Side-by-side earnings comparison across verified financials, AI summaries, management guidance, risks, quotes, and accountability signals.
Tata Power delivered a strong Q4 FY26 with PAT of ₹1,416 crore (+8% YoY) and full-year PAT crossing ₹5,000 crore for the first time, driven by robust performance across generation, transmission, distribution, and solar manufacturing.
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Adani Total Gas delivered a robust Q4 FY26 with revenue of INR 1,696 Cr (+16% YoY) and EBITDA of INR 310 Cr (+13% YoY), driven by strong volume growth in CNG (+17% YoY) and PNG (+5% YoY).
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Tata Power delivered a strong Q4 FY26 with PAT of ₹1,416 crore (+8% YoY) and full-year PAT crossing ₹5,000 crore for the first time, driven by robust performance across generation, transmission, distribution, and solar manufacturing. The solar cell and module plant PAT doubled to ₹857 crore, while rooftop solar installations doubled. The Mundra plant is now operating under the supplementary PPA with Gujarat, and agreements with other four states are expected within 4-6 weeks, removing a key overhang. Management guided for ₹25,000 crore capex in FY27, focusing on 2.5 GW of renewable capacity addition (solar, wind, hybrid) and pumped hydro. Risks include potential delays in transmission infrastructure and regulatory asset amortization in Delhi.
Adani Total Gas delivered a robust Q4 FY26 with revenue of INR 1,696 Cr (+16% YoY) and EBITDA of INR 310 Cr (+13% YoY), driven by strong volume growth in CNG (+17% YoY) and PNG (+5% YoY). Customer additions hit a record 50,000 new domestic PNG connections in the quarter, and the CNG station network expanded to 705 stations. Management guided for similar revenue growth in FY27, targeting EBITDA around INR 1,500 Cr. The company benefited from government priority gas allocation and pool pricing, which helped mitigate geopolitical disruptions. However, industrial volumes saw slight softness due to higher gas costs. Key risk: sustained high gas prices could pressure margins if pass-through remains constrained.
Rooftop solar installations doubled in FY26, capturing ~20% market share.
PAT from solar cell and module manufacturing more than doubled in FY26.
5 GW of renewable projects under implementation, 50% to be completed in FY27.
Leverage remains stable at 3.3x net debt to EBITDA despite ₹13,000 crore capex.
CNG volumes grew 17% year-on-year in Q4 FY26, driven by network expansion and higher demand.
Record quarterly addition of 50,000 new domestic PNG connections, the highest ever.
Total CNG stations reached 705, with 140 under company-owned or dealer-operated models.
E-mobility subsidiary now operates 5,100 EV charge points across 226 cities.
Management expects to spend ₹25,000 crore in FY27, including delayed projects from FY26.
Management guidance capexTarget to commission 2.5 GW of renewable capacity (solar, wind, hybrid) in FY27.
Management guidance growthExpects rooftop solar business to grow 50-60% in FY27, maintaining ~20% market share.
Management guidance growthExpects to finalize supplementary PPAs with remaining four states within 4-6 weeks.
Management guidance other
Management expects revenue growth in FY27 to be similar to or slightly higher than the 18% growth achieved in FY26.
Management guidance revenueManagement guided for EBITDA in the range of INR 1,500 Cr for FY27, implying continued margin discipline.
Management guidance marginsThe company remains on track to install 10,000 EV charging points in the near term, up from 5,100 currently.
Management guidance expansion
Delays in transmission lines and right-of-way issues caused capex shortfall in FY26 and may persist.
medium · management_commentarySupreme Court has directed amortization of regulatory assets by 2032; any deviation could impact cash flows.
medium · analyst_questionPotential new taxes on coal exports from Indonesia could increase costs, though coal is pass-through in PPAs.
low · analyst_questionCurtailment due to inadequate evacuation infrastructure impacted PLF in FY26; management is now cautious on new projects.
medium · data_observation
West Asia tensions have led to higher natural gas prices and supply chain challenges, which could impact margins if not managed.
high · management_commentaryIndustrial and commercial volumes saw slight degrowth as higher gas prices affected demand; sustained high prices could further impact this segment.
medium · analyst_questionThe company relies on government pool gas pricing and allocation; any change in policy could affect cost structure.
medium · data_observation
We have now concluded the SPA with Gujarat and we are in the process of finalizing it with all the other four states which we expect in next four to six weeks we will complete.
We are definitely looking to enhance our market share and our target is that in next three years we will 20%.
Our philosophy has been consumer first. We make sure that in the new geographical area we bring the consumer to the CGD network because they are used to several other uses like liquid fuels, LPG, etc.
We are expecting the same revenue growth which we have achieved in the current financial year. Maybe something more on a new year compared to the existing in current financial year.
