Tata Power targets ₹1 lakh crore revenue, ₹10,000 crore PAT by FY2030

Tata Power targets ₹1 lakh crore of revenue and ₹10,000 crore of profit after tax in FY2030E, compared with FY 2026 figures of ₹63,681 crore and ₹5,212 crore respectively. Management’s plan also calls for more than 30 gigawatts of total capacity and about 40 million distribution customers by FY2030E.

What are Tata Power's FY2030 financial targets?

Tata Power aims for FY2030E revenue of ₹1 lakh crore, earnings before interest, tax, depreciation and amortisation (EBITDA) of ₹30,000 crore, and profit after tax (PAT) of ₹10,000 crore. The presentation characterises the revenue objective as about 1.6 times the FY 2026 base and the EBITDA and PAT objectives as about two times their respective FY 2026 bases.

The aspirations cover Tata Power's integrated power business of generation, transmission and distribution. FY2030E is a management estimate rather than a reported outcome, and the presentation states that forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially.

The revenue target starts from a FY 2026 revenue base of ₹63,681 crore, which was ₹821 crore below FY 25 revenue of ₹64,502 crore. In contrast, EBITDA rose by ₹1,622 crore to ₹16,090 crore in FY 2026 from ₹14,468 crore in FY 25. The plan therefore envisages a return to revenue growth while continuing the EBITDA increase reported in the latest full financial year.

How much capacity does Tata Power plan to add by FY2030?

Tata Power aims to exceed 30 gigawatts (GW) of total capacity and 20 GW of clean and green capacity by FY2030E, against about 16.7 GW and about 7 GW, respectively, shown as achieved in FY 2026. The total-capacity measure includes thermal capacity, so it is broader than the clean and green target.

The same plan targets more than 10,000 circuit-kilometres (Ckm) of transmission lines and about 40 million distribution customers. Tata Power reports 7,403 Ckm of operational and under-construction lines and 13.1 million customers for FY 2026. Relative to those stated bases, the customer goal would add about 26.9 million customers and the transmission objective implies at least 2,597 further Ckm.

The capacity targets indicate that clean and green capacity is intended to account for a substantial part of the planned generation increase. However, Tata Power does not disclose an annual commissioning schedule, capital expenditure figure, or segment-by-segment investment allocation for the move from the FY 2026 measures to FY2030E objectives.

What assets support Tata Power's FY2030 expansion plan?

Tata Power describes an operating platform of about 27.1 GW of total capacity, including operational and under-construction projects, and 18.3 GW of clean and green energy on its company overview page. That page separately lists 17.4 GW of total installed capacity, showing that installed capacity and operational-plus-under-construction capacity are distinct measures.

The overview also reports 5,724 Ckm of operational transmission lines and 2,170 Ckm under construction, as well as 13.3 million distribution customers. The two line figures total 7,894 Ckm, compared with 7,403 Ckm of operational and under-construction lines on the FY 2026 target page. Tata Power does not reconcile the 491-Ckm difference in the supplied presentation.

In new-age energy solutions, Tata Power lists about 4.9 GW of integrated cell and module manufacturing capacity, 2.8 GW of pumped hydro projects under construction, and about 5.1 gigawatt-peak (GWp) of total installed solar rooftop capacity. GWp is the solar industry’s rated peak-output measure. These activities sit alongside the generation, transmission and distribution businesses identified in the FY2030E plan.

Tata Power also cites 9.5 GW of clean and green energy under construction and 0.2 GW of battery energy storage system capacity within the 18.3-GW clean and green figure. The stated FY2030E aim of more than 20 GW is therefore close to the overview’s broader operational-plus-under-construction measure, but it is materially above the target page’s FY 2026 achieved measure of about 7 GW. The presentation does not explain the difference between those capacity definitions.

How has Tata Power's financial performance changed before FY2030?

Tata Power's FY 2026 EBITDA was ₹16,090 crore, up from ₹8,192 crore in FY 22, while reported PAT before minority interest increased to ₹5,118 crore from ₹2,156 crore. Revenue rose from ₹42,576 crore in FY 22 to ₹63,681 crore in FY 2026, although it declined from the FY 25 level of ₹64,502 crore.

EBITDA increased in each year shown, from ₹8,192 crore in FY 22 to ₹10,068 crore in FY 23, ₹12,701 crore in FY 24, ₹14,468 crore in FY 25 and ₹16,090 crore in FY 2026. Reported PAT before minority interest also rose in each of those years, from ₹2,156 crore to ₹3,810 crore, ₹4,280 crore, ₹4,775 crore and ₹5,118 crore, respectively.

For H1FY27, Tata Power reported revenue of ₹38,784 crore, EBITDA of ₹8,494 crore and reported PAT before minority interest of ₹3,053 crore. It also reported underlying EBITDA of ₹9,222 crore, which includes the share of joint ventures and associates, while the reported EBITDA figure includes other income. The presentation labels these as different measures.

The FY2030E target chart uses FY 2026 PAT of ₹5,212 crore, while the financial-performance chart reports FY 2026 PAT before minority interest of ₹5,118 crore, a difference of ₹94 crore. The latter chart also gives FY 2026 return on equity of 11.6%, versus 12.8% in FY 25, and adjusted earnings per share before exceptional items of ₹12.0, versus ₹13.5. Tata Power does not explain the PAT difference in the supplied pages.

Conclusion

Tata Power's FY2030E plan combines higher financial targets with expansion of its generation portfolio, transmission network and distribution customer base. The targets would move revenue from ₹63,681 crore in FY 2026 to ₹1 lakh crore, while seeking to lift total capacity from about 16.7 GW to more than 30 GW and customers from 13.1 million to about 40 million.

The next disclosures to watch are progress against the stated FY 2026 bases, particularly capacity additions, transmission-line expansion and customer growth. Tata Power's future updates may also clarify the differing capacity measures, the 491-Ckm difference between two transmission totals, and the ₹94 crore difference between the FY 2026 PAT figures used in separate presentation charts.