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Last Updated on: 14 April, 2024|Author: Getaka | Social: X Twitter Profile
Stock Ticker - BSE: 533096 | NSE: ADANIPOWER

Fundamental Analysis of Adani Power Ltd

About the Company - Adani Power Ltd

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. 581.32 Cr. and Equity Capital is Rs. 3856.94 Cr. for the Year ended 31/03/2022.
INDUSTRYADDRESSCONTACT
Power - Generation/DistributionAdani Corporate House, Ahmedabad Gujarat 382421investor.apl@adani.com
http://www.adanipower.com
Management
NamePosition Held
Mr. Gautam S AdaniNon Executive Chairman
Mr. Anil SardanaManaging Director
Mr. Rajesh S AdaniNon Executive Director
Mr. Mukesh ShahIndependent Director
Mr. Sushil Kumar RoongtaIndependent Director
Mrs. Chandra IyengarIndependent Director

Adani Power Ltd. Share Price Update

Share PriceValue
Today₹595.20
Previous Day₹617.90

Basic Stock Data of Adani Power Ltd

Last Updated: April 6, 2024, 9:22 am

Market Cap 2,47,616 Cr.
Current Price 642
High / Low646/185
Stock P/E10.6
Book Value 105
Dividend Yield0.00 %
ROCE15.8 %
ROE44.8 %
Face Value 10.0

Data Source: screener.in

Competitors of Adani Power Ltd

Stock NameMarket CapCurrent PriceHigh / LowStock P/EBook ValueDividend YieldROCEROEFace Value
Rattanindia Power Ltd 4,726 Cr. 8.8012.3/2.95 10.60.00 %8.62 %% 10.0
PTC India Ltd 5,911 Cr. 200255/90.511.6 1723.91 %9.21 %9.03 % 10.0
Orient Green Power Company Ltd 2,069 Cr. 21.134.6/7.5971.1 8.520.00 %7.19 %1.82 % 10.0
KKV Agro Powers Ltd 68.0 Cr. 1,2001,365/54354.9 3820.42 %12.2 %5.89 % 10.0
Adani Green Energy Ltd 3,09,092 Cr. 1,9512,019/816188 50.10.00 %7.81 %22.8 % 10.0
Industry Average64,373.20 Cr676.1865.12124.640.87%9.01%7.91%10.00

Adani Power Ltd Quarterly Results

MonthSep 2020Dec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Sales7,7496,8956,3746,5695,1845,36110,59813,7237,0447,76410,24211,00612,991
Expenses3,7065,2724,7594,9214,0203,5905,3668,0036,0966,2958,3357,4917,819
Operating Profit4,0431,6231,6141,6481,1631,7715,2325,7209481,4701,9073,5145,171
OPM %52%24%25%25%22%33%49%42%13%19%19%32%40%
Other Income1,0432045286443882332,7101,7861,4025265537,1031,945
Interest1,3641,2231,1271,0689761,0151,035823818946746883888
Depreciation8288107827747857847748168338388179351,004
Profit before tax2,894-206234450-2102046,1335,8666992128988,8005,224
Tax %23%-40%94%38%-10%-7%24%19%0%96%-484%0%-26%
Net Profit2,228-28913278-2312184,6454,78069695,2428,7596,594
EPS in Rs5.78-0.750.030.72-0.600.5712.0412.391.800.0213.5922.7117.10

Adani Power Ltd Quarterly Chart

Adani Power Ltd Profit & Loss

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023TTM
Sales4,0356,69215,32818,68325,37722,61620,30423,88426,46826,22127,71138,77342,003
Expenses2,6615,73210,73514,00516,57516,63514,86818,90120,73417,53317,83028,67729,940
Operating Profit1,3739604,5934,6788,8025,9805,4364,9835,7348,6889,88110,09612,063
OPM %34%14%30%25%35%26%27%21%22%33%36%26%29%
Other Income-452151371,188-201-3,6667542,4483231,9093,9084,21610,128
Interest7381,7034,1624,8645,5605,9025,5705,6575,3155,1064,0953,3343,464
Depreciation5901,2901,9371,8182,6662,6722,6992,7513,0063,2023,1183,3043,594
Profit before tax0-1,818-1,370-816375-6,260-2,079-976-2,2652,2896,5777,67515,133
Tax %86,718%-26%79%0%-47%1%0%-1%-0%45%25%-40%
Net Profit-294-2,295-291-816551-6,174-2,103-984-2,2751,2704,91210,72720,605
EPS in Rs-1.32-9.59-1.01-2.841.65-16.01-5.45-2.55-5.903.2912.7327.8153.42
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%

Adani Power Ltd Profit & Loss Yearly Chart

YoY Net Profit Growth

Year2012-20132013-20142014-20152015-20162016-20172017-20182018-20192019-20202020-20212021-20222022-2023
YoY Net Profit Growth (%)-680.61%87.32%-180.41%167.52%-1220.51%65.94%53.21%-131.20%155.82%286.77%118.38%
Change in YoY Net Profit Growth (%)0.00%767.93%-267.73%347.94%-1388.03%1286.45%-12.73%-184.41%287.02%130.95%-168.39%

Adani Power Ltd Growth

Compounded Sales Growth
10 Years:19%
5 Years:14%
3 Years:14%
TTM:21%
Compounded Profit Growth
10 Years:21%
5 Years:48%
3 Years:120%
TTM:130%
Stock Price CAGR
10 Years:27%
5 Years:65%
3 Years:85%
1 Year:218%
Return on Equity
10 Years:11%
5 Years:24%
3 Years:34%
Last Year:45%

Adani Power Ltd Balance Sheet

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Sep 2023
Equity Capital2,1802,3932,8722,8723,3343,8573,8573,8573,8573,8573,8573,8573,857
Reserves3,8621,9003,6712,8534,134-857-2,9683,8552,6249,25614,60025,77236,652
Preference Capital000000007688401416
Borrowings38,60041,79544,15044,74252,72952,48452,83546,98055,12352,43048,74442,18132,367
Other Liabilities6,7418,5998,0458,00815,59716,02715,80413,29313,42213,26314,78014,01216,833
Total Liabilities51,38454,68858,73958,47475,79471,51169,52867,98575,02578,80681,98185,82189,709
Fixed Assets15,80429,08946,36545,08056,94154,39152,13750,41955,84652,85153,27451,45165,501
CWIP26,72118,9763,660191881251203502,3476,43910,27012,880461
Investments1922115357016403320183654110
Other Assets8,8396,6008,59912,84618,76516,83117,27117,21316,83019,49518,25420,83623,638
Total Assets51,38454,68858,73958,47475,79471,51169,52867,98575,02578,80681,98185,82189,709

Adani Power Ltd Reserves and Borrowings Chart

Adani Power Ltd Cash Flow

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Cash from Operating Activity 9643,0013,2385,8245,2574,7255,1015,6105,5987,01410,2338,431
Cash from Investing Activity -13,474-4,064-4,700-4,737-2,692-1,212-520-984-2,304-2,1887741,545
Cash from Financing Activity 12,3568611,631-1,144-2,713-3,539-4,600-4,663-2,377-5,655-10,338-10,408
Net Cash Flow-154-203169-58-148-26-19-37917-828669-433

Adani Power Ltd Financial Efficiency Indicators

MonthMar 2012Mar 2013Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023
Debtor Days41413768179124109131115165126109
Inventory Days
Days Payable
Cash Conversion Cycle41413768179124109131115165126109
Working Capital Days-378-430-131-3840-5-718311369874
ROCE %2%-0%6%7%11%6%6%9%7%12%16%16%

Adani Power Ltd Financial Efficiency Indicators Chart

Adani Power Ltd Share Holding Pattern

MonthDec 2020Mar 2021Jun 2021Sep 2021Dec 2021Mar 2022Jun 2022Sep 2022Dec 2022Mar 2023Jun 2023Sep 2023
Promoters74.97%74.97%74.97%74.97%74.97%74.97%74.97%74.97%74.97%74.97%74.97%70.02%
FIIs11.57%11.52%11.54%11.17%11.03%11.31%12.56%13.23%12.88%11.70%11.95%17.51%
DIIs7.32%7.08%5.53%5.53%5.53%5.56%5.00%0.00%0.00%0.01%0.04%0.76%
Public6.14%6.43%7.96%8.33%8.46%8.15%7.47%11.80%12.15%13.32%13.04%11.72%
No. of Shareholders4,30,8885,55,5909,81,56110,05,56511,42,69711,74,86315,02,71314,76,87214,88,29517,90,67516,70,03615,03,347

Adani Power Ltd Shareholding Pattern Chart

No. of Adani Power Ltd Shareholders

Adani Power Ltd Mutual Fund Holdings

Fund NameNo of SharesAUM (%)Amount Invested (Cr)
Quant ELSS Tax Saver Fund74037285.69319.47
Quant Small Cap Fund67490002.6291.22
Quant Mid Cap Fund36430004.16157.2
Quant Active Fund31970002.06137.95
Quant Flexi Cap Fund30430005.34131.31
Quant Absolute Fund21030006.3290.74
Quant Large and Mid Cap Fund17650005.8876.16
Quant Quantamental Fund15600005.4867.31
Quant Infrastructure Fund13250005.0657.17
Quant Multi Asset Fund11100004.1547.9

Adani Power Ltd ROCE Trend

Adani Power Ltd EPS Trend

Adani Power Ltd Key Financial Ratios

MonthMar 23Mar 22Mar 21Mar 20Mar 19
FaceValue10.0010.0010.0010.0010.00
Basic EPS (Rs.)24.579.630.06-8.19-3.21
Diluted EPS (Rs.)24.579.630.06-8.19-3.21
Cash EPS (Rs.)36.3820.8211.591.904.58
Book Value[Excl.RevalReserv]/Share (Rs.)42.5614.231.29-5.53-0.74
Book Value[Incl.RevalReserv]/Share (Rs.)42.5614.231.29-5.53-0.74
Revenue From Operations / Share (Rs.)100.5371.8567.9868.6261.92
PBDIT / Share (Rs.)37.1135.7527.4718.3019.27
PBIT / Share (Rs.)28.5427.6719.1710.5112.14
PBT / Share (Rs.)19.9017.055.93-5.87-2.53
Net Profit / Share (Rs.)27.8112.733.29-5.90-2.55
NP After MI And SOA / Share (Rs.)27.8112.733.29-5.90-2.55
PBDIT Margin (%)36.9149.7640.4126.6731.11
PBIT Margin (%)28.3938.5128.2015.3119.59
PBT Margin (%)19.7923.738.72-8.55-4.08
Net Profit Margin (%)27.6617.724.84-8.59-4.12
NP After MI And SOA Margin (%)27.6617.724.84-8.59-4.12
Return on Networth / Equity (%)65.3589.48255.220.000.00
Return on Capital Employeed (%)16.1716.4512.307.139.39
Return On Assets (%)12.495.991.61-3.03-1.44
Long Term Debt / Equity (X)2.046.8780.12-20.84-126.55
Total Debt / Equity (X)2.568.8699.58-24.50-151.14
Asset Turnover Ratio (%)0.470.360.010.020.04
Current Ratio (X)1.100.940.940.800.72
Quick Ratio (X)0.920.810.830.660.65
Interest Coverage Ratio (X)4.293.372.081.331.31
Interest Coverage Ratio (Post Tax) (X)4.222.201.250.760.82
Enterprise Value (Cr.)114277.37117803.6780836.2861091.8661158.37
EV / Net Operating Revenue (X)2.954.253.082.312.56
EV / EBITDA (X)7.988.547.638.658.23
MarketCap / Net Operating Revenue (X)1.912.581.250.400.77
Price / BV (X)4.5013.0065.93-5.01-64.70
Price / Net Operating Revenue (X)1.912.581.250.400.77
EarningsYield0.140.060.03-0.21-0.05

Adani Power Ltd Profitability Ratios (%)

Adani Power Ltd Liquidity Ratios

Adani Power Ltd Liquidity Ratios (%)

Adani Power Ltd Interest Coverage Ratios (X)

Adani Power Ltd Valuation Ratios

Fair Value / Intrinsic Value of Adani Power Ltd

Fair Value: 508.60

The stock is overvalued by 20.78% compared to the current price ₹642

Calculation basis:

  • Fair value = (P/E Ratio * (Return on Equity / 100) * Book Value) * (1 + Dividend Yield / 100)
  • P/E Ratio (Price-to-Earnings Ratio): Represents the price of the stock relative to its earnings per share. A higher P/E ratio indicates that investors are willing to pay a higher price for the stock.
  • Return on Equity (ROE): Measures a company's profitability relative to its shareholder equity. It showcases the company's ability to generate profits using the investment made by its shareholders, offering valuable insight into its operational efficiency and financial performance
  • Book Value: Represents the net asset value of the company per share. It is calculated as the total assets minus intangible assets and liabilities, divided by the number of outstanding shares.
  • Dividend Yield: The ratio of the annual dividend per share to the current market price per share. It offers valuable insights into the profitability of an investment through dividends.

This formula allows us to gauge the fair value of the stock by analyzing its fundamental indicators.

*Investments are subject to market risks

Strength and Weakness of Adani Power Ltd

StrengthWeakness
  1. The stock has a low average Working Capital Days of -49.33, which is a positive sign.
  2. The company has higher reserves (8,104.15 cr) compared to borrowings (75.46 cr), indicating strong financial stability.
  1. The stock has a low average ROCE of 8.17%, which may not be favorable.
  2. The stock has a high average Cash Conversion Cycle of 103.75, which may not be favorable.
  3. The company has not shown consistent growth in sales (22.85) and profit (-107.38).

Should I Buy Adani Power Ltd Share Now?

  • Considering all of the following key financial indicators, prospective investors are encouraged to conduct thorough research and seek professional guidance before considering any investment in Adani Power Ltd:
    1. Net Profit Margin: 27.66%
      • Net Profit Margin: This metric indicates the percentage of profit a company makes from its total revenue. A higher net profit margin is generally desirable as it reflects better profitability.
    2. ROCE: 16.17% (Industry Average ROCE: 10.29%)
      • ROCE (Return on Capital Employed): ROCE measures a company's profitability and the efficiency with which its capital is employed. A higher ROCE indicates efficient use of capital.
    3. ROE%: 65.35% (Industry Average ROE: 10.06%)
      • ROE (Return on Equity): ROE measures a company's profitability relative to shareholders' equity. A higher ROE indicates efficient use of shareholders' funds.
    4. Interest Coverage Ratio (Post Tax): 4.22
      • Interest Coverage Ratio: The interest coverage ratio measures a company's ability to cover its interest payments on outstanding debt. A ratio greater than 2 is generally considered healthy as it indicates the company can meet its interest obligations comfortably.
    5. Quick Ratio: 0.92
      • Quick Ratio: The quick ratio assesses a company's ability to cover its short-term liabilities with its most liquid assets. A ratio higher than 1 suggests the company can meet its short-term obligations without relying heavily on inventory.
    6. ✓ Stock P/E: 10.6 (Industry average Stock P/E: 29.66)
      • Stock P/E (Price-to-Earnings) Ratio: The P/E ratio compares a company's current share price to its earnings per share. A lower P/E ratio relative to industry peers or historical values may indicate that the stock is undervalued.
    7. Total Debt / Equity: 2.56
      • Total Debt / Equity: This ratio measures a company's financial leverage by comparing its total debt to its total equity. A lower ratio indicates lower financial risk and greater financial stability.
    The current analysis is available for review. It's important to conduct thorough research and consider consulting with financial professionals before making any investment decisions.
    Stock Rating: ★★★★︎☆

FAQ

What is the latest fair value of Adani Power Ltd?

The latest fair value of Adani Power Ltd is 508.60.

What is the Market Cap of Adani Power Ltd?

The Market Cap of Adani Power Ltd is 2,47,616 Cr..

What is the current Stock Price of Adani Power Ltd as on 13 April 2024?

The current stock price of Adani Power Ltd as on 13 April 2024 is 642.

What is the High / Low of Adani Power Ltd stocks in FY 2024?

In FY 2024, the High / Low of Adani Power Ltd stocks is ₹646/185.

What is the Stock P/E of Adani Power Ltd?

The Stock P/E of Adani Power Ltd is 10.6.

What is the Book Value of Adani Power Ltd?

The Book Value of Adani Power Ltd is 105.

What is the Dividend Yield of Adani Power Ltd?

The Dividend Yield of Adani Power Ltd is 0.00 %.

What is the ROCE of Adani Power Ltd?

The ROCE of Adani Power Ltd is 15.8 %.

What is the ROE of Adani Power Ltd?

The ROE of Adani Power Ltd is 44.8 %.

What is the Face Value of Adani Power Ltd?

The Face Value of Adani Power Ltd is 10.0.

About the Author

Author Avatar
Getaka

Getaka, CFA, a financial analyst with 15 years of experience in the industry. Getaka holds an MBA degree and the Chartered Financial Analyst designation, demonstrating his profound understanding of financial analysis and investment management. Throughout his career, he has conducted numerous financial analyses and due diligence processes for companies in the industry, and has a strong track record of identifying key trends and opportunities. He leverages his expertise to deliver a thorough financial analysis of a company, encompassing its financial performance, key ratios, future prospects, and risks. Getaka is committed to providing accurate, reliable, and trustworthy information to help readers make informed decisions about their finances and investments.

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