Highlights

• Torrent Power’s Q2 FY26 Total Comprehensive Income (TCI) rose 48% year-on-year to ₹730 crore.
• Revenue from operations grew 10% to ₹7,876 crore in Q2 FY26 compared to ₹7,176 crore in Q2 FY25.
• The company secured a 1,600 MW thermal project in Madhya Pradesh and inaugurated its first Green Hydrogen Plant in Gorakhpur.

Torrent Power Limited (NSE: TORNTPOWER), part of the ₹45,000 crore Torrent Group, announced its financial results for the quarter and six months ended September 30, 2025. The company reported a 48% year-on-year rise in Total Comprehensive Income (TCI) for Q2 FY26, reaching ₹730 crore, driven by increased contribution from merchant power sales from gas-based plants and lower finance costs.

Revenue and Profit Performance

Torrent Power recorded revenue from operations of ₹7,876 crore in Q2 FY26, marking a 10% increase compared to ₹7,176 crore in Q2 FY25. For the first half of FY26, revenue stood at ₹15,782 crore, compared to ₹16,210 crore in the same period last year.

The company’s EBITDA for Q2 FY26 was ₹1,584 crore, up 19% from ₹1,332 crore in the previous year’s corresponding quarter. For H1 FY26, EBITDA stood at ₹3,171 crore compared to ₹3,266 crore in H1 FY25.

Torrent Power’s Total Comprehensive Income (TCI) grew 48% year-on-year to ₹730 crore in Q2 FY26, compared to ₹492 crore in Q2 FY25. For the half-year period, TCI was ₹1,469 crore compared to ₹1,484 crore in H1 FY25.

The company attributed its higher quarterly income to increased merchant power and LNG sales from gas-based power plants, alongside reduced finance costs, partially offset by higher depreciation due to new renewable capacity additions.

Key Developments During the Quarter

Thermal Power Project Secured in Madhya Pradesh

Torrent Power announced that it has received a Letter of Award from MP Power Management Company Limited for a 1,600 MW coal-based power plant in Madhya Pradesh. The long-term power supply will be at a tariff of ₹5.829 per kWh.

Inauguration of Green Hydrogen Plant in Gorakhpur

The quarter also marked the inauguration of Torrent Group’s first Green Hydrogen Plant in Gorakhpur, Uttar Pradesh, by the Hon’ble Chief Minister, Shri Yogi Adityanath. Developed jointly by Torrent Power and Torrent Gas, the plant has an annual production capacity of 72 tonnes per annum (TPA). It is recognized as India’s largest hydrogen-natural gas blending initiative within the City Gas Distribution sector.

Business Overview

Torrent Power, with a total installed generation capacity of 4,961 MW, operates across the full power value chain — generation, transmission, and distribution. Its generation mix includes 2,730 MW of gas-based, 1,869 MWp of renewable, and 362 MW of coal-based capacity. Additionally, the company has around 3.6 GWp of renewable projects, 3 GW of pumped storage, and 1.6 GW of coal-based capacity under development, taking the total generation and storage capacity to over 10 GWp.

In distribution, Torrent Power serves 4.21 million customers across Gujarat, Maharashtra, Uttar Pradesh, and the Union Territory of Dadra & Nagar Haveli and Daman & Diu. The company is recognized for maintaining low distribution losses and high reliability indices in its operational areas.

Conclusion

Torrent Power’s Q2 FY26 performance underscores consistent growth in revenue and profitability, supported by higher merchant power contributions and strategic project additions. 

Disclaimer:

The information available on this article is provided for education and informational purposes only. It does not constitute or provide financial, investment or trading advice and should not be construed as an endorsement of any specific stock or financial strategy in any form or manner. We do not make any representations or warranties regarding the quality, reliability, or accuracy of the information provided. This website may contain links to third-party content. We are not responsible for the content or accuracy of these external sources and do not endorse or verify the information provided by third parties. We are not liable for any decisions made or actions taken based on the information provided on this website.

Copyright 2026 Krish Capital Pty. Ltd. All rights reserved. No part of this website, or its content, may be reproduced in any form without our prior consent.