Tata Power Shares In Focus: Long-Term Value Creation On Track, Says Motilal Oswal — Details Inside

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Motilal Oswal Report

Tata Power Company Ltd. is set to double its Ebitda and PAT by FY30, backed by aggressive expansion in renewables, transmission, and distribution, according to Motilal Oswal’s latest report.

The brokerage has reiterated a Buy rating with a target price of Rs 500, implying a 31% upside from the current market price of Rs 382.

Key growth drivers include:

• Renewable Energy: Prioritizing in-house projects over EPC, with 1.5 GW capacity addition planned in FY26.

• Transmission: Expanding network to ~10,000 ckm by 2030, with strong participation in HVDC projects.

• Distribution: Tripling customer base from 12.8 million to 40 million by FY30, aided by reforms like parallel licensing and PPP models.

• Solar Manufacturing and Rooftop: Setting up a 10 GW wafer-ingot facility and targeting 38% CAGR in rooftop solar revenue over FY25–30.

• Hydro and Pumped Storage: Developing projects like Bhivpuri (1,000 MW) and Shirwata (1,800 MW) to meet round-the-clock power demand.

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