Arthneeti

RattanIndia Power Q2 FY27 Share Price & Earnings Call Analysis

₹6.30-0.47% today
Market cap
₹3,383 Cr
P/E
30.39
ROE
1.14%
PEG
1.13
Price to sales
1.12
Debt to equity
0.80
52W high / low
₹10.9 / ₹6.07
Sales growth (5Y)
13.91%
EBITDA margin
14.62%
Net profit margin
1.75%
Promoter holding
44.06%
Sales (last year)
₹2,968 Cr

RattanIndia Power Limited is one of India’s largest private power generation company, with installed capacity of 2,700 MW thermal power plants at Amravati and Nashik (1,350 MW at each location) in Maharashtra, India. [1]

Guidance scorecard · Q2 FY27 call

What RattanIndia Power's management guided
and where it ranks in Power

Revenue10–20%MarginsWhat management saidCapexPlannedFundraisingPlannedOrder bookWhat management said

RevenueQ4 FY24 call

10–20%
  • RattanIndia Power is operating near peak capacity with ~90% contracted plant under PPA at Amravati (1350 MW), running at ~82-83% PLF.
  • Merchant sales started recently (28 MW in FY24), with plans to expand merchant capacity to around 300 MW.
  • Regulatory receivables exceeding Rs. 2500 crore will add to future cash flows and revenue.
  • Future growth to come from capacity expansion options: either thermal expansion (660-800 MW units) or renewables, or both.
  • Thermal expansion estimated CAPEX around Rs. 6000 crore, requiring approx. Rs. 1500 crore equity.
  • Expansion timing depends on debt repayment completion, targeted within current financial year, enabling freer pursuit of growth.

2 more points from RattanIndia Power's call on revenue

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Full Q4 FY24 analysis

MarginsQ4 FY24 call

See what RattanIndia Power said on margins — free account, 30 seconds.

Full Q4 FY24 analysis

CapexQ4 FY24 call

Planned
  • Considering capacity expansion at Amravati plant (either one unit of 660 MW or 800 MW supercritical unit).
  • Estimated cost for a 660 MW thermal expansion around Rs.6000 crore, requiring approx. Rs.1500 crore equity and rest through debt.
  • Exploring renewable energy options, including solar, with flexibility on project sizes based on land availability and bids.
  • Strategic plans to finalize in coming months after repaying external debt, targeted in the current financial year.
  • Possibility of deploying cash flows from Amravati and regulatory receivables into thermal and renewable expansion.
  • Planning commercial use of surplus land (over 1000 acres) near Amravati for data centers or other infrastructure requiring power and water.

2 more points from RattanIndia Power's call on capex

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Full Q4 FY24 analysis

FundraisingQ4 FY24 call

Planned

See what RattanIndia Power said on fundraising — free account, 30 seconds.

Full Q4 FY24 analysis

Order bookQ4 FY24 call

Ask what RattanIndia Power said on the order book →

Full Q4 FY24 analysis
Full Power ranking

Ranges are what management guided for revenue growth and margins on the latest earnings call. Not investment advice, and not a forecast of returns.

Potential multibaggers · Q2 FY27

Potential multibaggers in Power
on management's own guidance

  1. Strong growth
    2
  2. Strong growth
    1
  3. Strong growth
    3
See all potential multibaggersWhere does RattanIndia Power rank?

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Ranks describe management commentary on revenue and margin from the latest earnings call. Not investment advice.

Peers

Power companies ranked on guidance

#CompanyRevenue guidedMargin guidedMarket capP/E
140%+Up 2%+₹1,519 Cr7.8
240%+Flat₹28,615 Cr48.0
340%+Flat₹14,613 Cr93.2
440%+Flat₹14,055 Cr532.8
520–40%Flat₹3.64L Cr20.0
620–40%Flat₹2.14L Cr109.5

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RattanIndia Power announcements

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Financials of RattanIndia Power

Quarterly Results, Profit & Loss, Balance Sheet, Cash Flows, and Ratios are shown below as separate sections.

Shareholder Pattern

RattanIndia Power

Shareholding breakup across reporting periods.

Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Promoters +44.06%44.06%44.06%44.06%44.06%44.06%44.06%44.06%44.06%44.06%44.06%44.06%
FIIs +0.76%2.04%3.69%4.39%5.01%5.25%4.95%5.12%5.23%5.13%5.25%3.82%
DIIs +6.89%6.61%6.57%6.57%6.53%6.65%6.67%6.65%6.65%6.62%6.58%6.58%
Public +48.28%47.29%45.67%44.96%44.40%44.03%44.31%44.16%44.06%44.20%44.10%45.54%
No. of Shareholders10,75,98713,22,74520,63,33719,80,55219,61,97219,73,22420,77,82820,51,56519,86,07719,43,75619,11,79119,02,205

Financials of RattanIndia Power

Quarterly Results

Quarter-by-quarter operating performance

Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026Sep 2026
Sales +796806914932682733936822654728788799703
Expenses +685635708743588643724725602601658674605
Operating Profit1111722061899490212975212713012598
OPM %14%21%23%20%14%12%23%12%8%18%16%16%14%
Other Income +888210,71785899192999099676885
Interest726719239121124116118148112110918683
Depreciation1051066959606160616161646162
Profit before tax-632-57210,61593-14126-13-3254434638
Tax %0%3%-0%0%0%0%0%0%0%0%0%0%0%
Net Profit +-633-58710,66693-14126-13-3254434638
EPS in Rs-1.18-1.0919.860.17-0.000.010.23-0.02-0.060.100.080.090.07

Financials of RattanIndia Power

Profit & Loss

Annual income statement trend

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales +6252,5961,3912,0541,9241,7741,5603,2603,2313,3643,2842,9913,017
Expenses +6001,6436781,4991,3721,2669202,4572,4932,7182,6992,5862,537
Operating Profit26953712555551508640803738646585405480
OPM %4.1%37%51%27%29%29%41%25%23%19%18%14%16%
Other Income +6181155148-1,1552,8781,074-2832810,976357355319
Interest5461,2041,2381,9542,3042,8052,2412,3422,5122,363479461370
Depreciation190236254400420417416414404382241246248
Profit before tax-649-406-624-1,650-3,328165-942-1,981-1,8498,87622252181
Tax %2%6%1%1%0%0%0%0%1%-0%0%0%
Net Profit +-664-432-631-1,663-3,328165-942-1,981-1,8708,89722252181
EPS in Rs-2.25-1.46-2.13-5.63-11.240.33-1.75-3.69-3.4816.570.410.100.34
Dividend Payout %0%0%0%0%0%0%0%0%0%0%0%0%

Financials of RattanIndia Power

Balance Sheet

Capital structure and asset base

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Sep 2026
Equity Capital2,9532,8452,8452,9452,9534,9405,3705,3705,3705,3705,3705,3705,370
Reserves2,1441,9021,223-447-3,711-4,510-5,995-8,032-9,903-1,006-785-732-648
Borrowings +12,21613,55214,70214,63313,87112,51012,25511,54711,0183,5623,6153,7113,735
Other Liabilities +1,3722,2252,4204,2386,3286,1566,9858,77310,8871,6401,5961,2651,197
Total Liabilities18,68420,52521,19121,37019,44119,09518,61517,65817,3729,5669,7969,6139,654
Fixed Assets +8,7959,26810,79315,01114,59214,41013,99513,38113,0516,4126,2536,1035,981
CWIP6,6746,6596,3392,2832,3541,5841,5741,1421,11067652121
Investments20070101932750480000
Other Assets +3,1954,5983,9884,0662,3012,8263,0463,1313,2033,0873,4783,4893,652
Total Assets18,68420,52521,19121,37019,44119,09518,61517,65817,3729,5669,7969,6139,654

Financials of RattanIndia Power

Cash Flows

Operating, investing and financing cash movement

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity +-185111,2062158366107369341,0151,306410372
Cash from Investing Activity +-237-108-493-107-161-9110159-5-4628766
Cash from Financing Activity +372169-722-235-801-476-795-956-977-902-440-605
Net Cash Flow-4971-9-127-12744423733-5857-168
Free Cash Flow-962-160784-518155957339239851,207293294
CFO/EBITDA Share of operating profit converting into cash: CFO (before tax) / Operating Profit-698%2%170%40%152%120%109%117%137%203%70%89%

Financials of RattanIndia Power

Ratios

Working capital efficiency and return ratios

Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days120120208236237316457281282224271336
Inventory Days
Days Payable
Cash Conversion Cycle120120208236237316457281282224271336
Working Capital Days-796-83-580-741-1,318-973-1,457-1,048-1,757124198212
ROCE %-1%4%3%2%2%2%11%8%9%8%9%6%
3out of 100

Momentum score · price trend

3 out of 100 — Cooling

Over the past year its share price has done worse than most of the stocks we track.

PeriodShare price changeBetter than … of 1,910 stocks
Last 12 months−42.0%9%
Last 6 months−37.6%3%
Last 3 months−28.1%6%

The price is 83.9% below its all-time high of ₹39.25 (30 Oct 2009). Stocks more than 20% below their peak have their score halved, so 6 became 3.

How we calculate it

“Better than 30%” means that over that period the share price did better than 30 out of every 100 stocks we track (1,910 Indian companies worth ₹500 Cr or more, with at least a year of prices).

The score weighs the longer periods more: 40% × 12-month + 40% × 6-month + 20% × 3-month. For RattanIndia Power: 0.4 × 9 + 0.4 × 3 + 0.2 × 6 = 6, halved to 3 because the price is more than 20% below its all-time high.

Strengthening is 70 and above, Steady 40 to 70, Cooling below 40. Scores are recalculated every night after the market closes.

Full methodology →

This describes only how the share price has moved up to 2 Nov 2026, compared with other stocks. It says nothing about the business, and it is not a prediction, a price target or a recommendation to buy or sell.

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What RattanIndia Power's management said in earlier quarters

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