Adani Power Ltd

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

Adani Power Ltd

₹ 592 -0.70%
25 Apr - 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 Overview
Adani Power is a part of Adani Group. It is India’s largest private thermal power producer with a current capacity of 15210 MW at its 8 power plants. [1]

Market Position
In terms of output, the Company accounted for 6% of India’s total power generation from thermal power plants and 16% of all the power generated by private sector thermal power plants as of FY23. [2]

Website BSE NSE
  • Market Cap ₹ 2,28,466 Cr.
  • Current Price ₹ 592
  • High / Low ₹ 647 / 214
  • Stock P/E 10.5
  • Book Value ₹ 99.3
  • Dividend Yield 0.00 %
  • ROCE 17.9 %
  • ROE 44.1 %
  • Face Value ₹ 10.0
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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 5.97 times its book value
  • Though the company is reporting repeated profits, it is not paying out dividend
  • Tax rate seems low
  • Earnings include an other income of Rs.10,222 Cr.
  • Debtor days have increased from 82.0 to 113 days.
  • Promoter holding has decreased over last 3 years: -3.22%

* 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

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Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Mar 2023 Jun 2023 Sep 2023 Dec 2023
55 346 26 18 94 10,598 12,613 6,927 7,635 9,507 8,511 10,337 10,217
44 335 12 13 81 5,351 7,537 5,902 6,028 7,896 5,985 5,690 6,749
Operating Profit 11 12 14 4 12 5,247 5,076 1,025 1,608 1,611 2,526 4,647 3,467
OPM % 20% 3% 54% 25% 13% 50% 40% 15% 21% 17% 30% 45% 34%
99 -185 109 114 126 2,750 1,844 1,494 560 622 7,136 2,033 431
Interest 160 170 161 168 178 988 828 794 928 757 741 616 536
Depreciation 8 8 8 8 8 774 782 791 795 775 787 801 797
Profit before tax -59 -351 -46 -57 -47 6,236 5,310 934 444 701 8,133 5,262 2,564
Tax % 0% 0% 0% 0% 0% 24% 20% 1% 45% -592% 0% -26% 16%
-59 -351 -46 -57 -47 4,748 4,222 928 245 4,851 8,133 6,625 2,160
EPS in Rs -0.15 -0.91 -0.12 -0.15 -0.12 12.31 10.95 2.41 0.64 12.58 21.09 17.18 5.60
Raw PDF
Upcoming result date: 1 May 2024

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 38,571
2,801 5,494 7,147 8,025 9,189 9,604 7,233 2,417 1,044 408 17,807 27,321 26,320
Operating Profit 1,093 752 3,578 2,462 3,540 1,264 888 -13 -38 39 9,904 9,360 12,251
OPM % 28% 12% 33% 23% 28% 12% 11% -1% -4% 9% 36% 26% 32%
243 412 483 848 509 -3,180 1,957 1,065 -92 134 4,001 4,479 10,222
Interest 788 1,645 3,339 2,498 2,951 3,102 2,008 1,239 1,175 644 4,087 3,307 2,651
Depreciation 551 1,012 1,188 881 1,137 1,121 861 38 35 32 3,116 3,143 3,161
Profit before tax -4 -1,494 -465 -69 -39 -6,138 -24 -225 -1,341 -503 6,702 7,389 16,661
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 21,769
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 56.45
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: 2%
Compounded Profit Growth
10 Years: 23%
5 Years: 54%
3 Years: 219%
TTM: 115%
Stock Price CAGR
10 Years: 28%
5 Years: 65%
3 Years: 87%
1 Year: 177%
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%

Shareholding Pattern

Numbers in percentages

3 Recently
Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024
74.97% 74.97% 74.97% 74.97% 74.97% 74.97% 74.97% 74.97% 74.97% 70.02% 71.75% 71.75%
11.54% 11.17% 11.03% 11.31% 12.56% 13.23% 12.88% 11.70% 11.95% 17.51% 15.86% 15.91%
5.53% 5.53% 5.53% 5.56% 5.00% 0.00% 0.00% 0.01% 0.04% 0.76% 1.18% 1.41%
7.96% 8.33% 8.46% 8.15% 7.47% 11.80% 12.15% 13.32% 13.04% 11.72% 11.20% 10.93%
No. of Shareholders 9,81,56110,05,56511,42,69711,74,86315,02,71314,76,87214,88,29517,90,67516,70,03615,03,34714,60,76714,26,249

* 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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