Torrent Power · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Merchant power sales declined ₹333 crore due to subdued demand (early monsoon) and elevated LNG prices. Management declined to provide Q2 merchant volume estimates, citing unpredictable market conditions and volatile PLF.
MERCOM report on Maharashtra distribution license shows pack losses for first four years. Public hearing completed today (call date), with results expected in couple of days. The regulatory decision on three areas (Pune, Nagpur, etc.) remains uncertain.
UP discom privatization is 'too early' as government is still working on RFP finalization. No firm timeline available despite Torrent's interest in participating when tenders are issued.
Analyst asked about reported interest in L&D's power assets. Management deflected, saying 'we don't want to give any comments on this at this moment' while confirming ongoing evaluation of thermal and coal assets via IBC process.
