
(MoP) guidelines, higher sales across distribution companies & robust addition in
Renewables portfolio
? Consolidated EBITDA grew by 23% at ?10,068 crore vs ?8,192 crore in FY22 on
account of lower losses in Mundra Plant and capacity addition in Renewables
? Consolidated Reported PAT increase by 77% at ?3,810 crore vs ?2,156 crore in
FY22 due to better performance across all business clusters
Dr. Praveer Sinha, CEO & MD, Tata Power said, "We are delighted to announce that
Tata Power has delivered a strong performance in FY23 with robust growth across all
our business clusters - Generation, Transmission, Distribution, and Renewables. The
growing need for power has enabled us to keep our momentum strong as we remain
committed to meeting the nation’s demand with reliable and quality power supply.
Our distribution business has performed exceptionally well which is evident from the
continuous reduction in AT&C losses in Odisha Discoms and the high performance
ratings of our Mumbai, Delhi & Odisha Discoms.
Our Renewable Energy business has expanded significantly across EPC, Utility Scale
and Rooftop verticals and is well poised to lead India’s green energy transition. The
completion of ?4,000 crore (~US$ 525 million) worth capital infusion into our
renewables business, one of the biggest value unlocks in renewable business globally,
will enable us to fuel the next leg of growth. We have also made rapid strides in our
EV charging business and have emerged as the largest network in the country with
presence across 350+ cities and towns.
Tata Power is rapidly transforming into a new-age sustainable technology oriented
and customer-centric green energy solutions company with a healthy mix of regulated
and unregulated businesses for future growth.”
Key Business Highlights:
Renewables Business wins 1.6 GW capacity across solar and hybrid
• TPSSL received Letter of Award of ? 1,755 crore to set up 300 MW solar project
for NLC India Limited in Rajasthan
• TPREL won 255 MW hybrid order from Tata Power Delhi Distribution Limited
(TPDDL) post exercising of green shoe option. This is in extension to 255 MW
order won in Q3 FY23
• Tata Power Renewables secured Letter of Award to set up 200 MW Solar PV
Project for MSEDCL in Solapur, Maharashtra
• TP Saurya Limited inked PPA to set up 600 MW Wind Solar Hybrid project with
SECI in Karnataka
• Well diversified Utility Scale order book stands at 4 GW worth ? 17,468 Crore
• Rooftop Solar Order Book stands at ? 1,900 crore. Q4FY23 witnessed strong
upswing with ? 1,600 crore worth of orders received and billing crossing ? 1,000
crore mark.
• TP Solar Ltd. received a Letter of Award for incentives amounting to ?383
crores to set up 4 GW manufacturing capacity under the production linked
incentive (PLI) scheme, Tranche II
• ? 4,000 crore (~US$ 525 million) worth capital infusion into Tata Power
Renewable Energy Limited gets completed from Blackrock led consortium
which includes Mubadala Investment Company (Mubadala). The investment
will fund the growth of India’s most comprehensive renewable energy platform
set up by the Company in 2022
• TPSSL reached a cumulative deployment of more than 98,000 pumps
• Tata Power Renewables and ISS India joined hands to promote Clean and
Sustainable Energy Solutions in Facility Management Space. This partnership
shall offer Rooftop and Open Access Solutions including EV Charging Points
for ISS’ India clientele
Powering E-mobility across India
• Tata Power EZ Charge energized 3,778 public and captive EV charging points
across 350 towns and cities, along with 39,000+ home chargers and 234 bus
charging points
• Collaborated with the Indian Army, GAIL, Airport Authority of India- Kolkata,
DLF, Wave, Powergrid Corporation of India Limited to set up EV charging points
at their premises
Powering Top Grade Smart Discom Network in the country
• Tata Power Discoms achieved top grades among Indian Power Utilities in the
11th Annual Integrated Ratings released by the Ministry of Power through the
Power Finance Corporation. Tata Power Mumbai & TP Western Odisha
Discoms rated A+; TPDDL & TP South Odisha Discoms rated A
Total Smart Meter installations crossed 5,10,000 across Tata Power Discoms
in Odisha, Delhi and Mumbai
• Tata Power Delhi Distribution Limited (TPDDL) and Asian Development Bank
(ADB) entered into an agreement to subscribe to non-convertible debentures
for ? 150 crore (equivalent to $18.2 million) to enhance Delhi’s power
distribution through grid enhancements and an additional $2 million grant to
partially finance the purchase and integration of a pilot battery energy storage
system (BESS)
• TPDDL joined hands with Enel Group to power digitalization and automation of
Distribution Network in Delhi
• All four Tata Power Odisha Discoms received IMS Certification: 9001:2015,
14001:2015, 45001:2018
Championing Sustainability across Businesses
• Tata Power partnered with Contour for blockchain-based digital trade finance
network
• Tata Power ESG ratings upgraded -
o Received a BBB ESG rating from MSCI
o Improved Sustainalytics ESG Risk Rating from 41.2 in 2022 to 40.9 in
April 2023
• Around 37.15 lakh lives touched through company’s CSR interventions in FY23
• Tata Power and Tata Elxsi joined hands with the Government of India for digital
platform development under ‘PayAutention’- India’s first Bridgital Autism
Support Network
• Tata Power’s Urja initiative to promote STEM education strengthened local
public institutions through an integrated model. Across India, the initiative has
impacted nearly 250 Govt schools, covering 32,000 students
• Tata Power’s efforts under ‘Adhikaar’ Initiative led to ?180 crore being accessed
through linkages under Govt. schemes benefitting over 6.5 lakh people across
80 districts in 12 states
Awards & Recognition
• S&P Global ratings upgraded Consolidated Credit Rating from BB to BB+
with Stable Outlook
• Tata Power won KPMG India excellence ESG award
• TPDDL became the first Indian utility to be positioned among Top 25 utilities
across the globe in the Smart Grid Index 2022 (conducted by Singapore
Power) that benchmarked 94 utilities across 39 countries / markets
• Mumbai Transmission won “Best Transmission Utility in India” Award from
CBIP
• TPNODL won Gold Award for “Excellence in Change Management” at the
Economic Times Human Capital Awards
Tata Power project “CFIP - Water Inhibitor Cable Jointing Kit” won ‘Bronze
award’ under category ‘Transmission & Distribution Project of the Year’ at
the Asian Power Awards 2022
• TPDDL launched 'Lineman Diwas' - a unique initiative under the aegis of the
Central Electricity Authority to recognise the selfless contribution of linemen
