RattanIndia Power Ltd

₹ 6.54 0.46%

16 Oct - close price

rattanindiapower.com BSE: 533122 NSE: RTNPOWER

About

RattanIndia Power Limited is one of India’s largest private power generation company, with installed capacity of 2,700 MW thermal power plants at Amravati and Nashik (1,350 MW at each location) in Maharashtra, India. ^[1]

Key Points

Company History
The Company was incorporated in the year 2007 as Sophia Power Company Limited, originally as a part of the Indiabulls group. The company changed its name to Indiabulls Power Limited after its listing on NSE as well as BSE in 2009. In 2014, after the group split, the company, along with Indiabulls Infrastructure and Power Limited, was carved out of the group and renamed as RattanIndia Power Limited. ^[1]

Website BSE NSE

Market Cap ₹ 3,512 Cr.
Current Price ₹ 6.54
High / Low ₹ 11.7 / 6.33
Stock P/E 33.3
Book Value ₹ 9.02
Dividend Yield 0.00 %
ROCE 5.99 %
ROE 0.97 %
Face Value ₹ 10.0

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Pros

Stock is trading at 0.73 times its book value

Cons

Company has low interest coverage ratio.
Tax rate seems low
Company has a low return on equity of 3.29% over last 3 years.
Promoters have pledged 43.1% of their holding.
Earnings include an other income of Rs.360 Cr.
Company has high debtors of 336 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

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Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	847	796	806	914	932	682	733	936	822	654	728	788	799
	693	688	634	718	752	598	652	733	734	611	610	667	683
Operating Profit	155	109	172	196	179	85	81	203	88	42	118	121	116
OPM %	18%	14%	21%	21%	19%	12%	11%	22%	11%	6%	16%	15%	14%
	95	95	90	-1,155	94	98	100	101	108	99	108	76	77
Interest	136	165	141	125	121	124	116	118	148	112	110	91	86
Depreciation	57	59	60	61	61	62	63	61	62	62	63	65	63
Profit before tax	56	-20	61	-1,145	92	-3	3	124	-15	-33	53	41	44
Tax %	25%	5%	24%	-4%	0%	0%	0%	0%	0%	0%	0%	0%	0%
	42	-22	46	-1,094	92	-3	3	124	-15	-33	53	41	44
EPS in Rs	0.08	-0.04	0.09	-2.04	0.17	-0.01	0.01	0.23	-0.03	-0.06	0.10	0.08	0.08
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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	TTM
	617	2,541	1,334	2,015	1,909	1,774	1,560	3,260	3,231	3,364	3,284	2,991	2,968
	506	1,569	600	1,415	1,236	1,181	1,188	2,452	2,472	2,732	2,736	2,622	2,571
Operating Profit	112	972	735	600	673	593	372	808	759	632	548	369	397
OPM %	18%	38%	55%	30%	35%	33%	24%	25%	23%	19%	17%	12%	13%
	34	99	169	224	-2,157	2,887	617	353	350	-875	393	391	360
Interest	362	984	1,017	997	1,075	1,354	664	586	534	568	479	461	399
Depreciation	123	195	208	239	233	228	228	227	222	237	247	252	253
Profit before tax	-340	-108	-321	-411	-2,792	1,899	97	348	353	-1,048	216	47	106
Tax %	0%	0%	0%	2%	0%	0%	0%	0%	6%	-2%	0%	0%
	-340	-108	-321	-418	-2,792	1,899	97	348	333	-1,028	216	47	106
EPS in Rs	-1.15	-0.37	-1.09	-1.42	-9.45	3.84	0.18	0.65	0.62	-1.91	0.40	0.09	0.20
Dividend Payout %	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%	0%

Compounded Sales Growth
10 Years:	2%
5 Years:	14%
3 Years:	-3%
TTM:	-6%

Compounded Profit Growth
10 Years:	9%
5 Years:	-14%
3 Years:	-48%
TTM:	-4%

Stock Price CAGR
10 Years:	-3%
5 Years:	10%
3 Years:	-4%
1 Year:	-41%

Return on Equity
10 Years:	-2%
5 Years:	5%
3 Years:	3%
Last Year:	1%

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	2,953	2,953	2,953	2,953	2,953	4,940	5,370	5,370	5,370	5,370	5,370	5,370
Reserves	2,362	2,325	2,005	1,654	-1,135	-189	-441	-93	238	-790	-575	-528
	6,819	7,778	8,030	7,761	6,979	5,491	4,958	4,414	3,881	3,562	3,615	3,711
	641	1,094	1,188	2,080	3,118	1,584	1,423	1,529	1,639	1,640	1,596	1,264
Total Liabilities	12,774	14,150	14,176	14,449	11,916	11,825	11,310	11,220	11,128	9,782	10,006	9,817
	6,785	7,372	7,415	7,424	7,193	6,968	6,741	6,533	6,384	6,381	6,216	6,057
CWIP	1,518	906	737	650	646	99	99	109	77	67	65	21
Investments	2,758	3,141	3,372	3,529	1,760	1,831	1,227	1,263	1,241	0	0	0
	1,714	2,730	2,651	2,845	2,316	2,927	3,242	3,315	3,425	3,333	3,724	3,739
Total Assets	12,774	14,150	14,176	14,449	11,916	11,825	11,310	11,220	11,128	9,782	10,006	9,817

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
	89	271	1,220	320	854	616	700	940	1,024	1,333	410	372
	-671	-553	-470	244	-148	-101	144	59	-16	-465	87	66
	610	104	-701	-502	-812	-472	-795	-963	-978	-926	-440	-605
Net Cash Flow	28	-178	50	62	-107	42	49	36	30	-58	57	-168
Free Cash Flow	-417	-39	1,216	368	854	615	688	930	994	1,234	293	294
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit	80%	28%	166%	53%	127%	104%	186%	117%	135%	212%	75%	98%

Ratios

Standalone / 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	122	123	216	241	236	316	457	281	282	224	271	336
Inventory Days
Days Payable
Cash Conversion Cycle	122	123	216	241	236	316	457	281	282	224	271	336
Working Capital Days	-750	-174	-532	-471	-590	252	411	107	94	124	198	212
ROCE %	0%	7%	5%	4%	6%	6%	8%	10%	9%	9%	8%	6%

Insights

In beta

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Plant Availability Factor (PAF)
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Plant Load Factor (PLF)
%

Power Generation (Net Saleable Energy)
MU (Million Units)

FSA Coal Linkage with SECL
MTPA

Coal Rakes Received
Number of rakes

Merchant Power Sales (IEX)
MU (Million Units)

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Shareholding Pattern

Numbers in percentages

	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026	Sep 2026
	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%
	0.76%	2.04%	3.69%	4.39%	5.01%	5.25%	4.95%	5.12%	5.23%	5.13%	5.25%	3.82%
	6.89%	6.61%	6.57%	6.57%	6.53%	6.65%	6.67%	6.65%	6.65%	6.62%	6.58%	6.58%
	48.28%	47.29%	45.67%	44.96%	44.40%	44.03%	44.31%	44.16%	44.06%	44.20%	44.10%	45.54%
No. of Shareholders	10,75,987	13,22,745	20,63,337	19,80,552	19,61,972	19,73,224	20,77,828	20,51,565	19,86,077	19,43,756	19,11,791	19,02,205

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Sep 2026
	57.49%	54.10%	53.08%	39.33%	44.19%	44.06%	44.06%	44.06%	44.06%	44.06%	44.06%
	16.12%	16.27%	16.78%	9.34%	0.16%	0.21%	0.30%	2.04%	5.25%	5.13%	3.82%
	0.58%	0.69%	1.04%	16.48%	15.15%	13.42%	7.20%	6.61%	6.65%	6.62%	6.58%
	25.82%	28.94%	29.09%	34.84%	40.50%	42.31%	48.44%	47.29%	44.03%	44.20%	45.54%
No. of Shareholders	1,37,099	1,59,808	1,55,102	1,52,776	2,34,783	6,47,569	6,91,513	13,22,745	19,73,224	19,43,756	19,02,205

* 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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RattanIndia Power Ltd

RattanIndia Power Ltd

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flows

Ratios

Insights

Shareholding Pattern

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Announcements

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