Adani Power Ltd - Stock Valuation and Financial Performance

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

Adani Power Share Price

608.70 -9.20 -1.49%
as on 12-Apr'24 10:20

DeciZen - make an informed investing decision on Adani Power

Overall Rating
Bole Toh

1. Quality

2. Valuation

Somewhat overvalued

3. Price Trend

Adani Power stock performance -

mw4me loader
P/E Ratio (SA):
10.95
Market Cap:
2,38,320.3 Cr.
52-wk low:
185.1
52-wk high:
647

Is Adani Power Ltd an attractive stock to invest in?

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 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 Somewhat overvalued zone.

3. Is Adani Power Ltd a good buy now?

The Price Trend analysis by MoneyWorks4Me indicates it is Strong which suggest that the price of Adani Power Ltd is likely to Rise 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 performed well in some of the past ten years indicating its past ten year financial track record is somewhat good

Value Creation

Value Creation Index Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
ROCE % 9.3%4.1%6.4%-4%1.3%2.7%-2%-0.2%19.1%21%-
Value Creation
Index
-0.3-0.7-0.5-1.3-0.9-0.8-1.2-1.00.70.9-

Growth Parameters

Growth Parameters Colour Code Guide

Sales 10,85310,62512,87510,8688,1212,4041,00544727,71136,68138,571
Sales YoY Gr.--2.1%21.2%-15.6%-25.3%-70.4%-58.2%-55.5%6,097%32.4%-
Adj EPS 2.5-1.50.3-9.2-2.8-0.6-3.4-1.31326.756.4
YoY Gr.--158.6%NA-3269%NANANANANA106.1%-
BVPS (₹) 26.726.627.112.124.723.718.644.347.973.2104.9
Adj Net
Profit
714-41997.6-3,545-1,081-215-1,322-5034,99610,29221,769
Cash Flow from Ops. 3,3862,3931,869659-333-16794.7-28810,2647,933-
Debt/CF from Ops. 7.51014.541.4-28.8-116.6151.8-21.83.94.1-

CAGR

CAGR Colour Code Guide

9 Years 5 Years 3 Years 1 Years
Sales 14.5%35.2%231.7%32.4%
Adj EPS 30.2%NANA106.1%
BVPS11.8%24.2%57.9%52.9%
Share Price 27.1% 63% 87.1% 216.3%

Key Financial Parameters

Performance Ratio Colour Code Guide

Mar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23TTM
Return on
Equity %
11.5-5.41.2-51.8-15.2-2.3-16.2-4.128.144.163.4
Op. Profit
Mgn %
3323.527.511.610.90-1.28.735.825.631.8
Net Profit
Mgn %
6.6-3.90.8-32.6-13.3-9-131.5-112.41828.156.4
Debt to
Equity
3.33.135.812.120.42.21.2-
Working Cap
Days
2593483564124941,6792,6652,96912516674
Cash Conv.
Cycle
-13-15663-5-15-80-141489310

Recent Performance Summary

Return on Equity has increased versus last 3 years average to 63.40%

Sales growth is growing at healthy rate in last 3 years 231.68%

Sales growth is good in last 4 quarters at 10.06%

Net Profit has been subdued in last 3 years 0.00%

Debt to equity has increased versus last 3 years average to 1.16

Latest Financials - Adani Power Ltd.

Standalone Consolidated
TTM EPS (₹) 56.4 60.5
TTM Sales (₹ Cr.) 38,571 47,230
BVPS (₹.) 104.9 112.1
Reserves (₹ Cr.) 36,596 39,390
P/BV 5.89 5.51
PE 10.95 10.21
From the Market
52 Week Low / High (₹) 185.10 / 647.00
All Time Low / High (₹) 15.20 / 647.00
Market Cap (₹ Cr.) 2,38,320
Equity (₹ Cr.) 3,856.9
Face Value (₹) 10
Industry PE 22.4

Management X-Ray of Adani Power:

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *27.3727.3725.3325.0125.0125.1525.0616.2415.8516.10
* Pledged shares as % of Promoter's holding (%)

Event Update

Login/Register to view analysis.

Analyst's Notes

Key Ratios of Adani Power

Adj EPS (Rs.)

Sales (Cr.)

ROE (%)

ROCE (%)

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Sales10,85310,62512,87510,8688,1212,4041,00544727,71136,681
Operating Expenses 7,2758,1639,3499,6117,2442,4181,04440817,87427,362
Manufacturing Costs6,6977,4938,7419,1977,0562,22191335816,82326,074
Material Costs0000-69700000
Employee Cost 157191189167123414233470530
Other Costs 421479419246133868918581758
Operating Profit 3,5782,4623,5261,257877-14-38399,8379,319
Operating Profit Margin (%) 33.0%23.2%27.4%11.6%10.8%-0.6%-3.8%8.7%35.5%25.4%
Other Income 6214125237354631,0669111344,0684,520
Interest 3,3392,4982,9513,1022,0081,2391,1756444,0873,307
Depreciation 1,1888811,1371,1218613835323,1163,143
Exceptional Items 02120-3,9081,5050-1,003000
Profit Before Tax -327-293-39-6,138-24-225-1,341-5036,7027,389
Tax -1,0610-136-83000-41,666-2,857
Profit After Tax 733-29397-6,054-24-225-1,341-4995,03610,246
PAT Margin (%) 6.8%-2.8%0.7%-55.7%-0.3%-9.4%-133.0%-111.0%18.2%27.9%
Adjusted EPS (₹)2.6-1.00.3-15.7-0.1-0.6-3.5-1.313.126.6
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Balance Sheet

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23

Equity and Liabilities

Shareholders Fund 7,7877,7169,0244,6739,5399,1287,17517,08518,46428,224
Share Capital 2,8722,8723,3343,8573,8573,8573,8573,8573,8573,857
Reserves 4,9154,8445,6908165,6825,2713,31813,22814,60724,367
Minority Interest0000000000
Debt22,31720,93824,03125,2749,53218,73914,3176,22437,58330,650
Long Term Debt17,60316,70314,72017,2272,24416,37511,72893130,46224,979
Short Term Debt4,7144,2359,3128,0477,2882,3652,5895,2937,1215,672
Trade Payables2,9154,1553,6984,509250139712133,4492,387
Others Liabilities 5,7644,9238,7937,3063859223261,08612,27111,570
Total Liabilities 38,78437,73145,54741,76219,70728,92822,53024,40871,76672,832

Fixed Assets

Gross Block27,86223,96725,44825,48776576076276470,02770,382
Accumulated Depreciation3,3953,8561,6512,76912215719222320,68523,800
Net Fixed Assets24,46720,11123,79722,71864260357054149,34246,583
CWIP 1464839680001184188
Investments 4,9165,6277,6627,7407,76817,15718,21619,3594,8346,373
Inventories9019828311,085754432,2082,324
Trade Receivables2751,4495,2351,7444212367109,49011,381
Cash Equivalents 413369430338211129101872,0151,692
Others Assets7,6659,1457,5558,06910,96911,0233,2724,4093,6934,290
Total Assets 38,78437,73145,54741,76219,70728,92822,53024,40871,76672,832

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Cash Flow From Operating Activity 3,3862,3931,869659-333-16795-28810,2647,933
PBT -465-69-39-6,138-24-225-1,341-5036,7027,389
Adjustment 4,1222,3413,3537,124732241,3305143,4481,593
Changes in Working Capital -309121-1441-337-381-163106-312338-974
Tax Paid 38-1-3110-3-113-225-75
Cash Flow From Investing Activity -31-2,575-3,236-555-3,513-8,2856,8163901,3862,824
Capex -1,033-775-1,088-590-10-1-7-642-920
Net Investments 1,112-414018-13257651,748-1,667-752
Others -110-1,797-2,28817-3,379-8,3426,752-1,3513,6954,497
Cash Flow From Financing Activity -3,3531801,330-953,8458,457-6,907-105-11,182-11,138
Net Proceeds from Shares 2,54201,1151,702000000
Net Proceeds from Borrowing -4,1673,220-2,0521,9691,2396,190-5,279-2,601-5,667-6,670
Interest Paid -2,237-2,363-2,600-2,051-167-450-630-363-3,569-2,721
Dividend Paid 0000000000
Others 509-6774,868-1,7142,7732,717-9982,858-1,947-1,747
Net Cash Flow 2-2-3710043-3468-381
PARTICULARSMar'14Mar'15Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23
Ratios
ROE (%)12.02-3.821.16-88.4-0.33-2.41-16.45-4.1128.3343.89
ROCE (%)9.186.848.62-8.937.774.25-0.660.6326.2417.84
Asset Turnover Ratio0.280.280.310.250.260.10.040.020.580.51
PAT to CFO Conversion(x)4.62N/A19.27N/AN/AN/AN/AN/A2.040.77
Working Capital Days
Receivable Days1630951174046915463104
Inventory Days36322632266131523
Payable Days0000-8,3358220000

Adani Power Ltd Stock News

Adani Power Ltd FAQs

Company share prices are keep on changing according to the market conditions. The closing price of Adani Power on 12-Apr-2024 10:20 is ₹608.7.
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 12-Apr-2024 10:20 the market cap of Adani Power stood at ₹2,38,320.3.
The latest P/E ratio of Adani Power as of 12-Apr-2024 10:20 is 10.95.
The latest P/B ratio of Adani Power as of 12-Apr-2024 10:20 is 5.89.
The 52-week high of Adani Power is ₹647.0 and the 52-week low is ₹185.1.
The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Adani Power is ₹38,571 ( 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).
Read More Read Less
You have 2 views remaining as a Guest User. To get DeciZen Rating of 3,500+ Stocks based on their Quality, Valuation and Price Trend Login Now
© 2024 The Alchemists Ark Pvt. Ltd. All rights reserved. MoneyWorks4Me ® is a registered trademark of The Alchemists Ark Pvt.Ltd.