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    Now summarize the following text:
     
   
   
 
 October 30, 2024      
 
BSE Limited 
Corporate Relationship Department 
1st Floor, New Trading Ring 
Rotunda Bldg., P. J. Towers 
Dalal Street, Fort 
Mumbai – 400 001. 
Scrip Code: 500400 National Stock Exchange of India Limited 
Exchange Plaza, 5th Floor 
Plot No. C/1, G Block Bandra-Kurla Complex 
Bandra (East) 
Mumbai – 400 051. 
Symbol : TATAPOWER   
Dear Sir/Madam, 
 
Outcome of the Board Meeting - October 30, 2024 
 
In terms of Regulations 30, 33, 52 and 54 of the Securities Exchange Board of India (Listing Obligations 
and Disclosure Requirements) Regulations, 2015, as amended, we forward herewith the Audited 
Standalone Financial Results along with the Auditor's Report and Unaudited Consolidated Financial 
Results along with Limited Review Report of the Company for the quarter and half year ended September 30, 2024, which were approved and taken on record by the Board of Directors of the Company at its 
meeting held today. 
 
 
The Board Meeting commenced at 2.30 p.m. (IST) and concluded at 5.35 p.m. (IST). 
 
The Trading Window for the Company’s shares was closed from Tuesday, September 24, 2024 and will 
open from Saturday, November 2, 2024.  
The above announcements are also being made available on the Company's website at 
www.tatapower.com . 
 
This is for your information and record. 
Yours Sincerely, 
 For The Tata Power Company Limited  
 
 
 
                                                              Vispi S. Patel 
Company Secretary 
FCS 7021 
Encl: As above   SR BC& COLLP 
Chartered Accountants 12th Floor, The Ruby 
29 Senapati Bapat Marg 
Dadar (West) 
Mumbai -400 028, India 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> 
Independent Auditor's Review Report on the Quarterly and Year to Date Unaudited Consolidated 
Financial Results of the Company Pursuant to the Regulation 33 and 52 of the SEBI (Listing 
Obligations and Disclosure Requirements) Regulations, 2015, as amended 
Review Report to 
The Board of Directors 
The Tata Power Company Limited 
1. We have reviewed the accompanying Statement of Unaudited Consolidated Financial Results 
of The Tata Power Company Limited (the "Holding Company") and its subsidiaries (the 
Holding Company and its subsidiaries together referred to as "the Group"), its associates and 
joint ventures for the quarter ended September 30, 2024 and year to date from April 01, 
2024 to September 30, 2024 (the "Statement") attached herewith, being submitted by the 
Holding Company pursuant to the requirements of Regulation 33 and 52 of the SEBI (Listing 
Obligations and Disclosure Requirements) Regulations, 2015, as amended (the "Listing 
Regulations"). 
2. The Holding Company's Management is responsible for the preparation of the Statement in 
accordance with the recognition and measurement principles laid down in Indian Accounting 
Standard 34, (Ind AS 34) "Interim Financial Reporting" prescribed under Section 133 of the 
Companies Act, 2013 as amended, read with relevant rules issued thereunder and other 
accounting principles generally accepted in India and in compliance with Regulation 33 and 52 
of the Listing Regulations. The Statement has been approved by the Holding Company's Board 
of Directors. Our responsibility is to express a conclusion on the Statement based on our 
review. 
3. We conducted our review of the Statement in accordance with the Standard on Review 
Engagements (SRE) 2410, "Review of Interim Financial Information Performed by the 
Independent Auditor of the Entity" issued by the Institute of Chartered Accountants of India. 
This standard requires that we plan and perform the review to obtain moderate assurance as 
to whether the Statement is free of material misstatement. A review of interim financial 
information consists of making inquiries, primarily of persons responsible for financial and 
accounting matters, and applying analytical and other review procedures . A review is 
substantially less in scope than an audit conducted in accordance with Standards on Auditing 
and consequently does not enable us to obtain assurance that we would become aware of all 
significant matters that might be identified in an audit. Accordingly, we do not express an audit 
opinion. 
We also performed procedures in accordance with the Master Circular issued by the Securities 
and Exchange Board of India under Regulation 33(8) of the Listing Regulations, to the extent 
applicable. 
4. The Statement includes the results of the following entities as per Annexure 1 
SR BC & CO LLP, a Limited Liability Partnership with LLP Identity No. AAB-4318 
Regd. Office: zz. Carnac Street. Block 'B'. 3rd Floor. Kolkata·700 016 SR BC & CO LLP 
Chartered Accountants 
The Tata Power Company Limited 
Page 2 of 6 
5. We draw your attention to Note 4 of the financial results and the following paragraph to the 
review report issued on the unaudited financial results of Tata Projects Limited for the period 
ended September 30, 2024, an associate of the Group issued by an independent firm of 
Chartered Accountants vide its Report dated October 23, 2024, reproduced by us as under: 
"Certain claims made by Tata Projects Limited in respect of which Tata Projects Limited had 
recognized revenue as it had assessed the same to be highly probable of collection. However , 
the Company received lower adjudication awards or rejections in respect of certain elements 
of such claims resulting in the awards being lower than the amounts estimated and recognised. 
In view of these lower / rejected awards, there are uncertainties around the claim amounts 
that may eventually be accepted / realised, and in our opinion, it does not meet the condition 
for recovery of such claim being highly probable. Consequently, Revenue from Operations and 
carrying value of Other financial assets is overstated by Rs. 299.80 crores, Contract execution 
expenses and Other current liabilities is understated by Rs. 4. 96 crores with consequential 
impact on the results/ information for the period ended September 30, 2024." Accordingly, 
Group's share of profit of associates and joint ventures accounted for using the equity method 
and net profit for the period ended September 30, 2024 is overstated by Rs. 84. 78 crores. 
6. Based on our review conducted and procedures performed as stated in paragraph 3 above and 
based on the consideration of the review/audit reports of other auditors referred to in 
paragraph 7 and 8 below, except for the effects of the matter described in paragraph 5 above, 
nothing has come to our attention that causes us to believe that the accompanying Statement, 
prepared in accordance with recognition and measurement principles laid down in the 
aforesaid Indian Accounting Standards specified under Section 133 of the Companies Act, 
2013, as amended, read with relevant rules issued thereunder and other accounting principles 
generally accepted in India, has not disclosed the information required to be disclosed in terms 
of the Listing Regulations, including the manner in which it is to be disclosed, or that it contains 
any material misstatement. 
7. The accompanying Statement includes the audited/unaudited interim financial results and 
other financial information, in respect of: 
• 7 subsidiaries, whose audited/unaudited interim financial results and other unaudited 
financial information include total assets of Rs. 18,756.34 crore as at September 30, 
2024, total revenues of Rs. 3,481.44 crore and Rs. 6,915.66 crore, total net profit after 
tax of Rs. 436.16 crore and Rs. 536.97 crore, total comprehensive income of Rs. 435.92 
crore and Rs. 536.50 crore, for the quarter ended September 30, 2024 and the period 
ended on that date respectively, and net cash inflows of Rs. 526.32 crore for the period 
from April 01, 2024, to September 30, 2024, as considered in the Statement which have 
been audited/reviewed by their respective independent auditors. 
• 2 associates and 5 joint ventures, whose unaudited interim financial results and other 
unaudited financial information include Group's share of net profit of Rs. 158.88 crore 
and Rs. 374.50 crore and Group's share of total comprehensive income of Rs. 152.25 
crore and Rs. 372. 99 crore for the quarter ended September 30, 2024 and for the period 
from April 01, 2024, to September 30, 2024, respectively, as considered in the 
Statement whose interim financial results and other unaudited financial information have 
been reviewed by their respective independent auditors. SR BC & CO LLP 
Chartered Accountants 
The Tata Power Company Limited 
Page 3 of 6 
8. Certain of these associates and joint ventures are located outside India whose financial results 
and other financial information have been prepared in accordance with accounting principles 
generally accepted in their respective countries and which have been reviewed by other 
auditors under generally accepted auditing standards applicable in their respective countries. 
The Holding Company's management has converted the financial results of such associates 
and joint ventures located outside India from accounting principles generally accepted in their 
respective countries to accounting principles generally accepted in India. We have reviewed 
these conversion adjustments made by the Holding Company's management. Our conclusion 
in so far as it relates to the balances and affairs of such associates and joint ventures located 
outside India is based on the report of other auditors and the conversion adjustments prepared 
by the management of the Holding Company and reviewed by us. 
9. The accompanying Statement includes unaudited interim financial results and other unaudited 
financial information in respect of: 
• 40 subsidiaries, whose interim financial results and other financial information reflect 
total assets of Rs. 2,266.32 crore as at September 30, 2024, and total revenues of Rs. 
27.01 crore and Rs. 46.97 crore, total net profit loss tax of Rs. 2.96 crore and Rs. 2.17 
crore, total comprehensive loss of Rs. 2. 96 crore and Rs. 2.17 crore, for the quarter 
ended September 30, 2024, and the period ended on that date respectively and net cash 
inflows of Rs. 27.42 crore for the period from April 01, 2024, to September 30, 2024. 
• 3 associates and 7 joint ventures, whose interim financial results includes the Group's 
share of net loss of Rs. 0.03 crore and Rs. 0.02 crore and Group's share of total 
comprehensive loss of Rs. 0.03 crore and Rs. 0.02 crore for the quarter ended September 
30, 2024 and for the period ended on that date respectively. 
The unaudited interim financial results and other unaudited financial information of the these 
subsidiaries, joint ventures, and associates have not been reviewed by their auditors and have 
been approved and furnished to us by the Management and our conclusion on the Statement, 
in so far as it relates to the affairs of these subsidiaries, joint ventures and associates, is based 
solely on such unaudited interim financial results and other unaudited financial information . 
According to the information and explanations given to us by the Management, these interim 
financial results are not material to the Group. 
Our conclusion on the Statement in respect of matters stated in para 7, 8 and 9 above is not 
modified with respect to our reliance on the work done and the reports of the other auditors 
and the financial results certified by the Management . 
For S R B C & CO LLP 
Chartered Accountants 
~~ 
per Vikram Mehta 
Partner 
Membership No.: 105938 
UDIN:24105938BKELZS9463 
Mumbai 
October 30, 2024 SR BC & CO LLP 
Chartered Accountants 
The Tata Power Company Limited 
Page 4 of 6 
Annexure - 1 to Auditor's Report 
No 
A 
1 
2 
3 
4 
5 
6 
7 
8 
9 
10 
11 
12 
13 
14 
15 
16 
17 
18 
19 
B 
1 
2 
3 
4 
5 
6 
7 
8 
9 
10 
11 
12 
13 
14 
15 
16 
17 18 
19 Name of Entities 
Subsidiaries (Direct) 
Tata Power Trading Company Limited 
Neice Limited 
Maithon Power Limited 
Tata Power Renewable Energy Limited 
TP Renewable Microgrid Limited 
Shira Investments Limited 
Bhivpuri Investments Limited 
Khopoli Investments Limited 
Tata Power Delhi Distribution Limited 
Tata Power Transmission Company Limited (formerly 
known as Tata Power Jamshedpur Distribution Limited) 
Tata Power International Pte. Limited 
TP Ajmer Distribution Limited 
TP Central Odisha Distribution Limited 
TP Western Odisha Distribution Limited 
TP Southern Odisha Distribution Limited 
TP Northern Odisha Distribution Limited 
TP Power Plus Limited 
TP Bikaner Ill Neemrana II Transmission Limited 
TP Jalpura Khurja Power Transmission Limited 
Subsidiaries (Indirect) 
NDPL Infra Limited 
Nivade Windfarms Limited 
Poolavadi Windfarms Limited 
TP Wind Power Limited* 
Walwhan Renewable Energy Limited* 
Clean Sustainable Solar Energy Private Limited* 
Dreisatz Mysolar24 Private Limited* 
Ml Mysolar24 Private Limited* 
Northwest Energy Private Limited* 
Solarsys Renewable Energy Private Limited* 
Walwhan Solar Energy GJ Limited* 
Walwhan Solar Raj Limited* 
Walwhan Solar BH Limited* 
Walwhan Solar MH Limited* 
Walwhan Wind RJ Limited* 
Walwhan Solar AP Limited* 
Walwhan Solar KA Limited* 
Walwhan Solar MP Limited* 
Walwhan Solar PB Limited* 
Walwhan Energy RJ Limited* 
Walwhan Solar TN Limited* Country of Incorporation 
India 
India India 
India 
India 
Singapore 
Mauritius 
Mauritius 
India 
India 
Singapore 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India India 
India 
India 
India 
India 
India 
India 
India 
India India SR 8 C & CO LLP 
Chartered Accountants 
The Tata Power Company Limited 
Page 5 of 6 
No 
22 
23 
24 
25 
26 
27 
28 
29 
30 
31 
32 
33 
34 
35 
36 
37 
38 
39 
40 
41 
42 
43 
44 
45 
46 
47 
48 
49 
50 
51 
52 
53 
54 
55 
56 
57 
58 
59 
60 
61 
62 Name of Entities 
Walwhan Solar RJ Limited* 
Walwhan Urja Anjar Limited* 
Chirasthayee Saurya Limited* 
Nelco Network Products Limited 
Vagarai Windfarm Limited 
Tata Power EV Charging Solutions Limited. (formerly 
known as TP Solapur Limited) 
TP Kirnali Limited • l 
Walwhan Urja India Limited* 
Far Eastern Natural Resources LLC (liquidated with w.e.f. 
November 22, 2023) 
Trust Energy Resources Pte. Limited 
TP Solar Limited 
TP Nanded Limited 
TP Green Nature Limited 
TP Adhrit Solar Limited 
TP Arya Saurya Limited 
TP Saurya Bandita Limited 
TP Ekadash Limited 
TP Solapur Solar Limited 
TP Akkalkot Renewable Limited 
TP Kirnali Solar Limited 
TP Saurya Limited 
Supa Windfarms Limited 
TP Roofurja Renewables Limited 
TP Solapur Saurya Limited 
Tata Power Solar Systems Limited* 
Tata Power Green Energy Limited 
TP Govardhan Creatives Limited 
TP Narmada Solar Limited 
TP Bhaskar Renewables Limited 
TP Atharva Solar Limited 
TP Viva Green Limited 
TP Vardhman Surya Limited 
TP Kaunteya Saurya Limited 
TP Alpha Limited 
TP Varun Limited 
TP Mercury Limited 
TP Saturn Limited 
TP Agastaya Limited 
TP Samaksh Limited 
TP Surya Limited 
TP Aboli Limited 
TP Magnolia Limited 
TP Gulmohar Limited Country of Incorporation 
India 
India 
India 
India 
India 
India 
India 
India 
Russia 
Singapore 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India India India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India SR BC & CO LLP 
Chartered Accountants 
The Tata Power Company Limited 
Page 6 of 6 
No Name of Entities 
65 TP Cypress Limited 
66 TP Orchid Limited 
67 TP Godavari Solar Limited 
68 TP Hrihaan Limited 
69 TP Paarthav Limited 
70 TP Vikas Limited 
71 TP Aakash Limited 
72 TP Marigold Limited 
73 TP Parivart Limited 
74 TP Adarsh Limited 
C Joint Ventures (Direct) 
1 
2 
3 
4 
5 Tubed Coal Mines Limited 
Mandakini Coal Company Limited 
Industrial Energy Limited 
Powerlinks Transmission Limited 
Dugar Hydro Power Limited 
D Joint Ventures (Indirect) 
1 
2 
3 
4 
5 
6 
7 
8 
9 
10 
11 PT Kaltim Prima Coal 
lndoCoal Resources (Cayman) Limited 
PT lndocoal Kaltim Resources 
Candice Investments Pte. Limited 
PT Nusa Tambang Pratama 
PT Marvel Capital Indonesia 
PT Dwikarya Prima Abadi 
PT Kalimantan Prima Power 
PT Baramulti Sukessarana Tbk 
lndoCoal KPC Resources (Cayman) Limited 
Resurgent Power Ventures Pte Limited 
E Associates (Direct) 
1 
2 
3 
4 
5 Tata Projects Limited 
Dagachhu Hydro Power Corporation Limited 
Yashmun Engineers Limited 
Brihat Trading Private Limited 
The Associated Building Company Limited 
F Associate (Indirect) 
1 Piscis Networks Private Limited Country of Incorporation 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
India 
Indonesia 
Cayman Islands 
Indonesia 
Singapore 
Indonesia 
Indonesia 
Indonesia 
Indonesia 
Indonesia 
Indonesia 
Singapore 
India 
Bhutan 
India 
India 
India 
India 
uring the period the above mentioned entities are merged with their holding company i.e. 
wer Renewable Energy Limited TATA POWER 
The Tata Power Company Limited 
Bombay House, 24 Homi Mody Street, Mumbai 400 001 
CIN : L28920MH1919PLC000567 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> e-mail: latapower@tatapower _com Website: www latapower com 
STATEMENT OF CONSOLIDATED FINANCIAL RESULTS FOR THE QUARTER AND HALF-YEAR ENDED 30TH SEPTEMBER, 2024 
Particulars 
1 Income 
Revenue from Operations (Refer Note 3) 
Other Income 
Total Income 
2. Expanses 
Cost of Power Purchased 
Cost of Fuel 
Transmission Charges 
Raw Material Consumed and Constructio n cost (Including Project Land and Sut>-contract ing cost) 
Purchase of Finished Goods and Spares 
Decrease/(lncrease) in Stock-in-Trade and Work-in-Progress 
Employee Benefits Expense 
Finance Costs 
DepreciatiOn and Amortisation Expenses 
Other Expenses 
Total Expenses 
3. Profit/(Loss) Before Regulatory Deferral Balances, Exceptional Items, Tax and Share of 
Profit of Associates and Joint Ventures (1·2) 
4. Movement in Regulatorv Deferral Balances (Net) 
Add/(Less): Net Movement in Regulatory Deferral Balances 
Addl(Less): Net Movement in Regulatory Deferral Balances in respect of earlier years (Refer Note 
2) 
Adc1/(Less): Deferred Tax Recoverable/ (Payable) (Refer Note 2) 
Total Movement in Re11ulatorv Deferral Balances (Net) 
5. Profit/(Loss) Before Exceptional Items, Tax and Share of Profit of Associates and Joint 
Ventures (3+4) 
6. Share of Profi1/(Loss) of Associates and Joint Ventures accounted for using the Equity Method 
7. Profit/(Loss) Before Exceptional Items and Tax (5+6) 
8. Add/(Less): Exceptlonal Items 
Gain on Dilution of Interest in an Associate 
Provision towards stamp duty on merger (Refer Nole 5) 
lmpairmenl of Goodwill on acquisition 
Profit on Sale of Subsidiaries and Joint ventures 
Total Exceptional Items 
9. Profit/(Loss) Before Tax (7+8) 
10 Tax Expense/(Credit) 
Current Tax (Refer Note 2) 
Current Tax in respect of earlier period 
Deferred Tax (Refer Note 2) 
Deferred Tax In respect of earlier period 
Tax impact of merger for earlier years (Refer Note 5) 
Total Tax Expense/(Credit) 
11. Net Profit/(Loss) for the Period (9-10) 
12. Other Comprehensive lncome/(Expenses) (Net of Tax) 
13 
14. 
15 
16. (I) Items that will not be raclasslfied to Profit or Loss 
lncome/(Expense) 
Tax relating to items of lncomel(Expense) 
Net Movement in Regulatory Deferral Balances 
Share of Associates and Joint Ventures accounted for using the Equity Melhod 
(II) Items that will be reclassified to Profit or Loss 
lncomel(Expense) 
Tax relating to items of lncome/(Expense) 
Share of Associates and Join1 Ventures accounted for using the Equity Method 
Total Other Comprehensive lncome/(Expenses) (Net of Tax) 
Total Comprehensive lncome/(Expenses) (11+12) 
Profi1/(Loss) for the Period attributable to: 
Equity holders of the Company 
Non-controlling Interest• 
Others Comprehensive lncome/(Expenses) attributab le to: 
Equity holders of the Company 
Non-controlling Interests 
Total Comprehensive lncome/(Expenses) attributab le to: 
Equity holders of lhe Company 
Non-controlling Interests 
Paid-up equity share capital 
{Face Value:~ 1/-per share) 
Olher Equity 
Earnings Per Equity Share (off 11· each) (f) (not annualised) 
(i) Before Net Movement in ReRUlatory Deferral Balances 
Basic 
Diluted 
(ii) After Net Movement in Regulatory Deferral Balances 
Basic 
Diluled 
IDENTIFICATION 
S RBC&CO LLP 
MUMBAI Ouorter ended 
30-Seo-24 I 30-Jun-24 
l Unaudited) (Unaudited) 
15,697 67 17,293.62 
51313 247.36 
16,210.80 17.540.98 
5,532.74 5,97113 
2,871.69 3,908 67 
323.06 35446 
522.04 1,051.04 
779 5.55 
33.54 (105.01) 
1,040 72 1,01362 
1,14310 1,17624 
986.69 972.89 
1.621.09 1,507.50 
14,082.46 15,856.09 
2,128.34 1,684.89 
(69718) (728 91) 
223.09 204.00 
23.54 40.95 
1450.551 1483.961 
1,677.79 1,200.93 
235 08 28941 
1,912.87 1,490.34 
. 
(14000) . 
{140.001 . 
1,772.87 1.490.34 
116.87 180,91 
(0 42) 055 
263-73 120 25 . 
29961 
679.79 301.71 
1,093.08 1,188.63 
(29.78) (13.98) 
7.33 5.30 
49.41 38.50 
(6.68) 5.06 
(2.14) (48.79) 
8,50 10.06 
28.53 (2.56) 
55.17 (6.39) 
1.148.25 1,182.24 
926.53 970.91 
166.55 217.72 
57.53 (1.71) 
(2.36) (4.6B) 
984.0G 96920 
164.19 213.04 
319.56 319.56 
3.68 3.90 
3.68 3.89 
2.90 3 04 
2.90 3 03 Half-vear enaea 
30-Set>-23 30-Set>-24 I 30-Seo-23 
(Unaudited) (Unaudited) I (Unaudited) 
,, crorel 
15,738_03 32,991.29 30,951 32 
29151 760.49 562.93 
16.029.54 33,751.78 31,514.25 
5,584.11 11,503.87 10,975 71 
3,57362 6,780.36 7,047.01 
29311 677.52 587 73 
1,017 45 1,573.08 2,007 55 
11 07 13.34 20 82 
(7000) (7147) (157 72) 
994.90 2,054.34 1,97004 
1,181 83 2,31934 2,403.24 
925.89 1,959 58 1,81933 
1,242.78 3,128.59 2,465.60 
14,754.76 29,938.55 29,139.31 
1,274.78 3,813.23 2,374.94 
(29215) (1.42609) (522 39) 
(2773) 427.09 (27.73) 
24.26 64.49 44.54 
(295.621 (934.511 (505.58) 
979.16 2,878.72 1,869.36 
25152 524.49 602.19 
1,230.68 3,403.21 2,471.55 
. 23468 
. (14000) . 
. 
'140.001 234.68 
1.230.68 3,263.21 2,706.23 
19398 297.78 35421 
(14 78) 0.13 (14 78) 
91,66 383.98 266.01 
(57.59) (57 59) 
299.61 
213.27 981.50 547.85 
1,017.41 2,281.71 2,158.38 
57.48 (43.76) 99.21 
2.94 12.63 3.09 
11.12 87.91 22.35 
179 (1.62) 0.57 
70.52 (50.93) (23.09) 
(7 35) 18.58 13.33 
36.49 25,97 29.17 
172.99 48.78 144.63 
1,190.40 2,330.49 2.303.01 
875.53 1.897.44 1,848.02 
141.88 384.27 310.36 
172.66 5582 150.71 
0.33 (7.04) (608) 
1,048.19 1,953.26 1,998.73 
142.21 377.23 30428 
319.56 319.56 319.56 
2.93 7.58 643 
2.93 7,57 643 
274 594 5 78 
274 5.93 578 Year ended 
31-Mar-24 
(Audited) 
61,448.90 
1,823.42 
63,272.32 
20.014 46 
14,130 47 
1,16869 
5,439.86 
3989 
(5178) 
4,036.09 
4,633.22 
3,786 37 
5.887.39 
59,084.66 
4,187.66 
5624 
7 34 
2985 
93.43 
4,281.09 
1,177.57 
5,458.66 
234 68 
(100.85) 
139.53 
273.36 
5,732.02 
87147 
(62.68) 
72585 
(82.72) 
1,451.92 
4,280.10 
291.49 
16.82 
175.64 
(10 56) 
(31.28) 
22.36 
3940 
503.87 
4,783.97 
3,696.25 
583.85 
512.95 
(9.08) 
4.209.20 
574.77 
319 56 
32,035.73 
11.08 
11.08 
1156 
1156 TATA POWER 
The Tata Power Company Limited 
Bombay House, 24 Homi Mody Street, Mumbai 400 001 
CIN: l28920MH1919PLC000567 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> e-mail: tatapower@tatapower com Website: www tatapower com 
CONSOLIDATED STATEMENT OF ASSETS AND LIABILITIES 
A. ASSETS 
1 Non-current Assets 
(a) Property, Plant and Equipment 
(b) Right of Use Assets 
(c) Capital Work-in-Progress 
(d) Goodwill 
(e) Other Intangible Assets Particulars 
(f) Investments accounted for using the Equity method 
(g) Financial Assets 
(i) Other Investments 
(ii) Trade Receivables 
(iii) Loans 
(iv) Finance Lease Receivables 
(v) Other Financial Assets 
(h) Non-current Tax Assets (Net) 
(i) Deferred Tax Assets (Net) 
0) Other Non-current Assets 
2 Current Assets 
(a) Inventories 
(b) Financial Assets 
(i) Investments 
(ii) Trade Receivables 
(iii) Unbilled Revenue 
(iv) Cash and Cash Equivalents 
(v) Bank Balances other than (iv) above 
(vi) Loans 
(vii) Finance Lease Receivables 
(viii) Other Financial Assets 
(c) Current Tax Assets (Net) 
(d) Other Current Assets 
Assets Classified as Held For Sale 
Total Assets before Regulatory Deferral Account 
Regulatory Deferral Account -Assets 
TOTAL ASSETS 
B. EQUITY AND LIABILITIES 
Equity 
(a) Equity Share Capital 
(b) Other Equity Total Non-current Assets 
Total Current Assets 
Equity attributable to Shareholders of the Company 
Non-controlling Interests 
Total Equity 
Liabilities 
1. Non-current Liabilities 
(a) Financial Liabilities 
(i) Borrowings 
(ia) Lease Liabilities 
(ii) Other Financial liabilities 
(b) Provisions 
(c) Deferred Tax Liabilities (Net) 
(d) Other Non-current Liabilities 
2. Current Liabilities 
(a) Financial Liabilities 
(i) Borrowings 
(ia) Lease Liabilities 
(ii) Acceptances (Refer Note 8) 
(iii) Trade Payables Total Non-current Liabilities 
(a) Total outstanding dues of micro enterprises and small enterprises 
(bl Total outstanding dues of creditors other than micro enterprises and small enterprises 
(iv) Other Financial Liabilities 
(b) Provisions 
(c) Current Tax Liabilities (Net) 
(d) Other Current Liabilities 
Total Current Liabilities 
Liabilities directly associated with Assets Classified as Held For Sale 
Total Liabilities before Regulatory Deferral Account 
Regulatoiy Deferral Account -Liability 
TOTAL EQUITY AND LIABILITIES 
BY ':~~n IUl:.1'411rl'-6AI IUN 
\. 
S RBC&CO LLP 
MUMBAI Asal 
30-Seo-24 
(Unaudited) 
62,528.79 
4,510.62 
14,305 TT 
1.757 46 
1,369 83 
13,069.77 
1,93415 
522,68 
2.25 
529 37 
1,798.82 
67503 
551.27 
6.295.08 
109,850 89 
4,417.59 
437.56 
6,876.66 
3,039.86 
2,629 72 
6,588.64 
1915 
69.79 
727 85 
1.847.81 
26,654.63 
1.218.01 
137.723.53 
7 406.51 
145,130.04 
319.56 
33,359.54 
33,679.10 
6 233.77 
39,912.87 
39,232.19 
3,854.27 
1,639.59 
2,054.78 
3,787.44 
12,087.05 
62,655.32 
14,759.49 
467,99 
4,908.44 
669.98 
8,453.84 
8,003.84 
468.21 
242.00 
3.925.41 
41,899.20 
113.56 
104,668.08 
549.09 
145,130.04 f crore 
Asat 
31-Mar-24 
/Audited) 
59,624 06 
4,368.75 
11,561 31 
1,757.46 
1,459 29 
12,983 51 
1,854 59 
273.29 
2.48 
561.66 
2,084.50 
585.89 
499 09 
5,173 57 
102,789.45 
4,419 63 
1,477 89 
7,401 69 
2,552.23 
3,324.34 
5,827.57 
11.14 
65.92 
471.48 
8.20 
1,704.30 
27,264.39 
1 200.99 
131,254.83 
8 298.66 
139,553.49 
319.56 
32,035.73 
32,355.29 
5,977.48 
JB,332.n 
37,392.25 
3,742.4ll 
1,507.55 
1,865.08 
2,n2.33 
11,973.08 
59.252 77 
12,087.56 
467,16 
5,317.22 
870.00 
8,451.37 
9,478.94 
294.34 
291.54 
3,879.84 
41.137.97 
113 56 
100.504.30 
716 42 
139,553.49 TATA POWER 
The Tata Power Company Limited 
Bombay House, 24 Homi Mody Street. Mumbai 400 001 
CIN No.: L28920MH1919PLC000567 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> e-mail: tatapower@tatapower .comWebsite :www.tatapower. com 
UNAUDITED CONSOLIDATED CASH FLOW STATEMENT 
Particulars 
A. Cash Flow from Operating Activities 
Profit/(loss) before tax from Operations 
Adjustments to reconcile Profit/(Loss ) Before Tax to Net Operating Cash Flows: 
Depreciation and Amortisation Expense 
Transfer to Contingency Reserve 
Gain on Dilution of Interest in an Associate 
(Gain)/Loss on disposal of Property, Plant and Equipment (net) 
Employees Stock Option Expenses 
Finance Cost (net of capitalisation) 
Interest Income 
Dividend Income 
Gain on sale of Current Investment measured at fair value through Profit and Loss 
Allowances for Doubtful Debts and Advances (net) 
Bad debts 
Provision for Warranties 
Amortisation of Service Line Contributions and Government Grant 
Provision for Stamp Duty on Merger 
Commission earned 
Share of Net Profit of Associates and Joint Ventures accounted for using the equity method 
Amortisation of Deferred Revenue 
Amortisation of Deferred Rent 
Provision for future foreseeable losses 
Net foreign exchange differences (unrealised) 
Adjustments for (increase) I decrease in Operating Assets: 
Inventories 
Trade Receivables 
Unbilled Revenue 
Finance Lease Receivables 
Loans-Current 
Loans-Non Current 
Other Current Assets 
Other Non-current Assets 
Other Financial Assets -Current 
Other Financial Assets -Non-current 
Regulatory Deferral Account -Assets 
Movement in Operating Assets 
Adjustments for increase I (decrease) in Operating Liabilities: 
Trade Payables 
Other Current Liabilities 
Other Non-current Liabilities 
Other Financial Liabilities -Current 
Other Financial Liabilities -Non-current 
Acceptances (Refer Note 8) 
Regulatory Deferral Account -Liability 
Current Provisions 
Non-current Provisions 
Movement in Operating Liabilities 
Cash Flow generated rfom/(used in) Operations 
Income-tax Paid (net of refund received) 
Net Cash Flows generated from/(used In) Operating Activities 
SIGNED FOR IDENTIFICATION 
BY '5v' 
SRBC&COLLP 
MUMBAI A For the Half-Year ended 
30th September. 2024 
3,263.21 
1,959.58 
8.00 
-
(0.84) 
9.59 
2,319.34 
(314.42) 
(320.71) 
(48.41) 
258.23 
7.78 
17.09 
(223.52) 
140.00 
(7.64) 
(524.49) 
(123.69) 
2.35 
2.38 
(10.06) 
3,150.56 
6,413.77 
9.35 
24.15 
(487.63) 
28.42 
(8.01) 
0.23 
7.74 
(337.67) 
(63.22) 
(56.84) 
980.06 
96.58 
(185.68) 
(65.80) 
66.43 
(407.50) 
108.53 
115.24 
(167.33) 
(94.38) 
189.70 
(440.79) 
6.069.56 
(110.04) 
5 959.52 ~ crore 
For the Half-Year ended 
30th September . 2023 
2,706.23 
1,819.33 
8.00 
(234.68) 
(4593) 
-
2,403.24 
(363.51) 
(16.28) 
(44.16) 
115.74 
1.19 
11.30 
(185.32) 
-
(6.37) 
(602.19) 
(74.39) 
1.59 
0.79 
(8.96) 
2.779.39 
5,485.62 
297.32 
(455.28) 
(1,201.78) 
(2.62) 
(8.16) 
0.19 
(27.63) 
(111.02) 
104.81 
57.67 
500.36 
(846.14) 
2,882.91 
(222.84) 
107.37 
1.78 
120.48 
(1,786.24) 
(32.81) 
(57.50) 
111.52 
1,124.67 
5,764.15 
(372.66) 
5 391.49 TATA POWER 
The Tata Power Company Limited 
Bombay House. 24 Homi Mody Street, Mumbai 400 001 
GIN No. : L28920MH1919PLC000567 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> e-mail: tatapower@tatapowe r.comWebsite :www.tatapower .com 
UNAUDITED CONSOLIDATED CASH FLOW STATEMENT 
Particulars 
B. Cash Flow from Investing Activities 
Capital expenditure on Property, Plant and Equipment {including capital advances) 
Proceeds from sale of Property, Plant and Equipment (including property, plant 
and equipment classified as held for sale) 
(Purchase)/ proceeds from sale of Investments in Mutual Funds(net ) 
Investment in Government Securities 
Purchase of Non-current Investments 
Buy Back of Non-current Investments 
Proceeds from sale of Non-current Investments (Including advance and 
investments classified as held for sale) 
Interest received 
Commission earned 
Dividend received 
(Increase)/ Decrease in Other non-current bank deposits 
(Increase)/ Decrease in Bank Balance not Considered as Cash and Cash Equivalents 
Net Cash Flow generated from/(used in) Investing Activities B 
C. Cash Flow from Financing Activities 
Proceeds from Issue of Shares including shares issued to Minority Shareholders 
Increase in Capital/Service Line Contributions and contribution from consumers 
Proceeds from Non-current Borrowings 
Repayment of Non-current Borrowings 
Proceeds/ (Repayment) from Current Borrowings 
Finance Cost Paid 
Payment of Lease Liability 
Dividend paid to equity holders of the Company 
Dividend paid to Non-controlling Interests 
Net Cash Flow generated from/(used in) Financing Activities 
Net Increase/ (Decrease) in Cash and Cash Equivalents 
Cash and Cash Equivalents as at 1st April (Opening Balance) 
Effect of Exchange Fluctuation on Cash and Cash Equivalents 
Cash and Cash Equivalents as at 30th September (Closing Balance) 
Notes: 
Cash and Cash Equivalents include: 
Cal Balances with banks 
(i) In Current Accounts 
(ii) In Deposit Accounts (with original maturity of three months or less) 
lb) Cheques on Hand 
/cl Cash on Hand 
(d) Bank Overdraft 
Total Cash and Cash Equivalents 
SIGNE~ F9R IDENTIFICATION 
BY \f" 
S RB C&CO LLP 
MUMBAI C 
(A+B+C) For the Half-Year ended 
30th September. 2024 
{10,134.82) 
67.39 
897.55 
{15.00) 
-
10.84 -
297.00 
7.64 
791.69 
342.69 
/757.19) 
(8,492.21) 
86.54 
987.28 
6,672.22 
(2,836.67) 
643.32 
(2,685.28) 
(241.28) 
{639.07) 
(170.78) 
1,816.28 
(716.41) 
3,143.85 
2.50 
2,429.94 
Asal 
30th Seotember . 2024 
1,221.74 
1,364.74 
30.92 
12.32 
(199.78l 
2,429.94 ~ crore 
For the Half-Year ended 
30th Seotember , 2023 
(5,001.88) 
65.50 
446.66 
(2.69) 
(13.78) 
43.78 
247.03 
361.04 
6.37 
1,073 85 
(189.86) 
401.48 
(2,562.50) 
36.35 
503.16 
6,678.91 
(5,981.27) 
(1,280.12) 
(2,464.86) 
(242.71) 
(639.07) 
(79.60) 
(3,469.21) 
(640.22) 
4,072.28 
3.30 
3,435.36 
~ crore 
As at 
30th Seotember. 2023 
2,264.62 
1,161.27 
16.94 
41.73 
(49.20) 
3,435.36 TATA POWER 
The Tata Power Company limited 
Bombay House, 24 Homi Mody Street, Mumbai 400 001 
CIN: L28920MH1919P LC000567 
Tel: (91 22) 6665 82B2 e-mail: tatapower@tatapower com Website: www tatapower .com 
CONSOLIDATED SEGMENT INFORMATION 
Quarter ended Half-vear ended 
Particulars 30-Sep-24 30-Jun-24 30-Sei>-23 30-Sei>-24 30-Seo-23 
(Unaudited) (Unaudited) (Unaudited) (Unaudited) (Unaudited) 
ri crorel 
Segment Revenue 
Generation (Refer Note 3) 4,309.24 5,216 68 4,973 .. 22 9,525.92 9,799 92 
Renewables 1.913.46 2,383.16 2,145.58 4.296.62 4,234 64 
Transmission and Distribution (Refer Note 2) 10.207 10 10,472.92 9.453.43 20,680.02 18,730.51 
Others 112.57 103.78 103.36 216 35 20843 
16,542 37 18,176 54 16,675 59 34,718.91 32,973 50 
Less: Inter Segment Revenue 
Generation (1,10012) (1,215 18) (1,099.53) (2,315.30) (2,294.93) 
Renewables (188.49) (146.76) (132.58) (335.25) (23418) 
Others /21.541 /20.781 /19.111 142.321 137.47) 
Total Seament Revenue# 15,232.22 16,793.82 15 424.37 32,026.04 30,406.92 
Segment Results 
Generation (Refer Note 3) 1.066 13 922.99 999.07 1,989.12 2,086.98 
Renewables 670 89 631.34 506 09 1,302.23 1,065 05 
Transmission and Distribution (Refer Note 2) 87566 877.54 617.58 1,753.20 1,192.52 
Others (29.30) 34.55 38.38 5 25 35.60 
Total Segment Results 2.583.38 2.466.42 2,161.12 5,049.80 4,380 15 
Less: Finance Costs (1,14310) (1,176 24) (1,181.83) (2,319 34) (2,403 24) 
Add/(Less) : Exceptional Item -Renewables (Refer Note 5) (140 00) -(140 00) -
Add/(Less): Exceptional Item -Unallocab le - - - - 234.68 
Add/(Less): Unallocable Income/ (Expenses) (Net) 472.59 200.16 251.39 672..75 494.64 
Profit/llossl Before Tax 1,772.87 1,490.34 1,230.68 3,263.21 2,706.23 
Segment Assets 
Generation 39,163.65 39,237.97 40,417.74 39,163.65 40,417 74 
Renewables 45,087.61 42,418.58 32,867.34 45,087.61 32,867.34 
Transmission and Distribution 43,762 89 44,097.46 39,388.38 43,762.89 39,388.38 
Others 1,723.03 1,755.27 1,613.93 1,723.03 1,613 93 
Unallocable • 15.392.86 14 810.41 17,818.96 15 392.86 17.818.96 
Total Assets 145,130.04 142,319.69 132,106.36 145,130.04 132,106.36 
Segment liabilities 
Generation 8,557.04 8,480.06 5,818.29 8,557.04 5,818.29 
Renewables 5,791.65 5,430.97 5,693.00 5,791.65 5,693 00 
Transmission and Distribution 26,712.94 27,223.44 24,573.57 26,712.94 24,573.57 
Others 140.24 127.15 115 11 140.24 115 11 
UnaRocable • 64.015.30 61,602.64 60,092.35 64.015.30 60,092 35 
Total Liabilities 105,217.17 102,864.26 96,292.32 105,217.17 96,292.32 Year ended 
31-Mar-24 
(Audited) 
19,613 61 
10,175.29 
36.205.82 
430.62 
66,425.34 
(4,474.62) 
(407.24) 
177.89) 
61.465.59 
3,649 07 
2,147.10 
2,489 49 
132.22 
8,417.88 
(4,633.22) 
(100,85) 
374 21 
1.674.00 
5,732.02 
39,315 88 
40,459.25 
42,059.90 
1,71614 
16.002.32 
139,553.49 
7,619.01 
8,029.60 
26,436.43 
141.85 
58.993.83 
101,220.72 
Generation: Comprises of generation of power from hydroelectric sources and thermal sources (coal, gas and oil) from plants owned and operated under lease arrangement and 
related ancillary services. It also comprises of coal -mining, trading, shipping and related infra business. 
Renewables: Comprises of generation of power from renewable energy sources i.e. wind and solar. It also comprises rooftop solar projects. electric vehicle charging stations, 
manufacturing of solar cell and module, EPC and maintenance services with respect to solar. 
Transmission and Distribution: Comprises of transmission and distribution network, sale of power 1o retail customers through distribution network and related anciHary 
services. It also comprises of power trading business. 
Others: Comprises of project management contracts/infrastructure management services, property development, lease rent of oil tanks and satellite communication . 
• Includes assets and related liabilities held for sale 
The Operating Segments have been reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker. 
# RECONCILIATION OF REVENUE 
Ouaner ended I Half-vear ended I 
Particulars 
Revenue from Operations 
Add/(less): Total Movement in Regulatory Deferral Balances (Net) 
Add/(Less): Unallocable Revenue 
Total Segment Revenue as reperted above 
SIGNEDn_:9R IDENTIFICATION 
BY \J" 
SR BC & CO LLP 
MUMBAI 30-Sep-24 30-Jun-24 
I Unaudited) I IUnauditedl I 
15,697,67 17,293.62 
(450.55) (483 96) 
114.90) 115.84) 
15,232.22 16,793.82 30-Sep-23 30-Sep-24 30-Sep-23 
runauditedl IUnaudjtedl /Unaudited) I 
It crorel 
15,738,03 32,991.29 30,951.32 
(295.62) (934.51) (505.58) 
(18.04) (30.74) r38.82l 
15,424.37 32,026.04 30,406.92 Year ended 
31-Mar-24 
IAuditedl 
61,448.90 
93.43 
176.74) 
61,465.59 TATA POWER 
The Tata Power Company limited 
Bombay House, 24 Homi Mody Street, Mumbai 400 001 
CIN : L28920MH1919PLC000567 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> e-mail: tatapower@latapower com Website: www latapower .com 
Additional inf01TT1alion pursuant lo Regulation 52(4) and Regulation 54 (2) of Securities and Exchange Board of India (listing Obligations and Disclosure Requirements) Regulations, 2015, as 
amended as al and for lhe quarter and half-year ended 30th September 2024 
Sr No Particulars Quarter ended Half-vear ended Year ended 
30-Seo-24 30-Jun-24 30-Seo-23 30-Sep.24 30-Seo-23 31-Mar-24 
(Unaudited) (Unaud~ed) (Unaudited) (Unaudited) /Unaudited) (Audited) 
1 Debi Equity Ratio (in times) (Refer note a) 147 1.45 1 48 1.47 148 1 41 
2 Debt Service Coverage Ratio (in times) (not annuaised ) (Refer Nole b) 1 59 1.29 078 144 086 0 85 
3 Interest Service Coverage Ratio (in times) (Refer Note c) 2.81 2.37 211 259 2.10 2 26 
4 Current Ratio (in limes) (Refer Noted) 0.74 0.80 076 074 0.76 0 78 
5 Long Term Debi to Working Capital (in times) (Refer Note e) (4376) 707.33 (24.06) (4376) (24.06) (50.06) 
6 Bad Debts to Accounts Receivable Ratio(%) (not annualised) (Refer Note f) 1.68% 1.57% 075% 3.53% 156% 663% 
7 Current liability Ratio (in times) (Refer Note g) 040 0.40 045 040 045 041 
8 Total Debts to Total Assets Ratio (in times) (Refer Note h) 041 0.40 040 041 040 039 
9 Debtors Turnover (in number or days) (Refer Note i) 77 70 70 68 67 68 
10 Inventory Turnover (in number of days) (Refer Note j) 88 63 52 71 58 59 
11 Operating Margin (%) (Refer Note k) 17% 14% 14% 15% 14% 13% 
12 Net Profit after Tax (t crore) 1,093.08 1,18863 1,017.41 2,281.71 2,158 38 4,280 10 
13 Net Profit Margin (%) including exceptional item (Refer Note I) 7% 7% 7% 7% 7% 7% 
14 Net Worth (t crore) (Refer Note m) 35,251.46 34,867.48 31,575.00 35,251.46 31,575.00 33,728 50 
15 Cap~al Redemption Reserve (t crore) 51447 514.47 51447 514.47 51447 514 47 
16 Debenture Redemolion Reserve (f crore) 36381 36381 443 23 36381 443.23 36381 
Notes: 
The following definitions have been considered for tile purpose of computation or ratios and other information : 
S,_No c~•"'• Formulae 
a) Debt Equity Ratio Total Debl111 
Total Equity121 
b) Debt Service Coverage Ratio Pcofit Befgre ExceQtional items & Tax+ Interest ExQenses + DeQreclalion & Amorl!sallon. !;;urront 
Ta>< Expense 
Interest expense + Scheduled principal repayment of long-term debt and lease liabilities during lhe 
perio,il'1 
C) Interest Service Coverage Ratio Profit Before E•ceptional Items and Tax • lnlerest E1!:P!1nse 
Interest Ex~ense 
d) Current RaUo Qycmat 61~til41 
Current LiabiliUes151 
e) Long Term Debt to Wori<ing Capital Long-Term Qeb11" 
Working Capilalm 
f) Bad Debts to Accounts Receivable Ratio Bad Deb1s1•1 
Averaae Trade Receivable 
g) Current Llabiity Ratio Qurrenl Uabilities1"' 
Total Uabllltii,s !O> 
h) Total Debts to Total Assets Ratio ~(1) 
Total Assets1'01 
i) Debtors Turnover Average Trade Receivable [induding Be!l!!!al!!!J! Balances wherever applicable! x number or dalr'• 
Revenue from Operations less Deferred Tex Recoverable/(Peyable) wherever applicable 
ll Inventory Tum over Avetage Inventories ex<:2QI Prooertv under QevelQl!ment x number of IIM 
Cost of Goods Soltr111 
k) Operating Margin (%) Ol!!lrating Profit {Profit !;!efore Ex!:!!J!lional Items and Tax+ Interest Expense • Olher Income} 
Revenue including Net Movement in Regulatory Deferral Balances 
I) Net Profit Margin including excepoonal item (%) Net Prolil alter Tax (inclucf!!!Q e•ceQtional item} 
Revenue induding Net Movement in Regulatory Deferral Balances 
m) Net Worth has been computed on lhe basis as slated in Clause 2 of lhe Securities and Exchange Board or India (Listing Obligations and Disclosure Requirements) Regulations, 2015 i.e. 
Net worth as defined in sul>-section (57) of section 2 or lhe Companies Act, 2013. 
(1) Total Debt: Long term borrowings (induding rurrent maturities or long term borrowings), lease liabilities (current and non current), short term borrowings and interest accrued on debts 
(2) Total Equity : Issued shi.-e capital, other equity and non-<:011trolling interest 
(3) For the purpose of computation, scheduled principal repayment or long term borrowings does not include prepayments (induding prepayment by exercise of call/put option). 
(4) Current Assets as per balance sheet, assets classified as held for sale and current portion or regulatory assets 
(5) Current Liabilities as per balance sheet, liabiities classified as held for sale and rurrent portion of regulatory liabilities 
(6) Long Term Debt: Long term borrowings (including current maturities of long lem, borrowings) , lease liabilities (current and non current) and interest accrued on these debts 
(7) Working Capital: Current assets. Current liabilities (excluding current maturities or long term debt, lease liability and interest a=ued on borrowings) 
(8) Bad debts include provision for doubtful debts 
(9) Total liabilities as per balance sheet. liabilities classified as held for sale and regulatory iabilities 
(10) Total Assets as per balance sheet, assets classified as held for sale and regulatory assets 
(11) Cost of Goods Sold: Cost of Fuel, Raw Material Consumed and Construction cost (lnduding Project Land and Sub-contracting cost), Purchase of Finished Goods and Spares, (increase)/ 
decrease in Stock~n-Trade and Work in Progress 
SIGNEt'f>R IDENTIFICATION 
BY \)-y 
S RB C & CO LLP 
MUMBAI NOTES TO THE CONSOLIDATED FINANCIAL RESULTS -Q2 FY25 
1. The above consolidated financial results of The Tata Power Company Limited ("the Holding Company"), its 
subsidiaries (together referred to as "Group"), associates and joint ventures were reviewed by the Audit 
Committee and approved by the Board of Directors at its meeting held on 30th October, 2024. 
2. The Hon'ble Delhi Electricity Regulatory Commission ("DERC") has passed a tariff true-up order upto FY20-
21 in respect of Tata Power Delhi Distribution Limited ("TPDDL"), a subsidiary company. Accordingly, Group 
has recognised regulatory deferral assets amounting to f 472 crore and recognised consequential tax expense 
of , 139 crore in the consolidated financial results for the half-year ended 30th September, 2024. Out of the 
above, regulatory deferral asset of t 234 crore and tax expense of t 71 crore was recognised in the quarter 
ended 3oth June 2024. 
3. The Holding Company is supplying power from the Mundra Power Plant based on the directions of Ministry of 
Power ("MoP") under Section 11 of the Electricity Act, 2003 since 16th April, 2023. Accordingly, the Holding 
Company has recognised revenue based on the Central Electricity Regulatory Commission ("CERC") Order 
dated 3rd January 2023. Further on 15th October, 2024 MoP has extended the term of said direction upto 31st 
December, 2024. 
4. Tata Projects Limited, an associate of the Group has assessed the cumulative effects of certain negative 
awards on claims amounting to t 305 crore (Tata Power's share (net of tax) amounting to f 85 crore) and 
believes that these claims are tenable and the Group has a strong case to succeed as per law. Management 
of the Associate has reassessed that no adjustments of the same are required on variable consideration in 
respect of such contracts based on expert and independent legal advice. 
5. a) During the quarter, The Hon'ble National Company Law Tribunal (NCL T) has approved the composite 
schemes of arrangement for merger of Walwhan Renewable Energy Limited (including its 19 subsidiaries) and 
TP Wind Power Limited with an appointed date of 1st April, 2022 and merger of Tata Power Solar Systems 
Limited and Chirasthaayee Saurya Limited with an appointed date of 1st April, 2023 (together referred to as 
"Transferor Companies") with Tata Power Renewable Energy Limited, subsidiary of the Holding Company 
(referred to as "Transferee Company or Company") under Section 230 to 232 of the Companies Act, 2023. 
b) Pursuant to the said mergers, during the quarter, Tata Power Renewable Energy Limited has recomputed 
the tax payable till 31st March, 2024 from the respective appointment dates and recognised net tax charge 
amounting to t 299.61 crore which mainly includes reversal of Minimum Alternate Tax Credit entitlement 
recognised by the certain Transferor Companies amounting to , 301.20 crore and impact of deferred tax on 
other temporary differences. 
c) Tata Power Renewable Energy Limited has estimated the impact of stamp duty payable pursuant to the 
above merger and recognised provision amounting to f 140 crore during the quarter and the same is disclosed 
as an exceptional item in the consolidated financial results. 
6. Subsequent to the quarter, the Holding Company has granted additional 35,26,090 (Thirty-five lakh twenty-six 
thousand ninety) employee stock options to the eligible employees of the Holding Company and its 
subsidiaries, at an exercise price oft 425.40 (Four hundred twenty-five rupees and forty paise) per option 
exercisable into equivalent equity shares of t1 each subject to fulfilment of vesting conditions, under 'The Tata 
Power Company Limited -Employee Stock Option Plan 2023', as approved by shareholders of the Holding 
Company on 25th September, 2023. 
IDENTIFICATION 
SR BC &CO LLP 
MUMBAI 7. In an earlier year, the Holding Company had entered into a coal supply agreement with Adaro International 
(Singapore) Ltd ("Adaro") for its Trombay plant, which required it to procure a certain quantity of coal annually. 
Adaro has claimed damages of USO 106 million for alleged breach of agreement by the Holding Company 
against which the Holding Company has filed a counterclaim for USO 229 million for losses suffered due to 
non-supply of coal by Adara. Both parties have initiated the arbitration process on the matter. The Holding 
Company has obtained a legal view based on which it does not anticipate any significant outflow on claims 
made by Adara and accordingly no provision has been considered . 
8. The Group has reassessed certain disclosures to provide users with a clearer assessment of the impact on 
liabilities, cash flows, and liquidity risks. Accordingly, interest-bearing short-term acceptances, in the nature of 
trade credits availed from banks and financial institutions for payments to suppliers, have been reclassified 
from 'Other Financial Liabilities' and disclosed as a separate line under 'Financial Liabilities'. 
9. Subsequent to the quarter, Ministry of Power has issued Electricity Distribution (Accounts and Additional 
Disclosure) Rules, 2024 ('the Rules') in pursuance of section 176(1) and 176(2)(z) of the Electricity Act, 2003 
read with second proviso to section 129 (1) of the Companies Act, 2013, which are applicable to Distribution 
Licensees . The Group is in the process of evaluating the implications of the Rules with respect to the 
recognition of revenue, provisioning for trade receivables and certain additional disclosures to be included in 
the financial statements . However, the Group has obtained a legal view that the Rules are required to be 
applied prospectively from the date of notification in the Official Gazette i.e 14th October, 2024 and accordingly 
there is no impact of the same on the financial results for the quarter and half year ended 30th September, 
2024. 
10. The standalone audited financial results of the Holding Company are available for Investors at 
www.tatapower .com, www.nseindia.com and www.bseindia.com. 
Date: 30th October, 2024 
SIGNED lor IDENTIFICATION 
BY '\JV 
S RB C &CO LLP 
MUMBAI G 
TATA For and on behalf of the Board of 
THE TATA POWER COMPANY LIMITED 
~~ 
PRAVEER SINHA 
CEO & Managing Director 
DIN 01785164 SR BC& COLLP 12th Floor, The Ruby 
29 Senapati Bapat Marg 
Dadar (West) Chartered Accountants 
Mumbai -400 028, India 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> 
Independent Auditor's Report on the Quarterly and Year to Date Audited Standalone Financial 
Results of the Company Pursuant to the Regulation 33 and 52 of the SEBI (Listing Obligations and 
Disclosure Requirements) Regulations, 2015 as amended 
To 
The Board of Directors of 
The Tata Power Company Limited 
Report on the audit of the Standalone Financial Results 
Opinion 
We have audited the accompanying statement of quarterly and year to date standalone financial results 
of The Tata Power Company Limited (the "Company"), for the quarter ended September 30, 2024 and 
the year to date results for the period from April 01, 2024 to September 30, 2024 (the "Statement"), 
attached herewith, being submitted by the Company pursuant to the requirement of Regulation 33 and 
52 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended (the 
"Listing Regulations"). 
In our opinion and to the best of our information and according to the explanations given to us, the 
Statement: 
i. is presented in accordance with the requirements of the Listing Regulations in this regard; 
and 
ii. gives a true and fair view in conformity with the recognition and measurement principles laid 
down in the applicable Indian Accounting Standards and other accounting principles generally 
accepted in India of the total comprehensive income (comprising of net profit and other 
comprehensive income) and other financial information of the Company for the quarter ended 
September 30, 2024 and year to date results for the period from April 01, 2024 to September 
30, 2024. 
Basis for Opinion 
We conducted our audit in accordance with the Standards on Auditing (SAs specified under 
section 143(10) of the Companies Act, 2013, as amended ("the Act"). Our responsibilities under those 
Standards are further described in the "Auditor's Responsibilities for the Audit of the Standalone 
Financial Results" section of our report. We are independent of the Company in accordance with the 
Code of Ethics issued by the Institute of Chartered Accountants of India together with the ethical 
requirements that are relevant to our audit of the financial results under the provisions of the Act and 
the Rules thereunder, and we have fulfilled our other ethical responsibilities in accordance with these 
requirements and the Code of Ethics. We believe that the audit evidence we have obtained is sufficient 
and appropriate to provide a basis for our opinion. 
Management's Responsibilities for the Standalone Financial Results 
These quarterly Standalone financial results as well as the year to date standalone financial results 
have been prepared on the basis of the interim condensed standalone financial statements . The 
Company's Board of Directors are responsible for the preparation of the Statement that gives a true 
and fair view of the net profit and other comprehensive income of the Company and other financial 
information in accordance with the recognition and measurement principles laid down in Indian 
Accounting Standard 34 (Ind AS -34), 'Interim Financial Reporting' prescribed under Section 133 of 
the Act read with relevant rules issued thereunder and other accounting principles generally accepted 
in India and in compliance with Regulation 33 and 52 of the Listing Regulations. This responsibility also 
~==::c-.J includes maintenance of adequate accounting records in accordance with the provisions of the Act for 
~rt.&~ eguarding of the assets of the Company and for preventing and detecting frauds and other 
'?~~ -t<o 
~( M MBA1)* ~\ JI!! 
~A\. .J* 
~~;~~VJ~ SR BC & CO LLP. a LImIted L1ab1l1ty Partnership with LLP Identity No AAB-4318 
Regd Office 22. Camac Street Block 'B', 3rd Floor, Kolkata-700 016 SR BC & CO LLP 
Chartered Accountants 
The Tata Power Company Limited 
Page 2 of 3 
irregularities; selection and application of appropriate accounting policies; making judgments and 
estimates that are reasonable and prudent; and the design, implementation and maintenance of 
adequate internal financial controls, that were operating effectively for ensuring the accuracy and 
completeness of the accounting records, relevant to the preparation and presentation of the Statement 
that give a true and fair view and are free from material misstatement, whether due to fraud or error. 
In preparing the Statement, the Board of Directors are responsible for assessing the Company's ability 
to continue as a going concern, disclosing, as applicable, matters related to going concern and using 
the going concern basis of accounting unless the Board of Directors either intends to liquidate the 
Company or to cease operations, or has no realistic alternative but to do so. 
The Board of Directors are also responsible for overseeing the Company's financial reporting process. 
Auditor's Responsibilities for the Audit of the Standalone Financial Results 
Our objectives are to obtain reasonable assurance about whether the Statement as a whole is free from 
material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our 
opinion. Reasonable assurance is a high level of assurance but is not a guarantee that an audit 
conducted in accordance with SAs will always detect a material misstatement when it exists. 
Misstatements can arise from fraud or error and are considered material if, individually or in the 
aggregate, they could reasonably be expected to influence the economic decisions of users taken on 
the basis of the Statement. 
As part of an audit in accordance with SAs, we exercise professional judgment and maintain 
professional skepticism throughout the audit. We also: 
• Identify and assess the risks of material misstatement of the Statement, whether due to fraud 
or error, design and perform audit procedures responsive to those risks, and obtain audit 
evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not 
detecting a material misstatement resulting from fraud is higher than for one resulting from 
error, as fraud may involve collusion, forgery, intentional omissions , misrepresentations, or the 
override of internal control. 
• Obtain an understanding of internal control relevant to the audit in order to design audit 
procedures that are appropriate in the circumstances but not for the purpose of expressing an 
opinion on the operating effectiveness of the company's internal control. 
• Evaluate the appropriateness of accounting policies used and the reasonableness of accounting 
estimates and related disclosures made by the Board of Directors . 
• Conclude on the appropriateness of the Board of Directors' use of the going concern basis of 
accounting and, based on the audit evidence obtained, whether a material uncertainty exists 
related to events or conditions that may cast significant doubt on the Company's ability to 
continue as a going concern. If we conclude that a material uncertainty exists, we are required 
to draw attention in our auditor's report to the related disclosures in the financial results or, if 
such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit 
evidence obtained up to the date of our auditor's report. However, future events or conditions 
may cause the Company to cease to continue as a going concern. 
• Evaluate the overall presentation, structure and content of the Statement, including the 
disclosures, and whether the Statement represents the underlying transactions and events in 
a manner that achieves fair presentation. 
We communicate with those charged with governance regarding, among other matters, the planned 
scope and timing of the audit and significant audit findings, including any significant deficiencies in 
nal control that we identify during our audit. SR BC & CO LLP 
Chartered Accountants 
The Tata Power Company Limited 
Page 3 of 3 
We also provide those charged with governance with a statement that we have complied with relevant 
ethical requirements regarding independence, and to communicate with them all relationships and 
other matters that may reasonably be thought to bear on our independence, and where applicable, 
related safeguards. 
For S R B C & CO LLP 
Chartered Accountants 
ICAI Firm Registration Number: 324982E/E300003 
per Vikram Mehta 
Partner 
Membership No.: 105938 
UDIN:24105938BKELZR7455 
Mumbai 
October 30, 2024 TATA POWER 
The Tata Power Company Limited 
Bombay House, 24 Homi Mody Street, Mumbai 400 001 
CIN: L28920MH1919PLC000567 
Te·I f91 2216665 8282 e mall' 1ata0owerllilIa1aoower com Website· www tataoower com 
STATEMENT OF STANDALONE AUDITED FINANCIAL RESULTS FOR THE QUARTER AND HALF YEAR ENDED 30TH SEPTEMBER, 2024 
Particulars 
1 Income 
Revenue fr<>m Operations (Refer Note 2) 
Other Income 
Total Income 
2 Expenses 
Cost of Power Purchased 
Cost of Fuel 
Transmission Charges 
Raw Material Consumed and Construction cost 
Employee Benefits Expense (net) 
Finance Costs 
Depreciation and Amortisation Expenses 
Other Expenses 
Total Expenses 
3 Profit/(Loss) Before Movement In Regulatory Deferral Balances and Tax (1-2) 
4 Net Movement in Regulatory Deferral Balances 
Add / (Less): Net Movement in Regulatory Deferral Balances 
Add / (Less): Net Movement in Regulatory Deferral Balances in respect of earlier years 
Add/ (Less): Deferred Tax Recoverable/(Payable) 
Total Net Movement In Regulatory Deferral Balances 
5 Profitl(Loss) Before Tax (3+4) 
6 Tax Expense/(Cradit) 
Current Tax 
Current Tax relating to earlier period 
Deferred Tax 
Deferred Tax relating to earlier period 
Total Tax Expense/(Credit) 
7. Net Profitl(Loss) for the Period (~) 
B Other Comprehensive lncome/(Expenses) 
Items that will not be reclassified to Profit or Loss 
Tax relating to items that will not be reclassified to Profrt or Loss 
Total Other Comprehensive lncome/(Expenses) (Net of Tax) 
9 Total Comprehensive lncome/(Expenses) (7+8) 
10. Paid-up Equity Share Capital (Face Value: f 1/-per share) 
11. Other Equity 
12. Earnings Per Equity Share (of ll' 1/-each) (ll') (not annualised) 
(i) Before Net Movement in Regulatory Deferral Balances 
Basic 
Diluted 
(ii) After Net Movement in Regulatory Deferral Balances 
Basic 
Diluted 
SIGNE~ Ff R IDENTIFICATION 
BY \j' 
S RBC&CO LLP 
MUMBAI Quarter ended Half year ended 
30-Sep-24 30-Jun-24 30-Sep-23 30-Sep-24 30-Sep--23 
(Audited) (Audited) (Audited) (Audited) (Audtted) 
(' in crore) 
4,889 44 5,77412 5,014.31 10,663.56 10,206.55 
808.15 764.97 234.42 1.573.12 677.85 
5,697.59 6,539.09 5,248.73 12,236.68 10,884.40 
348 05 40680 297.10 754.85 71143 
2,407.36 3,434 85 3,179.85 5,842,21 6,207 05 
108.40 110.93 69 25 219.33 138.51 
42.07 3 27 -4534 
19930 166.35 18405 36565 37448 
525.49 548 78 58760 1,074 27 1,185 36 
292.82 297 87 28665 59069 576 53 
31917 337 35 26360 65652 525.39 
4,242.66 5,306.20 4,868.10 9,548.86 9,718.75 
1,454.93 1,232.89 380.63 2,687.82 1,165.65 
(258 00) (279 00) 81.00 (537.00) (10700) - - -
11.60) 12.05) 0.19 13.65' 1 72 
(259.60) (281.05) 81.19 (540.65) (105.28) 
1,195.33 951.84 461.82 2,147.17 1,060.37 
-
(1776) (17.76) 
18672 21480 124,98 401.52 277.12 --15566) -155.66) 
186.72 214.80 51.56 401.52 203.70 
1,008.61 737.04 410.26 1,745.65 856.67 
2585 30.97 70.25 5682 123 99 
1.95 -2 07 1.9S 2.07 
27.80 30.97 72.32 58.77 126.06 
1,036.41 768.01 482.58 1,804.42 982.73 
319.56 319.56 319.56 319.56 319.56 
3.76 2.96 1.09 6.72 2.92 
3.76 2.96 1 09 6 72 2 92 
3.16 2.30 1.28 5.46 2.68 
3.15 2.30 1 28 5.46 2 68 Year ended 
31-Mar-24 
(Audited) 
20,093.36 
1.852.39 
21,945.75 
1,308 09 
12,285 31 
335 26 
147.26 
794.71 
2.257 45 
1,188.46 
1,322.10 
19,638.64 
2,307.11 
204.00 
6.77 
16.78\ 
203.99 
2,511.10 
-
(93.11) 
430.01 
r55 661 
281.24 
2,229.86 
493.53 
(455) 
488.98 
2,718.84 
319.56 
15,46810 
8.49 
6.49 
697 
6.97 TATA POWER 
The Tata Power Company Limited 
Bombay House, 24 Homi Mody Street, Mumbai 400 001 
Website: www.tatapower com 
CIN: L28920MH1919PLC000567 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> e-mail: tatapower@tatapower com Website: www.tatapower com 
AUDITED STANDALONE STATEMENT OF ASSETS AND LIABILITIES 
Particulars 
A. ASSETS 
Non-Current Assets 
a) Property, Plant and Equipment 
b) Right of Use Assets 
c) Capital Work-in-Progress 
d) Intangible Assets 
e) Financial Assets 
(i) Investments 
(ii) Trade Receivables 
(iii) Loans 
(iv) Rnance Lease Receivables 
(v) Other Financial Assets 
f) Non-Current Tax Assets 
g) Other Non-Current Assets 
Current Assets 
a) Inventories 
b) Financial Assets 
(i) Investments 
(ii) Trade Receivables 
(iii) Unbilled Revenue 
(iv) Cash and Cash Equivalents 
(v) Bank Balances Other than (iv) above 
(vi) Finance Lease Receivables 
(vii) Other Financial Assets 
c) Other Current Assets 
Assets Classified as Held For Sale 
Total Assets Before Regulatory Deferral Account 
Regulatory Deferral Account -Assets 
TOTAL -ASSETS 
I 
B. EQUITY AND LIABILITIES 
Equity 
a) Equity Share Capital 
b) Other Equity 
Liabilities 
Non-Current Liabilities 
a) Financial Liabilities 
(i) Borrowings 
(ia) Lease Liabilities 
(ii) Other Financial Liabilities 
b) Provisions 
c) Deferred Tax Liabilities (Net) 
d) Other Non-Current Liabilities 
Current Liabilities 
a) Financial Liabilities 
(i) Borrowings 
(ia) Lease Liabilities 
(ii) Acceptances (Refer Note 5) 
(iii) Trade Payables Total -Non-Current Assets 
Total -Current Assets 
Total -Equity 
Total -Non-Current Liabilities 
(a) Total outstanding dues of micro enterprises and small enterprises 
(b) Total outstanding dues of creditors other than micro enterprises 
and small enterprises 
(iv) Other Financial Liabilities 
b) Provisions 
c) Current Tax Liabilities 
d) Other Current Liabilities 
Total -Current Liabilities 
Liabilities directly associated with Assets Classified as Held For Sale 
Total Liabilrties 
TIFICATiON" TY AND LIABILITIES Asal 
30th Septembe r, 2024 
(Auditedl 
20,282 13 
2,831.32 
2,087.82 
20 08 
13.181.22 
241 19 
52.49 
437.12 
64.03 
265.61 
3 213.90 
42,676.91 
2,460 77 
250 03 
1,318 91 
136.43 
649.35 
106.72 
63.36 
95.13 
362.99 
5.443.69 
580.04 
48,700.64 
1,772.79 
50,473.43 
319.56 
16.643.07 
16,962.63 
12,577.29 
2,755.36 
48.39 
248_53 
1,395.76 
918.00 
17,943.33 
4,965.01 
370.71 
4.061.47 
70.79 
3,44319 
1,655.77 
37 87 
144.34 
704.76 
15,453 91 
113.56 
33.510.80 
50,473.43 fcrore 
Asal 
31st March, 2024 
/Audited\ 
-20,674 26 
2,848 02 
1,798 53 
19 99 
13,013 80 
-
4.25 
468.15 
80.84 
462 52 
2 941 25 
42.311.61 
2,119 53 
392.40 
1,582.37 
99.76 
599.25 
19.34 
59.95 
64.19 
415.07 
5,351.86 
580.04 
48.243.51 
2,245.44 
50,488.95 
319.56 
15 468.10 
15,787.66 
13,373.21 
2,731.50 
29,93 
280.70 
99619 
977.92 
18,389.45 
6,152.95 
354.86 
2,588.41 
129 12 
3,952.26 
2,244.96 
27 82 
129.24 
618 66 
16,198.28 
113.56 
34 701.29 
50,488.95 
SIGNED Fee, IOI BY ~ ,__ ___________________________ _ 
9v S R B C & CO LLP 
MUMBAI f ~ "\J>-.1A.o 
~ 
~ 
~ 
"-<°/1t11 J..~ -TATA POWER 
The Tata Power Company Limited 
Bombay House, 24 Homi Mody Street, Mumbai 400 001 
Website: www.tatapower.com 
CIN: L28920MH1919PLC000567 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> e-mail: tatapower@tatapower .com Website: www.tatapower.com 
AUDITED STANDALONE CASH FLOW STATEMENT 
A. Cash flow from Operating activities 
ProfiV(Loss) before tax Particulars 
Adjustments to reconcile profiV(loss) before tax to net operating cash flows: 
Depreciation and Amortisation Expense 
Interest Income 
Dividend income 
Finance Cost (net of capitalisation) 
(Gain)/Loss on Disposal of Property, Plant and Equipment (net) 
Amortisation of Deferred Rent Liability 
(Gain)/Loss on Sale of Current Investment measured at fair 
value through Profit and Loss 
Guarantee Commission from Subsidiaries and Joint Ventures 
Amortisation of Service Line Contributions 
Transfer to Statutory Consumer Reserve 
Allowance for Doubtful Debts and Advances (net) 
Impairment of Non-current Investments 
Ammortisation of Deferred Revenue 
Employees Stock Option Expenses 
Net foreign exchange differences (unrealised) 
Working Capital adjustments : 
Adjustments for (increase) I decrease in Operating Assets: 
Inventories 
Trade Receivables 
Finance Lease Receivables 
Loans -Non-Current 
Other Current Assets 
Other Non-Current Assets 
Unbilled Revenue 
Other Financial Assets -Current 
Other Financial Assets -Non-Current 
Regulatory Deferral Account -Assets 
Movement in Operating Assets 
Adjustments for increase / (decrease) in Operating Liabilities : 
Trade Payables 
Other Current Liabilities 
Other Non-Current Liabilities 
Current Provisions 
Non-Current Provisions 
Acceptances (Refer Note 5) 
Other Financial Liabilities -Current 
Other Financial Liabilities -Non Current 
Movemerrt in Operating Liabilities 
Cash flow generated frorn/(used in) operations 
Income Tax Paid (Net of Refund Received) 
Net Cash Flows generated from/(used in) Operating Activities 
SIGNED !9R IDENTIFICATION 
BY ~ 
S RBC&CO LLP 
MUMBA I A For lhe Half Year ended 
30th September , 2024 
(Audited) 
590.69 
(37.34) 
(1,491.02) 
1,074.27 
(12.56) 
0.49 
(20.32) 
(10.62) 
(4.39) 
8.00 
6.22 -
(101.64) 
3.51 
(0.14) 
(333.93) 
16.18 
27.62 
0.26 
105.20 
(274.01) 
(36.67) 
(28.42) 
16.86 
472.65 
(567.26) 
78.10 
(5 65) 
2.31 
(32.17) 
1,473.06 
(290.21) 
0.15 2,147.17 
5.15 
2,152.32 
(34.26) 
2,118.06 
658.33 
2,776.39 
213.18 
2,989.57 t crore 
For the Half Year ended 
3oth September, 2023 
(Audited) 
576.53 
(67.07) 
(537.52) 
1,185.36 
(47.42) 
-
(11.12) 
(13.84) 
(4.11) 
8.00 
(2.56) 
0.95 
(43.03) 
-
(9.33) 
740.83 
333.84 
1.70 
0.20 
(37.06) 
(105.00) 
(815.03) 
25.95 
11.73 
63.40 
2,101.19 
16.38 
(0.50) 
(1.73) 
2.35 
(1,786.24) 
(96.69) 
(1.87) 1,060.37 
1,034.84 
2,095 .. 21 
220.56 
2,315.77 
232.89 
2,548.66 
(36.50) 
2,512.16 TATA POWER 
The Tata Power Company Limited 
Bombay House. 24 Homi Mody Street, Mumbai 400 001 
Website: www.tatapower .com 
CIN: L28920MH1919PLC000567 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> e-mail: tatapower@tatapower .com Website: www.tatapower .com 
AUDITED STANDALONE CASH FLOW STATEMENT 
Particulars 
B. Cash flow from Investing Activities 
Capital Expenditure on Property, Plant and Equipment and Other Intangible Assets 
(including Capital Advances) 
Proceeds from Sale of Property, Plant and Equipment 
Investments in Subsidiary Companies 
Investments in Government Securities 
Procceeds on account of Share Reduction of Joint venture 
(Purchase of)/ Proceeds from Sale of Investments in Mutual Funds (net) 
Interest Received 
Loans given to Related Parties 
Loans repaid by Related Parties 
Dividend Received 
Guarantee Commiss ion received from Subsidiaries and Joint Ventures 
Bank Balance not considered as Cash and Cash Equivalents 
Net cash flow generated from/(used in) Investing Activities 
C. Cash Flow from Financing Activities 
Proceeds from Non-Current Borrowings 
Proceeds from Current Borrowings 
Repayment of Borrowings 
Interest paid 
Repayment of Bills Discounted 
Inter Corporate Deposit Taken 
Inter Corporate Deposit Repaid 
Increase in Capital/Service Line Contributions 
Dividend paid 
Payment of Lease Liability 
Net Cash Flow generated from/(used in) Financing Activities 
Net increase/(decrease) in cash and cash equivalents 
Cash and cash equivalents as at 1st April (Opening Balance) 
Cash and cash equivalents as at 30th September (Closing Balance) 
SIGNED [(}R IDENTIFICATION 
BY \J' 
SRBC& COLLP 
MUMBAI B 
C 
(A+B+C) For the Half Year ended 
30th September, 2024 
(Audited) 
(817.21) 
58.26 
(87.86) 
(15.00) 
-
162.69 
33.37 
(297.63) 
249.00 
1,491.02 
10.42 
(83.72) 
703.34 
225.00 
3,053.35 
(5,221.28) 
(865.43) -
-
(50.00) 
6.47 
(639.07) 
(151.85) 
(3,642.81) 
50.10 
599.25 
649.35 f crore 
For the Half Year ended 
30th September , 2023 
(Audited) 
(811.33) 
61.86 
(5.70) 
(2.69) 
7.25 
-
60.11 
-
-
950.09 
13.64 
(254.17} 
19.06 
5,065.51 
20,980.45 
(26,416.46) 
(1,170.15) 
(26.71) 
150.00 
(75.00) 
4.30 
(639.07) 
(159.39) 
(2,286.52) 
244.70 
274.47 
519.17 TATA POWER 
The Tata Power Company Limned 
Bombay House. 24 Homi Mody Street, Mumbai 400 001 
CIN: L28920MH1919PLC000567 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> e-mail: tatapower@tatapower com Website: www.tatapower com 
AUDITED STANDALONE SEGMENT INFORMATION 
Particulars Quarter ended Half year ended 
30-Sep-24 30-Jun-24 30-Sep-23 30-Sep-24 30-Sep-23 
!Audited! !Audited! (Audited) !Audited) !Audited! 
Cf in crore) 
Segment Revenue 
Generation (Refer Note 2) 3,526 38 4,393.03 4,215 73 7,919 41 8,201.62 
Transmission and Distribution 1,555 94 1,595 23 1,368.35 3,15117 2,875.32 
Others 6.37 6.50 5.66 12 87 11.59 
5,088.69 5,994 76 5,589.74 11,083 45 11,088.53 
(Less): Inter Segment Revenue -Generation 1495.401 (538.231 (531.31) (1,033 63) 11 063.211 
Total Segment Revenue(#) 4,593.29 5,456.53 5,058.43 10,049.82 10,025.32 
Segment Results 
Generation (Refer Note 2) 633 04 457 88 566.66 1,090.92 1,044.14. 
Transmission and Distribution 290.56 301.13 254.96 59169 525..21 
Others 1.07 0.80 0.66 1.87 1.14 
Total Segment Results 92467 759 81 822.28 1,684.48 1.570.49 
(Less): Finance Costs (525 49) (548.78) (587 60) (1,074 27) (1,185 36) 
Add/(Less): Unallocable lncome/(Expense) (Net) 79615 740 81 22714 1.536 96 675.24 
Profit/(Loss) Before Tax 1,195.33 951.84 461.82 2,147.17 1,060.37 
Segment Assets 
Generation 23,359 25 23,53312 23,063.34 23,359 25 23,063.34 
Transmission and Distribution 10,889 68 11,006.40 9,732.82 10,889 68 9,732.82 
Others 558.89 532.99 429.34 558.89 429.34 
Unallocable • 15,665 61 16,402.40 15 043 20 15.665 61 15.043.20 
Total Assets 50,473.43 51,474.91 48,268.70 50,473.43 48,268.70 
Segment Liabilities 
Generation 8,247.58 8.216 44 5,423 14 8,247.58 5,423 14 
Transmission and Distribution 1,742.71 1,817.89 1,623.20 1.742.71 1.623 20 
Others 31.28 30 90 15.74 31.28 15.74 
Unallocable • 23,489.23 24 849.06 27.163.37 23.489 23 27.163 37 
Total Liabilities 33,510.80 34,914.29 34,225.45 33,510.80 34,225.45 Year ended 
31-Mar-24 
!Audited) 
16,224 74 
5,909 41 
25.42 
22,159 57 
12.015.89) 
20,143.68 
1,798.25 
1.140.92 
4.25 
2,943 42 
{2,257.45) 
1,825.13 
2,511.10 
23,460.86 
10,899,87 
489.95 
15.638 27 
50,488.95 
7,186 17 
1,962 43 
37.07 
25.515.62 
34,701.29 
Generation: Comprises of generation of power from hydroelectric sources and thenmal sources (coal, gas and oil) from plants owned and operated under lease 
arrangement and related ancillary services. 
Transmission and Distribution: Comprises of transmission and distribution network, sale of power to retail customers through distribution network and related 
ancillary services. 
Others: Comprises of project management contracts/infrastructure management services, property development and lease rent of oil tanks. 
• Includes assets and liabilities considered as held for sale 
The Operating Segments have been reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker. 
# RECONCILIATION OF REVENUE 
Particulars 
Revenue from Operations (Refer Note 2) 
Add/(Less): Total Net Movement in Regulatory Deferral Balances 
Add/(Less) : Unallocable Revenue 
Total Segment Revenue as reported above 
SIGNE_D l9R IDENTIFICATION 
BY \J 
S RB C&CO LLP 
MUMBAI Quarter ended Half vear ended 
30-SeD-24 I 30-Jun-24 I 30-Sei>-23 I 30-SeD-24 I 30-Sei>-23 i 
(Audited) (Audited) (Audited) (Audited) (Audited) 
If in crorel 
4,889 44 5,T74.12 5,014 31 10,663.56 10,206.55 
(259.60) (281.05) 81.19 (540.65) (105.28) 
(36.55) (36.54) (37.07) (73.09) (75.95) 
4,593.29 5,456.53 5,058.43 10,049.82 10,025.32 Year ended 
31-Mar-24 
(Audited) 
20,093.36 
203.99 
(153.67) 
20,143.68 TATA POWER 
The Tala Power Company Limited 
Bombay House, 24 Homi Mody Street, Mumbai 400 001 
CIN: l28920MH19 19PLC000567 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> e-mail: talapower@latapowercom Website: www lalapower com 
Additional information pursuanl to Regulation 52(4) and Regulation 54 (2) of SeClJ'ities and Exchange Board of India (Listing Obligalior\s and Disclosure 
Requiremenls) Regulations, 2015, as amended as at and for !he Quarter and Half year ended 30th September 2024 
Sr No Particulars Quarter ended Ha~ year ended Year ended 
30-Seo-24 30-Jun-24 30-Seo-23 30-Sep-24 30-Sep-23 31-Mar-24 
(Audited) (Audited) (Audited) (Audited) (Audiled) (Audited) 
1 Debt Equily Ratio (in times) (Refer Note a) 123 1 36 178 123 178 145 
2 Debt Service Coverage ratio (in ~mes) (no! annualised) (Refer Note b) 1 83 112 042 141 056 067 
3 lnlerest Service Coverage Ratio (in times) (Refer Note c) 330 276 179 302 190 212 
4 Current Ralio (in times) (Refer Noted) 043 052 037 043 037 044 
5 long term Debi to W<llking Capilal (in times) (Refer Nole e) (4.29) (554) (421) (429) (421) (4 90) 
6 Bad debls to Accounts Receivable Ratio(%) (no! annualised) (Refer Note f) 023% 018% (009)% 043 % (015)% 052 % 
7 Current Liabilily Ratio (in times) (Refer Note g) 046 047 047 046 0.47 047 
8 Total Debts lo Total Assets (in times) (Refer Note h) 041 044 052 041 052 045 
9 Deblors Turnover (in number of days) (Refer Note i) 70 65 66 63 62 65 
10 lnvenlory Turnover (in number of days) (Refer Note j) 59 38 34 47 43 48 
11 Operaling Margin(',!,) (Refer Nole k) 20% 13% 16% 16',!, 16% 14% 
12 Net Profil after Tax ({ in Crore) t,00861 73704 41026 1,74565 85667 2,229 86 
13 Net Profit Margin(%) including exceptional item (Refer Note I) 22% 13% 8% 17% 8% 11% 
14 Net Worth ({ in Crore) (Refer Note m) 14,947 51 14,581 83 12,43590 14,947 51 12,435 90 13,828 80 
15 Capital Redemption Reserve ({ in Crore) 451 451 451 451 451 4 51 
16 Debenture Redemption Reserve (t in Crore) (Refer Nole n) 21645 21645 21645 21645 21645 21645 
17 Asset Cover Ratio (in times) (Refer Nole o) 
a) 9 15% Non convertible debenlures -Face value 250 Crore 407 394 3.74 407 374 3.86 
bl 9 15% Non convertible debenlures -Face value 350 Crore 407 394 374 407 3 74 386 
Notes: The following definitions have been considered for !he pupose of compulation of ratios and olher infomlatio n 
Sr. Ne Ratios Formulae 
a) Debt Equity Ralio lglal '2i:RI 111 
Total Shareholde(s Equily121 
b) Debi Service Coverage Ralio Ptcfit before §xce~tional items and tax• inlerest exaenses + deareciaho □ and anortisalion-a.nrent li"·fXEC!IE: 
c) 
d) 
e) 
fl 
g) 
n) Interest expense+ scheduled principal repayment of long-term debt and lease liabilities doong the period '" 
Interest Service Coverage Ratio 
Current Ratio 
Long T ..-m Debt to Working Capital 
Bad debts lo Accou,ts Receivable Ratio 
Current Liability Ralio 
'total Debls to iota! Assets Ratio 
SIGNED [Of IDENTIFICATION 
BY \P 
SR BC &CO LLP 
MUMBAI er!2ffl before exceational Items and lax .., interest o~se 
Interest expense 
CUC(§C!l it§:li~l~l4> 
Cooent liabilities(5J 
Lo[!g term debt161 
Woi1<ing capital 171 
eag deblS {I) 
Avcrogo trade rcccivoble 
~Y[[§Ct liit!llili§s 151 
Total liabillies "1 
TQISI debt;:z 111 
Total assets 1101 TATA POWER 
The Tata Power Company Limited 
Bombay House. 24 Homi Mody Street, Mumbai 400 001 
GIN: L28920MH1919PLC000567 
Tel: <PRESIDIO_ANONYMIZED_PHONE_NUMBER> e-mail: <PRESIDIO_ANONYMIZED_EMAIL_ADDRESS> Website: www tatapower .com 
Additional information pursuant to Regulation 52(4) and Regulation 54 (2) of Securities and Exchange Board of India (Listing Obligations and Disclosure 
Requirements) Regulations. 2015, as amended as at and for the Quarter and Half year ended 30th September 2024. 
i) 
j) 
k) 
I) 
m) 
n) 
o) 
1) 
2) 
3) 
4) 
5) 
6) 
7) 
8) 
9) 
10) 
11) 
12) 
13) Debtors Turnover Avera!l!l receivable {including R~ulaton,: balances wherever &l!QllcableJ x number of i;!air:s 
Revenue from operations less deferred tax recoverable/(payable) wherever applicable 
Inventory Turnover Average inventory x number or days 
Cost of Goods sold1111 
Operating Margin(%) Q11erating P1ofit [Profit before tax and exce11tional item+ lnteres! elC11ense -other income) 
Revenue including net movement in regulatory deferral balances 
Net Profit Margin(%) including Net Profit after tax (including exceptional item) 
exceptional item Revenue including net movement in regulatory deferral balances 
Net Worth has been computed on the basis as stated in Clause 2 of the Securities and Exchange Board of India (Listing Obligations and Disclosure 
Requirements) Regulations , 2015 i.e. Net worth as defined in sub-section (57) of section 2 of the Companies Act. 2013 
The Company was required to create Debenture Redemption Reserve (ORR) out of the profits which are available for payment of dividend for the purpose 
of redemption of debentures Pursuant to Companies (Share Capital and Debentures) Amendment Rules, 2019 dated August 16, 2019, the Company is not 
required to create ORR. Accordingly , the Company has not created ORR subsequent to the rules coming into effect 
Asset Cover Ratio Secured assets 11" 
Secured loans 1131 
As at September 30, 2024 
9.15% Non convertible debentures -Face value 250 Crores and 9 15% Non convertible debentures -Face value 350 Crores have been secured by a parl 
passu charge on movable fixed assets including movable machinery, machinery spares, tools and accessories but excluding vehicles, launches and 
barges, furniture, fixtures and office equipment present and future. 
Total Debt: Long term borrowings (including current maturities of long term borrowings), lease liabilities (current and non current), short term borrowings 
and interest accrued on these debts. 
Total Shareholder's Equity: Issued share capital and other equity. 
For the purpose of computation , scheduled principal repayment of long term borrowings does not include prepayments (including prepayment by exercise 
of call/put option). 
Current Assets as per balance sheet, assets held for sale and current portion of regulatory asset 
Current liab~ities as per balance sheet and liablities classified as held for sale. 
Long term debt: Long term borrowings (including current maturities of long term borrowings) . lease liabilities (current and non current). and interest 
accrued on these debts. 
Working Capital : Current assets -Current liabilities (excluding current maturities of long term debt, lease liability and interest accrued on long term 
borrowings) . 
Bad debts includes provision for doubtful debts 
Total liablities as per balance sheet liablities classified as held for sale and regulatory liabilities 
Total Assets as per balance sheet assets held for sale and regulatory assets. 
Cost of aoods sold : Cost of fuel and Raw material consumed and conslructian cost 
Secured assets : Written down value of secured assets, capital work in progress and machinery spares. 
Secured loans: Outstanding value of secured Non-convertible debentures and secured borrowings. 
SIGNE~O FOR IDENTIFICATION 
BY 
SR C &CO LLP 
MUMBAI NOTES TO THE STANDALONE FINANCIAL RESULTS -Q2 FY25 
1. The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting 
held on 30th October, 2024. 
2. The Company is supplying power from the Mundra Power Plant based on the directions of Ministry of Power 
('MoP') under Section 11 of the Electricity Act, 2003 since 16th April, 2023. Accordingly , the Company has 
recognised revenue based on the Central Electricity Regulatory Commission ('CERC') Order dated 3rd January 
2023. Further on 15th October, 2024 MoP has extended the term of said direction upto 31st December , 2024. 
3. Subsequent to the quarter the Company has granted additional 35,26,090 (Thirty-five lakh twenty-six thousand 
ninety) employee stock options to the eligible employees of the Company and its subsidiaries, at an exercise 
price of ~ 425.40 (Four hundred twenty-five rupees and forty paise) per option exercisable into equivalen t 
equity shares of t1 each subject to fulfilment of vesting conditions, under 'The Tata Power Company Limited -
Employee Stock Option Plan 2023, as approved by shareholders of the Company on 25111 September 2023. 
4. In an earlier year, the Company had entered into a coal supply agreement with Adaro International (Singapore) 
Ltd ("Adaro") for its Trombay plant, which required it to procure a certain quantity of coal annually. Adaro has 
claimed damages of USD 106 million for alleged breach of agreement by the Company against which the 
Company has filed a counterclaim for USD 229 million for losses suffered due to non-supply of coal by Adaro. 
Both parties have initiated the arbitration process on the matter. The Company has obtained a legal view based 
on which it does not anticipate any significant outflow on claims made by Adaro and accordingly no provision 
has been considered . 
5. The Company has reassessed certain disclosures to provide users with a clearer assessment of the impact on 
liabilities, cash flows, and liquidity risks. Accordingly, interest-bearing short-term acceptances , in the nature of 
trade credits availed from banks and financial institutions for payments to coal suppliers, have been reclassified 
from 'other financial liabilities' and disclosed as a separate line under financial liabilities. 
6. Subsequent to the quarter, Ministry of Power has issued Electricity Distribution (Accounts and Additional 
Disclosure) Rules, 2024 ('the Rules') in pursuance of section 176(1) and 176(2)(z) of the Electricity Act, 2003 
read with second proviso to section 129 (1) of the Companies Act, 2013, which are applicable to Distribution 
Licensees . Company is in the process of evaluating the implications of the Rules with respect to the recognition 
of revenue, provisioning for trade receivables and certain additional disclosures to be included in the financial 
statements. However, Company has obtained a legal view that the Rules are required to be applied 
prospectively from the date of notification in the Official Gazette i.e 14th October, 2024 and accordingly there 
is no impact of the same on the financial results for the quarter and half year ended 30th September, 2024. 
Date: 30th October, 2024. 
S RBC&CO LLP 
MUMBAI G 
TATA For and on behalf of the Board of 
THE TATA POWER COMPANY LIMITED ) __ 
PRAVEER SINHA 
CEO & Managing Director 
DIN 01785164 
    
Assistant: