Adani Power Ltd
Adani Power Q4 FY26 earnings call: Revenue & Margins
Q4 FY26 earnings call: what management guided on revenue, margins and order book.
The short version
FY27 expected to see strong growth in overall power demand and peak demand, supported by economic recovery and warmer weather. Adani Power targets EBITDA to reach INR 50,000 crores by FY 2031, possibly as early as FY 2030 if no disruptions occur.
From Adani Power Ltd's Q4 FY26 earnings-call transcript · updated 23 Aug 2026.
Revenue & Sales Performance
- FY27 expected to see strong growth in overall power demand and peak demand, supported by economic recovery and warmer weather.
- Power sales volume increased 3.4% in FY26 to 99.1 billion units with 27.2 billion units in Q4 FY26.
- Capacity expansion progressing well: 23.7 GW thermal capacity addition planned by 2032.
- New PPAs secured totaling 13.3 GW for expansion; 95% of operating capacity tied under long/medium-term PPAs ensuring revenue visibility.
- Upcoming commissioning of projects like Korba Phase-II (1.32 GW), Mahan Phase-II (1.6 GW next year), Raipur and Raigarh Phase-II supporting volume growth.
2 more points management made on revenue & sales performance
Profitability & Margins
See what Adani Power Ltd said on profitability & margins — free account, 30 seconds.
Capital Expenditure Plans
- FY26-27 capex: ~INR 25,000 crores
- FY27-28 capex: ~INR 33,000 crores
- Ongoing expansion plan total: INR 2 lakh crores
- Capacity additions: 1.32 GW (Korba Phase-II) in FY26-27; 1.6 GW (Mahan plant) in FY27-28
- Planned to add 4 GW+ capacity annually from FY29 to FY32
- Target capacity: 42 GW by FY31-32 (planned 24 GW thermal expansion currently underway)
- Potential strategic investments in nuclear power through new SPVs; site identification and approvals in progress pending government rules
- Incorporated SPV in Bhutan for a 570 MW hydro power plant
2 more points management made on capital expenditure plans
Top-ranked in Power
Ranked on what management guided this quarter
Rank buckets describe management commentary on revenue and margin. Not investment advice, and not a forecast of returns.
Fundraising & Capital Structure
See what Adani Power Ltd said on fundraising & capital structure — free account, 30 seconds.
Order Book & Pipeline
- Adani Power has tied up 10.4 GW of expansion capacity under long-term power purchase agreements (PPAs) during FY26.
- The total tied-up expansion capacity now stands at 13.3 GW, with new PPAs including a 1,600 MW from Maharashtra DISCOM.
- Upcoming PPAs in the market amount to approximately 13 GW from states like Uttar Pradesh, Rajasthan, Uttarakhand, West Bengal, and Gujarat.
- Gujarat has recently issued a bidding document for another 4,000 MW.
- Capacity additions under the expansion plan aim to reach 42 GW by FY31-32.
2 more points management made on order book & pipeline
Adani Power Ltd — Quarterly revenue & net profit
Reported quarterly figures (₹ Cr). Latest: revenue ₹14.2K Cr, net profit ₹4.3K Cr. Revenue and profit are scaled separately — hover a quarter for exact figures.
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What Adani Power Ltd's management said in earlier quarters
- Q1 FY27 earnings call analysis →
- Q4 FY26 earnings call analysis →
- Q2 FY26 earnings call analysis →
- Q3 FY26 earnings call analysis →
- Q4 FY25 earnings call →
- Q3 FY25 earnings call →
- Q2 FY25 earnings call →
- Q1 FY25 earnings call →
- Q4 FY24 earnings call →
- Q3 FY24 earnings call →
- Q2 FY24 earnings call →
- Q1 FY20 earnings call →
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Frequently Asked Questions
What were Adani Power Ltd Q4 FY26 results?
FY27 expected to see strong growth in overall power demand and peak demand, supported by economic recovery and warmer weather. Adani Power targets EBITDA to reach INR 50,000 crores by FY 2031, possibly as early as FY 2030 if no disruptions occur.
What is Adani Power Ltd share price analysis?
Adani Power Ltd currently shows a neutral. The stock trades at a P/E of 27.8 with a market cap of ₹395,818 Cr. Investors should review the full earnings analysis for detailed insights.
Is Adani Power Ltd planning capital expenditure?
FY26-27 capex: ~INR 25,000 crores - FY27-28 capex: ~INR 33,000 crores - Ongoing expansion plan total: INR 2 lakh crores - Capacity additions: 1.32 GW (Korba Phase-II) in FY26-27; 1.6 GW (Mahan p
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This analysis is AI-generated based on publicly available earnings data and the company's earnings call transcript. This is not investment advice. Please consult a SEBI-registered advisor before making investment decisions.