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 delivered a strong operational and financial performance in the third quarter, with EBITDA increasing 12% year-on-year despite the Mundra plant remaining non-operational throughout the quarter. The company's diversified business portfolio, particularly solar manufacturing and rooftop solar segments, drove the robust performance.

Strong Financial Performance Despite Challenges

The company reported consolidated EBITDA of ₹39.13 crores for the third quarter compared to the previous year, marking a 12% year-on-year increase. PAT increased marginally to ₹11.94 crores despite substantial impact from Mundra being non-operational for the quarter. For the nine-month period, EBITDA jumped 12% year-on-year to ₹118.74 crores compared to ₹106.39 crores in the previous year.

Solar Manufacturing Business Delivers Exceptional Growth

The solar cell and module manufacturing segment emerged as a key growth driver, with plant profit after tax surging to ₹2.51 crores in the quarter compared to ₹1.12 crores last year. For the nine-month period, the plant delivered PAT of ₹5.92 crores, representing an impressive 154% increase compared to ₹2.33 crores in the previous year nine-months.

Rooftop Solar Business Shows Remarkable Progress

The rooftop solar segment demonstrated exceptional performance, crossing one gigawatt in the nine-month period. In Q3, the company executed 372 MW compared to 173 MW in the previous year. The rooftop PAT increased significantly to ₹1.11 crores in the quarter compared to ₹0.60 crores last year. For the nine-month period, it reached ₹3.24 crores compared to ₹1.10 crores in the previous year.

Odisha Distribution Business Turnaround

Odisha Discoms showed remarkable improvement with profit increasing to ₹2.26 crores in the quarter compared to ₹0.86 crores last year. In the nine-month period, profit reached ₹5.05 crores compared to ₹1.64 crores in the previous year. The company highlighted significant improvements in collection efficiency, billing efficiency, and loss reduction across all four discoms.

Mundra Plant Resolution Progress

The company has made substantial progress in resolving Mundra plant issues, concluding arrangements with Gujarat on all SPPA matters except one point. Management expects to close this remaining issue within 2-3 weeks and begin parallel discussions with other states to restart plant operations by month-end, positioning for summer demand requirements.