Tata Power Solar increases its manufacturing capacity of cells and modules to 1,100 MW
Tata Power Solar systems, the wholly-owned subsidiary of Tata Power, today announced a significant expansion of its manufacturing facility in Bengaluru, taking the total production capacity of cells and modules to 1,100 MW.
The expansion is based on the increase in demand that the company has seen for its solar modules, as well as the expected increase in demand due to supportive policy steps announced recently by the Government of India.
Reacting to this, the company’s stock today increased by 0.91 per cent and made an intraday high of Rs 105.60 per share at 12.30 pm.
Besides, the company reported a net profit of Rs 166 crore in Q3FY21. It had reported a profit of Rs 65.65 crore in Q3FY20, an increase of 152.86 per cent. The company reported net sales of Rs 7,597.91 crore for Q3FY21, an increase of 7.45 per cent as against the net sales of Rs 7,071.03 crore for Q3FY20.
According to BSE data, the stock traded at a P/E multiple of 73.57 and a price-to-book ratio of 1.90. The stock has a 52-week high and a 52-week low of Rs 114.95 and Rs 27, respectively.
At the time of market closing, the stock of the company was trading at Rs 104.10, down by 0.53 per cent on BSE.