Adani Power Ltd.

NSE: ADANIPOWER · Power

₹204.29+0.14%06 Nov 2026

Ask the data

Instant answers about Adani Power Ltd. — computed from its filings, no language model

Market cap₹3,93,967 cr

Current price₹204.29

High / Low₹249 / ₹133

P/E21.6

P/B5.13

Book value₹39.8

ROE23.7%

ROCE17.1%

Debt / equity0.81

Dividend yield—

EPS (TTM)₹9.45

Face value₹2

Price & valuation

split & bonus adjusted · pick a metric and range

Annual performance

annual · ₹ crore · line = operating margin

showing latest 6 of 9 periods

	FY18	FY19	FY20	FY21	FY22	FY23	FY24	FY25	FY26
Revenue	20,611	23,884	26,468	26,221	27,711	38,773	50,351	56,203	54,241
EBITDA	5,691	4,954	5,685	8,669	9,814	10,045	18,181	21,305	19,806
Operating margin	27.6%	20.7%	21.5%	33.1%	35.4%	25.9%	36.1%	37.9%	36.5%
Interest	5,570	5,657	5,315	5,106	4,095	3,334	3,388	3,340	3,367
Depreciation	2,699	2,751	3,006	3,202	3,118	3,304	3,931	4,309	4,565
Profit before tax	-2,095	-976	-2,265	2,289	6,577	7,675	20,792	16,360	15,500
Tax	-5	9	10	1,019	1,666	-3,052	-37	3,610	2,528
Net profit	0	0	-2,275	1,270	4,912	10,727	20,829	12,939	12,834
EPS ₹	-5.42	-3.21	-8.19	0.06	9.63	24.57	51.62	32.32	6.62
Operating cash flow	—	—	—	—	10,233	8,431	14,170	21,501	20,514
Capex	—	—	—	—	3,435	3,244	2,602	11,559	23,307
Dividend paid	—	—	—	—	0	0	0	0	0
Total assets	69,528	67,985	75,025	78,806	81,981	85,821	92,325	1,12,918	1,42,280
Equity	889	7,712	6,480	13,113	18,703	29,876	43,145	56,347	64,937

Quarterly performance

last 34 quarters · ₹ crore

showing latest 8 of 34 periods

	MAR '18	SEP '18	DEC '18	MAR '19	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
Revenue	4,064	7,182	6,380	6,722	7,805	5,916	6,575	6,172	5,204	7,749	6,895	6,374	6,569	5,184	5,361	10,598	13,723	7,044	7,764	10,242	11,006	12,991	12,991	13,364	14,956	13,339	13,671	14,237	14,109	13,457	12,451	14,223	18,902	19,439
Operating profit	1,302	2,330	1,086	608	2,684	1,349	1,448	205	1,388	4,043	1,623	1,614	1,648	1,163	1,771	5,232	5,720	948	1,470	1,907	3,514	5,171	4,645	4,850	6,194	5,276	5,023	4,813	5,685	5,150	4,238	4,732	7,949	8,231
Operating margin	32.0%	32.4%	17.0%	9.0%	34.4%	22.8%	22.0%	3.3%	26.7%	52.2%	23.5%	25.3%	25.1%	22.4%	33.0%	49.4%	41.7%	13.5%	18.9%	18.6%	31.9%	39.8%	35.8%	36.3%	41.4%	39.6%	36.7%	33.8%	40.3%	38.3%	34.0%	33.3%	42.1%	42.3%
Other income	97	476	287	1,356	210	900	110	155	152	1,043	204	528	644	388	233	2,710	1,786	1,402	526	553	7,103	1,945	364	518	518	724	1,162	298	465	851	543	1,766	420	512
Interest	1,363	1,407	1,531	1,357	1,322	1,326	1,423	1,244	1,392	1,364	1,223	1,127	1,068	976	1,015	1,035	823	818	946	746	883	888	797	820	811	807	957	765	857	842	701	967	901	760
Depreciation	681	697	682	692	690	765	783	768	783	828	810	782	774	785	784	774	816	833	838	817	935	1,004	1,002	990	996	1,059	1,170	1,085	1,089	1,193	1,135	1,147	1,167	1,191
Profit before tax	-645	702	-840	-84	-122	158	-649	-1,653	-634	2,894	-206	234	450	-210	204	6,133	5,866	699	212	898	8,800	5,224	3,210	3,558	4,906	4,134	4,059	3,261	4,204	3,966	2,945	4,384	6,300	6,792
Tax	3	315	340	-719	268	154	54	-340	49	666	83	221	171	21	-14	1,488	1,086	3	203	-4,345	40	-1,371	472	821	993	837	1,119	662	899	1,060	457	113	1,552	-231
Net profit	0	0	0	0	0	0	-702	-1,313	-682	2,228	-289	13	278	-231	218	4,645	4,780	696	9	5,242	8,759	6,594	2,738	2,737	3,913	3,332	3,057	2,637	3,385	2,953	2,480	4,017	4,806	6,919
EPS ₹	-1.68	1.00	-3.40	1.32	-1.20	-0.51	-2.34	-3.98	-2.38	4.90	-1.63	-0.83	-0.18	-1.51	-0.34	11.65	11.58	0.98	-0.81	12.81	21.90	16.48	6.61	6.63	9.72	8.21	7.67	6.62	8.62	1.53	1.29	2.08	2.49	3.59
Revenue YoY	—	—	—	65.4%	—	-17.6%	3.0%	-8.2%	-33.3%	31.0%	4.9%	3.3%	26.2%	-33.1%	-22.2%	66.3%	108.9%	35.9%	44.8%	-3.4%	-19.8%	84.4%	67.3%	30.5%	35.9%	2.7%	5.2%	6.5%	-5.7%	0.9%	-8.9%	-0.1%	34.0%	44.5%
Profit YoY	—	—	—	—	—	—	—	—	—	—	—	—	—	-110.3%	—	35280.6%	1618.0%	—	-96.0%	12.9%	83.3%	848.1%	31119.6%	-47.8%	-55.3%	-49.5%	11.7%	-3.7%	-13.5%	-11.4%	-18.9%	52.3%	42.0%	134.3%

Earlier results (standalone, Sep '09 – Dec '17)

₹ crore · from BSE, before the NSE XBRL filings begin

Adani Power Ltd. reports consolidated figures above. Quarterly consolidated results only became mandatory in India in 2019, so the earlier history available is the standalone company only (excluding subsidiaries). It is shown separately so the two bases are never mixed.

Full years

	FY11†	FY12†	FY13†	FY14†	FY15†	FY16†	FY17†
Revenue	2,106	3,949	6,333	11,010	10,950	12,704	11,763
Operating profit	1,208	1,237	797	3,539	2,871	3,377	2,003
Operating margin	57.4%	31.3%	12.6%	32.1%	26.2%	26.6%	17.0%
Other income	34	125	535	590	408	523	735
Interest	238	613	1,739	3,164	2,728	2,952	3,102
Depreciation	180	551	1,138	1,431	1,126	977	1,121
Profit before tax	824	-4	-1,494	-465	-139	-28	-5,392
Tax	300	290	458	-1,061	0	-34	-83
Net profit	524	-294	-1,952	595	-139	6	-5,309

Quarters

showing latest 8 of 34 periods

	SEP '09†	DEC '09†	MAR '10†	JUN '10†	SEP '10†	DEC '10†	MAR '11†	JUN '11†	SEP '11†	DEC '11†	MAR '12†	JUN '12†	SEP '12†	DEC '12†	MAR '13†	JUN '13†	SEP '13†	DEC '13†	MAR '14†	JUN '14†	SEP '14†	DEC '14†	MAR '15†	JUN '15†	SEP '15†	DEC '15†	MAR '16†	JUN '16†	SEP '16†	DEC '16†	MAR '17†	JUN '17†	SEP '17†	DEC '17†
Revenue	—	234	201	353	395	503	856	819	1,072	1,059	998	1,464	1,434	1,688	1,747	2,110	2,017	2,502	4,382	3,002	2,409	3,047	2,494	3,059	2,943	3,070	3,631	2,873	2,834	2,891	3,165	2,682	3,399	2,183
Operating profit	-0	127	117	213	210	273	512	410	519	212	96	-120	304	236	377	303	341	532	2,363	755	663	728	726	710	690	803	1,174	751	668	378	206	338	1,079	-425
Operating margin	—	54.5%	58.3%	60.4%	53.0%	54.3%	59.9%	50.1%	48.4%	20.0%	9.6%	-8.2%	21.2%	14.0%	21.6%	14.3%	16.9%	21.3%	53.9%	25.1%	27.5%	23.9%	29.1%	23.2%	23.4%	26.1%	32.3%	26.1%	23.6%	13.1%	6.5%	12.6%	31.7%	-19.5%
Other income	—	—	32	8	19	2	6	8	1	2	114	115	134	141	145	120	152	162	156	106	100	104	99	131	135	125	132	138	194	173	230	137	61	72
Interest	—	17	21	43	45	53	96	89	134	139	252	487	240	526	486	899	930	628	707	677	820	678	554	741	769	700	741	739	757	785	821	712	595	607
Depreciation	—	18	18	28	36	45	71	104	105	157	185	231	253	315	340	354	371	361	344	363	375	324	64	235	241	260	240	239	241	244	396	279	289	283
Profit before tax	-0	93	111	150	147	176	351	226	225	-286	-168	-723	-54	-413	-304	-831	-807	-295	1,468	-180	-431	54	418	-135	-184	-33	324	-89	-135	-478	-4,690	-516	256	792
Tax	0	20	12	35	21	67	177	49	48	72	122	70	171	94	122	88	103	131	-1,382	0	0	0	0	0	0	0	-34	-83	0	0	0	0	0	0
Net profit	-0	72	98	114	126	109	174	177	177	-358	-290	-793	-225	-507	-427	-919	-910	-426	2,850	-180	-431	54	418	-135	-184	-33	358	-5	-135	-478	-4,690	-516	256	792
EPS ₹	—	0.48	0.47	0.53	0.58	0.50	0.80	0.81	0.81	-1.64	-1.33	-3.64	-1.03	-2.12	-1.78	-3.57	-3.17	-1.48	9.92	-0.63	-1.50	0.19	1.46	-0.47	-0.63	-0.11	1.13	-0.02	-0.40	-1.38	-12.83	-1.34	0.67	2.05
Revenue YoY	—	—	—	—	—	115.2%	325.1%	131.8%	171.4%	110.8%	16.7%	78.8%	33.7%	59.3%	75.0%	44.1%	40.6%	48.2%	150.8%	42.3%	19.4%	21.8%	-43.1%	1.9%	22.2%	0.8%	45.6%	-6.1%	-3.7%	-5.8%	-12.8%	-6.6%	19.9%	-24.5%
Profit YoY	—	—	—	—	—	50.5%	77.3%	54.5%	41.0%	-428.2%	-266.5%	-548.4%	-227.0%	—	—	—	—	—	—	—	—	—	-85.3%	—	—	-161.0%	-14.4%	—	—	—	-1410.2%	—	—	—

Returns & margins

trailing-twelve-month, per quarter

showing latest 8 of 30 periods

	JUN '19	SEP '19	DEC '19	MAR '20	JUN '20	SEP '20	DEC '20	MAR '21	JUN '21	SEP '21	DEC '21	MAR '22	JUN '22	SEP '22	DEC '22	MAR '23	JUN '23	SEP '23	DEC '23	MAR '24	JUN '24	SEP '24	DEC '24	MAR '25	JUN '25	SEP '25	DEC '25	MAR '26	JUN '26	SEP '26
ROE	0.0%	0.0%	-9.1%	-31.1%	-41.6%	-7.2%	-0.9%	9.7%	17.0%	-1.7%	2.1%	26.3%	50.3%	42.7%	41.9%	35.9%	49.2%	50.9%	57.6%	48.3%	37.0%	22.7%	23.3%	23.0%	22.0%	20.6%	19.6%	19.8%	22.0%	23.7%
ROCE	10.3%	9.1%	9.2%	5.2%	4.4%	9.1%	9.6%	11.3%	12.4%	7.1%	7.4%	15.8%	23.5%	23.9%	23.8%	15.3%	19.4%	25.6%	29.5%	31.2%	26.0%	20.4%	21.5%	20.8%	20.1%	17.9%	16.6%	15.9%	17.7%	17.1%
Net margin	0.0%	0.0%	-2.6%	-7.6%	-11.3%	-1.8%	-0.2%	4.8%	8.1%	-0.9%	1.2%	17.7%	27.0%	28.2%	25.9%	27.7%	40.8%	49.1%	49.4%	41.4%	29.4%	23.3%	23.6%	23.0%	22.4%	21.7%	21.1%	23.7%	24.1%	28.0%
EBITDA margin	23.9%	21.4%	22.5%	21.5%	18.4%	27.6%	27.9%	33.1%	32.4%	24.2%	26.4%	35.4%	39.8%	37.2%	34.2%	25.9%	21.7%	28.7%	32.3%	36.1%	38.4%	38.4%	38.6%	37.9%	37.6%	37.3%	36.7%	36.5%	37.4%	38.7%
Debt / equity	5.64	5.64	5.64	8.08	8.08	8.08	8.08	4.00	4.00	4.00	4.00	2.61	2.61	1.87	1.87	1.41	1.41	0.80	0.80	0.80	0.80	0.67	0.67	0.68	0.68	0.81	0.81	0.82	0.82	0.81
Interest coverage	0.94	0.84	0.87	0.57	0.48	0.99	1.08	1.45	1.71	1.06	1.16	2.61	4.12	4.50	4.56	3.30	4.13	5.37	6.47	7.14	6.10	5.89	5.91	5.90	5.63	5.53	5.54	5.60	6.16	7.13
Asset turnover	0.41	0.39	0.40	0.35	0.32	0.34	0.35	0.33	0.35	0.32	0.30	0.34	0.43	0.42	0.45	0.45	0.42	0.47	0.53	0.55	0.59	0.49	0.50	0.50	0.49	0.44	0.43	0.38	0.41	0.39

Balance sheet

equity vs borrowings over time · ₹ crore

showing latest 6 of 18 periods

	MAR '14‡	MAR '15‡	MAR '16‡	MAR '17‡	MAR '18‡	MAR '19‡	MAR '20‡	MAR '21‡	MAR '22‡	SEP '22	MAR '23	SEP '23	MAR '24	SEP '24	MAR '25	SEP '25	MAR '26	SEP '26
Share 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	3,857	3,857	3,857	3,857	3,857	3,857
Other equity / reserves	3,671	2,853	4,043	-857	-2,968	3,855	2,624	9,256	14,846	20,346	26,019	36,652	39,288	52,097	52,490	54,594	61,080	72,901
Total equity	6,543	5,725	7,377	3,000	889	7,712	6,480	13,113	18,703	24,203	29,876	40,509	43,145	55,954	56,347	58,451	64,937	76,758
Borrowings	39,769	41,385	49,130	49,231	49,120	43,484	52,368	52,411	48,796	45,242	42,252	32,214	34,457	37,427	38,335	47,254	53,556	61,860
Current liabilities	18,289	17,441	25,786	25,662	28,038	18,160	18,189	18,727	17,144	18,678	17,745	17,439	15,789	15,354	16,441	16,878	20,328	27,622
Non-current liabilities	33,907	35,309	36,205	42,850	40,601	42,113	50,355	46,966	46,134	43,739	38,201	31,761	33,391	37,435	38,803	49,026	55,550	59,641
Total assets	58,739	58,474	69,368	71,511	69,528	67,985	75,025	78,806	81,981	86,620	85,821	89,709	92,325	1,10,784	1,12,918	1,25,551	1,42,280	1,65,640
Property, plant & equipment	46,355	45,065	49,675	54,193	51,940	50,224	55,571	52,575	53,072	51,762	50,544	64,604	62,813	70,943	69,027	70,785	69,076	68,227
Capital work-in-progress	3,660	191	88	125	120	350	2,347	6,439	10,270	11,550	12,880	461	925	9,455	12,104	19,779	35,053	45,539
Investments	115	357	0	164	0	3	3	20	183	20	654	110	374	321	1,097	50	1,516	8,569
Inventories	1,281	1,629	1,619	1,760	874	1,224	2,523	2,025	2,258	4,967	3,075	3,074	4,142	3,739	3,317	3,140	3,623	3,997
Receivables	1,543	3,490	9,443	7,704	6,070	8,551	8,366	11,839	9,561	9,152	11,529	10,546	11,677	14,703	13,022	9,438	11,791	13,214
Cash & equivalents	831	856	869	81	62	25	941	113	782	346	349	820	1,136	524	320	4,683	928	3,897

Cash flow

annual · ₹ crore · line = free cash flow

showing latest 5 of 13 periods

	FY14‡	FY15‡	FY16‡	FY17‡	FY18‡	FY19‡	FY20‡	FY21‡	FY22	FY23	FY24	FY25	FY26
Cash from operations	3,238	5,824	4,819	4,725	5,101	5,610	5,598	7,014	10,233	8,431	14,170	21,501	20,514
Cash from investing	-4,700	-4,737	-3,703	-1,212	-520	-984	-2,328	-2,188	774	1,545	3,485	-17,142	-26,461
Cash from financing	1,631	-1,144	-2,261	-3,539	-4,600	-4,663	-2,377	-5,655	-10,338	-10,408	-16,864	-5,175	6,555
Capex	—	—	—	—	—	1,212	—	3,618	3,435	3,244	2,602	11,559	23,307
Free cash flow	—	—	—	—	—	4,399	—	3,397	6,798	5,187	11,568	9,942	-2,793
Dividends paid	—	—	—	—	—	—	—	—	0	0	0	0	0

Where the assets sit

Sep '26 · ₹ crore

Fixed assets (PPE)

₹68,227 cr41%

CWIP

₹45,539 cr27%

Investments

₹8,569 cr5%

Inventories

₹3,997 cr2%

Receivables

₹13,214 cr8%

Cash & equivalents

₹3,897 cr2%

Other assets

₹22,197 cr13%

Peer comparison

largest in Power · this company in bold

Company	Market cap ₹cr	Price	P/E	P/B	ROE
Adani Power Ltd.	3,93,967	204.29	21.6	5.13	23.7%
NTPC Ltd.	3,13,639	323.45	10.6	1.47	13.9%
Power Grid Corporation of India Ltd.	2,41,723	259.90	14.9	2.26	15.2%
Adani Green Energy Ltd.	2,34,549	1,424.10	125.2	10.86	8.7%
Adani Energy Solutions Ltd.	1,78,233	1,457.40	48.1	5.69	11.8%
Tata Power Co. Ltd.	1,12,645	352.50	29.2	2.85	9.8%
JSW Energy Ltd.	96,224	524.95	41.5	2.62	6.3%
NHPC Ltd.	82,450	82.08	19.1	1.88	9.9%
NTPC Green Energy Ltd.	69,627	82.63	106.0	3.59	3.4%
Torrent Power Ltd.	64,051	1,271.10	26.5	3.05	11.5%

StoxGud checklist: Bullish setup · 9/10

Price above 50-day average
Price above 200-day average
50-day average above 200-day (uptrend)
RSI in healthy 40–70 zone
Positive 1-year return
Return on equity above 15%
Debt to equity below 1
Revenue growing year on year
Net profit margin above 10%
P/E below industry median

A rules-based screen of trend, momentum, quality and valuation. Educational only — not a buy or sell recommendation.

Returns & technicals

1 month+3.7%

6 months-11.3%

1 year+26.0%

3Y CAGR+37.4%

5Y CAGR+57.9%

10Y CAGR+44.5%

50-day avg₹199.35

200-day avg₹193.05

RSI (14)59

Long-term financials (FY11–FY11)

from published annual reports

Year	Revenue	Profit before tax	Net profit
FY11	₹2,135 Cr	₹813 Cr	₹514 Cr

Years before FY17 follow the older Indian GAAP standard, so they are not exactly comparable with recent years.

Compare Adani Power Ltd. with

Adani Power vs NTPC Adani Power vs Power Grid Corporation of India Adani Power vs Adani Green Energy Adani Power vs Adani Energy Solutions

FAQs

What is the share price of Adani Power Ltd.?

Adani Power Ltd. (ADANIPOWER) closed at ₹204.29 on NSE on 06 Nov 2026.

What is the market cap of Adani Power Ltd.?

₹3,93,967 crore at the latest close.

What is the P/E ratio of Adani Power Ltd.?

21.6, on trailing-twelve-month earnings from its filings.

How fast is Adani Power Ltd. growing?

Adani Power Ltd.: revenue has compounded at 11.8% a year over three years; net profit at 6.2% a year. Latest-quarter revenue is up 44.5% year on year, profit up 134.3%.

How profitable is Adani Power Ltd.?

On a trailing-twelve-month basis return on equity is 23.7%, return on capital employed 17.1%, operating margin 38.7%, net margin 28.0%.

How much debt does Adani Power Ltd. have?

Adani Power Ltd. is moderately geared: debt to equity is 0.81 with borrowings of ₹61,860 cr against cash of ₹3,897 cr (balance sheet of 2026-09-30). Operating profit covers interest 7.1 times.

Financials parsed from Adani Power Ltd.'s own XBRL filings to NSE (consolidated), ₹ crore unless marked. Quarterly from MAR '18, annual from FY18, balance sheet from Mar '14. * = derived (full year or half year minus earlier quarters). ‡ = balance sheet / cash flow read from the company's published annual report (same basis), for years before the NSE filings carry them; each one checked to add up. Information only, not investment advice.