Adani Power Ltd Stock Analysis

BSE: 533096 | NSE: ADANIPOWER | Power Generation/Distribution | Large Cap

BSE Share Price 02-Dec-2022 18:01
325.35 -4.95 (-1.50%)

DeciZen - Make an Informed Decision on Adani Power

Overall Rating

1. Quality

2. Valuation

Overvalued

3. Price Trend

Semi Strong

Adani Power Price Chart

P/E Ratio (SA) :
0.00
Market Cap :
1,25,485.5 Cr.
52-wk low :
95.4
52-wk high :
432.8
Bole Toh?

1. Is Adani Power Ltd a good quality company?

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

2. Is Adani Power Ltd undervalued or overvalued?

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

3. Is Adani Power Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Semi Strong which suggest that the price of Adani Power Ltd is likely to Rise-somewhat in the short term. However, please check the rating on Quality and Valuation before investing.

10 Year X-Ray of Adani Power:

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.
Adani Power Ltd has not performed well majority of the past ten years indicating its past ten year financial track record is not good

Value Creation

Value Creation Index Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
ROCE % -2.3%8.9%4.3%6.4%-3.5%1.3%2.7%0.8%-0.2%1.1%-
Value Creation Index -1.2-0.3-0.7-0.5-1.3-0.9-0.8-0.9-1.0-0.9-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 6,33310,85310,62512,87510,8688,1212,4041,005447581667
YoY Gr. Rt. %-71.4%-2.1%21.2%-15.6%-25.3%-70.4%-58.2%-55.5%30%-
Adj EPS -82-1.20.3-8.7-2.8-0.6-1.6-1.3-0.5-0.4
YoY Gr. Rt. %-NA-160.7%NA-3089.7%NANANANANA-
BVPS (₹) 18.926.726.627.112.124.723.718.644.343.943.7
Adj Net Profit -1,918576-35297.6-3,343-1,081-215-620-503-182-162
Cash Flow from Ops. 1,8203,3862,3931,869659-333-16794.7-288-0.2-
Debt/CF from Ops. 15.47.51014.541.4-28.8-116.6151.8-21.8-80995.2-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales -23.3%-44.3%-37.7%30%
Adj EPS NANANANA
BVPS 9.829.422.9-0.9
Share Price 19.5% 57.4% 74% 222.8%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'13Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22TTM
Return on Equity % -35.99.3-4.51.2-48.8-15.2-2.3-7.6-4.1-1.1-1
Op. Profit Mgn % 10.831.723.527.511.610.90-1.28.77.88.3
Net Profit Mgn % -30.35.3-3.30.8-30.8-13.3-9-61.7-112.4-31.3-24.3
Debt to Equity 6.23.33.135.812.120.40.70.1
Working Cap Days 3782593483564124941,6792,6653,2913,931760
Cash Conv. Cycle 23-13-15663-5-15-80-141260

Recent Performance Summary

Debt to equity has declined versus last 3 years average to 0.72

Sales growth is good in last 4 quarters at 133.23%

Return on Equity is Poor

Sales growth has been subdued in last 3 years 0.00%

Net Profit has been subdued in last 3 years 0.00%

Latest Financials - Adani Power Ltd.

Standalone Consolidated
TTM EPS (₹) -0.4 26.8
TTM Sales (₹ Cr.) 667 36,725
BVPS (₹.) 43.7 62.8
Reserves (₹ Cr.) 12,994 20,346
P/BV 7.45 5.18
PE 0.00 12.14
From the Market
52 Week Low / High (₹) 95.35 / 432.80
All Time Low / High (₹) 15.20 / 432.80
Market Cap (₹ Cr.) 1,25,486
Equity (₹ Cr.) 3,856.9
Face Value (₹) 10
Industry PE 12.1

Management X-Ray of Adani Power :

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *31.6430.0529.2129.1128.6027.3727.3727.3725.3325.01
* Pledged shares as % of Promoter's holding (%)

Event Update

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Analyst's Notes

Key Ratios of Adani Power

Adj EPS (Rs.)
Sales (Cr.)
ROE (%)
ROCE (%)

News

Adani Power Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Adani Power on 02-Dec-2022 18:01 is : 325.4.
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 02-Dec-2022 18:01 the market cap of Adani Power stood at ₹ 1,25,485.5.
The latest PE ratio of Adani Power as of 02-Dec-2022 18:01 is 0.00.
The latest PB ratio of Adani Power as of 02-Dec-2022 18:01 is 7.45
The 52-week high of Adani Power is ₹ 432.8 and the 52-week low is ₹ 95.35.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue / sales of Adani Power is ₹ 667.0 ( Cr.) .

About Adani Power Ltd

Adani Power Limited (APL), a part of the diversified Adani Group, is the largest private thermal power producer in India. The company has a huge power generation capacity comprising thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan, and Chhattisgarh and a solar power project in Gujarat.

The company was the world’s first company to set up a coal-based Supercritical thermal power project registered under the Clean Development Mechanism (CDM) of the Kyoto protocol. Being a new entrant to power generation in 2006, it leveraged the project management skills of the Adani Group to set up its first power plant at Mundra successfully and efficiently.

The power sector in India has undergone a challenging period in the past few years, which put to test the resilience of its business model. By navigating the challenges through prudence, persistence and discipline, it has implemented the best available technologies and practices that can serve as benchmarks for the power industry.

Business area of the company

The company is engaged in the business of generation, accumulation, distribution and supply of power and to generally deal in electricity and to explore, develop, generate, accumulate, supply and distribute or to deal in other forms of energy from any source whatsoever.

Awards and recognitions

FY 2016-17

  • ISO 50001 Certification for Energy management System by TuV, Nord Germany;
  • JUSE 5S Certification for Work Place management System by JUSE, which is first ever in the group;
  • QCFI: Quality Leadership Award (Private Sector) - 2016 given on the recommendations from QCFI representatives and the data of the respective organization, and the contribution of Chief Executives from various Private Sector Organizations practicing Quality Concepts at 30th National Convention on Quality Concepts;
  • 5S case study in Competition at National Conclave on 5S Quality Circle Forum of India.( Highest Level of
    Recognition)

FY 2017-18

  • ISO 9001:2015- Certification for Quality Management System by TuV, Nord Germany
  • ISO 14001:2015- Certification for Environment Management System by TuV, Nord Germany
  • OHSAS 18001:2007- Certification for Occupational Health & Safety Assessment System by TuV, Nord
    Germany
  • Power Awards 2017 - Recognition and appreciation of the contributions by UPCL for meeting almost 12% of total power requirement of Karnataka, by Government of Karnataka
  • IPPAI Power Awards 2017 - The Most Innovative Young Power Professional by IPPAI (Independent Power Producers Association of India) at the 18th Regulators & Policymakers Retreat
  • Finalist - Asia Sustainability Reporting Awards(ASRA) 2017 - Recognition for best sustainability reporting in Asia by CSR Works International with support of British Chamber of Commerce and High Commission of Canada at Singapore.
  • Srishti Environment Award 2018 - Recognition for best Environment Management practices by Srishti Publications

FY 2018-19

  • The company’s wholly owned subsidiary Company namely Adani Power Rajasthan Limited has obtained: Srishti Environment Award 2018 - Recognition for best Environment Management practices.

FY 2019-20

  • Sword of Honour awarded to Adani Power Rajasthan Limited (APRL) by British Safety Council
  • Excellence award during 5S Conclave at Varanasi to two teams from APRL
  • Udupi Power Corporation Limited (UPCL) won Platinum prize at FICCI Safety Systems Excellence Awards
  • Adani Power (Mundra) Limited (APMuL) certified for ISO 45000:2018 (OHSAS) and ISO 50001:2018 (EMS) in December 2019
  • 5-star certificate from Maharashtra Pollution Control Board to Adani Power Maharashtra Limited (APML) for stack emissions for 3rd consecutive year
  • APML, APRL, UPCL certified with ISO45001:2018 (OHS), ISO50001:2018 (Environment Management System)
  • APMuL, APML, APRL and UPCL certified for 5S (Workplace Management System)
  • APML won the IMC Ramakrishna Bajaj National Quality Awards Trust Performance Excellence Trophy 2019

Milestones

2013

  • Adani Power’s Mundra plant sets a record in power generation
  • Adani Power Maharashtra Commissions 3rd Super Critical
  • Adani begins integrated coal MDO operations in India

2014

  • Adani Power commissions Kawai power project
  • Adani Power emerges as India’s largest private power producer
  • Adani Power to acquire Lanco Infratech’s Udupi project for Rs 6000 crore, Installed capacity to rise to 10,440 mw
  • Adani Power to acquire Avantha Power’s Korba West Power Project in Chattisgarh

2015

  • Adani Power completes acquisition of Lanco Infratech’s Udupi Power plant
  • Adani Power emerges as the largest private thermal power player in the country with a generation capacity of 10440 MW

2016

  • Adani unveils the world’s largest solar power plant in Tamil Nadu and dedicates it to the nation

2017

  • A 330 MW unit at Adani Power’s Mundra plant creates a new national record by running continuously for 600 days
  • Adani Group Ensures Energy Security at Competitive Tariff; Refutes Allegation

2019

  • APL completed the acquisition of GMR Chhattisgarh Energy Ltd. (GCEL)
  • APL completed the acquisition of Korba West Power Company Ltd. (KWPCL).
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