Q4 FY26 PAT Rises 8% to ₹1,416 Crore; Board Recommends Higher Dividend
Key Points:
- FY26 annual PAT hits record ₹5,118 crore, up 7% year-on-year
- Renewables PAT surges 59% YoY to ₹1,994 crore in FY26
- Rooftop solar PAT nearly doubles, up 150% YoY in FY26
MUMBAI – Tata Power on Monday reported an all-time high annual Profit After Tax of ₹5,118 crore for FY26, a 7% year-on-year rise, driven by strong operational efficiency across its diversified energy portfolio.
For the fourth quarter ended March 31, 2026, the company posted a Reported PAT of ₹1,416 crore, up 8% year-on-year. Meanwhile, Q4 FY26 revenue stood at ₹15,962 crore. EBITDA for the quarter grew 10% year-on-year to ₹4,216 crore.
For the full year FY26, revenue reached ₹63,681 crore. EBITDA rose 11% to ₹16,090 crore. Moreover, the Core Business delivered Revenue growth of 13%, EBITDA growth of 27%, and PAT growth of 34% year-on-year in FY26.
The board recommended a dividend of ₹2.50 per equity share for FY26. This is higher than the ₹2.25 per share paid for FY25.
The following table summarises the consolidated financial performance:
| Particulars | Q4 FY26 (₹ cr) | Q4 FY25 (₹ cr) | YoY Change | FY26 (₹ cr) | FY25 (₹ cr) | YoY Change |
|---|---|---|---|---|---|---|
| Revenue | 15,962 | 17,328 | -8% | 63,681 | 64,502 | -1% |
| EBITDA | 4,216 | 3,829 | +10% | 16,090 | 14,468 | +11% |
| Reported PAT | 1,416 | 1,306 | +8% | 5,118 | 4,775 | +7% |
The Renewables business posted a PAT of ₹406 crore in Q4 FY26. For the full year, Renewables PAT rose 59% year-on-year to ₹1,994 crore. Tata Power Renewable Energy Ltd crossed 10 GW of cumulative Solar EPC execution and commissioned 2.5 GW of renewable capacity in FY26. The company’s total renewable portfolio now stands at 11.6 GW, including 5.1 GW under construction.
The Solar Cell and Module Manufacturing segment posted a PAT of ₹265 crore in Q4 FY26, up 40% year-on-year. FY26 PAT for this segment doubled to ₹857 crore, up 103% year-on-year. Production reached 3,825 MW of modules and 3,759 MW of cells. In addition, the TPREL Board approved an investment of approximately ₹6,500 crore in a 10 GW photovoltaic ingot and wafer manufacturing facility.
The Rooftop Solar segment posted a PAT of ₹186 crore in Q4 FY26, up 94% year-on-year. FY26 PAT surged 150% to ₹499 crore. Tata Power Solaroof crossed 3.7 lakh installations with cumulative installed capacity beyond 4.8 GWp. The company has ranked as the No. 1 rooftop solar company for 11 consecutive years.
The Transmission and Distribution business posted a PAT of ₹949 crore in Q4 FY26, up 54% year-on-year. FY26 PAT rose 49% to ₹2,978 crore. Meanwhile, the Odisha DISCOMs PAT grew 11% year-on-year in Q4 FY26 to ₹304 crore. FY26 PAT for Odisha DISCOMs rose 84% to ₹809 crore, on revenues of ₹19,980 crore.
In FY26, Tata Power supplied 49.52 billion units of electricity to the grid. Its Discoms supplied approximately 47.92 billion units to consumers.
On the Bhutan front, Tata Power’s clean energy collaboration with DGPC crossed the 5,000 MW mark. The Royal Government of Bhutan and the World Bank Group signed a financing agreement of $515 million for the 1,125 MW Dorjilung Hydroelectric Power Project. Tata Power holds a 40% equity stake in the project. Furthermore, the first disbursement of ₹500 crore was completed from PFC for the 600 MW Khorlochhu Hydro Power Project.
Dr. Praveer Sinha, CEO and Managing Director of Tata Power, said the results reflected the company’s sustained focus on long-term value creation. He added that as peak electricity demand is projected to reach 270 GW this year, energy security and reliability remain critical priorities.
