Tata Power has announced a significant change in its statutory auditing arrangements, with the Board of Directors approving the appointment of BSR & Co. LLP as the company's new statutory auditors. The decision was made during a board meeting held on February 4, 2026, following recommendations from the Audit Committee.

Auditor Transition Details

The appointment marks a transition from the current statutory auditors, with specific terms and timeline clearly defined:

SRBC & Co. LLP will continue serving as statutory auditors until the conclusion of the 108th Annual General Meeting, completing their second term with the company.

Profile of New Statutory Auditors

BSR & Co. LLP brings substantial experience and infrastructure to its new role with Tata Power. The firm was originally established as a partnership on March 27, 1990, with firm registration number 101248W, before converting to a limited liability partnership structure on October 14, 2013.

Firm Capabilities and Reach

The firm operates as a member entity of BSR and Affiliates, a network registered with the Institute of Chartered Accountants of India, providing comprehensive audit services across multiple sectors.

Regulatory Compliance

The appointment follows proper regulatory protocols under SEBI regulations. The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Master Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024.

Board Meeting Timeline

The board meeting that approved this appointment commenced at 2:00 p.m. IST and concluded at 4:35 p.m. IST on February 4, 2026. The decision reflects the company's commitment to maintaining robust audit practices and regulatory compliance standards.

Tata Power Company Limited has announced its third quarter financial results, showing a decline in both net profit and revenue compared to the same period last year. The power utility company's performance fell short of market expectations across key financial metrics, though operational efficiency showed marginal improvement.

Financial Performance Overview

The company reported consolidated net profit of ₹7.7 billion for the third quarter, marking a significant decrease from ₹10.3 billion recorded in the corresponding quarter of the previous year. This represents a year-on-year decline of approximately 25% in net profit. The results also missed analyst estimates, which had projected net profit of ₹9.2 billion for the quarter.

Revenue and EBITDA Performance

Tata Power's revenue for the third quarter stood at ₹139.5 billion, compared to ₹154 billion in the same quarter of the previous year. This decline in revenue indicates challenges in the company's top-line performance, with the year-on-year decrease reflecting reduced business activity during the quarter.

Despite the revenue decline, the company's EBITDA stood at ₹30.55 billion compared to ₹33.52 billion in the previous year. However, the EBITDA margin showed a slight improvement to 21.90% from 21.78% year-on-year, indicating better operational efficiency despite lower absolute earnings.

Market Expectations vs Reality

The company's actual performance fell below market expectations, particularly in terms of profitability. While analysts had estimated net profit of ₹9.2 billion, the actual reported figure of ₹7.7 billion represents a shortfall of ₹1.5 billion from these projections. This gap between expectations and actual results highlights the challenges faced by the power sector during the reporting period.