Power & Infrastructure

Torrent Power

TORNTPOWERNSELarge Cap

Live₹1,711syncing…

Integrated power utility supplying Gujarat industrial belt; potential beneficiary of Dholera/Sanand fab power demand.

Market Cap

₹86.2k cr

Price

1711

1Y 12%

Direct exposure

25/100

0–100 directness

Hold / Watchlist

Fundamental

65/ 100

B+

Quality of growth, returns, cash conversion and balance sheet

Technical (TQ-100)

84/ 100

Trend, momentum, volume and relative strength composite

Valuation

45/ 100

Higher = cheaper vs peers and own history

Final composite

62/ 100

Blended decision input

Data transparency

What's real, what's pending, on this page

Real financials loaded

✓ Real / verified

· Live price, day change, market cap — NSE direct
· 1Y OHLCV, RSI(14), 50/200 DMA, 1M/3M/1Y returns, RS vs Nifty — computed from real NSE OHLCV
· Sector P/E — NSE direct
· Promoter %, pledge %, MF/FII/public split, 9-quarter history — Trendlyne
· Earnings call AI summaries — Trendlyne (where available)
· Technical (TQ-100) score — computed from real OHLCV
· Annual revenue / EBITDA / PAT / OCF / FCF / equity / assets — Trendlyne (audited annuals)

⚠ Analyst-set (qualitative)

· Segment classification + semicon directness score — analyst seed
· Bull/bear case + monitorables (curated thesis) — analyst seed
· Governance risk score (seed) — being replaced by AI-agent assessment
· Synthesized 5Y forecast removed entirely (was inaccurate)

Real financials extracted for 42 of 45 companies. See /data-sources for full provenance.

Torrent Power · TORNTPOWER

₹1,711+1.44% over 6M

Price50 DMA200 DMA

RSI (14)

Momentum oscillator · 6M view

Volume (60D)

Fundamental score (SageOne 100)

65/ 100B+

Growth 20 / Margin 15 / ROC 20 / Cash 15 / Leverage 10 / Reinvestment 8 / Accounting 7 / Governance 5 minus red flags (capped -20).

Base 65

Growth quality/ 20

9.3

Rev 1Y 10.5% · 3Y CAGR 17.3%

Margin & profitability/ 15

9.6

EBITDA 19.3% · PAT 12.6%

Return on capital/ 20

16.9

ROCE 31% · ROE 24%

Cash flow quality/ 15

9.4

OCF/EBITDA 78% · FCF yield 0.3%

Leverage discipline/ 10

2.0

Net Debt/EBITDA 2.40x

Reinvestment runway/ 8

7.2

ROCE × retention proxy

Accounting quality/ 7

6.9

OCF conversion proxy

Governance/ 5

4.1

Pledge 0.0% · Risk 18/100

✓ Computed from real Trendlyne annuals (revenue, EBITDA, PAT, OCF, equity).

Technical score (TQ-100)

84/ 100A

Computed from real 1Y OHLCV pulled from NSE direct: trend, momentum, volume, RS vs Nifty, MA cluster, mean reversion, volatility, patterns minus red flags.

Base 84

Trend structure/ 20

19.5

Above 200DMA · -6% from 52W high

Momentum velocity/ 15

12.8

RSI(14) 52 · 1M 1.0%

Volume dynamics/ 15

12.0

Bucket: Large Cap

Relative strength/ 15

7.0

RS vs Nifty -2%

MA cluster/ 10

10.0

200DMA + 1Y trend confirmation

Mean-reversion runway/ 10

9.0

RSI(14) 52; ideal 50-60

Volatility profile/ 8

6.8

Bucket: Large Cap

Pattern integrity/ 7

7.0

Trend continuation proxy

AI research agents

Re-classify segment exposure and re-assess governance risk by running fresh AI agents on the latest data. Results cache to data/agents.json.

Segment classifier

Maps to value-chain segments + computes 0-100 directness

Seed: Power & Infrastructure · 25/100

Governance assessor

Forensic-accounting flags + 0-100 risk score

Seed: 18/100 risk

AI thesis

Generates a fresh thesis grounded in this company's data. Wires to Anthropic when ANTHROPIC_API_KEY is set, otherwise returns a deterministic mock.

Curated thesis

Analyst-set bull, bear and monitorables · use AI thesis above for a fresh take

Quality utility with semicon-fab power optionality in Gujarat; valuation rich for a regulated business.

Bull case

+Gujarat industrial belt exposure
+Stable utility cash flows
+Renewables ramp

Bear case

−Regulated returns ceiling
−Net debt
−Renewables capex

Key monitorables

Industrial demand growthRenewables executionNet debt trajectory

Semiconductor exposure

How direct, how visible

Primary segment

Power & Infrastructure

All segments

Power & Infrastructure

Exposure type

Ancillary

Policy beneficiary

Possible

Import substitution

Medium / Low

Governance risk score

18/100 (lower = better)

Financial snapshot

Latest reported metrics · mock data, ready for live financials

Rev growth (1Y)

10.5%

Rev CAGR (3Y)

17.3%

EBITDA margin

19.3%

PAT margin

12.6%

ROCE

31%

ROE

24%

OCF / EBITDA

78%

Net Debt / EBITDA

2.4x

Promoter holding

53.6%

Promoter pledge

0.0%

Valuation

P/E (TTM)

27.2

Forward P/E

26.0

EV/EBITDA

19.8

EV/Sales

3.8

P/B

7.2

FCF Yield

0.3%

Dividend Yield

0.50%

Hist. percentile

75%

Peer percentile

70%

Technicals

RSI(14)

1M return

1.0%

1Y return

12%

From 52W high

-6%

RS vs Nifty

-2%

>200 DMA

Yes

Annual financials — real data

Extracted from Trendlyne · audited annuals · TTM + last 6 fiscal years

✓ Real

Line	TTM	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	₹22.8k cr	₹22.6k cr	₹20.4k cr	₹19.3k cr	₹14.0k cr	₹12.0k cr	₹13.7k cr
↳ YoY growth	+0.7%	+10.5%	+6.1%	+37.5%	+16.5%	-12.1%	—
EBITDA	₹5.0k cr	₹4.4k cr	₹4.7k cr	₹3.6k cr	₹3.5k cr	₹3.7k cr	₹3.3k cr
↳ EBITDA margin	22.2%	19.3%	22.8%	18.8%	24.9%	30.5%	24.1%
PAT	₹3.2k cr	₹2.9k cr	₹1.8k cr	₹2.1k cr	₹410 cr	₹1.3k cr	₹1.2k cr
↳ PAT margin	14.2%	12.6%	8.8%	10.9%	2.9%	11.0%	9.0%
OCF	₹4.3k cr	₹3.4k cr	₹3.1k cr	₹3.0k cr	₹2.7k cr	₹3.5k cr	₹2.3k cr
↳ OCF / EBITDA	84.8%	78.5%	66.9%	82.1%	76.7%	94.6%	70.6%
FCF (= OCF − capex)	₹1.4k cr	₹227 cr	₹980 cr	₹469 cr	₹2.1k cr	₹2.4k cr	₹1.1k cr
Total Equity	₹17.5k cr	₹12.0k cr	₹11.0k cr	₹10.0k cr	₹10.3k cr	₹9.2k cr	₹8.9k cr
Total Assets	₹31.7k cr	₹29.2k cr	₹26.0k cr	₹23.6k cr	₹22.8k cr	₹22.9k cr	₹23.8k cr
↳ ROE	18.5%	23.7%	16.3%	21.1%	4.0%	14.4%	13.9%
↳ ROA	10.2%	9.8%	6.9%	8.9%	1.8%	5.8%	5.2%

Source: Trendlyne (Standalone where Consolidated unavailable). Last refresh on real-data ingest.

Promoter pledge & shareholding history

From Trendlyne · 9 quarters · synced Invalid Date

Pledge: 0.0%

Promoter

51.1%

Mutual Funds

15.7%

FII

8.4%

Public

9.3%

Promoter holding trend

53.6

Mar

53.6

Jun

51.1

Sep

51.1

Dec

51.1

Mar

51.1

Jun

51.1

Sep

51.1

Dec

51.1

Mar

Δ:-2.5% over 9 quartersWatch — meaningful dilution

Commentary

·Promoter declined from 53.6% to 51.1% in Sep 2024
·Pledge of 5% existed in Mar 2024 then released — clean since

Management quality

Capital allocation, debt discipline, alignment, governance composite. Computed from disclosed metrics.

Capital allocation

Sustained high return on capital indicates disciplined reinvestment.

ROCE 31%, div yield 0.5%

Promoter holding

Promoter has strong skin in the game.

53.6%

Promoter pledge

No pledging — cleanest signal.

0.0%

Debt discipline

Watch — leverage building.

Net Debt/EBITDA 2.40x

Cash conversion

Reported EBITDA reliably translates into cash.

OCF/EBITDA 78%

Governance composite

Clean governance signals across pledging, RPTs, auditor, KMP pay.

18/100 risk

Variant perception

What the market is pricing in versus our read, and what would invalidate the thesis.

What the market is pricing in

Continued execution and policy tailwinds. The market has rewarded Torrent Power for delivery and is paying a premium for what comes next.

What we think it's missing

Consensus appears reasonable. Look for thesis-changing catalysts (margin inflection, new customer wins, segment mix shift) rather than narrative re-rating alone.

Thesis killers

×Leverage surprise — capex overrun without corresponding revenue ramp
×Multiple compression on a single weak earnings print

References

Wire to live data sources in production

NSE filings Screener BSE corporate filings Annual report (latest)Concall transcript (latest)Investor presentation