Why this power stock looks all set to deliver strong returns going forward Synopsis Tata Power’s net debt/equity ratio fell to 1.4 times from 2 times during the past financial year. Rapid scale up of the distribution business and continued good performance by its EPC business are some of the other factors that have made the company a favourite of analysts. With an all round improvement in verticals like generation, transmission and distribution, EPC (engineering, procurement and construction), etc., Tata Power was able to report good numbers for the fourth quarter of 2020-21. In addition to the newly acquired Odisha distribution circle, its 53% y-o-y revenue growth is also triggered by strong execution of the solar EPC projects and performance by the coal division. After the recent acquisition of