Tata Power announces strong Q2 FY22 Results with 36% increase in Q2 consolidated pat at Rs. 506 crore and 13% increase in consolidated revenue at Rs. 9,502 crore

TATA POWER ANNOUNCES STRONG Q2 FY22 RESULTS WITH 36% INCREASE IN Q2

CONSOLIDATED PAT AT ₹506 CRORE and 13% INCREASE IN CONSOLIDATED REVENUE at

₹9,502 CRORE

SOLAR EPC ORDER BOOK STANDS AT ₹9,264 CRORE

Crosses a milestone of setting up 1000 EV charging points across India

• Q2 FY22 Consolidated PAT was up by 36% at ₹506 crore due to strong all round business performance by all verticals. Q2 Consolidated Revenue up by 13% at ₹9,502 Crore due to expanded operation in Odisha DISCOMs and higher project execution by Tata Power Solar Systems Ltd. (TPSSL) and strong business performance of all other businesses
• H1 FY22 Consolidated PAT was up by 52% at ₹ 971 crore as compared to ₹ 639 crore over H1 FY21. Consolidated Revenue was up by 29% at ₹ 19,476 crore as compared to ₹ 15,105 crore over H1 FY21.

Editorial Synopsis:

Key Financial Highlights: Q2 FY22 vs Q2 FY21

• Consolidated PAT up by 36% at ₹506 crore vs 371 crore in Q2 FY21 mainly due to strong all round business performance by all verticals
• Consolidated EBITDA stood at ₹1,732 Crore vs 2,276 crore in Q2 FY21 mainly due to higher CGPL losses on account of higher coal prices but offset at PAT level by coal mines profits
• Consolidated Revenue up by 13% at ₹9,502 crore vs 8,428 crore in Q2 FY21 expanded operation in Odisha DISCOMs and higher project execution by Tata Power Solar Systems Ltd. (TPSSL) and strong business performance of all other businesses
• Standalone Revenue up by 15% at ₹1,897 crore as compared to ₹1,654 crore in Q2 FY21 mainly due to higher generation
• Standalone PAT before exceptional items up by 273% at ₹541 crore as compared to ₹145 crore in Q2 FY21 mainly due to higher dividend income
• S&P Global Ratings upgraded Company's credit rating by two notches to BB (Stable)

Key Business and Growth Highlights:

Renewables:

• Renewable Portfolio grew by 10% in Q2, vs Q1 FY 22, by adding 256 MW capacity and winning bids of 580 MW.
• Commissioned 100 MW Solar PV Project at Raghanesda Solar Park, Gujarat and 150 MW Solar PV project at Lohakari, Rajasthan.
• Received 'Letter of Award' from Rewa Ultra Mega Solar Ltd. (RUMSL) for setting up of 330 MW solar Project in MP.
• Received the 'Letter of Intent' (LoI) from Maharashtra State Power Generation Co. Ltd. (MAHAGENCO) for setting up of 250 MW Grid-Connected Solar plant in Maharashtra
• Awarded EPC Project with India's first ever Large Scale 50 MWh Battery Energy Storage System co- located with 50 MWp Solar PV plant, EPC project of ₹ 386 Cr, at Leh, Ladakh
• Installed 53000 solar pumps across the country till date. Launched branded solar pumps (Tata Power Solar Pumps) with the first retail offering in Jaipur, Rajasthan

*Revenue includes Regulatory income/expense

Solar Rooftop:

• Diverse Solar Rooftop Portfolio of 750 + MW across 150 districts serving more than 30000 residential, industrial and commercial customers.
• Bagged empanelment of 84 MW solar Rooftop Project worth ₹400 Cr from Kerala State Electricity Board.
• Ranked no 1 Rooftop EPC player in the country, with more than 10% market share among EPC contractors, for 7 year in a row (Source - Bridge to India Report)

EV Charging:

• Completed installations of over 1000 EV Public Charging points across the country serving customers across Offices, Malls, Hotels, Retail Outlets, and places of public access, enabling clean mobility.
• Tied up with the world's leading two-wheeler manufacturer TVS Motor to develop wide scale Electric Vehicle Charging Infrastructure (EVCI) across India and deploy solar power technologies at select TVS Motor locations while also partnering with HPCL to set up EV charging points at HPCL Petrol Pumps.
• Entered into Strategic Partnerships with leading real estate players - Lodha group in Mumbai and Pune.
• Company has an ambitious plan to set up EV charging points across the length and breadth of the country from Kashmir to Kanyakumari and from Rajasthan to Odisha

Transmission & Distribution (T & D):

• Expanded its smart meter footprint with nearly 2.7 lakh installation in Mumbai and Delhi.
• Received NABL accreditation for its Smart Meter Testing lab in Mumbai.
• Joined hands with BluWave- ai, the world's first renewable energy AI company for Real-Time management of Electricity Operations in Mumbai.
• Company's subsidiary, Tata Power-DDL became the first utility in the country to meet 100 Percent Renewable Purchase Obligation (RPO)
• Smart Energy Shoppe offering launched by Tata Power DDL for its customers in Delhi. The Shoppe offers wide range of Energy Efficient Products (EEPs) and Energy Management Solutions.
• All four Odisha Discoms continued their journey of operational excellence with 47 % reduction in feeder tripping in TPCODL and around 20 % reduction in 11 KV & 33 KV lines in TPWODL licensed area. The Discoms continued to improve distribution network along with new customer care centers and online payment services for customers. .
• Effectively managed the operational and maintenance activities during the cyclone 'Gulab' in TPSODL licensed area.

Home Automation:

• The Company launched its Home Automation products 'Tata Power EZ Home' offering smart energy management solution in 60 cities. The products are also available via e-commerce platforms like Amazon, Flipkart, Tata CLiq and on offline store Croma

*Revenue includes Regulatory income/expense

Corporate Responsibility & Sustainability:

• Tata Power was assessed by ESG Risk Assessments and Insights Limited (ESG Risk. ai) and has

been identified as a leading company on ESG disclosures in the Indian power sector.

• Tata Power has been ranked among the top 10 on Sustainability & CSR responsible business ranking in the ET-Future scape 8th Sustainability Index Report.
• Secured the highest score in CRISIL's ESG Scores among its peers in the Indian Power sector.
• Tata Power Skill Development Institute (TPSDI) has achieved the milestone of training and upskilling 1 lakh youth across the country.

National, October 28, 2021: results for the quarter ended compared to Q2 FY21.

Tata Power, India's largest integrated power company, today announced its 30th September, 2021, reporting a 36% increase in consolidated PAT as

PERFORMANCE HIGHLIGHTS: CONSOLIDATED

On a consolidated basis, Tata Power Group's Q2 FY22 Revenue was up by 13% at ₹9,502 crore as compared to ₹ 8,428 crore last year. This is mainly due to expanded operations in Odisha DISCOMs, higher project execution in Solar EPC Business and strong business performance by all other businesses

Consolidated PAT stood at ₹506 crore up by 36% as compared to ₹371 crore in Q2 FY21 due to savings in finance cost & better performance in Renewables Business.

PERFORMANCE HIGHLIGHTS: STANDALONE

For the Quarter ended September 30, 2021, Standalone Revenue stood at ₹ 1,897 crore as against ₹1,654 crore, which is an increase of 14.7 %, in the corresponding quarter last year mainly due to higher generation.

PAT before exceptional items up by 273% at ₹541 crore as compared to ₹ 145 crore in corresponding period last year mainly due to higher dividend income

Commenting on the Company's performance, Dr. Praveer Sinha, CEO & Managing Director, Tata Power said, "The robust performance during this quarter is a reflection of our continued focus on our well calibrated business strategy. All our business divisions and subsidiaries have reported strong results. Our consolidated financial performance was exceptionally strong on the back of robust underlying business performance. Our focus continues to remain towards the expansion of our Renewable and Distribution businesses and go green strategy in our existing generation business.

We aim to scale up renewable business towards our 2030 target. Clean energy currently makes up 32% of Tata Power's portfolio which is expected to touch 80% by 2030.

Tata Power is committed and aligned with Indian Government's National Electric Mobility Mission Plan (NEMMP) 2020 and FAME II policy which are focused on transforming the e-mobility space of the country. The company has reached a significant milestone of deploying 1000 EV Public charging points across 180 cities in India. Our target is to install EV charger points over a 3,600 km stretch from India's northernmost region of Kashmir to Kanyakumari. We will also continue to strengthen our Solar Pumps, Solaroof and Solar Microgrids businesses across the country."

*Revenue includes Regulatory income/expense

Disclaimer:

Statements in this press release describing the Company's performance may be "forward looking statements" within the meaning of applicable securities laws and regulations. Actual results may differ materially from those directly or indirectly expressed, inferred or implied. Important factors that could make a difference to the Company's operations include, among others, economic conditions affecting demand/ supply and price conditions in the domestic and overseas markets in which the Company operates, changes in or due to the environment, Government regulations, laws, statutes, judicial pronouncements and/ or other incidental factors

About Tata Power:

Tata Power (NSE: TATAPOWER; BSE:500400) is one of India's largest integrated power companies and together with its subsidiaries and jointly controlled entities, has an installed / managed capacity of 13,068 MW. The Company has presence across the entire power value chain - generation of renewable as well as conventional power including hydro and thermal energy, transmission & distribution, coal & freight, logistics and trading.

The Company had developed the country's first Ultra Mega Power Project at Mundra (Gujarat) based on supercritical technology. With 4.2 GW of clean energy generation from solar, wind, hydro and waste heat recovery accounting for 32% of the overall portfolio, the company is a leader in clean energy generation.

It has successful public-private partnerships in generation, transmission & distribution in India viz: Powerlinks Transmission Ltd. with Power Grid Corporation of India Ltd. for evacuation of Power from Tala hydro plant in Bhutan to Delhi, Maithon Power Ltd. with Damodar Valley Corporation for a 1,050 MW Mega Power Project at Jharkhand.

Tata Power is currently serving more than 12 million consumers via its Discoms, under public-private partnership model viz Tata Power Delhi Distribution Ltd. with Government of Delhi in North Delhi, TP Northern Odisha Distribution Limited, TP Central Odisha Distribution Limited, TP Western Odisha Distribution Limited and TP Southern Odisha Distribution Limited with Government of Odisha.

With a focus on sustainable and clean energy development, Tata Power is steering the transformation an integrated solutions providers by looking at new business growth in distributed generation through rooftop solar and micro grids, storage solutions, EV charging infrastructure, ESCO, home automation & smart meters et al.

With its 107 years track record of technology advancements, project execution excellence, world-class safety processes, customer care and green initiatives, Tata Power is well poised for multi-fold growth and is committed to lighting up lives for generations to come. For more information visit us at: www.tatapower.com

For further information, please contact:

Jyoti Kumar Bansal	Siddharth Kumar & Nileesha
Chief - Branding, Communications, CSR,
Sustainability	Plakutam, Adfactors PR
Email:[e-mail]	9902929187 / 9712511725
Siddharth Gaur - Head PR	Email:[e-mail]
E-mail :[e-mail]	[e-mail]

*Revenue includes Regulatory income/expense