Adani Power Limited ADANIPOWER NSEINFRA

Utilities · Utilities - Independent Power Producers · India

https://www.adanipower.com

Adani Power Limited engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India. The company generates electricity through thermal energy sources through various power projects with a combined installed and commissioned capacity of 17,550 megawatt (MW). It also operates various coal based power plants comprising 4,620 MW at Mundra, Gujarat; 3,300 MW at Tiroda, Maharashtra; 1,320 MW at Kawai, Rajasthan; 1,200 MW at Udupi, Karnataka; 600 MW at Raigarh and Korba, Chhattisgarh; 1,370 MW at Raipur, Chhattisgarh; 1,200 MW at Mahan, Madhya Pradesh; 1,200 MW at Mutiara, Tamil Nadu; 1,600 MW at Mirzapur, Uttar Pradesh; 500MW at Dahanu, Maharashtra; and 1600 MW at Godda, Jharkhand. The company also operates solar based power plant comprising 40 MW at Bitta, Gujarat. In addition, it engages in coal import and supply/trading business. Adani Power Limited was founded in 1988 and is headquartered in Ahmedabad, India.

Market & Price

Market Cap

₹4.69 L Cr

Current Price

₹243.37

High / Low (52W)

₹248.91 / ₹106.05

Beta

0.50

Valuation

Stock P/E

36.76

Industry PE

25.70

Forward P/E

28.85

PEG Ratio

Book Value

₹33.62

Price to Book

7.24

P/S

8.65

EV/EBITDA

26.49

Dividend Yield

Profitability & Returns

ROCE

15.47%

ROE

20.91%

ROA

7.48%

Profit Margin

23.66%

Op Margin

25.39%

EPS (Latest Qtr)

₹2.08

EPS (TTM)

₹6.62

Balance Sheet & Liquidity

Debt/Equity

0.82

Quick Ratio

0.79

Current Ratio

1.41

Debt

₹54,670.29 Cr

Total Assets

₹1.42 L Cr

Current Assets

₹28,688.08 Cr

Working Capital

₹8,359.87 Cr

Ownership

Promoter Holding

71.80%

Chg in Prom Hold

0.00%

FII / Inst Holding

18.50%

Chg in FII Hold

0.11%

Financial Snapshot

Enterprise Value

₹5.23 L Cr

Total Revenue (TTM)

₹54,240.52 Cr

EBITDA

₹19,744.34 Cr

Free Cash Flow

₹-8,656.76 Cr

Operating Cash Flow

₹20,513.65 Cr

Shares Outstanding

₹1,928.47 Cr

Gross Margin

42.62%

Payout Ratio

0.00%

Growth (CAGR)

Revenue 5Y

12.57%

Profit 5Y

6.16%

Revenue (YoY)

-0.10%

Earnings (YoY)

88.80%

PROS

Strong return on equity of 20.9%.
Excellent profit margin of 23.7%.
Compounding revenue at 12.6% over 5 years.
In a confirmed uptrend (50-DMA above 200-DMA).

CONS

No notable concerns flagged.

* The pros and cons are auto-generated from financial metrics.

Price Chart

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Fundamental Growth

Period: Metric:

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Utilities).

#	Name	CMP ₹	P/E	Mkt Cap	Div Yld %	ROCE %	ROE %	Rev CAGR 5Y %	Profit CAGR 5Y %
1	ADANIPOWER Adani Power Limited NSEINFRA	243.37	36.76	₹4.69 L Cr	-	15.47%	20.91%	12.57%	6.16%
2	NTPC NTPC Limited NIFTY50NSEINFRAPSU	386.90	12.71	₹3.75 L Cr	2.93%	9.27%	13.69%	2.49%	16.95%
3	POWERGRID Power Grid Corporation of India Limited NIFTY50NSEAIINFRAPSU	290.55	14.45	₹2.70 L Cr	4.22%	10.70%	16.49%	2.02%	1.09%
4	ADANIGREEN Adani Green Energy Limited NSEINFRA	1,475.40	153.85	₹2.43 L Cr	-	6.51%	7.58%	18.47%	19.26%
5	ADANIENSOL Adani Energy Solutions Limited NSEINFRA	1,513.30	81.32	₹1.82 L Cr	-	8.72%	9.66%	28.29%	22.02%
6	ENRIN Siemens Energy India Limited NSEINFRA	3,872.10	105.28	₹1.38 L Cr	0.10%	29.23%	-	63.51%	83.35%
7	TATAPOWER Tata Power Company Limited NSEAIINFRA	420.75	35.96	₹1.34 L Cr	0.59%	8.76%	11.34%	4.88%	3.95%
8	JSWENERGY JSW Energy Limited NIFTY_MIDNSEINFRA	595.05	46.74	₹1.09 L Cr	0.34%	7.51%	8.82%	24.01%	14.86%
9	GAIL GAIL (India) Limited NSEINFRAPSU	164.51	14.27	₹1.08 L Cr	7.60%	9.12%	8.69%	-0.86%	10.53%

Quarterly Results

Figures in INR.

Metric	Dec 2024	Mar 2025	Jun 2025	Dec 2025	Mar 2026
Revenue	13,671.18 Cr	14,237.40 Cr	14,109.15 Cr	12,451.44 Cr	14,223.09 Cr
Cost of Revenue	7,648.96 Cr	8,160.22 Cr	7,433.59 Cr	7,037.84 Cr	8,158.22 Cr
Gross Profit	6,022.22 Cr	6,077.18 Cr	6,675.56 Cr	5,413.60 Cr	6,064.87 Cr
Operating Expenses	2,169.31 Cr	2,349.20 Cr	2,078.87 Cr	2,310.83 Cr	2,479.63 Cr
Operating Income	3,852.91 Cr	3,727.98 Cr	4,596.69 Cr	3,102.77 Cr	3,585.24 Cr
EBITDA	6,185.18 Cr	5,110.83 Cr	6,149.83 Cr	4,781.33 Cr	6,498.47 Cr
Interest Expense	956.53 Cr	764.90 Cr	856.93 Cr	701.01 Cr	967.26 Cr
Pretax Income	4,058.64 Cr	3,261.28 Cr	4,204.31 Cr	2,945.02 Cr	4,383.98 Cr
Tax Provision	1,118.57 Cr	662.05 Cr	899.18 Cr	456.93 Cr	112.58 Cr
Net Income	3,057.21 Cr	2,636.97 Cr	3,384.86 Cr	2,479.58 Cr	4,017.08 Cr
Diluted EPS	1.53	1.32	1.72	1.29	2.08

Profit & Loss (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Revenue	-	38,023.03 Cr	50,051.07 Cr	56,203.09 Cr	54,240.52 Cr
Cost of Revenue	-	27,188.52 Cr	30,292.73 Cr	31,089.33 Cr	29,935.10 Cr
Gross Profit	-	10,834.51 Cr	19,758.34 Cr	25,113.76 Cr	24,305.42 Cr
Operating Expenses	-	4,226.22 Cr	5,010.88 Cr	8,117.20 Cr	9,063.84 Cr
Operating Income	-	6,608.29 Cr	14,747.46 Cr	16,996.56 Cr	15,241.58 Cr
EBITDA	-	14,018.54 Cr	27,802.27 Cr	24,008.18 Cr	23,430.87 Cr
Interest Expense	-	3,040.16 Cr	3,079.43 Cr	3,339.79 Cr	3,366.83 Cr
Pretax Income	-	7,674.70 Cr	20,791.51 Cr	16,359.51 Cr	15,499.51 Cr
Tax Provision	-	-3,051.94 Cr	-37.28 Cr	3,609.90 Cr	2,528.43 Cr
Net Income	-	10,726.64 Cr	20,828.79 Cr	12,938.77 Cr	12,834.30 Cr
Diluted EPS	-	4.91	10.32	6.46	6.62

Compounded Sales Growth

5 Years:	12.57%
1 Year:	-0.10%

Compounded Profit Growth

5 Years:	6.16%
1 Year:	88.80%

Stock Price Performance

1 Year:	+120.46%
6 Months:	+65.74%
3 Months:	+68.64%
1 Month:	+9.70%

Balance Sheet (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Total Assets	-	85,821.27 Cr	92,324.77 Cr	1.13 L Cr	1.42 L Cr
Current Assets	-	19,553.00 Cr	25,586.58 Cr	26,329.23 Cr	28,688.08 Cr
Cash & Equivalents	-	349.23 Cr	1,136.25 Cr	319.86 Cr	927.88 Cr
Inventory	-	3,075.20 Cr	4,142.10 Cr	3,317.28 Cr	3,623.48 Cr
Receivables	-	11,529.36 Cr	11,677.48 Cr	13,022.07 Cr	11,791.37 Cr
Total Liabilities	-	55,945.61 Cr	49,179.74 Cr	55,244.01 Cr	75,878.00 Cr
Current Liabilities	-	17,744.59 Cr	15,788.67 Cr	16,440.99 Cr	20,328.21 Cr
Long Term Debt	-	33,533.65 Cr	26,410.52 Cr	27,508.38 Cr	42,829.60 Cr
Total Debt	-	42,180.58 Cr	34,431.07 Cr	39,356.29 Cr	54,670.29 Cr
Total Equity	-	29,875.66 Cr	43,145.03 Cr	56,347.09 Cr	64,936.88 Cr
Shares Outstanding	-	1,928.47 Cr	1,928.47 Cr	1,928.47 Cr	1,928.47 Cr

Cash Flows (Annual)

Figures in INR.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow	-	8,430.53 Cr	14,170.15 Cr	21,501.11 Cr	20,513.65 Cr
Investing Cash Flow	-	1,544.43 Cr	3,482.32 Cr	-17,142.05 Cr	-26,460.56 Cr
Financing Cash Flow	-	-10,408.46 Cr	-16,864.03 Cr	-5,175.45 Cr	6,554.93 Cr
Capital Expenditure	-	-3,243.68 Cr	-2,602.45 Cr	-11,559.04 Cr	-23,350.09 Cr
Free Cash Flow	-	5,186.85 Cr	11,567.70 Cr	9,942.07 Cr	-2,836.44 Cr
Net Change in Cash	-	-433.50 Cr	788.44 Cr	-816.39 Cr	608.02 Cr

Ratios (Annual)

Figures in %.

Metric	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Gross Margin %	-	28.5%	39.5%	44.7%	44.8%
Operating Margin %	-	17.4%	29.5%	30.2%	28.1%
Net Margin %	-	28.2%	41.6%	23.0%	23.7%
ROE %	-	35.9%	48.3%	23.0%	19.8%
ROCE %	-	9.7%	19.3%	17.6%	12.5%

Shareholding Pattern

Insiders

71.80%

Institutions

18.50%

Public Float

65.63%

Analyst View

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ADANIPOWER · Utilities