Torrent Power Limited has announced its financial results for the quarter and financial year ended March 31, 2026, while also declaring a 200 percent dividend for the year. The company reported improved operational performance across key business segments and outlined major investments aimed at strengthening its position in India’s evolving energy sector.
The company stated that after adjusting for a one-time non-cash reversal of deferred tax liabilities amounting to ₹637 crore in FY25, total comprehensive income for FY26 improved by ₹92 crore. The growth was supported primarily by stronger performance in licensed and franchised power distribution businesses as well as continued expansion in the renewable energy segment.
Torrent Power noted that the renewable energy business recorded better operational outcomes during the year, although gains were partially offset by higher depreciation and interest costs linked to ongoing project implementation and capacity expansion. The company also reported contribution from its gas-based power generation portfolio despite challenges arising from fluctuations in power demand patterns and volatility in global gas markets. Additionally, gains recorded from the sale of non-current investments during the previous financial year impacted year-on-year comparisons.
Torrent Power highlighted that it continues to maintain one of the strongest balance sheets among private sector power companies in India. As of March 31, 2026, the company reported a net debt-to-equity ratio of 0.67 and a net debt-to-EBITDA ratio of 2.06, reflecting a stable financial position while pursuing large-scale growth investments.
Commenting on the performance, Jinal Mehta, Vice Chairman and Managing Director of Torrent Power, said FY26 represented a defining phase in the company’s long-term growth journey as it prepares for significant expansion across multiple energy segments. He stated that the company committed substantial capital investments during the year to accelerate growth in renewable energy, thermal generation and storage solutions. Torrent Power announced investments exceeding ₹30,000 crore toward increasing thermal power generation capacity by 3 GW.
The expansion includes the commencement of construction for a new 1,600 MW thermal power project in Madhya Pradesh as well as the strategic acquisition of the 1,400 MW Nabha Power plant, further strengthening the company’s thermal generation portfolio. Torrent Power also enhanced its gas-based generation strategy by securing long-term LNG partnerships with global energy players.
In the distribution business, the company reported distribution losses of only 2.33 percent across its licensed operations, which it described as the lowest in the country. Torrent Power said it was ranked first nationally among 65 distribution companies, reflecting strong operational efficiency, reliability and customer service standards.
Mr Mehta stated that the company is building a diversified energy platform with strong capabilities across renewables, thermal generation, storage solutions and power distribution. He observed that India’s power sector is entering a phase of sustained high demand growth, creating long-term opportunities for integrated energy companies.
While acknowledging near-term uncertainties caused by geopolitical developments in the Middle East, the company maintained that India’s energy demand outlook remains resilient due to industrial growth, urbanisation and infrastructure expansion. Torrent Power reiterated its commitment to supporting India’s energy transition while delivering sustainable growth and long-term value for shareholders and stakeholders.
With a diversified portfolio, strategic investments and a strong balance sheet, the company said it remains well-positioned to capitalise on emerging opportunities in India’s rapidly transforming power sector. As a major player in India’s power sector, Torrent Power is dedicated to advancing green energy solutions and supporting the national goal of 500 GW renewable capacity by 2030. The company’s extensive experience and strong financial position position it well to make a significant impact in the renewable energy landscape.
