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RattanIndia Power Ltd (RTNPOWER)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533122 NSE: RTNPOWER Power Generation/Distribution | Small Cap | RattanIndia Power Share Price

₹9.29 0.04 (0.43%)

As on 24-Jun'26 16:59

RattanIndia Power Ltd (RTNPOWER)

Share Analysis – Quality, Valuation Zone, Price Trend & DeciZen Rating BSE: 533122 NSE: RTNPOWER Power Generation/Distribution | Small Cap | RattanIndia Power Share Price

₹9.29 0.04 (0.43%)

As on 24-Jun'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹4,989 Cr.
Current Price
₹9.3
52-Week Low / High
₹8 / 17
TTM EPS
₹0.1
TTM Sales
₹2,991 Cr.
Book Value per Share
₹9
P/E Ratio
107.08
Higher than its 5-year historical median
Industry PE
29.8
Price to Book (P/B)
1.03
Higher than its 5-year historical median
Price to Sales (P/S)
1.67
Higher than its 5-year historical median
EV/EBITDA
11.25
Higher than its 5-year historical median
Dividend Yield
0%
Profitability Efficiency
Return on Equity (ROE)
4.61%
Outperforms industry median
Return on Capital Employed (ROCE)
8.44%
Outperforms industry median
Return on Assets (ROA)
2.18%
Operating Profit Margin
16.7%
Net Profit Margin
6.58%
Gross Profit Margin
14.1%
Growth Momentum
1-yr vs 3-yr growth
Sales Growth (1 Year)
Slowing versus 3-year growth rate
-2.38%
Operating Profit Growth (1 Year)
Slowing versus 3-year growth rate
-13.25%
Net Profit Growth (1 Year)
-
-
Asset Quality
Promoter Holding
44.06%
Pledged shares (%) of Promoter's holding (%)
0.00%
Reserves
₹-528 Cr.
Equity
₹5,370.1 Cr.
Face Value
₹10
All Time Low / High
₹0.93 / 45.50

RattanIndia Power stock performance

Key Ratios
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Quality

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Valuation

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Price Trend

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Q.1 Is RattanIndia Power Ltd a good quality company?
RattanIndia 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 RattanIndia Power Ltd performance compare with that of its Peers?
Q.1 Revenue growth of RattanIndia Power Ltd vs industry peers?
RattanIndia Power Ltd revenue CAGR is 13.11%, compared to the industry median CAGR of 0%, indicating faster growth and gaining its market share.
Q.1 Promoter shareholding and pledge status of RattanIndia Power Ltd?
Promoters hold 44.06% of the RattanIndia Power Ltd, with 0.00% of their stake pledged, indicating no pledge risk.
Q.1 Stock return of RattanIndia Power Ltd over the last decade?
Over the last 9 year(s), the stock has delivered a CAGR of -0.3% based on the current price.

10 Year X-Ray : Login to view analysis.

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.
RattanIndia 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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
ROCE % 7%5.4%4.6%-16.2%34.2%7.6%9.6%9.3%-5.5%8.4%-
Value Creation
Index
-0.5-0.6-0.7-2.21.4-0.5-0.3-0.3-1.4-0.4-

Growth Parameters

Sales 2,5411,3352,0151,9091,7741,5603,2603,2313,3643,2842,991
Sales YoY Gr.--47.5%51%-5.3%-7.1%-12.1%109%-0.9%4.1%-2.4%-
Adj EPS -0.4-1.1-1.5-3.80.10.20.70.6-0.30.40.1
YoY Gr.-NANANANA157.1%261.1%-4.6%-146.8%NA-
BVPS (₹) 17.916.815.66.29.69.29.810.48.58.99
Adj Net
Profit
-111-317-431-1,12136.596.7348334-15621748
Cash Flow from Ops. 2711,2203208546167009401,0241,333410-
Debt/CF from Ops. 28.76.624.38.28.97.14.73.82.78.6-

CAGR

9 Years 5 Years 3 Years 1 Years
Sales 2.9%13.1%0.3%-2.4%
Adj EPS NA41.7%-14.9%NA
BVPS-7.4%-1.5%-3.2%4.7%
Share Price -1.3% 5.3% 25.7% -34.1%

Key Financial Parameters

Mar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25TTM
Return on
Equity %
-2.1-6.2-9-34.91.126.86.1-3.14.61
Op. Profit
Mgn %
38.255.429.838.134.823.824.823.618.816.712.3
Net Profit
Mgn %
-4.4-23.8-21.4-58.72.16.210.710.3-4.66.61.6
Debt to
Equity
1.51.61.73.81.210.80.70.80.70.6
Working Cap
Days
304720475475524680339353329346214
Cash Conv.
Cycle
88247204292392508264282248257125

Profit And Loss

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Sales2,5411,3352,0151,9091,7741,5603,2603,2313,3643,284
Operating Expenses + 1,5696001,4151,2361,1811,1882,4522,4722,7322,736
Manufacturing Costs1,4915141,2221,0779407732,3222,3022,5512,547
Material Costs0000000000
Employee Cost 41474646523949566063
Other Costs 373914611318937681115121126
Operating Profit 972735600673593372808759632548
Operating Profit Margin (%) 38.2%55.1%29.8%35.3%33.4%23.8%24.8%23.5%18.8%16.7%
Other Income + 99169224180220617353350370393
Exceptional Items 000-2,3372,667000-1,2450
Interest 9841,0179971,0751,354664586534568479
Depreciation 195208239233228228227222237247
Profit Before Tax -108-321-411-2,7921,89997348353-1,048216
Tax 007000020-200
Profit After Tax -108-321-418-2,7921,89997348333-1,028216
PAT Margin (%) -4.3%-24.0%-20.8%-146.0%107.0%6.2%10.7%10.3%-30.6%6.6%
Adjusted EPS (₹)-0.4-1.1-1.4-9.53.80.20.70.6-1.90.4
Dividend Payout Ratio (%)0%0%0%0%0%0%0%0%0%0%

Valuation of RattanIndia Power - Standalone

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'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25

Equity and Liabilities

Shareholders Fund + 5,2784,9574,6071,8184,7504,9295,2765,6084,5804,795
Share Capital 2,9532,9532,9532,9534,9405,3705,3705,3705,3705,370
Reserves 2,3252,0041,654-1,135-190-441-94238-790-575
Debt +7,2337,4056,5635,5995,0364,4413,1292,7823,3493,512
Long Term Debt5,7495,3874,6303,9964,5154,4413,1292,5543,0993,262
Short Term Debt1,4842,0181,9331,60352100229250250
Minority Interest0000000000
Trade Payables244124514112787129157173
Others Liabilities 1,3891,7953,2334,4862,0281,9142,7272,6081,6951,525
Total Liabilities 14,14314,16914,44911,91611,82511,31011,22011,1289,78210,006

Fixed Assets

Net Fixed Assets +7,3727,4157,4247,1936,9686,7416,5336,3846,3816,216
Gross Block7,7678,0198,2658,2588,2448,2418,2768,3498,5668,632
Accumulated Depreciation3966038411,0651,2761,5001,7431,9652,1852,416
CWIP 7157376506469999109776765
Investments 3,1413,3723,5291,7601,8311,2271,2631,24100
Inventories26371142432644268127127238263
Trade Receivables8577891,3291,2331,5351,9512,5092,4922,0642,435
Cash Equivalents 198215835114241263232462362
Others Assets 1,7761,7021,217616634782415575569663
Total Assets 14,14314,16914,44911,91611,82511,31011,22011,1289,78210,006

Cash Flow

(All Figures are in Crores.)
PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Cash Flow From Operating Activity + 2711,2203208546167009401,0241,333410
PBT -108-321-411-2,7921,89997348353-1,048216
Adjustment 1,1471,2021,2153,661-1,0638557377452,018677
Changes in Working Capital -767337-484-15-220-259-143-76372-483
Tax Paid -111-1-08-13-81
Cash Flow From Investing Activity + -553-470244-148-10114459-16-46587
Capex -311-4480-0-11-10-31-99-117
Net Investments -254-6660-158-81138589-390148
Others 13-39913610-19181162455
Cash Flow From Financing Activity + 104-701-502-812-472-795-963-978-926-440
Net Proceeds from Shares 0000000000
Net Proceeds from Borrowing 234-276-110-443-431-480-735-795-567-334
Interest Paid -1,066-959-307-10-228-70-225-176-351-98
Dividend Paid 0000000000
Others 935534-85-360187-245-3-8-8-8
Net Cash Flow -1785062-10742493630-5857

Financial Ratio

PARTICULARSMar'16Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25
Ratios
ROE (%)-2.04-6.26-8.75-86.957.8226.826.11-20.184.61
ROCE (%)7.015.354.62-16.2234.177.569.569.27-5.468.44
Asset Turnover Ratio0.190.090.140.140.150.130.290.290.320.33
PAT to CFO Conversion(x)N/AN/AN/AN/A0.327.222.73.08N/A1.9
Working Capital Days
Receivable Days76.40225.10191.70244.90284.80407.90249.70282.50247.20250.10
Inventory Days24.3045.7019.3054.90110.80106.7022.1014.3019.8027.90
Payable Days0000000000

Management X-Ray

Shareholding Pattern

Promoter's Holding & Share Pledging

Pledged *88.6588.6588.6588.6588.6588.6559.010.000.000.00
* Pledged shares as % of Promoter's holding (%)

Top 5 Mutual Funds Holding

Last Visited Stocks

Announcements

RattanIndia Power Ltd FAQs

The current trading price of RattanIndia Power on 24-Jun-2026 16:59 is ₹9.29.

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 23-Jun-2026 the market cap of RattanIndia Power stood at ₹4,988.8 Cr

The latest P/E ratio of RattanIndia Power as of 23-Jun-2026 is 107.1.

The latest P/B ratio of RattanIndia Power as of 23-Jun-2026 is 1.03.

The 52-week high of RattanIndia Power is ₹16.94 and the 52-week low is ₹7.50.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of RattanIndia Power is ₹2,991 ( Cr.) .

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

The key valuation ratios of RattanIndia 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 RattanIndia Power Ltd is likely to Fall in the short term. However, please check the rating on Quality and Valuation before investing.

About RattanIndia Power Ltd

RattanIndia Power (RPL) is one of India’s largest private power generation company. The company has created world class power generation asset with its deep focus on execution using best in class equipment and technology. Equipped with state-of-the-art technology, robust O&M protocols, and a highly skilled workforce, the company remains well-positioned to navigate the evolving challenges of the Indian power sector. The company’s Amravati Thermal Power continues to be a strategic asset in its generation portfolio and a critical enabler of energy resilience. Plant continued to demonstrate exemplary operational performance and efficiency, consistently ranking among the top thermal power stations in terms of Plant Load Factor (PLF) - not only in Maharashtra, but also nationally. 

The company is a public company domiciled and incorporated under the provisions of the Companies Act applicable in India. The shares of RPL are listed on the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE) of India.

RattanIndia Power, previously the Indiabulls Power was established in 2007 to capitalize on emerging opportunities in the Indian power sector. In 2014, the name of the company changed from Indiabulls Power Ltd to RattanIndia Power Ltd.

Business area of the company 

The company is principally engaged in the business of dealing in power generation, distribution, trading and transmission and other ancillary and incidental activities.

Milestones

  • 2007: The company was established in 2007 with name ‘Indiabulls Power Limited (IPL)’
  • 2009: Listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 30, 2009
  • 2009-10: The company has entered into long-term power off-take arrangements with MSEDCL for the Amravati Phase I Power Project
  • 2010-11: IPL executed a long-term power purchase agreement (PPA) with Maharashtra State Electricity Distribution Company Ltd (MSEDCL) for sale of 1200 MW of power through Case-I competitive bidding route.
  • 2011-12: Amravati Thermal Power Project has been awarded ISO 14001 and OHSAS 18001 certification.
  • 2013: The 1st Unit of 1350 MW Amravati Phase-I has been synchronized with the grid and achieved Full Load on March 25, 2013.
  • 2013: Commercial operation of the Unit-1 has begun in June 2013 and accordingly, supplies to MSEDCL under long term power purchase agreement have commenced.
  • 2014: Unit 2 of Amravati Thermal Power Station (ATPS) achieved Commercial Operation Date (COD) on March 28, 2014.
  • 2014: The name of the company changed from Indiabulls Power Ltd to RattanIndia Power Ltd.
  • 2015:  RattanIndia Power - Successful Commissioned 3rd 270 MW unit of Amravati Thermal
  • 2015: The company has completed 25 km long railway line between Walgaon and Amravati power plant
  • 2015: Unit 1 of the 1350 MW Phase-I Nashik Project has been commissioned
  • 2017: The Nashik thermal power plant was commissioned in June-2017.
  • 2018: The Amravati plant has been awarded 5Star Rating by MPCB in March 2018 for Stack emission.
  • 2024: Sinnar Thermal Power Limited (STPL) has ceased to be a subsidiary of the company, with effect from January 19, 2024.
  • 2024: Bracond, a wholly owned subsidiary set up in Cyprus and two step down subsidiaries namely Genoformus and Renemark (the wholly owned subsidiaries of Bracond) also set up in Cyprus, stood dissolved with effect from March 27, 2024.

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