Stockrabit · Analysts
Questions across 2 calls

Nikhil Bhandari

Goldman Sachs

Tata Power Company Limited

Tata Power Company Limited CC-Feb26.pdf · 2026-02-04
Hi. Thank you. Thank you for the opportunity. I just want to ask about the cell and the module business. The profitability currently is, of course, phenomenally pretty high. And I understand many of the other companies have not been able to ramp up their cell plants with a good yield on time. But how do you see the sustainability of these margins, let's say, beyond next 6 months to 12 months? And a connected question would be for your rooftop solar business margins as well. How much of your rooftop solar margins are currently benefiting from this policy support of the ALMM requirement for the cells, because you have your own cells. So, probably that positions you to make a higher margin. How much of that margin strength is because of this benefit? And how do you see the durability of this advantage if the cells become more widely available in the market? Thank you.
Understood. Thank you.

Hitachi Energy India Limited

Hitachi Energy India Limited CC-Mar25.pdf · 2025-05-15
Congratulations on the great set of results. Can I ask the margins profile typically for the HVDC projects versus your base business? If you can provide any kind of color or range, that will be pretty helpful?
Understood. And just a follow-up question to your capacity or bandwidth constraints for taking more HVDC projects. You mentioned that's quite dynamic and you can probably operate multiple projects. But what could be bottlenecks or constraints if you were to think as a risk in terms of taking multiple more projects from here on the HVDC line? Any thoughts on what could be the potential constraints for you to take, let's say, another two or three projects in the next one to two years? 16/23