TORRENT POWER LIMITED — Earnings Release 2024

Feb 8, 2024

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February 08, 2024

To, To, Corporate Relationship Department Listing Department BSE Limited, National Stock Exchange of India Limited 14[th] Floor, P. J. Towers, “Exchange Plaza”, C – 1, Block G Dalal Street, Fort, Bandra- Kurla Complex, Bandra (East), Mumbai-400001 Mumbai-400051 SCRIP CODE: 532779 P SYMBOL: TORNTPOWER Dear Sir / Madam,

Re: Media release

Media Release on Unaudited Consolidated Financial Results for the quarter and Nine months ended December 31, 2023 is enclosed for your records which will be disseminated shortly.

Thanking you.

Yours faithfully, For Torrent Power Limited

Digitally signed by RAHUL RAHUL CHAITANYA CHAITANYABHAI SHAH BHAI SHAH Date: 2024.02.08 18:15:55 +05'30'

Rahul Shah Company Secretary & Compliance Officer Encl.: As above

TORRENT POWER LIMITED Email: cs@torrentpower.com CIN: L31200GJ2004PLC044068 Regd. Office: ''Samanvay'', 600, Tapovan, Ambawadi, Ahmedabad 380015, Gujarat, India Phone: 079-26628300 www.torrentpower.com

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Torrent Power reports Q3 FY 2023-24 results

Revenue from Operations

₹ 6,366 crs in Q3 FY 2023-24 compared to ₹ 6,443 crs in Q3 FY 2022-23

₹ 20,655 crs in YTD FY 2023-24 compared to ₹ 19,656 crs in YTD FY 2022-23 EBITDA

Major Highlights

₹ 1,098 crs in Q3 FY 2023-24 compared to ₹ 1,527 crs in Q3 FY 2022-23

₹ 3,698 crs in YTD FY 2023-24 compared to ₹ 3,954 crs in YTD FY 2022-23

Profit for the period (PAT)

₹ 374 crs in Q3 FY 2023-24 compared to ₹ 695 crs in Q3 FY 2022-23

₹ 1,449 crs in YTD FY 2023-24 compared to ₹ 1,681 crs in YTD FY 2022-23

February 08, 2024 : Torrent Power Limited (the “Company”) today announced financial results for the quarter ended December 31, 2023.

Earnings before interest, Depreciation and Tax (EBIDTA) for Q3 FY 2023-24 was lower due to reduction in net gain from trading of LNG and merchant power sales by ₹ 478 crs as compared to corresponding quarter last year i.e. Q3 FY 2022-23.

Adjusted for the above gain in Q3 FY 2022-23, adjusted Earnings before interest, Depreciation and Tax (EBIDTA) and PAT for Q3 FY 2023-24 were higher by ₹ 49 crs and ₹ 31 crs respectively as compared to Q3 FY 2022-23.

The major reasons for higher adjusted PAT for the quarter on y-o-y basis are:

• Increase in contribution from licensed distribution businesses;

• Increase in contribution from renewable businesses due to capacity addition and higher wind PLF;

• Decrease in tax expenses;

• Higher depreciation expense.

The Board at its meeting of even date, has approved interim dividend of ₹ 12.00 per equity share.

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About Torrent Power:

Torrent Power, the ₹ 25,694 Crs integrated power utility of the ₹ 37,600 Crs Torrent Group, is one of the largest companies in the country’s power sector with presence across the entire power value chain – generation, transmission and distribution.

Generation :

• ❖ The Company has an aggregate installed generation capacity of 4,287 MW comprising of 2,730 MW of gas-based capacity, 1,195 MW of renewable capacity and 362 MW of coalbased capacity. Further, Renewable projects of 977 MW are under development. Total generation capacity, including projects under advanced stages of development, is 5,264 MW.

Distribution :

• ❖ The Company distributes nearly 28 billion units to over 4.03 million customers in the cities of Ahmedabad, Gandhinagar, Surat, Dahej SEZ and Dholera SIR in Gujarat, Union Territory of Dadra and Nagar Haveli and Daman and Diu (DNH & DD); Bhiwandi, Shil, Mumbra and Kalwa in Maharashtra and Agra in Uttar Pradesh.

• ❖ Torrent Power is widely considered to be the leading power distributor in India and in its licensed areas in Gujarat has the distinction of having the lowest AT&C losses and best reliability indices in the country.

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