Tata Power share price tumbled over 5% on the NSE during Wednesday’s trading session after the company reported its financial results for the quarter ended March 31, 2026, on Tuesday.
The stock opened at ₹391 apiece today, as compared to the previous close of ₹418.40 on Tuesday. Tata Power share price has delivered significant returns of 96% in three years and multibagger returns of 281% in five years.
Tata Power Q4 results 2026 snapshot
on Tuesday reported a consolidated net profit of ₹996 crore for the fourth quarter of FY26, marking a 4% year-on-year (YoY) decline from ₹1,043 crore posted in the corresponding quarter last year.
Revenue from operations during the March quarter declined 13% YoY to ₹14,900 crore, compared to ₹17,096 crore a year earlier. However, EBITDA increased 10% to ₹4,216 crore during the quarter.
The company said improved operational efficiencies and steady growth across its core segments supported earnings performance. Its core business registered a 13% YoY rise in PAT in Q4, largely driven by the generation, transmission and distribution, and renewable energy businesses.
For the full FY26 fiscal year, Tata Power posted its highest-ever annual PAT of ₹5,118 crore, reflecting a 7% YoY increase, while EBITDA climbed 11% to ₹16,090 crore. Annual revenue for the year came in at ₹63,681 crore.
The company’s board also recommended a final dividend of ₹2.5 per share for the financial year ended March 2026.
If approved by shareholders at the AGM, the dividend will be distributed on or after Friday, July 10. The company has fixed June 23 as the record date for determining eligible shareholders for the dividend.
Chief Executive Officer and Managing Director Praveer Sinha said Tata Power remains focused on long-term growth prospects driven by clean energy expansion, transmission projects, and improvements in power distribution operations across Odisha, Delhi, and Mumbai. He further noted that increasing electricity demand and India’s energy transition are likely to drive future growth in rooftop solar, manufacturing, and customer-focused energy solutions.
Tata Power share price: Should you buy or sell?
Brokerage firm JM Financial has maintained its ‘buy’ rating on the stock with a target price of ₹485 apiece, seeing an upside potential of up to 16%.
“The 4.9GW cell+module facility (EBITDA/Wp in INR improved from 4.59 in Q4FY25 to 5.47 in Q4FY26 as cell/module ratio improved from 0.74 to 1.05), the acceleration in rooftop solar (INR 9bn OB) and stable performance at Odisha discoms (4Q PAT up 11% YoY) remain key performance drivers. Now, with Mundra operational following the SPPA with Gujarat, we estimate the company to report FY26–28E CAGR of 13/14/19% in Revenue/EBITDA/PAT. We maintain BUY with an SOTP-based TP of INR 485 (429 earlier), 12.6x EV/EBITDA and 2.8x P/B on FY28,” the firm said.
Meanwhile, brokerage firm Motilal Oswal has also maintained its ‘buy’ rating with a target price of ₹490 per share.
“The valuation of TPWR is segmented across various business units, wherein the regulated business is valued using a 2.5x multiple on regulated equity, the coal segment is valued at 1x book value, the renewables segment is valued at 12x FY28E EBITDA, the pumped storage segment and other segments are valued at 1x PB, and cash and investments add INR76/share. The sum of these contributions results in a TP of INR490/share. Maintain BUY,” the firm said in a note.
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