Tata Power Company highlighted the growth strategy for its various businesses over the period FY23-FY27. Tata Power has a clear focus on clean and green growth, as evidenced by the fact that green companies will account for 80% of its estimated $1 trillion in capital expenditures in FY23-FY27. The company is aiming to grow its revenue and PAT by 3x and 4x from FY22 levels of $426B and $23B, respectively, while improving shareholder returns while meeting its SoTP-based price target of 262 for Tata Power shares but downgrades the stock to ADD (from Buy) due to the stock price appreciation (12.3% over the last 6 months).The long-term potential of the company's businesses is good, particularly in renewable energy and distribution, and that the company is the best placed private player in the energy sector, with companies across the value chain and backwards integration. Tata Powers exuded confidence in the paradigm shift in the energy sector landscape and its appropriate positioning to embrace the new stage of growth with sustainability at its core.
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