āagman

Not investment advice. Data and computed figures, for information only.

Adani Power Ltd

NSE: ADANIPOWERF&O
₹196.50
+₹1.35 (+0.69%)
NSE · 15 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹3,64,481 Cr
CMP
₹196.50
52-wk High / Low
₹254 / 128
P/E
25.6
P/B
5.6
Book Value
₹33.7
Div Yield
0.00%
ROCE
17.0%
ROE
21.1%
Face Value
₹2
D/E
0.84

Price+31.3% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 13 quarters of filings. Not reported by the company.
As of 15 Oct 2026
How we compute these
Piotroski F-Score
4
/ 9
4 of 9 F-score tests passed
Graham Number
₹71
√(22.5 × EPS × book value per share)
ROIC
10.7%
vs 5.8% sector median
Cash flow to profit
1.58
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
+176
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
21.1%
ROE × earnings retention ratio
ROE stability
10.4
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −0.70DII +0.78
Latest quarter vs the previous one
Cash-accrual divergence
−5.9%
of assets
Low = accruals track cash flow
Strengths
+ROCE has stayed above the sector median for 5 consecutive years (weakest: 16% vs the 2023 sector median of 10%)
+Price trades above its 200-day moving average (1.0x)
+PE of 25.6x is below the sector median of 25.7x
Watch-outs

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales11,00612,99112,99113,36414,95613,33913,67114,23714,10913,45712,45114,22318,902
Expenses7,4917,8198,3468,5148,7618,0638,6489,4258,4248,3078,2139,49110,953
Operating Profit3,5145,1714,6454,8506,1945,2765,0234,8135,6855,1504,2384,7327,949
OPM %31.9%39.8%35.8%36.3%41.4%39.6%36.7%33.8%40.3%38.3%34.0%33.3%42.1%
Other Income7,1031,9453645185187241,1622984658515431,766538
Interest883888797820811807957765857842701967901
Depreciation9351,0041,0029909961,0591,1701,0851,0891,1931,1351,1471,167
Profit before tax8,8005,2243,2103,5584,9064,1344,0593,2614,2043,9662,9454,3846,418
Net Profit8,7596,5942,7382,7373,9133,2982,9402,5993,3052,9062,4884,2714,867
EPS (₹)4.543.421.421.422.031.731.591.371.761.531.292.082.49

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales18,68325,37722,61620,30423,88426,46826,22127,71138,77350,35156,20354,24159,033
Expenses14,00516,57516,63514,86818,90120,73417,53317,83028,67732,12434,78534,43436,964
Operating Profit4,6788,8025,9805,4364,9835,7348,6889,88110,09618,22821,41819,80622,070
OPM %25.0%34.7%26.4%26.8%20.9%21.7%33.1%35.7%26.0%36.2%38.1%36.5%37.4%
Other Income1,188−201−3,6667542,4483231,9093,9084,2169,8832,5903,6253,698
Interest4,8645,5605,9025,5705,6575,3155,1064,0953,3343,3883,3403,3673,411
Depreciation1,8182,6662,6722,6992,7513,0063,2023,1183,3043,9314,3094,5654,643
Profit before tax−816375−6,260−2,079−976−2,2652,2896,5777,67520,79216,36015,50017,713
Net Profit−816551−6,174−2,103−984−2,2751,2704,91210,72720,82912,75012,97114,533
EPS (₹)−0.570.33−3.20−1.09−0.51−1.180.662.555.5610.806.716.667.39

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital2,8723,3343,8573,8573,8573,8573,8573,8573,8573,8573,8573,857—
Reserves2,8534,134−857−2,9683,8552,6249,25614,60025,77239,04252,49061,080—
Borrowings44,74252,72952,48452,83546,98055,19952,41149,14542,59634,86239,49554,670—
Other Liabilities8,00815,59716,02715,80413,29313,34613,01214,37913,59614,24817,07621,861—
Total Liabilities58,47475,79471,51169,52867,98575,02578,53581,98185,82192,0091,12,9181,41,469—
Fixed Assets45,08056,94154,39152,13750,41955,84652,85153,27451,45163,01669,29769,401—
CWIP191881251203502,3476,43910,27012,88092512,10435,053—
Investments3570164033201836543741,0971,516—
Other Assets12,84618,76516,83117,27117,21316,83019,22518,25420,83627,69430,41835,498—
Total Assets58,47475,79471,51169,52867,98575,02578,53581,98185,82192,0091,12,9181,41,469—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity5,8245,2574,7255,1015,6105,5987,01410,2338,43114,17021,50120,514
Cash from Investing Activity−4,737−2,692−1,212−520−984−2,304−2,1887741,5453,481−17,142−26,461
Cash from Financing Activity−1,144−2,713−3,539−4,600−4,663−2,377−5,655−10,338−10,408−16,864−5,1756,555
Net Cash Flow−58−148−26−19−37917−828669−433787−816608

Ratios

As of 31 Mar 2026
12 periods
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %7.011.06.06.09.07.012.016.016.032.023.017.0
ROE %———————————21.1
EPS (₹)−0.570.33−3.20−1.09−0.51−1.180.662.555.5610.806.716.66
Book Value (₹)———————————33.7
Face Value (₹)———————————2
P/E———————————25.6
Div Yield %———————————0.00
NPM %−4.12.2−32.6−10.0−3.7−8.54.515.525.034.621.722.4
OPM %25.035.026.027.021.022.033.036.026.036.038.037.0
D/E7.827.0617.4959.436.098.524.002.661.440.810.700.84
P/B———————————5.6

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+8.0%
5 years+16.0%
3 years+12.0%
TTM+7.0%
Compounded profit growth
10 years+37.0%
5 years+58.0%
3 years+6.0%
TTM+15.0%
Stock price CAGR
10 years+44.0%
5 years+56.0%
3 years+40.0%
Last year+26.0%
Return on equity
10 years27.0%
5 years33.0%
3 years32.0%
Last year21.0%

Shareholding pattern

As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters68.08%68.08%68.08%73.07%74.97%74.97%74.97%74.97%74.97%71.75%74.96%74.96%74.96%
FIIs22.12%22.12%22.12%11.28%10.02%12.38%11.52%11.31%11.70%15.91%12.36%11.73%11.03%
DIIs2.67%2.67%2.67%9.14%10.11%8.29%7.08%5.56%0.01%1.41%1.64%3.69%4.47%
Government—————————————
Public7.12%7.12%7.12%6.51%4.90%4.35%6.43%8.15%13.32%10.93%11.03%9.63%9.55%
No. of shareholders3,40,7493,40,7493,40,7493,46,6052,92,0363,03,8055,55,59011,74,86317,90,67514,26,24918,91,23420,87,01121,80,320
Change since Jun 2023 (pp)
Promoters +6.88FIIs −11.09DIIs +1.80Public +2.43

Documents

As of 11 Oct 2026
Announcements
Disclosures under Reg. 29(2) of SEBI (SAST) Regulations, 2011Announcement under Regulation 30 (LODR)-Analyst / Investor Meet - IntimationCompliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Memorandum of Understanding /AgreementsAnnouncement Under Regulation 30 (LODR) -Update
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Sep 2026PPTSep 2026PPTAug 2026PPTAug 2026PPTAug 2026TranscriptAug 2026PPT

Corporate actions

As of 22 Sep 2025
22 Sep 2025SPLITFace Value Split (Sub-Division) - From Rs 10/- Per Share To Rs 2/- Per Share10 : 2
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman