Adani Power Limited (IN:ADANIPOWER)
:ADANIPOWER
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Adani Power Limited
(ADANIPOWER)
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Rating:73Outperform
Price Target:
₹215.00
▲(29.60% Upside)
Action:UpgradedDate:04/17/26
The score is driven primarily by strong financial performance (profitability and cash flow improvements) and a clear technical uptrend, partially offset by overbought technical signals and a relatively high P/E with no dividend yield data.
Positive Factors
Margin Turnaround
Sustained improvement in gross and net margins reflects structurally better cost management and pricing power across plants. Higher margins enhance cash generation per MWh, improve resilience to demand fluctuations, and support reinvestment and deleveraging over the medium term.
Negative Factors
Revenue Contraction in Fundamentals
A large negative reported revenue growth metric suggests volatile or shrinking top-line in recent periods. Persistent revenue declines erode economies of scale, pressure fixed-cost recovery at thermal plants, and limit the company's ability to sustainably convert margin improvements into durable profit growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Margin Turnaround
Sustained improvement in gross and net margins reflects structurally better cost management and pricing power across plants. Higher margins enhance cash generation per MWh, improve resilience to demand fluctuations, and support reinvestment and deleveraging over the medium term.
Read all positive factors
Adani Power Limited (ADANIPOWER) vs. iShares MSCI India ETF (INDA)
Market Cap
₹4.11T
Dividend YieldN/A
Average Volume (3M)1.16M
Price to Earnings (P/E)27.8
Beta (1Y)0.76
Revenue Growth-0.67%
EPS Growth-12.15%
CountryIN
Employees3,295
SectorEnergy
Sector Strength52
IndustryIndependent Power Producers
Share Statistics
EPS (TTM)1.30
Shares Outstanding19,284,695,000
10 Day Avg. Volume1,037,294
30 Day Avg. Volume1,158,684
Financial Highlights & Ratios
PEG Ratio-0.41
Price to Book (P/B)3.53
Price to Sales (P/S)3.54
P/FCF Ratio20.03
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)6.76
Revenue Forecast (FY)₹624.32B
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 makes money mainly by selling electricity generated from its power plants. Revenue is typically earned under (a) long-term power purchase agreements (PPAs) signed with state distribution companies and other offtakers, where contracted ...
Adani Power Limited Financial Statement Overview
Summary
Income Statement
85
Very Positive
Balance Sheet
78
Positive
Cash Flow
82
Very Positive
| Breakdown | TTM | Mar 2025 | Mar 2024 | Mar 2023 | Mar 2022 | Mar 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 551.24B | 562.03B | 503.51B | 387.73B | 277.11B | 262.21B |
| Gross Profit | 222.90B | 242.08B | 204.48B | 119.67B | 112.33B | 98.96B |
| EBITDA | 214.24B | 213.88B | 182.16B | 102.03B | 99.19B | 86.76B |
| Net Income | 120.32B | 129.39B | 208.29B | 107.27B | 49.12B | 12.70B |
Balance Sheet | ||||||
| Total Assets | 1.26T | 1.13T | 923.25B | 858.21B | 819.81B | 785.35B |
| Cash, Cash Equivalents and Short-Term Investments | 103.41B | 71.58B | 33.48B | 9.61B | 9.70B | 1.34B |
| Total Debt | 484.64B | 394.95B | 346.16B | 421.81B | 487.44B | 525.19B |
| Total Liabilities | 659.04B | 552.45B | 491.80B | 559.46B | 632.78B | 654.23B |
| Stockholders Equity | 584.51B | 563.47B | 431.45B | 298.76B | 187.03B | 131.13B |
Cash Flow | ||||||
| Free Cash Flow | 43.31B | 99.42B | 115.68B | 51.87B | 67.98B | 29.85B |
| Operating Cash Flow | 149.39B | 215.01B | 141.70B | 84.31B | 102.33B | 70.14B |
| Investing Cash Flow | -130.74B | -171.42B | 34.85B | 15.44B | 5.72B | -21.88B |
| Financing Cash Flow | 24.98B | -51.75B | -168.64B | -104.08B | -103.38B | -56.55B |
Adani Power Limited Technical Analysis
Positive
165.90
Price Trends
152.24
Positive
147.72
Positive
140.83
Positive
Market Momentum
11.38
Negative
86.55
Negative
94.28
Negative
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 above the 20-day moving average (MA) of 164.25, above the 50-day MA of 152.24, and above the 200-day MA of 140.83, indicating a bullish trend. The MACD of 11.38 indicates Negative momentum. The RSI at 86.55 is Negative, neither overbought nor oversold. The STOCH value of 94.28 is Negative, 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 |
|---|---|---|---|---|---|---|---|
77 Outperform | ₹2.81T | 8.59 | ― | 6.62% | -1.10% | -13.29% | |
73 Outperform | ₹4.11T | 27.80 | ― | ― | -0.67% | -12.15% | |
73 Outperform | ₹3.90T | 14.56 | ― | 2.66% | 0.88% | 10.00% | |
69 Neutral | ₹414.19B | 11.98 | ― | 1.20% | 8.66% | 15.85% | |
65 Neutral | $15.17B | 7.61 | 4.09% | 5.20% | 3.87% | -62.32% | |
64 Neutral | ₹957.90B | 50.05 | ― | 0.41% | 55.52% | 18.59% | |
62 Neutral | ₹117.46B | 143.50 | ― | ― | 1.43% | -88.43% |
* Energy Sector Average
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Adani Power Limited Corporate Events
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...
Adani Power Publishes Analyst Call Recording After Results Update
Jan 29, 2026
Adani Power Limited has notified the stock exchanges that it has made available the audio recording of its post-results update call held with analysts and investors on January 29, 2026, accessible via a link on the company’s website. The dis...
Adani Power Plans US Investor Roadshow and Conference Meetings in February 2026
Jan 28, 2026
Adani Power Limited has notified stock exchanges that it will engage with investors and analysts through a non-deal roadshow in the USA from February 2–6, 2026, followed by participation in the Adani Annual Conference in the USA on February ...
Adani Power Raises ₹7,500 Crore via AA-Rated NCD Issue on Private Placement
Jan 27, 2026
Adani Power Limited has raised INR 7,500 crore through a private placement of 750,000 secured, listed, rated, taxable, non-cumulative, redeemable non-convertible debentures, each with a face value of INR 1,00,000. The issuance, approved earlier by...
Adani Power Files SEBI Regulation 74(5) Compliance Certificate for December Quarter
Jan 24, 2026
Adani Power Limited has submitted to the BSE and NSE a confirmation certificate under Regulation 74(5) of the SEBI (Depositories and Participants) Regulations, 2018 for the quarter ended December 31, 2025. The certificate, issued by its registrar ...
Adani Power Says US Legal Summons Report Does Not Involve the Company
Jan 24, 2026
Adani Power Limited has informed the Bombay Stock Exchange and the National Stock Exchange that recent media reports about a US regulator seeking measures to serve legal summons on Gautam and Sagar Adani do not involve the company itself. Reiterat...
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.