Ahmedabad: Torrent Power Limited (the “Company”) today announced financial results for the quarter ended June 30, 2026.
The company delivered EBITDA growth of 2% during the quarter, despite a challenging operating environment marked by geopolitical disruptions, which affected LNG supplies and, consequently, performance of its thermal power plants. This performance was supported by strong contribution from its Distribution and Renewable Energy businesses, which recorded EBITDA growth of 10% and 6%, respectively. Total Comprehensive Income (TCI) was impacted by financing costs associated with strategic investments in its under-construction portfolio that is expected to support future growth.
Key factors influencing performance were:
- 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 during the previous year.
- Higher finance costs resulting from increased borrowings for investments in under construction assets.
Key developments during the Quarter:
- Acquisition of Nabha Power Limited
On February 16, 2026, the Company signed a Securities Purchase Agreement with L&T Power Development Limited, a wholly owned subsidiary of Larsen & Toubro Limited, to acquire 100% equity shares and convertible instruments of Nabha Power Limited (NPL). The acquisition was consummated on June 25, 2026, for a consideration of ₹3,632.35 Crore, making NPL a wholly-owned subsidiary of the Company. NPL operates a 2×700 MW coal-based supercritical thermal power plant in Punjab and supplies power under long-term Power Purchase Agreements with Punjab State Power Corporation Limited.
About Torrent Power:
Torrent Power, the ₹ 28,966 Crs integrated power utility of approx. ₹ 50,000 Crs Torrent Group, is one of the largest companies in the country’s power sector with presence across the entire power value chain – generation, transmission and distribution.
Generation:
- The Company has an aggregate installed generation capacity of 6.6 GWp comprising of 2.7 GW of gas-based capacity, 2.1 GWp of renewable capacity and 1.8 GW of coal-based capacity. Further, Renewable projects of ~4.2 GWp, Pumped Storage Capacity of 3 GW and coal-based power capacity of 1.6 GW are under development. Total Generation and Pumped Storage capacity, including projects under development, is ~12.3 GWp and 3 GW respectively, positioning Torrent Power as a key player in India’s energy transition.
Distribution:
- The Company distributes nearly 31 billion units to around 4.29 million customers in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD), Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.
- Torrent Power is widely considered to be the leading power distributor in India, and its licensed areas in Gujarat has the distinction of having the lowest distribution losses and best reliability indices in the country, reinforcing customer trust and satisfaction.
