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Transcorp Power Plc is a money spinner that investors should be adding to their portfolios as the company’s third quarter revenue has already exceeded its Full-Year (FY) 2024 numbers, which underscores copious investment in capital expenditures that are yielding fruits.
As at 9 months ended September 2025, Transcorp Power had delivered revenue of N308.54 billion, higher than N305.94 billion it delivered (FY) 2024, which indicates there is going to be robust earnings at the end year 2025.
Analysts at United Capital in a recent note to clients attribute revenue growth to a steady increase in its available power generation capacity following sustained investments in infrastructure and maintenance efficiency.
“Most noticeably, the sharp acceleration in revenue growth from 2023 through 9-month 2025 reflects capacity upgrades and improved reliability across gas-fired units,” said analysts at United Capital.
Transcorp Power operates the Ughelli Power Plant, the largest fossil-fuel-based power station in Nigeria, with an installed capacity of 972MW.
As a subsidiary of Transnational Corporation Plc, the company has grown daily output by more than 500 percent and now aims to expand capacity to 3,000MW over the next five years.
It currently has a combined installed capacity of about 2,000MW as its plants are undergoing some upgrade and maintenance that will enable it ramp up and maintain available capacity.
The power company is trading at an attractive entry point for value investors.
For instance, it has a price to earnings ratio of 7.12 times.
The company’s revenue spiked by 38.50 percent to N308.54 billion in September 2025 from N223.55 billion as at September 2024.
Debt to equity ratio stood at 21.60 percent in the period under review, which is 29.69 percent as at September 2024. A low debt to equity ratio means Transcorp Power is more likely to be financially stable, as it is less likely to default on loans.
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