Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
post
Last Updated: April 2, 2026, 2:33 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 533096 | NSE: ADANIPOWER

Adani Power Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹170.36Fairly Valued by 8.51%vs CMP ₹157.00

P/E (26.4) × ROE (26.1%) × BV (₹30.30) × DY (2.00%)

₹94.31Overvalued by 39.93%vs CMP ₹157.00
MoS: -66.5% (Negative)Confidence: 63/100 (Moderate)Models: 1 Under, 8 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹201.8223%Under (+28.5%)
Graham NumberEarnings₹63.6917%Over (-59.4%)
Earnings PowerEarnings₹34.3011%Over (-78.2%)
DCFCash Flow₹110.4111%Over (-29.7%)
Net Asset ValueAssets₹30.297%Over (-80.7%)
EV/EBITDAEnterprise₹81.549%Over (-48.1%)
Earnings YieldEarnings₹59.507%Over (-62.1%)
ROCE CapitalReturns₹56.797%Over (-63.8%)
Revenue MultipleRevenue₹29.126%Over (-81.5%)
Consensus (9 models)₹94.31100%Overvalued
Key Drivers: Wide model spread (₹29–₹202) — high uncertainty.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 18.5%

*Investments are subject to market risks

Investment Snapshot

66
Adani Power Ltd scores 66/100 (Average)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health69/100 · Strong
ROCE 22.5% ExcellentROE 26.1% ExcellentD/E 99.58 High debtInterest Coverage 0.0x RiskyProfitable 5/5 years Consistent
Smart Money65/100 · Strong
FII holding stable No changeDII holding up 1.77% MF buyingPromoter holding at 75.0% Stable
Earnings Quality65/100 · Strong
OPM expanding (31% → 37%) Improving
Quarterly Momentum40/100 · Moderate
Revenue (4Q): -2% YoY FlatProfit (4Q): -12% YoY Declining
Industry Rank100/100 · Strong
P/E 26.4 vs industry 41.9 Cheaper than peersROCE 22.5% vs industry 9.0% Above peersROE 26.1% vs industry 11.7% Above peers3Y sales CAGR: 27% High growth

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily. Not investment advice.

Adani Power Ltd Investor Signals

Computed from valuation, cash flow, balance sheet, ownership and quarterly trend data already available in this stock page.

Value Trap Score
60/100
Moderate
Derived from: Cheapness + weak quality + weak cash support
Current data: P/E 26.4 vs Ind 41.9 | ROCE 22.5% | ROE 26.1% | CFO/NP N/A
Balance Sheet Stress
70/100
Stressed
Derived from: Leverage + debt servicing + liquidity + debt trend
Current data: D/E 99.58x | IntCov 0.0x | Current 0.94x | Borrow/Reserve 0.89x
Cash Flow Reliability
29/100
Weak
Derived from: Cash backing of earnings + working capital pressure
Current data: CFO ₹0 Cr | NP ₹12,750 Cr | CFO/NP N/A
Ownership Accumulation
+50
Accumulation
Derived from: FII + DII + promoter direction, adjusted by crowding
Current data: FII +0.11 pp | DII +0.71 pp | Prom 0.00 pp
Business Momentum
-41
Early weakness
Derived from: Latest quarter sales + profit + OPM change
Current data: Q Sales -7.5% | Q NP -14.4% | Q OPM -4.0 pp
Derived FieldValueHow it is derived
Valuation Gap %-39.9%((Fair Value - CMP) / CMP) × 100
Borrowings / Reserves0.89xLatest borrowings divided by latest reserves
CFO / Net ProfitN/ALatest operating cash flow divided by latest net profit
FII Change+0.11 ppLatest FII% minus previous FII%
DII Change+0.71 ppLatest DII% minus previous DII%
Promoter Change0.00 ppLatest promoter% minus previous promoter%
Shareholder Count Change+135,334Latest shareholder count minus previous count
Quarterly Sales Change-7.5%Latest quarter sales vs previous quarter sales
Quarterly Profit Change-14.4%Latest quarter net profit vs previous quarter net profit
Quarterly OPM Change-4.0 ppLatest quarter OPM minus previous quarter OPM

Share Price and Basic Stock Data

Last Updated: April 2, 2026, 2:33 am

Market Cap 3,02,982 Cr.
Current Price 157
Intrinsic Value₹94.31
High / Low 183/92.4
Stock P/E26.4
Book Value 30.3
Dividend Yield0.00 %
ROCE22.5 %
ROE26.1 %
Face Value 2.00
PEG Ratio1.43

Stock P/E, Current Price, and Intrinsic Value Over Time

View Share Price Target for Adani Power Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Adani Power Ltd 3,02,982 Cr. 157 183/92.426.4 30.30.00 %22.5 %26.1 % 2.00
NTPC Ltd 3,53,589 Cr. 365 394/31614.6 1982.29 %9.95 %12.1 % 10.0
Adani Green Energy Ltd 1,40,349 Cr. 852 1,179/76585.1 1190.00 %8.70 %14.6 % 10.0
Tata Power Company Ltd 1,21,487 Cr. 380 418/33232.1 1180.59 %10.8 %11.0 % 1.00
JSW Energy Ltd 85,079 Cr. 484 557/42836.8 1670.41 %6.49 %7.41 % 10.0
Industry Average60,447.10 Cr156.8041.9494.050.95%8.95%11.73%7.77

All Competitor Stocks of Adani Power Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 7,76410,24211,00612,99112,99113,36414,95613,33913,67114,23714,10913,45712,451
Expenses 6,2958,3357,4917,8198,3468,5148,7618,0638,6489,4258,4248,3078,213
Operating Profit 1,4701,9073,5145,1714,6454,8506,1945,2765,0234,8135,6855,1504,238
OPM % 19%19%32%40%36%36%41%40%37%34%40%38%34%
Other Income 5265537,1031,9453645185187241,162298465851543
Interest 946746883888797820811807957765857842701
Depreciation 8388179351,0041,0029909961,0591,1701,0851,0891,1931,135
Profit before tax 2128988,8005,2243,2103,5584,9064,1344,0593,2614,2043,9662,945
Tax % 96%-484%0%-26%15%23%20%20%28%20%21%27%16%
Net Profit 95,2428,7596,5942,7382,7373,9133,2982,9402,5993,3052,9062,488
EPS in Rs 0.002.724.543.421.421.422.031.731.591.371.761.531.29

Last Updated: February 6, 2026, 9:17 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 18, 2026, 2:08 pm

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 15,32818,68325,37722,61620,30423,88426,46826,22127,71138,77350,35156,20354,255
Expenses 10,73514,00516,57516,63514,86818,90120,73417,53317,83028,67732,12434,78534,369
Operating Profit 4,5934,6788,8025,9805,4364,9835,7348,6889,88110,09618,22821,41819,886
OPM % 30%25%35%26%27%21%22%33%36%26%36%38%37%
Other Income 1371,188-201-3,6667542,4483231,9093,9084,2169,8832,5902,157
Interest 4,1624,8645,5605,9025,5705,6575,3155,1064,0953,3343,3883,3403,164
Depreciation 1,9371,8182,6662,6722,6992,7513,0063,2023,1183,3043,9314,3094,502
Profit before tax -1,370-816375-6,260-2,079-976-2,2652,2896,5777,67520,79216,36014,377
Tax % -79%0%-47%-1%-0%1%0%45%25%-40%-0%22%
Net Profit -291-816551-6,174-2,103-984-2,2751,2704,91210,72720,82912,75011,299
EPS in Rs -0.20-0.570.33-3.20-1.09-0.51-1.180.662.555.5610.806.715.95
Dividend Payout % 0%0%0%0%0%0%0%0%0%0%0%0%

Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-20232023-20242024-2025
YoY Net Profit Growth (%)-180.41%167.52%-1220.51%65.94%53.21%-131.20%155.82%286.77%118.38%94.17%-38.79%
Change in YoY Net Profit Growth (%)0.00%347.94%-1388.03%1286.45%-12.73%-184.41%287.02%130.95%-168.39%-24.21%-132.96%

Adani Power Ltd has shown an inconsistent trend in YoY Net Profit Growth (%) in the last 11 years from 2014-2015 to 2024-2025.

Growth

Compounded Sales Growth
10 Years:12%
5 Years:16%
3 Years:27%
TTM:2%
Compounded Profit Growth
10 Years:28%
5 Years:66%
3 Years:38%
TTM:-22%
Stock Price CAGR
10 Years:40%
5 Years:75%
3 Years:16%
1 Year:-6%
Return on Equity
10 Years:28%
5 Years:37%
3 Years:40%
Last Year:26%

Last Updated: September 4, 2025, 10:10 pm

Balance Sheet

Last Updated: December 4, 2025, 12:54 am

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Sep 2025
Equity Capital 2,8722,8723,3343,8573,8573,8573,8573,8573,8573,8573,8573,8573,857
Reserves 3,6712,8534,134-857-2,9683,8552,6249,25614,60026,01939,04252,49054,594
Borrowings 44,15044,74252,72952,48452,83546,98055,19952,41149,14542,35034,86239,49548,464
Other Liabilities 8,0458,00815,59716,02715,80413,29313,34613,01214,37913,59614,24817,07618,636
Total Liabilities 58,73958,47475,79471,51169,52867,98575,02578,53581,98185,82192,009112,918125,551
Fixed Assets 46,36545,08056,94154,39152,13750,41955,84652,85153,27451,45163,01669,29771,102
CWIP 3,660191881251203502,3476,43910,27012,88092512,10419,779
Investments 1153570164033201836543741,09750
Other Assets 8,59912,84618,76516,83117,27117,21316,83019,22518,25420,83627,69430,41834,620
Total Assets 58,73958,47475,79471,51169,52867,98575,02578,53581,98185,82192,009112,918125,551

Reserves and Borrowings Chart

Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Cash from Operating Activity + 3,2385,8245,2574,7255,1015,6105,5987,01410,2338,43114,17021,501
Cash from Investing Activity + -4,700-4,737-2,692-1,212-520-984-2,304-2,1887741,5453,481-17,142
Cash from Financing Activity + 1,631-1,144-2,713-3,539-4,600-4,663-2,377-5,655-10,338-10,408-16,864-5,175
Net Cash Flow 169-58-148-26-19-37917-828669-433787-816
Free Cash Flow -2,6703,0983,2893,8814,1744,6513,3783,4076,7995,18811,5689,957
CFO/OP 70%125%60%79%94%113%99%81%106%84%78%100%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow-40.00-40.00-44.00-47.00-47.00-42.00-50.00-44.00-40.00-32.00-16.00-18.00

Free Cash Flow = Income Generated from Operational Activities - Borrowings - Capital Work in Progress (CWIP)

Consistent positive free cash flow is crucial for businesses as it indicates their ability to generate cash from their core operations. It provides financial flexibility, allowing companies to invest in growth opportunities, pay dividends to shareholders, reduce debt, and weather economic downturns more effectively.

Free Cash Flow Chart

Financial Efficiency Indicators

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Debtor Days 37681791241091311151651261098585
Inventory Days
Days Payable
Cash Conversion Cycle 37681791241091311151651261098585
Working Capital Days -289-161-154-208-269-90-77-38-46-61618
ROCE %6%7%11%6%6%9%7%12%16%16%32%23%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthMar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Promoters 74.97%74.97%70.02%71.75%71.75%72.71%74.96%74.96%74.96%74.96%74.96%74.96%
FIIs 11.70%11.95%17.51%15.86%15.91%14.73%12.66%12.34%12.36%12.46%11.53%11.64%
DIIs 0.01%0.04%0.76%1.18%1.41%1.42%1.52%1.60%1.64%1.76%2.70%3.41%
Public 13.32%13.04%11.72%11.20%10.93%11.14%10.84%11.09%11.03%10.82%10.82%9.99%
No. of Shareholders 17,90,67516,70,03615,03,34714,60,76714,26,24917,90,38417,42,78318,85,68418,91,23418,14,14220,12,64721,47,981

Shareholding Pattern Chart

No. of Shareholders

Adani Power Ltd: Intrinsic Value & Share Price Analysis - Shareholder trend analysis

Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)Previous Number of SharesPrevious DatePercentage Change
SBI Equity Hybrid Fund 132,649,067 2.21 1795.8130,000,0002026-02-23 01:29:172.04%
SBI Focused Fund 112,721,638 3.55 1526.03110,000,0002026-02-23 01:29:172.47%
Quant ELSS Tax Saver Fund 62,449,568 7.2 845.449,543,7282025-12-08 03:34:18554.35%
Quant Small Cap Fund 60,430,545 2.99 818.119,272,8592025-12-08 03:34:18551.69%
SBI Multicap Fund 51,751,510 3.05 700.61N/AN/AN/A
Quant Flexi Cap Fund 34,202,320 7.44 463.0337,400,5482025-12-15 00:10:34-8.55%
Quant Multi Cap Fund 29,026,095 5.27 392.9629,909,9652025-12-15 00:10:34-2.96%
Quant Infrastructure Fund 18,662,435 9.05 252.651,575,0002025-12-08 03:34:181084.92%
Quant Large & Mid Cap Fund 12,225,000 5.45 165.5N/AN/AN/A
SBI Childrens Fund - Investment Plan 11,291,240 2.95 152.86N/AN/AN/A

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 32.3251.6224.579.630.06
Diluted EPS (Rs.) 32.3251.6224.579.630.06
Cash EPS (Rs.) 44.2364.2036.3820.8211.59
Book Value[Excl.RevalReserv]/Share (Rs.) 138.1792.2642.5614.231.29
Book Value[Incl.RevalReserv]/Share (Rs.) 138.1792.2642.5614.231.29
Revenue From Operations / Share (Rs.) 145.72130.55100.5371.8567.98
PBDIT / Share (Rs.) 62.2572.8837.1135.7527.47
PBIT / Share (Rs.) 51.0762.6928.5427.6719.17
PBT / Share (Rs.) 42.4153.9119.9017.055.93
Net Profit / Share (Rs.) 33.0654.0027.8112.733.29
NP After MI And SOA / Share (Rs.) 33.5554.0027.8112.733.29
PBDIT Margin (%) 42.7155.8236.9149.7640.41
PBIT Margin (%) 35.0548.0228.3938.5128.20
PBT Margin (%) 29.1041.2919.7923.738.72
Net Profit Margin (%) 22.6841.3627.6617.724.84
NP After MI And SOA Margin (%) 23.0241.3627.6617.724.84
Return on Networth / Equity (%) 24.2758.5365.3589.48255.22
Return on Capital Employeed (%) 20.4131.5916.1716.4512.30
Return On Assets (%) 11.4522.5612.495.991.61
Long Term Debt / Equity (X) 0.500.742.046.8780.12
Total Debt / Equity (X) 0.700.962.568.8699.58
Asset Turnover Ratio (%) 0.540.560.460.360.01
Current Ratio (X) 1.601.621.100.940.94
Quick Ratio (X) 1.401.360.920.810.83
Inventory Turnover Ratio (X) 15.070.000.000.000.00
Dividend Payout Ratio (NP) (%) 0.007.830.000.000.00
Dividend Payout Ratio (CP) (%) 0.006.590.000.000.00
Earning Retention Ratio (%) 0.0092.170.000.000.00
Cash Earning Retention Ratio (%) 0.0093.410.000.000.00
Interest Coverage Ratio (X) 7.198.304.293.372.08
Interest Coverage Ratio (Post Tax) (X) 4.827.154.222.201.25
Enterprise Value (Cr.) 229936.85233089.99114277.37117803.6780836.28
EV / Net Operating Revenue (X) 4.094.632.954.253.08
EV / EBITDA (X) 9.588.297.988.547.63
MarketCap / Net Operating Revenue (X) 3.494.091.912.581.25
Retention Ratios (%) 0.0092.160.000.000.00
Price / BV (X) 3.695.784.5013.0065.93
Price / Net Operating Revenue (X) 3.494.091.912.581.25
EarningsYield 0.060.100.140.060.03

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

About the Company - Qualitative Analysis

Adani Power Ltd. is a Public Limited Listed company incorporated on 22/08/1996 and has its registered office in the State of Gujarat, India. Company's Corporate Identification Number(CIN) is L40100GJ1996PLC030533 and registration number is 030533. Currently Company is involved in the business activities of Electric power generation by coal based thermal power plants. Company's Total Operating Revenue is Rs. 49710.76 Cr. and Equity Capital is Rs. 3856.94 Cr. for the Year ended 31/03/2025.
INDUSTRYADDRESSCONTACT
Power - Generation/DistributionAdani Corporate House, Ahmedabad Gujarat 382421Contact not found
Management
NamePosition Held
Mr. Gautam S AdaniChairman (Non - Executive) & Non Independent Direc
Mr. Anil SardanaExecutive & Managing Director
Mr. Rajesh S AdaniNon Executive Director
Mrs. Sangeeta SinghInd. Non-Executive Director
Mr. Sushil Kumar RoongtaInd. Non-Executive Director
Mrs. Chandra IyengarInd. Non-Executive Director

FAQ

What is the intrinsic value of Adani Power Ltd and is it undervalued?

As of 04 April 2026, Adani Power Ltd's intrinsic value is ₹94.31, which is 39.93% lower than the current market price of ₹157.00, suggesting the stock is overvalued. This is calculated using the PE ratio method factoring in ROE (26.1 %), book value (₹30.3), dividend yield (0.00 %), and 5-year EPS CAGR.

What is the current share price and 52-week range of Adani Power Ltd?

Adani Power Ltd is trading at ₹157.00 as of 04 April 2026, with a FY2026-2027 high of ₹183 and low of ₹92.4. The stock is currently in the middle of its 52-week range. Market cap stands at ₹3,02,982 Cr..

How does Adani Power Ltd's P/E ratio compare to its industry?

Adani Power Ltd has a P/E ratio of 26.4, which is below the industry average of 41.94. This is broadly in line with or below the industry average.

Is Adani Power Ltd financially healthy?

Key indicators for Adani Power Ltd: ROCE of 22.5 % indicates efficient capital utilization; ROE of 26.1 % shows strong shareholder returns. Dividend yield is 0.00 %.

Is Adani Power Ltd profitable and how is the profit trend?

Adani Power Ltd reported a net profit of ₹12,750 Cr in Mar 2025 on revenue of ₹56,203 Cr. Compared to ₹4,912 Cr in Mar 2022, the net profit shows an improving trend.

Does Adani Power Ltd pay dividends?

Adani Power Ltd has a dividend yield of 0.00 % at the current price of ₹157.00. The company is currently not paying meaningful dividends.

Disclaimer: This article is for informational purposes only and should not be construed as financial advice. The author is not a SEBI registered financial advisor and does not have any vested interest in Adani Power Ltd. Investors are advised to conduct their own due diligence and consult with a financial professional before making any investment decisions. The information provided in this article is based on publicly available data and the author's analysis, but it may not be comprehensive or up-to-date. The author and getaka.co.in are not responsible for any errors or omissions in the content. This article is not intended to promote any particular investment strategy or recommendation, and readers should consult with their own financial advisors before making any investment decisions. Data Source: NSE
Explore Industry-wise Stock Analysis Reports