Adani Power Limited NSEI ADANIPOWER Financials

Adani Power Limited (NSEI:ADANIPOWER) > Financials > Key Stats
In Millions of the trading currency, except per share items. Currency: Trading Currency Conversion: Historical
Order: Latest on Right Units: S&P Capital IQ (Default)
Decimals: Capital IQ (Default) Dilution: Basic
Key Financials¹
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months 12 months
Mar-31-2017A Mar-31-2018A Mar-31-2019A Mar-31-2020A Mar-31-2021A Mar-31-2022A
Currency INR INR INR INR INR INR
Total Revenue 226,155.1 203,042.8 238,841.8 264,677.2 262,214.8 277,111.8

Growth Over Prior Year (11.4%) (10.2%) 17.6% 10.8% (0.9%) 5.7%
Gross Profit 74,939.4 71,024.4 64,088.2 72,807.6 98,960.7 112,332.4

Margin % 33.1% 35.0% 26.8% 27.5% 37.7% 40.5%
EBITDA 60,666.7 58,705.2 54,466.9 59,220.1 86,764.0 99,187.4

Margin % 26.8% 28.9% 22.8% 22.4% 33.1% 35.8%
EBIT 33,970.5 31,746.1 26,987.6 29,399.2 55,035.6 68,284.5

Margin % 15.0% 15.6% 11.3% 11.1% 21.0% 24.6%
Earnings from Cont. Ops. (61,741.0) (21,029.5) (9,844.0) (22,747.7) 12,699.8 49,115.8
Margin % (27.3%) (10.4%) (4.1%) (8.6%) 4.8% 17.7%
Net Income (61,741.0) (21,029.5) (9,844.0) (22,747.7) 12,699.8 49,115.8

Margin % (27.3%) (10.4%) (4.1%) (8.6%) 4.8% 17.7%
Diluted EPS Excl. Extra Items³ (17.82) (5.45) (3.21) (8.19) 0.06 9.63
Growth Over Prior Year NM NM NM NM NM 14,790.4%

Exchange Rate 1.0 1.0 1.0 1.0 1.0 1.0
Conversion Method H H H H H H
¹All results are taken from the most recently filed statement for each period. When there has been more than one, earlier filings can be viewed on the individual statement pages.
²Growth rates for the LTM period are calculated against the LTM period ending 12 months before.
Growth Rates are calculated in originally reported currency only and will not reflect any currency conversion selected above.
Current Capitalization (Millions of INR)
Currency INR
Share Price 398.4
Shares Out. 3,856.9
Market Capitalization 1,536,604.5

- Cash & Short Term Investments 9,607.7
+ Total Debt 423,495.3
+ Pref. Equity 2,465.5
+ Total Minority Interest -
- Long Term Marketable Securities -
= Total Enterprise Value (TEV) 1,952,957.6
Book Value of Common Equity 296,291.1

+ Pref. Equity 2,465.5
+ Total Minority Interest -
+ Total Debt 423,495.3
= Total Capital 722,251.9
**For companies that have multiple share classes that publicly trade,
we are incorporating the different prices to calculate our company level
market capitalization. Please click on the value to see the detailed
calculation. Prices shown on this page are the close price of the
company’s primary stock class. Shares shown on this page are total
company as-reported share values.
Total Liability includes Total Debt, Minority Interest and Pref. Equity.
Net Liability includes Total Liability, net of Cash and Short Term Investments.
TEV includes Market Cap and Net Liability.
Total Capital includes Common Equity and Total Liability.
Valuation Multiples based on Current Capitalization
LTM
Press Release
For the Fiscal Period Ending 12 months 12 months 12 months 12 months 12 months
Mar-31-2020A Mar-31-2021A Mar-31-2022A Mar-31-2023A Jun-30-2023A
TEV/Total Revenue 7.4x 7.4x 7.0x 5.0x 5.4x
TEV/EBITDA 32.9x 22.4x 19.6x 19.1x 24.6x
TEV/EBIT 66.4x 35.5x 28.6x 28.2x 42.4x
P/Diluted EPS Before Extra NM NM 41.4x 16.2x 11.3x
P/BV NM NM 29.3x 9.4x 9.4x
Price/Tang BV NM NM 30.5x 9.5x 9.5x

LTM²
Press Release
12 months 12 months
Mar-31-2023A Jun-30-2023A
INR INR
387,733.0 360,557.8
39.9% 3.4%
119,667.2 96,758.2
30.9% 26.8%
102,030.7 79,251.8
26.3% 22.0%
69,281.6 46,041.1
17.9% 12.8%
107,266.4 147,062.0
27.7% 40.8%
107,266.4 147,062.0
27.7% 40.8%
24.57 35.18
155.1% 76.7%
INR INR
1.0 1.0
H H
Adani Power Limited (NSEI:ADANIPOWER) > Financials > Income Statement
In Millions of the reported currency, except per share items. Template: Utility Restatement: Latest Filings
Period Type: Annual Order: Latest on Right
Currency: Reported Currency Conversion: Historical
Units: S&P Capital IQ (Defaul Decimals: Capital IQ (Default)
Source: Capital IQ & Proprietar
Income Statement
LTM
Reclassified Reclassified Press Release
Mar-31-2019 Mar-31-2020 Mar-31-2021 Mar-31-2022 Mar-31-2023 Jun-30-2023
Revenue 238,841.8 264,677.2 262,214.8 277,111.8 387,733.0 360,557.8

Other Revenue - - - - - -
Total Revenue 238,841.8 264,677.2 262,214.8 277,111.8 387,733.0 360,557.8
Fuel & Purchased Power 159,492.8 175,803.9 147,811.5 147,622.1 254,808.5 251,030.8
Ops. and Maintenance 2,788.8 5,176.5 5,146.5 5,274.0 5,919.8 5,919.8
Selling General & Admin Exp. 206.4 61.8 61.0 56.9 106.0 106.0
Depreciation & Amort. 27,506.2 30,065.0 32,016.5 31,175.4 33,036.8 34,222.2
Provision for Bad Debts 1,181.8 - - - - -
Other Operating Exp. 20,678.2 24,170.8 22,143.7 24,698.9 24,580.3 23,237.9
Total Operating Exp. 211,854.2 235,278.0 207,179.2 208,827.3 318,451.4 314,516.7
Operating Income 26,987.6 29,399.2 55,035.6 68,284.5 69,281.6 46,041.1
Interest Expense, Total (54,556.8) (52,449.7) (46,475.8) (38,719.8) 30,401.6 (31,002.2)

Interest and Invest. Income 19,952.2 9,637.2 10,454.7 35,591.0 36,202.9 36,202.9
Net Interest Exp. (34,604.6) (42,812.5) (36,021.1) (3,128.8) 5,801.3 5,200.7
Currency Exchange Gains (Loss) (5,317.2) (3,681.8) 1,716.4 (1,271.8) (3,707.7) (3,707.7)
Other Non-Operating Inc. (Exp.) 2,309.9 4,534.8 (725.2) 2,341.7 5,474.9 58,650.2
EBT Excl. Unusual Items (10,624.3) (12,560.3) 20,005.7 66,225.6 76,850.1 106,184.3
Impairment of Goodwill - - - - - -
Gain (Loss) On Sale Of Assets (295.8) (483.4) (196.4) (672.5) (516.8) (516.8)
Total Insurance Settlements 1,083.3 - - - - -
Other Unusual Items 78.2 (9,605.5) 3,078.1 218.2 413.7 413.7
EBT Incl. Unusual Items (9,758.6) (22,649.2) 22,887.4 65,771.3 76,747.0 106,081.2
Income Tax Expense 85.4 98.5 10,187.6 16,655.5 (30,519.4) (40,980.8)
Earnings from Cont. Ops. (9,844.0) (22,747.7) 12,699.8 49,115.8 107,266.4 147,062.0
Earnings of Discontinued Ops. - - - - - -

Extraord. Item & Account. Change - - - - - -
Net Income to Company (9,844.0) (22,747.7) 12,699.8 49,115.8 107,266.4 147,062.0
Minority Int. in Earnings - - - - - -

Net Income (9,844.0) (22,747.7) 12,699.8 49,115.8 107,266.4 147,062.0
Pref. Dividends and Other Adj. 2,546.5 8,842.5 12,450.4 11,979.5 12,516.5 12,516.5
NI to Common Incl Extra Items (12,390.5) (31,590.2) 249.4 37,136.3 94,749.9 134,545.5
NI to Common Excl. Extra Items (12,390.5) (31,590.2) 249.4 37,136.3 94,749.9 134,545.5
Per Share Items

Basic EPS (3.21) (8.19) 0.06 9.63 24.57 35.18
Basic EPS Excl. Extra Items (3.21) (8.19) 0.06 9.63 24.57 35.18
Weighted Avg. Basic Shares Out. 3,856.9 3,856.9 3,856.9 3,856.9 3,856.9 3,825.0
Diluted EPS (3.21) (8.19) 0.06 9.63 24.57 35.18

Diluted EPS Excl. Extra Items (3.21) (8.19) 0.06 9.63 24.57 35.18
Weighted Avg. Diluted Shares Out. 3,856.9 3,856.9 3,856.9 3,856.9 3,856.9 3,825.0
Normalized Basic EPS (1.72) (2.04) 3.24 10.73 12.45 17.35

Normalized Diluted EPS (1.72) (2.04) 3.24 10.73 12.45 17.35
Dividends per Share NA NA NA NA NA NA

Payout Ratio % NM NM 30.0% 12.0% 6.2% NA
Supplemental Items
Utility Revenue 233,501.0 259,508.6 258,001.5 271,655.0 378,300.0 351,124.8
Non-Utility Revenue 30,115.3 18,909.5 23,495.3 45,209.7 52,105.2 105,280.5
EBITDA 54,466.9 59,220.1 86,764.0 99,187.4 102,030.7 79,251.8
EBITA 26,987.6 29,399.2 55,035.6 68,284.5 69,281.6 46,041.1
EBIT 26,987.6 29,399.2 55,035.6 68,284.5 69,281.6 46,041.1
EBITDAR 54,673.3 59,281.9 86,825.0 99,244.3 102,136.7 NA
As Reported Total Revenue* 263,616.3 278,418.1 281,496.8 316,864.7 430,405.2 456,405.3
Effective Tax Rate % NM NM 44.5% 25.3% NM NM
Current Domestic Taxes 682.6 173.5 213.7 7,682.3 (7,676.0) (7,676.0)
Total Current Taxes 682.6 173.5 213.7 7,682.3 (7,676.0) (13,803.3)
Deferred Domestic Taxes (597.2) (75.0) 9,973.9 8,973.2 (22,843.4) (22,843.4)
Total Deferred Taxes (597.2) (75.0) 9,973.9 8,973.2 (22,843.4) (27,177.5)
Normalized Net Income (6,640.2) (7,850.2) 12,503.6 41,391.0 48,031.3 66,365.2

Interest on Long Term Debt NA 89.8 112.7 98.6 94.1 NA
Non-Cash Pension Expense 11.9 21.0 21.7 31.3 44.4 -
Filing Date Jun-01-2020 Jun-18-2021 Jul-05-2022 Jun-27-2023 Jun-27-2023 Aug-03-2023
Restatement Type RC RC NC NC O P
Calculation Type REP REP REP REP REP LTM
Supplemental Operating Expense Items

Net Rental Exp. 206.4 61.8 61.0 56.9 106.0 NA
Imputed Oper. Lease Interest Exp. 180.1 50.7 42.0 34.7 56.5 -
Imputed Oper. Lease Depreciation 26.3 11.1 19.0 22.2 49.5 -
Maintenance & Repair Exp. 2,788.8 5,176.5 5,146.5 5,274.0 5,919.8 NA
* Occasionally, certain items classified as Revenue by the company will be re-classified as other income if it is deemed to be non-recurring and unrelated to the core business of the firm. This field shows Total Revenue exa
Note: For multiple class companies, per share items are primary class equivalent, and for foreign companies listed as primary ADRs, per share items are ADR-equivalent.
285,414.60
Revenue exactly as reported by the firm on its consolidated statement of income.
Terminal Growth 20%
WACC 10.21%
Particulars 2023 2024 2025

1 2
Revenue (Lakhs) 387,733.0 496,686.0 636,254.7
%YOY Growth 28.10% 28.10%
RD 0 0 0
Less: Operating Expenses (excluding Dep. But including R&D) 285,414.6 365,616.10 468,354.23
EBITDA 102,318.40 131,069.87 167,900.50
EBITDA Margin 26.39% 26.39% 26.39%
%YOY Growth 24.76% 24.76%
Less: Depreciation and Amortisation 34,222.2 43,838.64 56,157.30
EBIT 68,096.20 87,231.23 111,743.21
EBIT Margin 17.56% 17.56% 17.56%
%YOY Growth 24.76% 24.76%
Tax (30,519.4) -39,095.35 -50,081.15
Effective Tax Rate (Current Tax/Profit Before Tax) -44.82% -44.82% -44.82%
EBIT(1-T) 98,615.60 126,326.58 161,824.35
NOPAT Margin 25.43% 25.43% 25.43%
%YOY Growth 24.76% 24.76%
Less: Exceptional Items after tax 0 0 0
Adjusted EBIT(1-t) 98,615.60 126,326.58 161,824.35
Less: Net Capex (capex - depreciation) -31,128.10 -39,875.10 -51,080.00
Less: Change in Non-cash WC 25,613.0 32,810.25 42,029.93
FCFF 104,130.70 133,391.43 170,874.42
FCFF Margin 26.86% 26.86% 26.86%
%YOY Growth 24.76% 24.76%
PV of FCFF 121,031.18 140,674.62
Value of Enterprise 1,267,171.09
2026 2027 2028 TV
3 4 5
815,042.3 1,044,069.2 1,337,452.6 1,604,943.2
28.10% 28.10% 28.10% 20%
0 0 0 0
599,961.77 768,551.02 984,513.86 1,181,416.63
215,080.55 275,518.18 352,938.79 423,526.54
26.39% 26.39% 26.39% 26.39%
24.76% 24.76% 24.76% 18.23%
71,937.50 92,151.93 118,046.62 141,655.95
143,143.05 183,366.25 234,892.16 281,870.60
17.56% 17.56% 17.56% 17.56%
24.76% 24.76% 24.76% 18.23%
-64,153.95 -82,181.21 -105,274.12 -126,328.95
-44.82% -44.82% -44.82% -44.82%
207,297.00 265,547.45 340,166.29 408,199.54
25.43% 25.43% 25.43% 25.43%
24.76% 24.76% 24.76% 18.23%
0 0 0 0
207,297.00 265,547.45 340,166.29 408,199.54
-65,433.48 -83,820.28 -107,373.78 -128,848.54
53,840.35 68,969.48 88,349.91 106,019.89
218,890.13 280,398.26 359,190.16 431,028.20
26.86% 26.86% 26.86%
24.76% 24.76% 24.76%
163,506.20 190,043.36 220,887.53
Particulars Amount
Market Risk Premium 8.33%

Risk Free Rate 8.65%
Beta 1.3
Cost of Equity 19.48%

Cost of Debt 3.68%
Interest
Pre tax cost of debt as per balance sheet 6.66%
Paid/Average Debt
Book Value Weights

Equity 298756.6
Debt 423495.3
Weight of Debt 58.64%
Weight of Equtiy 41.36%
WACC 10.21%
Market Value Weights

No. of outstanding Shares
Market Price of Share
Market Value of Equity
Equity
Market Value of Debt
Debt
Weight of Equity
Weight of Debt
WACC
Adani Power Limited (NSEI:ADANIPOWER) > Financials > Balance Sheet
Balance Sheet
Balance Sheet as of: Restated Press Release
ASSETS
Cash And Equivalents 245.4 9,411.0 1,130.4 7,823.7 3,492.3 -
Short Term Investments - 95.6 6.1 44.4 - -
Trading Asset Securities 27.1 27.9 200.9 1,832.4 6,115.4 -
Accounts Receivable 99,917.6 87,208.4 119,263.4 95,632.6 115,295.4 -

Other Receivables 423.0 649.4 846.8 664.0 467.4 -
Accounts Receivable, Total 100,340.6 87,857.8 120,110.2 96,296.6 115,762.8 -
Inventory 17,889.2 32,842.0 28,438.1 36,158.7 47,670.5 -

Prepaid Exp. 765.5 1,147.0 806.6 1,080.4 1,065.6 -
Loans Receivable Current 57.0 30.5 88.3 76.2 31.9 -
Other Current Assets 12,700.5 14,520.0 25,642.9 18,968.3 21,391.5 -
Total Current Assets 132,025.3 145,931.8 176,423.5 162,280.7 195,530.0 -
Gross Property, Plant & Equipment 620,048.6 723,357.0 766,111.3 839,946.6 872,644.1 -
Accumulated Depreciation (114,305.3) (144,178.3) (175,964.7) (206,533.0) (238,410.7) -
Net Property, Plant & Equipment 505,743.3 579,178.7 590,146.6 633,413.6 634,233.4 -
Goodwill 1,906.1 1,906.1 1,906.1 1,906.1 1,906.1 -

Other Intangibles 39.0 841.0 854.5 119.8 120.3 -
Long-term Investments 189.7 - - 22.0 425.0 -
Accounts Receivable Long-Term - 873.7 1,662.7 2,622.9 - -
Loans Receivable Long-Term 15,841.8 - - - - -
Deferred Tax Assets, LT 253.8 - - - - -
Other Long-Term Assets 23,847.0 21,518.7 17,065.7 19,445.1 25,997.9 -
Total Assets 679,846.0 750,250.0 788,059.1 819,810.2 858,212.7 -
LIABILITIES
Accounts Payable 63,617.4 55,960.5 38,031.3 35,082.1 30,794.5 -
Accrued Exp. 4,449.8 5,648.4 1,888.4 1,894.0 2,428.3 -
Short-term Borrowings 70,737.2 78,018.1 96,833.2 72,403.7 56,715.8 -
Curr. Port. of LT Debt 34,959.0 28,306.1 27,851.9 36,881.7 28,778.7 -
Curr. Port. of Leases - 142.3 78.4 83.9 91.6 -
Curr. Income Taxes Payable 681.5 299.7 457.1 6,453.2 4.9 -
Unearned Revenue, Current 3,041.8 3,041.8 3,041.9 3,041.9 3,041.8 -
Other Current Liabilities 4,111.3 10,474.6 19,091.3 15,596.2 55,590.3 -
Total Current Liabilities 181,598.0 181,891.5 187,273.5 171,436.7 177,445.9 -
Long-Term Debt 364,102.7 445,987.5 399,662.5 378,713.2 337,026.0 -

Long-Term Leases - 928.2 995.7 943.6 883.2 -
Unearned Revenue, Non-Current 53,994.1 50,953.5 47,912.8 44,872.1 41,831.5 -
Pension & Other Post-Retire. Benefits 381.1 439.2 546.4 683.0 814.6 -
Def. Tax Liability, Non-Curr. 1,784.9 2,660.7 13,280.8 24,997.8 - -
Other Non-Current Liab., Total 862.3 2,584.9 7,261.4 11,129.4 1,454.9 -
Total Liabilities 602,723.1 685,445.5 656,933.1 632,775.8 559,456.1 -
Pref. Stock, Redeemable - - - 2,465.5 2,465.5 -

Total Pref. Equity - - - 2,465.5 2,465.5 2,465.5
Common Stock 38,569.4 38,569.4 38,569.4 38,569.4 38,569.4 -

Additional Paid In Capital 74,098.3 74,098.3 74,098.3 74,098.3 74,098.3 -
Retained Earnings (119,142.8) (147,999.3) (139,121.9) (95,734.5) 4,861.2 -
Treasury Stock - - - - - -
Comprehensive Inc. and Other 83,598.0 100,136.0 157,580.1 167,635.7 178,762.2 -
Total Common Equity 77,122.9 64,804.4 131,125.9 184,568.9 296,291.1 296,291.1
Minority Interest - 0.1 0.1 - - -
Total Equity 77,122.9 64,804.5 131,126.0 187,034.4 298,756.6 298,756.6
Total Liabilities And Equity 679,846.0 750,250.0 788,059.1 819,810.2 858,212.7 -
Supplemental Items
Total Shares Out. on Filing Date 3,856.9 3,856.9 3,856.9 3,856.9 3,856.9 3,999.7
Total Shares Out. on Balance Sheet Date 3,856.9 3,856.9 3,856.9 3,856.9 3,856.9 3,856.9
Book Value/Share (0.75) (5.53) 1.29 13.59 42.56 42.56
Tangible Book Value 75,177.8 62,057.3 128,365.3 182,543.0 294,264.7 294,264.7
Tangible Book Value/Share (1.25) (6.25) 0.57 13.07 42.03 42.03
Total Debt 469,798.9 553,382.2 525,421.7 489,026.1 423,495.3 423,495.3
Net Debt 469,526.4 543,847.7 524,084.3 479,325.6 413,887.6 413,887.6
Debt Equiv. of Unfunded Proj. Benefit Obligation 281.4 336.5 467.5 653.7 815.9 NA
Debt Equivalent Oper. Leases 1,651.2 494.4 488.0 455.2 848.0 NA
Total Minority Interest NA 0.1 0.1 NA NA NA
Inventory Method FIFO FIFO FIFO Avg Cost Avg Cost NA
Raw Materials Inventory 7,346.8 19,575.3 15,841.0 17,788.0 25,251.1 NA
Other Inventory Accounts 4,894.0 5,652.4 4,410.1 4,794.7 5,500.9 NA
Land 8,213.2 7,973.8 8,738.9 10,171.8 10,853.9 NA
Buildings 14,968.7 24,152.0 17,248.3 16,334.1 18,996.9 NA
Machinery 590,817.1 658,562.6 664,037.2 697,675.5 700,051.6 NA
Construction in Progress 3,500.8 23,467.7 64,394.2 102,697.4 128,795.4 -
Full Time Employees 2,442 2,980 2,936 2,737 3,295 NA
Filing Date Jun-01-2020 Jun-18-2021 Jul-05-2022 Jun-27-2023 Jun-27-2023 NA
Restatement Type NC NC RS NC O NV
Calculation Type REP REP REP REP REP FWD
Note: For multiple class companies, total share counts are primary class equivalent, and for foreign companies listed as primary ADRs, total share counts are ADR-equivalent.
142%
Adani Power Limited (NSEI:ADANIPOWER) > Financials > Cash Flow
Cash Flow
LTM
Press Release
Net Income (9,844.0) (22,747.7) 12,699.8 49,115.8 107,266.4 -

Depreciation & Amort. 27,479.3 30,041.9 31,974.2 31,140.9 32,998.1 -
Depreciation & Amort., Total 27,479.3 30,041.9 31,974.2 31,140.9 32,998.1 -
Other Amortization 26.9 23.1 42.3 34.5 38.7 -

(Gain) Loss On Sale of Assets 295.8 483.4 196.4 672.5 516.8 -
(Gain) Loss On Sale Of Invest. - - - - (6,944.5) -
Provision & Write-off of Bad debts 1,241.7 2,168.4 430.5 4.2 426.5 -
Change in Acc. Receiv. (15,945.7) 12,524.5 1,888.6 9,809.8 (29,952.5) -
Change In Inventories (3,501.0) (12,332.9) 3,854.7 (2,622.9) (8,290.6) -
Change in Acc. Payable (14,471.8) (11,048.6) (14,885.2) (3,680.6) (4,231.6) -
Change in Other Net Operating Assets 34,714.0 6,426.2 (7,312.3) (460.2) 28,968.7 -
Other Operating Activities 36,108.6 50,437.2 41,254.5 18,313.3 (36,490.7) -
Cash from Ops. 56,103.8 55,975.5 70,143.5 102,327.3 84,305.3 -
Capital Expenditures (12,115.3) (22,265.6) (36,176.1) (34,345.5) (32,436.8) -

Sale of Property, Plant and Equipment 25.5 67.2 99.6 12.4 8.3 -
Cash Acquisitions (3,238.3) (10.0) - (10.0) (7,271.6) -
Divestitures - - - - 9,889.0 -
Nuclear Fuel Expenditures - - - - - -
Cont. To Nuclear Decomm. Trust - - - - - -
Net Cash from Investments (1,333.3) (1,479.2) 13,349.6 (807.8) (4,577.0) -
Net (Increase)/Decrease in Loans Orig/Sold (1,962.7) (851.4) - - - -
Deferred Charges - - - - - -
Total Other Investing Activities 8,781.7 1,257.9 851.2 40,872.0 49,832.4 -
Cash from Investing (9,842.4) (23,281.1) (21,875.7) 5,721.1 15,444.3 -
Short Term Debt Issued - - 7,045.0 - - -
Long-Term Debt Issued 255,597.5 213,194.4 225,584.4 133,321.6 212,054.1 -
Total Debt Issued 255,597.5 213,194.4 232,629.4 133,321.6 212,054.1 -
Short Term Debt Repaid (9,301.9) (5,177.9) - (18,315.8) (12,000.5) -
Long-Term Debt Repaid (259,912.2) (183,111.5) (251,375.4) (179,021.1) (269,542.6) -
Total Debt Repaid (269,214.1) (188,289.4) (251,375.4) (197,336.9) (281,543.1) -
Issuance of Common Stock 54,500.0 6,150.0 4,000.0 6,000.0 5,664.9 -

Repurchase of Common Stock (29,000.0) - - - - -
Common Dividends Paid (1,849.0) (6,120.1) (3,803.6) (5,898.3) (6,611.7) -

Total Dividends Paid (1,849.0) (6,120.1) (3,803.6) (5,898.3) (6,611.7) -
Special Dividend Paid - - - - - -

Other Financing Activities (56,668.8) (48,706.7) (37,998.8) (39,465.0) (33,648.8) -
Cash from Financing (46,634.4) (23,771.8) (56,548.4) (103,378.6) (104,084.6) -
Foreign Exchange Rate Adj. 0.2 0.3 - - - -

Misc. Cash Flow Adj. 2.0 242.7 - 2,023.5 3.6 -
Net Change in Cash (370.8) 9,165.6 (8,280.6) 6,693.3 (4,331.4) -
Supplemental Items
Cash Interest Paid 56,668.8 48,706.7 37,998.8 39,465.0 33,648.8 NA
Cash Taxes Paid 87.6 578.2 55.5 2,243.4 786.5 NA
Net Debt Issued (13,616.6) 24,905.0 (18,746.0) (64,015.3) (69,489.0) NA
Levered Free Cash Flow (16,242.8) (11,728.5) (50,413.5) 37,371.1 21,350.3 NA
Unlevered Free Cash Flow 17,855.3 21,052.6 (21,366.2) 61,571.0 40,351.3 NA
Change In Net Working Capital 14,402.9 5,121.3 51,603.8 (22,063.3) 3,549.7 NA
Filing Date Jun-01-2020 Jun-18-2021 Jul-05-2022 Jun-27-2023 Jun-27-2023 Aug-03-2023
Restatement Type NC NC NC NC O NV
Calculation Type REP REP REP REP REP NA
25,613.0
Adani Power Limited (NSEI:ADANIPOWER) > Financials > Historical Capitalization
In Millions of the trading currency, except per share items. Frequency: Quarterly Order: Latest on Right
Currency: Trading Currency Conversion: Historical
Dilution: Basic
Historical Capitalization
Balance Sheet as of:
Mar-31-2018 Mar-31-2019 Mar-31-2020 Mar-31-2021 Mar-31-2022 Mar-31-2023
Pricing as of* Jul-12-2018 Jul-12-2019 Jun-01-2020 Jun-18-2021 Jul-05-2022 Jun-27-2023
Capitalization Detail
Share Price 19.3 63.85 39.55 114.9 262.75 253.1
Shares Out. 3,856.9 3,856.9 3,856.9 3,856.9 3,856.9 3,856.9
Market Capitalization 74,438.9 246,265.6 152,541.9 443,162.3 1,013,410.7 976,191.2

- Cash & Short Term Investments 2,566.2 272.5 9,534.5 1,337.4 9,700.5 9,607.7
+ Total Debt 530,425.7 469,798.9 553,382.2 525,421.7 489,026.1 423,495.3
+ Pref. Equity - - - - 2,465.5 2,465.5
+ Total Minority Interest - - 0.1 0.1 - -
- Long Term Marketable Securities - - - - - -
= Total Enterprise Value (TEV) 602,298.4 715,792.0 696,389.7 967,246.7 1,495,201.8 1,392,544.3
Book Value of Common Equity 8,845.4 77,122.9 64,804.4 131,125.9 184,568.9 296,291.1
+ Pref. Equity - - - - 2,465.5 2,465.5
+ Total Minority Interest - - 0.1 0.1 - -
+ Total Debt 530,425.7 469,798.9 553,382.2 525,421.7 489,026.1 423,495.3
= Total Capital 539,271.1 546,921.8 618,186.7 656,547.7 676,060.5 722,251.9
* Pricing as of the filing date of the balance sheet period end date. For
TEV calculation purposes on this page Capital IQ only uses balance
sheet components from the original filing that is publicly available as of
a given pricing date and does not use restated balance sheet data from
a later filing. In the cases where a company did not disclose balance
sheet values for a particular period, TEV is calculated using balance
sheet components from the last reported balance sheet as of this date.
The table above is organized along period end dates.
** For companies that have multiple share classes that publicly trade,
we are incorporating the different prices to calculate our company level
market capitalization. Please click on the value to see the detailed
calculation. Prices shown on this page are the close price of the
company’s primary stock class. Shares shown on this page are total
company as-reported share values.
Historical Equity Pricing Data supplied by Interactive Data Pricing and

Reference Data LLC
Adani Power Limited (NSEI:ADANIPOWER) > Financials > Capital Structure Summary
In Millions of the reported currency, except ratios and % of Total
values. Restatement: Latest Filings Period Type: Annual
Order: Latest on Right
Capital Structure Data

For the Fiscal Period Ending
12 months Mar-31-2021 12 months Mar-31-2022 12 months Mar-31-2023
Currency INR INR INR
Units Millions % of Total Millions % of Total Millions % of Total
Total Debt 525,421.7 80.0% 489,026.1 72.3% 423,495.3 58.6%

Total Common Equity 131,125.9 20.0% 184,568.9 27.3% 296,291.1 41.0%
Total Preferred Equity - - 2,465.5 0.4% 2,465.5 0.3%
Total Minority Interest 0.1 0.0% - - - -
Total Capital 656,547.7 100.0% 676,060.5 100.0% 722,251.9 100.0%
Debt Summary Data

For the Fiscal Period Ending
12 months Mar-31-2021 12 months Mar-31-2022 12 months Mar-31-2023
Currency INR INR INR
Units Millions % of Total Millions % of Total Millions % of Total
Total Revolving Credit 70,111.3 13.3% 56,910.3 11.6% 44,790.8 10.6%

Total Term Loans 356,185.5 67.8% 357,272.3 73.1% 308,138.9 72.8%
Total Lease Liabilities 1,074.1 0.2% 1,027.5 0.2% 974.8 0.2%
General/Other Borrowings 99,849.3 19.0% 73,773.9 15.1% 69,590.8 16.4%
Total Principal Due 527,220.2 100.3% 488,984.0 100.0% 423,495.3 100.0%
Total Adjustments (1,798.5) (0.3%) 42.1 0.0% - -

Total Debt Outstanding 525,421.7 100.0% 489,026.1 100.0% 423,495.3 100.0%
Additional Totals
Total Cash & ST Investments 1,337.4 - 9,700.5 - 9,607.7 -
Net Debt 524,084.3 - 479,325.6 - 413,887.6 -
Total Senior Debt 527,220.2 100.3% 488,984.0 100.0% 423,495.3 100.0%
Total Short-Term Borrowings 96,833.2 18.4% 72,403.7 14.8% 56,715.8 13.4%
Curr. Port. of LT Debt/Cap. Leases 27,930.3 5.3% 36,965.6 7.6% 28,870.3 6.8%
Long-Term Debt (Incl. Cap. Leases) 400,658.2 76.3% 379,656.8 77.6% 337,909.2 79.8%
Total Bank Debt 426,296.8 81.1% 414,182.6 84.7% 352,929.7 83.3%
Total Secured Debt 427,370.9 81.3% 415,210.1 84.9% 353,904.5 83.6%
Senior Secured Loans 426,296.8 81.1% 414,182.6 84.7% 352,929.7 83.3%
Total Senior Secured Debt 427,370.9 81.3% 415,210.1 84.9% 353,904.5 83.6%
Total Unsecured Debt 99,849.3 19.0% 73,773.9 15.1% 69,590.8 16.4%
Fixed Rate Debt 883.4 0.2% 1,544.3 0.3% 1,689.5 0.4%
Hedging Activities 234.9 0.0% 41.8 0.0% - -
Credit Ratios
Net Debt/EBITDA 6.0x - 4.8x - 4.0x -
Total Debt/EBITDA 6.0x - 4.9x - 4.1x -
Total Senior Debt/EBITDA 6.1x - 4.9x - 4.1x -
Total Senior Secured/EBITDA 4.9x - 4.2x - 3.5x -
Net Debt/(EBITDA-CAPEX) 10.3x - 7.4x - 5.9x -
Total Debt/(EBITDA-CAPEX) 10.3x - 7.5x - 6.1x -
Total Senior Debt/(EBITDA-CAPEX) 10.4x - 7.5x - 6.1x -
Total Senior Secured/(EBITDA-CAPEX) 8.4x - 6.4x - 5.1x -
Fixed Payment Schedule

LT Debt (Incl. Cap. Leases) Due +1 112,943.6 21.5% 103,885.9 21.2% 90,486.5 21.4%
LT Debt (Incl. Cap. Leases) Due, Next 5 Yrs 359,755.0 68.5% 344,148.3 70.4% 323,327.5 76.3%
LT Debt (Incl. Cap. Leases) Due, After 5 Yrs 165,431.8 31.5% 144,836.0 29.6% 100,167.8 23.7%
Cap. Lease Payment Due +1 78.4 - 83.9 - 91.6 -

Cap. Lease Payment Due, Next 5 Yrs 215.1 - 214.5 - 210.0 -
Cap. Lease Payment Due, After 5 Yrs 859.0 - 813.0 - 764.8 -
Cap. Lease Payment Due (incl. Interest) +1 - - - - 155.4 -
Contractual Obligations Due +1 46,715.7 - 46,755.3 - 55,410.3 -

Contractual Obligations Due + 2 1,757.7 - 2,400.9 - - -
Contractual Obligations Due, Next 5 Yrs 53,746.5 - 56,359.0 - 55,410.3 -
Total Contractual Obligations 53,746.5 - 56,359.0 - 55,410.3 -
Interest Rate Data
Filing Date Jul-05-2022 - Jun-27-2023 - Jun-27-2023 -
Adani Power Limited (NSEI:ADANIPOWER) > Financials > Ratios
Restatement: Latest Filings Period Type: Annual
Order: Latest on Right Decimals: Capital IQ (Default)
Ratios
LTM
Press Release
Profitability
Return on Assets % 2.5% 2.6% 4.5% 5.3% 5.2% NA
Return on Capital % 3.1% 3.2% 5.4% 6.4% 6.2% 4.1%
Return on Equity % (22.9%) (32.1%) 13.0% 30.9% 44.2% NA
Return on Common Equity % (28.8%) (44.5%) 0.3% 23.5% 39.4% 56.0%
Margin Analysis
Gross Margin % 26.8% 27.5% 37.7% 40.5% 30.9% 26.8%
SG&A Margin % 1.6% 1.6% 1.7% 1.7% 1.5% 1.7%
EBITDA Margin % 22.8% 22.4% 33.1% 35.8% 26.3% 22.0%
EBITA Margin % 11.3% 11.1% 21.0% 24.6% 17.9% 12.8%
EBIT Margin % 11.3% 11.1% 21.0% 24.6% 17.9% 12.8%
Earnings from Cont. Ops Margin % (4.1%) (8.6%) 4.8% 17.7% 27.7% 40.8%
Net Income Margin % (4.1%) (8.6%) 4.8% 17.7% 27.7% 40.8%
Net Income Avail. for Common Margin % (5.2%) (11.9%) 0.1% 13.4% 24.4% 37.3%
Normalized Net Income Margin % (2.8%) (3.0%) 4.8% 14.9% 12.4% 18.4%
Levered Free Cash Flow Margin % (6.8%) (4.4%) (19.2%) 13.5% 5.5% NA
Unlevered Free Cash Flow Margin % 7.5% 8.0% (8.1%) 22.2% 10.4% NA
Asset Turnover
Total Asset Turnover 0.3x 0.4x 0.3x 0.3x 0.5x NA
Fixed Asset Turnover 0.5x 0.5x 0.4x 0.5x 0.6x NA
Accounts Receivable Turnover 2.3x 2.8x 2.5x 2.6x 3.7x NA
Inventory Turnover 10.4x 7.6x 5.3x 5.1x 6.4x NA
Short Term Liquidity

Current Ratio 0.7x 0.8x 0.9x 0.9x 1.1x NA
Quick Ratio 0.6x 0.5x 0.6x 0.6x 0.7x NA
Cash from Ops. to Curr. Liab. 0.3x 0.3x 0.4x 0.6x 0.5x NA
Avg. Days Sales Out. 159.4 129.4 143.7 141.5 99.3 NA
Avg. Days Inventory Out. 35.0 48.4 68.5 71.5 57.1 NA
Avg. Days Payable Out. 144.2 105.8 108.0 77.4 43.0 NA
Avg. Cash Conversion Cycle 50.2 72.0 104.2 135.7 113.3 NA
Long Term Solvency

Total Debt/Equity 609.2% 853.9% 400.7% 261.5% 141.8% 141.8%
Total Debt/Capital 85.9% 89.5% 80.0% 72.3% 58.6% 58.6%
LT Debt/Equity 472.1% 689.6% 305.6% 203.0% 113.1% NA
LT Debt/Capital 66.6% 72.3% 61.0% 56.2% 46.8% NA
Total Liabilities/Total Assets 88.7% 91.4% 83.4% 77.2% 65.2% NA
EBIT / Interest Exp. 0.5x 0.6x 1.2x 1.8x 2.3x 1.5x

EBITDA / Interest Exp. 1.0x 1.1x 1.9x 2.6x 3.4x 2.6x
(EBITDA-CAPEX) / Interest Exp. 0.8x 0.7x 1.1x 1.7x 2.3x 2.6x
Total Debt/EBITDA 8.6x 9.3x 6.0x 4.9x 4.1x 5.3x
Net Debt/EBITDA 8.6x 9.1x 6.0x 4.8x 4.0x 5.2x
Total Debt/(EBITDA-CAPEX) 11.1x 14.9x 10.3x 7.5x 6.1x 5.3x

Net Debt/(EBITDA-CAPEX) 11.1x 14.6x 10.3x 7.4x 5.9x 5.2x
Growth Over Prior Year

Total Revenue 17.6% 10.8% (0.9%) 5.7% 39.9% 3.4%
Gross Profit (9.8%) 13.6% 35.9% 13.5% 6.5% (37.8%)
EBITDA (7.2%) 8.7% 46.5% 14.3% 2.9% (43.1%)
EBITA (15.0%) 8.9% 87.2% 24.1% 1.5% (57.6%)
EBIT (15.0%) 8.9% 87.2% 24.1% 1.5% (57.6%)
Earnings from Cont. Ops. NM NM NM 286.7% 118.4% 56.2%
Net Income NM NM NM 286.7% 118.4% 56.2%
Diluted EPS before Extra NM NM NM 14,790.4% 155.1% 76.7%
Normalized Net Income NM NM NM 231.0% 16.0% (11.8%)

Net PP&E (2.9%) 14.5% 1.9% 7.3% 0.1% NA
Inventory 14.6% 83.6% (13.4%) 27.1% 31.8% NA
Accounts Receivable (8.0%) (12.7%) 36.8% (19.8%) 20.6% NA
Total Assets (2.2%) 10.4% 5.0% 4.0% 4.7% NA
Tangible Book Value 985.4% (17.5%) 106.8% 42.2% 61.2% 60.5%

Cash from Ops. 10.0% (0.2%) 25.3% 45.9% (17.6%) NA
Capital Expenditures 28.5% 83.8% 62.5% (5.1%) (5.6%) NA
Levered Free Cash Flow NM NM NM NM (42.9%) NA
Unlevered Free Cash Flow (44.5%) 17.9% NM NM (34.5%) NA
Dividend per Share NA NA NA NA NA NA
Common Equity 767.2% (16.0%) 102.3% 40.8% 60.5% 60.5%
Compound Annual Growth Rate Over Two Years

Total Revenue 2.8% 14.2% 4.8% 2.3% 21.6% 14.3%
Gross Profit (7.5%) 1.2% 24.3% 24.2% 10.0% (2.5%)
EBITDA (5.2%) 0.4% 26.2% 29.4% 8.4% (6.1%)
EBITA (10.9%) (3.8%) 42.8% 52.4% 12.2% (10.7%)
EBIT (10.9%) (3.8%) 42.8% 52.4% 12.2% (10.7%)
Earnings from Cont. Ops. NM NM NM NM 190.6% 156.8%
Net Income NM NM NM NM 190.6% 156.8%
Diluted EPS before Extra NM NM NM NM 1,849.1% NA
Normalized Net Income NM NM NM NM 96.0% 85.6%

Net PP&E (3.5%) 5.5% 8.0% 4.6% 3.7% NA
Inventory (14.9%) 45.0% 26.1% 4.9% 29.5% NA
Accounts Receivable 0.1% (10.4%) 9.3% 4.7% (1.7%) NA
Total Assets (2.5%) 3.9% 7.7% 4.5% 4.4% NA
Common Equity 60.3% 169.9% 30.4% 68.8% 50.3% 50.3%

Tangible Book Value 63.8% 199.3% 30.7% 71.5% 51.4% 50.3%
Cash from Ops. 9.0% 4.8% 11.8% 35.2% 9.6% NA
Capital Expenditures 19.1% 53.7% 72.8% 24.2% (5.3%) NA
Levered Free Cash Flow NM NM NM NM NM NA
Unlevered Free Cash Flow (49.8%) (19.1%) NM 71.0% NM NA
Compound Annual Growth Rate Over Three Years

Total Revenue (2.2%) 5.4% 8.9% 5.1% 13.6% 14.7%
Gross Profit (14.8%) (1.0%) 11.7% 20.6% 18.0% 16.9%
EBITDA (14.9%) (0.8%) 13.9% 22.1% 19.9% 20.0%
EBITA (24.1%) (4.7%) 20.1% 36.3% 33.1% 43.7%
EBIT (24.1%) (4.7%) 20.1% 36.3% 33.1% 43.7%
Earnings from Cont. Ops. NM NM NM NM NM NM
Net Income NM NM NM NM NM NM
Diluted EPS before Extra NM NM NM NM NM NM
Normalized Net Income NM NM NM NM NM NM

Net PP&E (3.8%) 2.2% 4.3% 7.8% 3.1% NA
Inventory (3.3%) 10.0% 22.1% 26.4% 13.2% NA
Accounts Receivable (7.1%) (4.4%) 3.2% (1.5%) 9.8% NA
Total Assets (3.6%) 1.6% 4.3% 6.4% 4.6% NA
Common Equity 1.1% 29.3% 145.2% 33.8% 66.0% 66.0%

Cash from Ops. 2.2% 5.8% 11.2% 22.2% 14.6% NA
Capital Expenditures (15.1%) 37.6% 56.6% 41.5% 13.4% NA
Levered Free Cash Flow NM NM NM NM NM NA
Unlevered Free Cash Flow NM (33.3%) NM 51.1% 24.2% NA
Compound Annual Growth Rate Over Five Years

Total Revenue 9.1% 7.1% 0.5% 4.1% 13.8% 13.8%
Gross Profit 3.6% 1.5% (0.9%) 8.4% 11.0% 6.6%
EBITDA 2.2% 2.6% (0.4%) 10.3% 11.7% 7.8%
EBITA 0.2% (2.8%) (2.3%) 15.0% 16.9% 10.9%
EBIT 0.2% (2.8%) (2.3%) 15.0% 16.9% 10.9%
Earnings from Cont. Ops. NM NM 18.2% NM NM NM
Net Income NM NM 18.2% NM NM NM
Diluted EPS before Extra NM NM (48.8%) NM NM NM
Normalized Net Income NM NM 38.3% NM NM NM

Net PP&E 0.2% 5.1% 0.8% 3.1% 4.0% NA
Inventory 6.9% 15.1% 7.6% 7.9% 25.0% NA
Accounts Receivable 18.1% 5.5% (0.9%) (0.8%) 1.2% NA
Total Assets 3.0% 5.1% 0.8% 2.8% 4.3% NA
Common Equity 3.3% 2.5% 11.9% 43.8% 101.6% 101.8%

Cash from Ops. 11.6% (0.8%) 5.9% 16.7% 10.6% NA
Capital Expenditures (27.8%) (6.2%) 12.8% 32.1% 28.0% NA
Levered Free Cash Flow NM NM NM (0.4%) NM NA
Unlevered Free Cash Flow NM NM NM (2.8%) 4.6% NA
28.1%
Adani Power Limited (NSEI:ADANIPOWER) > Financials > Supplemental
In Millions of the reported currency, except per share items. Restatement: Latest Filings Period Type: Annual
Order: Latest on Right Units: S&P Capital IQ (Default)
Decimals: Capital IQ (Default) Source: Capital IQ & Proprietary Data
Supplemental
Loss Carry Forward Related Items
NOL C/F, Current Year - - - 48.7 - -
NOL C/F, Current Year + 1 - - - 235.4 17,945.9 -
NOL C/F, Current Year + 2 - - - 18,267.0 63,827.9 -
NOL C/F, Current Year + 3 - - - 63,827.9 9,656.5 -
NOL C/F, Current Year + 4 - - - 9,180.8 6,256.9 2,308.2
NOL C/F, After Five Years 68,528.5 73,449.3 122,583.6 36,200.4 35,008.1 991.7
NOL C/F, No Expiration - - 201,366.1 193,938.1 238,203.8 220,297.0
Total NOL C/F 68,528.5 73,449.3 323,949.7 321,698.3 370,899.1 223,596.9
Max. Year for NOL C/F 2026 2028 - - - -
Tax Benefit C/F, After Five Years 475.8 1,061.4 1,547.3 1,511.4 1,848.2 -
Total Tax Benefit C/F 475.8 1,061.4 1,547.3 1,511.4 1,848.2 -
Max. Year for Tax Benefit C/F 2033 2034 2035 2036 2037 -
Fair Value Measurements

Level 2 Assets - Observable Prices 952.9 1,485.3 5,144.1 2,171.3 3,398.8 9,835.2
Level 3 Assets - Unobservable Prices - - - 7,884.6 - -
Fair Value of Assets 952.9 1,485.3 5,144.1 10,055.9 3,398.8 9,835.2
Level 2 Liabilities - Observable Prices 516.9 1,322.5 330.6 1,195.9 279.2 70.4
Fair Value of Liabilities 516.9 1,322.5 330.6 1,195.9 279.2 70.4
Filing Date Jul-12-2019 Jun-01-2020 Jun-18-2021 Jul-05-2022 Jun-27-2023 Jun-27-2023

Adani Power Limited (NSEI:ADANIPOWER) > Financials > Segments
In Millions of the reported currency. View By: Line Items Restatement: Latest Filings
Business Segments
Restated Reclassified Reclassified
Revenues
Power Generation and Related Activities (Excluding Trading and Investin - 233,908.4 260,059.2 258,706.0 272,217.8 378,958.5
Trading, Investment and Other Activities - 4,933.4 4,618.0 3,508.8 4,894.0 8,774.5
Power Generation and Related Activities 203,042.8 - - - - -
Total Revenues 203,042.8 238,841.8 264,677.2 262,214.8 277,111.8 387,733.0
Operating Profit Before Tax

Power Generation and Related Activities (Excluding Trading and Investin - 46,770.9 40,526.2 73,948.6 - -
Trading, Investment and Other Activities - 35.7 2.7 2.1 - -
Total Operating Profit Before Tax - 46,806.6 40,528.9 73,950.7 - -
Interest Expense
Power Generation and Related Activities (52,722.2) - - - - -
Total Interest Expense (52,722.2) - - - - -
Net Profit Before Tax

Power Generation and Related Activities (Excluding Trading and Investin - - - - 65,713.7 69,571.3
Trading, Investment and Other Activities - - - - 57.6 7,175.7
Total Net Profit Before Tax (20,789.2) - - - 65,771.3 76,747.0
Tax Expense
Power Generation and Related Activities (51.5) - - - - -
Total Tax Expense (51.5) - - - - -
Net Profit After Tax

Total Net Profit After Tax (21,029.5) - - - - -
Assets
Trading, Investment and Other Activities - 4,790.3 1,774.6 7,884.7 420.2 11,342.6
Unallocable Assets - - - - 509.1 3,227.9
Total Assets 695,280.7 679,846.0 750,250.0 788,059.1 819,810.2 858,212.7
Depreciation & Amortization

Trading, Investment and Other Activities - - - - - 311.7
Total Depreciation & Amortization 26,959.1 27,506.2 30,065.0 32,016.5 31,175.4 33,036.8
Capital Expenditure
Power Generation and Related Activities (Excluding Trading and Investin - (12,115.3) (22,265.6) (36,176.1) (34,345.5) (30,085.0)
Trading, Investment and Other Activities - - - - - (2,351.8)
Total Capital Expenditure (9,425.7) (12,115.3) (22,265.6) (36,176.1) (34,345.5) (32,436.8)
1,908.70
Geographic Segments
Restated Reclassified Reclassified
Revenues
India 203,042.8 238,841.8 264,677.2 262,214.8 277,111.8 387,733.0
Total Revenues 203,042.8 238,841.8 264,677.2 262,214.8 277,111.8 387,733.0
Operating Profit Before Tax

India - (9,758.6) (12,619.3) - - -
Total Operating Profit Before Tax - (9,758.6) (12,619.3) - - -
Interest Expense
India (52,722.2) (54,556.8) (52,449.7) (46,475.8) (38,719.8) (30,401.6)
Total Interest Expense (52,722.2) (54,556.8) (52,449.7) (46,475.8) (38,719.8) (30,401.6)
Net Profit Before Tax

India (20,789.2) (9,758.6) (22,649.2) 22,887.4 65,771.3 76,747.0
Total Net Profit Before Tax (20,789.2) (9,758.6) (22,649.2) 22,887.4 65,771.3 76,747.0
Tax Expense
India (51.5) 85.4 98.5 10,187.6 16,655.5 (30,519.4)
Total Tax Expense (51.5) 85.4 98.5 10,187.6 16,655.5 (30,519.4)
Net Profit After Tax

India (21,029.5) (9,844.0) (22,747.7) 12,699.8 49,115.8 107,266.4
Total Net Profit After Tax (21,029.5) (9,844.0) (22,747.7) 12,699.8 49,115.8 107,266.4
Assets
India 695,280.7 679,846.0 750,250.0 788,059.1 819,810.2 858,212.7
Total Assets 695,280.7 679,846.0 750,250.0 788,059.1 819,810.2 858,212.7
Depreciation & Amortization

India 26,959.1 27,479.3 30,041.9 31,974.2 31,140.9 32,998.1
Total Depreciation & Amortization 26,959.1 27,479.3 30,041.9 31,974.2 31,140.9 32,998.1
Capital Expenditure
India (9,425.7) (12,115.3) (22,265.6) (36,176.1) (34,345.5) (32,436.8)
Total Capital Expenditure (9,425.7) (12,115.3) (22,265.6) (36,176.1) (34,345.5) (32,436.8)

-31,128.10

Adani Power Limited NSEI ADANIPOWER Financials

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Adani Power Limited NSEI ADANIPOWER Financials

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Adani Power Limited (NSEI:ADANIPOWER) > Financials > Key Stats

Total Revenue 226,155.1 203,042.8 238,841.8 264,677.2 262,214.8 277,111.8

Gross Profit 74,939.4 71,024.4 64,088.2 72,807.6 98,960.7 112,332.4

EBITDA 60,666.7 58,705.2 54,466.9 59,220.1 86,764.0 99,187.4

EBIT 33,970.5 31,746.1 26,987.6 29,399.2 55,035.6 68,284.5

Net Income (61,741.0) (21,029.5) (9,844.0) (22,747.7) 12,699.8 49,115.8

Currency INR INR INR INR INR INR

Market Capitalization 1,536,604.5

Book Value of Common Equity 296,291.1

Valuation Multiples based on Current Capitalization

TEV/EBITDA 32.9x 22.4x 19.6x 19.1x 24.6x

TEV/EBIT 66.4x 35.5x 28.6x 28.2x 42.4x

P/Diluted EPS Before Extra NM NM 41.4x 16.2x 11.3x

P/BV NM NM 29.3x 9.4x 9.4x

Price/Tang BV NM NM 30.5x 9.5x 9.5x

Revenue 238,841.8 264,677.2 262,214.8 277,111.8 387,733.0 360,557.8

Operating Income 26,987.6 29,399.2 55,035.6 68,284.5 69,281.6 46,041.1

Interest Expense, Total (54,556.8) (52,449.7) (46,475.8) (38,719.8) 30,401.6 (31,002.2)

Earnings of Discontinued Ops. - - - - - -

Minority Int. in Earnings - - - - - -

Per Share Items

Diluted EPS (3.21) (8.19) 0.06 9.63 24.57 35.18

Normalized Basic EPS (1.72) (2.04) 3.24 10.73 12.45 17.35

Dividends per Share NA NA NA NA NA NA

Normalized Net Income (6,640.2) (7,850.2) 12,503.6 41,391.0 48,031.3 66,365.2

Supplemental Operating Expense Items

Particulars 2023 2024 2025

Market Risk Premium 8.33%

Cost of Equity 19.48%

Book Value Weights

Market Value Weights

Accounts Receivable 99,917.6 87,208.4 119,263.4 95,632.6 115,295.4 -

Inventory 17,889.2 32,842.0 28,438.1 36,158.7 47,670.5 -

Goodwill 1,906.1 1,906.1 1,906.1 1,906.1 1,906.1 -

Long-Term Debt 364,102.7 445,987.5 399,662.5 378,713.2 337,026.0 -

Pref. Stock, Redeemable - - - 2,465.5 2,465.5 -

Common Stock 38,569.4 38,569.4 38,569.4 38,569.4 38,569.4 -

Minority Interest - 0.1 0.1 - - -

Total Equity 77,122.9 64,804.5 131,126.0 187,034.4 298,756.6 298,756.6

Total Liabilities And Equity 679,846.0 750,250.0 788,059.1 819,810.2 858,212.7 -

Net Income (9,844.0) (22,747.7) 12,699.8 49,115.8 107,266.4 -

Other Amortization 26.9 23.1 42.3 34.5 38.7 -

Capital Expenditures (12,115.3) (22,265.6) (36,176.1) (34,345.5) (32,436.8) -

Issuance of Common Stock 54,500.0 6,150.0 4,000.0 6,000.0 5,664.9 -

Common Dividends Paid (1,849.0) (6,120.1) (3,803.6) (5,898.3) (6,611.7) -

Special Dividend Paid - - - - - -

Foreign Exchange Rate Adj. 0.2 0.3 - - - -

Market Capitalization 74,438.9 246,265.6 152,541.9 443,162.3 1,013,410.7 976,191.2

Historical Equity Pricing Data supplied by Interactive Data Pricing and

Capital Structure Data

Total Debt 525,421.7 80.0% 489,026.1 72.3% 423,495.3 58.6%

Debt Summary Data

Total Revolving Credit 70,111.3 13.3% 56,910.3 11.6% 44,790.8 10.6%

Total Adjustments (1,798.5) (0.3%) 42.1 0.0% - -

Fixed Payment Schedule

Cap. Lease Payment Due +1 78.4 - 83.9 - 91.6 -

Contractual Obligations Due +1 46,715.7 - 46,755.3 - 55,410.3 -

Short Term Liquidity