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RattanIndia Power (RTNPOWER) had a P/E of 19.5× on 6 Nov 2026, below the industry P/E of 21.6×, and the shares are 38% below their 52-week high. Sales fell 2.5% a year over 3 years; its ROCE of 6.1% is the second-lowest among the 7 largest Utilities (Independent Power Producers) peers. Debt is 0.79× equity. It is a small-cap company with a market cap of ₹3,566 Cr, ranked 10th of 15 Utilities (Independent Power Producers) companies by market cap; the shares fell 38% 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
₹6.69
Day high
₹6.71
Day low
₹6.55
Prev. close
₹6.72
Volume
1 Cr

Health check

1 fair · 5 to check
  • ReturnsBehind

    −37.8% over a year, better than 0 of 7 peers.

  • Price tagIn line

    P/E 19.5 vs industry 21.6.

  • GrowthShrinking

    Sales −2.5% a year over 3 years.

  • ProfitabilityWeak

    ROCE 6.1% vs peer median 8.4%.

  • Balance sheetStretched

    Debt 0.79× equity, interest covered 1.1×, Piotroski 3 of 9.

  • Red flags3 to check

    Return on equity is low at 3.9%.

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

Utilities - Independent Power Producers

14 listed peers. Screen the industry

Small cap

₹3,566 Cr, #10 of 15 in its industry by size.

Defensive

Beta 0.44 vs the NIFTY 50: moves less than the market.

Key metrics

Last 12 months to Sep 2026: sales ₹3,017 Cr · profit ₹181 Cr
Market cap
₹3,566 Cr
Small cap
P/E
19.5
Industry 21.6
Price to book
0.77
Peers 2.85
Dividend yield
0.00%
ROE
3.9%
Peers 10.0%
ROCE
6.1%
Peers 8.4%
Debt to equity
0.79
Debt ₹3,735 Cr
EPS (TTM)
₹0.34
Face value ₹10
OPM (TTM)
15.9%
Net margin 6.0%
Sales growth
+7.5%
Latest quarter vs a year ago
Profit growth
n/a
Year-ago quarter not reported
Price to sales
1.18
EV/EBITDA 14.9

Strengths and risks

Strengths

  • Positive operating cash flow in each of the last 4 years.

Risks to check

  • Return on equity is low at 3.9%.
  • 38% below its 52-week high.
  • Interest coverage of only 0.9×.

Derived automatically from reported figures. Not a recommendation.

About RattanIndia Power

RattanIndia Power Limited, together with its subsidiary, Poena Power Development Limited, engages in power generation, distribution, trading and transmission, and other ancillary and incidental activities in India. It generates electricity through coal-based thermal power plants with an installed capacity of 2,700 MW located in Amravati and Nasik cities. The company also trades electricity in the open market. The company was formerly known as Indiabulls…

Headquarters
New Delhi
Employees
545
Sector
Utilities
ISIN
INE399K01017
Website
rattanindiapower.com

Price range

52 weeks

₹5.88₹10.78

Today

₹6.55₹6.71
Avg volume (3M)
1.6 Cr
1-year return
minus 37.8%
From 52-week high
minus 38.4%

Peers · Utilities - Independent Power Producers

Capital-heavy industry columns

Compare with peersScreen the whole industry
Company
ADANIPOWERAdani Power204.29plus 0.14%3,93,96721.622.015.1%38.7%0.8012.5%plus 28.8%
ADANIENSOLAdani Energy Solutions1,457.40plus 0.74%1,78,23347.224.38.4%31.2%1.7027.7%plus 46.7%
TATAPOWERTata Power Co.352.50minus 3.31%1,12,63629.214.08.5%20.4%1.684.1%minus 9.0%
JSWENERGYJSW Energy524.95plus 0.31%96,22441.315.97.3%53.4%2.0723.5%minus 0.9%
TORNTPOWERTorrent Power1,271.10plus 0.45%64,05126.513.311.9%19.2%1.084.0%minus 3.0%
VEDPOWERVedanta Power35.33minus 3.07%13,793–19.0−7.7%13.9%0.6515.7%minus 13.7%
JPPOWERJaiprakash Power Ventures13.86minus 0.29%9,49925.28.86.7%29.3%0.23−1.3%minus 22.3%
RTNPOWERRattanIndia Power6.64minus 1.19%3,56619.518.46.1%5.2%0.79−2.5%minus 37.8%
Median of 7 peers–0.14%96,22427.815.98.4%29.3%1.0812.5%−3.0%

Quarterly results

Consolidated, ₹ crore
SalesSelect a row below to chart it
₹ CrJun 25Dec 25Mar 26Jun 26Sep 26
822728788799703
725601658674605
96.712713012598.1
11.8%17.5%16.5%15.6%14.0%
98.998.767.467.984.9
14811090.785.982.9
60.561.463.561.161.7
−13.154.342.845.938.4
−13.154.342.845.938.4
-0.020.100.080.090.07

Sep 25 not reported by the data source.

Profit & loss

Yearly, ₹ crore
Sales CAGR 3Y
−2.5%
ROE
3.9%
Net profitSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
3,2313,3643,2842,991
–+4.1%minus 2.4%minus 8.9%
2,4782,6982,6982,572
753666586419
23.3%19.8%17.8%14.0%
289297330325
2,4892,323453444
404382241246
1.710,619−0.1−1.4
−1,8498,87622252.4
−1.1%−0.2%––
−1,8708,89722252.4
––minus 97.5%minus 76.4%
-3.4816.570.410.10

Forecast

Your assumptions, not a prediction

Balance sheet

At each financial year end, ₹ crore
Total assetsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
5,3705,3705,3705,370
−9,903−1,006−785−732
21,0214,4384,1894,227
8847641,022749
17,3729,5669,7969,613
14,1706,4836,3226,124
1,11071.465.421.5
66.3195196201
57.937736475.4
1,9682,4402,8493,191
17,3729,5669,7969,613

Cash flow

Yearly, ₹ crore
Cash from operationsSelect a row below to chart it
₹ CrMar 2023Mar 2024Mar 2025Mar 2026
1,0151,306410372
−5.3−46286.965.6
−977−902−440−605
33.2−57.856.8−168
−30.8−98.6−117−77.9
9851,207293294

Shareholding pattern

Source: NSE filings
44.1%
promoters
  • Promoters44.06%
  • Public55.94%
  • As of 30 Sep 2026
QuarterSplitPromotersPublicPromoter change
30 Sep 202644.06%55.94%0.00
30 Jun 202644.06%55.94%0.00
31 Mar 202644.06%55.94%0.00
31 Dec 202544.06%55.94%0.00
30 Sep 202544.06%55.94%–

Major shareholders

NSE filing

Filings & events

News

No recent news coverage found.

My notes

Private to you