Sharekhan's research report on Tata Power Company
Tata Power hosted an analyst meet at its 4.3GW cell and module manufacturing facility at Tirunelveli, Tamil Nadu. Company aims to increase PAT (before minority) to Rs. 10,000 crore in FY30, a 2.5x growth over FY24. Capex of Rs. 1.46 lakh crore is estimated from FY25-30 with 60% to be spent in the renewable business and 27% in transmission & distribution.
Outlook
Tata Power has a well-planned strategy to shift towards clean energy and targets for 2.5x rise in PAT by FY2030E over FY2024. We maintain a Buy on Tata Power with an unchanged PT of Rs. 540 on an SOTP basis.
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