A deep dive into Adani Power Ltd. (ADANIPOWER) — examining the financials, valuation picture, and who owns the stock.
Adani Power Revenue Trend
The numbers weren't encouraging on the revenue front: Adani Power Ltd. reported ₹57,865 Cr in FY2026, 1.8% below FY2025 levels.
Stepping back, the 10-year revenue CAGR of 8.7% shows Adani Power Ltd. has been growing at a moderate, sustainable pace.
A ₹57,865 Cr revenue base makes Adani Power Ltd. a major name in the Indian power sector.
| Year | Revenue | YoY % |
|---|---|---|
| FY2026 | ₹57,865 Cr | -1.8% |
| FY2025 | ₹58,906 Cr | -2.3% |
| FY2024 | ₹60,281 Cr | +40.1% |
| FY2023 | ₹43,041 Cr | +35.8% |
| FY2022 | ₹31,686 Cr | — |
View Adani Power Ltd.'s full 10-year revenue trend with CAGR analysis →
Adani Power Profitability
A 1.7% improvement in net profit took Adani Power Ltd.'s bottom line to ₹12,971 Cr in FY2026.
Net margin expanded to 22.4% in FY2026, up from 21.6% a year prior.
Diluted EPS came in at ₹6.62 for FY2026, up from ₹6.46 a year earlier.
Is Adani Power Undervalued
Using the P/E Ratio methodology, the calculated intrinsic value comes to ₹145.
Adani Power Ltd. shares are currently trading at ₹215.46.
Craytheon also calculates intrinsic value using the EPS Growth model. The full breakdown with assumptions is available in the detailed analysis.
| Model | Est. Fair Value | vs. Current Price |
|---|---|---|
| P/E Ratio | ₹145 | 32.7% downside to fair value |
| EPS Growth | Upgrade | Upgrade |
See all valuation models for Adani Power Ltd. with detailed assumptions →
Adani Power Shareholding Pattern
A stable promoter holding of 75.0% over 4 quarters suggests the management group is comfortable with its position.
As of June 2026, FIIs own 11.8% of the company — up from 11.5% a year earlier.
DII holding is at 4.1%, up from 2.7% in the year-ago quarter.
| Quarter | Promoter | FII | DII | Public |
|---|---|---|---|---|
| Jun 2026 | 75.0% | 11.8% | 4.1% | 9.2% |
| Mar 2026 | 75.0% | 11.7% | 3.7% | 9.6% |
| Dec 2025 | 75.0% | 11.6% | 3.4% | 10.0% |
| Sep 2025 | 75.0% | 11.5% | 2.7% | 10.8% |
Track quarterly shareholding changes for Adani Power Ltd. →
Adani Power Balance Sheet
Proportional view as of 13 Jul 2026. Hover blocks for details.
Assets
Liabilities & Equity
FY2026 total assets: ₹1,422.80B (up 26.0% YoY from ₹1,129.18B).
Top categories: Property, Plant & Equipment (71.6%), Other Assets (15.7%), Receivables (8.3%).
Of the ₹1,422.80B in liabilities and equity, 46.7% is shareholder equity, 38.4% is interest-bearing debt, and 14.9% is operating liabilities. Over the year, debt is up 38.4% and equity is up 15.1%.
Balance sheet composition — FY 2026
| Category | Value |
|---|---|
| Cash & ST Investments | 24.19B |
| Receivables | 117.91B |
| Inventories | 36.23B |
| Property, Plant & Equipment | 1,018.68B |
| Investments | 246.40M |
| Intangibles & Goodwill | 2.33B |
| Other Assets | 223.20B |
| Category | Value |
|---|---|
| Equity | 664.02B |
| Short-term Debt | 107.91B |
| Long-term Debt | 438.79B |
| Trade Payables | 28.41B |
| Other Liabilities | 183.67B |
Adani Power — The Bottom Line
Here's the bottom line on Adani Power Ltd. (ADANIPOWER) based on the latest available financials.
Revenue of ₹57,865 Cr in FY2026, down 1.8% year-over-year.
Long-term revenue has been compounding at 8.7% annually over 10 years.
The company is profitable, with a net margin of 22.4% and net income of ₹12,971 Cr.
The P/E Ratio model implies 32.7% downside to fair value from the current price. The remaining two models are worth cross-checking before drawing a conclusion — sign up to see the full analysis.
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