Adani Power Ltd

Adani Power Summary Chart Analysis Peers Quarters Profit & Loss Balance Sheet Cash Flow Ratios Investors Documents

Adani Power Ltd

₹ 219 -0.41%
21 May - close price
adani.com BSE: 533096 NSE: ADANIPOWER
About

Adani Power (APL), a part of the diversified Adani Group, is the largest private thermal power producer in India. The co along with its subsidiaries sell power generated from these projects under a combination of long term Power Purchase Agreements, Short term PPA and on merchant basis. [1][2]

Key Points

Business Profile:[1]
The company operates under the broader Adani Group’s Energy & Utility portfolio, which includes power generation, transmission, distribution, renewable energy, and international power exports.

Market Position:[2] [3]
The company is the largest private thermal power producer in India, accounting for 7.3% of India’s domestic coal-based power generation capacity.

Website BSE NSE
  • Market Cap ₹ 4,23,048 Cr.
  • Current Price ₹ 219
  • High / Low ₹ 234 / 105
  • Stock P/E 38.5
  • Book Value ₹ 27.5
  • Dividend Yield 0.00 %
  • ROCE 19.2 %
  • ROE 22.1 %
  • Face Value ₹ 2.00
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Pros

  • Company has a good return on equity (ROE) track record: 3 Years ROE 33.3%

Cons

  • Stock is trading at 7.98 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.

Peer comparison

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Mar 2023 Jun 2023 Sep 2023 Dec 2023 Mar 2024 Jun 2024 Sep 2024 Dec 2024 Mar 2025 Jun 2025 Sep 2025 Dec 2025 Mar 2026
9,507 8,511 10,337 10,217 12,238 11,394 11,901 12,042 12,201 12,462 11,243 10,011 11,573
7,896 5,985 5,690 6,749 7,784 7,439 7,053 7,169 7,868 7,238 6,724 6,429 7,715
Operating Profit 1,611 2,526 4,647 3,467 4,454 3,955 4,848 4,873 4,333 5,224 4,519 3,582 3,858
OPM % 17% 30% 45% 34% 36% 35% 41% 40% 36% 42% 40% 36% 33%
622 7,136 2,033 431 622 584 741 1,206 389 566 1,076 586 2,042
Interest 757 741 616 536 918 553 802 904 683 830 857 719 969
Depreciation 775 787 801 797 952 795 974 990 958 940 950 951 932
Profit before tax 701 8,133 5,262 2,564 3,206 3,191 3,813 4,185 3,082 4,020 3,789 2,498 3,999
Tax % -592% 0% -26% 16% 25% 23% 23% 27% 23% 22% 28% 18% 23%
4,851 8,133 6,625 2,160 2,399 2,455 2,955 3,035 2,359 3,119 2,735 2,047 3,087
EPS in Rs 2.52 4.22 3.44 1.12 1.24 1.27 1.53 1.57 1.22 1.62 1.42 1.06 1.60
Raw PDF

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
10,487 12,730 10,868 8,121 2,404 1,005 447 27,711 36,681 46,456 49,711 45,289
8,025 9,189 9,604 7,233 2,417 1,044 408 17,807 27,321 29,747 30,089 28,106
Operating Profit 2,462 3,540 1,264 888 -13 -38 39 9,904 9,360 16,709 19,622 17,183
OPM % 23% 28% 12% 11% -1% -4% 9% 36% 26% 36% 39% 38%
848 509 -3,180 1,957 1,065 -92 134 4,001 4,479 10,048 2,747 4,272
Interest 2,498 2,951 3,102 2,008 1,239 1,175 644 4,087 3,307 3,404 3,207 3,375
Depreciation 881 1,137 1,121 861 38 35 32 3,116 3,143 3,772 3,879 3,773
Profit before tax -69 -39 -6,138 -24 -225 -1,341 -503 6,702 7,389 19,581 15,284 14,306
Tax % 0% -345% -1% 0% 0% 0% -1% 25% -39% -0% 24% 23%
-69 97 -6,054 -24 -225 -1,341 -499 5,036 10,246 19,632 11,560 10,988
EPS in Rs -0.05 0.06 -3.14 -0.01 -0.12 -0.70 -0.26 2.61 5.31 10.18 5.99 5.70
Dividend Payout % 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 14%
5 Years: 152%
3 Years: 7%
TTM: -9%
Compounded Profit Growth
10 Years: 58%
5 Years: 89%
3 Years: 2%
TTM: -6%
Stock Price CAGR
10 Years: 44%
5 Years: 61%
3 Years: 64%
1 Year: 99%
Return on Equity
10 Years: 23%
5 Years: 34%
3 Years: 33%
Last Year: 22%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Equity Capital 2,872 3,334 3,857 3,857 3,857 3,857 3,857 3,857 3,857 3,857 3,857 3,857
Reserves 4,844 5,690 816 5,682 13,271 11,933 13,228 14,607 24,367 36,113 42,592 49,158
23,909 27,012 27,274 9,577 11,491 5,757 6,284 40,497 32,903 34,862 35,963 49,095
6,101 9,506 9,810 586 309 983 1,039 12,806 11,705 14,165 14,271 17,438
Total Liabilities 37,726 45,543 41,757 19,702 28,928 22,530 24,408 71,766 72,832 88,997 96,683 119,548
20,111 23,797 22,718 642 603 570 541 49,342 46,583 59,467 58,142 54,972
CWIP 48 39 68 0 0 0 1 184 188 742 2,994 15,064
Investments 5,627 7,662 7,740 7,768 17,157 18,216 19,359 4,834 6,373 1,980 4,330 4,805
11,940 14,045 11,231 11,292 11,168 3,744 4,508 17,406 19,687 26,808 31,218 44,707
Total Assets 37,726 45,543 41,757 19,702 28,928 22,530 24,408 71,766 72,832 88,997 96,683 119,548

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
2,393 1,869 659 -333 -167 95 -288 10,264 7,933 12,976 18,453 19,148
-2,575 -3,236 -555 -3,565 -8,285 6,816 390 1,386 2,824 3,145 -10,811 -23,364
180 1,330 -95 3,845 8,457 -6,907 -105 -11,182 -11,138 -15,751 -8,041 4,830
Net Cash Flow -2 -37 10 -52 4 3 -3 468 -381 370 -398 614
Free Cash Flow 1,619 781 70 -334 -167 94 -295 9,622 7,013 11,326 11,842 5,175
CFO/OP 97% 53% 51% -37% 1,289% -250% -769% 106% 86% 78% 94% 111%

Ratios

Standalone Figures in Rs. Crores / View Consolidated

Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025 Mar 2026
Debtor Days 50 150 59 2 2 133 8 125 113 90 89 83
Inventory Days
Days Payable
Cash Conversion Cycle 50 150 59 2 2 133 8 125 113 90 89 83
Working Capital Days -286 -312 -440 -211 -506 -1,105 -4,367 -30 6 18 17 33
ROCE % 7% 9% 3% 2% 4% 3% 1% 26% 18% 34% 24% 19%

Insights

In beta
Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Mar 2023 Mar 2024 Mar 2025
Average Plant Availability Factor (PAF)
%

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Installed Capacity
MW
Plant Load Factor (PLF)
%
Power Sales Volume
BU
PPA Tied-up Capacity Share
%

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Shareholding Pattern

Numbers in percentages

Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
74.97% 70.02% 71.75% 71.75% 72.71% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96% 74.96%
11.95% 17.51% 15.86% 15.91% 14.73% 12.66% 12.34% 12.36% 12.46% 11.53% 11.64% 11.73%
0.04% 0.76% 1.18% 1.41% 1.42% 1.52% 1.60% 1.64% 1.76% 2.70% 3.41% 3.69%
13.04% 11.72% 11.20% 10.93% 11.14% 10.84% 11.09% 11.03% 10.82% 10.82% 9.99% 9.63%
No. of Shareholders 16,70,03615,03,34714,60,76714,26,24917,90,38417,42,78318,85,68418,91,23418,14,14220,12,64721,47,98120,87,011

* The classifications might have changed from Sep'2022 onwards. The new XBRL format added more details from Sep'22 onwards.

Classifications such as banks and foreign portfolio investors were not available earlier. The sudden changes in FII or DII can be because of these changes.

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