Operationally, the company delivered resilient performance. EBITDA increased 9% YoY to Rs 5,573 crore from Rs 5,098 crore. Plant load factor (PLF) stood largely stable at 74%, indicating consistent utilisation levels.
The growth in volumes was driven by additional capacity and new power purchase agreements (PPAs), including operational ramp-up at the Butibori plant. However, merchant and short-term sales declined to 5.2 BU from 5.6 BU in the year-ago period, as demand in the spot market remained subdued and renewable energy penetration increased.
For the full year FY26, total units sold stood at 99.1 BU compared to 95.9 BU in FY25, indicating steady growth in dispatch volumes even as PLF declined to 66.5% from 70.5% earlier.
A key development during the quarter was the award of a 1,600 MW long-term PPA from Maharashtra’s distribution utility under the DBFOO model. The agreement is expected to provide long-term revenue visibility and support capacity utilisation going forward.
MORE TO COME….