Tata Power Q3 Results: EBITDA **12%** bhaga! Renewables ne kiya kamaal, Mundra plant ki bhi update!

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AuthorAarav Shah|Published at:
Tata Power Q3 Results: EBITDA **12%** bhaga! Renewables ne kiya kamaal, Mundra plant ki bhi update!
Overview

Arre wah! Tata Power ke investors ke liye aaj ka din toh ekdum zabardast raha. Company ne Q3 FY'26 mein apna EBITDA **12%** tak badha diya hai, jo ab **₹3,913 crore** ho gaya hai. Yeh growth primarily unke new energy projects aur Discoms se aa rahi hai.

Aakhir FY'26 ke Q3 mein hua kya?

Company ke consolidated EBITDA mein 12% ki saal-dar-saal badhotri hui hai aur yeh ₹3,913 crore par pahunch gaya hai. Revenue of operations ₹14,485 crore raha, jo ki 4% kam hai, iska reason mainly Mundra plant ki situation thi. Agar quarterly Profit After Tax (PAT) ki baat karein toh woh 1% badhkar ₹1,194 crore hua hai. Aur pichhle 9 mahine (9M FY'26) mein, PAT 7% badhkar ₹3,702 crore tak pahunch gaya hai.

Profit kaise itna badha? Renewables ka jaadu!

Is baar company ke new energy business ne toh kamaal hi kar diya! Solar cell aur module manufacturing ka PAT 124% tak badha hai, aur rooftop solar mein bhi 85% ki growth dikhi hai. Udhar, Odisha Discoms ka PAT toh 163% upar chala gaya! Ye sab positive numbers, Mundra plant se aaye ₹800 crore ke PAT loss ko bhi cover karne mein help kar rahe hain (jo ki 9 mahine mein hua hai). Aur haan, Delhi Discoms se ek regulatory true-up ka fayda mila jisne EBITDA mein ₹460 crore ka addition kiya.

Aage kya hone wala hai?

Management ne kaha hai ki Mundra plant ka issue finally solve hone wala hai aur February 2026 tak wapas start ho jayega. Company ka plan hai ki FY'27 tak woh 2.5 GW renewable capacity aur jodenge, aur shayad 3 GW tak bhi pahunch jayein. Distribution sector mein bhi agle 6-9 mahine mein kaafi opportunities dikh rahi hain. Capital expenditure (CAPEX) saal bhar mein ₹15,000-25,000 crore ke beech rehne ka anuman hai.

Risks aur Future View

Mundra plant ka timely restart bahut zaroori hai taki financial problem kam ho sake. Renewables ka target achieve karna aur distribution sector ke regulations mein manage karna bhi ek challenge rahega. Company ka Net Debt to EBITDA ratio abhi 3.4x hai aur Net Debt to Equity 1.2x hai, toh financials controlled lag rahe hain.

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