Adani Power Ltd
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]
- Market Cap ₹ 1,67,044 Cr.
- Current Price ₹ 433
- High / Low ₹ 471 / 132
- Stock P/E 8.41
- Book Value ₹ 99.3
- Dividend Yield 0.00 %
- ROCE 17.9 %
- ROE 44.1 %
- Face Value ₹ 10.0
Pros
- Company has reduced debt.
- Company has delivered good profit growth of 54.4% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 25.8%
Cons
- Stock is trading at 4.36 times its book value
- Though the company is reporting repeated profits, it is not paying out dividend
- Promoter holding has decreased over last quarter: -4.95%
- Tax rate seems low
- Earnings include an other income of Rs.10,351 Cr.
- Debtor days have increased from 82.0 to 113 days.
* 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
Sector: Power Generation & Distribution Industry: Power Generation And Supply
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | TTM | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
3,894 | 6,246 | 10,725 | 10,487 | 12,730 | 10,868 | 8,121 | 2,404 | 1,005 | 447 | 27,711 | 36,681 | 35,990 | |
2,801 | 5,494 | 7,147 | 8,025 | 9,189 | 9,604 | 7,233 | 2,417 | 1,044 | 408 | 17,807 | 27,321 | 25,598 | |
Operating Profit | 1,093 | 752 | 3,578 | 2,462 | 3,540 | 1,264 | 888 | -13 | -38 | 39 | 9,904 | 9,360 | 10,391 |
OPM % | 28% | 12% | 33% | 23% | 28% | 12% | 11% | -1% | -4% | 9% | 36% | 26% | 29% |
243 | 412 | 483 | 848 | 509 | -3,180 | 1,957 | 1,065 | -92 | 134 | 4,001 | 4,479 | 10,351 | |
Interest | 788 | 1,645 | 3,339 | 2,498 | 2,951 | 3,102 | 2,008 | 1,239 | 1,175 | 644 | 4,087 | 3,307 | 3,043 |
Depreciation | 551 | 1,012 | 1,188 | 881 | 1,137 | 1,121 | 861 | 38 | 35 | 32 | 3,116 | 3,143 | 3,158 |
Profit before tax | -4 | -1,494 | -465 | -69 | -39 | -6,138 | -24 | -225 | -1,341 | -503 | 6,702 | 7,389 | 14,541 |
Tax % | -8,019% | -31% | 228% | 0% | 345% | 1% | 0% | 0% | 0% | 1% | 25% | -39% | |
-294 | -1,952 | 595 | -69 | 97 | -6,054 | -24 | -225 | -1,341 | -499 | 5,036 | 10,246 | 19,854 | |
EPS in Rs | -1.35 | -8.16 | 2.07 | -0.24 | 0.29 | -15.70 | -0.06 | -0.58 | -3.48 | -1.29 | 13.06 | 26.57 | 51.49 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
---|---|
10 Years: | 19% |
5 Years: | 35% |
3 Years: | 232% |
TTM: | 19% |
Compounded Profit Growth | |
---|---|
10 Years: | 23% |
5 Years: | 54% |
3 Years: | 219% |
TTM: | 102% |
Stock Price CAGR | |
---|---|
10 Years: | 28% |
5 Years: | 51% |
3 Years: | 124% |
1 Year: | 30% |
Return on Equity | |
---|---|
10 Years: | 9% |
5 Years: | 16% |
3 Years: | 26% |
Last Year: | 44% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Sep 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 2,180 | 2,393 | 2,872 | 2,872 | 3,334 | 3,857 | 3,857 | 3,857 | 3,857 | 3,857 | 3,857 | 3,857 | 3,857 |
Reserves | 3,850 | 2,256 | 4,915 | 4,844 | 5,690 | 816 | 5,682 | 13,271 | 11,933 | 13,228 | 14,607 | 24,367 | 34,436 |
Preference Capital | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 154 | 169 | |
26,943 | 28,092 | 25,282 | 23,909 | 27,012 | 27,274 | 9,577 | 11,491 | 5,757 | 6,284 | 40,342 | 32,734 | 22,906 | |
3,136 | 5,233 | 5,710 | 6,101 | 9,506 | 9,810 | 586 | 309 | 983 | 1,039 | 12,960 | 11,874 | 11,124 | |
Total Liabilities | 36,108 | 37,975 | 38,779 | 37,726 | 45,543 | 41,757 | 19,702 | 28,928 | 22,530 | 24,408 | 71,766 | 72,832 | 72,323 |
14,695 | 24,151 | 24,467 | 20,111 | 23,797 | 22,718 | 642 | 603 | 570 | 541 | 49,342 | 46,583 | 45,159 | |
CWIP | 9,488 | 613 | 146 | 48 | 39 | 68 | 0 | 0 | 0 | 1 | 184 | 188 | 374 |
Investments | 2,325 | 4,928 | 4,916 | 5,627 | 7,662 | 7,740 | 7,768 | 17,157 | 18,216 | 19,359 | 4,834 | 6,373 | 6,955 |
9,600 | 8,282 | 9,250 | 11,940 | 14,045 | 11,231 | 11,292 | 11,168 | 3,744 | 4,508 | 17,406 | 19,687 | 19,834 | |
Total Assets | 36,108 | 37,975 | 38,779 | 37,726 | 45,543 | 41,757 | 19,702 | 28,928 | 22,530 | 24,408 | 71,766 | 72,832 | 72,323 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
541 | 1,820 | 3,386 | 2,393 | 1,869 | 659 | -333 | -167 | 95 | -288 | 10,264 | 7,933 | |
-9,047 | 177 | -31 | -2,575 | -3,236 | -555 | -3,565 | -8,285 | 6,816 | 390 | 1,386 | 2,824 | |
8,382 | -2,245 | -3,353 | 180 | 1,330 | -95 | 3,845 | 8,457 | -6,907 | -105 | -11,182 | -11,138 | |
Net Cash Flow | -125 | -247 | 2 | -2 | -37 | 10 | -52 | 4 | 3 | -3 | 468 | -381 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2012 | Mar 2013 | Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 42 | 39 | 9 | 50 | 150 | 59 | 2 | 2 | 133 | 8 | 125 | 113 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 42 | 39 | 9 | 50 | 150 | 59 | 2 | 2 | 133 | 8 | 125 | 113 |
Working Capital Days | -207 | -275 | -148 | -139 | -45 | -170 | 116 | -147 | -165 | 3 | 101 | 84 |
ROCE % | 3% | 1% | 9% | 7% | 9% | 3% | 2% | 4% | 3% | 1% | 26% | 18% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Press Release / Media Release
19h - Adani Power Limited has submitted a Press Release / Media Release titled ''Adani Power to co-fire Green Ammonia at its Mundra Plant for a sustainable …
- Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011 17 Nov
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Announcement under Regulation 30 (LODR)-Earnings Call Transcript
9 Nov - Adani Power Limited has submitted Transcript of Investors / Analysts Conference Call on Q2FY24 Financial Results
- Announcement Under Regulation 30 (LODR)- Audio Recording Of Post Results Update Call 4 Nov
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Announcement under Regulation 30 (LODR)-Newspaper Publication
3 Nov - Adani Power Limited has submitted extract of the Consolidated Unaudited Financial Results of the Company for the quarter and half year ended 30th September 2023 …
Annual reports
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Financial Year 2023
from bse
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Financial Year 2022
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Financial Year 2021
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Financial Year 2020
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Financial Year 2019
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Financial Year 2018
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Financial Year 2017
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Financial Year 2016
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Financial Year 2015
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Financial Year 2014
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Financial Year 2013
from nse
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Financial Year 2013
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Financial Year 2012
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Financial Year 2012
from nse
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Financial Year 2011
from bse
Concalls
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Nov 2023Transcript PPT
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Aug 2023TranscriptNotesPPT
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May 2023TranscriptNotesPPTREC
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Sep 2019TranscriptPPT
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Jun 2019TranscriptPPT
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Apr 2018TranscriptPPT
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May 2017TranscriptPPT
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Jan 2017TranscriptPPT
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Oct 2016TranscriptPPT
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May 2016TranscriptPPT
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Feb 2016TranscriptPPT
Revenue Mix FY22
Power Supply: 98%
Trading goods and others: 2% [1]
Power Capacity
The company has an installed thermal power capacity of 13,650 MW spread across six power plants in Gujarat (4620 MW), Maharashtra (3300 MW), Karnataka (1200 MW), Rajasthan (1320 MW), Madhya Pradesh (1200 MW), and Chhattisgarh (1970 MW). It also has a 40 MW solar power plant in Gujarat. [2]