Reliance Power Ltd

₹ 12.8 2.00%
31 Jan - close price
About

Reliance Power has been established to develop, construct and operate power projects both in India as well as internationally. The Company on its own and through its subsidiaries has a large portfolio of power generation capacity, both in operation as well as capacity under development. [1]

Key Points

Capacity
The company’s generation capacity stands at 5,945 MW, including 5,760 MW of thermal capacity and 185 MW of renewable energy-based capacity. [1]

  • Market Cap 4,762 Cr.
  • Current Price 12.8
  • High / Low 25.0 / 11.0
  • Stock P/E
  • Book Value 31.2
  • Dividend Yield 0.00 %
  • ROCE 5.01 %
  • ROE -4.55 %
  • Face Value 10.0

Pros

  • Stock is trading at 0.41 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -6.31% over past five years.
  • Promoter holding is low: 25.0%
  • Company has a low return on equity of -1.60% over last 3 years.
  • Company has high debtors of 156 days.
  • Promoter holding has decreased over last 3 years: -13.5%

* 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.

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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022
1,669 1,798 1,933 2,449 1,897 1,655 2,014 1,847 1,796 1,846 2,063 1,864 1,886
900 1,383 1,114 1,429 1,010 803 1,099 1,051 967 1,664 1,249 1,296 1,223
Operating Profit 769 415 819 1,020 888 852 914 796 829 182 814 568 663
OPM % 46% 23% 42% 42% 47% 51% 45% 43% 46% 10% 39% 30% 35%
230 -3,900 204 177 109 41 49 48 63 32 44 73 49
Interest 741 759 668 654 646 620 597 652 663 603 638 665 650
Depreciation 211 209 273 271 270 270 274 276 270 257 258 255 253
Profit before tax 46 -4,454 82 273 81 2 91 -84 -41 -647 -39 -280 -192
Tax % -7% 1% 51% 38% -9% -6,392% 33% 6% -35% -1% -162% -12% -28%
Net Profit 49 -4,401 40 170 89 154 61 -79 -55 -651 -102 -313 -245
EPS in Rs 0.18 -15.00 -0.01 0.38 0.19 0.26 0.04 -0.39 -0.29 -1.63 -0.47 -1.00 -0.80
Raw PDF

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 TTM
1,055 2,019 4,927 5,175 6,903 10,299 10,396 9,593 8,201 7,562 7,934 7,503 7,659
1,332 1,593 3,214 3,258 4,317 5,884 5,889 5,199 4,268 4,552 4,359 4,782 5,433
Operating Profit -277 426 1,713 1,917 2,587 4,414 4,506 4,393 3,934 3,010 3,575 2,721 2,226
OPM % -26% 21% 35% 37% 37% 43% 43% 46% 48% 40% 45% 36% 29%
1,369 945 357 370 298 323 496 276 -2,823 -3,368 486 192 197
Interest 220 298 585 684 1,074 2,683 2,843 2,926 3,206 3,054 2,539 2,349 2,556
Depreciation 101 121 285 364 524 701 734 759 838 836 1,083 1,077 1,025
Profit before tax 772 952 1,200 1,239 1,286 1,353 1,425 984 -2,934 -4,248 439 -513 -1,157
Tax % 1% 9% 16% 17% 20% 34% 23% 15% -1% -1% -3% -9%
Net Profit 760 867 1,011 1,027 1,028 895 1,104 840 -2,952 -4,271 454 -557 -1,311
EPS in Rs 2.71 3.09 3.61 3.67 3.67 3.19 3.94 3.00 -10.52 -14.53 0.82 -1.78 -3.90
Dividend Payout % 0% 0% 0% 0% 0% 31% 0% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years: 14%
5 Years: -6%
3 Years: -3%
TTM: 5%
Compounded Profit Growth
10 Years: %
5 Years: %
3 Years: %
TTM: -1843%
Stock Price CAGR
10 Years: -18%
5 Years: -21%
3 Years: 96%
1 Year: -18%
Return on Equity
10 Years: 3%
5 Years: 0%
3 Years: -2%
Last Year: -5%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022 Sep 2022
2,805 2,805 2,805 2,797 2,805 2,805 2,805 2,805 2,805 2,805 2,805 3,400 3,400
Reserves 14,028 14,764 15,776 16,672 17,827 17,422 18,604 18,438 14,581 9,072 9,441 8,880 7,677
7,334 15,065 27,482 30,043 33,219 33,790 32,925 31,697 30,456 28,761 25,635 23,114 22,750
1,724 6,624 5,871 6,115 8,175 9,997 9,831 9,234 10,236 12,704 12,901 14,418 15,964
Total Liabilities 25,891 39,259 51,934 55,626 62,026 64,014 64,165 62,174 58,078 53,343 50,782 49,812 49,790
3,637 6,572 8,976 13,839 33,634 34,515 34,851 34,881 35,903 38,574 37,190 36,308 36,194
CWIP 5,498 21,797 30,310 32,255 15,531 7,386 7,403 6,913 4,276 3,615 1,912 2,020 2,289
Investments 5,679 1,415 40 141 861 873 799 280 224 30 36 37 37
11,078 9,474 12,607 9,391 12,001 21,240 21,112 20,100 17,675 11,124 11,644 11,447 11,269
Total Assets 25,891 39,259 51,934 55,626 62,026 64,014 64,165 62,174 58,078 53,343 50,782 49,812 49,790

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
-36 162 705 2,310 1,399 4,574 4,705 4,365 4,223 4,543 4,149 3,613
-1,846 -6,462 -8,967 -2,311 -3,630 -1,348 -2,142 354 60 -247 486 256
3,358 6,062 10,076 -586 695 -3,194 -3,389 -4,311 -4,839 -4,200 -4,615 -3,849
Net Cash Flow 1,476 -238 1,814 -587 -1,535 32 -826 408 -556 96 19 21

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021 Mar 2022
Debtor Days 120 118 99 80 154 125 105 94 122 114 111 156
Inventory Days
Days Payable
Cash Conversion Cycle 120 118 99 80 154 125 105 94 122 114 111 156
Working Capital Days -419 -51 21 -142 -74 -59 -30 -63 -169 -343 -80 -155
ROCE % 2% 4% 4% 4% 5% 7% 8% 7% 7% 6% 8% 5%

Shareholding Pattern

Numbers in percentages

1 recently
Jun 2020 Sep 2020 Dec 2020 Mar 2021 Jun 2021 Sep 2021 Dec 2021 Mar 2022 Jun 2022 Sep 2022 Dec 2022 Jan 2023
19.29 15.90 9.06 9.06 9.06 24.98 24.98 24.98 24.98 24.98 25.00 25.00
2.91 1.53 1.62 2.15 1.78 3.30 4.92 5.95 7.79 7.97 7.83 7.55
7.01 6.65 5.94 4.25 4.25 3.50 3.50 3.50 3.50 3.50 3.27 3.18
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
70.78 75.90 83.37 84.52 84.90 68.21 66.60 65.57 63.73 63.56 63.88 64.25

* 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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