Adani Power

₹507.2 11.2 | 2.2%

WEBSITE BSE:533096 NSE : ADANI POWER 26 Dec, 16:01

Market Cap ₹195624 Cr.

Stock P/E 9.4

P/B 3.5

Current Price ₹507.2

Book Value ₹ 145.1

Face Value 10

52W High ₹896.8

Dividend Yield 0%

52W Low ₹ 430.9

Edit Ratio

Adani Power Research see more...

Overview Inc. Year: 1996Industry: Power Generation/Distribution

Adani Power Ltd is a holding company. The Company is engaged in offering electric power generation via coal-based thermal energy plants and coal buying and selling. Its enterprise activity is undertaken at Mundra Thermal Power Plant of the Company in Gujarat and Thermal Power Plant of its subsidiaries at Tiroda (Maharashtra), at Kawai (Rajasthan) and at Udupi (Karnataka). It has approximately 5 power projects. It focuses to promote the power generated from those projects under a mixture of long term Power Purchase Agreements and on service provider basis. Its subsidiaries are Adani Power Maharashtra Ltd, Adani Power Rajasthan Ltd, Udupi Power Corporation Ltd and Adani Power Resources Ltd.

Adani Power Share Price

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Peer Comparison

Adani Power Quarterly Results

#(Fig in Cr.)	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Net Sales	13723	7044	7764	10242	11006	12991	12991	13364	14956	13339
Other Income	1786	1402	526	553	7103	1945	364	518	518	724
Total Income	15509	8446	8290	10795	18109	14936	13355	13882	15474	14063
Total Expenditure	8003	6096	6295	8335	7491	7819	8346	8514	8761	8063
Operating Profit	7506	2350	1996	2461	10618	7116	5009	5368	6713	6000
Interest	823	818	946	746	883	888	797	820	811	807
Depreciation	816	833	838	817	935	1004	1002	990	996	1059
Exceptional Income / Expenses	0	0	0	0	0	0	0	0	0	0
Profit Before Tax	5866	699	212	898	8800	5224	3210	3558	4906	4134
Provision for Tax	1086	3	203	-4345	40	-1371	472	821	993	837
Profit After Tax	4780	696	9	5242	8759	6594	2738	2737	3913	3298
Adjustments	0	0	0	0	0	0	0	0	0	34
Profit After Adjustments	4780	696	9	5242	8759	6594	2738	2737	3913	3332
Adjusted Earnings Per Share	12.4	1.8	0	13.6	22.7	17.1	7.1	7.1	10.1	8.6

Adani Power Profit & Loss

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	TTM
Net Sales	15464	19545	25532	22616	20304	23884	26468	26221	27711	38773	50351	54650
Other Income	231	246	202	419	789	2477	1374	1928	3975	4267	9930	2124
Total Income	15695	19791	25734	23034	21093	26362	27842	28150	31686	43041	60281	56774
Total Expenditure	10871	13708	16730	16644	14903	18930	20782	17553	17897	28729	32171	33684
Operating Profit	4825	6083	9004	6391	6190	7431	7059	10597	13789	14312	28111	23090
Interest	4162	5369	5963	5902	5570	5657	5315	5106	4095	3334	3388	3235
Depreciation	1937	2061	2666	2672	2699	2751	3007	3202	3118	3304	3931	4047
Exceptional Income / Expenses	0	-17	0	-4077	0	0	-1003	0	0	0	0	0
Profit Before Tax	-1275	-1364	375	-6260	-2079	-976	-2265	2289	6577	7675	20792	15808
Provision for Tax	-1079	0	-176	-86	-5	9	10	1019	1666	-3052	-37	3123
Profit After Tax	-196	-1364	551	-6174	-2074	-984	-2275	1270	4912	10727	20829	12686
Adjustments	-95	548	0	0	-29	0	0	0	0	0	0	34
Profit After Adjustments	-291	-816	551	-6174	-2103	-984	-2275	1270	4912	10727	20829	12720
Adjusted Earnings Per Share	-1	-2.8	1.7	-16	-5.5	-2.6	-5.9	3.3	12.7	27.8	54	32.9

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	30%	24%	16%	13%
Operating Profit CAGR	96%	38%	30%	19%
PAT CAGR	94%	154%	0%	0%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	-1%	72%	53%	28%
ROE Average	57%	44%	31%	-38%
ROCE Average	32%	21%	16%	11%

Adani Power Balance Sheet

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Shareholder's Funds	6543	5725	7468	3000	889	-288	-2135	13113	18703	29876	43145
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	33131	35090	35418	36651	34560	44410	53181	39957	37871	33703	26595
Other Non-Current Liabilities	780	224	6868	6204	6055	5702	5789	7009	8263	4498	6420
Total Current Liabilities	18289	17441	26046	25666	28045	18163	18201	18727	17144	17745	15789
Total Liabilities	58744	58479	75799	71520	69549	67988	75037	78806	81981	85821	91948
Fixed Assets	46365	45080	56941	54391	52137	50419	55846	52851	53274	50746	63016
Other Non-Current Assets	5095	2848	2633	3594	3448	4363	4586	8312	12479	15522	3346
Total Current Assets	7104	10392	16225	13535	13963	13202	14605	16849	16228	19553	25587
Total Assets	58744	58479	75799	71520	69549	67988	75037	78806	81981	85821	91948

Adani Power Cash Flow

#(Fig in Cr.)	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Opening Cash & Cash Equivalents	143	312	255	107	81	62	25	941	113	782	349
Cash Flow from Operating Activities	3238	5824	5257	4725	5101	5610	5598	7014	10233	8431	14170
Cash Flow from Investing Activities	-4700	-4737	-3688	-1212	-520	-984	-2328	-2188	572	1544	3485
Cash Flow from Financing Activities	1631	-1144	-2713	-3539	-4600	-4663	-2377	-5655	-10338	-10408	-16864
Net Cash Inflow / Outflow	169	-57	-1144	-26	-19	-37	892	-828	467	-434	791
Closing Cash & Cash Equivalent	312	255	107	81	62	25	941	113	782	349	1136

Adani Power Ratios

#	Mar 2014	Mar 2015	Mar 2016	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024
Earnings Per Share (Rs)	-1.01	-2.84	1.65	-16.01	-5.45	-2.55	-5.9	3.29	12.73	27.81	54
CEPS(Rs)	6.06	2.43	9.65	-9.08	1.62	4.58	1.9	11.59	20.82	36.38	64.2
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	22.16	19.38	22.4	7.78	2.31	-0.75	-5.53	34	48.49	77.46	111.86
Core EBITDA Margin(%)	29.7	29.87	34.47	26.41	26.6	20.74	21.48	33.06	35.42	25.91	36.11
EBIT Margin(%)	18.67	20.49	24.82	-1.58	17.19	19.6	11.52	28.2	38.51	28.39	48.02
Pre Tax Margin(%)	-8.24	-6.98	1.47	-27.68	-10.24	-4.09	-8.56	8.73	23.73	19.79	41.29
PAT Margin (%)	-1.27	-6.98	2.16	-27.3	-10.21	-4.12	-8.59	4.84	17.72	27.67	41.37
Cash Profit Margin (%)	11.26	3.57	12.6	-15.48	3.08	7.39	2.76	17.05	28.97	36.19	49.17
ROA(%)	-0.35	-2.33	0.82	-8.38	-2.94	-1.43	-3.18	1.65	6.11	12.78	23.43
ROE(%)	-3.72	-22.86	8.45	-117.97	-106.65	-327.25	0	23.14	30.87	44.16	57.05
ROCE(%)	5.99	7.95	11.47	-0.62	6.39	8.63	5.24	11.63	16.05	15.77	32.3
Receivable days	27.16	46.99	114.12	162.85	123.81	111.72	116.65	140.63	140.94	99.27	84.11
Inventory Days	33.48	27.17	23.22	27.27	23.68	16.03	25.84	31.65	28.21	25.1	26.16
Payable days	0	0	0	0	0	0	0	0	0	0	0
PER(x)	0	0	20.97	0	0	0	0	25.83	14.53	6.89	9.88
Price/Book(x)	2.2	2.44	1.55	5.14	10.3	-64.62	-5.01	2.5	3.82	2.47	4.77
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	3.7	2.94	2.48	2.98	3.01	3.04	2.74	3.19	4.25	2.95	4.63
EV/Core EBITDA(x)	11.87	9.45	7.04	10.53	9.88	9.78	10.28	7.89	8.54	7.98	8.29
Net Sales Growth(%)	128.1	26.39	30.63	-11.42	-10.22	17.63	10.82	-0.93	5.68	39.92	29.86
EBIT Growth(%)	2602.83	38.73	58.23	-105.66	1074.03	34.07	-34.84	142.47	44.31	3.15	119.65
PAT Growth(%)	91.46	-596.06	140.39	-1220.93	66.41	52.53	-131.08	155.83	286.74	118.39	94.18
EPS Growth(%)	89.45	-180.72	158.17	-1068.93	65.94	53.19	-131.08	155.83	286.75	118.4	94.18
Debt/Equity(x)	6.94	8.04	7.06	17.5	59.41	-191.09	-29.9	4	2.61	1.41	0.8
Current Ratio(x)	0.39	0.6	0.62	0.53	0.5	0.73	0.8	0.9	0.95	1.1	1.62
Quick Ratio(x)	0.32	0.51	0.56	0.46	0.47	0.66	0.66	0.79	0.81	0.93	1.36
Interest Cover(x)	0.69	0.75	1.06	-0.06	0.63	0.83	0.57	1.45	2.61	3.3	7.14
Total Debt/Mcap(x)	3.16	3.29	4.56	3.41	5.77	2.96	5.96	1.6	0.68	0.57	0.17

Adani Power Shareholding Pattern

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	74.97	74.97	74.97	74.97	74.97	70.02	71.75	71.75	72.71	74.96
FII	12.53	13.23	12.88	11.7	11.95	17.51	15.86	15.91	14.73	12.66
DII	5.03	0	0	0.01	0.04	0.76	1.18	1.41	1.43	1.53
Public	7.47	11.8	12.15	13.32	13.04	11.72	11.2	10.93	11.13	10.85
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024
Promoter	289.16	289.16	289.16	289.16	289.16	270.06	276.74	276.74	280.42	289.11
FII	48.34	51.01	49.68	45.11	46.08	67.53	61.18	61.35	56.81	48.83
DII	19.4	0.01	0.01	0.05	0.16	2.91	4.56	5.45	5.52	5.92
Public	28.8	45.51	46.85	51.37	50.29	45.19	43.21	42.15	42.94	41.83
Others	0	0	0	0	0	0	0	0	0	0
Total	385.69	385.69	385.69	385.69	385.69	385.69	385.69	385.69	385.69	385.69

Pros

Company has a good return on equity (ROE) track record: 3 Years ROE 44%
Company has reduced debt.

Cons

Though the company is reporting repeated profits, it is not paying out dividend.
Stock is trading at 3.5 times its book value.

* The pros and cons are machine generated. Pros / cons are based on a checklist to highlight important points. Please exercise caution and do your own analysis.