Tata Power Q1 FY27: Growth led by regulated earnings and renewables execution

Consolidated revenue was INR 18,898 crore, EBITDA was INR 4,249 crore, and PAT was INR 1,401 crore in Q1 FY27.

The presentation reports Q1 FY27 cluster revenues of INR 5,193 crore for Thermal Generation, Coal and Hydro, INR 3,771 crore for Renewables, INR 11,441 crore for Transmission and Distribution, and INR (1,507) crore for Eliminations and Others.

TP Solar reported operating income of INR 2,462 crore, EBITDA of INR 626 crore and PAT of INR 371 crore in Q1 FY27, with 1,001 MW modules produced and 862 MW cells produced.

Management stated RE capacity was about 6.7 GW and indicated plans to add about 2,500 to 2,700 MW in FY2027, taking capacity above 9 GW by end of the financial year.

Net external debt was reported at INR 61,238 crore in Q1 FY27, increasing from INR 56,122 crore in Q4 FY26, attributed to higher capex and working capital requirements.

The deck highlights Bhiwupuri PSP (1,000 MW) with packages awarded and SECI Letter of Award for 324 MW under a 40-year agreement at an annual fixed charge of INR 1.08 crore per MW per year. Management said commissioning could begin in calendar 2029 and Shirwata PSP (1,800 MW) is planned to start later in FY2027 subject to approvals.

The company reported 371 MWp rooftop installations in Q1 FY27 and 5.2 GWp cumulative rooftop installations, and launched the MySine Battery as a bundled rooftop plus storage solution.