Company: Tata Power Company Ltd. Category: Broker Research

After about a year-long competitive bidding process, BEST DISCOM found it economical to extend the existing PPA with Tata Power’s Trombay and hydro power plants due to transmission constraints in Mumbai.
Jan. 3, 2019, 11:51 a.m.

Net debt increased, though marginally by ~INR2b to ~INR485b in FY18, despite strong operating cash flow (including dividend).
Aug. 3, 2018, 10:15 a.m.

Coal JVs’ disclosure has improved. PAT grew ~5x YoY to INR6.7b and dividend payout was ~56% in FY17. INR3.7b dividend from coal JVs nearly offset the INR3.3b negative free cash flow (FCF) at CGPL.
Sept. 8, 2017, 4:19 p.m.

Optimized CGPL’s capital structure Raising estimates; Maintain Sell
Aug. 31, 2017, 7:31 p.m.

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