Adani Power Limited (IN:ADANIPOWER)
:ADANIPOWER
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Adani Power Limited
(ADANIPOWER)
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Rating:65Neutral
Price Target:
₹238.00
▲(43.46% Upside)
Action:Downgraded
Date:05/01/26
The score is primarily constrained by weakening FY2026 financial quality (higher debt and negative free cash flow alongside softer operating performance). Technicals are supportive with a strong trend, but overbought signals add near-term risk. Valuation is also a headwind given the elevated P/E and no dividend yield data.
Positive Factors
Balance-sheet improvement and moderated leverage
Leverage moderation and equity growth materially strengthen financial resilience. A healthier capital structure reduces refinancing risk and increases capacity to fund maintenance and project capex, supporting operational continuity and financing flexibility over the next several months.
Negative Factors
Re-leveraging: higher debt in FY2026
A material rise in debt erodes prior balance-sheet improvements and elevates interest and refinancing burdens. If earnings weaken further, higher leverage can constrain investment, force tighter liquidity management, and increase default or covenant risk over the coming quarters.
Read all positive and negative factors
Positive Factors
Negative Factors
Balance-sheet improvement and moderated leverage
Leverage moderation and equity growth materially strengthen financial resilience. A healthier capital structure reduces refinancing risk and increases capacity to fund maintenance and project capex, supporting operational continuity and financing flexibility over the next several months.
Read all positive factors
Adani Power Limited (ADANIPOWER) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.25T
Dividend YieldN/A
Average Volume (3M)1.16M
Price to Earnings (P/E)18.1
Beta (1Y)0.76
Revenue Growth-1.75%
EPS Growth-0.85%
CountryIN
Employees3,295
SectorEnergy
Sector Strength52
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)5.87
Shares Outstanding19,284,695,000
10 Day Avg. Volume1,037,294
30 Day Avg. Volume1,158,684
Financial Highlights & Ratios
PEG Ratio9.17
Price to Book (P/B)4.49
Price to Sales (P/S)5.42
P/FCF Ratio-52.81
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)6.98
Revenue Forecast (FY)₹627.89B
Adani Power Limited Business Overview & Revenue Model
Company Description
Adani Power Limited engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPA), medium and short term PPA, and on merchant basis in India. The company generates electricity through thermal and ...
How the Company Makes Money
Adani Power primarily makes money by generating and selling electricity. Its core revenue stream comes from long-term power purchase agreements (PPAs) where contracted buyers (often state distribution utilities) pay for electricity supplied under ...
Adani Power Limited Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
64
Positive
Cash Flow
55
Neutral
| Breakdown | TTM | Mar 2026 | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 551.24B | 537.81B | 562.03B | 503.51B | 387.73B | 277.11B |
| Gross Profit | 222.90B | 184.27B | 242.08B | 204.48B | 119.67B | 112.33B |
| EBITDA | 214.24B | 193.47B | 213.88B | 182.16B | 102.03B | 99.19B |
| Net Income | 120.32B | 128.34B | 129.39B | 208.29B | 107.27B | 49.12B |
Balance Sheet | ||||||
| Total Assets | 1.26T | 1.42T | 1.13T | 923.25B | 858.21B | 819.81B |
| Cash, Cash Equivalents and Short-Term Investments | 103.41B | 84.18B | 71.58B | 33.48B | 9.61B | 9.70B |
| Total Debt | 484.64B | 546.70B | 394.95B | 346.16B | 421.81B | 487.44B |
| Total Liabilities | 659.04B | 758.78B | 552.45B | 491.80B | 559.46B | 632.78B |
| Stockholders Equity | 584.51B | 649.37B | 563.47B | 431.45B | 298.76B | 187.03B |
Cash Flow | ||||||
| Free Cash Flow | 43.31B | -55.22B | 99.42B | 115.68B | 51.87B | 67.98B |
| Operating Cash Flow | 149.39B | 178.28B | 215.01B | 141.70B | 84.31B | 102.33B |
| Investing Cash Flow | -130.74B | -278.04B | -171.42B | 34.85B | 15.44B | 5.72B |
| Financing Cash Flow | 24.98B | 105.85B | -51.75B | -168.64B | -104.08B | -103.38B |
Adani Power Limited Technical Analysis
Positive
165.90
Price Trends
183.39
Positive
163.18
Positive
151.37
Positive
Market Momentum
9.93
Positive
60.19
Neutral
45.59
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:ADANIPOWER, the sentiment is Positive. The current price of 165.9 is below the 20-day moving average (MA) of 220.01, below the 50-day MA of 183.39, and above the 200-day MA of 151.37, indicating a neutral trend. The MACD of 9.93 indicates Positive momentum. The RSI at 60.19 is Neutral, neither overbought nor oversold. The STOCH value of 45.59 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for IN:ADANIPOWER.
Adani Power Limited Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
80 Outperform | ₹2.83T | 6.40 | ― | 6.62% | 4.76% | -12.06% | |
73 Outperform | ₹3.81T | 14.56 | ― | 2.66% | 0.88% | 10.00% | |
66 Neutral | ₹491.35B | 10.57 | ― | 1.20% | 14.45% | 34.37% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
65 Neutral | ₹4.25T | 18.08 | ― | ― | -1.75% | -0.85% | |
62 Neutral | ₹112.16B | 143.50 | ― | ― | 1.43% | -88.43% | |
55 Neutral | ₹943.58B | 36.79 | ― | 0.41% | 60.92% | 14.55% |
* Energy Sector Average
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Adani Power Limited Corporate Events
Adani Power Reschedules Q4 FY26 Earnings Call for Analysts and Investors
Apr 25, 2026
Adani Power has informed stock exchanges that its earnings conference call for research analysts and institutional investors, originally slated for April 29, 2026, at 5:00 p.m., has been rescheduled to April 30, 2026, at 11:00 a.m. The call, to di...
Adani Power Deepens Nuclear Push with New Step-Down Subsidiary
Apr 21, 2026
Adani Power Limited has expanded its nuclear energy footprint with the incorporation of Rawatbhata-Raj Atomic Energy Limited, a step-down wholly owned subsidiary formed under its existing unit Adani Atomic Energy Limited. The new entity, establish...
Adani Power Deepens Nuclear Foray With New Step-Down Subsidiary
Apr 19, 2026
Adani Power Limited has expanded its nuclear energy footprint via its wholly owned subsidiary, Adani Atomic Energy Limited, which has incorporated a new step-down wholly owned unit, Coastal-Maha Atomic Energy Limited, in India. The new entity will...
ICRA Assigns and Reaffirms Strong Credit Ratings for Adani Power’s Rs 69,000 Crore Facilities
Apr 17, 2026
Adani Power Limited has received credit rating actions from ICRA Limited, which assigned ICRA AA/Stable and ICRA A1+ ratings to its additional term loan and non-fund-based bank guarantee facilities. The agency also reaffirmed the same ratings for ...
Adani Power Files SEBI Regulation 74(5) Compliance Certificate for March Quarter
Apr 2, 2026
Adani Power Limited has submitted a confirmation certificate to Indian stock exchanges for the quarter ended March 31, 2026, as required under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018. The certificate, provide...
Adani Power Signals Interest in Jaiprakash Associates’ Power Assets Under NCLT Plan
Mar 19, 2026
Adani Power Limited has indicated an in-principle interest in becoming one of the implementing entities under the court-approved resolution plan for debt-laden Jaiprakash Associates Limited, led by Adani Enterprises. The plan would allow Adani Pow...
Adani Power Announces Change in Company Secretary and Compliance Officer
Mar 17, 2026
Adani Power Limited has announced a key change in its senior management, with long-serving Company Secretary and Compliance Officer Deepak S. Pandya set to retire from the company effective at the close of business on March 31, 2026. The move foll...
Adani Power Announces Transition in Company Secretary and Compliance Officer Role
Mar 17, 2026
Adani Power Limited has announced a change in a key managerial position, with long-serving Company Secretary and Compliance Officer Deepak S. Pandya set to retire from the company at the close of business on 31 March 2026. The board, acting on the...
Adani Power Announces Change in Company Secretary and Compliance Officer
Mar 17, 2026
Adani Power Limited has announced a change in its key managerial personnel, with Company Secretary and Compliance Officer Deepak S. Pandya set to superannuate at the close of business on March 31, 2026. Based on the Nomination and Remuneration Com...
Adani Power wins 25-year, 1,600 MW thermal supply contract from MSEDCL
Mar 15, 2026
Adani Power Limited has received a Letter of Award from Maharashtra State Electricity Distribution Company Limited to supply 1,600 MW of thermal power under a long-term Power Supply Agreement. The contract spans 25 years and is based on a first-ye...
ICRA Reaffirms High Credit Rating on ₹69,000 Crore Adani Power Facilities
Feb 28, 2026
Adani Power Limited has received an ICRA AA with Stable outlook for its additional term loan facilities, while the rating agency also reaffirmed the same rating on the company’s existing bank facilities and proposed non-convertible debenture...
Adani Power Subsidiary Wins 558 MW Tamil Nadu Supply Deal, Boosting Long-Term Revenue Visibility
Feb 24, 2026
Adani Power’s subsidiary Moxie Power Generation has secured a Letter of Award from Tamil Nadu Power Distribution Corporation to supply 558 MW of power from its 1,200 MW Tuticorin plant for five years, starting 1 April 2026, at a tariff of Rs...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.