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Torrent Power

2021-08-24T05:14:14Z

2405:201:D002:39CC:28D4:73AC:19A5:E12A:

{{Short description|Indian enery and Power company}}
{{Use dmy dates|date=November 2018}}
{{Use Indian English|date=November 2018}}
{{Infobox company
| name = Torrent Power Limited
| logo = [[File:Torrent Power logo.svg|Torrent Power logo|200px]]
| type = [[Public company|Public]]
| traded_as = {{plainlist|
*{{BSE|532779}}
*{{NSE|TORNTPOWR}}}}
| ISIN = INE813H01021
| foundation = {{start date and age|1996}}
| location = [[Ahmedabad]], [[Gujarat]], India
| industry = [[Energy industry|Energy]]
| products = Sale and distribution, [[electricity generation]] and [[electricity distribution|distribution]], [[wind power]], [[Commodity markets|energy trading]]
| key_people = {{plainlist|
*Sudhir Mehta
*Samir Mehta}}
| revenue = {{increase}} {{INRConvert|12172|c}} (2021<ref name="Financials">{{cite web|url=https://www.moneycontrol.com/india/stockpricequote/powergenerationdistribution/torrentpower/TP14|title=Torrent Power Ltd. Financial Statements |website=moneycontrol.com}}</ref>
| operating_income = {{increase}} {{INRConvert|1429|c}} (2020)<ref name="Financials"/>
| net_income = {{increase}} {{INRConvert|1295|c}} (2021)<ref name="Financials"/>
| assets = {{increase}} {{INRConvert|20972|c}} (2021)<ref name="Financials"/>
| equity = {{increase}} {{INRConvert|8672|c}} (2020)<ref name="Financials"/>
| num_employees = 7,874 (2020)<ref name="Financials"/>
| parent = [[Torrent Group]]
| homepage = {{url|www.torrentpower.com/}}
}}

'''Torrent Power''' is an Indian [[energy]] and [[Electric power|power]] company, having interests in [[Electricity generation|power generation]], [[Electric power transmission|transmission]], [[Electric power distribution|distribution]] and manufacturing and supply of [[power cable]]s.<ref>{{Cite news|title=Torrent Power Ltd.|work=Business Standard India|url=https://www.business-standard.com/company/torrent-power-18488/information/company-history|access-date=2021-07-25}}</ref> The company distributes power to over 3.65 million customers annually in its distribution areas of [[Ahmedabad]], [[Gandhinagar]], [[Surat]], [[Dahej Port|Dahej SEZ]] and [[Dholera|Dholera SIR]] in [[Gujarat]]; [[Bhiwandi]], [[Shil Phata|Shil]], [[Mumbra]] and [[Kalwa, Thane|Kalwa]] areas of [[Mumbai Metropolitan Region]] in [[Maharashtra]]; and [[Agra]] in [[Uttar Pradesh]].<ref>{{Cite news|title=Torrent Power Q1 results: Profit up 35% at Rs 374 cr|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/earnings/torrent-power-q1-results-profit-up-35-at-rs-374-cr/articleshow/77400300.cms?from=mdr|access-date=2021-07-25}}</ref> The T&D losses in license areas of the company is amongst the lowest in the country.

==History==
[[Torrent Group]] took-over and successfully turned around an ailing power cable company Mahendra Electricals,<ref>{{Cite web|date=2018-02-08|title=Torrent Power puts in place succession plan|url=https://indianexpress.com/article/business/companies/torrent-power-puts-in-place-succession-plan-5055943/|access-date=2021-07-25|website=The Indian Express|language=en}}</ref> renaming it as ‘Torrent Cables Ltd.’ (now merged with Torrent Power w.e.f. 1 April 2014). The high points of Torrent’s foray into power however were the acquisitions of two of the India’s oldest utilities – The Surat Electricity Company Ltd and The Ahmedabad Electricity Company Ltd. In 1997, the company completed its acquisition of the Ahmedabad Electricity Company by purchasing the entire 28.89% stake held by the Gujarat government.<ref>[http://www.indianexpress.com/res/web/pIe/ie/daily/19970804/21650353.html Nod for Rs 400-cr Torrent issue]. [[Indian Express]]</ref> This acquisition formed what was then known as Torrent Power AEC Limited. Similarly, after acquiring the Surat Electricity Company in the same deal, Torrent Power SEC Limited was formed. Torrent turned them into first rate power utilities, in terms of operational efficiencies and reliability of power supply.

In 2005, the parent company, [[Torrent Group]] floated the company Torrent Power Generation to further expand into the power business. In 2006, the three power-related companies of [[Torrent Group]], Torrent Power AEC Ltd, Torrent Power SEC Ltd, and Torrent Power Generation Ltd were merged to form Torrent Power.<ref>[http://www.thehindubusinessline.in/bline/blnri/2006/03/24/stories/2006032403460300.htm Torrent group merges power cos]. [[Business Line]]</ref>
Torrent Power created history by entering into the country’s first distribution franchisee agreement with [[Maharashtra State Electricity Distribution Company Limited]] for Bhiwandi Circle in December 2006. In 2009 it was awarded the distribution franchise for [[Agra]] in [[Uttar Pradesh]]. During FY 19 the Company was awarded distribution license for [[Dholera]] Special Investment Region (in [[Gujarat]]) and distribution franchise for Shil, Mumbra & Kalwa (SMK) area in [[Mumbai Metropolitan Region]] of [[Maharashtra]].

==Operations==
[[File:SabarmatiThermalPlant.jpg|thumb|Torrent Power thermal power station at Sabarmati, Ahmedabad. It is one of the oldest thermal plants in India (1934)]]

===Generation===
Torrent Power has an aggregate generating capacity of 3879 MW with a unique mix of [[Coal-fired power station|coal based]], [[Gas-fired power plant|gas based]], and [[Renewable energy|renewable power plants]] comprising:
*1530 MW (4 Single Shaft Units of 382.5 MW each) SUGEN gas based mega [[combined cycle power plant]] in Akhakhol village near [[Surat]] - largest [[private sector]] [[Gas-fired power plant|gas based]] power plant in India.
*1200 MW (3 Single Shaft Units of 400 MW each) DGEN gas based mega [[combined cycle power plant]] in [[Dahej Port|Dahej SEZ]].
*362 MW (1 unit of 120 MW and 2 units of 121 MW each) coal based [[Sabarmati Thermal Power Station]] at Sabarmati, [[Ahmedabad]]
*786.5 MW Renewable plants (Wind - 648.5 MW and Solar - 138 MW) spread across [[Jamnagar]], Charanka, Akhakhol near [[Surat]], [[Kutch]], [[Rajkot]], [[Bhavnagar]] in [[Gujarat]]; [[Gulbarga]] & [[Raichur]] in [[Karnataka]] and [[Osmanabad]] in [[Maharashtra]].

===Transmission===
Torrent Power operates 400 kV double circuit transmission lines implemented by it, for evacuating power generated at SUGEN and DGEN plant to various off-take centres.
*SUGEN to [[Ahmedabad]] Distribution Area - 400 KV Double Circuit Line to [[Power Grid Corporation of India|PGCIL]]'s Pirana Substation in [[Ahmedabad]] implemented through Torrent Power Grid Limited, a Joint venture with [[Power Grid Corporation of India|PGCIL]] in which Torrent has 74% stake.
*SUGEN to [[Surat]] Distribution Area and to [[Gujarat Energy Transmission Corporation|GETCO]] - 3 x 220 KV dedicated transmission lines to cater to power requirements of [[Surat]] distribution area and 220 KV line to [[Kim, Gujarat|Kim]] substation of [[Gujarat Energy Transmission Corporation|GETCO]].
*DGEN to [[Power Grid Corporation of India|PGCIL]]'s [[Navsari]] sub-station - 400 kV Double Circuit line
*Other transmission networks include 220/132 kV transmission system in [[Ahmedabad]] distribution area.

===Distribution===
The company distributes power to over 3.65 million customers annually in its distribution areas of [[Ahmedabad]], [[Gandhinagar]], [[Surat]], [[Dahej Port|Dahej SEZ]] and [[Dholera|Dholera SIR]] in [[Gujarat]]; [[Bhiwandi]], [[Shil Phata|Shil]], [[Mumbra]] and [[Kalwa, Thane|Kalwa]] areas of [[Mumbai Metropolitan Region]] in [[Maharashtra]]; and [[Agra]] in [[Uttar Pradesh]].
The T&D losses in license areas of the company is amongst the lowest in the country. The T&D losses in Gujarat at 6.54% is amongst the lowest in the country.
Torrent Power has managed reduction in AT&C losses in [[Bhiwandi]] from 58% at the time of takeover to 14.90% in FY 2018-19, and from 58.77% at the time of takeover to 16.11% in FY 2018-19 in [[Agra]].

===Cables===
The Cables Unit manufactures Power & Control Cables and is one of the market leaders in HT Power Cable segment with a manufacturing capability of up to 132 kV XLPE Cables.

==References==
{{Reflist}}

==External links==
* {{Official website|http://www.torrentpower.com/}}

{{PCOI}}
{{Torrent Group}}
{{Nifty 200 companies}}

[[Category:Companies based in Ahmedabad]]
[[Category:Electric power companies of India]]
[[Category:Energy companies established in 1996]]
[[Category:Energy in Maharashtra]]
[[Category:Torrent Group]]
[[Category:1996 establishments in Gujarat]]
[[Category:Indian companies established in 1996]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]

Torrent Group

2021-08-24T05:13:07Z

2405:201:D002:39CC:28D4:73AC:19A5:E12A:

{{Short description|Indian multinational conglomerate company}}
{{More citations needed|date=January 2017}}
{{Use dmy dates|date=November 2018}}
{{Use Indian English|date=November 2018}}
{{Infobox company
| name = Torrent Group
| logo = Torrent_group_logo.png
| logo_size = 250px
| image =
| image_caption =
| type = [[Private company|Private]]
| industry = [[Conglomerate (company)|Conglomerate]]
| founded = {{start date and age|1959}}
| founder = [[Uttambhai Nathalal Mehta]]<ref name=FounderPR/>
| location = [[Ahmedabad]], [[Gujarat]], India
| area_served = Worldwide
| key_people = {{plainlist|
*[[Samir Mehta]] ([[Chairman]])<ref name="Chairs">{{cite press release|title=Board of Directors|url=https://torrentpharma.com/index.php/site/aboutBoard}}</ref>
*[[Sudhir Mehta]] ([[Non-executive director|Chairman emeritus]])<ref name=Chairs/>}}
| products =
| revenue =
| revenue_year =
| assets =
| assets_year =
| owner =
| num_employees =
| subsid = {{plainlist|
*[[Torrent Pharmaceuticals]]
*[[Torrent Power]]
*[[Torrent Cables]]
*Torrent Gas}}
| homepage = {{url|www.torrentlimited.com}}{{dead link|date=February 2021}}
}}

'''Torrent Group''' is an Indian [[multinational corporation|multinational]] [[Conglomerate (company)|conglomerate]], based in [[Ahmedabad]]. It was founded by [[U. N. Mehta|Uttambhai Nathalal Mehta]],<ref name="FounderPR">{{Cite press release|title=U N Mehta - Founder|url=https://torrentgas.com/frontend/web/index.php/site/info/aboutfounder|publisher=Torrent Gas}}</ref> and now run by his sons, [[Sudhir Mehta|Sudhir]] and [[Samir Mehta]].<ref name=Chairs/> The core businesses of the group are gas, pharmaceuticals and power.<ref>{{Cite news|url=https://timesofindia.indiatimes.com/business/india-business/Torrent-brothers-divide-business/articleshow/34903104.cms|title=Torrent brothers divide business|work=[[The Times of India]]|access-date=2021-02-11}}</ref>

== Subsidiaries ==
The various companies under the Torrent banner are:

* [[Torrent Pharmaceuticals]] – One of the largest pharmaceutical companies of India. It has four manufacturing plants: (a) Chhatral, [[Gujarat]] and (b) Baddi, [[Himachal Pradesh]] c) Gangtok [[Sikkim]] and d) Dahej, [[Gujarat]].TPL has Research Centre at Indrad, Near Ahmedabad in [[Gujarat]].
* [[Torrent Power]] – Responsible for generation, transmission and distribution of power to the cities of [[Ahmedabad]] and [[Surat]]. The company has taken up distribution of electricity in [[Bhiwandi]] Maharashtra, [[Agra]] and [[Kanpur]] Uttar Pradesh.
* [[Torrent Cables]]- Torrent cables was taken over from ailing Mahindra Electricals and revamped. It manufactures up to 132KV XLPE cables.
* Torrent Gas – Torrent Group has now forayed into City Gas Distribution business in different parts of India. Torrent Gas has its presence in 16 Geographical Areas spread across 32 districts covering 7 States and 1 UT in India.

==Charity==
In 2020, the company has contributed a total of 100cr to PM fund to fight against coronavirus pandemic.<ref>{{Cite news|url=https://www.businesstoday.in/current/corporate/torrent-group-commits-rs-100-crore-to-fight-coronavirus-pandemic/story/399668.html|title=Torrent Group commits Rs 1000 crore to fight coronavirus pandemic|work=[[Business Today (India)|Business Today]]|access-date=2021-02-11}}</ref>

==Notes==
{{Notelist}}

==References==
{{Reflist}}

==External links==
* {{webarchive|url=https://web.archive.org/web/20060506091821/http://www.torrentlimited.com/index.htm|date=6 May 2006}}

{{Torrent Group}}

[[Category:Companies based in Ahmedabad]]
[[Category:Torrent Group]]
[[Category:Indian companies established in 1959]]
[[Category:1959 establishments in Bombay State]]

{{india-company-stub}}

Torrent Pharmaceuticals

2021-08-24T05:09:30Z

2405:201:D002:39CC:28D4:73AC:19A5:E12A:

{{short description|Indian multinational pharmaceutical company}}
{{More citations needed|date=April 2010}}
{{Use dmy dates|date=November 2018}}
{{Use Indian English|date=November 2018}}
{{Infobox company
| name = Torrent Pharmaceuticals Limited
| type = [[Public company|Public]]
| traded_as = {{plainlist|
*{{BSE|500420}}
*{{NSE|TORNTPHARM}}}}
| ISIN = INE685A01028
| logo = Torrent-pharmaceuticals-logo.png
| foundation = {{start date and age|1959}}
| location = [[Ahmedabad]], [[Gujarat]], India
| founders = [[U. N. Mehta]]
| key_people = [[Sudhir Mehta]], [[Samir Mehta]]
| area_served = Worldwide
| industry = [[Pharmaceutical industry|Pharmaceuticals]]
| products = {{hlist|[[Pharmaceutical]]s |[[Generic drug]]s |[[Over-the-counter drug]]s |[[Vaccine]]s |[[Medical diagnosis|Diagnostics]] |[[Contact lens]]es |[[Veterinary medicine|Animal health]] }}
| revenue = {{increase}} {{INRConvert|8060|c}} (2020)<ref name="Financials">{{cite web|url=https://www.moneycontrol.com/india/stockpricequote/pharmaceuticals/torrentpharmaceuticals/TP06|title=Torrent Pharmaceuticals Ltd. Financial Statements |website=moneycontrol.com}}</ref>
| operating_income = {{increase}} {{INRConvert|1637|c}} (2020)<ref name="Financials"/>
| net_income = {{increase}} {{INRConvert|1024|c}} (2020)<ref name="Financials"/>
| assets = {{increase}} {{INRConvert|14037|c}} (2020)<ref name="Financials"/>
| equity = {{increase}} {{INRConvert|4738|c}} (2020)<ref name="Financials"/>
| num_employees = 12,881 (2020)<ref name="Financials"/>
| parent = [[Torrent Group]]
| homepage = [http://www.torrentpharma.com/ www.torrentpharma.com]
}}

'''Torrent Pharmaceuticals Ltd''' is an Indian [[multinational corporation|multinational]] [[pharmaceutical company]], owned by [[Torrent Group]] and headquartered in [[Ahmedabad]]. It was promoted by [[U. N. Mehta]], initially as Trinity Laboratories Ltd, and was later renamed Torrent Pharmaceuticals Ltd.

Torrent Pharmaceuticals operates in more than 40 countries with over 2000 product registrations globally. Torrent Pharma is active in the therapeutic areas of Cardiovascular (CV), central nervous system (CNS), gastro-intestinal, diabetology, anti-infective and pain management segments. It has also forayed into the therapeutic segments of nephrology and oncology while also strengthening its focus on gynecology and pediatric segments.
Drug firm Torrent Pharmaceuticals on 23 July 2019 reported a 32.51 percent rise in its consolidated net profit to Rs 216 crore for the quarter ended 30 June, mainly on account of robust sales in most geographies.<ref>{{cite news|url=https://business.medicaldialogues.in/torrent-pharma-q1-net-profit-up-33-percent-to-rs-216-crore/|title= Torrent Pharma Q1 net profit up 33 percent to Rs 216 crore
|date=23 July 2019|work=Medical Dialogues}}</ref>

== Subsidiaries ==
It has 7 fully owned subsidiaries:
# Heumann Pharma GmbH & Co Generica KG, [[Germany]]
# Torrent Pharma GmbH, [[Germany]]
# Torrent do Brasil Ltda., [[Brazil]]
# ZAO Torrent Pharma, [[Russia]]
# Torrent Pharma Inc., [[United States]]
# Torrent Pharma Philippines Inc., [[Philippines]]
# Torrent Pharma Canada Inc., [[Canada]]
# Torrent Pharma UK United Kingdom

Torrent Pharmaceuticals acquired Heumann GmbH, a [[Pfizer]] company, in 2005.

==Operations==
The company's key areas are Formulations, API, Drug Discovery, Marketing and Sales of Drugs. Its operations locations are:
* Manufacturing plant at Dahej, [[Gujarat]]
* Manufacturing plant<ref>{{Cite web|url=https://www.vccircle.com/torrent-pharma-acquires-us-based-bio-pharm/|title=Torrent Pharma acquires US-based Bio-Pharm|last=Sunkara|first=Keshav|date=19 January 2018|website=VCCIRCLE|access-date=20 July 2019}}</ref> at Pithampur,<ref>{{Cite news|url=https://economictimes.indiatimes.com/industry/healthcare/biotech/pharmaceuticals/torrent-pharma-gets-establishment-nod-from-usfda/articleshow/51453971.cms|title=Torrent Pharma gets establishment nod from USFDA|last=PTI|date=18 March 2016|work=The Economic Times|access-date=20 July 2019}}</ref> [[Madhya Pradesh]]
* Manufacturing plant at Indrad, Mehsana, [[Gujarat]]
* Manufacturing plant at Baddi, [[Himachal Pradesh]]
* 3 Manufacturing plant at Rang-Po,(Sikkim)
* Research Centre, [[Ahmedabad]]-[[Gandhinagar]] region, [[Gujarat]]
* Corporate Office, beside sales India, off. Ashram Road, [Ahmedabad]- [[Gujarat]]
* Manufacturing plant at Visakhapatnam (Andhra Pradesh)

==Recalls==
In 2018, Torrent Pharmaceuticals recalled tablets containing [[valsartan]]<ref name=ucm617821>{{cite web |title=Torrent Pharmaceuticals Limited Issues Voluntary Nationwide Recall of Valsartan/Amlodipine/HCTZ, Valsartan/Amlodipine and Valsartan Tablets |url=https://www.fda.gov/Safety/Recalls/ucm617821.htm |year=2018 |quote=<small>Torrent Pharmaceuticals Limited is voluntarily recalling ALL LOTS within expiry of Valsartan/Amlodipine/HCTZ, Valsartan/Amlodipine and Valsartan tablets to the consumer level due to the detection of trace amounts of an unexpected impurity found in an active pharmaceutical ingredient (API) manufactured by Zhejiang Huahai Pharmaceuticals. The impurity detected in the API is N-nitrosodimethylamine (NDMA), which is a substance that occurs naturally in certain foods, drinking water, air pollution, and industrial processes, and has been classified as a probable human carcinogen as per International Agency for Research on Cancer (IARC) classification.</small>}}</ref><ref name=ucm613916>{{cite web |url=https://www.fda.gov/Drugs/DrugSafety/ucm613916.htm |title=FDA updates on valsartan recalls |year=2018}}</ref> and [[losartan]]<ref name=ucm628966>{{cite web |title=Torrent Pharmaceuticals Limited Issues Voluntary Nationwide Recall of Losartan Potassium Tablets, USP |url=https://www.fda.gov/Safety/Recalls/ucm628966.htm |year=2018 |quote=<small>Torrent Pharmaceuticals Limited is voluntarily recalling 2 lots of Losartan potassium tablets, USP to the consumer level due to the detection of trace amounts of an unexpected impurity found in an active pharmaceutical ingredient (API) manufactured by Hetero Labs Limited. The impurity detected in the API is N-nitrosodiethylamine (NDEA), which is a substance that occurs naturally in certain foods, drinking water, air pollution, and industrial processes, and has been classified as a probable human carcinogen as per International Agency for Research on Cancer (IARC) classification.</small>}}</ref> due to the detection of [[N-nitrosodimethylamine|''N''-nitrosodimethylamine]] (NDMA) and [[N-Nitrosodiethylamine|''N''-nitrosodiethylamine]] (NDEA) respectively which are probable human carcinogens.

In September 2019, the FDA issued notice of a sixth [[product recall]] of losartan by Torrent Pharmaceuticals when certain batches of losartan contained the contaminant, N-methylnitrosobutyric acid (NMBA), above acceptable daily intake levels determined by the FDA.<ref name="fda9-23-19">{{cite web |title=Updated: Torrent Pharmaceuticals Limited Expands Voluntary Nationwide Recall of Losartan Potassium Tablets, USP and Losartan Potassium / Hydrochlorothiazide Tablets, USP |url=https://www.fda.gov/safety/recalls-market-withdrawals-safety-alerts/updated-torrent-pharmaceuticals-limited-expands-voluntary-nationwide-recall-losartan-potassium-0 |publisher=US Food and Drug Administration |accessdate=23 September 2019 |date=23 September 2019}}</ref>

==References==
{{reflist|2}}

==External links==
*{{Official}}

{{Torrent Group}}
{{Nifty 200 companies}}

[[Category:Companies based in Ahmedabad]]
[[Category:Pharmaceutical companies of India]]
[[Category:Pharmaceutical companies established in 1959]]
[[Category:Indian brands]]
[[Category:Torrent Group]]
[[Category:1959 establishments in Bombay State]]
[[Category:Indian companies established in 1959]]
[[Category:Companies listed on the National Stock Exchange of India]]
[[Category:Companies listed on the Bombay Stock Exchange]]