Adani Power Limited (ADANIPOWER) AI Stock Analysis

• Market Cap: ₹2.28T
• Dividend Yield: N/A
• Average Volume (3M): 240.53K
• Price to Earnings (P/E): 18.4
• Beta (1Y): 0.96
• Revenue Growth: -1.07%
• EPS Growth: -22.35%
• Country: IN
• Employees: 3,295
• Sector: Energy
• Sector Strength: 57
• Industry: Independent Power Producers
• EPS (TTM): 8.60
• Shares Outstanding: 3,856,939,000
• 10 Day Avg. Volume: 181,096
• 30 Day Avg. Volume: 240,525
• PEG Ratio: -0.42
• 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: ₹596.00
• Price Target Upside: 0.71% Upside
• Rating Consensus: Moderate Buy
• Number of Analyst Covering: 1

• Rating: 71 Outperform
• Price Target: ₹639.00 ▲(7.98% Upside)

Adani Power Limited's overall stock score is driven primarily by its strong financial performance, characterized by robust revenue and profit growth, and improved operational efficiency. The technical analysis suggests mixed signals with a short-term bearish trend but a longer-term bullish outlook. The valuation indicates a reasonable price relative to earnings, although the lack of a dividend yield may deter income-focused investors.

Adani Power Limited Business Overview & Revenue Model

Company Description

Adani Power Limited (ADANIPOWER) is one of India's largest private sector power generation companies. It operates within the energy sector, focusing primarily on the production and distribution of electricity. The company owns and manages thermal power plants across India, utilizing coal as its primary fuel source. Adani Power Limited is a part of the Adani Group, a globally integrated infrastructure player with diverse interests in resources, logistics, energy, and agro businesses.

How the Company Makes Money

Adani Power Limited generates revenue through the sale of electricity produced at its thermal power plants. The company's primary revenue stream comes from long-term power purchase agreements (PPAs) with state-owned distribution companies (DISCOMs) and industrial customers, ensuring a stable and predictable income. Additionally, Adani Power participates in the power trading market, selling surplus electricity on the spot market. The company's earnings are influenced by factors such as fuel supply agreements, regulatory tariffs, and its ability to manage operational costs efficiently. Strategic partnerships and investments in innovative technologies also play a role in enhancing its revenue potential.

Adani Power Limited Financial Statement Overview

Summary

Adani Power Limited has demonstrated strong financial performance with robust revenue and profit growth. Improved operational efficiency and better leverage management are evident, though high leverage remains a potential risk.

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	562.03B	562.03B	502.84B	387.73B	277.11B	262.21B
Gross Profit	226.76B	251.14B	161.57B	115.85B	108.88B	96.08B
EBITDA	237.03B	240.08B	280.41B	141.98B	137.13B	102.92B
Net Income	129.39B	127.50B	208.29B	107.27B	49.12B	12.70B
Balance Sheet
Total Assets	1.13T	1.13T	923.25B	858.21B	819.81B	785.35B
Cash, Cash Equivalents and Short-Term Investments	71.58B	71.58B	33.48B	9.61B	9.70B	1.34B
Total Debt	394.95B	394.95B	344.31B	421.81B	487.44B	525.19B
Total Liabilities	552.45B	552.45B	491.80B	559.46B	632.78B	654.23B
Stockholders Equity	563.47B	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: Positive
• Last Price: 591.80
• 50DMA: Positive
• 100DMA: Positive
• 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 Positive. The current price of 591.8 is above the 20-day moving average (MA) of 588.60, above the 50-day MA of 585.12, and above the 200-day MA of 540.96, indicating a bullish trend. The MACD of 3.78 indicates Negative momentum. The RSI at 52.67 is Neutral, neither overbought nor oversold. The STOCH value of 60.61 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
COALINDIA	77 Outperform	₹2.30T	7.07		7.11%	-1.88%	-6.67%
NTPC	76 Outperform	₹3.23T	13.49		2.48%	1.47%	11.89%
ADANIPOWER	71 Outperform	₹2.28T	18.39		―	-1.07%	-22.35%
Sector *	65 Neutral	$15.26B	7.31	3.02%	5.32%	4.27%	-62.52%
JSWENERGY	65 Neutral	₹895.99B	41.19		0.39%	22.49%	6.11%
RPOWER	62 Neutral	₹185.08B	5.82		―	-6.40%	―
NLCINDIA	60 Neutral	₹327.38B	11.50		1.27%	20.46%	41.69%

Adani Power Limited Corporate Events

Adani Power Secures 2400 MW Thermal Project in Bihar

Adani Power Limited has received a Letter of Intent from Bihar State Power Generation Company Limited for a 2400 MW thermal power project in Bihar. The project, which will operate on a Design, Build, Finance, Own, and Operate model, aims to supply electricity to North and South Bihar Power Distribution Companies, marking a significant expansion in Adani Power’s operational capacity and reinforcing its position in the Indian energy market.

Adani Power Initiates Postal Ballot for Share Split and Capital Clause Alteration

Adani Power Limited has announced a Postal Ballot to seek shareholder approval for two key resolutions: the sub-division or split of equity shares and the alteration of the capital clause in its Memorandum of Association. This move is aimed at enhancing liquidity and potentially broadening the shareholder base, reflecting the company’s strategic efforts to optimize its capital structure. The voting process will be conducted electronically, with results expected to be published shortly after the voting period concludes.