Adani Power share price, P/E, ROE & financials

As of 6 Nov 2026, Adani Power trades at 21.6× trailing earnings, in line with the industry P/E of 21.6×, and the shares are 20% below their 52-week high. Its ROCE of 15% is the highest among the 7 largest Utilities (Independent Power Producers) peers, and sales and net profit grew 13% and 6.2% a year over 3 years. Debt is 0.80× equity. It is a large-cap company with a market cap of ₹3.9 lakh crore, the largest of 15 Utilities (Independent Power Producers) companies by market cap; the shares rose 29% over the past year.

As of 6 Nov 2026Prices are delayed about 15 minutes; fundamentals are from the quarter ended Sep 2026.How we calculate this

past year

Open: ₹202.10
Day high: ₹204.29
Day low: ₹200.10
Prev. close: ₹204.00
Volume: 97.5 L

Health check

2 good · 4 fair

ReturnsAhead
+28.8% over a year, better than 6 of 7 peers.
Price tagIn line
P/E 21.6 vs industry 21.6.
GrowthSteady
Sales +12.5%, profit +6.2% a year over 3 years.
ProfitabilityAverage
ROCE 15.1% vs peer median 7.3%.
Balance sheetFair
Debt 0.80× equity, interest covered 6.2×, Piotroski 4 of 9.
Red flagsNone found
No warning signs in the headline numbers.

Compared with 7 industry peers. Computed from reported figures. Educational, not a recommendation.

Utilities - Independent Power Producers

14 listed peers. Screen the industry

Large cap

₹3.9L Cr, the largest of 15 in its industry.

Defensive

Beta 0.48 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹65,015 Cr · profit ₹18,162 Cr

Market cap: ₹3.9L Cr; Large cap
P/E: 21.6; Industry 21.6
Price to book: 5.13; Peers 2.62
Dividend yield: 0.00%
ROE: 27.0%; Peers 7.8%
ROCE: 15.1%; Peers 7.3%
Debt to equity: 0.80; Debt ₹63,061 Cr
EPS (TTM): ₹9.45; Face value ₹2
OPM (TTM): 38.7%; Net margin 28.0%
Sales growth: +44.5%; Latest quarter vs a year ago
Profit growth: +134.6%; Latest quarter vs a year ago
Price to sales: 6.06; EV/EBITDA 17.6

Strengths

Return on equity of 27.0%.
Quarterly profit up 134.6% on a year ago.
Quarterly sales up 44.5% on a year ago.
Net margin of 28.0%.
Positive operating cash flow in each of the last 4 years.

No obvious red flags in the headline numbers.

Derived automatically from reported figures. Not a recommendation.

About Adani Power

Adani Power Limited engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India. The company generates electricity through thermal energy sources through various power projects with a combined installed and commissioned capacity of 18,150 megawatt (MW). It also operates various coal based power plants comprising 4,620 MW at…

Headquarters: Ahmedabad
Employees: 3,967
Sector: Utilities
ISIN: INE814H01029
Website: adanipower.com

Price range

52 weeks

₹128.10₹254.20

Today

₹200.10₹204.29

Avg volume (3M): 2 Cr
1-year return: plus 28.8%
From 52-week high: minus 19.6%

Analyst consensus

11 analysts

Strong buyMean target ₹242.45 18.7%

Target range, with today’s price

Low ₹210.00High ₹272.00

Today’s price ₹204.29 is below the lowest analyst target.

Consensus from Yahoo Finance. Not a recommendation.

Peers · Utilities - Independent Power Producers

Capital-heavy industry columns

Compare with peers Screen the whole industry

Company
ADANIPOWERAdani Power	204.29	plus 0.14%	3,93,967	21.6	22.0	15.1%	38.7%	0.80	12.5%	plus 28.8%
ADANIENSOLAdani Energy Solutions	1,457.40	plus 0.74%	1,78,233	47.2	24.3	8.4%	31.2%	1.70	27.7%	plus 46.7%
TATAPOWERTata Power Co.	352.50	minus 3.31%	1,12,636	29.2	14.0	8.5%	20.4%	1.68	4.1%	minus 9.0%
JSWENERGYJSW Energy	524.95	plus 0.31%	96,224	41.3	15.9	7.3%	53.4%	2.07	23.5%	minus 0.9%
TORNTPOWERTorrent Power	1,271.10	plus 0.45%	64,051	26.5	13.3	11.9%	19.2%	1.08	4.0%	minus 3.0%
VEDPOWERVedanta Power	35.33	minus 3.07%	13,793	–	19.0	−7.7%	13.9%	0.65	15.7%	minus 13.7%
JPPOWERJaiprakash Power Ventures	13.86	minus 0.29%	9,499	25.2	8.8	6.7%	29.3%	0.23	−1.3%	minus 22.3%
RPOWERReliance Power	18.43	minus 1.44%	7,622	–	9.6	4.5%	30.7%	0.92	0.8%	minus 54.1%
Median of 7 peers	–	−0.29%	64,051	29.2	14.0	7.3%	29.3%	1.08	4.1%	−9.0%

Quarterly results

Consolidated, ₹ crore

SalesSelect a row below to chart it

Jun 25	Dec 25	Mar 26	Jun 26	Sep 26
14,109	12,451	14,223	18,902	19,439
8,424	8,213	9,491	10,953	11,207
5,685	4,238	4,732	7,949	8,231
40.3%	34.0%	33.3%	42.1%	42.3%
465	305	1,766	538	509
857	701	967	901	760
1,089	1,135	1,147	1,167	1,191
–	239	–	–	–
4,204	2,945	4,384	6,418	6,789
21.4%	15.5%	2.6%	24.2%	−3.4%
3,385	2,480	4,017	4,806	6,919
1.72	1.29	2.08	2.49	3.59

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore

Sales CAGR 3Y: +12.5%
Profit CAGR 3Y: +6.2%
EPS CAGR 3Y: +10.4%
ROE: 27.0%

Net profitSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
38,023	50,051	56,132	54,152
–	+31.6%	+12.1%	minus 3.5%
28,111	31,372	34,238	33,848
9,912	18,679	21,893	20,304
26.1%	37.3%	39.0%	37.5%
3,180	8,907	2,047	2,660
3,040	3,079	3,073	2,954
3,304	3,931	4,309	4,565
926	217	−199	54
7,675	20,792	16,360	15,500
−39.8%	−0.2%	22.1%	16.3%
10,727	20,829	12,939	12,834
–	+94.2%	minus 37.9%	minus 0.8%
4.91	10.32	6.46	6.62

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore

Total assetsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
3,857	3,857	3,857	3,857
26,019	39,288	52,490	61,080
42,181	34,431	39,356	54,519
13,765	14,749	17,214	22,824
85,821	92,325	1,12,918	1,42,280
63,423	63,738	81,131	1,04,129
12,880	925	12,104	35,053
319	104	155	61.5
961	3,348	1,481	2,392
8,238	24,210	18,046	644
85,821	92,325	1,12,918	1,42,280

Cash flow

Yearly, ₹ crore

Cash from operationsSelect a row below to chart it

Mar 2023	Mar 2024	Mar 2025	Mar 2026
8,431	14,170	21,501	20,514
1,544	3,482	−17,142	−26,461
−10,408	−16,864	−5,175	6,555
−434	788	−816	608
−3,244	−2,602	−11,559	−23,350
5,187	11,568	9,942	−2,836

Shareholding pattern

Source: NSE filings

75.0%

promoters

Promoters74.96%
Public25.04%
As of 30 Sep 2026

Quarter	Promoters	Public	Promoter change
30 Sep 2026	74.96%	25.04%	0.00
30 Jun 2026	74.96%	25.04%	0.00
31 Mar 2026	74.96%	25.04%	0.00
31 Dec 2025	74.96%	25.04%	0.00
30 Sep 2025	74.96%	25.04%	–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you