Latest news with #Torrent
Business Upturn
2 days ago
- Business
- Business Upturn
Torrent Power shares up nearly 2% as it signs long-term LNG supply deal with BP Singapore for Rs 192 crore energy project
By Aditya Bhagchandani Published on June 3, 2025, 09:54 IST Shares of Torrent Power rose nearly 2% to ₹1,418.40 in Monday's trading session after the company announced a significant strategic partnership with BP Singapore Pte. Ltd., a subsidiary of global energy giant bp. Under the long-term Sales and Purchase Agreement (SPA), Torrent Power will procure up to 0.41 million metric tonnes per annum (MMTPA) of LNG from 2027 to 2036. The LNG will be used to operate Torrent's 2,730 MW gas-based power plants, meeting peak power demand and balancing renewable energy inputs. It will also serve Torrent Gas Ltd.'s city gas distribution needs for residential, commercial, and CNG vehicle segments. The company noted this move as a step toward strengthening India's energy security and supporting the government's goal of increasing natural gas's share in the energy mix to ~15% by 2030. Torrent also hinted at further exploring medium- and long-term LNG procurement opportunities to meet its growing energy needs. As of the latest update, Torrent Power's stock was trading at ₹1,418.40, up ₹21.90 or 1.57%, with a market cap of ₹713.02 billion. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information. Aditya Bhagchandani serves as the Senior Editor and Writer at Business Upturn, where he leads coverage across the Business, Finance, Corporate, and Stock Market segments. With a keen eye for detail and a commitment to journalistic integrity, he not only contributes insightful articles but also oversees editorial direction for the reporting team.
Time of India
2 days ago
- Business
- Time of India
Torrent Power to buy LNG from BP Singapore
Ahmedabad-based Torrent Power Ltd has signed an agreement to buy up to 0.41 million tonnes per annum of LNG from BP Singapore for 10 years starting 2027, the company said on Monday. Torrent will use the liquefied natural gas (LNG) to generate electricity at its 2,730 megawatt gas-based power plants as well as city gas demand, it said in a statement. "Torrent Power Ltd (TPL) has signed a long-term sales and purchase agreement (SPA) with BP Singapore Pte Limited, a subsidiary of global integrated energy company bp, for supply of up to 0.41 million tonnes per annum of LNG from 2027 to 2036," it said. The LNG procured under this agreement will be strategically utilised by TPL, including to operate its 2,730 MW combined cycle gas-based power plants (GBPPs) in India to meet the country's rising power demand, peak demand periods' support, and balancing the renewables. It will also support the Torrent Group's city gas distribution (CGD) arm - Torrent Gas Ltd's (TGL), growing requirement of LNG to ensure a reliable supply of gas for households, commercial and industrial consumers and CNG vehicles. "This agreement represents a significant strategic move, reaffirming Torrent's commitment for clean energy , securing competitively priced LNG for long-term power generation and gas distribution, and contributes to the Government of India's goal of increasing natural gas' share in the energy mix to 15 per cent by 2030 as well as strengthening India's energy security," the statement said. Taking advantage of softness in LNG prices, TPL, along with TGL, further intends to explore medium- and long-term LNG procurement in response to the growing demand from its GBPPs and CGD networks, respectively, aiming to enhance its portfolio diversity and reliably meet energy supply needs of customers. Torrent Power, the ₹29,165-crore integrated power utility of about ₹45,000 crore Torrent Group, has an aggregate installed generation capacity of 4,838 MW comprising 2,730 MW of gas-based capacity, 1,746 MW of renewable capacity and 362 MW of coal-based capacity. Further, renewable projects of 3,154 MW and pump storage capacity of 3,000 MW are under development. Total generation and pump storage capacity, including projects under development is 7,992 MW and 3,000 MW, respectively.
Mint
4 days ago
- Business
- Mint
Indian pharma's young blood takes over as drug dynasties crack the succession code
Some of India's largest pharmaceutical firms, including Sun Pharmaceutical Industries Ltd and Torrent Pharmaceuticals Ltd, are priming the next generation of their promoter families to take over the reins. On 20 May, Torrent Pharma announced the appointment of Aman Mehta (33), son of chairman Samir Mehta and a third-generation member of the Torrent Group's founder family, as managing director effective 1 August. The company said in a press statement that the appointment was part of 'our long-term strategic vision and succession planning". The same week, Sun Pharma announced the appointment of Vidhi Shanghvi, daughter of founder and managing director Dilip Shanghvi, as a whole time director. A few months ago, Sun Pharma elevated Aalok Shanghvi (40), Dilip Shanghvi's son, as chief operating officer. Other pharma companies like Lupin Ltd too have seen the next generation of their promoter families take charge in recent years. With the Indian pharmaceutical industry growing at a significant rate, the top companies in the sector are being closely watched for the evolution they are undertaking. Experts believe such successions must be planned with foresight, factoring in ideal transition times, grooming, and the role of other veteran executives in shaping up the incoming leaders. 'If one has to think about a template, I think a good template is one where there is a fair bit of overlap between the senior generation and the next generation. And the next generation gets a good chance to actually experience different parts of the business," said Amit Misra, managing director with consultancy firm Alvarez and Marsal's healthcare and life sciences practice in Mumbai. Aman Mehta, the newly appointed managing director of Torrent Pharma, is a whole-time director at Torrent Pharma. He was appointed as a director in 2022 and has been primarily involved with Torrent Pharma's India business, the company's largest revenue contributor. According to Torrent's press statement, Mehta played an instrumental role in the integration of the Unichem Laboratories Ltd acquisition and the strategic identification and integration of Curatio Healthcare Pvt. Ltd. Torrent's acquisition of Unichem's branded India and Nepal business in 2017 significantly boosted its presence in key segments. Torrent acquired 100% of Curatio in 2022. Similarly, Aalok Shanghvi, who was brought into the Sun Pharma fold in 2006, has handled various roles in marketing, research and development, project management, purchase, and communications, according to information on the company's website. Over the past two decades, Shanghvi has headed Sun's business in Bangladesh and later emerging markets, spanning 80 countries. Subsequently, he also took charge of Sun's global generic R&D, global generic business development, and API (active pharmaceutical ingredients) functions. Vidhi Shanghvi began her career at Sun Pharma in 2012 as a brand manager within the India business, and took over as business head of Sun Pharma's consumer healthcare business in 2015, following its merger with Ranbaxy Laboratories Ltd. 'Promoters need to not parachute their progeny into the boards, but groom them from the shop floor, be it in an accelerated manner, and then expose them to internal and external stakeholders," said Shriram Subramanian, founder and managing director of InGovern Research Services. The role of incumbent senior executives and how they evolve must also be planned, he said. 'At least the senior level executives' succession planning should be a process and discussed at the board level," Subramanian said, adding that uncertainties around leadership must be factored in and planned for. An ideal transition would involve a transition of erstwhile leadership as well, said Misra of Alvarez and Marsal. 'In the sense that when you are bringing in the next generation side by side, you also start to help them choose their team, while some of the stalwarts remain in advisory positions," he explained. Also read | Mint Explainer: What sparks family feuds in Indian corporations? Corporate successions: A tricky path India's corporate landscape is riddled with high-profile family disputes even in instances where the promoter families had drawn up legal frameworks to ensure a smooth transition. Factions of the Kirloskar family are feuding over a 2009 deed of family settlement that outlined the distribution of ownership, management, and control of various Kirloskar entities—including Kirloskar Brothers Ltd and Kirloskar Oil Engines Ltd—among different branches of the family. Babasaheb Kalyani, the billionaire promoter of the Kalyani group, and his sister Sugandha Hiremath have been in a dispute for longer than a decade over the family's group companies such as Bharat Forge Ltd and Kalyani Steels Ltd, as well as private assets like land, real estate, and jewellery. The Lodha brothers—real estate developers Abhishek and Abhinandan—only last month resolved their dispute over the 'Lodha' brand identity after a longdrawn mediation and with the guidance of their parents. Messy legal disputes aside, corporate successions tend to be mired in other seemingly mundane challenges that need to be factored in. For instance, corporate successors following in the footsteps of senior family members who built successful businesses would want to develop their own styles and strategies while continuing the company's growth and legacy. 'The challenge for the next generation is to retain the differentiating factor or the competitive edge as far as the company is concerned," Misra said. 'If a successor tries to just cut copy-paste, it won't work because that did not work even in the case of the previous generation," he added. Also read | Why do business families delay the inevitable: Succession planning? For companies facing a vacuum when it comes to finding successors from within the family, the focus needs to be on bringing in professional talent who align with the firm's culture and vision, while also fostering loyalty and longevity in this leadership. Take the case of Cipla. After heir apparent Kamil Hamied, nephew of Cipla doyen Dr. Y.K. Hamied, stepped down as chief strategy officer in 2015 to pursue personal interests, the company brought in Umang Vohra, former head of Dr. Reddy's Laboratories Ltd's North America business, as its global chief financial officer. In 2016, Cipla appointed him global CEO and managing director. What is important for the continuity of a successful business is empowering the successors—be it family members or a professional team—and ensuring they understand the company's needs, experts said. 'The point remains that even in cases where the vacuum is not there, empowering some of these people so that their leadership styles start getting noticed and they get the opportunity to be known, is extremely important," Misra emphasised.
Yahoo
26-05-2025
- Sport
- Yahoo
Domènec Torrent: "When I hear Rayados, I think of a classy, quality club"
This article was translated into English by Artificial Intelligence. You can read the original version in 🇪🇸 here. Following Martín Demichelis' departure from the Rayados bench, the Monterrey management acted quickly to find a new strategist, thinking about the upcoming Club World Cup. The chosen one was Spanish Domènec Torrent, who recently left his position at Atlético de San Luis. Upon arriving in Monterrey, Torrent revealed that there had been a previous approach with the club: "When I was in the MLS, they came looking for me and since then I started watching Mexican football for them, for Rayados," the coach stated. "Everyone knows they're great and have a special talent," he added. He also shared his impression of his new team: "It's a club that when they say Rayados, I think of an elegant and quality club." And he emphasized that he will seek to unite the group: "We have to convince everyone to row in the same direction to get results." With the Club World Cup on the horizon, Torrent will focus on getting the most out of the squad. "Everyone knows that the Rayados squad has excellent quality... what we have to do is get the most out of the game possible," he expressed. "I have no secret other than hard work... we are Rayados and until the last minute we have to fight for victory," he concluded. 📸 Leopoldo Smith - 2025 Getty Images
Business Standard
21-05-2025
- Business
- Business Standard
Torrent Pharma gains as Q4 PAT rises 11% YoY to Rs 498 cr; recommends final dividend of Rs 6/sh
Torrent Pharmaceuticals added 1.53% to Rs 3,292.95 after the company's consolidated net profit increased 10.91% to Rs 498 crore in Q4 FY25 as against Rs 449 crore posted in Q4 FY24. Total revenue from operations grew 7.79% year on year (YoY) to Rs 2,959 crore in the quarter ended 31 March 2025. Profit before tax stood at Rs 665 crore in March 2025 quarter, up 5.38% from Rs 631 crore posted in same quarter last year. Operating EBITDA stood at Rs 964 crore in Q4 FY25, registering a growth of 9.17% as against Rs 883 crore reported in Q4 FY24. The operating EBITDA margin improved to 32.6% in Q4 FY25, up from 32.2% in the previous year. Torrent Pharmaceuticals reported India revenues of Rs 1,545 crore in Q4 FY25, marking a 12% year-on-year growth, driven by strong performance in focus therapies. According to AIOCD secondary market data, the Indian Pharmaceutical Market (IPM) grew 8% during the quarter. Torrent's chronic segment outpaced the market, posting a 14% growth compared to IPMs 9% rise in the same category. On a MAT (Moving Annual Total) basis, Torrent continued to outperform the industry across key therapy areas, supported by robust new product launches. The company currently has 21 brands ranked among the Top 500 in the IPM, with 14 brands clocking over Rs 100 crore in annual sales. Brazil revenues for Torrent Pharma stood at Rs 351 crore, marking a decline of 6%, primarily impacted by the steep depreciation of the Brazilian Real (BRL). However, constant currency revenues were $ 234 million, reflecting a 5% increase. The company also faced a challenge due to a lower-than-expected annual price increase on April 1st, which led wholesalers to reduce their inventory more than usual. According to IQVIA data, Torrent grew at 13%, outperforming the market's growth of 7%. Additionally, Torrent currently has sixty-three products under review by ANVISA. The company reported revenues of Rs 286 crore from its Germany operations in Q4 FY25, registering a 2% year-on-year growth. In constant currency terms, revenues stood at 31 million, up 1% YoY. The company attributed the modest growth to continued success in securing new tender wins, supported by ongoing cost improvement initiatives. Torrent Pharmaceuticals reported a 15% year-on-year rise in US business revenue at Rs 302 crore for Q4 FY25. In constant currency terms, revenue stood at $35 million, marking a 10% increase compared to the same period last year. On a full year basis, the companys net profit rallied 15.39% to Rs 1,911 crore on 7.34% rise in total revenue from operations to Rs 11,516 crore in FY25 over FY24. Torrent Pharmaceuticals reported strong performance in its India business for FY25, with revenues rising 13% year-on-year to Rs 6,393 crore. In Brazil, revenue declined 2% to Rs 1,100 crore; however, in constant currency terms, it grew 9% to R$734 million. The Germany business posted a 6% increase in revenue to Rs 1,139 crore, with constant currency growth of 5% at 126 million. Meanwhile, the US business recorded a 2% rise in revenue to Rs 1,100 crore. In constant currency, US revenue stood at $130 million, with flat growth of 1% after adjusting for one-off income in FY24. Meanwhile, the board 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. Further, the board has approved the appointment of Aman Mehta as Managing Director, effective 1st August 2025. Lastly, the company said its board has recommended that members seek enabling approval to raise up to Rs 5,000 crore through the issuance of equity shares, including via convertible bonds/debentures, through qualified institutional placement (QIP) or any other modes at the upcoming annual general meeting. Torrent Pharmaceuticals Ltd is one of the leading Indian Pharmaceutical Company engaged in research, development, manufacturing and marketing of generic pharmaceutical formulations. It is the flagship company of Torrent Group which also has presence in power and city gas distribution businesses.
