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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

₹23.38 -0.24 (-1.02%)

As on 12-Aug'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

₹23.38 -0.24 (-1.02%)

As on 12-Aug'26 16:59

Key Metrics
Valuation Multiples
Market Cap
₹9,769 Cr.
Current Price
₹23.4
52-Week Low / High
₹20 / 51
TTM EPS
₹-0.8
TTM Sales
₹7,690 Cr.
Book Value per Share
₹35.4
P/E Ratio
0.00
Industry PE
27.2
Price to Book (P/B)
0.67
Lower than its 5-year historical median
Price to Sales (P/S)
1.27
Lower than its 5-year historical median
EV/EBITDA
8.36
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
₹10,523 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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Quality

Somewhat Good
Check detailed performance

Valuation

Undervalued

Check Valuation charts

Price Trend

Weak
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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.

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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.

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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%, 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 -7.5% based on the current price.
View More

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 ⓘ10,3969,5938,2017,5627,9347,5037,5147,8937,5837,6207,690
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 (₹) ⓘ76.275.76242.343.734.130.828.936.235.335.4
Adj Net
Profit ⓘ		1,133868-2,902-4,042219-953-1,128-2,213607-90-318
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 -7.5% 14.5% 10.4% -46.7%

Key Financial Parameters ⓘ

Mar'17Mar'18Mar'19Mar'20Mar'21Mar'22Mar'23Mar'24Mar'25Mar'26TTM
Return on
Equity % ⓘ		5.54.1-15-27.61.8-7.9-9.7-19.14.3-0.6-2.2
Op. Profit
Mgn % ⓘ		43.946.349.440.546.43725.614.821.13130.7
Net Profit
Mgn % ⓘ		10.99.1-35.4-566.2-12.1-14.1-288-1.2-4.1
Debt to
Equity ⓘ		1.51.51.82.42.121.81.611-
Working Cap
Days ⓘ		725761809681495522501402350328109
Cash Conv.
Cycle ⓘ		1261121211351201421501119999-125

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!

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 (%)

Financials

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%
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
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
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

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Reliance Power Ltd FAQs

The current trading price of Reliance Power on 12-Aug-2026 16:59 is ₹23.38.

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 11-Aug-2026 the market cap of Reliance Power stood at ₹9,768.7 Cr

The latest P/E ratio of Reliance Power as of 11-Aug-2026 is 665.9.

The latest P/B ratio of Reliance Power as of 11-Aug-2026 is 1.03.

The 52-week high of Reliance Power is ₹50.90 and the 52-week low is ₹20.23.

The TTM revenue is Trailing Twelve Months sales. The TTM revenue/sales of Reliance Power is ₹1.32 ( 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, a constituent of the Reliance Group, is a leading private sector power generation company in India. The company has developed a diversified portfolio spanning thermal and renewable power projects, with capabilities across development, construction and operation of power plants. 

The company continues to pursue growth opportunities aligned with India's energy transition, with a focus on clean energy solutions, portfolio optimisation and disciplined capital allocation. Supported by a stronger balance sheet, reduced leverage and improved financial flexibility, the Company is well-positioned to strengthen its competitiveness and deliver sustainable long-term growth while contributing to India's evolving energy landscape.

Business area of the company

The company is engaged in the development and operation of power generation projects, supported by integrated coal resources and long-term power offtake arrangements. It has established a balanced portfolio comprising thermal and renewable assets, with a continued focus on operational efficiency and reliability.

Milestones

  • 1995: The Company was originally incorporated as Bawana Power Private Limited.
  • 2004: The Company was converted to a public company.
  • 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.
  • 2005: Letter of Award for Urthing Sobla hydro power project awarded to REL.
  • 2005: Letter of Award for Siyom project awarded to REL.
  • 2005: Letter of Award for Tato II project awarded to REL.
  • 2006: REL entered into a MoU for setting up a power plant of 300 MW at Butibori in Nagpur district of Maharashtra.
  • 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.
  • 2007: The Company acquired SPL from Power Finance Corporation Limited, which is setting up 3,960 MW pithead power plant at Sasan, Madhya Pradesh.
  • 2007: Amalgamation of RPUPL with the Company becomes effective.
  • 2007: Letter of Award for Krishnapatnam UMPP awarded to Reliance Power
  • 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. 
  • 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). 
  • 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).
  •  2012: Reliance Power entered into a Strategic Partnership with China Datang
  • 2013: Reliance Power - Reliance Power started Power Generation from the second unit of its 600MW Butibori Thermal Power Plant in Maharashtra.
  • 2014: Reliance Power signs exclusive Memorandum of Understanding to acquire 100% of entire Hydro Power Portfolio of Jaiprakash Power Ventures''. -Reliance has informed board that ''Boiler Lightup achieved for Third 660 MW unit of 3,960 MW Sasan Ultra Mega Power Plant''.
  • 2015: The company's 3,960 MW Sasan thermal power plant has been fully commissioned.
  • 2015: Reliance Power Signs MOU with Government of Bangladesh to Develop 3,000 MW of Power Capacity.
  • 2019: Reliance Power's Sasan project gets CERC nod to meet new environment norms.
  • 2020: Reliance Power’s wholly owned subsidiary -- Reliance Power Netherlands BV has won a lawsuit in the Central Jakarta district court in Indonesia, challenging the validity of Singapore arbitration award favouring Reliance Power.
  • 2020: Reliance Power, JERA sign loan agreement for project in Bangladesh.
  • 2021: Reliance Power allots 59.5 crore shares to Reliance Infrastructure.
  • 2022: Reliance Power along with subsidiary enters into MoU with Varde Partners for availing debt
  • 2024: Reliance Power secures 500 MW battery storage contract.
  • 2024: Reliance Power becomes debt-free company on standalone basis.
  • 2024: Reliance Power transfers wind power project to JSW Renewable Energy. 
  • 2025: Reliance Power’s arm inks 25-year long-term power purchase agreement with SECI.
  • 2025: Reliance Power signs commercial term sheet for PPA with Green Digital.

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