Shares of Torrent Power Ltd are trading flat on 24th September after touching a day’s high of Rs 1,289.50, even as the company announced the Rs 211 crore acquisition of Newzone India Private Limited (NZIPL) and Newzone Power Projects Private Limited (NZPPPL).

The deal includes 11,95,110 shares of NZIPL (49% equity) and 30,00,000 shares of NZPPPL (100% equity) from the Sarawagi Family and related HUFs. Since NZPPPL already owns 51% of NZIPL, Torrent Power will effectively control both companies.

NZIPL holds about 922 acres of private and government-leased land in Annupur district, Madhya Pradesh. This land is earmarked for a thermal power project. The firms have no other assets and reported no turnover in the past three years.

The cash-based deal is not a related party transaction and is expected to close within four months. NZIPL was incorporated on 12th October 1999, and NZPPPL on 28th February 2008, both for power generation purposes.

In Q1FY26, Torrent Power’s net profit fell 24.7% to Rs 731 crore from Rs 972 crore a year ago. Revenue slipped 12.5% to Rs 7,906 crore. Meanwhile, EBITDA dropped 20.2% to Rs 1,483 crore and margin narrowed to 18.7% from 20.6%. Total comprehensive income stood at Rs 739 crore, compared to Rs 993 crore in the previous year.

The company stated that lower power demand from the early monsoon and higher gas prices hurt merchant gains. However, adjusted earnings remained broadly in line with those of last year.

At 11:00 AM, the shares of Torrent Power were trading 0.36% lower at Rs 1,274.70 on NSE.

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