5004002025-10-012025-12-315004002025-12-315004002025-04-012025-12-315004002025-10-012025-12-31in-capmkt:OtherExpenses1Member5004002025-10-012025-12-31in-capmkt:OtherExpenses2Member5004002025-10-012025-12-31in-capmkt:OtherExpenses3Member5004002025-10-012025-12-31in-capmkt:OtherExpenses4Member5004002025-04-012025-12-31in-capmkt:OtherExpenses1Member5004002025-04-012025-12-31in-capmkt:OtherExpenses2Member5004002025-04-012025-12-31in-capmkt:OtherExpenses3Member5004002025-04-012025-12-31in-capmkt:OtherExpenses4Member5004002025-10-012025-12-31in-capmkt:ReportableSegments1Member5004002025-10-012025-12-31in-capmkt:ReportableSegments2Member5004002025-10-012025-12-31in-capmkt:ReportableSegments3Member5004002025-04-012025-12-31in-capmkt:ReportableSegments1Member5004002025-04-012025-12-31in-capmkt:ReportableSegments2Member5004002025-04-012025-12-31in-capmkt:ReportableSegments3Member5004002025-10-012025-12-31in-capmkt:ReportableSegments1Member5004002025-10-012025-12-31in-capmkt:ReportableSegments2Member5004002025-10-012025-12-31in-capmkt:ReportableSegments3Member5004002025-04-012025-12-31in-capmkt:ReportableSegments1Member5004002025-04-012025-12-31in-capmkt:ReportableSegments2Member5004002025-04-012025-12-31in-capmkt:ReportableSegments3Member5004002025-10-012025-12-31in-capmkt:ReportableSegments1Member5004002025-12-31in-capmkt:ReportableSegments1Member5004002025-10-012025-12-31in-capmkt:ReportableSegments2Member5004002025-12-31in-capmkt:ReportableSegments2Member5004002025-10-012025-12-31in-capmkt:ReportableSegments3Member5004002025-12-31in-capmkt:ReportableSegments3Member5004002025-10-012025-12-31in-capmkt:ReportableSegments1Member5004002025-12-31in-capmkt:ReportableSegments1Member5004002025-10-012025-12-31in-capmkt:ReportableSegments2Member5004002025-12-31in-capmkt:ReportableSegments2Member5004002025-10-012025-12-31in-capmkt:ReportableSegments3Member5004002025-12-31in-capmkt:ReportableSegments3Member5004002025-10-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15004002025-04-012025-12-31ItemsThatWillNotBeReclassifiedToProfitAndLoss15004002025-10-012025-12-31ItemsThatWillBeReclassifiedToProfitAndLoss15004002025-04-012025-12-31ItemsThatWillBeReclassifiedToProfitAndLoss15004002025-10-012025-12-31AuditorDomain1iso4217:INRxbrli:pureiso4217:INRxbrli:shares500400TATAPOWERNOTLISTEDINE245A01021The Tata Power Company LimitedMain BoardEquity2025-04-012026-03-312026-02-042026-01-14INRCroresQuarterlyThird quarterMulti segment2026-02-0414:00:002026-02-0416:35:00Declaration of unmodified opinionfalsefalseNIL2025-10-012025-12-31AuditedStandalone24825300000258880000027414100000309100000002200100000510210000029339000001800340000028548600000-11345000000-11345000000-532300000-532300000-1001000000-16032000000000-1603200000-2694100000-429730000031956000001-0.5-0.500-0.5-0.50.01360.00730.0058NOTES TO THE STANDALONE FINANCIAL RESULTS – Q3 FY26 <BR> <BR> 1. The above results were reviewed by the Audit Committee and approved by the Board of Directors at its meeting held on 4th February, 2026. <BR> <BR> 2. The Company was supplying power from the Mundra Power Plant (Plant) till 30th June, 2025, based on the directions of the Ministry of Power (MoP) under Section 11 of the Electricity Act, 2003. Subsequently with effect from 3rd July, 2025, the Company has temporarily suspended operations of the Plant to undertake pending overhauling activities aimed at resolving existing technical issues. Further, the Company is currently in discussion with procurers for execution of a Supplementary Power Purchase Agreement (SPPA), and the impact, if any, will be considered once it is finalized. <BR> <BR> 3. During the quarter, the Company has granted additional 50,73,760 (Fifty Lakh Seventy-Three Thousand Seven Hundred and Sixty) employee stock options to the eligible employees of the Company and its subsidiaries, at an exercise price of INR 395.85 (Three Hundred Ninety-Five Rupees Eighty-Five Paise) per option exercisable into equivalent equity shares of INR 1 each subject to fulfilment of vesting conditions, under The Tata Power Company Limited - Employee Stock Option Plan 2023, as approved by shareholders of the Company on 25th September, 2023. <BR> <BR> 4. On 21st November 2025, the Government of India notified the four new Labour Codes (the Code on Wages, 2019, the Code on Social Security, 2020, the Industrial Relations Code, 2020 and the Occupational Safety, Health and Working Conditions Code, 2020) consolidating 29 labour laws. The Company has done a preliminary assessment and considered an impact of the changes and accordingly accounted additional expense of INR 16 crore towards gratuity and leave liabilities. Of this amount, INR 14 crore pertains to the regulated business and has been treated as pass-through in tariff, based on management’s internal assessment supported by external legal opinion. The Company continues to monitor the finalization of Central/State Rules and clarifications from the Government on other aspects of the Labour Codes and finalise the impact on the financial results including that of sub-contractor liabilities as and when such clarifications are issued/rules are notified. <BR> <BR> 5. On 26th September, 2023 the Singapore International Arbitration Centre (SIAC) had published a liability award whereby the Arbitral Tribunal held that the Company was in breach of certain clauses of the Non-disclosure agreements entered into with Kleros Capital Partners Limited (Kleros) and of its contractual duty of good faith and confidence. Further, on 1st July 2025 and 27th August,2025, the SIAC published a quantum award and final award (together referred to as awards) by a majority of 2:1, directing the Company to pay Kleros damages for loss of opportunity of USD 490,320,000 with simple interest of 5.33 percentage from 30th November, 2020 and cost of SGD 11,341,963.46 with simple interest of 5.33 percentage from 1st July, 2025. The Company has obtained a view from its legal counsel stating that the Company has various justifiable grounds to seek setting aside the awards with high probability of a favorable outcome. Based on the legal advice company has filed an appeal on 23rd October 2025, with the Singapore International Commercial Court (SICC) for setting aside the awards and does not foresee any affirmative payment obligation. Considering this, no provision has been recorded in the financial results for the quarter and nine months ended 31st December, 2025. <BR> <BR> 6. Subsequent to the quarter, the Company has acquired 100 percentage equity stake in Jejuri Hinjewadi Power Transmission Limited to Build-Own-Operate Transfer basis for providing transmission services. <BR> <BR> Debt Equity Ratio: Total Debt /Total Shareholder's Equity <BR> <BR> Total Debts - Long term borrowings (including current maturities of long term borrowings), lease liabilities (current and non current), short term borrowings and interest accrued on these debts. <BR> <BR> Total Shareholder's equity - Issued share capital and other equity. <BR> <BR> Debt Service Coverage Ratio(not annualised): <BR> <BR> (Profit before exceptional items and tax + interest expenses + depreciation and amortisation-current tax expense)/ <BR> (Interest expense + scheduled principal repayment of long-term debt and lease liabilities during the period) <BR> <BR> For the purpose of computation, scheduled principal repayment of long-term borrowings does not include prepayments(including prepayment by exercise of call / put option). <BR> <BR> Interest Service Coverage Ratio: <BR> <BR> (Profit before exceptional items and tax + interest expense) / Interest expense2025-04-012025-12-31AuditedStandalone103927400000154982000001194256000008964000000060775000001489380000088226000007540050000010609080000013334800000013334800000024633000002463300000-2962800000790870000000007908700000-2830000007625700000319560000012.472.47002.472.470.01360.01110.0171Cost of power purchased2968600000Cost of fuel8861100000Transmission charges1428300000Other Expenses4745400000Cost of power purchased10341800000Cost of fuel48775000000Transmission charges4281900000Other Expenses12001800000Thermal and Hydro13333600000Transmission and Distribution14749400000Others87900000Thermal and Hydro69151000000Transmission and Distribution45035300000Others2548000002817090000011444110000045821000001441880000023588800000100022300000Thermal and Hydro-1488600000Transmission and Distribution2509600000Others18600000Thermal and Hydro4075400000Transmission and Distribution7373100000Others75300000103960000011523800000510210000014893800000-1927000000-13742000000-213550000010372000000Thermal and Hydro249636800000Transmission and Distribution103464000000Others6141700000359242500000176729900000535972400000Thermal and Hydro51886600000Transmission and Distribution21168200000Others33210000073386900000278185200000351572100000Thermal and Hydro: Comprises of generation of power from hydroelectric sources and thermal sources (coal, gas and oil) from plants owned and operated under lease arrangement and related ancillary services. <BR> <BR> Transmission and Distribution: Comprises of transmission and distribution network, sale of power to retail customers through distribution network and related ancillary services. <BR> <BR> Others: Comprises of project management contracts/infrastructure management services and property under development. <BR> <BR> Includes assets and liabilities considered as held for sale. <BR> The Operating Segments have been reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker. <BR> <BR> RECONCILIATION OF REVENUE AND NET MOVEMENT IN REGULATORY DEFERRAL BALANCES <BR> <BR> <BR> The Operating Segments have been reported in a manner consistent with the internal reporting provided to the Chief Operating Decision Maker. <BR> <BR> RECONCILIATION OF REVENUE <BR> <BR> Quarter ended Year ended <BR> Particulars 31-Dec-2025 31-Dec-2025 <BR> (Audited) (Audited) <BR> (INR Crore (INR Crore) <BR> Revenue from Operations 2,482.53 10,392.74 <BR> Add/(Less): Total Net Movement in Regulatory Deferral Balances (100.10) (296.28) <BR> Add/(Less): Unallocable Revenue (23.55) (94.23) <BR> Total Segment Revenue 2,358.88 10,002.23Equity instruments classified at FVTOCI-3157400000-3157400000Equity instruments classified at FVTOCI-315600000-315600000-451600000-63800000Effective portion of cash flow hedge1560000015600000Effective portion of cash flow hedge-41700000-417000003900000-10500000-2694100000-283000000AuditedtrueSRBC & CO LLPtrue2026-02-28