The Tata Power Company Limited

TATAPOWER.NS

Independent Power Producers · Utilities

Price

₹374.30

-0.95 (-0.25%)

Market Cap

₹1.20T

Exchange

National Stock Exchange of India

Winston Score

Winston is serious

Below-average fundamentals — multiple weak pillars.

Data as of Aug 23, 2026 · filings through Jun 30, 2026

How the score breaks down

Quality

Mixed

Growth

Mixed

Cash Flow

Weak

Stability

Mixed

Valuation

Good

Dividends

Good

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Share count falling — buybacks

−4.1% over 4y

The company has reduced its share count over this period, returning value to shareholders through buybacks.

Diluted shares outstanding: 3.34B (2022) → 3.20B (2026)

Winston Score History

The full picture

Tata Power is one of India's largest electricity companies. It generates, transmits, and distributes power to homes, businesses, and industries across India. The company produces electricity from coal, hydropower, solar, and wind sources, and it is part of the well-known Tata Group conglomerate.

Tata Power earns money by selling electricity directly to consumers and through long-term contracts with state utilities. It also installs rooftop solar panels for homes and businesses, which has become a fast-growing part of its business. The company operates mainly in India, with a significant presence in cities like Mumbai, Delhi, and Ajmer, and its connection to the trusted Tata brand gives it a reputational edge over smaller rivals. The key growth driver is India's rapid expansion of renewable energy capacity, as the government pushes to add large amounts of solar and wind power over the coming years, though rising debt from heavy infrastructure investment remains a meaningful financial risk.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-12.8% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-4.3% YoY

YoY Growth Rate

Earnings declining

R&D Spend

₹0/ year

↓ Declining (-100% vs prior year)

0.0% of revenue

Below sector average (1%)

R&D spend declining — could signal cost-cutting or efficiency

Insider Activity

47.4%ownership

Insiders own a meaningful stake in the company

Cash Position

Cash flow positive

₹0 cash & investments

Company generates more cash than it spends — no dilution risk from fundraising

Revenue declining

The Tata Power Company Limited's revenue is actually shrinking. In a growth stock, that removes the core investment thesis. The low Winston Score here may be warranted — unless there's a turnaround story.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

Each metric is explained in plain language so you know exactly what you're looking at. Start your free trial now.

Quality

Profit per sale

Gross Margin

23.5%

Thin — 23.5% gross margin

Profit after running costs

Operating Margin

14.5%

Healthy — 14.5% operating margin

Return on the money invested

ROCE

7.1%

Weak — 7.1% return on capital

ROIC between 5% and 15%. They earn 5 to 15 cents back per year on every dollar invested.

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Growth

Sales growth

Sales YoY

-4.2%

Shrinking sales (-4.2% YoY)

Profit growth

EPS YoY

-4.6%

Earnings shrinking (-4.6% YoY)

Slight earnings drop. Typical near a cyclical low.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

21%

Weak — only 21% of profit becomes cash

Spare cash per sale

FCF Margin

-9.5%

Burning cash (-9.5%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

1.89

Elevated debt (1.89)

Covers its interest

Interest Cover

1.50x

Dangerous — barely covers interest (1.5x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

30.9x

Pricey — P/E 30.9

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+7.7

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (30.9 → 23.2)

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Dividends

Dividend

Dividend Yield

0.66%

Small dividend — 0.66% yield

Modest yield. The bulk of any return needs to come from price appreciation.

Dividend record

Dividend Growth

+42.3%

Dividend growing fast (42.3% YoY)

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