WHEN ON MARCH 30 this year the board of Tata Power extended the term of CEO & MD Praveer Sinha for another four years till April 2027, it didn’t surprise many. For under the 60-year-old Sinha’s stewardship, Tata Power has gradually transformed into a new-age, sustainable, technology-oriented and customer-centric green energy solutions company. So, how did he do it? Let us find out.
To understand Sinha’s impact, let us look at a few numbers. When he took charge in May 2018, Tata Power’s market capitalisation was at ₹23,843 crore. Nearly five years later, and the figure has grown to ₹61,813.84 crore as of April 19 this year—an increase of 159 per cent! Its consolidated total income for 2017-18 was ₹29,763.91 crore; for the nine months ended December 31, 2022, the figure was already at ₹43,221.80 crore. For FY18, Ebitda was at ₹6,296 crore; at the end of December 2022, this number stood at ₹6,968 crore. With such a track record backing him, Sinha has emerged as the winner in the Power category of the BT-PwC India’s Best CEOs ranking.
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