Torrent Power Approves FY26 Results, Reappoints Directors, Plans ₹10,000 Cr NCD Issue
Torrent Power's Board approved FY26 results and recommended a final dividend of ₹5 per share, bringing the total FY26 dividend to ₹20. The company plans to raise up to ₹10,000 Crore via NCDs. Radhika Haribhakti and Ketan Dalal were re-appointed as Independent Directors for five-year terms.
The substantial ₹10,000 Crore NCD issuance and dividend recommendation are material financial events that will impact the company's capital structure and shareholder returns.
The approval of financial results, recommendation of a final dividend, and plans for significant fundraising indicate positive financial health and strategic planning.
Torrent Power Limited announced the outcome of its Board Meeting held on May 12, 2026. The Board approved the audited financial results for the quarter and year ended March 31, 2026, with an unmodified auditor's report.
The company recommended a Final Dividend of ₹5 per Equity Share, subject to member approval at the upcoming Annual General Meeting (AGM). This, combined with the interim dividend of ₹15 per Equity Share paid during Q4 FY2025-26, totals ₹20 per Equity Share for FY2025-26. The Board also approved a plan to raise funds up to ₹10,000 Crore through the issuance of Non-Convertible Debentures (NCDs) via private placement in one or more tranches.
Further, the Board approved the re-appointment of Radhika Haribhakti as Non-Executive Independent Director for a second term of 5 years from August 07, 2026, to August 06, 2031. Additionally, Ketan Dalal was re-appointed as Non-Executive Independent Director for a second term of 5 years from May 11, 2027, to May 10, 2032. Both re-appointments are subject to member approval.
The company also submitted a statement on the utilization and deviation of ₹2000 Crore NCDs (Series -14) issued in the quarter ended March 31, 2026, confirming no deviation in the use of funds. The Board Meeting commenced at 02:30 pm and concluded at 04:45 pm.
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Torrent Power Limited filed this with the NSE as a statutory disclosure, categorised under board meeting. It is a primary document, not a recommendation, and the desk marks it high impact, which is the band that most often changes something.
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