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N Chandrasekaran, Chairman, Tata Power
Tata Power looks to fund its capital expenditure plans through debt and cash-flow generated from its multiple businesses, said N Chandrasekaran, chairman of the company.
The chairman was addressing the company’s shareholders at its annual general meeting (AGM) on Tuesday. He noted, “The company will generate a lot of operating cash flow primarily because we are growing in all segments,” and added, “the company for a long time had the weight of the underperforming or loss-making Mundra which was weighing down the company, and while that problem is intermittently getting solved.”
Chandrasekaran added, the company has expanded into so many different areas now, each of these areas focusing on growth and cash flow generation.
The chairman informed the shareholders that the company plans to invest Rs 12,000 crore as capital expenditure in the current financial year, across renewable, distribution, and transmission segments.
In terms of new business, Chandrasekaran added, “(In nuclear power) the only area we will be open to is what is called the small modular reactors, as and when the opportunities come and the government allows the company to look at entering that field.” He further said, “The company is also evaluating multiple storage technologies, including battery.”
Tracking the company’s transformation over the last few years, the chairman added, “In the last four or five years, the company’s strategy has significantly changed. It has now become a multi-segment integrated power company. The Tata Power Company now should be looked at as industrial as well as consumer.”
As of March, Tata Power’s consolidated debt was Rs 49,480 crore and it has a long-term capex plan of Rs 60,000 crore spread over the next few years.
First Published: Jul 16 2024 | 7:51 PM IST
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