Torrent Power Limited has announced its audited financial results for the fourth quarter and full financial year ended March 31, 2026, while outlining major investments across renewable energy, thermal power and storage infrastructure as part of its long-term growth strategy.
The company reported revenue from operations of ₹6,406 crore during Q4 FY26 compared to ₹6,456 crore in the corresponding quarter of the previous year. EBITDA for the quarter stood at ₹1,220 crore against ₹1,245 crore in Q4 FY25, while Total Comprehensive Income (TCI) came in at ₹408 crore.
For the full financial year FY26, Torrent Power recorded revenue from operations of ₹28,966 crore compared to ₹29,165 crore in FY25. Annual EBITDA increased to ₹5,864 crore from ₹5,795 crore in the previous year. The company reported FY26 TCI of ₹2,514 crore, compared to ₹3,059 crore in FY25, which included a one-time deferred tax liability reversal gain in the previous fiscal.
The company stated that after adjusting for the one-time non-cash deferred tax liability reversal of ₹637 crore in FY25, annual TCI improved by ₹92 crore, supported by improved operational performance across its licensed and franchised distribution businesses as well as the renewable energy segment. However, performance from the gas-based generation business remained impacted due to volatile gas markets and fluctuating power demand conditions.
Torrent Power highlighted its strong financial position, reporting a Net Debt-to-Equity ratio of 0.67 and Net Debt-to-EBITDA ratio of 2.06 as of March 31, 2026.
Commenting on the performance, Jinal Mehta said FY26 marked a significant milestone for the company as it accelerated investments across renewable energy, thermal power and energy storage businesses to support India’s evolving energy transition.
The company announced commitments exceeding ₹30,000 crore towards expanding thermal generation capacity by 3 GW, including the construction of a new 1,600 MW thermal power project in Madhya Pradesh and the acquisition of the 1,400 MW Nabha Power project. Torrent Power also strengthened its gas-based portfolio through long-term LNG partnerships with global energy companies including BP and JERA.
In the distribution segment, the company reported distribution losses of 2.33% in its licensed businesses, which it said were among the lowest in the country. Torrent Power added that it secured the top national ranking among 65 DISCOMs for operational performance and reliability.
The Board of Directors has recommended a final dividend of ₹5 per equity share for FY26. Including the interim dividend of ₹15 per share already paid, the total dividend for the financial year stands at ₹20 per equity share, representing a 200% dividend payout.
Torrent Power currently operates an aggregate installed generation capacity of 5,094 MW, comprising 2,730 MW of gas-based capacity, 2,002 MW of renewable energy capacity and 362 MW of coal-based capacity. The company is also developing nearly 3.96 GW of renewable energy projects, 3 GW of pumped storage capacity and 1.6 GW of additional coal-based capacity.
Including projects under development and acquisition, Torrent Power’s total generation and pumped storage portfolio is expected to reach nearly 12.05 GW and 3 GW respectively, positioning the company as a key player in India’s expanding clean energy and power infrastructure sector.
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