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Transcorp Power
On this page
Company details
- Legal name
- Transcorp Power Plc
- Listing
- TRANSPOWER on the Nigerian Exchange, active · ISIN NGTRANSPOWE3 (observed 2026-10-08)
- Sector
- Not classified (our classification from the stated principal activity)
- Financial year ends
- 31 December
Overview
Year ended 31 December 2024 · annual report, signed / final · source
Read with these figures
- Auditor's emphasis of matter. No emphasis of matter or going-concern paragraph; key audit matter: impairment assessment of plant and machinery (PDF pp29-31).
Full wording and sources
Auditor's emphasis of matter
No emphasis of matter or going-concern paragraph; key audit matter: impairment assessment of plant and machinery (PDF pp29-31).
Source: Transcorp Power Plc (Formerly Transcorp Power Limited) Annual Reports and Accounts for the year ended 31 December 2024 (dated 2025-01-22)
-
Revenue
NGN 306 billion
305,943,634 NGN thousands · p35
+115.3% vs 2023
-
Operating profit / (loss)
NGN 114 billion
114,031,097 NGN thousands · p35
+76.5% vs 2023
-
Profit / (loss) for the year
NGN 80.0 billion
80,013,268 NGN thousands · p35
+164.7% vs 2023
-
Total assets
NGN 397 billion
396,782,267 NGN thousands · p36
+77.6% vs 2023
-
Total equity
NGN 127 billion
126,625,614 NGN thousands · p36
+118.8% vs 2023
-
Cash from operations
NGN 54.8 billion
54,848,446 NGN thousands · p38
+119.1% vs 2023
Large amounts are rounded for reading (NGN million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.
Financial statements
Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in NGN thousands unless the row says otherwise; brackets are negative.
† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table
Column sources
- FY2024 — annual report, signed / final; reported for the year · source
- FY2023 — annual report, signed / final; comparative in the FY2024 filing · source
Income statement
| Line (as printed) | FY2024Annual reportreported for the year | FY2023Annual reportcomparative in FY2024 filing |
|---|---|---|
| Revenue from contracts with customers | 305,943,634 | 142,122,364 |
| Cost of sales | (163,733,739) | (66,700,227) |
| Gross profit | 142,209,895 | 75,422,137 |
| Other operating income | 21,156 | 597,949 |
| Impairment loss on financial assets | (8,109,188) | (2,731,924) |
| Administrative expenses | (20,090,766) | (8,663,021) |
| Operating profit | 114,031,097 | 64,625,141 |
| Finance income | 7,342,864 | 3,009,908 |
| Finance cost | (9,858,358) | (7,694,081) |
| Other gain / (loss)1 | 1,771,593 | (7,177,267) |
| Profit before income tax | 113,287,196 | 52,763,701 |
| Income tax expense | (33,273,928) | (22,530,171) |
| Profit for the year | 80,013,268 | 30,233,530 |
| Items that will not be reclassified to profit or loss2 | –3 | –3 |
| Items that may be reclassified to profit or loss4 | –3 | –3 |
| Total comprehensive income for the year | 80,013,268 | 30,233,530 |
- Printed “-”, read as nil: subtotal_arithmetic: is.total_comprehensive_income.
Notes and alternative reported figures (3)
- “Other gain / (loss)”: mapping to a shared definition is uncertain. Other gain/(loss) (note 10.3); the cash-flow statement adds back the same figure as 'Effect of Foreign exchange loss'.
- “Items that will not be reclassified to profit or loss” is an issuer-specific line, not mapped to a shared definition: OCI heading line printed with '-' in both years.
- “Items that may be reclassified to profit or loss” is an issuer-specific line, not mapped to a shared definition: OCI heading line printed with '-' in both years.
Balance sheet
| Line (as printed) | FY2024Annual reportreported for the year | FY2023Annual reportcomparative in FY2024 filing |
|---|---|---|
| Property, plant and equipment | 60,609,082 | 57,979,878 |
| Intangible asset | 9,701,191 | 9,701,191 |
| Investments1 | 17,380,744 | 2,373,892 |
| Non-current assets (unlabelled subtotal) | 87,691,017 | 70,054,961 |
| Inventories | 2,367,501 | 1,760,790 |
| Trade and other receivables | 298,388,501 | 145,206,225 |
| Cash and cash equivalents | 8,335,248 | 6,368,572 |
| Total current assets | 309,091,250 | 153,335,587 |
| Total assets | 396,782,267 | 223,390,548 |
| Share capital | 3,750,000 | 3,750,000 |
| Share premium | 44,385,019 | 44,385,019 |
| Retained earnings | 78,490,595 | 9,727,327 |
| Total equity | 126,625,614 | 57,862,346 |
| Borrowings | 33,093,392 | 29,753,262 |
| Deferred tax liabilities | 7,254,111 | 9,198,374 |
| Non-current liabilities (unlabelled subtotal) | 40,347,503 | 38,951,636 |
| Trade and other payables | 172,446,559 | 98,835,833 |
| Current tax payable | 52,848,904 | 20,181,722 |
| Borrowings | 4,513,687 | 7,559,011 |
| Current liabilities (unlabelled subtotal) | 229,809,150 | 126,576,566 |
| Total liabilities | 270,156,653 | 165,528,202 |
| Total equity and liabilities | 396,782,267 | 223,390,548 |
Notes and alternative reported figures (1)
- “Investments”: mapping to a shared definition is uncertain. Investments in shares and bond securities (note 22).
Cash flow
| Line (as printed) | FY2024Annual reportreported for the year | FY2023Annual reportcomparative in FY2024 filing |
|---|---|---|
| Profit before tax1 | 113,287,196 | 52,763,701 |
| Depreciation of property, plant and equipment2 | 4,901,062 | 4,757,058 |
| Finance income3 | (7,342,864) | (3,009,908) |
| Finance cost4 | 9,858,358 | 14,871,348 |
| Net Impairment allowance on financial assets5 | 8,109,188 | 2,731,924 |
| Effect of Foreign exchange loss6 | 1,771,593 | (3,714,153) |
| Adjustment to property, plant and equipment7 | 1,124,000 | –8 |
| Increase in trade and other receivables9 | (147,313,093) | (50,647,439) |
| Increase in inventories10 | (606,711) | (147,817) |
| Increase in trade and other payables **11 | 73,610,726 | 9,402,482 |
| Cash flows from operating activities | 57,399,455 | 27,007,196 |
| Tax paid | (2,551,009) | (1,976,988) |
| Net cash flows from operating activities | 54,848,446 | 25,030,208 |
| Purchase of property, plant and equipment | (8,654,265) | (4,883,077) |
| Investment in shares12 | (16,778,130) | –13 |
| Proceeds from liquidation of bond securities14 | 1,771,278 | –13 |
| Interest income received | 1,473,681 | 3,009,908 |
| Net cash used in investing activities | (22,187,436) | (1,873,169) |
| Dividend paid | (23,092,160) | (2,322,472) |
| Proceeds from borrowings | 23,463,000 | 14,949,597 |
| Repayments of loan interest ** | (8,156,423) | (7,168,882) |
| Repayments of principal | (23,465,125) | (24,948,341) |
| Net cash used in financing activities | (31,250,708) | (19,490,098) |
| Net movement in cash and cash equivalents | 1,410,302 | 3,666,940 |
| Cash and cash equivalents at the beginning of the year | 6,368,572 | 2,701,632 |
| Effect of foreign exchange on cash balance | 556,374 | –15 |
| Cash and cash equivalents at the end of the year | 8,335,248 | 6,368,572 |
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_generated_from_operations.
- Printed “-”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
- Printed “-”; reading unresolved, so no amount is shown. Printed dash; no printed subtotal confirms a nil reading.
Notes and alternative reported figures (12)
- “Profit before tax” is an issuer-specific line, not mapped to a shared definition: Starting line of the indirect-method reconciliation.
- “Depreciation of property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Note 11.1.
- “Finance income” is an issuer-specific line, not mapped to a shared definition: Note 10.1.
- “Finance cost” is an issuer-specific line, not mapped to a shared definition: Note 10.2.
- “Net Impairment allowance on financial assets” is an issuer-specific line, not mapped to a shared definition: Note 12.
- “Effect of Foreign exchange loss” is an issuer-specific line, not mapped to a shared definition: Note 10.3.
- “Adjustment to property, plant and equipment” is an issuer-specific line, not mapped to a shared definition: Note 15.
- “Increase in trade and other receivables” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
- “Increase in inventories” is an issuer-specific line, not mapped to a shared definition: Working-capital change.
- “Increase in trade and other payables **” is an issuer-specific line, not mapped to a shared definition: Working-capital change; 2023 restated (note 34).
- “Investment in shares” is an issuer-specific line, not mapped to a shared definition: Investing (note 22).
- “Proceeds from liquidation of bond securities” is an issuer-specific line, not mapped to a shared definition: Investing (note 22).
Segments
Segment data not yet collected for this company in the pilot.
Dividends
Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.
| Year ended | Event | Wording as printed | Amount | Unit | Source |
|---|---|---|---|---|---|
| 31 Dec 2024 | Dividends paid (cash flow statement) | Dividend paid |
(23,092,160) | NGN thousands | Annual report, p38 |
| 31 Dec 2023 | Dividends paid (cash flow statement) | Dividend paid |
(2,322,472) | NGN thousands | Annual report, p38 |
Sources
Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.
-
Transcorp Power Plc (Formerly Transcorp Power Limited) Annual Reports and Accounts for the year ended 31 December 2024
Year ended 31 December 2024 · Annual report · signed / final
Audit: Deloitte & Touche, Lagos, unmodified opinion · signed
Auditor's sign-off: Abraham Udenani, FCA, for Deloitte & Touche
Final status: Independent auditor's report closes with a handwritten signature above 'Abraham Udenani, FCA - FRC/2013/PRO/ICAN/004/00000000853, For: Deloitte & Touche, Chartered Accountants, Lagos, Nigeria, 22 January 2025' and the ICAN seal (PDF p34, page image). The statements were approved by the Board on January 21, 2025 and signed by the Chairman, the Chief Finance Officer and the MD/CEO, signatures visible (PDF p36, page image).
- Document date
- 22 Jan 2025
- Published
- 23 Jan 2025
- Auditor's report
- 22 Jan 2025
- Board approval
- 21 Jan 2025
- Retrieved by us
- 8 Oct 2026 (not a publication date)
- Used for
- statement columns FY2024, FY2023
- Basis
- company statements · NGN thousands (printed “N'000”)
- The document prints 'Transcorp Power Plc (Formerly Transcorp Power Limited)' (cover and page headers, p1); the directory name is TRANSCORP POWER PLC: the same entity after re-registration as a public company.
- Non-current assets, non-current liabilities and current liabilities totals are unlabelled (p36). 2023 EPS restated from N92.25 to N4.03 for the share count (note 34); 2023 trade-payables movement and loan-interest repayments restated in the cash-flow statement (note 34). The 2023 cash-flow finance-cost add-back (14,871,348) differs from the 2023 income-statement finance cost (7,694,081), as printed.
Technical details
- File
- 85 pages, with a text layer
- SHA-256
50402dd27348c4b894d71c26914807c3f80cd82513acaf1250900508a2dff361- Entity as printed
- Transcorp Power Plc (Formerly Transcorp Power Limited)
- Exchange copy
- retrieved 2026-10-08T18:04:03Z
Data notes
No figure-level notes beyond those in the tables.
Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (9 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.
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Figures shown on this page (CSV) — the same selected figures at their exact printed values, each with its source document, SHA-256, page, selection rule and reading. Independent review of these figures is pending.