Tata Power targets Rs 1 lakh crore revenue by 2030

Management sets FY30 financial milestones

Tata Power has laid out internal targets of reaching revenue of Rs 1,00,000 crore and profit after tax (PAT) of Rs 10,000 crore by FY30. The company reiterated this ambition at its annual general meeting (AGM) during a question and answer session, where Chairman Natarajan Chandrasekaran spoke about the 2030 goals. The targets were also echoed across multiple investor notes referenced in the provided material. The plan is positioned as a group-wide expansion across Tata Power’s business verticals rather than a single-bet strategy.

The company said revenue generation is expected to be led by generation, transmission, distribution, renewables, and manufacturing. The mix matters because Tata Power’s operating model spans regulated networks, conventional generation, and fast-growing renewable and manufacturing segments. Management commentary also pointed to an “energy as a service” approach for housing, commercial, and industrial customers, centred on clean and green solutions.

FY30 targets: revenue, PAT, and EBITDA

Alongside revenue and PAT, management-linked notes also cite an EBITDA target of Rs 30,000 crore by FY30. Motilal Oswal highlighted a goal to double EBITDA to Rs 30,000 crore by FY30, while another note said the company’s current EBITDA is in the Rs 14,000-15,000 crore range. Taken together, the numbers frame FY30 as a multi-metric milestone year, not limited to top-line expansion.

One investor note described the PAT ambition as a 2.5x increase over FY24 and added that renewables could contribute Rs 5,000 crore, or 50%, of FY30 net profit. These are investor-note references included in the provided text, and they indicate where analysts believe profit pools could come from if the company executes on capacity and mix targets.

Capex plan through FY30 and allocation to green projects

Tata Power has estimated capital expenditure (capex) of Rs 1,25,000 crore between FY26 and FY30. The company said 65% of this capex is intended for clean and green projects, aligning the spending plan with India’s energy transition and Tata Power’s stated strategic direction. Separately, another note in the provided material mentions a projected spend of Rs 1,46,000 crore from FY25 to FY30, described as 2.5 times higher than the previous five years.

In another reference, Tata Power was reported to be considering an average capex of Rs 25,000 crore a year starting FY26 to reach its operational capacity goals by 2030, with a primary focus on non-fossil sources. The presence of multiple capex figures in the material suggests different time windows or source interpretations, but all point to an elevated investment phase heading into FY30.

Where the company expects growth to come from

The company has linked its FY30 revenue aspiration to expansion across all business verticals. It explicitly named generation, transmission, distribution, renewables, and manufacturing as the leading contributors to future revenue generation. This breadth is important because network businesses can provide relatively stable cash flows, while renewables and manufacturing can change the growth rate and margin profile over time.

A transcript excerpt included in the provided text also breaks down strategic emphasis: around 50% in renewables, 30% in transmission and distribution, and 20% in the existing generation business. This framing was presented in the context of profit and other financial parameters, including revenue, and it also referenced ongoing fresh investment in renewables.

Capacity buildout: 30 GW to 32 GW, with 20 GW renewables

The company’s stated capacity targets converge around a major scale-up by FY30. Multiple notes in the provided material cite a target of around 30 GW total installed capacity by 2030, with renewables targeted at around 20 GW. Another reference specifies an operational capacity target of 32 GW by 2030, again with a primary focus on non-fossil sources.

These targets sit alongside the capex plan and help explain why management and analysts are repeatedly linking FY30 financial outcomes to capacity addition and mix shift. While the exact endpoint differs across sources (30 GW versus 32 GW), the direction is consistent: higher total capacity and a larger renewable component by FY30.

Manufacturing push: solar expansion and a new Odisha project

Tata Power also plans to expand solar manufacturing across ingots and wafers, according to the provided text. A specific project cited is a new 10 GW initiative in Odisha. In addition, the company launched a 4.3 GW solar cell and module manufacturing unit in Gangaikondan, Tamil Nadu, near Tirunelveli. CEO and MD Praveer Sinha shared the FY30 revenue and profit ambitions during that launch, according to the provided material.

Manufacturing is positioned as part of the revenue-growth engine, alongside networks and generation. The inclusion of ingots and wafers indicates an intent to move deeper into the solar value chain, not only module assembly.

Baseline financials cited across sources

The provided material contains multiple FY25-related baselines. One investor note compares the FY30 ambition against FY25 revenue of Rs 65,478 crore and net profit of Rs 4,775 crore. Another Hindi-language excerpt states that in FY2025-26 the company’s revenue was Rs 63,681 crore and profit was Rs 5,212 crore. These figures are presented as reported in the source material and reflect differing periods or reporting references.

What is consistent across the notes is the framing of FY30 as a step-up from the mid-Rs 60,000 crore revenue range to Rs 1,00,000 crore, and PAT rising to Rs 10,000 crore.

Key numbers at a glance

Share price levels and analyst commentary mentioned

The provided material also includes market commentary around Tata Power’s stock. It states the share price was around Rs 377 at the time of the report. Market analyst Pradeep Haldar, in an interview referenced in the text, suggested potential levels of Rs 440 and then Rs 480, and advised traders to keep a stop-loss around Rs 352.

The same text cites the stock’s 52-week high as Rs 464.80 and 52-week low as Rs 342.35. These levels were presented as trading reference points rather than company guidance.

Why these targets matter for investors tracking the power sector

The numbers in the provided material place renewables and clean projects at the centre of Tata Power’s FY30 plan, supported by a large capex programme. A separate Elara Capital reference in the text says renewables could make up 65% of the company’s energy mix by FY30, and it also mentions increasing green capacity from 6.7 GW to 33 GW.

For investors, the key questions are execution and the pace of commissioning across renewables, network expansion, and manufacturing. The cited EBITDA target and the emphasis on renewables’ profit contribution indicate that margin outcomes, not only revenue scale, are central to the narrative being presented around FY30.

Conclusion

Tata Power’s management has set clear FY30 markers: Rs 1,00,000 crore revenue, Rs 10,000 crore PAT, and an EBITDA target of Rs 30,000 crore, alongside a major capex cycle and capacity expansion toward ~30 GW to 32 GW. The company has also outlined manufacturing initiatives, including a 10 GW project in Odisha and a 4.3 GW solar cell and module facility in Tamil Nadu. What investors will track next are updates on capex deployment, capacity commissioning milestones, and progress toward the targeted renewable scale by 2030.