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Adani Power Ltd

ADANIPOWER

NSE

₹194.08-0.90%19 Oct 2026

Reports

Power Generation and Distribution

Adani Power Ltd

ADANIPOWER

NSE

₹194.08

-0.90%

19 Oct 2026

SOICxStockScans Reports

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Power Generation and Distribution

Indices

Business Overview: What the company does, in plain English.Growth Catalysts: The forward growth drivers and triggers.Guidance Report: Management guidance vs outcomes.Forensic Report: Accounting quality and red flags.Deep Dive Report: In-depth business analysis.

Adani Power is fundamentally a private electricity factory that runs on coal - India’s largest - built to supply the steady, round-the-clock power that homes, factories and now data centres need when the sun isn’t shining and the wind isn’t blowing. It started in 2006 with a single plant in Mundra, Gujarat, and has since grown into an 18.33 GW fleet across eight states, largely by buying financially distressed power plants and nursing them back to profitable health - a turnaround playbook it has now repeated on more than 7 GW of acquired capacity. That recurring approach - build a plant, then buy a broken one and fix it, using in-house coal logistics and long-term government contracts to lock in the returns - explains everything that follows.

Business segments

Three engines at different stages - a coal-fired cash generator with a locked-in doubling plan, a cross-border hydropower project just breaking ground, and a nuclear platform still on the drawing board - each leaning on the same in-house fuel and project-execution machine.

1. Thermal power: the baseload engine that funds everything else

India’s largest private coal-power fleet sells electricity almost entirely under decades-long government contracts that guarantee fixed fees for keeping the lights available, with fuel costs passed straight through to the buyer.

Paid for being ready, not just for running - under its Power Purchase Agreements (PPAs), the company earns a fixed capacity charge simply by keeping each plant available at 85-90% of its rated output, covering all fixed costs and delivering a stable per-megawatt return; the variable cost of coal is then reimbursed on top, insulating the contract from fuel-price swings. That is how 95% of its 18.15 GW operating capacity is already tied to long-term or medium-term PPAs, with the Godda plant’s contract even denominated in US dollars for the 25-year deal supplying Bangladesh.
Bought, fixed, and repeated - the company has turned acquiring stressed assets into a repeatable growth formula, converting over 7 GW of purchased capacity - plants like Udupi, Raipur, Raigarh, Mahan, Korba, Dahanu and Butibori - into cash-generating operations, most recently entering into definitive agreements for the buyout of the 180 MW Churk plant from Jaiprakash Associates in May 2026.
In-house coal logistics that rivals cannot match - it is the only independent power producer in India that manages its own mine-to-plant coal chain, handling roughly 74 million tonnes of coal and 22 million tonnes of fly ash a year, with around 30 domestic coal rakes loading and 65 rakes in circulation every day. Four captive mines with 14 MTPA of production capacity and long-term fuel-supply agreements covering 87% of its domestic coal-based capacity mean fuel is both cheaper and more secure.
A 23.7 GW pipeline with land and equipment already locked - the company has secured 100% of the land and ordered 100% of the boiler-turbine-generator sets for its next 23,720 MW of projects, 73% of which already have environmental clearance; 56% of that future capacity is already contracted under PPAs, and 60% is brownfield expansion next to existing plants, which speeds up construction.
A central brain watching every plant - the Energy Network Operations Center (ENOC) in Ahmedabad monitors all assets in real time, using AI-driven analytics to spot anomalies early, predict maintenance needs, and optimise the fuel supply chain, while a single integrated contractor now handles end-to-end operations and maintenance across the fleet.

2. Hydropower: a cross-border peaking bet in Bhutan

A 570 MW run-of-river project in Bhutan, owned 49:51 with the state utility, is the first step toward a planned 5,000 MW Himalayan hydro pipeline - construction hasn’t started yet, but the concession is signed.

A government-to-government joint venture - Adani Power and Druk Green Power Corporation, Bhutan’s state-owned utility, incorporated Wangchhu Hydroelectric Power Limited in October 2025, with Adani holding 49% and DGPC 51%, each appointing three directors to the board.
Concession locked before a single shovel moves - a Concession Agreement with the Royal Government of Bhutan and an in-principle Power Purchase Agreement have already been signed, with construction expected to begin by the first half of 2026 and completion targeted within five years of groundbreaking.
The first of a much larger ambition - the Wangchhu project is the inaugural scheme under a May 2025 Memorandum of Understanding between the Adani Group and DGPC to jointly develop 5,000 MW of hydropower in Bhutan, giving the company a foothold in a new geography and a new fuel source that needs no coal at all.

3. Nuclear power: a regulatory placeholder with subsidiaries but no plants

Two shelf companies have been incorporated and site identification is underway, but the nuclear business today is a legal structure waiting for government approvals - no capacity, no construction, no timeline.

Subsidiaries created to hold future licences - Adani Atomic Energy Limited was incorporated in February 2026 as a wholly owned subsidiary, and its own step-down subsidiary, Progressive-UP Atomic Energy Ltd, followed in June 2026, both with the stated purpose of developing, generating and distributing nuclear power.
Early-stage exploration, no committed projects - the company is identifying sites and seeking necessary approvals, but no capacity figures, construction schedules or PPAs have been disclosed for the nuclear segment.

Group structure and partners

The listed parent sits inside India’s largest integrated infrastructure portfolio, with a web of wholly owned project subsidiaries holding individual power plants - and a growing list of joint ventures and acquired entities that extend its reach from Singapore to Abu Dhabi to Bhutan.

A subsidiary for every plant - key operating assets are held in separate companies: Mahan Energen (94.43% owned) runs the 1,200 MW Mahan plant, Vidarbha Industries Power (100%) holds the 600 MW Butibori plant, Korba Power (100%) runs the 600 MW Korba plant, and Moxie Power Generation (49% equity but treated as a subsidiary due to operational control) operates the 1,200 MW Tuticorin plant.
A recent history of amalgamations - six wholly owned subsidiaries were merged into the parent in March 2023, and Adani Power (Jharkhand) Limited, which held the 1,600 MW Godda plant, was amalgamated effective April 2024, simplifying the corporate structure.
International holding companies and new ventures - Adani Power Global Pte. Ltd. in Singapore and Adani Power Middle East Ltd. in Abu Dhabi were both incorporated in 2024 as investment holding vehicles, while Integrated Power Supply Ltd. was set up in May 2026 to trade electricity and other energy products.
The Adani portfolio umbrella - the company is one of 13 listed entities in the Adani portfolio, which spans logistics, resources, power transmission, renewable energy, gas and infrastructure, and provides shared development, construction and operations capabilities - including the O&M contractor AIMSL - across the group.

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Quick Ratios

Quarterly Results

Profit & Loss

Balance Sheet

Cash Flow

Ratios

Peer Comparison

Price

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Documents

Edit Ratios

Mkt Cap

Market Capitalization

₹3,74,277Cr

Close Price

₹194.08

Industry

Power Generation and Distribution

Price To Earnings

26.26

Price To Sales

6.34

Revenue

₹59,033Cr

Rev Gr TTM

Revenue Growth TTM

6.64%

PAT Gr TTM

PAT Growth TTM

19.69%

Upcoming Results on

23 Oct 2026

Consolidated

Standalone

Numbers

Percentage

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	12,991	12,991	13,364	14,956	13,339	13,671	14,237	14,109	13,457	12,451	14,223	18,902
Growth YoY Revenue Growth YoY%	84.4	67.3	30.5	35.9	2.7	5.2	6.5	-5.7	0.9	-8.9	-0.1	34.0
Expenses ExpensesCr	7,819	8,346	8,514	8,761	8,063	8,648	9,425	8,424	8,307	8,213	9,491	10,953
Operating Profit Operating ProfitCr	5,171	4,645	4,850	6,194	5,276	5,023	4,813	5,685	5,150	4,238	4,732	7,949
OPM OPM%	39.8	35.8	36.3	41.4	39.5	36.7	33.8	40.3	38.3	34.0	33.3	42.0
Other Income Other IncomeCr	1,945	364	518	518	724	1,162	298	465	851	543	1,766	538
Interest Expense Interest ExpenseCr	888	797	820	811	807	957	765	857	842	701	967	901
Depreciation DepreciationCr	1,004	1,002	990	996	1,059	1,170	1,085	1,089	1,193	1,135	1,147	1,167
PBT PBTCr	5,224	3,210	3,558	4,906	4,134	4,059	3,261	4,204	3,966	2,945	4,384	6,418
Tax TaxCr	-1,371	472	821	993	837	1,119	662	899	1,060	457	113	1,552
PAT PATCr	6,594	2,738	2,737	3,913	3,298	2,940	2,599	3,305	2,906	2,488	4,271	4,867
Growth YoY PAT Growth YoY%	848.1	31,119.6	-47.8	-55.3	-50.0	7.4	-5.0	-15.5	-11.9	-15.4	64.3	47.2
NPM NPM%	50.8	21.1	20.5	26.2	24.7	21.5	18.3	23.4	21.6	20.0	30.0	25.8
EPS EPS₹	3.3	1.3	1.3	1.9	1.6	1.5	1.3	1.7	1.5	1.3	2.1	2.5

Quarter	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Revenue RevenueCr	12,991	12,991	13,364	14,956	13,339	13,671	14,237	14,109	13,457	12,451	14,223	18,902
Growth YoY Revenue Growth YoY%	84.4	67.3	30.5	35.9	2.7	5.2	6.5	-5.7	0.9	-8.9	-0.1	34.0
Expenses ExpensesCr	7,819	8,346	8,514	8,761	8,063	8,648	9,425	8,424	8,307	8,213	9,491	10,953
Operating Profit Operating ProfitCr	5,171	4,645	4,850	6,194	5,276	5,023	4,813	5,685	5,150	4,238	4,732	7,949
OPM OPM%	39.8	35.8	36.3	41.4	39.5	36.7	33.8	40.3	38.3	34.0	33.3	42.0
Other Income Other IncomeCr	1,945	364	518	518	724	1,162	298	465	851	543	1,766	538
Interest Expense Interest ExpenseCr	888	797	820	811	807	957	765	857	842	701	967	901
Depreciation DepreciationCr	1,004	1,002	990	996	1,059	1,170	1,085	1,089	1,193	1,135	1,147	1,167
PBT PBTCr	5,224	3,210	3,558	4,906	4,134	4,059	3,261	4,204	3,966	2,945	4,384	6,418
Tax TaxCr	-1,371	472	821	993	837	1,119	662	899	1,060	457	113	1,552
PAT PATCr	6,594	2,738	2,737	3,913	3,298	2,940	2,599	3,305	2,906	2,488	4,271	4,867
Growth YoY PAT Growth YoY%	848.1	31,119.6	-47.8	-55.3	-50.0	7.4	-5.0	-15.5	-11.9	-15.4	64.3	47.2
NPM NPM%	50.8	21.1	20.5	26.2	24.7	21.5	18.3	23.4	21.6	20.0	30.0	25.8
EPS EPS₹	3.3	1.3	1.3	1.9	1.6	1.5	1.3	1.7	1.5	1.3	2.1	2.5

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	25,532	22,616	20,304	23,884	26,468	26,221	27,711	38,773	50,351	56,203	54,241	59,033
Growth Revenue Growth%	35.6	-11.4	-10.2	17.6	10.8	-0.9	5.7	39.9	29.9	11.6	-3.5	6.6
Expenses ExpensesCr	16,730	16,644	14,903	18,930	20,782	17,553	17,897	28,729	32,171	34,898	34,434	36,964
Operating Profit Operating ProfitCr	8,802	5,972	5,401	4,954	5,685	8,669	9,814	10,045	18,181	21,305	19,806	22,070
OPM OPM%	34.5	26.4	26.6	20.7	21.5	33.1	35.4	25.9	36.1	37.9	36.5	37.4
Other Income Other IncomeCr	202	-3,658	789	2,477	371	1,928	3,975	4,267	9,930	2,703	3,625	3,698
Interest Expense Interest ExpenseCr	5,963	5,902	5,570	5,657	5,315	5,106	4,095	3,334	3,388	3,340	3,367	3,411
Depreciation DepreciationCr	2,666	2,672	2,699	2,751	3,007	3,202	3,118	3,304	3,931	4,309	4,565	4,643
PBT PBTCr	375	-6,260	-2,079	-976	-2,265	2,289	6,577	7,675	20,792	16,360	15,500	17,713
Tax TaxCr	-176	-86	-5	9	10	1,019	1,666	-3,052	-37	3,610	2,528	3,181
PAT PATCr	551	-6,174	-2,074	-984	-2,275	1,270	4,912	10,727	20,829	12,750	12,971	14,533
Growth PAT Growth%	142.4	-1,220.9	66.4	52.5	-131.1	155.8	286.7	118.4	94.2	-38.8	1.7	19.7
NPM NPM%	2.2	-27.3	-10.2	-4.1	-8.6	4.8	17.7	27.7	41.4	22.7	23.9	24.6
EPS EPS₹	0.3	-3.6	-1.1	-0.6	-1.2	0.7	1.9	4.9	10.3	6.5	6.6	7.4

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
Revenue RevenueCr	25,532	22,616	20,304	23,884	26,468	26,221	27,711	38,773	50,351	56,203	54,241	59,033
Growth Revenue Growth%	35.6	-11.4	-10.2	17.6	10.8	-0.9	5.7	39.9	29.9	11.6	-3.5	6.6
Expenses ExpensesCr	16,730	16,644	14,903	18,930	20,782	17,553	17,897	28,729	32,171	34,898	34,434	36,964
Operating Profit Operating ProfitCr	8,802	5,972	5,401	4,954	5,685	8,669	9,814	10,045	18,181	21,305	19,806	22,070
OPM OPM%	34.5	26.4	26.6	20.7	21.5	33.1	35.4	25.9	36.1	37.9	36.5	37.4
Other Income Other IncomeCr	202	-3,658	789	2,477	371	1,928	3,975	4,267	9,930	2,703	3,625	3,698
Interest Expense Interest ExpenseCr	5,963	5,902	5,570	5,657	5,315	5,106	4,095	3,334	3,388	3,340	3,367	3,411
Depreciation DepreciationCr	2,666	2,672	2,699	2,751	3,007	3,202	3,118	3,304	3,931	4,309	4,565	4,643
PBT PBTCr	375	-6,260	-2,079	-976	-2,265	2,289	6,577	7,675	20,792	16,360	15,500	17,713
Tax TaxCr	-176	-86	-5	9	10	1,019	1,666	-3,052	-37	3,610	2,528	3,181
PAT PATCr	551	-6,174	-2,074	-984	-2,275	1,270	4,912	10,727	20,829	12,750	12,971	14,533
Growth PAT Growth%	142.4	-1,220.9	66.4	52.5	-131.1	155.8	286.7	118.4	94.2	-38.8	1.7	19.7
NPM NPM%	2.2	-27.3	-10.2	-4.1	-8.6	4.8	17.7	27.7	41.4	22.7	23.9	24.6
EPS EPS₹	0.3	-3.6	-1.1	-0.6	-1.2	0.7	1.9	4.9	10.3	6.5	6.6	7.4

Consolidated

Standalone

Numbers

Percentage

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	3,334	3,857	3,857	3,857	3,857	3,857	3,857	3,857	3,857	3,857	3,857
Reserves ReservesCr	4,134	-857	-2,968	-4,145	-5,992	-5,132	-388	9,711	28,881	46,572	58,218
Current Liabilities Current LiabilitiesCr	26,046	25,662	28,038	18,160	18,189	18,457	17,144	17,745	15,789	16,441	20,328
Non Current Liabilities Non Current LiabilitiesCr	42,280	42,850	40,601	42,113	50,355	46,966	46,134	38,201	33,391	38,803	55,550
Total Liabilities Total LiabilitiesCr	75,794	71,511	69,528	67,985	75,025	78,535	81,981	85,821	92,325	1,12,918	1,42,280
Current Assets Current AssetsCr	16,225	13,531	13,957	13,198	14,593	17,372	16,228	19,553	25,587	26,313	28,688
Non Current Assets Non Current AssetsCr	59,569	57,980	55,572	54,786	60,432	61,164	65,753	66,268	66,738	86,604	1,13,592
Total Assets Total AssetsCr	75,794	71,511	69,528	67,985	75,025	78,535	81,981	85,821	92,325	1,12,918	1,42,280

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital Equity CapitalCr	3,334	3,857	3,857	3,857	3,857	3,857	3,857	3,857	3,857	3,857	3,857
Reserves ReservesCr	4,134	-857	-2,968	-4,145	-5,992	-5,132	-388	9,711	28,881	46,572	58,218
Current Liabilities Current LiabilitiesCr	26,046	25,662	28,038	18,160	18,189	18,457	17,144	17,745	15,789	16,441	20,328
Non Current Liabilities Non Current LiabilitiesCr	42,280	42,850	40,601	42,113	50,355	46,966	46,134	38,201	33,391	38,803	55,550
Total Liabilities Total LiabilitiesCr	75,794	71,511	69,528	67,985	75,025	78,535	81,981	85,821	92,325	1,12,918	1,42,280
Current Assets Current AssetsCr	16,225	13,531	13,957	13,198	14,593	17,372	16,228	19,553	25,587	26,313	28,688
Non Current Assets Non Current AssetsCr	59,569	57,980	55,572	54,786	60,432	61,164	65,753	66,268	66,738	86,604	1,13,592
Total Assets Total AssetsCr	75,794	71,511	69,528	67,985	75,025	78,535	81,981	85,821	92,325	1,12,918	1,42,280

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	5,257	4,725	5,101	5,610	5,598	7,014	10,233	8,431	14,170	21,501	20,514
Investing Cash Flow Investing Cash FlowCr	-3,688	-1,212	-520	-984	-2,328	-2,188	572	1,544	3,482	-17,142	-26,461
Financing Cash Flow Financing Cash FlowCr	-2,713	-3,539	-4,600	-4,663	-2,377	-5,655	-10,338	-10,408	-16,864	-5,175	6,555
Net Cash Flow Net Cash FlowCr	-1,144	-26	-19	-37	892	-828	467	-434	788	-816	608
Free Cash Flow Free Cash FlowCr	5,267	4,735	5,117	5,613	5,604	7,024	10,234	8,431	14,171	21,516	-2,817
CFO To PAT CFO To PAT%	954.5	-76.5	-246.0	-569.9	-246.1	552.3	208.3	78.6	68.0	168.6	158.2
CFO To EBITDA CFO To EBITDA%	59.7	79.1	94.5	113.3	98.5	80.9	104.3	83.9	77.9	100.9	103.6

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Operating Cash Flow Operating Cash FlowCr	5,257	4,725	5,101	5,610	5,598	7,014	10,233	8,431	14,170	21,501	20,514
Investing Cash Flow Investing Cash FlowCr	-3,688	-1,212	-520	-984	-2,328	-2,188	572	1,544	3,482	-17,142	-26,461
Financing Cash Flow Financing Cash FlowCr	-2,713	-3,539	-4,600	-4,663	-2,377	-5,655	-10,338	-10,408	-16,864	-5,175	6,555
Net Cash Flow Net Cash FlowCr	-1,144	-26	-19	-37	892	-828	467	-434	788	-816	608
Free Cash Flow Free Cash FlowCr	5,267	4,735	5,117	5,613	5,604	7,024	10,234	8,431	14,171	21,516	-2,817
CFO To PAT CFO To PAT%	954.5	-76.5	-246.0	-569.9	-246.1	552.3	208.3	78.6	68.0	168.6	158.2
CFO To EBITDA CFO To EBITDA%	59.7	79.1	94.5	113.3	98.5	80.9	104.3	83.9	77.9	100.9	103.6

Consolidated

Standalone

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	11,552	15,408	9,160	18,590	10,703	32,803	71,373	73,899	2,05,845	1,96,395	2,90,235	3,74,277
Price To Earnings Price To Earnings	21.0					25.9	14.5	6.9	9.9	15.2	22.6	26.3
Price To Sales Price To Sales	0.5	0.7	0.5	0.8	0.4	1.3	2.6	1.9	4.1	3.5	5.3	6.3
Price To Book Price To Book	1.6	5.1	10.3	-64.3	-5.0	-25.7	20.6	5.5	6.3	3.9	4.7	6.0
EV To EBITDA EV To EBITDA	6.8	10.7	10.6	12.3	10.8	9.3	12.0	11.4	12.8	10.8	17.1	19.3
Profitability Ratios Profitability Ratios
GPM GPM%	38.1	29.7	30.6	26.2	26.5	36.6	39.3	29.9	39.8	42.2	41.5	41.5
OPM OPM%	34.5	26.4	26.6	20.7	21.5	33.1	35.4	25.9	36.1	37.9	36.5	37.4
NPM NPM%	2.2	-27.3	-10.2	-4.1	-8.6	4.8	17.7	27.7	41.4	22.7	23.9	24.6
ROCE ROCE%	11.3	-0.7	7.0	10.8	6.1	15.3	20.4	19.7	35.9	21.9	16.2	16.2
ROE ROE%	7.4	-205.8	-233.2	342.1	106.6	-99.6	141.6	79.1	63.6	25.3	20.9	20.9
ROA ROA%	0.7	-8.6	-3.0	-1.4	-3.0	1.6	6.0	12.5	22.6	11.3	9.1	9.1
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

Financial Year	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	Current
Valuation Ratios Valuation Ratios
Market Cap Market CapitalizationCr	11,552	15,408	9,160	18,590	10,703	32,803	71,373	73,899	2,05,845	1,96,395	2,90,235	3,74,277
Price To Earnings Price To Earnings	21.0					25.9	14.5	6.9	9.9	15.2	22.6	26.3
Price To Sales Price To Sales	0.5	0.7	0.5	0.8	0.4	1.3	2.6	1.9	4.1	3.5	5.3	6.3
Price To Book Price To Book	1.6	5.1	10.3	-64.3	-5.0	-25.7	20.6	5.5	6.3	3.9	4.7	6.0
EV To EBITDA EV To EBITDA	6.8	10.7	10.6	12.3	10.8	9.3	12.0	11.4	12.8	10.8	17.1	19.3
Profitability Ratios Profitability Ratios
GPM GPM%	38.1	29.7	30.6	26.2	26.5	36.6	39.3	29.9	39.8	42.2	41.5	41.5
OPM OPM%	34.5	26.4	26.6	20.7	21.5	33.1	35.4	25.9	36.1	37.9	36.5	37.4
NPM NPM%	2.2	-27.3	-10.2	-4.1	-8.6	4.8	17.7	27.7	41.4	22.7	23.9	24.6
ROCE ROCE%	11.3	-0.7	7.0	10.8	6.1	15.3	20.4	19.7	35.9	21.9	16.2	16.2
ROE ROE%	7.4	-205.8	-233.2	342.1	106.6	-99.6	141.6	79.1	63.6	25.3	20.9	20.9
ROA ROA%	0.7	-8.6	-3.0	-1.4	-3.0	1.6	6.0	12.5	22.6	11.3	9.1	9.1
Operational Ratios Operational Ratios
Solvency Ratios Solvency Ratios
Liquidity Ratios Liquidity Ratios

	ADANIPOWER	NTPC	ADANIGREEN	TATAPOWER	JSWENERGY	NTPCGREEN	NHPC
Market CapitalizationMkt CapCr	3,74,277	2,99,627	2,13,342	1,12,556	88,411	73,874	71,018
Close PriceClose₹	194.08	309.00	1,295.20	352.25	482.20	87.67	70.70
IndustryIndustry	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution
Price To EarningsPE	26.26	10.79	124.06	29.14	43.02	123.48	20.03
Price To SalesPS	6.34	1.57	15.73	1.77	4.66	22.49	5.82
RevenueRevenueCr	59,033	1,91,059	13,559	63,445	18,965	3,285	12,210
Revenue Growth TTMRev Gr TTM%	6.6%	2.4%	11.0%	-4.2%	35.4%	42.1%	12.0%
PAT Growth TTMPAT Gr TTM%	19.7%	15.4%	-1.5%	8.4%	7.7%	8.9%	24.0%

	ADANIPOWER	NTPC	ADANIGREEN	TATAPOWER	JSWENERGY	NTPCGREEN	NHPC
Market CapitalizationMkt CapCr	3,74,277	2,99,627	2,13,342	1,12,556	88,411	73,874	71,018
Close PriceClose₹	194.08	309.00	1,295.20	352.25	482.20	87.67	70.70
IndustryIndustry	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution	Power Generation and Distribution
Price To EarningsPE	26.26	10.79	124.06	29.14	43.02	123.48	20.03
Price To SalesPS	6.34	1.57	15.73	1.77	4.66	22.49	5.82
RevenueRevenueCr	59,033	1,91,059	13,559	63,445	18,965	3,285	12,210
Revenue Growth TTMRev Gr TTM%	6.6%	2.4%	11.0%	-4.2%	35.4%	42.1%	12.0%
PAT Growth TTMPAT Gr TTM%	19.7%	15.4%	-1.5%	8.4%	7.7%	8.9%	24.0%

FY2026

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Jun 26