Torrent Power Limited (the “Company”) today announced financial results for the quarter and six months ended September 30, 2026.
Company delivered strong operational performance during the quarter, resulting in adjusted EBITDA growth of 29% during the quarter, driven by robust performance across its distribution and renewable energy businesses, along with consolidation of Nabha Acquisition. Adjusted EBITDA includes impact of ₹54 Crs of principal recovery relating to Nabha acquisition, recognised in the balance sheet in line with applicable lease accounting principles.
Company reported strong financial growth in Q2 FY 2026-27, with revenue from operations rising 24% to ₹9,801 crore from ₹7,876 crore in the corresponding quarter last year.
EBITDA increased 26% to ₹1,988 crore, while Total Comprehensive Income grew 14% to ₹835 crore. For the first half of FY 2026-27, revenue rose 14% to ₹17,926 crore, EBITDA increased 14% to ₹3,606 crore, and Total Comprehensive Income stood at ₹1,474 crore, compared to ₹1,469 crore in the same period last year.
Company reported incremental TCI of ₹105 Crs for the quarter, primarily attributable to:
Improved operational performance across the Company’s distribution businesses.
Improved performance of renewable portfolio, driven by higher plant load factors and contribution of projects commissioned.
Increase in contribution due to acquisition of Nabha.
Higher finance costs resulting from increased borrowings.
Torrent Power, with a revenue of ₹28,966 crore, is an integrated power utility of the approximately ₹50,000 crore Torrent Group. It is one of India’s largest companies in the power sector, with a presence across the entire power value chain, including generation, transmission and distribution.
Generation
The company has an aggregate installed generation capacity of 6.8 GWp, comprising 2.7 GW of gas-based capacity, 2.3 GWp of renewable capacity and 1.8 GW of coal-based capacity.
Additionally, renewable energy projects of approximately 4.3 GWp, pumped storage capacity of 3 GW and coal-based power capacity of 1.6 GW are under development.
Including projects under development, Torrent Power’s total generation and pumped storage capacities stand at approximately 12.7 GWp and 3 GW, respectively, positioning the company as a key player in India’s energy transition.
Distribution
Torrent Power distributes nearly 31 billion units of electricity to around 4.29 million customers across Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat; the Union Territories of Dadra and Nagar Haveli and Daman and Diu; Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra; and Agra in Uttar Pradesh.
The company is widely considered one of India’s leading power distributors. Its licensed areas in Gujarat have some of the lowest distribution losses and best reliability indices in the country.
