Also trades as: TATAPOWER.BO (BSE) · $vol 1M

₹350.15 ($3.64)

-8.85 (-2.47%)

NSE · Utilities · Independent Power Producers · Tech Score Sell · Power 35 · ₹1.12T mcap · 1.68B float · 0.280% daily turnover

Overview Chart Financials Income Statement Cash Flow Balance Sheet Earnings

Analysis Technicals Weather Peers ETF Exposure

Financial Rating

Composite financial health rating (A+ to F) based on discounted cash flow valuation, return on equity, return on assets, debt-to-equity leverage, and relative P/E and P/B multiples.

D+

Oct 01, 2026

DCF

ROE

ROA

D/E

P/E

P/B

The Financial Rating evaluates six fundamental factors — discounted cash flow (DCF) valuation, return on equity (ROE), return on assets (ROA), debt-to-equity leverage (D/E), and relative price-to-earnings (P/E) and price-to-book (P/B) multiples — each scored 1–5. TATAPOWER.NS receives an overall rating of D+. Areas of concern: DCF (1/5), ROE (1/5), ROA (1/5), D/E (1/5), P/E (1/5), P/B (1/5).

Rating Change History

Date	From	To
2026-07-29	C	D+
2026-07-13	C+	C
2026-07-09	C	C+
2026-07-06	C+	C
2026-07-01	C	C+
2026-05-14	D+	C
2026-02-24	C-	D+
2026-02-24	D+	C-
2026-02-24	C-	D+
2026-02-06	D+	C-

InsiderStreet Scorecard

Proprietary multi-factor scorecard rating companies across seven fundamental dimensions — profitability, balance sheet strength, earnings quality, growth, value, momentum, and safety — each scored 0–100.

★ ★ ★ ★ ★ 27 Grade C

Profitability

Balance Sheet

Earnings Quality

Growth

Value

Momentum

Safety

Cash Flow

The InsiderStreet Scorecard rates companies across eight dimensions: Profitability (margins, ROA, ROE), Balance Sheet (leverage, liquidity, coverage), Earnings Quality (accruals, cash conversion), Growth (revenue and earnings trajectory), Value (P/E, P/B, earnings yield, Graham criteria), Momentum (revenue and earnings acceleration), Safety (Altman Z-Score risk adjustment), and Cash Flow (operating cash flow quality, FCF conversion, cash coverage). The overall score blends 35% quality, 35% value, and 30% momentum, with a penalty for distress-zone Altman scores. TATAPOWER.NS scores highest in Earnings Quality (83/100) and lowest in Profitability (28/100). A grade of C represents mixed fundamentals — strengths in some areas offset by weaknesses.

Risk & Quality Signals

Academic financial models used by institutional investors to assess bankruptcy risk, earnings manipulation, financial strength, and credit quality.

Altman Z-Score

1.33

Distress Zone

Piotroski F-Score

4/9

✓ ✓ ✗ ✓ ✗ ✓ ✗ ✗ ✗

Beneish M-Score

-2.79

Unlikely Manipulator

Ohlson O-Score

-8.38

Bankruptcy prob: 0.0%

Low Risk

Credit Rating

B+

Score: 30.6/100

Trend: Deteriorating

Earnings Quality

100/100

OCF/NI: 2.09x

Accruals: -2.5%

The Altman Z-Score (1968) combines five ratios — working capital, retained earnings, EBIT, market value of equity, and sales, all relative to total assets or liabilities — into a single bankruptcy predictor. TATAPOWER.NS scores 1.33, placing it in the Distress Zone (safe > 2.99, distress < 1.81). Historically, companies in this range face elevated bankruptcy risk. The Piotroski F-Score (2000) is a 9-point binary checklist — four profitability tests (positive ROA, positive cash flow, improving ROA, cash flow exceeding net income), three leverage tests (declining debt ratio, improving current ratio, no share dilution), and two efficiency tests (improving gross margin, improving asset turnover). Each pass scores 1 point. TATAPOWER.NS scores 4/9, indicating moderate financial health — some areas of strength offset by weaknesses in others. The Beneish M-Score (1999) is an 8-variable model that detects earnings manipulation by comparing year-over-year changes in receivables, gross margins, asset quality, sales growth, depreciation, SG&A, leverage, and accruals. Scores above −1.78 statistically resemble past manipulators. TATAPOWER.NS's score of -2.79 falls below this threshold, suggesting earnings are unlikely to be manipulated. The Ohlson O-Score (1980) is a 9-variable logistic regression that estimates bankruptcy probability using firm size, leverage, working capital, current ratio, profitability (ROA), cash flow coverage, negative equity flag, consecutive losses flag, and earnings trajectory. The raw score is converted to a probability via logistic transformation. TATAPOWER.NS's implied 0.0% bankruptcy probability is well within safe territory. Our Credit Rating model scores companies on five weighted components — solvency (30%), earning power (25%), leverage (20%), liquidity (15%), and cash flow quality (10%) — then blends the absolute score with sector and industry peer rankings. For companies with large buyback programs, equity is adjusted by adding back cumulative 5-year repurchases (capped at 80% of FCF generated) to avoid penalizing shareholder-friendly capital allocation. TATAPOWER.NS receives an estimated rating of B+ (score: 30.6/100), with a deteriorating trend. The Earnings Quality score measures how well reported earnings are backed by real cash. It evaluates the operating cash flow to net income ratio (OCF/NI ≥ 1.0 means every dollar of earnings is cash-backed) and the accruals ratio (the gap between earnings and cash flow relative to assets — lower is better). TATAPOWER.NS's score of 100/100 is high — cash flows strongly support reported earnings.

Valuation

Key valuation multiples comparing the stock's market price to its earnings, revenue, book value, and cash flows. Lower multiples may indicate relative undervaluation versus peers.

P/E

28.94x

PEG

-6.22x

P/S

1.76x

P/B

2.83x

P/FCF

-10.93x

P/OCF

15.52x

EV/EBITDA

11.35x

EV/Revenue

2.98x

EV/EBIT

15.80x

EV/FCF

-16.77x

Earnings Yield

3.09%

FCF Yield

-9.15%

Shareholder Yield

1.00%

Graham Number

$180.14

Equity-based multiples (P/E, P/B, P/FCF) compare the stock price to per-share fundamentals and are affected by capital structure. Enterprise value multiples (EV/EBITDA, EV/Revenue, EV/FCF) strip out debt and cash, making them more useful for cross-company comparisons regardless of how companies are financed. The Graham Number — √(22.5 × EPS × Book Value) — is Benjamin Graham's formula for the maximum price a defensive investor should pay. At 28.9x earnings, TATAPOWER.NS commands a growth premium. Graham's intrinsic value formula yields $180.14 per share, 94% below the current price.

DuPont Decomposition (5-Factor)

The 5-factor DuPont framework breaks Return on Equity into its component drivers — tax efficiency, interest burden, operating profitability, asset utilization, and financial leverage — to reveal what truly drives shareholder returns.

Tax Burden

0.565

NI / EBT

Interest Burden

0.563

EBT / EBIT

EBIT Margin

0.189

EBIT / Rev

Asset Turnover

0.376

Rev / Assets

Equity Multiplier

4.399

Assets / Equity

ROE

9.9%

The 5-factor DuPont identity decomposes ROE as: Tax Burden × Interest Burden × EBIT Margin × Asset Turnover × Equity Multiplier = ROE. This reveals whether returns are driven by operating performance, financial leverage, or tax efficiency — three very different sources of profitability. TATAPOWER.NS's ROE of 9.9% is driven by financial leverage (equity multiplier: 4.40x). Note: high leverage means ROE is amplified by debt rather than operational performance. A tax burden ratio of 0.56 suggests the company retains less than 60% of pre-tax earnings after taxes.

Graham-Dodd Adjusted Valuation

Our adaptation of Graham's growth formula (Fair P/E = 8.5 + 2g) from The Intelligent Investor. The classic version relies on analyst growth projections, which can be unreliable. This adjusted model substitutes the company's realized 3-year EPS CAGR — a backward-looking, verifiable measure of actual earnings power — grounding the valuation in demonstrated performance rather than forecasts.

Two adjustments we make, and why. Growth is capped at 15%. Graham defined g as expected growth over the next seven to ten years, not last year's rate. Across US companies since 1994 the median realized 7-year EPS growth is 5–8% regardless of how fast a company grew beforehand, and of 4,457 company-quarters that grew faster than 200%, none sustained it. Uncapped, the formula assigned fair multiples in the hundreds to companies that had never held that rate — and scored worse than simply reading the P/E. Capped, it carries real information. The verdict has three states, not two. Tested over 377,249 stock-months, this ratio only separates outcomes at its extremes: below 0.25 beat the universe by 1.3 points a year, above 3.0 lagged by 2.7, and everything in between sat inside a one-point band. Rather than call two-thirds of the market "undervalued" on a threshold of 1.0, we say Neutral where the model cannot tell — which is most of the time.

Adj. Growth Rate

5.37%

Fair P/E

19.25x

Intrinsic Value

$225.20

Price/Value

1.68x

Margin of Safety

-68.18%

Premium

68.18%

Assessment

Neutral

Graham's classic formula uses analyst-projected growth to estimate a fair P/E (8.5 + 2g). Our adjusted version replaces that projection with TATAPOWER.NS's realized 5.4% 3-year EPS CAGR, capped at 15% — demonstrated performance rather than forecasts, held to a rate companies have historically sustained. TATAPOWER.NS trades at a 68% premium to its adjusted intrinsic value of $225.20, suggesting the market is pricing in future growth beyond what historical earnings support. The adjusted fair P/E of 19.2x compares to the current market P/E of 28.9x.

Profitability Trends

Historical profitability ratios tracking how efficiently the company converts revenue into returns for shareholders over time.

Leverage & Solvency Trends

Debt and liquidity metrics showing the company's financial leverage and ability to meet short-term and long-term obligations.

Efficiency & Working Capital Trends

Operating efficiency metrics measuring how quickly the company converts inventory to sales, collects receivables, and manages its cash conversion cycle.

Growth Trends (YoY %)

Year-over-year growth rates for key financial metrics, showing the trajectory of revenue, earnings, and cash flow generation.

Earnings Stability

R-squared of linear regression measuring how predictably revenue, earnings, and margins follow a trend over the trailing 5 years. 1.0 = perfectly predictable; lower values indicate erratic or cyclical behavior.

Monte Carlo Price Simulation

Geometric Brownian Motion with 1,000 antithetic paths over 1 year, seeded from 1800 days of historical volatility. Percentile bands show the range of statistically plausible outcomes — this is a statistical model, not a forecast.

Current Price

$350.15

Median 1Y

$430.60

5th Pctile

$247.10

95th Pctile

$747.80

Ann. Volatility

35.7%

25th–75th percentile 5th–95th percentile Median path Historical

All Ratios & Metrics

Complete fundamental data with up to 20 periods of history, sparkline trends, and current values across 13 categories and 130+ financial metrics.

Profitability

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
ROE	6.3%	6.8%	7.6%	7.8%	9.6%	10.8%	13.0%	13.0%	13.7%	12.8%	12.8%	12.1%	12.1%	11.7%	12.0%	11.6%	11.9%	11.4%	10.6%	9.9%	9.93%
ROA	1.4%	1.5%	1.6%	1.6%	2.0%	2.3%	2.7%	2.8%	2.9%	2.8%	2.8%	2.8%	2.8%	2.7%	2.8%	2.7%	2.7%	2.6%	2.5%	2.3%	2.26%
ROIC	10.4%	10.8%	11.0%	8.5%	10.2%	9.9%	10.1%	11.6%	12.7%	14.3%	15.5%	14.2%	15.3%	13.3%	14.6%	16.1%	16.5%	12.2%	9.6%	8.2%	8.19%
ROCE	7.1%	6.6%	6.4%	6.1%	5.2%	5.0%	5.8%	5.5%	6.9%	7.8%	7.8%	7.2%	7.7%	8.0%	8.7%	9.0%	9.3%	8.6%	8.9%	8.7%	8.66%
Gross Margin	39.3%	34.0%	33.0%	22.7%	26.7%	28.3%	33.6%	21.6%	33.8%	33.9%	33.3%	21.2%	35.3%	40.8%	39.6%	24.5%	38.3%	39.8%	26.4%	23.7%	23.71%
Operating Margin	31.9%	25.8%	24.1%	13.7%	20.2%	21.8%	27.1%	13.5%	27.4%	27.5%	26.6%	13.3%	29.5%	34.2%	32.7%	16.0%	31.9%	13.8%	13.2%	8.9%	8.85%
Net Margin	3.9%	4.3%	3.9%	4.2%	5.5%	5.8%	6.7%	6.2%	6.4%	5.6%	6.5%	5.6%	5.6%	5.9%	6.7%	6.1%	5.9%	5.9%	5.5%	6.7%	6.68%
EBITDA Margin	22.1%	16.8%	13.8%	18.8%	11.0%	12.5%	15.7%	17.2%	18.8%	19.5%	15.7%	14.1%	20.2%	23.8%	20.8%	19.0%	21.9%	26.8%	28.0%	29.3%	29.35%
FCF Margin	14.2%	13.6%	12.5%	8.7%	4.8%	5.2%	5.7%	9.2%	12.6%	12.5%	12.6%	8.6%	5.3%	2.0%	-1.1%	-2.6%	-4.0%	-12.9%	-14.7%	-17.8%	-17.78%
OCF Margin	21.7%	21.5%	20.3%	18.6%	15.9%	13.8%	12.3%	12.5%	12.6%	12.5%	12.6%	14.1%	15.7%	17.8%	19.6%	19.3%	19.1%	15.6%	16.0%	12.5%	12.52%
ROE 3Y Avg	snapshot only																				10.65%
ROE 5Y Avg	snapshot only																				10.26%
ROA 3Y Avg	snapshot only																				2.44%
ROIC 3Y Avg	snapshot only																				5.43%
ROIC Economic	snapshot only																				7.23%
Cash ROA	snapshot only																				4.46%
Cash ROIC	snapshot only																				7.50%
CROIC	snapshot only																				-10.65%
NOPAT Margin	snapshot only																				13.67%
Pretax Margin	snapshot only																				10.62%
R&D / Revenue	snapshot only																				0.00%
SGA / Revenue	snapshot only																				8.35%
SBC / Revenue	snapshot only																				0.05%

Valuation

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
P/E Ratio	30.20	35.43	43.95	44.47	30.83	27.85	22.19	18.65	20.84	24.25	30.64	35.21	37.81	40.92	32.66	30.06	31.98	30.61	31.97	32.37	28.938
P/S Ratio	1.09	1.36	1.75	1.82	1.40	1.38	1.24	1.13	1.31	1.50	1.89	2.12	2.20	2.41	1.94	1.82	1.96	1.88	1.88	1.94	1.763
P/B Ratio	1.77	2.42	3.37	3.45	2.95	2.76	2.65	2.16	2.54	2.87	3.64	4.02	4.32	4.55	3.71	3.32	3.61	3.29	3.22	3.07	2.835
P/FCF	7.71	10.04	14.00	20.94	29.09	26.54	21.96	12.22	10.43	12.03	14.93	24.52	41.88	117.91	-169.51	-70.20	-48.72	-14.54	-12.77	-10.93	-10.928
P/OCF	5.04	6.36	8.59	9.76	8.80	9.96	10.10	9.01	10.43	12.03	14.93	15.06	13.97	13.57	9.91	9.46	10.27	12.06	11.76	15.52	15.519
EV/EBITDA	10.88	13.58	16.73	15.99	15.76	16.24	14.39	13.33	12.68	12.42	14.54	16.63	16.54	17.57	14.08	12.37	12.72	12.83	12.05	11.35	11.355
EV/Revenue	2.21	2.53	2.82	2.85	2.34	2.24	2.06	1.86	2.04	2.22	2.60	2.83	2.89	3.26	2.78	2.58	2.71	2.82	2.84	2.98	2.981
EV/EBIT	16.61	21.66	27.08	26.81	28.88	29.94	25.22	22.36	19.66	18.18	21.44	24.68	24.12	25.19	19.76	16.98	17.39	17.65	16.77	15.80	15.805
EV/FCF	15.57	18.60	22.56	32.88	48.51	43.19	36.32	20.17	16.19	17.74	20.53	32.81	55.07	159.11	-242.23	-99.49	-67.42	-21.87	-19.36	-16.77	-16.766
Earnings Yield	3.3%	2.8%	2.3%	2.2%	3.2%	3.6%	4.5%	5.4%	4.8%	4.1%	3.3%	2.8%	2.6%	2.4%	3.1%	3.3%	3.1%	3.3%	3.1%	3.1%	3.09%
FCF Yield	13.0%	10.0%	7.1%	4.8%	3.4%	3.8%	4.6%	8.2%	9.6%	8.3%	6.7%	4.1%	2.4%	0.8%	-0.6%	-1.4%	-2.1%	-6.9%	-7.8%	-9.2%	-9.15%
Price/Tangible Book	snapshot only																				3.317
EV/OCF	snapshot only																				23.809
EV/Gross Profit	snapshot only																				9.157
Acquirers Multiple	snapshot only																				16.823
Shareholder Yield	snapshot only																				1.00%
Graham Number	snapshot only																				$180.14

Leverage & Solvency

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
Current Ratio	0.62	0.54	0.54	0.64	0.64	0.66	0.66	0.71	0.71	0.73	0.73	0.69	0.69	0.67	0.67	0.66	0.66	0.75	0.75	0.78	0.779
Quick Ratio	0.56	0.48	0.48	0.53	0.53	0.56	0.56	0.62	0.62	0.64	0.64	0.58	0.58	0.56	0.56	0.56	0.56	0.62	0.62	0.65	0.649
Debt/Equity	2.09	2.31	2.31	2.28	2.28	2.07	2.07	1.84	1.84	1.74	1.74	1.69	1.69	1.88	1.88	1.75	1.75	1.98	1.98	2.02	2.022
Net Debt/Equity	1.81	2.06	2.06	1.97	1.97	1.73	1.73	1.40	1.40	1.36	1.36	1.36	1.36	1.59	1.59	1.38	1.38	1.66	1.66	1.64	1.642
Debt/Assets	0.47	0.47	0.47	0.45	0.45	0.44	0.44	0.41	0.41	0.40	0.40	0.39	0.39	0.44	0.44	0.40	0.40	0.46	0.46	0.46	0.455
Debt/EBITDA	6.36	6.98	7.10	6.73	7.32	7.50	6.82	6.87	5.90	5.11	5.06	5.22	4.92	5.37	4.99	4.60	4.45	5.14	4.90	4.87	4.869
Net Debt/EBITDA	5.49	6.25	6.35	5.81	6.31	6.26	5.69	5.25	4.51	4.00	3.96	4.20	3.96	4.55	4.23	3.64	3.53	4.30	4.10	3.95	3.954
Interest Coverage	1.38	1.31	1.27	1.26	1.04	1.02	1.14	1.05	1.27	1.50	1.50	1.52	1.66	1.81	1.95	2.12	2.15	2.12	2.12	2.24	2.240
Equity Multiplier	4.43	4.88	4.88	5.03	5.03	4.73	4.73	4.46	4.46	4.38	4.38	4.31	4.31	4.31	4.31	4.36	4.36	4.35	4.35	4.44	4.438
Cash Ratio	snapshot only																				0.382
Debt Service Coverage	snapshot only																				3.117
Cash to Debt	snapshot only																				0.188
FCF to Debt	snapshot only																				-0.139
Defensive Interval	snapshot only																				881.9 days

Efficiency & Turnover

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
Asset Turnover	0.38	0.38	0.41	0.40	0.45	0.46	0.48	0.46	0.46	0.45	0.46	0.46	0.47	0.46	0.46	0.44	0.45	0.43	0.42	0.38	0.376
Inventory Turnover	13.10	12.03	13.29	9.51	11.01	11.02	11.63	9.74	9.61	9.84	9.94	10.22	10.49	10.58	10.46	9.49	9.48	8.83	9.03	8.70	8.701
Receivables Turnover	5.97	7.43	8.08	6.63	7.34	7.06	7.50	8.52	8.63	7.10	7.16	7.15	7.39	7.31	7.40	8.21	8.30	7.87	7.70	9.62	9.622
Payables Turnover	3.89	4.02	4.44	3.30	3.82	4.27	4.50	4.46	4.40	3.84	3.87	5.11	5.24	4.40	4.35	4.70	4.69	5.23	5.35	4.29	4.288
DSO	61	49	45	55	50	52	49	43	42	51	51	51	49	50	49	44	44	46	47	38	37.9 days
DIO	28	30	27	38	33	33	31	37	38	37	37	36	35	34	35	38	39	41	40	42	42.0 days
DPO	94	91	82	110	95	86	81	82	83	95	94	71	70	83	84	78	78	70	68	85	85.1 days
Cash Conversion Cycle	-5	-11	-10	-17	-13	-1	-1	-2	-3	-7	-7	15	15	2	0	5	5	18	20	-5	-5.2 days
Fixed Asset Turnover	snapshot only																				0.631
Operating Cycle	snapshot only																				79.9 days
Cash Velocity	snapshot only																				4.162
Capital Intensity	snapshot only																				2.806

Growth (YoY)

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
Revenue	30.2%	32.7%	41.8%	30.4%	30.3%	36.2%	33.0%	29.2%	18.3%	11.9%	6.3%	11.5%	13.8%	10.3%	10.6%	6.6%	4.2%	4.1%	0.6%	-4.7%	-4.66%
Net Income	22.3%	34.3%	41.7%	54.5%	63.5%	74.9%	87.7%	91.6%	63.8%	40.4%	16.9%	10.8%	5.1%	4.9%	6.8%	7.4%	9.9%	8.2%	-0.8%	-5.6%	-5.64%
EPS	22.3%	34.3%	41.7%	54.5%	63.5%	74.9%	87.7%	91.6%	63.8%	40.4%	16.9%	10.8%	9.5%	9.5%	11.3%	12.0%	10.0%	8.3%	-0.6%	-5.7%	-5.74%
FCF	24.9%	-0.4%	-0.5%	-28.1%	-55.7%	-48.0%	-39.6%	37.7%	2.1%	1.7%	1.4%	4.3%	-52.5%	-81.9%	-1.1%	-1.3%	-1.8%	-7.6%	-11.9%	-5.5%	-5.53%
EBITDA	1.1%	0.3%	0.0%	11.2%	-4.8%	1.0%	13.0%	1.3%	28.1%	44.9%	32.8%	36.0%	23.9%	14.5%	22.2%	30.7%	27.1%	23.5%	20.4%	19.8%	19.78%
Op. Income	9.9%	11.9%	13.0%	14.1%	0.5%	6.6%	16.9%	15.2%	30.8%	36.6%	22.9%	26.2%	21.3%	17.6%	25.1%	25.7%	22.4%	-4.9%	-29.2%	-39.3%	-39.34%
OCF Growth	snapshot only																				-38.06%
Asset Growth	snapshot only																				11.78%
Equity Growth	snapshot only																				9.69%
Debt Growth	snapshot only																				26.92%
Shares Change	snapshot only																				0.11%
Dividend Growth	snapshot only																				90.35%

Growth (CAGR)

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
Revenue 3Y	9.8%	11.8%	13.9%	12.6%	15.8%	18.7%	22.0%	23.7%	26.1%	26.5%	26.1%	23.4%	20.6%	18.9%	16.1%	15.4%	12.0%	8.7%	5.8%	4.2%	4.24%
Revenue 5Y	6.0%	8.8%	13.2%	9.1%	11.2%	12.8%	13.9%	15.4%	15.4%	16.3%	15.9%	15.5%	15.9%	15.6%	16.4%	17.6%	18.9%	18.4%	17.4%	13.8%	13.80%
EPS 3Y	-30.8%	-28.8%	-22.7%	-7.4%	47.3%	61.3%	67.0%	48.6%	48.5%	48.9%	45.9%	48.6%	43.1%	39.1%	34.7%	33.5%	25.4%	18.5%	9.0%	5.4%	5.37%
EPS 5Y	29.1%	26.2%	9.6%	18.5%	20.7%	27.0%	31.4%	6.4%	-2.3%	-2.4%	0.2%	11.0%	41.8%	45.2%	43.4%	32.4%	31.6%	31.4%	28.0%	28.2%	28.20%
Net Income 3Y	-30.8%	-28.8%	-22.7%	-7.4%	47.3%	61.3%	67.0%	48.6%	48.5%	48.9%	45.9%	48.6%	41.2%	37.1%	32.8%	31.6%	23.7%	16.8%	7.4%	3.9%	3.95%
Net Income 5Y	29.1%	26.2%	9.6%	18.5%	20.7%	27.0%	31.4%	6.4%	-2.3%	-2.4%	0.2%	11.0%	40.6%	44.0%	42.2%	31.3%	30.5%	30.2%	26.9%	27.2%	27.15%
EBITDA 3Y	6.3%	5.0%	1.7%	3.5%	-1.6%	-3.4%	-0.9%	-0.6%	7.2%	13.7%	14.5%	15.2%	14.8%	18.8%	22.4%	21.6%	26.4%	27.0%	25.0%	28.6%	28.63%
EBITDA 5Y	0.7%	2.2%	5.2%	4.8%	2.9%	2.7%	6.0%	4.5%	7.9%	11.1%	9.6%	8.8%	8.6%	8.3%	9.6%	11.8%	14.2%	15.7%	17.2%	19.1%	19.09%
Gross Profit 3Y	10.2%	11.3%	11.6%	12.0%	9.7%	9.4%	11.5%	12.0%	17.0%	20.2%	19.7%	18.9%	16.6%	18.2%	18.4%	18.9%	20.4%	18.2%	11.1%	10.0%	9.97%
Gross Profit 5Y	7.2%	11.6%	18.9%	9.1%	8.4%	8.3%	10.5%	10.2%	12.3%	14.4%	13.7%	14.1%	13.9%	13.9%	14.7%	15.9%	17.9%	17.8%	14.8%	12.8%	12.80%
Op. Income 3Y	7.7%	7.9%	6.8%	6.7%	3.5%	3.2%	6.3%	6.9%	13.0%	17.7%	17.5%	18.4%	16.8%	19.6%	21.6%	22.2%	24.7%	15.2%	2.9%	-1.3%	-1.28%
Op. Income 5Y	—	—	—	18.4%	12.1%	8.4%	8.1%	7.9%	10.4%	12.8%	11.8%	12.1%	11.9%	12.1%	13.1%	14.1%	16.5%	12.8%	7.5%	4.8%	4.80%
FCF 3Y	19.5%	22.3%	29.6%	24.8%	16.2%	38.8%	15.0%	18.3%	19.5%	11.8%	12.6%	1.1%	-13.4%	-36.7%	—	—	—	—	—	—	—
FCF 5Y	0.8%	-2.3%	-0.4%	-4.7%	-11.4%	-6.0%	-2.0%	9.6%	18.4%	20.8%	25.6%	22.8%	18.1%	5.4%	—	—	—	—	—	—	—
OCF 3Y	6.5%	8.4%	12.1%	13.2%	14.4%	15.8%	8.5%	5.0%	1.7%	-0.8%	-0.1%	4.3%	8.4%	11.7%	14.7%	16.7%	18.9%	13.1%	15.3%	4.2%	4.20%
OCF 5Y	-2.3%	-3.6%	-1.6%	-1.0%	-0.4%	0.4%	-0.2%	0.7%	1.5%	2.5%	4.4%	9.6%	14.8%	19.8%	19.0%	16.1%	13.6%	6.9%	6.9%	0.5%	0.51%
Assets 3Y	5.7%	7.0%	7.0%	10.3%	10.3%	12.0%	12.0%	12.7%	12.7%	11.9%	11.9%	12.2%	12.2%	11.8%	11.8%	11.6%	11.6%	10.5%	10.5%	10.9%	10.92%
Assets 5Y	4.9%	4.4%	4.4%	6.6%	6.6%	8.1%	8.1%	8.9%	8.9%	9.3%	9.3%	10.6%	10.6%	10.9%	10.9%	11.8%	11.8%	11.7%	11.7%	12.1%	12.12%
Equity 3Y	10.0%	4.7%	4.7%	7.2%	7.2%	12.0%	12.0%	13.7%	13.7%	11.5%	11.5%	13.2%	13.2%	16.5%	16.5%	17.0%	17.0%	13.6%	13.6%	11.1%	11.09%
Book Value 3Y	10.0%	4.7%	4.7%	7.2%	7.2%	12.0%	12.0%	13.7%	13.7%	11.5%	11.5%	13.2%	14.7%	18.2%	18.2%	18.7%	18.6%	15.3%	15.3%	12.6%	12.62%
Dividend 3Y	11.7%	12.7%	7.1%	3.7%	0.6%	-11.0%	-22.1%	-37.9%	—	—	—	-1.0%	—	—	—	61.0%	27.7%	37.7%	25.1%	25.7%	25.68%

Growth Quality

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
Revenue Stability	0.53	0.71	0.78	0.66	0.65	0.65	0.68	0.80	0.84	0.86	0.86	0.89	0.95	0.96	0.97	0.98	0.97	0.94	0.88	0.82	0.824
Earnings Stability	0.01	0.01	0.00	0.00	0.00	0.00	0.07	0.04	0.01	0.02	0.11	0.52	0.94	0.96	0.96	0.92	0.94	0.94	0.87	0.81	0.809
Margin Stability	0.95	0.92	0.86	0.93	0.91	0.90	0.89	0.89	0.89	0.90	0.90	0.92	0.92	0.91	0.90	0.88	0.88	0.89	0.90	0.91	0.910
Rev. Growth Consistency	0.50	0.50	0.50	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.000
Earn. Growth Consistency	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	1.00	0.00	0.00	0.000
FCF Positive Streak	1	1	1	1	1	1	1	1	1	1	1	1	1	1	0	0	0	0	0	0	0
Earnings Persistence	0.91	0.86	0.83	0.50	0.50	0.50	0.50	0.50	0.50	0.84	0.93	0.96	0.98	0.98	0.97	0.97	0.96	0.97	1.00	0.98	0.977
Earnings Smoothness	0.80	0.71	0.66	0.57	0.52	0.46	0.39	0.37	0.52	0.66	0.84	0.90	0.95	0.95	0.93	0.93	0.91	0.92	0.99	0.94	0.942
ROE Trend	0.01	0.03	0.03	0.03	0.04	0.04	0.05	0.05	0.04	0.03	0.02	0.02	0.01	0.00	-0.01	-0.00	-0.01	-0.01	-0.02	-0.02	-0.017
Gross Margin Trend	-0.01	-0.02	-0.04	-0.04	-0.07	-0.07	-0.06	-0.05	-0.02	0.01	0.01	0.01	0.02	0.03	0.05	0.06	0.05	0.03	-0.00	-0.00	-0.001
FCF Margin Trend	0.04	0.03	0.00	-0.04	-0.10	-0.11	-0.09	-0.03	0.03	0.03	0.04	-0.00	-0.03	-0.07	-0.10	-0.12	-0.13	-0.20	-0.20	-0.21	-0.208
Sustainable Growth Rate	3.1%	3.4%	4.3%	4.7%	6.6%	8.7%	11.6%	12.4%	13.7%	12.8%	12.8%	11.6%	11.0%	10.2%	10.0%	9.8%	10.0%	8.0%	7.3%	6.7%	6.71%
Internal Growth Rate	0.7%	0.8%	1.0%	1.0%	1.4%	1.8%	2.5%	2.7%	3.0%	2.9%	2.9%	2.7%	2.6%	2.4%	2.4%	2.3%	2.4%	1.9%	1.7%	1.5%	1.55%

Cash Flow Quality

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
OCF/Net Income	5.99	5.57	5.12	4.55	3.51	2.80	2.20	2.07	2.00	2.02	2.05	2.34	2.71	3.02	3.29	3.18	3.11	2.54	2.72	2.09	2.086
FCF/OCF	0.65	0.63	0.61	0.47	0.30	0.38	0.46	0.74	1.00	1.00	1.00	0.61	0.33	0.12	-0.06	-0.13	-0.21	-0.83	-0.92	-1.42	-1.420
FCF/Net Income	snapshot only																				-2.962
OCF/EBITDA	snapshot only																				0.477
CapEx/Revenue	7.7%	8.1%	8.1%	10.1%	11.2%	8.7%	6.7%	3.3%	0.0%	0.0%	0.0%	5.4%	10.5%	15.8%	20.8%	21.9%	23.1%	28.5%	30.7%	30.3%	30.30%
CapEx/Depreciation	snapshot only																				4.100
Accruals Ratio	-0.07	-0.07	-0.07	-0.06	-0.05	-0.04	-0.03	-0.03	-0.03	-0.03	-0.03	-0.04	-0.05	-0.05	-0.06	-0.06	-0.06	-0.04	-0.04	-0.02	-0.025
Sloan Accruals	snapshot only																				0.013
Cash Flow Adequacy	snapshot only																				0.388
Earnings Quality Score	snapshot only																				1.000

Dividends & Buybacks

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
Dividend Yield	1.7%	1.4%	1.0%	0.9%	1.0%	0.7%	0.5%	0.3%	0.0%	0.0%	0.0%	0.1%	0.2%	0.3%	0.5%	0.5%	0.5%	1.0%	1.0%	1.0%	0.71%
Dividend/Share	$2.00	$2.15	$2.09	$2.06	$2.03	$1.51	$0.99	$0.49	$0.00	$0.00	$0.00	$0.48	$1.00	$1.50	$2.00	$2.00	$2.00	$3.75	$3.75	$3.80	$2.50
Payout Ratio	50.8%	49.2%	42.8%	39.5%	31.6%	19.8%	10.8%	4.9%	0.0%	0.0%	0.0%	4.3%	8.6%	12.8%	16.7%	16.1%	15.7%	29.6%	31.6%	32.5%	32.50%
FCF Payout Ratio	13.0%	14.0%	13.6%	18.6%	29.8%	18.9%	10.6%	3.2%	0.0%	0.0%	0.0%	3.0%	9.6%	36.9%	—	—	—	—	—	—	—
Total Payout Ratio	50.8%	49.2%	42.8%	61.0%	66.6%	49.3%	35.3%	16.2%	0.0%	0.0%	0.0%	4.3%	8.6%	12.8%	16.7%	16.1%	15.7%	29.6%	31.6%	32.5%	32.50%
Div. Increase Streak	1	1	1	1	1	0	0	0	—	—	—	0	0	0	0	0	1	1	1	1	0
Chowder Number	0.41	0.44	0.24	0.12	0.03	-0.29	-0.52	-0.76	—	—	—	-0.03	—	—	—	3.01	1.00	1.51	0.88	0.92	0.916
Buyback Yield	0.0%	0.0%	0.0%	0.5%	1.1%	1.1%	1.1%	0.6%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.00%
Net Buyback Yield	-4.1%	-4.6%	-4.4%	-2.8%	-1.8%	-0.6%	0.5%	0.3%	0.0%	0.0%	0.0%	-0.2%	-0.4%	-0.5%	-0.9%	-0.8%	-0.6%	-0.4%	-0.2%	-0.1%	-0.14%
Total Shareholder Return	-2.4%	-3.2%	-3.4%	-1.9%	-0.8%	0.1%	1.0%	0.6%	0.0%	0.0%	0.0%	-0.1%	-0.2%	-0.2%	-0.4%	-0.2%	-0.1%	0.6%	0.8%	0.9%	0.86%

DuPont Factors

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
Tax Burden (NI/EBT)	0.53	0.60	0.57	0.58	0.71	0.67	0.62	0.61	0.60	0.62	0.67	0.64	0.65	0.60	0.61	0.63	0.63	0.63	0.59	0.56	0.565
Interest Burden (EBT/EBIT)	0.51	0.55	0.67	0.66	0.80	0.99	1.11	1.19	1.02	0.81	0.76	0.81	0.75	0.76	0.69	0.63	0.63	0.61	0.59	0.56	0.563
EBIT Margin	0.13	0.12	0.10	0.11	0.08	0.07	0.08	0.08	0.10	0.12	0.12	0.11	0.12	0.13	0.14	0.15	0.16	0.16	0.17	0.19	0.189
Asset Turnover	0.38	0.38	0.41	0.40	0.45	0.46	0.48	0.46	0.46	0.45	0.46	0.46	0.47	0.46	0.46	0.44	0.45	0.43	0.42	0.38	0.376
Equity Multiplier	4.50	4.60	4.60	4.73	4.73	4.80	4.80	4.71	4.71	4.54	4.54	4.38	4.38	4.34	4.34	4.34	4.34	4.33	4.33	4.40	4.399

Per Share

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
EPS (Diluted TTM)	$3.93	$4.36	$4.89	$5.22	$6.43	$7.62	$9.18	$10.00	$10.53	$10.70	$10.73	$11.08	$11.53	$11.72	$11.94	$12.41	$12.68	$12.69	$11.87	$11.70	$11.70
Book Value/Share	$66.91	$63.78	$63.78	$67.27	$67.27	$76.99	$76.99	$86.29	$86.29	$90.34	$90.34	$96.99	$100.97	$105.41	$105.22	$112.48	$112.37	$118.06	$117.95	$123.25	$148.77
Tangible Book/Share	$57.50	$54.33	$54.33	$57.61	$57.61	$67.46	$67.46	$76.58	$76.58	$80.88	$80.88	$87.35	$90.94	$95.63	$95.45	$103.02	$102.92	$108.85	$108.75	$114.20	$114.20
Revenue/Share	$108.57	$113.13	$123.06	$127.85	$141.42	$154.08	$163.72	$165.20	$167.35	$172.47	$174.03	$184.20	$198.26	$198.72	$200.66	$204.69	$206.81	$206.94	$202.25	$194.95	$198.55
FCF/Share	$15.40	$15.37	$15.35	$11.08	$6.82	$8.00	$9.28	$15.26	$21.05	$21.58	$22.01	$15.91	$10.41	$4.07	$-2.30	$-5.32	$-8.32	$-26.72	$-29.72	$-34.66	$-18.94
OCF/Share	$23.56	$24.29	$25.02	$23.78	$22.54	$21.31	$20.17	$20.71	$21.05	$21.58	$22.01	$25.90	$31.22	$35.37	$39.35	$39.44	$39.47	$32.24	$32.28	$24.41	$2.51
Cash/Share	$19.10	$15.52	$15.52	$21.08	$21.08	$26.40	$26.40	$37.43	$37.43	$34.19	$34.19	$31.81	$33.11	$30.22	$30.17	$40.81	$40.77	$38.48	$38.44	$46.84	$46.94
EBITDA/Share	$22.03	$21.06	$20.71	$22.80	$20.97	$21.27	$23.41	$23.08	$26.87	$30.83	$31.09	$31.39	$34.67	$36.85	$39.59	$42.77	$44.10	$45.56	$47.75	$51.17	$51.17
Debt/Share	$140.01	$147.06	$147.06	$153.46	$153.46	$159.63	$159.63	$158.64	$158.64	$157.45	$157.45	$163.74	$170.47	$197.88	$197.51	$196.53	$196.33	$234.25	$234.05	$249.16	$249.16
Net Debt/Share	$120.91	$131.55	$131.55	$132.38	$132.38	$133.22	$133.22	$121.21	$121.21	$123.26	$123.26	$131.93	$137.35	$167.66	$167.35	$155.72	$155.57	$195.78	$195.60	$202.32	$202.32

Academic Models

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
Altman Z-Score	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	—	1.332
Altman Z-Prime	snapshot only																				1.692
Piotroski F-Score	7	6	6	8	8	8	9	8	9	9	7	6	8	6	7	7	6	6	5	4	4
Beneish M-Score	-2.57	-2.40	-2.37	-2.49	-2.13	-2.05	-2.14	-2.43	-2.58	-2.69	-2.63	-2.51	-2.62	-2.90	-2.93	-2.92	-2.90	-2.45	-2.52	-2.79	-2.794
Ohlson O-Score	snapshot only																				-8.380
ROIC (Greenblatt)	snapshot only																				13.03%
Net-Net WC	snapshot only																				$-303.10
EVA	snapshot only																				$-18919322589.23

Credit

Metric	Q1'22	Q2'22	Q3'22	Q4'22	Q1'23	Q2'23	Q3'23	Q4'23	Q1'24	Q2'24	Q3'24	Q4'24	Q1'25	Q2'25	Q3'25	Q4'25	Q1'26	Q2'26	Q3'26	Q4'26	Current
Credit Rating	snapshot only																				B+
Credit Score	19.96	19.39	18.83	18.81	17.53	20.70	19.59	19.98	21.17	21.39	21.57	29.84	31.41	27.82	27.75	32.03	31.74	23.90	25.74	30.63	30.627
Credit Grade	snapshot only																				14
Credit Trend	snapshot only																				-1.403
Implied Spread (bps)	snapshot only																				650.000
Industry Credit Rank	snapshot only																				29
Sector Credit Rank	snapshot only																				29

TATAPOWER.NS NSE

Financial Rating

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Risk & Quality Signals

Valuation

DuPont Decomposition (5-Factor)

Graham-Dodd Adjusted Valuation

Profitability Trends

Leverage & Solvency Trends

Efficiency & Working Capital Trends

Growth Trends (YoY %)

Earnings Stability

Monte Carlo Price Simulation

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