Latest news with #SamirMehta
Economic Times
20-05-2025
- Business
- Economic Times
Torrent Pharmaceuticals Q4 Results: Net profit rises 11% to Rs 498 crore
Torrent Pharmaceuticals Ltd on Tuesday reported an 11 per cent rise in consolidated net profit at Rs 498 crore in the fourth quarter ended March 2025. The company, which had posted a consolidated net profit of Rs 449 crore in the corresponding quarter previous fiscal, announced the appointment of Aman Mehta -- elder son of Torrent Group Chairman Samir Mehta -- as Managing Director, effective August 1, 2025 as part of its succession planning. ADVERTISEMENT Consolidated total revenue from operations in the fourth quarter stood at Rs 2,959 crore as against Rs 2,745 crore in the same period a year ago, Torrent Pharmaceuticals Ltd said in a regulatory filing. Total expenses in the fourth quarter were higher at Rs 2,252 crore as compared to Rs 2,145 crore in the year-ago period, it added. During the quarter, the company said it had an exceptional item outgo of Rs 24 crore to settle a litigation over alleged price overcharging and demand raised by the National Pharmaceutical Pricing Authority (NPPA) in 2017. In the fourth quarter, India revenue was at Rs 1,545 crore, up 12 per cent led by outperformance in focus therapies. On the other hand, Brazil revenue was at Rs 351 crore, down 6 per cent, impacted by steep Brazilian Real (BRL) depreciation, it added. US business revenue was at Rs 302 crore, up by 15 per cent, and Germany revenue was up 2 per cent at Rs 286 crore, the company said. ADVERTISEMENT For fiscal 2024-25, consolidated net profit was at Rs 1,911 crore as against Rs 1,656 crore in 2023-24, the company said. FY25 consolidated total revenue from operations stood at Rs 11,516 crore as against Rs 10,728 crore in FY24, it added. ADVERTISEMENT Torrent Pharma said its board has recommended the members to obtain enabling approval to raise up to Rs 5,000 crore through issuance of equity shares, including via convertible bonds/debentures through Qualified Institutional Placement (QIP) and or any other modes in the upcoming Annual General Meeting. The board also recommended a final dividend of Rs 6 per equity share of Rs 5 each. Earlier an interim dividend of Rs 26 per equity share was paid during the last quarter, it added. (You can now subscribe to our ETMarkets WhatsApp channel)
Business Standard
15-05-2025
- Business
- Business Standard
Torrent Power Q4 PAT soars 146% YoY to Rs 430 cr; declares dividend of Rs 5/sh
Torrent Power reported consolidated net profit of Rs 1,059.57 crore in Q4 FY25 zoomed 146.27% as against Rs 430.24 crore in Q4 FY24. However, revenue from operations fell 1.10% year on year to Rs 6,456.34 crore in the quarter ended 31 March 2025. Profit before tax for the quarter was at Rs 619.25 crore, marginally up 0.34% from Rs 617.11 crore recorded in Q4 FY24. During the quarter, EBITDA jumped 3% to Rs 1,245 crore in Q4 FY25 as against Rs 1,206 in Q4 FY24. On the segmental front, revenue from generation was at Rs 1,246.04 (down 43.25% YoY), revenue from transmission and distribution stood at Rs 5,830.18 crore (up 4.15% YoY), and revenue from renewables stood at Rs 251.23 crore (down 4.19% YoY) during the period under review. The company has a total installed generation capacity of 4,838 MWp, which includes 2,730 MW of gas-based capacity, 1,746 MWp of renewable energy capacity, and 362 MW of coal-based capacity. In addition, renewable energy projects totaling 3,154 MWp and 3,000 MW of pump storage capacity are currently under development. Including these projects, the companys total planned generation and pump storage capacity will reach 7,992 MWp and 3,000 MW, respectively. The company distributes nearly 31 billion units to over 4.21 million customers in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD), Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh. Commenting on the performance, the companys Chairman, Samir Mehta said, FY 25 was a transformative year for the Company, marked by significant advancements across operational, financial and strategic growth initiatives. During the year, the Company completed its highly successful maiden equity raise of Rs 3,500 crores through QIP; which was also the first equity raise by the Torrent Group in the last three decades. The successful completion of the issue, with 4 times oversubscription, underscores TPLs strong credentials and highlights the companys future growth prospects as one of the fastest growing in the countrys power sector. The Company made significant progress in building on its strategic initiatives by entering into first-of-its-kind in India, Energy Storage Facility Agreement (ESFA) with MSEDCL for supplying 2,000 MW / 16,000 MWh Pump Storage Hydro power for 40 years. Our gas-based power projects were able to supply power in merchant market including NVVN tenders and under Sec 11, imposed first time on gas-based power plants by Government, contributing significantly to the bottom-line. Our Distribution business continued to set new operational benchmarks with Distribution loss of 2.34% in our licensed distribution business. This achievement is a testament of our operational capabilities and is the lowest Distribution loss in the country and is comparable to global benchmarks. In our franchised distribution areas, Agra achieved its historic low AT&C losses of 6.94% compared to 58.77% when we took over the operations in Agra in 2010. The Company is well-poised for the next phase of growth with under-construction pipeline of more than 3 GW of renewable projects & 3 GW of Pump Storage Hydro power project alongwith a robust balance sheet endeavouring to deliver sustainable growth for our shareholders. Meanwhile, the company is raising funds through the issuance of non-convertible debentures (NCDs) of up to Rs 3,000 crore, in one or more tranches, via private placement. Further, the board of directors has recommended final dividend of Rs 5 per equity share for FY25. The total dividend for FY25 stands as Rs 19 per equity share, comprising of interim dividend of Rs 14 per equity share and final divided of Rs 5 per equity share. Shares of Torrent Power declined 2.77% to Rs 1,412.65 on the BSE.
United News of India
14-05-2025
- Business
- United News of India
Torrent Power net profit surges 63 pc in FY 2024-25
Ahmedabad, May 14 (UNI) Torrent Power Ltd on Wednesday reported a 63 percent jump in its total comprehensive income (net profit) for the financial year 2024-25 at Rs 3,059 crore, as against Rs 1,882 crore in the previous year. The robust performance was attributed to increased contributions from its gas-based power plants and distribution businesses, lower tax outgo due to reversal of deferred tax liabilities of Rs 637 crore (a one-time, non-cash item), and gains from sale of non-current investments. However, the company's renewable segment saw reduced contribution owing to lower plant load factor (PLF) from adverse weather and partial commissioning of solar projects under stabilisation. Torrent Power's revenue from operations rose seven percent to Rs 29,165 crore in FY25, compared to Rs 27,183 crore in FY24. EBITDA grew 18 percent year-on-year to Rs 5,795 crore. For the fourth quarter, TCI jumped 142 percent to Rs 1,085 crore, even as revenue fell marginally by one per cent to Rs 6,456 crore. Despite increased capex and commissioning of additional renewable generation capacity, leading to higher finance and depreciation costs, the company maintained a strong financial position with a Net Debt\\\\\\\\:Equity ratio of 0.40 and Net Debt/EBITDA ratio of 1.41 as of March 31, 2025. Commenting on the results, Torrent Power Chairman Samir Mehta said, 'FY25 was a transformative year for the company, marked by significant advancements across operational, financial and strategic growth initiatives. Our successful Rs 3,500 crore equity raise via QIP — the first by the Torrent Group in over three decades — reinforces investor confidence in our future prospects.' He added that the company's gas-based plants performed well in the merchant market and under Section 11 mandates, and the distribution segment set new operational benchmarks with a record-low distribution loss of 2.34 percent in licensed areas. In Agra, AT\\\\\\\\&C losses fell sharply to 6.94 percent from 58.77 percent in 2010. Torrent Power has a strong pipeline, including over 3 GW of renewable projects and 3 GW of pump storage hydro capacity under development. The company also signed India's first Energy Storage Facility Agreement with MSEDCL for supplying 2,000 MW/16,000 MWh of Pumped Storage Hydro Power over 40 years. The Board has recommended a final dividend of Rs five per equity share, taking the total dividend for FY25 to Rs 19 per share, including an interim dividend of Rs 14. Torrent Power, part of the Rs 45,000 crore Torrent Group, is an integrated power utility with operations spanning generation, transmission and distribution. It has an installed generation capacity of 4,838 MWp and distributes around 31 billion units of power annually to over 4.21 million customers across multiple states and Union Territories. UNI BDN SS
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Business Standard
14-05-2025
- Business
- Business Standard
Torrent Power Q4 results: Net profit more than doubles to Rs 1,077 cr
Torrent Power on Wednesday posted an over two-fold (141 per cent) surge in its consolidated net profit at Rs 1,077.22 crore in March quarter compared to a year ago, mainly due to reversal of deferred tax liabilities of Rs 637.09 crore. The company had a consolidated net profit of Rs 447.04 crore in the quarter ended on March 31, 2024, a BSE filing showed. Total income slightly dipped to Rs 6,570.69 crore in the reporting quarter from Rs 6,625.45 crore in the same period a year ago. The company explained that the management has carried out detailed assessment of deferred tax on temporary differences that are expected to reverse during the period in which the company would be under the new tax regime. Accordingly, it applied the new income tax rate of 25.168 per cent as compared to the existing income tax rate of 34.944 per cent for measuring the said deferred tax in accordance with the requirements of Ind AS 12 "Income Taxes". This has resulted in reversal of deferred tax liabilities of Rs 637.09 crore during the year, it stated. The company's board has also recommended a final dividend of Rs 5 per equity share on 50,39,03,543 equity shares of Rs 10 each. The final dividend, if declared by the members at the ensuing Annual General Meeting will be paid on or before September 4, 2025. Earlier, an interim dividend of Rs 14 per equity share was paid during Q4 FY 2024-25. The total dividend for FY25 stands at Rs 19 per equity share, comprising the interim dividend of Rs 14 per equity share and the final divided of Rs 5 per share. The board has also approved a proposal to raise funds via issuance of Non-Convertible Debentures up to Rs 3,000 crore in one or more tranches through private placement. The company further said its consolidated net profit for the fiscal 2024-25 rose to Rs 3,058.61 crore from Rs 1,896 crores in the preceding financial year. It stated that the major reasons for higher profit for the fiscal are increase in contribution from gas-based power plants as well as higher contribution from licensed and franchised distribution businesses. Besides, decrease in tax expenses mainly due to reversal of deferred tax liabilities of Rs 637 crore being one-time and non-cash item contributed to the company's annual profit, it said, adding that there was also a gain on sale of non-current investments. Lower contribution from renewable businesses due to lower PLF (plant load factor) on account of inclement weather conditions and partial commissioning of solar project currently under stabilisation period also contributed to higher profits. Capex and commissioning of additional renewable generation capacities lead to increase in finance and depreciation costs, it stated. The Company enjoys a strong balance sheet position with one of the best financial ratios amongst private players in the power sector with the net debt-to-equity ratio of 0.40 and net debt-to-EBITDA ratio of 1.41 as on March 31, 2025. Torrent Power Chairman Samir Mehta said in the statement, "FY25 was a transformative year for the company, marked by significant advancements across operational, financial and strategic growth initiatives." He noted that during the year, the company completed its highly successful maiden equity raise of Rs 3,500 crore through QIP, which was also the first equity raise by the Torrent Group in the last three decades. According to Mehta, distribution business continued to set new operational benchmarks with Distribution loss of 2.34 per cent in our licensed distribution business, he stated. "In our franchised distribution areas, Agra achieved its historic low AT&C losses of 6.94 per cent compared to 58.77 per cent when we took over the operations in Agra in 2010," he said. He was of the view that the company is well-poised for the next phase of growth with under-construction pipeline of more than 3 GW of renewable projects and 3 GW of pump storage hydro power project along with a robust balance sheet.
Time of India
14-05-2025
- Business
- Time of India
Torrent Power Q4 Results: Net profit more than doubles to Rs 1,077 crore
Torrent Power on Wednesday posted an over two-fold (141 per cent) surge in its consolidated net profit at Rs 1,077.22 crore in March quarter compared to a year ago, mainly due to reversal of deferred tax liabilities of Rs 637.09 crore. The company had a consolidated net profit of Rs 447.04 crore in the quarter ended on March 31, 2024, a BSE filing showed. Total income slightly dipped to Rs 6,570.69 crore in the reporting quarter from Rs 6,625.45 crore in the same period a year ago. The company explained that the management has carried out detailed assessment of deferred tax on temporary differences that are expected to reverse during the period in which the company would be under the new tax regime. Accordingly, it applied the new income tax rate of 25.168 per cent as compared to the existing income tax rate of 34.944 per cent for measuring the said deferred tax in accordance with the requirements of Ind AS 12 "Income Taxes". This has resulted in reversal of deferred tax liabilities of Rs 637.09 crore during the year, it stated. The company's board has also recommended a final dividend of Rs 5 per equity share on 50,39,03,543 equity shares of Rs 10 each. Live Events The final dividend, if declared by the members at the ensuing Annual General Meeting will be paid on or before September 4, 2025. Earlier, an interim dividend of Rs 14 per equity share was paid during Q4 FY 2024-25. The total dividend for FY25 stands at Rs 19 per equity share, comprising the interim dividend of Rs 14 per equity share and the final divided of Rs 5 per share. The board has also approved a proposal to raise funds via issuance of Non-Convertible Debentures up to Rs 3,000 crore in one or more tranches through private placement. The company further said its consolidated net profit for the fiscal 2024-25 rose to Rs 3,058.61 crore from Rs 1,896 crores in the preceding financial year. It stated that the major reasons for higher profit for the fiscal are increase in contribution from gas-based power plants as well as higher contribution from licensed and franchised distribution businesses. Besides, decrease in tax expenses mainly due to reversal of deferred tax liabilities of Rs 637 crore being one-time and non-cash item contributed to the company's annual profit, it said, adding that there was also a gain on sale of non-current investments. Lower contribution from renewable businesses due to lower PLF (plant load factor) on account of inclement weather conditions and partial commissioning of solar project currently under stabilisation period also contributed to higher profits. Capex and commissioning of additional renewable generation capacities lead to increase in finance and depreciation costs, it stated. The Company enjoys a strong balance sheet position with one of the best financial ratios amongst private players in the power sector with the net debt-to-equity ratio of 0.40 and net debt-to-EBITDA ratio of 1.41 as on March 31, 2025. Torrent Power Chairman Samir Mehta said in the statement, "FY25 was a transformative year for the company, marked by significant advancements across operational, financial and strategic growth initiatives." He noted that during the year, the company completed its highly successful maiden equity raise of Rs 3,500 crore through QIP, which was also the first equity raise by the Torrent Group in the last three decades. According to Mehta, distribution business continued to set new operational benchmarks with Distribution loss of 2.34 per cent in our licensed distribution business, he stated. "In our franchised distribution areas, Agra achieved its historic low AT&C losses of 6.94 per cent compared to 58.77 per cent when we took over the operations in Agra in 2010," he said. He was of the view that the company is well-poised for the next phase of growth with under-construction pipeline of more than 3 GW of renewable projects and 3 GW of pump storage hydro power project along with a robust balance sheet.
