Tata Power Company Limited · NSE:TATAPOWER
Tata Power — The Tata Power Company — Q4 FY26 Earnings Presentation
69 slides from Tata Power's earnings presentation, May 12, 2026
Slide 1: The Tata Power Company Limited (TPCL) Financial Results Q4 FY26
The Tata Power Company Limited (TPCL) FINANCIAL RESULTS – Q4 FY26 12th May 2026
Slide 2: Disclaimer
Disclaimer This document does not constitute or form part of and should not be construed as a prospectus, offering circular or offering memorandum or an offer to sell or issue or the solicitation of an offer to buy or acquire securities of the Company or any of its subsidiaries or affiliates in any
Slide 3: Agenda
Agenda 04 About Tata Power 09 Sustainability: Manifesting a Greener Tomorrow 21 Industry Highlights 27 Business Highlights 41 Operational & Financial Highlights 47 Annexures 66 What sets us Apart
Slide 4: The Tata Power story
The Tata Power story
Slide 5: India's largest vertically-integrated power company
India’s largest vertically-integrated power company Generation New-age Energy Solutions Generation ~26.3 GW ~17.5 GW ~8.9 GW Total Capacity Clean & Green Energy Thermal energy generation (Operational + Under construction) (Including 9.6 GW Under Construction) (Installed capacity) Transmission Distri
Slide 6: Assets located outside India
Assets located outside India Bhutan, Dagachhu Georgia, Adjaristsqali 126 MW 26% 187 MW 50% Installed capacity TPCL stake 1,125 MW 40% Bhutan, Dorjilung Pipeline capacity TPCL stake Installed capacity TPCL stake Bhutan, Khorlochhu 600 MW 40% Under-construction TPCL stake Indonesia Coal Mines 78 MT Za
Slide 7: Clean & Green to account for ~66% capacity post project completions
Clean & Green to account for ~66% capacity post project completions Current Operational Capacity share Tata Power Capacity (%) (IN MW) 3% 1,612 26,347 7% 2,800 5% Thermal 5% 2,447 Solar 1,725 16.7 Hydro 434 612 GW 53% Wind 1,110 16,716 880 443 27% Hybrid 846 WHRS* 4,577 8,860 Total Capacity incl. pi
Slide 8: Financial performance consistently improving over the years
Financial performance consistently improving over the years Revenue (in ₹ Cr) EBITDA (in ₹ Cr) Underlying EBITDA (in ₹ Cr) 63,681 16,090* 16,798** FY26 FY26 FY26 16,090 16,798 63,681 64,502 14,468 15,261 61,542 12,701 13,878 56,033 10,068 13,268 42,576 8,192 10,134 Reported PAT^ (in ₹ Cr) ROE (%) EP
Slide 9: Sustainability: At the core of all that we do
Sustainability: At the core of all that we do Water Zero Waste Net Zero Neutral to Landfill By 2045 By 2030 By 2030 9 tatapower.com tatapower.com
Slide 10: Our sustainability aspirations
Our sustainability aspirations E Become Net Zero Become Water Zero Waste to Landfill No Net Loss to Leverage technology to by 2045 Neutral by 2030 by 2030 Biodiversity by 2030 create the 'Utility of the Future’ (IOT, Smart Grids, BESS, Green H2, robotic panel cleaning, SMR etc.) S Employability and
Slide 11: Taking leaps towards our ESG goals
Taking leaps towards our ESG goals Bas el i ne Progres s Target Pa rti cul ars Des cri pti on On goi ng acti ons Val ue Year Val ue Year Val ue Year • ~ 46% Clean and Green Capacity Clean & Green portfolio 16%* 2015 46% 2026 70% 2030 • ~ 66% Clean and Green Capacity, post project completions Net Zer
Slide 12: Achieving 100% Clean & Green power generation by 2045
Achieving 100% Clean & Green power generation by 2045 2015 2025 2030 2045 Largely a coal-based company, Transitioning towards a Clean & Green capacity will Transition away from thermal having capacities to fulfil the clean and green portfolio account for at least 70% of our portfolio in 2045* as Pow
Slide 13: ESG Ratings FY26 Update
ESG Ratings FY26 Update 2025-26 2024 2023 2022 2021 2020 2019 CDP – Climate Change B B C C D B* B- B B B C F CDP – Water S&P - CSA 77 68 67 67 67 - 48 (Higher score is better) A A BBB BBB BB BB BB MSCI 40.2 37.4 38.5 41.2 38.6 - - Sustainalytics (Lower score is better) *Dates of published ratings: C
Slide 14: Powering Biodiversity Conservation
Powering Biodiversity Conservation Pan-India Biodiversity Action Plans Across all locations in 21 States including Thermal, Hydro, T&D and RE Gaja Sanrakshana, Odisha Mitigate human–elephant conflict | Expanded geographic coverage to 21 forest ranges Act for Mahseer, Maharashtra 55+ yrs | 1.5M fish
Slide 15: Empowering Communities & Community Institutions
Empowering Communities & Community Institutions 52.23 25.83 lakhs (FY26) Outreach Lakhs Reaching out by Strengthening AA Beneficiaries Community Institutions 125+ Pay Autention Club Enerji Regions in 21 states CSR Mission To work with communities in our neighborhoods & specially identified regions t
Slide 16: Tata Power Community Development Trust (TPCDT)
Tata Power Community Development Trust (TPCDT) Strategic Focus Areas Neighborhoo ds & State- level 1 State-wise Approach Integrations Propel unified, marquee projects in sync with state-level TP Group Business Clusters Entities Cross- Pan-India influences & business presence functional Marquee State
Slide 17: Thought Leadership for Social Inclusivity
Thought Leadership for Social Inclusivity Marquee Initiatives & Key Alliances: • Partnership with Commissionerate of Differently Abled, Govt. Of Tamil Nadu for capability building at across all Tamil Nadu One stop Autism Care center • Collaboration with Tata Institute of Social Sciences, Kolkata Sa
Slide 18: Institutional Structures and Systems
Well-established structure to monitor Sustainability Goals Our CSR and Sustainability Committee at the Board level guides the strategy, and the Apex Leadership Team enables its impactful implementation Leadership and Oversight on Sustainability Advocacy Leadership Initiatives that are based with car
Slide 19: Robust Governance Structure in place
Robust Governance Structure in place Governance policies Audit Committee ✓ Tata Code of Conduct ✓ Code of Conduct for Independent Directors ✓ Code of Conduct for Non-Executive Directors Nomination and ✓ Related Party Transactions Policy, Framework & Guidelines Remuneration Committee ✓ Whistle Blower
Slide 20: Awards & Recognition
Awards & Recognition Leadership Panel on Climate Change at E-Sanidhya (powered by NIEPID & Pay Autention) Shared best practice on TNFD adoption at Tata Power ranked #1 in the Energy World Sustainable Development Summit - Powering the neurodiversity ecosystem was Train the Trainer conducted jointly b
Slide 21: Industry Highlights
Industry Highlights 21
Slide 22: Power Demand up 2% YoY in Q4 FY26
Power Demand up 2% YoY in Q4 FY26 India has one of the lowest power Ratio of Power Generation Monthly Energy Demand Coal-based plants' PLF % consumption per capita Growth to GDP growth above (IN BUs) (IN %) (IN KW H) 1.0x in the past 5 years 180 25% 30,000 85% 7% 1.2x 160 20% 80% 25,000 140 6% 1.1x
Slide 23: Clean & Green accounted for 88% of Capacity additions in Q4 FY26
Clean & Green accounted for 88% of Capacity additions in Q4 FY26 Total Installed Capacity in India ~19 GW added in Q4FY26 ~58 GW added in FY26 Renewables (incl. Hydro) added currently stands at 533 GW (IN GW) (IN GW) 55 GW in FY26 (IN GW) (IN %) 10.0 Thousands 9.0 9 0.6 1% 12 8.0 0.2 3% 3% 6% 2% 2%
Slide 24: Cell & Module Prices Rebound from Lows; Indonesian Coal prices increases
Cell & Module Prices Rebound from Lows; Indonesian Coal prices increases Price Movement of Polysilicon & Price Movement* of Solar Cell & Thermal Coal Prices (US$/t) Wafer Module 0.3 470 42 1.6 0.25 400 35 1.2 0.2 330 28 0.15 260 21 0.8 0.11 14 0.1 190 6.51 0.4 0.05 134 7 0.05 120 0.14 103 0 0 0 50 M
Slide 25: FY26 RE Auctions dominated with Storage bids
FY26 RE Auctions dominated with Storage bids Minimum e-reverse auction tariff’s in FY26 Renewable energy auction volumes (₹/kWh) (GW) 60 8 50 6 40 4 30 20 2 10 0 0 FY20 FY21 FY22 FY23 FY24 FY25 FY26 FY21 FY22 FY23 FY24 FY25 FY26 Solar Wind Hybrid Solar Wind Storage FDRE Hybrid (S+W)* S+ESS ** Hybrid
Slide 26: T&D Gains Momentum in FY26
T&D Gains Momentum in FY26 ₹9.2 tn transmission Capex anticipated in India All India AT&C losses (%) declined to 15% in FY25 between FY25-32E 26.6 25.7 25.5 23.7 23.7 22.6 22.3 21.6 21.5 20.7 Intra-State, 16.4 16.3 15.1 15.0 ₹2.7 tn Inter-State Transmission System Intra-State Transmission System Int
Slide 27: Business Highlights
Business Highlights 27
Slide 28: Q4 FY26: Key Highlights
Q4 FY26: Key Highlights Key Highlights Mundra SPPA signed in Mar’26 Fully commissions SEUPPTCL with Gujarat, plant resumes transmission line of 1,521 CKm, First disbursement of ₹500 Cr Installed more than Rooftop business achieved record completed from PFC for the 600 operation from 1st April-26 add
Slide 29: Solar Cell and Module Manufacturing – Industry Leading Plant Yield
Solar Cell and Module Manufacturing – Industry Leading Plant Yield Module Manufacturing (MW) 990 970 Highlights 949 926 915 • Achieved production of 915 MW modules and 964 MW cells during Q4 FY26 880 871 • Industry leading plant yield of >95% Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 Q3FY26 Q4FY26 • R
Slide 30: Solar Rooftop – Record Execution of 1.7 GWp in FY26
Solar Rooftop – Record Execution of 1.7 GWp in FY26 3 rd Party Rooftop Order Book Revenue of 3rd Party Rooftop (In ₹ Cr) (In ₹ Cr) Q4 FY26 1,732 1,732 1,456 Q3 FY26 1,075 1,174 Q4 FY25 864 898 Order Book at Orders received Q4 reported Order Book at the end of Q3 in Q4 revenue the end of Q4 FY26 FY26
Slide 31: Odisha Discoms – Highlights
Odisha Discoms – Highlights STRONG AT&C Losses reduced by 2% in OPERATIONAL FY26 vs prior period PERFORMANCE ACROSS Strong Financial ALL DISCOMS Performance Smart Meters REDUCING AT&C LOSSES => EBITDA (INR Cr) Installed till PROMISING GROWTH Date (Excl. past arrears) 2,909 40% 2,081 FY26 18.0% TPCOD
Slide 32: Strong Pipeline of Hybrid/FDRE Projects
Generation - Tata Power has Strong Pipeline of Hybrid/FDRE Projects SJVN 460MW* NTPC 200MW* MSEDCL 400MW* PH SJVN RTC 88MW* Tata Power Mumbai FDRE FDRE IV Hybrid DISCOM 80 MW* Tariff (₹/unit) 4.38 4.71 3.60 4.91 4.77 e-RA date 7 Nov 2023 22 Mar 2024 16 Aug 2024 27 Feb 2025 19 Aug 2025 Installed capa
Slide 33: MoU with Druk Green Power to develop 5.5 GW clean energy projects in Bhutan
MoU with Druk Green Power to develop 5.5 GW clean energy projects in Bhutan 364 MW 1,125 MW 15 GW 600 MW Bhutan’s vision 2040 for hydro Bhutan Existing hydro 5 GW station Khorlochhu Chamkharchhu IV Proposed Hydro HPP Bhutan’s vision 2040 for solar 740 MW HPP Power Plants (HPP) 404 MW Dorjilung Poten
Slide 34: Construction Activities in Progress at 600 MW Khorlochhu HPP, Bhutan
Construction Activities in Progress at 600 MW Khorlochhu HPP, Bhutan Khorlochhu Hydro Power project details 600 MW 1.12% Total project capacity Aux power consumption 40% >95% Tata Power Stake Availability 90.6% 48% Average TG efficiency Plant load factor 752 M 145 Km Minimum head Transmission line (
Slide 35: Dorjilung HPP Bhutan | 1,125 MW | Financing Agreement Signed
Dorjilung HPP Bhutan | 1,125 MW | Financing Agreement Signed Dorjilung Hydro Power Project 1,125 MW ~4,750 MUs Total project capacity Design Energy Kurichhu Run-of-River River Type 40% 80% Tata Power Tata Power Stake Off taker World Bank ~6,350 Financial assistance to project Employment during const
Slide 36: Energy Storage - Pumped Storage Hydro Plants - Project Update
Energy Storage- Pumped Storage Hydro Plants - Project Update SHIRWATA PSP BHIVPURI PSP Key Highlights Key Highlights 1,000 MW 1,800 MW Type Type Existing Off-stream Off-stream Upper Reservoir Upper Reservoir Thokarwadi ~348 MCM New -15 MCM (million cubic meters) Lower Reservoir Lower Reservoir Exist
Slide 37: Bhivpuri Pumped Storage Hydro Plants - Project Update
Energy Storage- Bhivpuri Pumped Storage Hydro Plants - Project Update Powerhouse Geomembrance Faced Rockfill Dam Bhivpuri PSP Project – 1,000 MW • The upper reservoir has already been constructed • The project land is fully owned by the company, facilitating smoother Environmental Clearance (EC) and
Slide 38: Transmission – Updates on TBCB projects
Transmission – Updates on TBCB projects Year Project Tata Power Stake Transmission Line Commissioning FY 2028 Jejuri Hinjewadi Power 100% 226 Ckt Kms FY 2028 Transmission Limited Gopalpur Transmission 100% 377 Ckt Kms FY 2028 Limited Paradeep Transmission 100% 384 Ckt Kms FY 2028 Limited FY 2027 Bik
Slide 39: T&D Business – Robust PAT Growth
T&D Business – Robust PAT Growth (In ₹ Cr) Odisha DISCOM’s Mumbai Transmission 463 809 303 318 316 439 227 197 308 236 253 FY 22 FY 23 FY 24 FY 25 FY26 FY 21 FY 22 FY 23 FY 24 FY 25 FY26 TPDDL (Delhi Distribution) Mumbai Distribution 1,299 240 223 209 842 183 162 147 428 439 440 453 FY 21 FY 22 FY 2
Slide 40: Tata Power – EZ Charge
Tata Power – EZ Charge Cities and towns covered Public and Captive Charging Points 706 5,804 641 5,488 5,488 555 541 430 3,778 1,128 FY22 FY23 FY24 FY25 FY26 FY22 FY23 FY24 FY25 FY26 Home Chargers Bus Charge Points 2,14,061 1,238 1,248 858 1,36,777 86,086 38,899 234 13,107 84 FY22 FY23 FY24 FY25 FY2
Slide 41: Operational & Financial Highlights
Operational & Financial Highlights
Slide 42: Q4 FY26 Operational Highlights
Q4 FY26 Operational Highlights Generation - Availability Plant Load or Capacity Utilization Factor AT&C Losses - Distribution IN % IN % IN % 75 73 73 99 98 98 98 100 100 100 66 18.5 95 92 17.5 Temporarily suspended operations 84 85 Temporarily suspended operations 15.5 79 78 34 31 30 since July, 202
Slide 43: FY26 Operational Highlights
FY26 Operational Highlights Generation - Availability Plant Load or Capacity Utilization Factor AT&C Losses - Distribution IN % IN % IN % 99 100 100 74 17.5 98 98 73 93 15.5 87 89 65 80 39 40 7.8 5.4 5.4 21 23 4.3 20 19 23 18 0.9 -0.4 Thermal Mundra MO Hydro WIND SOLAR SOLAR MO- TPADL Thermal Mundra
Slide 44: Financial Highlights – Q4 FY26
Financial Highlights – Q4 FY26 (In ₹ Cr) Consistent PAT Growth Revenue EBITDA* Underlying EBITDA -7.9% - 10.1% (including share of JVs and Associates) 14.2% 10.2% 8.6% Q4 FY26 15,962 Q4 FY26 4,216 7.7% Q4 FY26 4,466 Q3 FY26 14,485 Q3 FY26 3,913 Q3 FY26 4,111 Q4 FY25 17,328 Q4 FY25 3,829 Q4 FY25 3,91
Slide 45: Financial Highlights – FY26
Financial Highlights – FY26 (In ₹ Cr) Resilient Financial Performance Revenue EBITDA* Underlying EBITDA -1.3% 11.2% (including share of JVs and Associates) 10.1% FY26 63,681 FY26 16,090 FY26 16,798 FY25 64,502 FY25 14,468 FY25 15,261 *Reported EBITDA includes other income PAT Reported PAT Net Debt (
Slide 46: Comfortable Debt Position For Sustainable Growth
Comfortable Debt Position For Sustainable Growth Net Debt Net Debt has increased Q-o-Q due to higher capex and WC requirements (IN ₹ Cr) (IN ₹ Cr) Q4 FY26 56,122 56,074 3,507 0 50 215 56,122 1,359 Q3 FY26 56,074 52,351 -3,299 -225 -1,558 Q4 FY25 44,672 Balance Sheet continues to be strong Cash From
Slide 47: Annexures
Annexures 47 tatapower.com tatapower.com
Slide 48: Entity-wise Consolidated Performance – Q4 FY26
Entity-wise Consolidated Performance – Q4 FY26 ₹ Crore unless stated Op Income EBITDA^ PAT Particulars Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Consolidated before exceptional items 15,962 17,328 4,216 3,829 1,510 1,288 Standalone & Key Subsidiaries Tata Power (Standalone) 2,872 5,756 960 1,215 334
Slide 49: Entity-wise Consolidated Performance – FY26
Entity-wise Consolidated Performance – FY26 ₹ Crore unless stated Op Income EBITDA^ PAT Particulars FY26 FY25 FY26 FY25 FY26 FY25 Consolidated before exceptional items 63,681 64,502 16,090 14,468 5,212 5,197 Standalone & Key Subsidiaries Tata Power (Standalone) 12,969 21,288 4,369 6,905 1,125 3,133
Slide 50: Cluster-wise Consolidated Performance – Q4 FY26
Cluster-wise Consolidated Performance – Q4 FY26 ₹ Crore unless stated Op Income EBITDA PAT Particulars Q4FY26 Q4FY25 Q4FY26 Q4FY25 Q4FY26 Q4FY25 Consolidated before exceptional items 15,962 17,328 4,216 3,829 1,510 1,288 Thermal Generation, Coal and Hydro 2,434 5,288 507 1,073 162 626 Maithon Power
Slide 51: Cluster-wise Consolidated Performance – FY26
Cluster-wise Consolidated Performance – FY26 ₹ Crore unless stated Op Income EBITDA^ PAT Particulars FY26 FY25 FY26 FY25 FY26 FY25 Consolidated before exceptional items 63,681 64,502 16,090 14,468 5,212 5,197 Thermal Generation, Coal and Hydro 11,636 19,739 2,263 4,183 490 2,583 Maithon Power Limite
Slide 52: Tata Power (Consolidated) Financial Performance
Tata Power (Consolidated) Financial Performance ₹ Crore unless stated Particulars Q4 FY26 Q4 FY25 Var FY26 FY25 Var Quarter Variance Remarks Operating Income 15,962 17,328 (1,366) 63,681 64,502 (821) Operating Expenses 12,301 13,850 1,549 49,334 51,548 2,215 Operating Profit 3,661 3,478 183 14,347 1
Slide 53: Tata Power (Standalone) Financial Performance
Tata Power (Standalone) Financial Performance ₹ Crore unless stated Particulars Q4FY26 Q4FY25 Var FY26 FY25 Var Quarter Variance Remarks Operating Income 2,872 5,756 (2,884) 12,969 21,288 (8,319) Operating Expenses 2,205 4,748 2,543 10,443 16,873 6,431 Operating Profit 667 1,008 (341) 2,526 4,415 (1
Slide 54: Maithon Power Limited - Highlights
Maithon Power Limited - Highlights ₹ Crore unless stated Particulars Q4 FY26 Q4 FY25 Var FY26 FY 25 Var Quarter Variance Remarks Generation (MUs) 1,781 1,780 1 6,894 7,253 (359) Sales (MUs) 1,810 1,738 72 6,934 7,138 (204) Availability (%) (Plant) 96% 83% 13% 92% 87% 5% PLF (%) 79% 79% 0% 75% 79% (4
Slide 55: Prayagraj Power Generation Co. Ltd. - Highlights
Prayagraj Power Generation Co. Ltd. - Highlights ₹ Crore unless stated Particulars Q4 FY26 Q4 FY25 Var FY26 FY25 Var Quarter Variance Remarks Generation (MUs) 3,231 3,215 15 12,870 12,987 (117) Sales (MUs) 3,056 3,040 16 12,142 12,256 (115) Availability (%) 96% 87% 9% 91% 87% 4% Higher availability
Slide 56: Tata Power Delhi Distribution Ltd. - Highlights
Tata Power Delhi Distribution Ltd. - Highlights ₹ Crore unless stated Particulars Q4 FY26 Q4 FY25 Var FY26 FY25 Var Quarter Variance Remarks Purchase (MUs) 2,343 2,176 167 11,585 11,435 150 Sales (MUs) 2,239 2,068 171 10,981 10,807 174 AT&C losses (%) 5.4% 5.5% 0% 5.4% 6.0% (1%) Financials Operating
Slide 57: Odisha Discoms – Highlights
Odisha Discoms – Highlights ₹ Crore unless stated TPCODL TPSODL TPWODL TPNODL Total Particulars Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q4 FY26 Q4 FY25 Q4FY26 Q4FY25 Q4FY26 Q4 FY25 Purchase (MUs) 2,583 2,553 1,071 1,097 2,937 2,852 1,785 1,653 8,376 8,155 Sales (MUs) 2,158 2,131 914 852 2,528 2,415 1,623 1,
Slide 58: RE Generation - Highlights
RE Generation - Highlights ₹ Crore unless stated Particulars Q4 FY26 Q4 FY25 Var FY26 FY25 Var Quarter Variance Remarks Capacity - Total (MW) 6,509 5,540 968 6,509 5,540 968 Added 406 MW capacity in the quarter Capacity - Wind (MW) 1,235 1,030 205 1,235 1,030 205 Capacity - Solar (MW) 5,273 4,510 76
Slide 59: Solar EPC – Highlights
Solar EPC* – Highlights ₹ Crore unless stated Particulars Q4FY26 Q4FY25 Var FY26 FY25 Var Quarter Variance Remarks Operating Income 2,208 3,110 (903) 9,796 10,043 (247) -Large projects & Group Captive 480 2,246 (1,766) 5,037 7,833 (2,796) 583 MW of utility scale project execution -Solar Rooftop 1,72
Slide 60: TP Solar (4.3 GW Cell & Module Plant) – Highlights
TP Solar (4.3 GW Cell & Module Plant) – Highlights ₹ Crore unless stated Particulars Q4FY26 Q4FY25 Var FY26 FY25 Var Quarter Variance Remarks Module produced (MW) 915 879 36 3,825 3,291 534 Module yield of 96% Module sold (MW) 866 913 (47) 3,820 3,241 579 Cell produced (MW) 964 650 314 3,759 846 2,9
Slide 61: Renewables – Consolidated View
Renewables – Consolidated View ₹ Crore unless stated Key Parameters - Renewables Q4 FY26 Q4 FY25 FY26 FY25 Revenue 4,003 3,457 15,028 9,876 EBITDA 1,449 1,372 6,228 4,317 PAT (before exceptional items) 406 469 1,994 1,256 Net Debt 30,501 27,585 30,501 27,585 Net Worth 15,824 13,501 15,824 13,501 61
Slide 62: Regulated Equity
Regulated Equity ₹ Crore unless stated Particulars Q4FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 -Generation Mumbai Generation 1,741 1,737 1,736 1,736 1,425 Jojobera 674 626 551 551 551 Maithon Power Limited (100%) 1,657 1,665 1,665 1,665 1,643 Industrial Energy Limited (100%) 758 724 724 723 723 -Transmis
Slide 63: Regulated Assets
Regulated Assets ₹ Crore unless stated Particulars Q4 FY26 Q3 FY26 Q2 FY26 Q1 FY26 Q4 FY25 -Generation Mumbai Generation 1,393 1,329 1,340 779 834 Jojobera 49 38 38 33 32 Maithon Power Limited (100%) (219) (214) (192) (202) (326) -Transmission Mumbai Transmission 1,504 1,479 1,553 1,637 1,711 -Distr
Slide 64: Key Segments - Debt Profile
Key Segments - Debt Profile ₹ Crore unless stated Total Gross Debt (LT + ST) Company Q4FY26 Q3 FY26 Q2 FY26 QoQ Tata Power (Standalone) 22,972 21,855 20,211 1,117 Maithon 1,539 1,589 1,591 (50) Coal SPVs + TPIPL 3,959 3,749 3,701 210 RE Gencos 29,497 28,631 27,890 866 TP Solar 4,496 4,417 4,400 79 T
Slide 65: Tata Power - Debt Profile
Tata Power - Debt Profile ₹ Crore unless stated Consolidated Particulars Q4FY26 Q3 FY26 Q4FY25 Rupee Forex Total Total Total Long term 58,596 3,013 61,609 54,945 44,130 Short term 3,508 - 3,508 6,179 4,496 Current Maturity of LT 5,059 946 6,005 7,379 9,520 Total Debt 71,122 68,503 58,146 Less: Cash
Slide 66: What sets us apart
What sets us apart
Slide 67: Diversified business and hence stable margins
Diversified business and hence stable margins Revenue (₹ Cr) EBITDA (₹ Cr) Net Debt (₹ Cr) PAT*** (₹ Cr) Tata Power Company Limited (TPCL) Q4FY26 15,962 4,216 56,122 1,510 Thermal Generation, Renewables^ Transmission and Eliminations/ Others Coal & Hydro Distribution (Incl. corporate taxes, expenses
Slide 68: Deeply entrenched power company with history of more than 100 years
Deeply entrenched power company with history of more than 100 years 1910-1955 2012-2013 2014-2015 2023 2026 2021 • 1910: Incorporated as • 2014: Entered into • Took over the distribution • Received second tranche of • Dorjilung HEP: Signed financing Tata Hydroelectric Power • 2012: Commissioned 2nd
Slide 69: Thank You!
Thank You! www.tatapower.com w w w . t a t a p o w e r. c o m I N V E S TO R R E L AT I O N S T E A M : Mr. Soundararajan Kasturi Mr. Anshul Verdia Chief – Treasury & Investor Relations Head – Investor Relations Email: kasturis@tatapower.com Email: anshul.verdia@tatapower.com
The Tata Power Company — Q4 FY26 Earnings Presentation on 6ix