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Reliance Power Ltd (RPOWER)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532939 NSE: RPOWER Power Generation/Distribution | Small Cap | Reliance Power Share Price

₹23.80 -0.28 (-1.16%)

As on 27-Jul'26 16:59

Reliance Power Ltd (RPOWER)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 532939 NSE: RPOWER Power Generation/Distribution | Small Cap | Reliance Power Share Price

₹23.80 -0.28 (-1.16%)

As on 27-Jul'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹9,843 Cr.
Current Price
₹23.8
52-Week Low / High
₹20 / 58
TTM EPS
₹-0.8
TTM Sales
₹7,620 Cr.
Book Value per Share
₹35.3
P/E Ratio
0.00
Industry PE
27.9
Price to Book (P/B)
0.67
Lower than its 5-year historical median
Price to Sales (P/S)
1.29
Lower than its 5-year historical median
EV/EBITDA
8.40
Lower than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
-2.31%
Underperforms industry median
Return on Capital Employed (ROCE)
5.07%
Outperforms industry median
Return on Assets (ROA)
-0.81%
Operating Profit Margin
31%
Net Profit Margin
-4.42%
Gross Profit Margin
14%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Improving versus 3-year growth rate
0.49%
Operating Profit Growth (1 Year)
Improving versus 3-year growth rate
51.66%
Net Profit Growth (1 Year)
-
-111.43%
Asset Quality
Promoter Holding
24.98%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹10,459 Cr.
Equity
₹4,135.8 Cr.
Face Value
₹10
All Time Low / High
₹1.00 / 565.94

Reliance Power stock performance

Key Ratios
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Check Before You Invest

Quality

Somewhat Good

Valuation

Undervalued

Price Trend

Weak
Q.1 Is Reliance Power Ltd a good quality company?
Reliance Power Ltd is a average quality company, based on a somewhat consistent multi-year financial track record.

This assessment is based on company’s performance on Revenue growth, ROCE, Equity and Assets, key margin ratios, cash conversion cycle, and debt to cash flow from operations and how it compares with its long term averages.

We have analysed the performance of the company on the following:

  • How has it performed on generating Profits?

    By checking its Revenue growth, Gross, Operating and Net Margins compared to its last 5-year median.

  • How efficiently has it utilized Capital?

    By checking its ROCE, ROA, ROE and its Cash Conversion Cycle.

  • How is it managing its Debt?

    By checking its Debt to Equity and Cash Flow from Operations.

How does Reliance Power Ltd performance compare with that of its Peers?
Q.1 Revenue growth of Reliance Power Ltd vs industry peers?
Reliance Power Ltd revenue CAGR is -0.81%, compared to the industry median CAGR of 0.00%, indicating slower growth and losing its market share.
Q.1 Promoter shareholding and pledge status of Reliance Power Ltd?
Promoters hold 24.98% of the Reliance Power Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of Reliance Power Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -7.9% based on the current price.

10 Year X-Ray :

Analysis of Financial Track Record (Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end)

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end

Data adjusted to bonus, split, extra-ordinary income, rights issue and change in financial year end.

Financial track record gives insight into the company's performance on key parameters over the past ten years. MoneyWorks4me’s proprietary colour codes make it easy for retail investors to gauge the company’s past performance.
Reliance Power Ltd has performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
ROCE % 7.9%7.3%0.6%-2.7%7.5%5.1%6.6%1.3%16.8%5.1%-
Value Creation
Index
-0.4-0.5-1.0-1.2-0.5-0.6-0.5-0.90.3-0.6-

Growth Parameters

Sales 10,3969,5938,2017,5627,9347,5037,5147,8937,5837,6207,620
Sales YoY Gr.--7.7%-14.5%-7.8%4.9%-5.4%0.1%5%-3.9%0.5%-
Adj EPS 43.1-10.4-14.40.8-2.8-3-5.51.5-0.2-0.8
YoY Gr.--23.5%-435%NANA-459%NANANA-114.6%-
BVPS (₹) 76.275.76242.343.734.130.828.936.235.335.3
Adj Net
Profit
1,133868-2,902-4,042219-953-1,128-2,213607-90-335
Cash Flow from Ops. 4,7054,3654,2234,5434,1493,6134,0243,1741,9382,824-
Debt/CF from Ops. 77.37.26.36.26.45.35.97.85.2-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales -3.4%-0.8%0.5%0.5%
Adj EPS -172.4%-177.6%NA-114.6%
BVPS-8.2%-4.2%4.6%-2.6%
Share Price -7.9% 15.8% 13.9% -55.8%

Key Financial Parameters

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity %
5.54.1-15-27.61.8-7.9-9.7-19.14.3-0.6-2.3
Op. Profit
Mgn %
43.946.349.440.546.43725.614.821.13131
Net Profit
Mgn %
10.99.1-35.4-566.2-12.1-14.1-288-1.2-4.4
Debt to
Equity
1.51.51.82.42.121.81.6110.6
Working Cap
Days
725761809681495522501402350328109
Cash Conv.
Cycle
1261121211351201421501119999-125

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Sales10,3969,5938,2017,5627,9347,5037,5147,8937,5837,620
Operating Expenses + 5,8895,2074,2324,5994,3594,7685,6496,7356,0255,257
Manufacturing Costs4,9434,2663,1203,1543,3853,3133,9664,1664,2374,200
Material Costs0000000000
Employee Cost 183187187209156174179184200232
Other Costs 7647549261,2368181,2811,5052,3851,587825
Operating Profit 4,5064,3863,9692,9633,5752,7351,8651,1571,5582,362
Operating Profit Margin (%) 43.3%45.7%48.4%39.2%45.1%36.5%24.8%14.7%20.5%31.0%
Other Income + 4962783337004551843403681,225370
Exceptional Items 00-3,153-4,004401,037-403,230-382
Interest 2,8432,9263,2063,0542,5392,7212,5042,4512,0561,666
Depreciation 7347598388361,0831,0771,0171,062910829
Profit Before Tax 1,425979-2,896-4,232412-879-279-2,0283,047-145
Tax 3211441824-154464214100192
Profit After Tax 1,104836-2,913-4,255427-923-343-2,2422,947-337
PAT Margin (%) 10.6%8.7%-35.5%-56.3%5.4%-12.3%-4.6%-28.4%38.9%-4.4%
Adjusted EPS (₹)3.93.0-10.5-14.50.7-2.8-1.3-5.27.3-0.8
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of Reliance Power - Consolidated

YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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YTD 1Y 3Y 5Y 10Y Max
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Analyst's Notes

data not found
No data found!

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26

Equity and Liabilities

Shareholders Fund + 21,36821,23517,37711,86912,24611,58111,51511,61415,69215,731
Share Capital 2,8052,8052,8052,8052,8053,4003,7354,0174,0174,136
Reserves 18,56218,43014,5729,0649,4418,1817,7807,59711,67511,595
Debt +29,93528,02327,03024,17220,62517,40214,66511,02410,98610,589
Long Term Debt26,29024,20118,09119,86116,83114,21412,2409,40910,2449,956
Short Term Debt3,6453,8228,9394,3113,7933,1882,4251,614743634
Minority Interest0001353156816221692000
Trade Payables380361427434415499519457238221
Others Liabilities 13,40512,57113,26015,58816,04718,82620,22620,75014,49614,835
Total Liabilities 65,08762,19058,09553,41650,90149,93048,61743,84541,41241,376

Fixed Assets

Net Fixed Assets +34,85134,88135,90338,57437,19036,30835,77633,58431,85931,325
Gross Block38,20639,72043,84948,35349,16750,39952,16152,91652,37353,715
Accumulated Depreciation3,3564,8407,9469,78011,97714,09116,38519,33320,51522,390
CWIP 7,4036,9134,2763,6151,9122,0202,3201,2931,3871,720
Investments 79928022430363739209173142
Inventories1,0297291,0121,0148748289259619271,016
Trade Receivables2,9882,4782,7382,3612,4103,2142,6801,6501,5211,310
Cash Equivalents 9589162712843156446519189731,705
Others Assets 17,06015,99313,6717,5388,1646,8796,2265,2294,5724,156
Total Assets 65,08762,19058,09553,41650,90149,93048,61743,84541,41241,376

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Cash Flow From Operating Activity + 4,7054,3654,2234,5434,1493,6134,0243,1741,9382,824
PBT 1,425979-2,938-4,232412-879-279-2,0283,047-145
Adjustment 3,3353,6277,3858,2113,4974,4873,4505,183-1843,008
Changes in Working Capital 32-32-19668225314191153-88518
Tax Paid -88-211-28-119-40-49-58-34-33-57
Cash Flow From Investing Activity + -2,14235460-247486284-354-192453-212
Capex -575-447-43-544-134-268-38451153-116
Net Investments 157585761980-036-32-224-179
Others -1,7232162699619552-6-21252583
Cash Flow From Financing Activity + -3,389-4,311-4,839-4,200-4,615-3,849-3,623-2,734-2,435-1,828
Net Proceeds from Shares 000000024000
Net Proceeds from Borrowing -1,405-2,247-3,155-1,867-1,763-1,741-1,226-1,304-1,280-723
Interest Paid -2,732-2,992-2,867-2,114-1,834-1,583-1,836-1,450-1,438-1,191
Dividend Paid 0000000000
Others 7489281,184-219-1,017-524-561-22028386
Net Cash Flow -826408-55696194846248-44785

Financial Ratio

PARTICULARSMar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26
Ratios
ROE (%)5.313.92-15.09-29.093.54-7.75-2.97-19.3922.53-2.31
ROCE (%)7.887.280.62-2.667.525.066.571.3416.815.07
Asset Turnover Ratio0.160.150.140.140.150.150.150.170.180.18
PAT to CFO Conversion(x)4.265.22N/AN/A9.72N/AN/AN/A0.66N/A
Working Capital Days
Receivable Days114.30104116.10123.10109.70136.80143.10100.1076.3067.80
Inventory Days37.8033.4038.7048.9043.4041.4042.6043.6045.4046.50
Payable Days0000000000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *0.000.000.000.000.000.000.000.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

Reliance Power Ltd FAQs

The current trading price of Reliance Power on 27-Jul-2026 16:59 is ₹23.80.

Market capitalization or market cap is determined by multiplying the current market price of a company's shares with the total number of shares outstanding. As of 26-Jul-2026 the market cap of Reliance Power stood at ₹9,843.1 Cr

The latest P/E ratio of Reliance Power as of 26-Jul-2026 is 736.2.

The latest P/B ratio of Reliance Power as of 26-Jul-2026 is 1.04.

The 52-week high of Reliance Power is ₹57.88 and the 52-week low is ₹20.23.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Reliance Power is ₹1.63 ( Cr.) .

Past 10 year's financial track record analysis by Moneyworks4me indicates that Reliance Power Ltd is a average quality company.

The key valuation ratios of Reliance Power Ltd's currently when compared to its past seem to suggest it is in the Undervalued zone.

The Price Trend analysis by MoneyWorks4Me indicates it is Weak which suggest that the price of Reliance Power Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About Reliance Power Ltd

Reliance Power was incorporated as Bawana Power Private Limited on January 17, 1995, its name changed to Reliance Delhi Power Private Limited by a special resolution of the members passed at the EGM on February 1, 1995. On January 23, 2004 the Name got changed to Reliance EGen Private Limited by a special resolution of the members passed at the EGM. On March 5, 2004 the name changed to Reliance Energy Generation Private Limited by a special resolution of the members passed at the EGM. Finally on July 4, 2007 the name got changed to Reliance Power Limited by a special resolution of the members passed at an EGM.

The company was established to carry on all or any of the business of producers, manufacturers, generators, suppliers, distributors, transformers, converters, transmitters, processors, developers, stores, procurers, carriers and dealers in electricity, all form of energy and any such products and by-products derived from such business including without limitation, steam, fuels, ash, conversion of ash into bricks and any product derived from or connected with any other form of energy, including, without limitation to conventional sources such as heat, thermal, hydel and/or from non-conventional sources such as tidalwave, wind, solar, geothermal, biological, biogas and CBM.

Reliance Power Limited is part of the Reliance Anil Dhirubhai Ambani Group and is established to develop, construct and operate power projects domestically and internationally. The Company on its own and through subsidiaries is currently developing 13 medium and large sized power projects with a combined planned installed capacity of 28,200 MW, one of the largest portfolios of power generation assets under development in India. Our 13 power projects are planned to be diverse in geographic location, fuel type, fuel source and off-take, and each project is planned to be strategically located near an available fuel supply or load center. The identified project sites are located in western India (12,220 MW), northern India (9,080 MW) and northeastern India (2,900 MW) and southern India (4,000 MW).

They include six coal-fired projects (14,620 MW) to be fueled by reserves from captive mines and supplies from India and abroad, two gas-fired projects (10,280 MW) to be fueled primarily by reserves from the Krishna Godavari Basin (the 'KG Basin') off the east coast of India, and four hydroelectric projects (3,300 MW), three of them in Arunachal Pradesh and one in Uttarakhand. Reliance Power has acquired the two ultra mega power projects of 4,000 MW each at Sasan in Madhya Pradesh and Krishnapatnam in Andhra Pradesh. The 7,480 MW project to be located at Dadri in Uttar Pradesh is expected to be the largest gas-fired power project at a single location in the world. We intend to sell the power generated by these projects under a combination of long-term and short-term PPAs to state-owned and private distribution companies and industrial consumers.

Reliance Power's 4,000 MW Sasan Ultra Mega Power Project (SUMPP)  using super-critical technology has been registered  with Clean Development Mechanism Executive Board (CDM-EB) of United Nations Framework Convention on Climate Change (UNFCCC). The  registration with  CDM-EB allows Reliance Power’s Sasan Project  to earn certified emission reduction (CER) credits, each equivalent to one tonne of CO2.Reliance Power’s Project is  the world’s largest power generation plant ever registered.

 
Reliance Power has won Euromoney’s ‘Deal of the year - 2010’ for its Sasan Ultra Mega Power Project.

Milestones:

  • January 1995 The Company was originally incorporated as Bawana Power Private Limited.
  • March 2004 The Company was converted to a public company.
  • April, 2005 The Company entered into a MoU with the Government of Maharashtra for setting up of thermal power plant of 1,200 MW and a gas based power plant of 2,800 MW at a suitable location. The plant is now being set up at Shahapur in Raigad district of Maharashtra.
  • May 2005 Letter of Award for Urthing Sobla hydro power project awarded to REL*
  • September 2005 Letter of Award for Siyom project awarded to REL*
  • September 2005 Letter of Award for Tato II project awarded to REL*
  • April 2006 REL entered into a MoU for setting up a power plant of 300 MW at Butibori in Nagpur district of Maharashtra.*
  • November 2006 The Company acquired RPSCL from Aditya Birla Power Supply Company Limited which company is setting up 1,200 MW Coal Based Power Plant at Rosa, Shahjahanpur, Uttar Pradesh.
  • August 2007 The Company acquired SPL from Power Finance Corporation Limited, which is setting up 3,960 MW pithead power plant at Sasan, Madhya Pradesh.
  • September 29, 2007 Amalgamation of RPUPL with the Company becomes effective.
  • November 30, 2007 Letter of Award for Krishnapatnam UMPP awarded to Reliance Power
  • October 28, 2010- RPower places an order with Shanghai Electric Group Co (SEC) for 30,000 megawatt (MW) capacity of boiler, turbine, generator packages (BTG) for its coal based power plants, the world’s largest BTG order ever and is valued at around $10 billion.
  • February 4,2011- Reliance Power’s wholly owned subsidiary Sasan Power becomes eligible for Carbon Credits as per accreditation accorded by the executive board of the Clean Development Mechanism (CDM).
  • July10,2011- Reliance Power’s imported coal based 3960 MW Krishnapatnam Ultra Mega Power Project (KUMPP), was registered with Clean Development Mechanism Executive Board (CDM-EB) of United Nations Framework Convention on Climate Change (UNFCCC).
  •  Reliance Powerered 3,960 MW Krishnapatnam Ultra Mega Power Project
    - Reliance Powerered 4,000 MW Sasan Power Project in Madhya Pradesh, gets approval for carbon credits
  • 2012
    Reliance Power - Reliance Power entered into a Strategic Partnership with China Datang

Subsidiary:

  • Sasan Power Limited
  • Maharashtra Energy Generation Limited
  • Vidarbha Industries Power Limited
  • Rosa Power Supply Company Limited
  • Tato Hydro Power Private Limited
  • MP Power Generation Private Limited
  • Siyom Hydro Power Private Limited
  • Urthing Sobla Hydro Power Private Limited
  • Kalai Power Private Limited
  • Coastal Andhra Power Limited

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