Tata Power , one of India's largest integrated power companies, has reported a 14% growth in profit after tax (PAT) for the 24th consecutive quarter, despite challenges faced by its Mundra plant. The company's strong performance was driven by significant growth in key business segments and strategic investments in renewable energy.

Strong Performance Across Segments

Tata Power achieved remarkable growth in several key areas:

The company also crossed a milestone by achieving an EBITDA of over Rs. 4,000.00 crores for the quarter.

Renewable Energy Expansion

Tata Power is aggressively expanding its renewable energy portfolio:

• Plans to add 1.3 gigawatts of renewable capacity in the second half of the fiscal year
• Expects to reach nearly 7 gigawatts of operating renewable assets by the end of the fiscal year
• Aims to add 2 to 2.5 gigawatts of renewable capacity annually

Dr. Praveer Sinha, CEO and Managing Director of Tata Power, stated, "We are on track with our capacity addition plans, and you will see significant additions in Q3 and Q4."

Manufacturing and Investment Plans

Tata Power is evaluating significant investments in manufacturing:

• Considering a 10-gigawatt ingot-wafer manufacturing plant
• The company believes there's a growing demand for wafer and ingot manufacturing capability in India
• Expects the country to require about 50 to 60 gigawatts of wafer and ingot manufacturing capability in the next two to three years

Hydro Power Projects in Bhutan

Tata Power announced its investment in the 1,125-megawatt Dorjilung hydro project in Bhutan:

• The company will have a 40% stake in the project
• Total project cost is estimated at Rs. 13,000.00 crores
• Tata Power's equity contribution will be about Rs. 1,500.00-1,600.00 crores

Future Outlook

Tata Power remains committed to its growth strategy:

• Plans a total CAPEX of Rs. 25,000.00 crores for the current financial year
• Focuses on expanding its green portfolio, including renewable energy and rooftop solar installations
• Continues to evaluate opportunities in thermal power, including potential acquisitions of stressed assets

Despite challenges, including a prolonged monsoon affecting power demand and delaying project completions, Tata Power maintains a positive outlook. The company's diversified portfolio and strategic investments in renewable energy and manufacturing position it well for future growth in India's evolving power sector.

Financial Position

Tata Power's balance sheet remains strong:

• Net debt-to-underlying EBITDA ratio at 3.30
• Net debt-to-equity ratio at 1.20
• Received an S&P Global Upgrade of Outlook from BBB-/positive to BBB Stable

As Tata Power continues to navigate the changing landscape of India's energy sector, its focus on renewable energy, manufacturing, and strategic investments appears to be paying off, setting the stage for sustained growth in the coming years.

Tata Power , one of India's largest integrated power companies, has announced a significant employee stock option grant under its ESOP 2023 plan. The company's Nomination and Remuneration Committee approved the issuance of 50,73,760 employee stock options to eligible employees on November 11, 2025.

Key Details of the ESOP Grant

The exercise price of ₹395.85 per share is based on the closing market price on the National Stock Exchange on November 10, 2025. This aligns the option price with the current market value.

Vesting and Exercise Terms

The stock options will vest over a period ranging from a minimum of one year to a maximum of three years from the grant date. Once vested, employees will have up to two years to exercise their options and convert them into equity shares of the company.

Regulatory Compliance

Tata Power confirmed that the ESOP grant is in compliance with the SEBI (Share Based Employee Benefits and Sweat Equity) Regulations, 2021. The plan was previously authorized by shareholders through a postal ballot dated September 25, 2023.

Potential Impact

This ESOP grant represents a strategic move by Tata Power to:

1. Align employee interests with those of shareholders
2. Retain and motivate key talent
3. Foster a sense of ownership among employees

The issuance of these stock options, if fully exercised, would result in the creation of 50,73,760 new equity shares of ₹1 face value each. This could lead to a marginal dilution of existing shareholding.

As Tata Power continues its focus on clean and renewable energy transition, this employee stock option plan may play a role in incentivizing and retaining talent.