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Reliance Power Ltd: Intrinsic Value & Share Price Analysis

Fair Value

₹757.96Undervalued by 3,181.21%vs CMP ₹23.10

P/E (2,660.0) × ROE (0.9%) × BV (₹38.80) × DY (2.00%)

₹338.43Undervalued by 1,365.06%vs CMP ₹23.10
MoS: +93.2% (Strong)Confidence: 37/100 (Low)Models: 3 Under, 2 Fair, 2 Over
ModelCategoryValueWeightSignal
PE-ROEEarnings₹1,025.3331%Under (+4338.7%)
Graham NumberEarnings₹24.5419%Fair (+6.2%)
Net Asset ValueAssets₹38.8010%Under (+68%)
EV/EBITDAEnterprise₹23.2313%Fair (+0.6%)
Earnings YieldEarnings₹6.9010%Over (-70.1%)
ROCE CapitalReturns₹52.5510%Under (+127.5%)
Revenue MultipleRevenue₹9.178%Over (-60.3%)
Consensus (7 models)₹338.43100%Undervalued
Key Drivers: EPS CAGR 35.3% lifts DCF — verify sustainability. | P/E of 2,660 makes PE-ROE unreliable — asset/earnings models are better benchmarks.

PE-ROE · Graham · EPV · DCF · NAV · EV/EBITDA · DDM · Earnings Yield · ROCE Capital · Revenue Multiple | CoE: 12% · Terminal: 4% · EPS CAGR: 35.3%

*Investments are subject to market risks

Analyst Summary

Reliance Power Ltd operates in the Power - Generation/Distribution segment, NSE: RPOWER | BSE: 532939, current market price is ₹23.10, market cap is 9,550 Cr.. At a glance, stock P/E is 2,660, ROE is 0.90 %, ROCE is 6.11 %, book value is 38.8, dividend yield is 0.00 %. The latest intrinsic value estimate is ₹338.43, which is about 1,365.1% above the current price, so the page currently reads as potentially undervalued rather than fully priced. On operating trend, latest reported sales are about ₹7,583 Cr versus the prior period change of -3.9%, while latest net profit is about ₹2,948 Cr with a prior-period change of 242.6%. The 52-week range shown on this page is 50.7/20.2, which helps frame where the current quote sits within its recent trading band. Business context: About the Company - Qualitative AnalysisReliance Power Ltd. is a Public Limited Listed company incorporated on 17/01/1995 and has its registered office in the State of Maharashtra, India. Company's Corporate Identification Number(CIN) is L4…

This summary is generated from the stock page data available for Reliance Power Ltd: Intrinsic Value & Share Price Analysis and is refreshed automatically when the underlying metrics change.

Investment Snapshot

35
Reliance Power Ltd scores 35/100 (Weak)
Based on 5 dimensions: health, institutional flow, earnings quality, momentum, and peer comparison
Stock Health22/100 · Weak
ROCE 6.1% WeakROE 0.9% WeakD/E 1.68 High debtInterest Coverage 0.0x RiskyProfitable 2/5 years Inconsistent
Smart Money50/100 · Moderate
FII holding up 0.55% (6mo) Slight increaseDII holding down 0.96% MF sellingPromoter holding at 25.0% Stable
Earnings Quality40/100 · Moderate
OPM contracting (31% → 22%) Declining
Quarterly Momentum50/100 · Moderate
Revenue (4Q): 1% YoY FlatProfit (4Q): -88% YoY DecliningOPM: 32.0% (up 5.0% YoY) Margin expansion
Industry Rank25/100 · Weak
P/E 2,660.0 vs industry 176.4 Premium to peersROCE 6.1% vs industry 8.6% AverageROE 0.9% vs industry 9.3% Below peers3Y sales CAGR: 0% Slow

Weights: Health 30% · Earnings Quality 25% · Momentum 20% · Industry Rank 15% · Smart Money 10%. Scores are computed from reported financials and recalculated daily.

Share Price and Basic Stock Data

Last Updated: August 25, 2026, 7:25 am

Market Cap 9,550 Cr.
Current Price 23.1
Intrinsic Value₹338.43
High / Low 50.7/20.2
Stock P/E2,660
Book Value 38.8
Dividend Yield0.00 %
ROCE6.11 %
ROE0.90 %
Face Value 10.0
PEG Ratio75.41

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

View Share Price Target for Reliance Power Ltd

Competitors

Stock Name ⇩Market Cap ⇩Current Price ⇩High / Low ⇩Stock P/E ⇩Book Value ⇩Dividend Yield ⇩ROCE ⇩ROE ⇩Face Value ⇩
Reliance Power Ltd 9,550 Cr. 23.1 50.7/20.22,660 38.80.00 %6.11 %0.90 % 10.0
GMR Power & Urban Infra Ltd 7,537 Cr. 96.5 137/89.0 24.40.00 %12.0 %14.3 % 5.00
Jaiprakash Power Ventures Ltd 11,719 Cr. 17.1 24.5/13.114.0 18.60.00 %6.97 %3.60 % 10.0
PTC India Ltd 4,643 Cr. 157 230/1509.08 20214.7 %13.4 %10.3 % 10.0
Rattanindia Power Ltd 4,221 Cr. 7.86 12.8/7.5037.9 8.640.00 %6.21 %1.14 % 10.0
Industry Average68,165.40 Cr170.78176.4496.591.24%8.64%9.26%7.77

All Competitor Stocks of Reliance Power Ltd

Quarterly Result

MetricDec 2022Mar 2023Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025
Sales 1,8861,7301,9222,0381,9441,9971,9921,7601,8531,9781,8861,9741,873
Expenses 1,2231,8891,3011,3182,3071,8111,3421,3841,3611,3881,3211,3561,269
Operating Profit 663-159621720-364186651376492590565618604
OPM % 35%-9%32%35%-19%9%33%21%27%30%30%31%32%
Other Income 491,17037117175175773,433307881409377
Interest 650574620716602517551562544399426395371
Depreciation 253266261259258287250243204211207208210
Profit before tax -192171-224-138-1,048-444-733,004506772108100
Tax % 28%-50%32%72%8%-10%34%4%16%-87%38%19%75%
Net Profit -245257-296-238-1,137-398-982,87842126458725
EPS in Rs -0.800.86-0.79-0.64-3.04-0.99-0.247.160.100.310.110.210.06

Last Updated: February 4, 2026, 10:16 pm

Quarterly Chart

Profit & Loss - Annual Report

Last Updated: February 25, 2026, 3:46 am

MetricMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025TTM
Sales 5,1756,90310,29910,3969,5938,2017,5627,9347,5037,5147,8937,5837,710
Expenses 3,2584,3175,8845,8895,1994,2684,5364,3594,7685,6286,7335,4415,334
Operating Profit 1,9172,5874,4144,5064,3933,9343,0273,5752,7351,8861,1602,1422,377
OPM % 37%37%43%43%46%48%40%45%36%25%15%28%31%
Other Income 370298323496276-2,823-3,3844861921,2964993,871397
Interest 6841,0742,6832,8432,9263,2063,0542,5392,7212,5042,4512,0561,591
Depreciation 3645247017347598388361,0831,0771,0171,062910835
Profit before tax 1,2391,2861,3531,425984-2,934-4,248439-871-339-1,8543,048348
Tax % 17%20%34%23%15%1%1%-3%5%19%12%3%
Net Profit 1,0271,0288951,104840-2,952-4,271454-915-403-2,0682,948283
EPS in Rs 3.673.673.193.943.00-10.52-14.530.82-2.84-1.26-5.157.340.69
Dividend Payout % 0%0%31%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 (%)0.10%-12.94%23.35%-23.91%-451.43%-44.68%110.63%-301.54%55.96%-413.15%242.55%
Change in YoY Net Profit Growth (%)0.00%-13.04%36.29%-47.26%-427.52%406.75%155.31%-412.17%357.50%-469.11%655.70%

Reliance 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:1%
5 Years:0%
3 Years:0%
TTM:-6%
Compounded Profit Growth
10 Years:%
5 Years:8%
3 Years:23%
TTM:99%
Stock Price CAGR
10 Years:2%
5 Years:70%
3 Years:28%
1 Year:51%
Return on Equity
10 Years:-1%
5 Years:-7%
3 Years:-10%
Last Year:-1%

Last Updated: September 5, 2025, 11:25 am

Balance Sheet

Last Updated: July 8, 2026, 2:30 am

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital 2,8052,8052,8052,8052,8052,8052,8053,4003,7354,0174,0174,136
Reserves 17,82717,42218,56218,43014,5729,0649,4418,3647,8607,59712,32011,904
Borrowings 33,21933,79032,92531,69730,45628,80425,63523,12921,23618,76615,15314,812
Other Liabilities 8,1759,9979,8729,24210,24512,67112,90114,91915,70413,3789,79310,441
Total Liabilities 62,02664,01464,16562,17458,07853,34350,78249,81248,53543,75841,28341,293
Fixed Assets 33,63434,51534,85134,88135,90338,57437,19036,30835,77633,58431,85930,944
CWIP 15,5317,3867,4036,9134,2763,6151,9122,0202,3201,2931,3871,720
Investments 86187379928022430363739209173142
Other Assets 12,00121,24021,11220,10017,67511,12411,64411,44710,4018,6727,8648,486
Total Assets 62,02664,01464,16562,17458,07853,34350,78249,81248,53543,75841,28341,293

Reserves and Borrowings Chart

Cash Flow

MonthMar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity + 1,3994,5744,7054,3654,2234,5434,1493,6134,0243,1741,9382,824
Cash from Investing Activity + -3,630-1,348-2,14235460-247486284-354-192451-212
Cash from Financing Activity + 695-3,194-3,389-4,311-4,839-4,200-4,615-3,849-3,623-2,734-2,435-1,828
Net Cash Flow -1,53532-826408-55696194846248-46785
Free Cash Flow -7612,5444,1303,9184,1803,9984,0153,4173,6393,2252,0912,708
CFO/OP 54%109%106%104%108%154%117%134%216%277%92%122%

Free Cash Flow

MonthMar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025
Free Cash Flow1.00-31.00-29.00-28.00-27.00-27.00-25.00-22.00-21.00-20.00-17.00-13.00

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 80154125105941221141111561307673
Inventory Days
Days Payable
Cash Conversion Cycle 80154125105941221141111561307673
Working Capital Days -245-209-162-158-209-567-551-485-622-682-661-309
ROCE %4%5%7%8%7%7%6%7%5%3%1%6%

Financial Efficiency Indicators Chart

Share Holding Pattern

MonthSep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Promoters 24.50%24.50%23.24%23.24%23.27%23.27%23.27%24.98%24.98%24.98%24.98%24.98%
FIIs 7.66%8.37%13.01%12.71%13.12%12.95%13.21%12.93%13.09%13.25%14.12%13.64%
DIIs 5.16%5.19%4.94%3.06%2.88%2.80%3.29%3.61%3.75%3.05%3.12%2.79%
Government 0.01%0.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Public 62.67%61.95%58.81%60.99%60.72%60.97%60.22%58.48%58.18%58.69%57.75%58.57%
No. of Shareholders 31,06,44635,67,05938,68,22740,90,48140,44,00041,89,89741,77,54943,93,67243,51,10743,67,83843,41,37143,18,443

Shareholding Pattern Chart

No. of Shareholders

Reliance 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
HDFC Large and Mid Cap Fund - Regular Plan 4,039,778 0.06 8.544,039,7782025-04-22 17:25:250%
Motilal Oswal Nifty Microcap 250 Index Fund 3,163,840 1.17 6.693,163,8402025-04-22 17:25:250%
Groww Nifty Total Market Index Fund 8,340 0.04 0.028,3402025-04-22 17:25:250%

ROCE Trend

EPS Trend

Key Financial Ratios

MonthMar 25Mar 24Mar 23Mar 22Mar 21
FaceValue 10.0010.0010.0010.0010.00
Basic EPS (Rs.) 7.34-5.46-1.35-1.900.82
Diluted EPS (Rs.) 7.205.46-1.35-1.900.82
Cash EPS (Rs.) 9.60-2.501.691.535.48
Book Value[Excl.RevalReserv]/Share (Rs.) 40.6728.9135.5741.4249.24
Book Value[Incl.RevalReserv]/Share (Rs.) 40.6728.9135.5741.4249.24
Revenue From Operations / Share (Rs.) 18.8819.6520.1922.0728.28
PBDIT / Share (Rs.) 6.933.805.968.5414.36
PBIT / Share (Rs.) 4.661.153.195.3810.50
PBT / Share (Rs.) 7.59-5.05-0.79-1.531.47
Net Profit / Share (Rs.) 7.34-5.15-1.08-1.641.62
NP After MI And SOA / Share (Rs.) 7.34-5.15-1.26-1.780.81
PBDIT Margin (%) 36.6919.3229.4938.7150.78
PBIT Margin (%) 24.695.8615.8024.3537.13
PBT Margin (%) 40.18-25.69-3.94-6.945.19
Net Profit Margin (%) 38.87-26.20-5.34-7.415.72
NP After MI And SOA Margin (%) 38.87-26.20-6.24-8.072.88
Return on Networth / Equity (%) 18.04-17.80-4.05-4.861.86
Return on Capital Employeed (%) 5.911.793.955.608.45
Return On Assets (%) 7.14-4.72-0.96-1.210.45
Long Term Debt / Equity (X) 0.620.811.061.141.37
Total Debt / Equity (X) 0.921.621.831.851.68
Asset Turnover Ratio (%) 0.170.170.000.000.00
Current Ratio (X) 0.440.260.270.330.35
Quick Ratio (X) 0.340.210.220.280.30
Inventory Turnover Ratio (X) 8.030.000.000.000.00
Interest Coverage Ratio (X) 1.350.620.881.241.59
Interest Coverage Ratio (Post Tax) (X) 0.860.100.440.751.17
Enterprise Value (Cr.) 31448.7129188.1625989.4228680.4423100.65
EV / Net Operating Revenue (X) 4.153.703.453.822.91
EV / EBITDA (X) 11.3019.1411.689.875.73
MarketCap / Net Operating Revenue (X) 2.281.440.490.610.15
Price / BV (X) 1.060.970.320.360.09
Price / Net Operating Revenue (X) 2.281.440.490.610.15
EarningsYield 0.17-0.18-0.12-0.130.18

Profitability Ratios (%)

Liquidity Ratios

Liquidity Ratios (%)

Interest Coverage Ratios (%)

Valuation Ratios

[display_about_company_data title=”About the Company – Qualitative Analysis”]

FAQ

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

As of 11 September 2026, Reliance Power Ltd's intrinsic value is ₹338.43, which is 1365.06% higher than the current market price of ₹23.10, suggesting the stock is undervalued. This is calculated using the PE ratio method factoring in ROE (0.90 %), book value (₹38.8), dividend yield (0.00 %), and 5-year EPS CAGR.

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

Reliance Power Ltd is trading at ₹23.10 as of 11 September 2026, with a FY2026-2027 high of ₹50.7 and low of ₹20.2. The stock is currently near its 52-week low. Market cap stands at ₹9,550 Cr..

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

Reliance Power Ltd has a P/E ratio of 2,660, which is above the industry average of 176.44. This significantly elevated P/E suggests the market expects strong future growth, or the stock may be overpriced relative to current earnings.

Is Reliance Power Ltd financially healthy?

Key indicators for Reliance Power Ltd: ROCE of 6.11 % is on the lower side compared to the industry average of 8.64%; ROE of 0.90 % is below ideal levels (industry average: 9.26%). Dividend yield is 0.00 %.

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

Reliance Power Ltd reported a net profit of ₹2,948 Cr in Mar 2025 on revenue of ₹7,583 Cr. Compared to ₹-915 Cr in Mar 2022, the net profit shows an improving trend.

Does Reliance Power Ltd pay dividends?

Reliance Power Ltd has a dividend yield of 0.00 % at the current price of ₹23.10. The company is currently not paying meaningful dividends.

Last Updated: August 25, 2026, 7:25 am
Author: Getaka|Social: XLinkedIn
Stock Ticker - BSE: 532939 | NSE: RPOWER
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 Reliance 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
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