Adani Power Limited has informed the Exchange about Transcript
ADANIPOWER · price
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Adani Power reported Q1 FY26 consolidated revenue of Rs. 14,167 crores, EBITDA of Rs. 5,744 crores, and profit after tax of Rs. 3,305 crores, delivering stable profits despite a 1.6% drop in all-India power demand due to an early monsoon. The company supplied 24.6 billion units of power, up 1.6% year-on-year, supported by newly acquired 2,300 MW capacity and higher short-term sales. It acquired Vidarbha Industries Power (600 MW) and received over US $500 million in outstanding payments from Bangladesh Power Development Board, bringing receivables close to normal levels. Management highlighted execution progress on 4,800 MW of capacity expansion (Mahan 66%, Raipur 25%, Raigarh 20%), a new PPA signed with Uttar Pradesh Discom for 1,600 MW at Rs. 5.39/kWh, and locked-in equipment supplies for the full 11.2 GW expansion plan. Total debt rose to Rs. 44,372 crores (from Rs. 38,775 crores), partly due to bridge funding for projects, while Rs. 2,579 crores of promoter perpetual securities were repaid, nearly wiping out that balance. Merchant realization fell to Rs. 6.51/kWh from Rs. 7.60/kWh last year.
The results show operational resilience in a soft demand quarter, with stable margins and a strengthened balance sheet. The capacity addition pipeline, recent PPAs, and reduced reliance on expensive imported coal-linked tariffs are positives for long-term earnings, though higher operating expenses from acquisitions and rising debt for capex are near-term watchpoints for shareholders.