RattanIndia Power Limited (RTNPOWER) AI Stock Analysis

• Market Cap: ₹45.70B
• Dividend Yield: N/A
• Average Volume (3M): 2.38M
• Price to Earnings (P/E): 34.4
• Beta (1Y): 0.85
• Revenue Growth: -5.68%
• EPS Growth: -99.16%
• Country: IN
• Employees: 524
• Sector: Energy
• Sector Strength: 52
• Industry: Renewable Utilities
• EPS (TTM): 0.10
• Shares Outstanding: 5,370,106,000
• 10 Day Avg. Volume: 2,461,653
• 30 Day Avg. Volume: 2,381,068
• PEG Ratio: -0.25
• Price to Book (P/B): 1.18
• Price to Sales (P/S): 1.65
• P/FCF Ratio: 18.51
• 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: 44 Neutral
• Price Target: ₹8.50 ▼(-12.91% Downside)

RattanIndia Power Limited's overall stock score is primarily influenced by financial instability and bearish technical indicators. High leverage and negative equity weigh heavily on the financial performance, while technical analysis suggests a bearish trend. The high P/E ratio indicates potential overvaluation, further impacting the stock's attractiveness.

Positive Factors

Contracted PPA revenue stream

Long-term PPAs provide predictable cash flows and reduce merchant exposure, anchoring revenue durability. For a thermal generator, contracted tariffs and capacity components stabilize receipts across cycles, supporting investment planning and debt servicing over multi-month horizons.

Positive operating cash flow trend

Sustained positive operating cash flow indicates the assets generate cash despite accounting losses, enabling ongoing plant operations, working capital needs, and interest payments. This cash generation underpins near-term solvency and creates optionality for deleveraging or capex over coming quarters.

Tariff design supports cost recovery

Tariff structures that allow recovery of fixed and variable costs protect margins from short-term volume swings and fuel price volatility. For thermal plants, this contractual cost pass-through mechanism preserves long-term margin sustainability and reduces earnings sensitivity to operational variance.

Negative Factors

High leverage and negative equity

Elevated debt and recurrent negative equity signal solvency risk and limited financial flexibility. High leverage raises refinancing and covenant pressure, increasing default risk if cash flows weaken and constraining the company's ability to invest in maintenance or diversify away from coal over the medium term.

Revenue and EPS deterioration

Declining revenue coupled with a near-collapse in EPS reflects structural demand or pricing stress and margin pressure. Persistent top-line contraction and earnings erosion undermine internal funding, complicate debt servicing, and limit the firm's capacity to fund sustaining capex without additional financing.

Profitability and free cash flow inconsistency

Volatile margins, intermittent net losses and uneven free cash flow make long-term planning harder and increase reliance on external financing. Inconsistent FCF undermines ability to invest in plant reliability or emissions controls, raising operational and regulatory execution risk over months to years.

RattanIndia Power Limited Business Overview & Revenue Model

Company Description

RattanIndia Power Limited engages in power generation, distribution, trading and transmission, and other ancillary and related activities in India. It is involved in the development of 2 coal based thermal power projects with an aggregate capacity of 5,400 MW, including 2,700 MW project at Nandgaonpeth in Amravati district and 2,700 MW project at Sinnar in Nasik district, in the State of Maharashtra. The company was formerly known as Indiabulls Power Limited and changed its name to RattanIndia Power Limited in October 2014. RattanIndia Power Limited was incorporated in 2007 and is headquartered in New Delhi, India.

How the Company Makes Money

RattanIndia Power Limited generates revenue primarily through the sale of electricity produced at its power plants. The company enters into power purchase agreements (PPAs) with various state and central electricity distribution companies, ensuring a steady income stream from the sale of generated power. Additionally, RTNPOWER may engage in ancillary services and the trading of renewable energy certificates (RECs), which can provide supplementary income. Strategic partnerships with government agencies and private sector players enhance its market position and can lead to joint ventures in new projects, thereby diversifying its revenue streams and reducing operational risks. Factors such as electricity demand, regulatory changes, and the company's ability to secure contracts play crucial roles in its overall earnings.

RattanIndia Power Limited Financial Statement Overview

Summary

RattanIndia Power Limited faces financial volatility with mixed income statement performance, high leverage, and negative equity. Positive cash flow trends are a strength, but profitability and balance sheet stability remain concerns.

Income Statement

RattanIndia Power Limited shows a mixed performance in its income statement. The company has experienced fluctuations in revenue, with a slight decline in the most recent period. Gross Profit Margin and Net Profit Margin are relatively stable, but the company has faced challenges in maintaining consistent profitability, as evidenced by negative net income in several periods. EBIT and EBITDA margins have shown volatility, indicating potential operational efficiency issues.

Balance Sheet

The balance sheet reflects significant leverage, with a high debt-to-equity ratio due to substantial debt levels. The company has a negative equity in several periods, indicating potential solvency issues. Despite this, there has been some improvement in stockholders' equity and total assets. Return on Equity (ROE) is not meaningful due to negative equity values in recent years.

Cash Flow

Cash flow analysis reveals a positive trend in operating cash flow, which is a strength for the company. However, free cash flow growth has been inconsistent. The operating and free cash flow to net income ratios highlight the company's ability to generate cash despite net income challenges.

Breakdown	TTM	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	31.74B	32.84B	33.64B	32.31B	32.60B	15.60B
Gross Profit	7.01B	8.57B	8.91B	9.92B	10.09B	8.30B
EBITDA	7.72B	5.85B	116.22B	10.67B	7.75B	17.02B
Net Income	1.16B	2.22B	88.97B	-18.70B	-19.81B	-9.42B
Balance Sheet
Total Assets	0.00	97.96B	95.66B	173.72B	176.58B	186.15B
Cash, Cash Equivalents and Short-Term Investments	3.63B	3.63B	4.62B	2.42B	2.74B	716.92M
Total Debt	0.00	36.15B	35.62B	110.18B	115.52B	122.55B
Total Liabilities	-45.85B	52.11B	52.02B	219.05B	203.20B	192.44B
Stockholders Equity	45.85B	45.85B	43.64B	-45.33B	-26.62B	-6.25B
Cash Flow
Free Cash Flow	0.00	2.93B	12.07B	9.85B	9.19B	7.33B
Operating Cash Flow	0.00	4.10B	13.06B	10.15B	9.34B	7.36B
Investing Cash Flow	0.00	869.00M	-4.62B	-52.90M	550.90M	1.01B
Financing Cash Flow	0.00	-4.40B	-9.02B	-9.77B	-9.52B	-7.95B

RattanIndia Power Limited Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 9.76
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For IN:RTNPOWER, the sentiment is Neutral. The current price of 9.76 is above the 20-day moving average (MA) of 8.65, above the 50-day MA of 9.26, and below the 200-day MA of 11.42, indicating a neutral trend. The MACD of -0.30 indicates Negative momentum. The RSI at 47.51 is Neutral, neither overbought nor oversold. The STOCH value of 54.80 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for IN:RTNPOWER.

RattanIndia Power Limited Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
TDPOWERSYS	69 Neutral	₹114.34B	52.06	―	0.23%	40.14%	53.51%
Sector *	65 Neutral	$15.17B	7.61	4.09%	5.20%	3.87%	-62.32%
INOXGREEN	55 Neutral	₹63.68B	104.57	―	―	24.33%	66.14%
GMRP&UI	51 Neutral	₹71.91B	8.92	―	―	18.74%	-58.19%
BORORENEW	46 Neutral	₹69.35B	-96.31	―	―	7.68%	-114.23%
RTNPOWER	44 Neutral	₹45.70B	34.35	―	―	-5.68%	-99.16%
SWSOLAR	43 Neutral	₹43.24B	-11.09	―	―	112.24%	-474.43%