TORRENT POWER LIMITED Coupon 8.55% | Corporate Bond

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Returns (YTM)

N/A

Min. Investment

N/A

Remaining Tenure

8Y 9M 17Days

Payment Terms

Yearly

Highlights

Credit Rating

CRISIL AA+/STABLE

Seniority

SENIOR

Security

Secured

Default History

Zero

About Issuer

TORRENT POWER LIMITED

Torrent Power is an Indian energy and power company with interests in power generation, transmission, distribution, and power cable manufacturing and supply. The company serves over 38.5 lakh customers in its distribution areas of Ahmedabad, Gandhinagar, Surat, Dahej SEZ, and Dholera SIR in Gujarat; Dadra and Nagar Haveli and Daman and Diu UT in Maharashtra; Bhiwandi, Shil, Mumbra, and Kalwa in Maharashtra; and Agra in Uttar Pradesh. The company's T&D losses in licence areas are among the lowest in the country.

Torrent Group took over and successfully renamed Mahendra Electricals as Torrent Cables Ltd. after successfully turning around an ailing power cable company (now merged with Torrent Power w.e.f. 1 April 2014). The acquisitions of two of India's oldest utilities, The Surat Electricity Company Ltd and The Ahmedabad Electricity Company Ltd, were the high points of Torrent's foray into power. In 1997, the company completed its acquisition of the Ahmedabad Electricity Company by purchasing the Gujarat government's entire 28.89 percent stake. Torrent Power AEC Limited was formed as a result of this acquisition.

Similarly, Torrent Power SEC Limited was formed after acquiring Surat Electricity Company in the same transaction. Torrent Group, the parent company, floated the company Torrent Power Generation in 2005 to further expand into the power business. Torrent Power was formed in 2006 by the merger of three power-related companies: Torrent Group, Torrent Power AEC Ltd, Torrent Power SEC Ltd, and Torrent Power Generation Ltd. In December 2006, Torrent Power made history by signing the country's first distribution franchisee agreement with Maharashtra State Electricity Distribution Company Limited for the Bhiwandi Circle.

Highlights for 2021

Market cap (3 year CAGR- 23%)- INR. 20,365 cr

Enterprise Value (3 year CAGR- 11%)- INR. 28,174Cr

Solar projects won through auctions during FY 2020-21 (PPA for 400MW signed) 700

Revenue from operations -INR.12173cr

EBITDA INR.3607

Total comprehensive income - INR. 1300 cr

Return on net worth 12.42% (previous year 11.05%)

Return on capital employed 10.01% (Previous year 9.32%)

Net Debt to EBITDA 1.98(previous year 2.18)

Debt to equity Ratio 0.73 (previous year 0.92)

Capital expenditure- INR.1358 cr

Expenditure towards community- INR 62 crore.

Quick facts

Operational generation capacity 3879 MW

Renewable generation power under development 815 MW

Total Consumers 3.71 mn

Units of power distribution in licensed and franchised area 14.5 billion

T&D loss at licensed distribution, among the lowest in the country.

> 99% power reliability among the highest in the country.

Total Annual Revenue

12,210 Cr (FY21)

Year of Inception

1996

Industry

Corporate

Head Office

Ahmedabad

Type of Issuer

Corporate

Current MD/CEO

Mr. Jinal Mehta

Credit Rating / Outlook

AA+ STABLE

CRISIL

Credit rating by different rating agencies indicates the bond issuer’s ability to repay its debt obligations. A bond can be rated by one or more SEBI registered credit rating agencies e.g. CRISIL, CARE, ICRA, IND, BWR, ACUITE, INFOMERICS.
Bonds/NCDs with AA credit rating are considered to have a high degree of safety regarding timely servicing of debt obligations. Such Bonds/NCDs carry very low credit risk.
Stable Outlook suggests that the rating is unlikely to change significantly in the near to medium term, indicating a stable credit profile of the issuer.

Other Important Details & Disclosures

Issuer Name

TORRENT POWER LIMITED

Security Name

ISIN

Copy

INE813H07242

Face Value

₹ 10,00,000

Coupon Rate

8.55%

Coupon Type

FIXED

Payment Terms

Yearly

Maturity Date

2-Jun-2031

Clean Price

₹ 102.85

Dirty Price

Current Yield

Mode of Issue

Private Placement

Date of Issue

2-Jun-2022

Listed

Yes

Instrument Type

Taxable

Security

Secured

Seniority

SENIOR

Perpetual

Trustee Details

Registrar Details

Looking For More Information ?

Request Prospectus

Taxation

10%

TDS on Interest Income*

*Given TDS is indicative and fully claimable while filing ITR. The interest income from this bond will be taxable and will appear in the additional source of income in your ITR. Please consult your tax advisor for precise taxation details
As a listed bond, it is subject to capital gains tax based on the holding period. A holding period of less than 1 year qualifies as short-term, while more than 1 year qualifies as long-term.
You can submit your Form 15G/15H to the registrar and debenture trustee of the bond to avoid the TDS deduction. Download Form

Registrar details: NA

This bond is
currently out of stock

Download Cashflow

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FAQs about TORRENT POWER LIMITED bonds

How to buy this TORRENT POWER LIMITED bond online?

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What is the yield of this TORRENT POWER LIMITED bond?

8.1015% is the current yield of this TORRENT POWER LIMITED bond. A bond’s current yield indicates the annual return based on its current market price and annual coupon payment.
In addition to current yield, the yield to maturity (YTM) of this TORRENT POWER LIMITED bond is 8.1015%, which indicates the total expected return if the bond is held till the maturity date. It is calculated using the XIRR method considering current price, face value, coupon payments, and time to maturity.

Is it safe to invest in bonds?

Investing in bonds is relatively a safer option but it depends on factors like:

The creditworthiness of the issuer indicated by the credit rating
The debt quality of the bond indicated by its seniority and security
Your investment goals and risk appetite

If you are an existing bond investor and want to sell your bond holdings before maturity, you can do so through the secondary market. This can be done either through exchanges such as BSE or NSE, or you can also request a quote from your relationship manager at GoldenPi.

How to redeem this TORRENT POWER LIMITED bond?

To redeem this TORRENT POWER LIMITED bond, bond, kindly first check its redemption value and redemption schedule. This can be found by downloading the cash flow from the “Calculate Your Returns” section of this page or by contacting the support team at GoldenPi.
Once you buy this bond, the units would be reflected in your demat account.
Upon maturity, the bond units held in your demat account will be automatically debited on the maturity date, and if the maturity date falls on a bank holiday, the redemption amount will be paid out on the next working day.
The funds will be credited to the bank account linked to your demat account. The process of redeeming this TORRENT POWER LIMITED bond is generally simple and straightforward. Contact our support team for more information.

Is this TORRENT POWER LIMITED bond tax-free?

No, this TORRENT POWER LIMITED bond is not tax free. The interest income received from these bonds will be treated as “income from other sources” in the ITR and the tax will be calculated as per your income tax slab.

To know more about taxation in detail please read this article: https://goldenpi.com/blogessentials/bond-market/taxation-on-gains-from-bond-investments/

Can I sell this TORRENT POWER LIMITED bond before the maturity date?

Yes, it is possible to sell this TORRENT POWER LIMITED bond before maturity. However, as the sale process happens in the secondary market, the price can be determined by a variety of factors, including interest rates, credit ratings, company performance, and market demand.

To know more about the sale process, contact us at https://goldenpi.com/contact-us

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Highlights

About Issuer

TORRENT POWER LIMITED

Credit Rating / Outlook

Other Important Details & Disclosures

Taxation

How to buy this TORRENT POWER LIMITED bond online?

What is the yield of this TORRENT POWER LIMITED bond?

Is it safe to invest in bonds?

How to redeem this TORRENT POWER LIMITED bond?

Is this TORRENT POWER LIMITED bond tax-free?

Can I sell this TORRENT POWER LIMITED bond before the maturity date?

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