Torrent Power Ltd aims to expand its renewable capacity to 10 GW by 2030

aims to expand its renewable capacity to 10 GW by 2030, up from 2 GW in FY25/26. Jefferies conservatively expects 6 GW by FY30, with 3 GW already awarded. The company enjoys a solid financial structure with a net debt to EBITDA ratio of 1.4, reflecting low leverage and financial comfort. Risks include execution delays and demand growth below expectations, but faster renewable commissioning and new distribution licenses are potential positives.