Adani Power

₹634.7 -9.2 | 1.4%

WEBSITE BSE:533096 NSE : ADANI POWER 06 Sep, 16:03

Market Cap ₹244800 Cr.

Stock P/E 15.3

P/B 5.8

Current Price ₹634.7

Book Value ₹ 108.6

Face Value 10

52W High ₹896.8

Dividend Yield 0%

52W Low ₹ 289.3

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.)
Net Sales
Other Income
Total Income
Total Expenditure
Operating Profit
Interest
Depreciation
Exceptional Income / Expenses
Profit Before Tax
Provision for Tax
Profit After Tax
Adjustments
Profit After Adjustments
Adjusted Earnings Per Share

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
Net Sales	10853	10625	12875	10868	8121	2404	1005	447	27711	36681	39205
Other Income	621	412	523	735	463	1066	911	134	4068	4520	10192
Total Income	11474	11037	13398	11603	8584	3470	1916	582	31780	41201	49396
Total Expenditure	7275	8163	9349	9611	7244	2418	1044	408	17874	27362	25384
Operating Profit	4199	2874	4049	1993	1340	1052	872	173	13905	13839	24012
Interest	3339	2498	2951	3102	2008	1239	1175	644	4087	3307	2466
Depreciation	1188	881	1137	1121	861	38	35	32	3116	3143	3176
Exceptional Income / Expenses	0	212	0	-3908	1505	0	-1003	0	0	0	0
Profit Before Tax	-327	-293	-39	-6138	-24	-225	-1341	-503	6702	7389	18371
Provision for Tax	-1061	0	-136	-83	0	0	0	-4	1666	-2857	-379
Profit After Tax	733	-293	97	-6054	-24	-225	-1341	-499	5036	10246	18749
Adjustments	-138	224	0	0	0	0	0	0	0	0	0
Profit After Adjustments	595	-69	97	-6054	-24	-225	-1341	-499	5036	10246	18749
Adjusted Earnings Per Share	2.6	-1	0.3	-15.7	-0.1	-0.6	-3.5	-1.3	13.1	26.6	48.6

Growth Rates

#	1 Year	3 Year	5 Year	10 Year
Sales CAGR	7%	344%	75%	14%
Operating Profit CAGR	74%	418%	87%	19%
PAT CAGR	83%	0%	0%	38%

#	1 Year	3 Year	5 Year	10 Year
Share Price CAGR	83%	86%	61%	29%
ROE Average	55%	43%	21%	2%
ROCE Average	33%	26%	15%	10%

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	7787	7716	9024	4673	9539	9128	7175	17085	18464	28224	39448
Minority's Interest	0	0	0	0	0	0	0	0	0	0	0
Borrowings	17603	16703	14720	17227	2244	16375	11728	931	30462	24979	18886
Other Non-Current Liabilities	653	138	3768	3328	58	53	208	228	7223	4705	4046
Total Current Liabilities	12740	13175	18035	16533	7866	3372	3419	6164	15617	14924	12416
Total Liabilities	38784	37731	45547	41762	19707	28928	22530	24408	71766	72832	74796
Fixed Assets	24467	20111	23797	22718	642	603	570	541	49342	46583	43839
Other Non-Current Assets	10123	12008	14154	15199	15693	28158	21482	22967	6874	9051	10306
Total Current Assets	4084	5543	7596	3845	3372	167	478	112	15550	17198	20651
Total Assets	38784	37731	45547	41762	19707	28928	22530	24408	71766	72832	74796

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	79	81	79	43	53	0	4	7	107	575	194
Cash Flow from Operating Activities	3386	2393	1869	659	-333	-167	95	-288	10264	7933	14841
Cash Flow from Investing Activities	-31	-2575	-3236	-555	-3513	-8285	6816	390	1386	2824	1086
Cash Flow from Financing Activities	-3353	180	1330	-95	3845	8457	-6907	-105	-11182	-11138	-15561
Net Cash Inflow / Outflow	2	-2	-37	10	0	4	3	-3	468	-381	367
Closing Cash & Cash Equivalent	81	79	43	53	0	4	7	4	575	194	560

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)	2.55	-1.02	0.29	-15.7	-0.06	-0.58	-3.48	-1.29	13.06	26.57	48.61
CEPS(Rs)	6.69	2.05	3.7	-12.79	2.17	-0.49	-3.39	-1.21	21.14	34.71	56.85
DPS(Rs)	0	0	0	0	0	0	0	0	0	0	0
Book NAV/Share(Rs)	26.73	26.63	27.07	12.12	24.73	23.67	18.6	44.3	47.87	73.18	102.28
Core EBITDA Margin(%)	32.97	23.17	27.39	11.57	10.8	-0.57	-3.82	8.74	35.5	25.41	35.25
EBIT Margin(%)	27.75	20.75	22.62	-27.94	24.43	42.17	-16.45	31.53	38.93	29.16	53.15
Pre Tax Margin(%)	-3.02	-2.75	-0.31	-56.47	-0.29	-9.37	-133.35	-112.49	24.18	20.14	46.86
PAT Margin (%)	6.76	-2.75	0.75	-55.71	-0.29	-9.37	-133.35	-111.53	18.17	27.93	47.82
Cash Profit Margin (%)	17.7	5.54	9.58	-45.4	10.31	-7.79	-129.89	-104.27	29.42	36.5	55.92
ROA(%)	1.91	-0.77	0.23	-13.87	-0.08	-0.93	-5.21	-2.13	10.47	14.17	25.4
ROE(%)	12.02	-3.82	1.16	-88.4	-0.33	-2.41	-16.45	-4.11	28.33	43.89	55.41
ROCE(%)	9.18	6.84	8.62	-8.93	7.77	4.25	-0.66	0.63	26.24	17.84	33.04
Receivable days	15.97	29.61	94.73	117.19	40.14	4.1	68.82	153.64	62.56	103.84	84.15
Inventory Days	36.4	32.35	25.7	32.17	26.06	5.98	1.48	2.69	14.56	22.55	26.99
Payable days	0	0	0	0	-8335.24	822.39	0	0	0	0	0
PER(x)	19.05	0	119.65	0	0	0	0	0	14.17	7.21	10.98
Price/Book(x)	1.82	1.78	1.28	3.3	0.96	2.04	1.49	1.92	3.87	2.62	5.22
Dividend Yield(%)	0	0	0	0	0	0	0	0	0	0	0
EV/Net Sales(x)	3.58	3.49	2.96	3.9	2.28	15.79	24.84	87.22	3.96	2.86	5.76
EV/Core EBITDA(x)	9.25	12.92	9.42	21.25	13.82	36.08	28.63	224.83	7.89	7.59	9.4
Net Sales Growth(%)	71.37	-2.1	21.18	-15.59	-25.28	-70.39	-58.18	-55.52	6097.01	32.37	6.88
EBIT Growth(%)	665.49	-26.78	32.06	-204.27	165.36	-48.91	-116.31	185.29	7551.09	-0.86	94.8
PAT Growth(%)	142.88	-139.91	132.98	-6371.33	99.61	-847.54	-495.2	62.8	1109.81	103.44	82.99
EPS Growth(%)	135.73	-139.91	128.42	-5520.34	99.61	-848.05	-495.15	62.8	1109.81	103.44	82.99
Debt/Equity(x)	3.29	3.13	2.99	5.84	1	2.14	2	0.37	2.19	1.16	0.65
Current Ratio(x)	0.32	0.42	0.42	0.23	0.43	0.05	0.14	0.02	1	1.15	1.66
Quick Ratio(x)	0.25	0.35	0.38	0.17	0.43	0.05	0.14	0.02	0.85	1	1.38
Interest Cover(x)	0.9	0.88	0.99	-0.98	0.99	0.82	-0.14	0.22	2.64	3.23	8.45
Total Debt/Mcap(x)	1.81	1.76	2.34	1.77	1.05	1.05	1.34	0.19	0.57	0.44	0.12

Adani Power Shareholding Pattern

#	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoter	74.97	74.97	74.97	74.97	74.97	74.97	70.02	71.75	71.75	72.71
FII	11.31	12.53	13.23	12.88	11.7	11.95	17.51	15.86	15.91	14.73
DII	5.56	5.03	0	0	0.01	0.04	0.76	1.18	1.41	1.43
Public	8.15	7.47	11.8	12.15	13.32	13.04	11.72	11.2	10.93	11.13
Others	0	0	0	0	0	0	0	0	0	0
Total	100	100	100	100	100	100	100	100	100	100

#	Mar 2022	Jun 2022	Sep 2022	Dec 2022	Mar 2023	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024
Promoter	289.16	289.16	289.16	289.16	289.16	289.16	270.06	276.74	276.74	280.42
FII	43.64	48.34	51.01	49.68	45.11	46.08	67.53	61.18	61.35	56.81
DII	21.45	19.4	0.01	0.01	0.05	0.16	2.91	4.56	5.45	5.52
Public	31.45	28.8	45.51	46.85	51.37	50.29	45.19	43.21	42.15	42.94
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 43%
Company has reduced debt.

Cons

Though the company is reporting repeated profits, it is not paying out dividend.
Stock is trading at 5.8 times its book value.
Earnings include an other income of Rs. 10192 Cr.

* 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.