🔍

ADANIPOWER - Adani Power

📊 NSE: ADANIPOWER 🏢 Power Generation And Supply 📅 Last Updated: 12/13/2025 17:50

📢 Recent Corporate Announcements

Adani Power FY26 Results: Board Approves Audited Financials; Re-appoints Anil Sardana as MD

🟡 NEUTRAL ⭐ 8/10

EARNINGS 📅 29 Apr 2026, 03:34 PM

Adani Power's Board has approved the audited financial results for the quarter and full year ending March 31, 2026, with statutory auditors issuing an unmodified opinion. A significant leadership update includes the re-appointment of Mr. Anil Sardana as Managing Director for a one-year term effective July 11, 2026. The company also appointed BDO India Services Private Limited as the new Internal Auditor, replacing the previous internal head due to organizational restructuring. The 30th Annual General Meeting is scheduled for June 25, 2026.

Board approved audited standalone and consolidated financial results for FY26 with an unmodified audit opinion.
Mr. Anil Sardana re-appointed as Managing Director for a 1-year term starting July 11, 2026.
BDO India Services Private Limited appointed as Internal Auditor in place of Mr. Harish Sharma.
Consolidated results include 17 subsidiaries with total assets of Rs. 26,446.39 crores as of March 31, 2026.
30th Annual General Meeting (AGM) scheduled for June 25, 2026, via Video Conferencing.

💡 Investors should review the detailed profit and loss statements for margin trends and operational efficiency. The re-appointment of the Managing Director provides leadership continuity which is generally positive for long-term strategy execution.

Adani Power Reschedules Q4FY26 Earnings Conference Call to April 30, 2026

🟡 NEUTRAL ⭐ 3/10

EARNINGS 📅 25 Apr 2026, 10:10 PM

Adani Power Limited has announced a rescheduling of its Q4FY26 earnings conference call with research analysts and institutional investors. Originally set for April 29, 2026, the call will now take place on April 30, 2026, at 11:00 a.m. IST. The session will be led by top management, including the CEO and CFO, to discuss the company's quarterly financial performance. This call provides a platform for investors to gain clarity on operational metrics and future growth strategies.

Earnings conference call rescheduled to April 30, 2026, at 11:00 a.m. IST
Key management participants include CEO Mr. Shersingh B Khyalia and CFO Mr. Dilip Jha
Universal access dial-in numbers are +91 22 6280 1144 and +91 22 7115 8045
International toll-free numbers provided for USA, UK, Singapore, and Hong Kong
The call follows the announcement of Q4FY26 financial results

💡 Investors interested in the company's performance should note the updated timing for the conference call to hear management's outlook. No immediate portfolio changes are necessary based on this administrative rescheduling.

Adani Power Schedules Q4FY26 Earnings Conference Call for April 29, 2026

🟡 NEUTRAL ⭐ 4/10

EARNINGS 📅 22 Apr 2026, 12:39 PM

Adani Power Limited has scheduled its Q4FY26 earnings conference call for April 29, 2026, at 5:00 PM IST. This follows the Board Meeting set for the same day to approve the financial results for the quarter and fiscal year. The call will be led by senior management, including CEO Shersingh B Khyalia and CFO Dilip Jha. This event is a key opportunity for investors to understand the company's year-end performance and future outlook.

Earnings conference call scheduled for April 29, 2026, at 17:00 hrs IST.
Board Meeting to approve Q4 and FY26 results is also confirmed for April 29, 2026.
Senior management representation includes the CEO, CFO, and Head of Investor Relations.
Universal access dial-in numbers provided are +91 22 6280 1144 and +91 22 7115 8045.

💡 Investors should monitor the financial results released on April 29 and listen to the management commentary regarding power demand trends and debt reduction progress.

Adani Power Incorporates Nuclear Energy Subsidiary Rawatbhata-Raj Atomic Energy

🟢 POSITIVE ⭐ 7/10

EXPANSION 📅 21 Apr 2026, 07:10 AM

Adani Power Limited has announced the incorporation of a new step-down wholly-owned subsidiary, Rawatbhata-Raj Atomic Energy Limited (RRAEL), through its subsidiary Adani Atomic Energy Limited. The new entity, incorporated on April 20, 2026, is dedicated to the generation, transmission, and distribution of power from nuclear and atomic energy sources. RRAEL has an initial authorized capital of Rs. 5,00,000, consisting of 50,000 equity shares at Rs. 10 each. This development marks a significant strategic step for Adani Power as it expands its footprint into the highly regulated nuclear energy sector.

Incorporation of Rawatbhata-Raj Atomic Energy Limited (RRAEL) as a step-down wholly-owned subsidiary on April 20, 2026.
The entity is focused on the generation, transmission, and distribution of power derived from nuclear and atomic energy.
Authorized capital of Rs. 5,00,000 divided into 50,000 equity shares of Rs. 10 each.
100% control is maintained by Adani Power through its subsidiary Adani Atomic Energy Limited.

💡 Investors should view this as a long-term strategic diversification into nuclear energy; however, they should monitor future regulatory approvals and capital allocation plans for this segment.

Adani Power Incorporates Coastal-Maha Atomic Energy for Nuclear Power Generation

🔵 WATCH ⭐ 6/10

EXPANSION 📅 19 Apr 2026, 09:25 PM

Adani Power Limited (APL) has announced the incorporation of a new step-down wholly-owned subsidiary, Coastal-Maha Atomic Energy Limited (CMAEL). The new entity is a subsidiary of Adani Atomic Energy Limited, which is itself a 100% subsidiary of APL. CMAEL is established to focus on the generation, transmission, and distribution of power derived from nuclear and atomic energy. This move signifies Adani Power's strategic entry into the highly regulated nuclear energy sector with an initial authorized capital of Rs. 5,00,000.

Incorporation of Coastal-Maha Atomic Energy Limited (CMAEL) on April 13, 2026
CMAEL is a 100% step-down subsidiary focused on nuclear and atomic energy generation
Initial authorized capital of Rs. 5,00,000 divided into 50,000 equity shares of Rs. 10 each
The entity will handle generation, transmission, and distribution of nuclear power
100% control remains with Adani Power through its subsidiary Adani Atomic Energy Limited

💡 Investors should monitor government policy shifts regarding private sector participation in nuclear energy, as this is a long-term strategic move. While the initial capital is small, it marks a significant diversification of Adani Power's energy portfolio.

Adani Power Receives ICRA AA/Stable Rating for Rs 69,000 Crore Facilities

🟢 POSITIVE ⭐ 7/10

ROUTINE 📅 17 Apr 2026, 08:41 PM

ICRA Limited has reaffirmed and assigned high-grade credit ratings to Adani Power Limited's total bank facilities and NCDs worth Rs 69,000 crore. The long-term facilities, including term loans of Rs 35,223.70 crore and NCDs of Rs 11,000 crore, have been rated ICRA AA with a Stable outlook. Short-term non-fund based facilities worth Rs 7,726.30 crore received the highest rating of ICRA A1+. This rating action reflects the company's stable credit profile and operational strength across its massive debt portfolio.

ICRA assigned/reaffirmed ICRA AA/Stable rating for long-term facilities totaling over Rs 61,000 crore
Short-term bank guarantees of Rs 7,726.30 crore assigned/reaffirmed the highest ICRA A1+ rating
Non-Convertible Debentures (NCDs) worth Rs 11,000 crore reaffirmed at ICRA AA/Stable
Total rated facilities covered under this disclosure amount to Rs 69,000 crore

💡 Investors should view this as a validation of Adani Power's debt servicing capabilities and financial stability. The high credit rating supports the company's ability to access capital at competitive rates.

Adani Power Secures 2500 MW RE RTC Power Supply Contract from MSEDCL for 25 Years

🟢 POSITIVE ⭐ 8/10

EXPANSION 📅 02 Apr 2026, 07:44 PM

Adani Power Limited has received a Letter of Award from Maharashtra State Electricity Distribution Co. Limited (MSEDCL) for the supply of 2500 MW of Renewable Energy Round-The-Clock (RE RTC) power. This long-term contract spans 25 years from the scheduled commencement date, providing significant long-term revenue visibility. The award was secured through a competitive e-Reverse Auction process. This development underscores Adani Power's capability to secure large-scale utility contracts and its growing role in the renewable energy transition.

Awarded a 2500 MW capacity contract for Renewable Energy Round-The-Clock (RE RTC) power supply.
The contract duration is fixed for 25 years from the Scheduled Commencement Date of Supply.
The contract was won through a competitive e-Reverse Auction (e-RA) conducted by MSEDCL.
The agreement ensures a steady, long-term domestic revenue stream from a major state utility.

💡 This contract provides excellent long-term earnings visibility and validates the company's competitive strength in the power sector. Investors should remain positive on the stock while monitoring the project's execution timelines and capital expenditure.

Adani Power Updates Key Managerial Personnel Contact Details for SEBI Compliance

🟡 NEUTRAL ⭐ 2/10

ROUTINE 📅 01 Apr 2026, 07:06 PM

Adani Power Limited has updated the contact details of its Key Managerial Personnel (KMP) as required under Regulation 30(5) of SEBI (LODR) Regulations, 2015. The authorized officials include the Managing Director, CEO, CFO, and Company Secretary, who are responsible for determining the materiality of events for stock exchange disclosures. This is a standard administrative update to ensure regulatory transparency and communication. The company has provided a centralized email (investor.apl@adani.com) and phone number (079-26567555) for these purposes. There is no impact on the company's financial or operational status.

Authorized KMPs include MD Anil Sardana and CEO Shersingh Khyalia for materiality determination.
CFO Dilip Kumar Jha and CS Puneet Bansal are also designated for regulatory disclosures.
Compliance filing made under Regulation 30(5) of SEBI Listing Obligations and Disclosure Requirements.
Centralized contact details provided: Phone 079-26567555 and Email investor.apl@adani.com.

💡 No action is required as this is a routine administrative disclosure. Investors should focus on upcoming quarterly results or major project updates for price-sensitive information.

CRISIL Assigns and Reaffirms 'AA/Stable' Rating for Adani Power's ₹69,000 Cr Facilities

🟢 POSITIVE ⭐ 7/10

REGULATORY 📅 31 Mar 2026, 05:16 PM

CRISIL Ratings has assigned a 'CRISIL AA/Stable' rating to Adani Power Limited's additional term loan facilities worth ₹12,000 Crore. The agency also reaffirmed the same rating for existing bank facilities of ₹46,000 Crore and proposed Non-Convertible Debentures of ₹11,000 Crore. The total rated facilities now aggregate to ₹69,000 Crore, reflecting the company's robust credit risk profile. This affirmation highlights Adani Power's strong market position and healthy business risk profile supported by high capacity and fuel tie-ups.

CRISIL assigned 'AA/Stable' rating to new term loan facilities worth ₹12,000 Crore
Reaffirmed 'AA/Stable' rating for existing bank facilities totaling ₹46,000 Crore
Reaffirmed 'AA/Stable' rating for proposed Non-Convertible Debentures worth ₹11,000 Crore
Total credit-rated facilities for the company now stand at ₹69,000 Crore
Rating reflects a robust credit risk profile and high degree of capacity and fuel tie-ups

💡 Investors should take this as a positive signal of the company's financial health and its ability to raise capital at competitive rates. The 'AA/Stable' rating for such a large debt volume indicates strong institutional confidence in Adani Power's operational stability.

Adani Power Announces Trading Window Closure from April 1, 2026

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 31 Mar 2026, 01:10 PM

Adani Power Limited has informed the exchanges that its trading window for dealing in company securities will be closed starting April 1, 2026. This action is in compliance with SEBI (Prohibition of Insider Trading) Regulations, 2015, ahead of the declaration of audited financial results for the year ending March 31, 2026. The window will remain closed for designated persons and their immediate relatives until 48 hours after the results are announced. This is a standard regulatory procedure followed by listed companies before quarterly or annual earnings releases.

Trading window closure effective from April 1, 2026, for the FY2026 year-end results.
The closure applies to all designated persons and their immediate relatives as per SEBI norms.
Trading window to reopen 48 hours after the public announcement of audited financial results.
The filing ensures compliance with the SEBI (Prohibition of Insider Trading) Regulations, 2015.

💡 This is a routine regulatory announcement and does not impact the company's fundamentals. Investors should monitor for the upcoming announcement of the FY2026 results date to assess financial performance.

Adani Power Secures High ESG Score of 80 with Care EDGE – ESG 1+ Rating

🟢 POSITIVE ⭐ 6/10

OTHER 📅 24 Mar 2026, 03:08 PM

Adani Power Limited has been assigned a robust ESG score of 80 by CARE ESG Ratings Limited, earning the "Care EDGE – ESG 1+" designation. This score reflects the company's relatively strong performance in environmental and governance metrics, which is significant given its operations in the high-impact thermal power sector. The rating was disclosed in compliance with SEBI's updated ESG reporting regulations. High ESG scores are increasingly vital for attracting institutional capital and improving the company's overall sustainability profile in the eyes of global investors.

CARE ESG Ratings Limited assigned an ESG score of 80 to Adani Power Limited.
The company achieved the top-tier "Care EDGE – ESG 1+" rating category.
The rating highlights strong environmental and governance performance within the thermal power industry.

💡 This rating enhances Adani Power's appeal to ESG-conscious institutional investors and may lead to improved access to capital. Investors should monitor if this high score translates into inclusion in global sustainability indices or lower borrowing costs.

Adani Power to Participate in Morgan Stanley India Industrials & Energy Seminar on March 24

🟡 NEUTRAL ⭐ 3/10

ROUTINE 📅 21 Mar 2026, 11:49 AM

Adani Power Limited has announced its participation in a virtual group meeting with investors and analysts scheduled for March 24, 2026. The event is part of the Morgan Stanley India Industrials & Energy Seminar, an equity-focused conference. The interaction is scheduled for one hour, from 2:00 p.m. to 3:00 p.m. local time. This is a routine disclosure under SEBI Regulation 30 to ensure transparency regarding institutional engagements.

Scheduled virtual group meeting with investors and analysts on March 24, 2026
Participation in the Morgan Stanley India Industrials & Energy Seminar
Meeting duration set for 60 minutes between 2:00 p.m. and 3:00 p.m.
Compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015

💡 Investors should monitor for any investor presentations or transcripts released after the meeting for updates on the company's growth strategy. No immediate trading action is required based on this routine scheduling announcement.

Adani Power to Acquire Power Assets from Jaiprakash Associates via NCLT Resolution Plan

🟢 POSITIVE ⭐ 8/10

M&A 📅 19 Mar 2026, 07:52 PM

Adani Power Limited (APL) has expressed in-principle interest to become an 'Implementing Entity' for acquiring power assets and investments from Jaiprakash Associates Limited (JAL). This follows the NCLT Allahabad bench's approval of a resolution plan submitted by Adani Enterprises Limited on March 17, 2026. The move allows APL to strategically expand its generation portfolio by taking over assets from the debt-laden JAL. The acquisition remains subject to necessary regulatory approvals and final implementation steps.

NCLT Allahabad bench approved the resolution plan for Jaiprakash Associates on March 17, 2026
Adani Power expressed interest to acquire specific power assets and investments from JAL
Adani Enterprises Limited, the original resolution applicant, can nominate APL as an implementing entity
The acquisition is part of the Corporate Insolvency Resolution Process (CIRP) under the IBC 2016

💡 Investors should view this as a positive step toward inorganic capacity expansion, though they should wait for specific details on the valuation and capacity of the assets being acquired. Monitor for further updates on regulatory approvals and the impact on the company's debt-to-equity ratio.

Adani Power Appoints Puneet Bansal as Company Secretary Effective April 1, 2026

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 17 Mar 2026, 07:58 PM

Adani Power Limited has announced a transition in its Key Managerial Personnel with the appointment of Mr. Puneet Bansal as Company Secretary and Compliance Officer, effective April 1, 2026. He will succeed Mr. Deepak S Pandya, who is set to retire on March 31, 2026, after a successful decade-long tenure since August 2015. Mr. Bansal is a seasoned professional with over 30 years of experience in corporate governance and M&A, having served as the Adani Group's Head of Governance since 2021. This planned succession ensures continuity in the company's regulatory and compliance functions.

Mr. Puneet Bansal appointed as Company Secretary and Compliance Officer effective April 1, 2026.
Outgoing officer Mr. Deepak S Pandya to retire on March 31, 2026, after serving since August 2015.
Incoming officer Mr. Bansal brings over 30 years of experience from roles at Pidilite, Grasim, and KPIT.
Mr. Bansal has been the Adani Group Head of Governance & Secretarial since 2021.
The Board of Directors approved the transition in a meeting held on March 17, 2026.

💡 This is a routine management succession involving a highly experienced internal candidate. No immediate action is required as the transition appears well-planned and unlikely to impact operations.

Adani Power Appoints Puneet Bansal as Company Secretary; Deepak Pandya to Retire

🟡 NEUTRAL ⭐ 3/10

MANAGEMENT 📅 17 Mar 2026, 07:56 PM

Adani Power Limited has announced a transition in its Key Managerial Personnel (KMP) as Mr. Deepak S. Pandya will retire as Company Secretary and Compliance Officer on March 31, 2026. Mr. Pandya has served the company for over 10 years since his appointment in August 2015. He will be succeeded by Mr. Puneet Bansal, effective April 1, 2026. Mr. Bansal is a seasoned professional with over 30 years of experience in corporate governance and legal affairs, having previously worked with firms like Pidilite and Grasim Industries.

Mr. Deepak S. Pandya to retire as Company Secretary and Compliance Officer effective March 31, 2026.
Mr. Puneet Bansal appointed as the new CS and Compliance Officer starting April 1, 2026.
Outgoing officer Mr. Pandya completed a tenure of over 10 years with the company.
Incoming officer Mr. Bansal brings over 30 years of experience in legal, M&A, and corporate governance.
Mr. Bansal has been with the Adani Group since 2021 as Group Head – Governance & Secretarial.

💡 This is a routine management transition due to retirement and does not affect the company's operational or financial performance. No immediate action is required.

View All ADANIPOWER Announcements on Live Market Tracking →

💰 Financial Performance

Revenue Growth by Segment

Consolidated Continuing Total Revenues grew 11% YoY to INR 56,473 Cr in FY 2024-25. Q2 FY26 continuing revenue was INR 13,639 Cr, slightly higher than INR 13,465 Cr in Q2 FY25. Total Income decreased 2.3% to INR 58,906 Cr due to lower prior-period revenue recognition.

Geographic Revenue Split

Not specifically disclosed by percentage, but the company operates a pan-India portfolio with 15% share of coal-based installations in host states and significant presence in major power-consuming regions.

Profitability Margins

EBITDA Margin was 41% in FY 2024-25 (down from 47% in FY 2023-24). PAT Margin was 22% in FY 2024-25 (down from 35% in FY 2023-24). Return on Equity (ROE) was 22% in FY 2024-25 vs 48% in FY 2023-24.

EBITDA Margin

Consolidated Continuing EBITDA for FY 2024-25 was INR 21,575 Cr, up 15% from INR 18,789 Cr in FY 2023-24. The margin remains the highest in the thermal sector at 38-41%.

Capital Expenditure

Adani Portfolio has a cumulative capex of INR 451,000 Cr for FY20-FY25. APL plans to fund the majority of its expansion to 42 GW by 2032 through internal accruals.

Credit Rating & Borrowing

AA rated by four leading domestic rating agencies. Ratio of net external debt to operating EBITDA improved to 1.4x as of March 2025 from 3.3x in March 2023. Senior Debt Interest Coverage Ratio was 6.65x in FY 2024-25.

⚙️ Operational Drivers

Raw Materials

Thermal Coal (Domestic and Imported). Fuel Supply Agreements (FSAs) account for 57% of coal-based generation capacity (81% of domestic fuel).

Import Sources

Domestic sources (India) via FSAs and overseas coal mining (Adani Group presence in international markets).

Key Suppliers

Coal India (via FSAs), Adani Group (Overseas mines), and Adani Logistics for end-to-end logistics management.

Capacity Expansion

Current installed capacity is 18 GW (over 17 GW operational). Planned expansion to 30.67 GW in the medium term and 42 GW by 2032. 100% of BTG sets for 23,720 MW brownfield/greenfield projects have been ordered.

Raw Material Costs

Fuel prices decreased in FY 2024-25, which led to lower change-in-law revenue recovery but supported higher continuing EBITDA. Inventory to fuel cost ratio improved to 29 days from 44 days.

Manufacturing Efficiency

Consistent 90%+ plant availability maintained over many years; 62% of the fleet utilizes supercritical technology for higher efficiency.

Logistics & Distribution

Logistics assurance is provided through Adani Logistics, leveraging decades of in-house coal sourcing and end-to-end management experience.

📈 Strategic Growth

Expected Growth Rate

133%

Growth Strategy

Capacity expansion from 18 GW to 42 GW by 2032 using a brownfield-heavy model (60% of upcoming capacity). Strategy includes 100% land availability, pre-bid tie-ups for equipment, and funding through internal accruals and debt capital markets.

Products & Services

Thermal Power (Electricity) sold under long-term and medium-term PPAs and in the merchant market.

Brand Portfolio

Adani Power.

New Products/Services

Recent 1 GW of PPA awards and upcoming commissioning of new capacities from the next financial year onwards.

Market Expansion

Targeting a 42 GW capacity by 2032 to increase market share in the thermal power sector and enhance India's energy security.

Market Share & Ranking

India's largest private thermal power producer with over 17 GW installed capacity.

Strategic Alliances

JV with EdgeConnex (AdaniConneX) for data centers; strategic partnership with PTSL (Adani Power Trading) for merchant power sales.

🌍 External Factors

Industry Trends

India is the fastest-growing large economy; thermal power remains critical for base load energy security despite the shift toward renewables.

Competitive Landscape

Key competitors include other private IPPs and state-owned utilities; APL maintains a competitive edge through its modern supercritical fleet (62%).

Competitive Moat

Durable advantages include scale (largest private producer), integrated logistics (Adani Logistics), and 80%+ revenue visibility through long-term PPAs. Moat is sustainable due to brownfield cost advantages.

Macro Economic Sensitivity

Highly sensitive to India's GDP growth (6.7% CAGR) and industrial power demand. Subdued demand in Q2 FY26 due to weather conditions impacted revenue growth.

Consumer Behavior

Rising energy demand across India driven by industrialization and indigenous digital stack development.

Geopolitical Risks

Ambition to establish a presence in the international energy market; reliance on overseas coal sourcing exposes the company to global fuel price volatility.

⚖️ Regulatory & Governance

Industry Regulations

CERC regulations govern trading margins for PTSL; SEBI RPT standards (effective Sept 2025) require Audit Committee and shareholder approval for transactions like the INR 4,500 Cr PTSL agreement.

Environmental Compliance

ESG ratings and inclusion in the FTSE4Good Index Series; commitment to minimizing greenhouse gas emissions.

Legal Contingencies

Resolution of all major regulatory matters and realization of outstanding dues from DISCOMs contributed INR 2,433 Cr to revenue in FY 2024-25.

⚠️ Risk Analysis

Key Uncertainties

Reputational risks due to governance scrutiny could hinder fundraising; merchant power demand and tariff volatility (16% untied capacity) impact margin stability.