| Revenue growth | Continuing revenue +28.5% YoY Q2; +27.5% H1. |
|---|---|
| Margins | Continuing EBITDA margin 36.1% vs 39.1% YoY; fuel costs rose. |
| Order book | Ongoing long-term thermal PPA bids 16,660 MW. |
| Demand visibility | 95%+ operating capacity PPA-tied; 14,640 MW new PPAs locked-in. |
Growth
Continuing revenue +28.5% on PPA volumes (+11.4%) and tariffs (₹6.4/unit, +12.7%); merchant realisation ₹7.2/unit (+33.1%).
Outlook
23.7 GW expansion to 45 GW by FY32 (~₹2 trillion capex); 16.6 GW thermal bids ongoing; 10 GW nuclear by 2035.
Risks
Fuel cost +41.8% YoY; merchant volumes 3.2 BU vs 5.6 BU; net debt ₹45,846 Cr; one-time income flatters reported figures.
Last quarter's promises, checked
Delivered
- Guided 13,320 MW new PPAs → delivered 14,640 MW (= BEAT)
- Guided ~16,380 MW ongoing LT bids → 16,660 MW pipeline (= BEAT)
Missed
- Guided ≥90% plant availability → FY26 88% (= MISS)
Investor Presentation filed with BSE, NSE: ADANIPOWER. Summary written with AI assistance from the document.
Adani Power Ltd: key numbers
- Share price
- ₹184.59
- Market cap
- ₹3,55,976 Cr
- Revenue (annual)
- ₹54,241 Cr
- Net profit (annual)
- ₹12,834 Cr
- P/E (TTM)
- 19.5×Sector 21.4×
- Promoter holding
- 74.96%+0.00% QoQ
- FII holding
- 11.03%Current quarter
Reference market data from a third-party provider, updated daily. Not a valuation or a recommendation.
More from Adani Power Ltd
All →Adani Power Earnings Call Transcript: Key Takeaways
Adani Power delivered record Q2 results driven by robust demand and high plant availability. One-time revenue from Gujarat PPA and operational efficiency significantly boosted PAT.
Adani Power Q2 FY27 Results: Net Profit ₹7,019 Cr, Up 141.5% YoY
Adani Power Ltd reported revenue from operations of ₹19,439 Cr (+44.5% YoY) and net profit of ₹7,019 Cr (+141.5% YoY) for Q2 FY27.
- Key figure
- Net profit ₹7,019 Cr · +141.5% YoY
Adani Power Bags New Order from Uttarakhand Power Corporation Limited
Adani Power received a Letter of Award from UPCL for 1,234 MW thermal power supply over 25 years. The LOA is subject to Uttarakhand ERC tariff approval.
- From
- Uttarakhand Power Corporation Limited (UPCL)
- Execution
- 25 years
- thermal power ex-bus net supply
- 1234 MW
Adani Power Capital Structure Change
GQG Partners LLC and PACs disclosed a net sale of Adani Power shares, reducing stake from 5.74% to 5.72%. The open-market disposal crosses the 2% disclosure threshold.
Adani Power Other Announcement
Adani Power Ltd has filed its quarterly shareholding pattern for the period ended September 30, 2026, as required by SEBI regulations.
Adani Power Merger & Restructuring
Adani Power signed a shareholders agreement with Druk Green Power Corp. to jointly incorporate a public company in Bhutan for the 770 MW Chamkharchhu Hydropower Project.
- From
- Druk Green Power Corp. Ltd.
- Execution
- 6 years from ground-breaking
- hydropower capacity
- 770.0 MW