⚡ India Power Corporation: 100-Year-Old Discom Still Running on “Other Income” and Prayers
Date of Publishing -
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At a Glance
Q1FY26 results? One word: ✨underwhelming✨. Power sales fell, profits barely flickered, and ₹165 Cr of electricity duty landed like a lightning bolt. Oh, and they spun off their non-regulated business to a new babyco. Because why not add some smoke to the mirrors?
1. 📢 Intro – Kya Power, Kya Legacy?
Founded in 1919, this is one of India’s oldest power players. But don’t let the heritage fool you — financially, it’s hanging on by the wires. ROE? 0.74%. OPM? What OPM? P/E? 200x. Yes, you read that right.
2. ⚙️ WTF Do They Even Do?
India Power has two faces:
Regulated Biz (93%) → Power distribution in Asansol (WB), backed by WBERC → Also includes thermal generation for in-house use
Non-Regulated Biz (7%) → Renewable generation, smart grid, EV push, buzzwords → Transferred to IPCL Power in July 2025 via slump sale 🧾
