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ICICI Securities Report
We attended Tata Power Company Ltd.’s analyst meet during which the company highlighted the growth strategy for its several businesses over FY23-FY27.
Tata Power has a clear focus toward clean and green growth as evident from the fact that 80% of the estimated Rs 1 trillion capex over FY23-FY27 will be on green businesses.
With this, the company aims to grow its revenue and profit after tax three times and four times from the FY22 levels of Rs 426 billion and Rs 23 billion respectively, and simultaneously improve shareholder returns.
Apart from the five-year green business targets to improve its leadership positions (helped by the receipt of Rs 20 billion from Tata Power Renewable Energy Ltd. stake sale), we expect Tata Power to be among the key players in the transmission and distribution space, participating in upcoming discom privatisation as well as transmission tariff-based competitive bidding bids.
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