Torrent Power Limited (TORNTPOWER) — Announcement

· NSE 🔴 High Importance Neutral
📢 Key Event
India Ratings reaffirmed Torrent Power's credit ratings at IND AA+/Stable and IND A1+.
🔄 What Changed
1.6x net leverage in 9MFY26
🔮 What's Next
INR220 billion thermal capex (75:25 debt-equity), 3GW pumped hydro project, 4.3GW renewable under-construction
💡 Investor Takeaway
Shareholders should monitor debt levels from acquisitions and execution of expansion projects.
⚠️ Risks
Debt increase from Nabha Power acquisition and large capex plans

India Ratings reaffirmed Torrent Power's IND AA+/Stable long-term and IND A1+ short-term ratings, citing strong regulated operations and declining leverage to 1.6x in 9MFY26, though highlighting debt risks from the Nabha Power acquisition and major capex plans. The company maintains adequate liquidity with INR19.1 billion cash reserves amid INR220 billion thermal capex and 4.3GW renewable expansion.

📄 View Original Announcement (PDF)

About Torrent Power Limited (TORNTPOWER)

Power · Power · Listed on NSE

Market Cap: ₹73,872.26 Cr P/E: 29.9

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Source: Stock Announcements. Analysis by StockFin.ai. For informational purposes only — not investment advice.

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