Torrent Pharma benefited from excessive gasoline costs as its era capacities weren’t utilised for distribution (owing to excessive vitality prices) and it may promote the gasoline (gas) in open market. Nevertheless, after gasoline costs corrected in FY24, revenue has remained muted largely as a consequence of diminished gasoline buying and selling revenue.
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ICICI Securities Report
Torrent Energy Ltd. raised Rs 35 billion in FY25 by means of QIP. It added
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528 MW of RE capability,
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received 2GW of PSP capability.
It continued to report low distribution losses in its distribution space – leading to superior return from its distribution portfolio. It reported a rise in Ebitda for FY25 as a consequence of elevated service provider gross sales in Q1 FY25 from its open capability.
It has once more tied up for its gas-based energy crops beneath short-term preparations at enticing charges. Because of this, we count on these service provider advantages to proceed aiding profitability in FY26E.
With Rs 200 billion capex lined up for FY26–27 and most RE property locked into long-term energy buy agreements, progress visibility stays agency past FY27.
Present valuations depart little room for upside. Preserve Cut back with SoTP-based revised goal worth of Rs 1,240 (earlier Rs 1,165).
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