Tata Power is a power generating company, which is a part of Tata Group. Tata Power is India's largest integrated private power utility company. The company is present across the entire power business spectrum, from generation (thermal, hydro, solar and wind) to transmission and distribution.
Credit Rating- Long-term Rating AA with stable outlook and short-term rating as A1+ by CRISIL
Financials
Parameters | Q1FY22 | Q1FY21 | Q4Y21 |
Total Income | 101.46 | 65.4 | 102.22 |
EBITDA | 23.65 | 20.37 | 16.68 |
PAT | 4.66 | 2.68 | 4.4 |
Net Debt | 388.98 | 400.99 | 359.46 |
Net Debt to Equity | 1.57 | 1.21 | 1.42 |
Net Debt to EBITDA | 4.15 | 4.44 | 4.06 |
Tata Power bond traded levels
Date | ISIN | Coupon(%) | Yield(%) | Maturity | Call Date |
05-Aug-21 | INE245A08042 | 10.8 | 7.90 | 21-Aug-72 | 21-Aug-22 |
02-Aug-21 | INE245A08042 | 10.8 | 8.60 | 21-Aug-72 | 21-Aug-22 |
30-Jul-21 | INE245A08042 | 10.8 | 8.97 | 21-Aug-72 | 21-Aug-22 |
29-Jul-21 | INE245A08042 | 10.8 | 8.32 | 21-Aug-72 | 21-Aug-22 |
27-Jul-21 | INE245A08042 | 10.8 | 8.02 | 21-Aug-72 | 21-Aug-22 |
26-Jul-21 | INE245A08042 | 10.8 | 8.65 | 21-Aug-72 | 21-Aug-22 |
23-Jul-21 | INE245A08042 | 10.8 | 8.65 | 21-Aug-72 | 21-Aug-22 |
22-Jul-21 | INE245A08042 | 10.8 | 8.45 | 21-Aug-72 | 21-Aug-22 |
20-Jul-21 | INE245A08042 | 10.8 | 8.70 | 21-Aug-72 | 21-Aug-22 |
Established brand name-Tata Power has been recognized as a flagship company of prestigious Tata Group. It helps Tata Power to access capital market and financial institutions at a reasonable rate. Tata Sons has a 45.2% shareholding in Tata Power.
Diversified business segments-Tata Power had around 10,800-megawatt (MW) capacity as on March-2021 including its thermal and clean energy generation businesses that include around 2,600 MW of renewable energy.
Stable financial performance- Net profit remained stable at Rs 4.66 billion during Q1FY22 as compared to Rs 4.4 billion in Q4FY21. It rose 74% on yearly basis. EBITDA increased by 41.78% on a yearly basis. Net debt to EBITDA stood at 4.15 times as of 30th June 21 as compared to 4.44 times as of 30th June 2020.
Moderate Leverage- Tata Power’s net debt to equity stood at 1.57 times at a consolidated basis as of 30th June 2021 as compared to 1.42 times as of 31st March 2021. Net debt reduced to Rs 389 billion as of 30th June 2021 from Rs 401 billion as of 30th June 2020.
Liquidity-Liquidity remains strong, driven by expected net cash accrual of over Rs 47 billion in FY22, while cash balance stood at Rs 72.25 billion as of March-2021. Repayment of long-term debt of Rs 46.90 billion in FY22 is expected to be partly refinanced by the company's cash flow generation. (Source-CRISIL)