Adani Power Limited (ADANIPOWER) AI Stock Analysis

• Market Cap: ₹2.74T
• Dividend Yield: N/A
• Average Volume (3M): 1.16M
• Price to Earnings (P/E): 22.7
• Beta (1Y): 0.80
• Revenue Growth: -0.70%
• EPS Growth: -5.41%
• Country: IN
• Employees: 3,295
• Sector: Energy
• Sector Strength: 52
• Industry: Independent Power Producers
• EPS (TTM): 1.75
• Shares Outstanding: 19,284,695,000
• 10 Day Avg. Volume: 1,037,294
• 30 Day Avg. Volume: 1,158,684
• PEG Ratio: -0.41
• Price to Book (P/B): 3.53
• Price to Sales (P/S): 3.54
• P/FCF Ratio: 20.03
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 62 Neutral
• Price Target: ₹154.00 ▼(-7.17% Downside)

Adani Power Limited's overall stock score reflects strong financial performance and moderate valuation, offset by bearish technical indicators. The company's robust revenue and profit growth, along with improved leverage management, are significant strengths. However, current market momentum suggests caution, as technical indicators point to potential oversold conditions.

Positive Factors

Operational Efficiency

Improved gross profit margin indicates efficient cost management, enhancing the company's ability to sustain profitability over the long term.

Cash Flow Generation

Strong free cash flow supports operational sustainability, providing the company with the flexibility to invest in growth opportunities and manage debt.

Leverage Management

Better leverage management reduces financial risk, enhancing the company's stability and ability to weather economic fluctuations.

Negative Factors

Revenue Growth Decline

Negative revenue growth indicates challenges in expanding market share or demand, potentially impacting future profitability and market position.

Earnings Decline

A decline in earnings per share suggests reduced profitability, which can affect investor confidence and the company's ability to reinvest in its operations.

High Leverage

High leverage can strain financial resources, limiting the company's ability to invest in growth and increasing vulnerability to interest rate hikes.

Adani Power Limited Business Overview & Revenue Model

Company Description

Adani Power Limited is a leading private power producer in India, primarily engaged in the generation of electricity through thermal power plants. The company operates in the energy sector, focusing on various forms of power generation, including coal, gas, and renewable energy sources. With a robust portfolio of projects across multiple states, Adani Power aims to meet the growing energy demands of the country while contributing to sustainable development through its commitment to renewable energy initiatives.

How the Company Makes Money

Adani Power generates revenue primarily through the sale of electricity to state-owned and private distribution companies under long-term power purchase agreements (PPAs). The company operates several thermal power plants, which are the mainstay of its operations, and it also invests in renewable energy projects to diversify its revenue streams. Additionally, Adani Power benefits from economies of scale due to its large generation capacity. The company may also earn revenues from ancillary services, such as providing grid stability and support, and from carbon credits associated with its renewable energy generation. Partnerships with government entities and other private players in the energy sector further enhance its market presence and revenue potential.

Adani Power Limited Financial Statement Overview

Summary

Adani Power Limited has demonstrated solid financial performance with strong revenue and profit growth, improved operational efficiency, and better leverage management. While high leverage remains a potential risk, the company's enhanced cash flow generation and profitability provide a stable foundation for future growth.

Income Statement

Adani Power Limited has shown a strong revenue growth trend with significant year-over-year increases. The gross profit margin improved to 44.7% in 2025 from 32.1% in 2020, indicating efficient cost management. The net profit margin also strengthened to 22.7% in 2025 from a negative margin in 2020, showcasing a turnaround in profitability. The EBITDA and EBIT margins indicate robust operational efficiency.

Balance Sheet

The debt-to-equity ratio has improved over the years, showing better leverage management, although it remains relatively high at 0.70 in 2025. Return on equity (ROE) has significantly increased, reflecting enhanced shareholder value creation. The equity ratio improved, indicating a stronger equity position relative to total assets.

Cash Flow

Adani Power Limited's free cash flow growth rate has been impressive, supporting operational sustainability. The operating cash flow to net income ratio indicates strong cash generation relative to reported earnings. The free cash flow to net income ratio suggests efficient cash utilization, despite some fluctuations in capital expenditures.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	553.57B	562.03B	503.51B	387.73B	277.11B	262.21B
Gross Profit	239.70B	242.08B	204.48B	119.67B	112.33B	98.96B
EBITDA	206.66B	213.88B	182.16B	102.03B	99.19B	86.76B
Net Income	124.11B	129.39B	208.29B	107.27B	49.12B	12.70B
Balance Sheet
Total Assets	0.00	1.13T	923.25B	858.21B	819.81B	785.35B
Cash, Cash Equivalents and Short-Term Investments	14.95B	71.58B	33.48B	9.61B	9.70B	1.34B
Total Debt	0.00	394.95B	346.16B	421.81B	487.44B	525.19B
Total Liabilities	-576.74B	552.45B	491.80B	559.46B	632.78B	654.23B
Stockholders Equity	576.74B	563.47B	431.45B	298.76B	187.03B	131.13B
Cash Flow
Free Cash Flow	0.00	99.42B	115.68B	51.87B	67.98B	29.85B
Operating Cash Flow	0.00	215.01B	141.70B	84.31B	102.33B	70.14B
Investing Cash Flow	0.00	-171.42B	34.85B	15.44B	5.72B	-21.88B
Financing Cash Flow	0.00	-51.75B	-168.64B	-104.08B	-103.38B	-56.55B

Adani Power Limited Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 165.90
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ADANIPOWER, the sentiment is Negative. The current price of 165.9 is above the 20-day moving average (MA) of 144.17, above the 50-day MA of 147.25, and above the 200-day MA of 128.01, indicating a neutral trend. The MACD of -0.42 indicates Negative momentum. The RSI at 43.51 is Neutral, neither overbought nor oversold. The STOCH value of 30.27 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for IN:ADANIPOWER.

Adani Power Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
COALINDIA	77 Outperform	₹2.58T	8.26	―	6.62%	-0.76%	-10.84%
NTPC	73 Outperform	₹3.26T	13.72	―	2.66%	1.68%	7.60%
NLCINDIA	69 Neutral	₹350.33B	13.41	―	1.20%	18.29%	42.31%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
JSWENERGY	63 Neutral	₹856.93B	42.29	―	0.41%	39.71%	1.33%
ADANIPOWER	62 Neutral	₹2.74T	22.74	―	―	-0.70%	-5.41%
RPOWER	58 Neutral	₹140.29B	46.01	―	―	-0.06%	-74.64%

Adani Power Limited Corporate Events

Adani Power Earns Top ESG Recognition from NSE Sustainability

Adani Power Limited has been recognized by NSE Sustainability Ratings and Analytics Limited for its outstanding ESG performance, achieving an ‘Aspiring’ category score of 65. This accolade highlights Adani Power’s leadership in the thermal power sector and its dedication to implementing advanced emission management technologies, water conservation efforts, and community development programs. The company’s governance practices also exceed regulatory requirements, showcasing its commitment to responsible and inclusive growth.

Adani Power Achieves ‘Aspiring’ ESG Rating Benchmark

Adani Power Limited has been assigned an ESG score of 65 by NSE Sustainability Ratings & Analytics for the fiscal year 2025, placing it in the ‘Aspiring’ category. This score sets a new performance benchmark among its peers in the power generation utility segment, highlighting the company’s commitment to environmental, social, and governance standards.

Adani Power Engages with Debt Investors in Virtual Meeting

Adani Power Limited has announced its participation in a virtual group meeting with debt investors scheduled for December 9, 2025. This interaction, organized at short notice, aims to engage with stakeholders and discuss potential financial strategies, reflecting the company’s proactive approach to investor relations and market engagement.

Adani Power to Engage with Investors at Morgan Stanley Seminar

Adani Power Limited has announced its participation in the upcoming Morgan Stanley Industrials and Energy Seminar, where it will engage in virtual interactions with investors and analysts. This engagement is part of the company’s ongoing efforts to maintain transparency and strengthen its relationships with key stakeholders, potentially impacting its market positioning and investor confidence.

Adani Power Appoints New Independent Director to Strengthen Board

Adani Power Limited announced a change in its board of directors with the appointment of Mr. Narendra Nath Misra as an Additional Director (Non-Executive, Independent) effective from December 4, 2025, for a term of three years. Mr. Misra brings extensive experience from his previous role as Director (Operations) at NTPC Ltd., enhancing Adani Power’s strategic capabilities in the power sector. This appointment is expected to strengthen the company’s governance and operational expertise, potentially impacting its market positioning positively.

Adani Power Appoints Narendra Nath Misra as Independent Director

Adani Power Limited has announced the appointment of Mr. Narendra Nath Misra as an Independent Director, effective December 4, 2025, for a three-year term. Mr. Misra brings extensive experience in the power sector, having held significant roles at NTPC Ltd., and his appointment is expected to strengthen Adani Power’s board with his expertise in operations, engineering, and international representation in high-voltage electrical systems.

Adani Power Secures Major 3,200 MW Project in Assam

Adani Power Limited has been awarded a significant contract by Assam Power Distribution Company Limited to develop a 3,200 MW ultra-supercritical thermal power plant in Assam. This project, which will be executed under the Design, Build, Finance, Own and Operate model, is expected to enhance Adani Power’s market presence in the region and contribute to meeting the long-term energy needs of Assam. The phased commissioning of the project is set to begin in December 2030, with full operations by December 2032, marking a strategic expansion for the company in the Indian power sector.

Adani Power Announces Postal Ballot Results

Adani Power Limited announced the results of a postal ballot, which included the approval of an additional amount for a previously sanctioned Material Related Party Transaction. The postal ballot was conducted electronically, and the scrutinizer’s report confirmed the voting results. This development reflects the company’s adherence to regulatory requirements and its commitment to maintaining transparency in its operations.

Adani Power Ensures Compliance with SEBI Regulations for Q3 2025

Adani Power Limited has submitted a confirmation certificate in compliance with Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018, for the quarter ended September 30, 2025. This submission, facilitated by Kfin Technologies Limited, ensures that all necessary details regarding securities dematerialization and rematerialization have been communicated to the relevant stock exchanges, reflecting the company’s commitment to regulatory compliance and transparency.

Adani Power Forms Joint Venture for Bhutan Hydroelectric Project

Adani Power Limited has announced the incorporation of a joint venture company, Wangchhu Hydroelectric Power Limited, in partnership with Bhutan’s state-owned Druk Green Power Corp. Ltd. This venture aims to develop a 570 MW hydroelectric project in Bhutan, with Adani holding a 49% stake. The project signifies Adani Power’s strategic expansion into the hydroelectric sector, potentially enhancing its market position and offering new opportunities for stakeholders.

Adani Power Seeks Shareholder Approval via Postal Ballot

Adani Power Limited has announced a Postal Ballot to seek shareholder approval for an additional amount related to a Material Related Party Transaction. The voting process will be conducted electronically, with results expected to be published shortly after the voting period ends. This move is part of the company’s compliance with SEBI Listing Regulations, ensuring transparency and stakeholder engagement in its financial decisions.