Reliance Power Ltd

About [ edit ]

Reliance Power (the Company) together with its subsidiaries (the Reliance Power Group) is primarily engaged in the business of generation of power. The projects under development include coal, gas, hydro, wind and solar based energy projects. The portfolio of the Reliance Power Group also includes Ultra Mega Power Projects (UMPPs).

  • Market Cap 4,432 Cr.
  • Current Price 15.8
  • High / Low 18.4 / 2.40
  • Stock P/E 19.6
  • Book Value 43.7
  • Dividend Yield 0.00 %
  • ROCE 8.08 %
  • ROE 1.88 %
  • Face Value 10.0

Pros

  • Company has reduced debt.
  • Stock is trading at 0.36 times its book value

Cons

  • Company has low interest coverage ratio.
  • The company has delivered a poor sales growth of -5.08% over past five years.
  • Promoter holding is low: 9.06%
  • Company has a low return on equity of 0.16% for last 3 years.
  • Promoter holding has decreased over last 3 years: -65.94%
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Quarterly Results

Consolidated Figures in Rs. Crores / View Standalone

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
2,221 2,149 2,048 1,586 2,076 2,020 1,669 1,798 1,933 2,449 1,897 1,655
1,196 1,166 974 935 1,100 1,175 900 1,383 1,114 1,429 1,010 803
Operating Profit 1,026 982 1,074 650 976 845 769 415 819 1,020 888 852
OPM % 46% 46% 52% 41% 47% 42% 46% 23% 42% 42% 47% 51%
Other Income 157 148 52 -3,050 89 221 230 -3,900 204 177 109 41
Interest 748 747 740 1,096 775 778 741 759 668 654 646 620
Depreciation 201 199 234 204 206 209 211 209 273 271 270 270
Profit before tax 234 183 152 -3,700 83 78 46 -4,454 82 273 81 2
Tax % 20% 20% 23% 4% 56% 42% -7% 1% 51% 38% -9% -6,392%
Net Profit 187 147 116 -3,559 36 45 49 -4,206 -2 106 52 73
EPS in Rs 0.67 0.53 0.42 -12.69 0.13 0.16 0.18 -15.00 -0.01 0.38 0.19 0.26

Profit & Loss

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
21 1,055 2,019 4,927 5,175 6,903 10,299 10,396 9,593 8,201 7,562 7,934
126 826 1,395 3,214 3,259 4,318 5,884 5,889 5,199 4,275 4,552 4,359
Operating Profit -106 229 624 1,713 1,916 2,586 4,414 4,506 4,393 3,926 3,010 3,575
OPM % -510% 22% 31% 35% 37% 37% 43% 43% 46% 48% 40% 45%
Other Income 823 863 748 357 371 299 323 496 276 -2,816 -3,368 486
Interest 9 220 298 585 684 1,074 2,683 2,843 2,926 3,206 3,054 2,539
Depreciation 6 101 121 285 364 524 701 734 759 838 836 1,083
Profit before tax 703 772 952 1,200 1,239 1,286 1,353 1,425 984 -2,934 -4,248 439
Tax % 3% 1% 9% 16% 17% 20% 34% 23% 15% -1% -1% -3%
Net Profit 684 760 867 1,011 1,027 1,028 895 1,104 840 -2,952 -4,077 229
EPS in Rs 2.85 2.71 3.09 3.61 3.67 3.67 3.19 3.94 3.00 -10.52 -14.53 0.82
Dividend Payout % 0% 0% 0% 0% 0% 0% 31% 0% 0% 0% 0% 0%
Compounded Sales Growth
10 Years:22%
5 Years:-5%
3 Years:-6%
TTM:5%
Compounded Profit Growth
10 Years:-2%
5 Years:-24%
3 Years:-36%
TTM:178%
Stock Price CAGR
10 Years:-18%
5 Years:-20%
3 Years:-23%
1 Year:339%
Return on Equity
10 Years:4%
5 Years:2%
3 Years:0%
Last Year:2%

Balance Sheet

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
2,397 2,805 2,805 2,805 2,797 2,805 2,805 2,805 2,805 2,805 2,805 2,805
Reserves 12,066 14,028 14,764 15,776 16,672 17,827 17,422 18,604 18,438 14,581 9,072 9,441
Borrowings 2,241 7,334 15,065 27,482 30,043 33,219 33,790 32,925 31,697 30,456 28,804 20,625
693 1,724 6,624 5,871 6,115 8,175 9,997 9,831 9,234 10,236 12,662 17,911
Total Liabilities 17,397 25,891 39,259 51,934 55,626 62,026 64,014 64,165 62,174 58,078 53,343 50,782
2,341 3,637 6,572 8,976 13,839 33,634 34,515 34,851 34,881 35,903 38,574 37,190
CWIP 6,803 5,498 21,797 30,310 32,255 15,531 7,386 7,403 6,913 4,276 3,615 1,912
Investments 7,915 5,679 1,415 40 141 861 873 799 280 224 30 36
338 11,078 9,474 12,607 9,391 12,001 21,240 21,112 20,100 17,675 11,124 11,644
Total Assets 17,397 25,891 39,259 51,934 55,626 62,026 64,014 64,165 62,174 58,078 53,343 50,782

Cash Flows

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
-209 -36 162 705 2,310 1,399 4,574 4,705 4,365 4,223 4,543 4,149
-260 -1,846 -6,462 -8,967 -2,311 -3,630 -1,348 -2,142 354 60 -247 486
582 3,358 6,062 10,076 -586 695 -3,194 -3,389 -4,311 -4,839 -4,200 -4,615
Net Cash Flow 112 1,476 -238 1,814 -587 -1,535 32 -826 408 -556 96 19

Ratios

Consolidated Figures in Rs. Crores / View Standalone

Mar 2010 Mar 2011 Mar 2012 Mar 2013 Mar 2014 Mar 2015 Mar 2016 Mar 2017 Mar 2018 Mar 2019 Mar 2020 Mar 2021
ROCE % 1% 2% 4% 4% 4% 5% 7% 8% 7% 7% 6% 8%
Debtor Days 508 120 118 99 80 154 125 105 94 122 114 111
Inventory Turnover 0.91 10.94 10.53 8.47 5.18 4.77 4.60 4.64 4.91 3.66 3.20 3.30

Shareholding Pattern

Numbers in percentages

Jun 2018 Sep 2018 Dec 2018 Mar 2019 Jun 2019 Sep 2019 Dec 2019 Mar 2020 Jun 2020 Sep 2020 Dec 2020 Mar 2021
75.00 75.00 75.00 56.29 45.16 43.20 38.50 19.29 19.29 15.90 9.06 9.06
4.20 4.08 4.54 7.25 5.96 6.23 5.83 5.22 2.91 1.53 1.62 2.15
6.66 6.63 6.11 6.67 5.44 5.11 7.03 7.01 7.01 6.65 5.94 4.25
0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01 0.01
14.12 14.28 14.34 29.78 43.42 45.44 48.63 68.47 70.78 75.90 83.37 84.52

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