NSE: ADANIPOWER · BSE: 533096 · ISIN INE814H01029
Adani Power Limited stock analysis
Adani Power Limited ranks #453 in the TickerSutra evidence-ranked universe with a score of 64/100 and 95% data confidence. The latest captured fundamentals show ROCE of 17.2%, quarterly sales growth of 34.0% and quarterly profit growth of 42.0%.Monitor only
INVESTMENT EVIDENCE
What supports—and challenges—the thesis
Evidence in favour
- Strong CFO/EBITDA of 1.04×
- Institutional ownership is rising
- CWIP indicates an active capacity pipeline
Risks and constraints
- Debt/equity is above 0.5×
Still unresolved: Related-party exposure · Broad media sentiment
FINANCIAL TRAJECTORY
Recent operating history
| Period | Revenue | Operating profit | Net profit | Operating margin |
|---|---|---|---|---|
| 2022 | ₹27,711cr | ₹9,881cr | ₹4,912cr | 36.0% |
| 2023 | ₹38,773cr | ₹10,096cr | ₹10,727cr | 26.0% |
| 2024 | ₹50,351cr | ₹18,228cr | ₹20,829cr | 36.0% |
| 2025 | ₹56,203cr | ₹21,418cr | ₹12,750cr | 38.0% |
| 2026 | ₹54,241cr | ₹19,806cr | ₹12,971cr | 37.0% |
| TTM | ₹59,033cr | ₹22,070cr | ₹14,533cr | 37.0% |
EXCHANGE EVENT TRIGGERS
Latest corporate disclosures
Adani Power Limited has informed the Exchange about an Update
RoutineTrading WindowBSE · 28 Sept 2026Adani Power Limited has informed the Exchange regarding the Trading Window closure pursuant to SEBI (Prohibition of Insider Trading) Regulations, 2015
RoutineAdani Power Ltd - 533096 - Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationBSE · 28 Sept 2026Adani Power Limited has informed the Exchange about Earnings Call / Analyst Investor Meet
RoutineAdani Power Ltd - 533096 - Board Meeting Intimation for Consideration And Approval Of Unaudited Financial Results (Standalone And Consolidated) For The Quarter And Half Year Ended September 30, 2026BSE · 28 Sept 2026Adani Power Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 23/10/2026 ,inter alia, to consider and approve Unaudited Financial Results (Standalone ....
RoutineGeneral UpdatesNSE · 26 Sept 2026Adani Power Limited has informed the Exchange about Update on the Scheme of Amalgamation
MANAGEMENT COMMENTARY
Signals from filed documents
Financial Performance of MEL Total Income for FY 2025-26 was ` 3,614 crore, compared to ` 4,220 crore in FY 2024-25. The reduction was due to lower realisation of merchant tariffs in FY 2025-26 as compared to the previous year. EBITDA for FY 2025-26 was lower at ` 1,599 crore, compared to ` 1,893 crore in the corresponding period of the previous year, on account of lower merchant realisation and lower other income.
This creates exposure to stricter environmental rules, uncertain coal supply, and fluctuating imported fuel prices. � Regulatory and tariff pressures: APL encounters tariff disagreements and approval delays. Issues include coal linkage approvals and recovery of alternative coal costs.
� Scale and diversified asset base: APL operates India’s largest private thermal portfolio with sizeable capacity spread across multiple states, supplemented by acquired and turnaround assets. This scale creates operating leverage, procurement benefits and meaningful efficiencies across maintenance, staffing and logistics. � High operational reliability: Consistently high plant availability has been sustained over ma
Due to these high temperatures, peak demand shot up to a record high of around 271 GW in May '26, while overall energy consumption rose by 8.4% on a year -on-year to 485 billion units for quarter 1, FY27. This has also put to rest concerns over any demand slowdown that has arisen in the previous year. Thermal power was once again the mainstay for fulfilling the nation's electricity needs during this period of surging
As of now, these are enabling provisions we have requested to our shareholders to approve. We have a massive capacity expansion with a capex program of more than INR2 lakhs crores over the period of next few years. At the same time, we are generating significant internal accruals from our operating assets.
The initiative focuses on strengthening the dairy value chain through a comprehensive approach that includes the formation of Farmer Producer Organizations (FPOs) to aggregate smallholder dairy farmers and enhance their collective capabilities. By facilitating structured market linkages, the program aims to ensure improved price realization, reduced dependence on intermediaries, and stable market access. These interv
As you would be aware, we have ordered the entire 24 GWs of BTG supply in advance and secured the land required for the expansion program. We have tied up 56% of our upcoming capacity already under long -term PPAs, and we are confident of tying up the balance capacity soon through ongoing and upcoming bids. Further, I'm thrilled to say the Adani Power has been ranked as India's most valued energy brand by Brand Finan
As and when it is finalized, we will certainly share. And would it be at least -- do you know the regulatory structure? Will it be a sort of a cost-plus structure or fixed tariff?
The acquisition of VIPL advances APL 's position as India's leading private sector power producer, with a combined operating power generation capacity of 18,150 MW. The Company has expressed interest in acting as an “Implementing Entity” for acquiring certain power assets and investments of Jaiprakash Associates Limited (“ JAL ”), subject to necessary approvals, as part of a Resolution Plan submitted by its associate
Consequently, the authorised share capital of your Company as on March 31, 2026 stood at ` 24800,00,00,000 divided into 12400,00,00,000 equity shares of face value of ` 2 each. Non-Convertible Debentures (“NCDs”) During the year, your Company allotted 7,50,000 secured, listed, rated, taxable, non-cumulative, redeemable, non-convertible debentures (“Debentures”) each bearing a face value of INR 1,00,000 aggregating to
HOW TO READ THIS PAGE
Evidence, freshness and limitations
What does the TickerSutra score mean?
The score ranks captured evidence across financial quality, growth, moat and margins, regulatory catalysts, governance, institutional trend and valuation comfort. It is a research-prioritization tool—not a buy recommendation or price target.
Which sources support this page?
Financial history, ownership and pledge data, NSE and BSE filings, annual reports and available earnings-call transcripts are combined here. Use the source trail and original exchange document before relying on a decision-critical fact.
Why can an item be unresolved?
Unresolved means the current captured source window did not provide enough evidence for that check. It does not establish that a risk or relationship is absent.
Maintained by TickerSutra Research · Snapshot updated 29 Sept 2026 · Read the methodology · Read the disclaimer
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