Tata Power's Q2 FY27 revenue stood at Rs 19,640 crore., inline with Motilal Oswal's estimates, while EBITDA came in 15% below estimates at Rs 3,670 crore, with margins declining 240 basis points QoQ to 18.7%. Adjusted PAT stood at Rs 1,280 crore, in line with estimates, supported by a net exceptional gain of Rs 120 crore and strong Indonesia coal profitability. Operational capacity increased to 17.4GW, while module/cell production stood at 1,000MW/906MW.
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Motilal Oswal Report
Following Tata Power Ltd.'s inline Q2 results, domestic brokerage firm Motilal Oswal has maintained 'Buy' rating on the stock, setting a target price of Rs 440, implying a potential upside of 22% from the reports market price.
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Tata Power's Q2 FY27 revenue stood at Rs 19,640 crore., inline with Motilal Oswal's estimates, while EBITDA came in 15% below estimates at Rs 3,670 crore, with margins declining 240 basis points QoQ to 18.7%.
Adjusted PAT stood at Rs 1,280 crore, in line with estimates, supported by a net exceptional gain of Rs 120 crore and strong Indonesia coal profitability. Operational capacity increased to 17.4GW, while module/cell production stood at 1,000MW/906MW.
The brokerage values the regulated business at 2.5 times regulated equity, coal segment at 1x book value, renewables segment at 12x FY28E EBITDA, and pumped storage and other segments at 1x PB, and cash and investments add Rs 70/share. The sum of these contributions results in a target price of Rs 440/share.
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