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 ₹ 2,11,303 Cr.
- Current Price ₹ 548
- High / Low ₹ 811 / 431
- Stock P/E 18.2
- Book Value ₹ 120
- Dividend Yield 0.00 %
- ROCE 23.7 %
- ROE 27.0 %
- Face Value ₹ 10.0
Pros
- Company has delivered good profit growth of 105% CAGR over last 5 years
- Company has a good return on equity (ROE) track record: 3 Years ROE 41.3%
Cons
- Though the company is reporting repeated profits, it is not paying out dividend
* 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
Utilities Power Power Integrated Power Utilities
Part of BSE 500 BSE 100 BSE 200 Nifty Next 50 Nifty 500
Quarterly Results
Standalone Figures in Rs. Crores / View Consolidated
Profit & Loss
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
10,725 | 10,487 | 12,730 | 10,868 | 8,121 | 2,404 | 1,005 | 447 | 27,711 | 36,681 | 46,456 | 49,711 | |
7,147 | 8,025 | 9,189 | 9,604 | 7,233 | 2,417 | 1,044 | 408 | 17,807 | 27,321 | 29,747 | 30,089 | |
Operating Profit | 3,578 | 2,462 | 3,540 | 1,264 | 888 | -13 | -38 | 39 | 9,904 | 9,360 | 16,709 | 19,622 |
OPM % | 33% | 23% | 28% | 12% | 11% | -1% | -4% | 9% | 36% | 26% | 36% | 39% |
483 | 848 | 509 | -3,180 | 1,957 | 1,065 | -92 | 134 | 4,001 | 4,479 | 10,048 | 2,747 | |
Interest | 3,339 | 2,498 | 2,951 | 3,102 | 2,008 | 1,239 | 1,175 | 644 | 4,087 | 3,307 | 3,404 | 3,207 |
Depreciation | 1,188 | 881 | 1,137 | 1,121 | 861 | 38 | 35 | 32 | 3,116 | 3,143 | 3,772 | 3,879 |
Profit before tax | -465 | -69 | -39 | -6,138 | -24 | -225 | -1,341 | -503 | 6,702 | 7,389 | 19,581 | 15,284 |
Tax % | -228% | 0% | -345% | -1% | 0% | 0% | 0% | -1% | 25% | -39% | -0% | 24% |
595 | -69 | 97 | -6,054 | -24 | -225 | -1,341 | -499 | 5,036 | 10,246 | 19,632 | 11,560 | |
EPS in Rs | 2.07 | -0.24 | 0.29 | -15.70 | -0.06 | -0.58 | -3.48 | -1.29 | 13.06 | 26.57 | 50.90 | 29.97 |
Dividend Payout % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% |
Compounded Sales Growth | |
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10 Years: | 17% |
5 Years: | 118% |
3 Years: | 22% |
TTM: | 7% |
Compounded Profit Growth | |
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10 Years: | 46% |
5 Years: | 105% |
3 Years: | 32% |
TTM: | -41% |
Stock Price CAGR | |
---|---|
10 Years: | 34% |
5 Years: | 70% |
3 Years: | 22% |
1 Year: | -25% |
Return on Equity | |
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10 Years: | 23% |
5 Years: | 34% |
3 Years: | 41% |
Last Year: | 27% |
Balance Sheet
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Equity Capital | 2,872 | 2,872 | 3,334 | 3,857 | 3,857 | 3,857 | 3,857 | 3,857 | 3,857 | 3,857 | 3,857 | 3,857 |
Reserves | 4,915 | 4,844 | 5,690 | 816 | 5,682 | 13,271 | 11,933 | 13,228 | 14,607 | 24,367 | 36,113 | 42,592 |
25,282 | 23,909 | 27,012 | 27,274 | 9,577 | 11,491 | 5,757 | 6,284 | 40,497 | 32,903 | 34,862 | 35,963 | |
5,710 | 6,101 | 9,506 | 9,810 | 586 | 309 | 983 | 1,039 | 12,806 | 11,705 | 14,165 | 14,271 | |
Total Liabilities | 38,779 | 37,726 | 45,543 | 41,757 | 19,702 | 28,928 | 22,530 | 24,408 | 71,766 | 72,832 | 88,997 | 96,683 |
24,467 | 20,111 | 23,797 | 22,718 | 642 | 603 | 570 | 541 | 49,342 | 46,583 | 59,467 | 58,142 | |
CWIP | 146 | 48 | 39 | 68 | 0 | 0 | 0 | 1 | 184 | 188 | 742 | 2,994 |
Investments | 4,916 | 5,627 | 7,662 | 7,740 | 7,768 | 17,157 | 18,216 | 19,359 | 4,834 | 6,373 | 1,980 | 4,330 |
9,250 | 11,940 | 14,045 | 11,231 | 11,292 | 11,168 | 3,744 | 4,508 | 17,406 | 19,687 | 26,808 | 31,218 | |
Total Assets | 38,779 | 37,726 | 45,543 | 41,757 | 19,702 | 28,928 | 22,530 | 24,408 | 71,766 | 72,832 | 88,997 | 96,683 |
Cash Flows
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
3,386 | 2,393 | 1,869 | 659 | -333 | -167 | 95 | -288 | 10,264 | 7,933 | 12,976 | 18,453 | |
-31 | -2,575 | -3,236 | -555 | -3,565 | -8,285 | 6,816 | 390 | 1,386 | 2,824 | 3,145 | -10,811 | |
-3,353 | 180 | 1,330 | -95 | 3,845 | 8,457 | -6,907 | -105 | -11,182 | -11,138 | -15,751 | -8,041 | |
Net Cash Flow | 2 | -2 | -37 | 10 | -52 | 4 | 3 | -3 | 468 | -381 | 370 | -398 |
Ratios
Standalone Figures in Rs. Crores / View Consolidated
Mar 2014 | Mar 2015 | Mar 2016 | Mar 2017 | Mar 2018 | Mar 2019 | Mar 2020 | Mar 2021 | Mar 2022 | Mar 2023 | Mar 2024 | Mar 2025 | |
---|---|---|---|---|---|---|---|---|---|---|---|---|
Debtor Days | 9 | 50 | 150 | 59 | 2 | 2 | 133 | 8 | 125 | 113 | 90 | 89 |
Inventory Days | ||||||||||||
Days Payable | ||||||||||||
Cash Conversion Cycle | 9 | 50 | 150 | 59 | 2 | 2 | 133 | 8 | 125 | 113 | 90 | 89 |
Working Capital Days | -148 | -139 | -45 | -170 | 116 | -147 | -165 | 3 | 101 | 84 | 80 | 93 |
ROCE % | 9% | 7% | 9% | 3% | 2% | 4% | 3% | 1% | 26% | 18% | 34% | 24% |
Documents
Announcements
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
4m - Adani Power to meet investors on June 10, 2025, at Annual Conference in Mumbai.
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Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - Intimation
2 Jun - Adani Power Limited has informed about the Analyst / Investor Meet scheduled on June 3, 2025
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Announcement under Regulation 30 (LODR)-Newspaper Publication
1 Jun - Adani Power Limited has submitted to the Exchange, a copy of the Newspaper Publication informing about the Notice of 29th Annual General Meeting and E-voting …
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Intimation Of Book Closure
31 May - Book closure from June 18-25, 2025 for 29th AGM and e-voting cut-off on June 18.
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Business Responsibility and Sustainability Reporting (BRSR)
31 May - Adani Power's FY 2024-25 Business Responsibility and Sustainability Report with ESG risks, goals, and governance.
Annual reports
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Financial Year 2025
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Financial Year 2024
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Financial Year 2023
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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
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Financial Year 2013
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Financial Year 2012
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Concalls
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May 2025Transcript PPT
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Apr 2025TranscriptNotesPPT
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Apr 2025TranscriptNotesPPT REC
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Nov 2024Transcript PPT REC
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Feb 2024Transcript PPT REC
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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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Oct 2016TranscriptPPT
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May 2016TranscriptPPT
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Feb 2016TranscriptPPT
Business Profile[1]
Adani Power operates under the broader Adani Group’s infrastructure and energy portfolio, which includes power generation, transmission, distribution, renewable energy, and international power exports. APL supplies power through long-term Power Purchase Agreements (PPAs) with state electricity boards and industrial consumers, while also engaging in merchant power sales with in-house coal logistics.