**Torrent Power Q1 FY27 Update:** **Business Performance:** Revenue grew 3% YoY to 8,124 Cr.

While PBDIT increased 2% to 1,618 Cr, Profit After Tax saw an 11% decline to 662 Cr.

The company showcased strong operational excellence in FY26, with licensed distribution loss at a low 2.33% and Bhiwandi AT&C loss significantly reduced to 9.1%. **Growth Drivers & Strategy:** Torrent Power is strategically expanding, aiming to boost operational capacity from ~6.6 GWp to ~12.3 GWp, propelled by ~4.6 GW of renewable energy projects under installation.

Key focus areas include green molecules like Green Hydrogen and Pumped Storage Power, targeting ~8.4 GW. **Recent Developments:** Recent notable updates include the acquisition of the 1,400 MW Nabha Power coal plant and significant progress on a 3 GW Pumped Storage Hydro Project in Maharashtra, with 2,000 MW already tied up. **Key Financial Metrics:** The company's market capitalization stands at ~₹ 71,330 Cr.

A healthy balance sheet is reflected in FY26 Net Debt/EBITDA of 2.06x and Net Debt/Equity of 0.56x. **Management Outlook:** Management is focused on scaling renewable energy and leveraging its integrated business model to capitalize on market opportunities, underpinned by a robust financial position for future growth.