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India
Reported ownership for FY2027-Q2 as of 2026-09-30.
As of 06 Nov 2026, 03:30 pm
For Q2 FY27, Adani Power reported a Consolidated Profit After Tax (PAT) of ₹7,019 crore, a 141.5% increase year-on-year. This was driven by continuing revenue of ₹17,014 crore (+29.82%) and continuing EBITDA of ₹7,019 crore (+18.53%). The PAT figure includes a one-time prior-period revenue recognition of ₹2,422 crore from Gujarat PPA indexation revisions.
Adani Power has secured several key growth initiatives: a 25-year Power Supply Agreement with Uttarakhand Power Corporation Limited to supply 1,234 MW of thermal power; selection as the successful resolution applicant for GVK Energy Limited to enter hydro via its 330 MW Alaknanda plant; and a shareholders' agreement for a 770 MW joint venture hydropower project in Bhutan. Additionally, BHEL received orders worth up to ₹28,000 crore for four 2x800 MW projects from Adani Power.
As of November 5, 2026, the stock closed at ₹204.00, having gained 60% from its January 2026 low. It is trading near resistance at ₹204.38 and ₹207.06, with support at ₹199.62 and ₹199.21. The stock has returned +37.1% year-to-date but faces a current drawdown of -18.0%. Monthly trends show bullish momentum, while weekly indicators suggest some short-term consolidation.
As of 06 Nov 2026, 03:30 pm
Recent drawdown or price variability is high enough to warrant closer monitoring.
Primary driver: Price remains materially below a previous peak
The session opened materially below the previous close, indicating a sharp repricing at the open.
The price gap may increase short-term downside uncertainty and warrants review of the underlying context.
The session opened materially above the previous close, indicating a sharp repricing at the open.
The move may reflect new information; subsequent price follow-through is worth monitoring.
The session traded across a materially wider price range than usual.
Larger price swings can increase short-term uncertainty, especially if they continue.
Trading activity was substantially higher than usual and the price closed lower.
This may reflect stronger-than-usual market participation; follow-through and relevant company or market news merit review.
Latest complete financial results for Q2 FY27 and comparative quarterly trends.
| Metric | Q2 FY26 | Q1 FY27 | Q2 FY27(Latest) |
|---|---|---|---|
| Revenue From Operations | ₹13,457 crore | ₹18,902 crore | PEAK₹19,439 crore |
| Expenses | ₹10,342 crore | ₹13,022 crore | PEAK₹13,159 crore |
| Finance Costs | ₹842 crore | PEAK₹901 crore | ₹760 crore |
| Profit Before Exceptional Items And Tax | ₹3,966 crore | ₹6,300 crore | PEAK₹6,792 crore |
| Profit Loss For Period From Continuing Operations | ₹2,906 crore | ₹4,749 crore | PEAK₹7,022 crore |
| Basic Earnings Loss Per Share From Continuing And Discontinued Operations | ₹1.53 per share | ₹2.49 per share | PEAK₹3.59 per share |
Adani Power reported consolidated revenue from operations of ₹19,439 crore for the quarter ended 30 September 2026, up 2.8% QoQ and 44.5% YoY. Profit before tax increased 7.8% QoQ to ₹6,792 crore, while profit for the period rose 44.2% QoQ to ₹7,019 crore, supported by a ₹231 crore tax credit.
Revenue and pre-tax profit advanced sequentially, with expenses growing more slowly than revenue and finance costs lower than in Q1. The larger increase in reported profit also reflects the swing to a tax credit. Higher receivables and borrowings, alongside increased cash and investment balances, are notable movements in the quarter-end balance sheet.
Disclosed bulk and block transactions involving Adani Power, shown for the latest 90 days.
Exchange disclosures and regulatory announcements for Adani Power.
Adani Power Limited signed a 25-year Power Supply Agreement (PSA) with Uttarakhand Power Corporation Limited (UPCL) on November 4, 2026. The agreement covers the supply of 1,234 MW ex-bus net thermal power (from a 1,320 MW installed capacity plant), following Adani Power's selection as the successful bidder in UPCL's tender.
Adani Power Limited filed the transcript of its Q2 FY27 earnings conference call held on October 26, 2026. The company reported Consolidated Profit After Tax (PAT) of INR7,019 crores, a 141.5% increase year-on-year, driven by strong operating performance and one-time prior period revenue of INR2,422 crores from Gujarat PPA indexation revisions. Key strategic developments included a credit rating upgrade to AA+, securing a 25-year PPA for 1,320 MW from Uttarakhand, becoming the successful resolution applicant for GVK Energy Limited (entering hydro via the 330 MW Alaknanda plant), and signing a shareholders' agreement for a 770 MW joint venture hydropower project in Bhutan. Operationally, the company achieved a Plant Load Factor (PLF) of 70.1%, supplied 26.4 billion units, and noted grid synchronization of the first 660 MW unit at Korba Phase-II.
NAME(S)OF THE ACQUIRER AND ITS(PAC) : GQG Partners LLC
Adani Power Limited provided BSE Limited and the National Stock Exchange of India Limited with a link to the audio recording of its post-results update call with analysts and investors, held on October 26, 2026. The recording is available at adanipower.com/-/media/project/power/investors/investors-downloads/earnings-call/10048000-1.mp3. The notice contains no substantive business update.
Adani Power Limited issued its Q2 FY27 earnings presentation on October 25, 2026, ahead of its results conference call scheduled for October 26 at 11:30 a.m. IST. The presentation reports Q2 FY27 power sales volume of 26,385 MU, up 11.50% year over year, continuing revenue of ₹17,014 crore, up 29.82%, continuing EBITDA of ₹7,019 crore, up 18.53%, and reported PAT of ₹7,019 crore, up 141.51%. It also reports a ₹2,422 crore net one-time prior-period revenue recognition from realization of past customer dues. Substantive business updates include a Letter of Award from Uttarakhand Power Corporation Limited for a 25-year PSA covering 1,320 MW (1,234 MW net), selection as successful resolution applicant for GVK Energy Limited, and completion of amalgamation of 10 wholly owned subsidiaries following implementation of the scheme. This is an investor presentation notice accompanied by material operating, financial, and business updates.
Adani Power Limited has informed the Exchange about Copy of Newspaper Publication |SUBJECT: Copy of Newspaper Publication
Adani Power Limited has submitted to the Exchange, the financial results for the period ended September 30, 2026. |SUBJECT: Outcome of Board Meeting
Integrated Filing- Financials|Original|
Recent market and company developments associated with Adani Power.
Samco Securities has unveiled a basket of 12 investment picks for the Diwali Muhurat Trading session on November 8, 2026, comprising 10 Indian stocks and two US-listed ETFs. The recommendations span sectors including power, IT services, aerospace, and commodities, with specific technical entry levels, stop-losses, and target prices provided for each asset. The international ETF selections are intended to offer exposure to energy and healthcare while hedging against risks such as rising crude oil prices and a weakening rupee.
Samco Wealth has recommended 10 stocks across sectors such as power, IT, and defense for Muhurat Trading on November 7, emphasizing diversification following a volatile market year. The brokerage highlighted companies including Azad Engineering, Adani Power, HFCL, Tech Mahindra, and BSE, citing strong quarterly earnings growth and order book visibility as key drivers for the new Samvat.
Quant Small Cap Fund added Jio Platforms, Primo Chemicals, and three other stocks to its portfolio in October while increasing exposure to Adani Power and LIC Housing Finance. The fund exited five holdings including Delhivery and Jubilant Pharmova, reduced positions in Bandhan Bank and others, and maintained holdings in nearly 90 stocks. Managed by a team of seven investment professionals, the fund reported an AUM of Rs 30,809.27 crore in October, down from Rs 35,572 crore in September.
Globe Capital Markets has identified Adani Power, Bajaj Finance, Coforge, Siemens Energy India, Hindalco Industries, and Polycab India as top Diwali picks, projecting 22-34 per cent upside for the six stocks. The brokerage cites strong earnings growth drivers such as capacity expansion, AI-led productivity, and structural power infrastructure demand, while noting manageable risks like NIM compression and commodity volatility.
Adani Power shares have surged 60% from their January 2026 low to trade around Rs 206, driven by strong earnings growth and rising power demand that made it India’s most valuable listed power company in 2026. Brokerages hold mixed views, with Jefferies revising its target down to Rs 240 citing sector de-rating and downside risks like payment delays, while Elara Securities and JM Financial maintain positive outlooks based on the company's expansion plans and earnings visibility.
Adani Power has signed a 25-year Power Supply Agreement with Uttarakhand Power Corporation Limited to supply 1,234 MW of thermal power, following its selection as the successful bidder. The announcement contributed to the stock trading in focus, having previously closed 3.23% higher at Rs 201.40.
Adani Power has entered into a 25-year Power Supply Agreement with Uttarakhand Power Corporation Limited to supply 1,234 MW of thermal power. The agreement is backed by an installed capacity of 1,320 MW, securing a long-term revenue stream for the utility provider.
Adani Power has entered into a 25-year Power Supply Agreement with Uttarakhand Power Corporation Limited to supply 1,234 MW of ex-bus net thermal power, backed by an installed generation capacity of 1,320 MW.
Comprehensive Section Breakdown for Adani Power
Strategic Vision: Generates electricity through thermal and solar power projects.
• Operates a significant power generation capacity across multiple states.
• Engages in both thermal and solar power generation.
Revenue from operations increased for a second consecutive quarter, from ₹12,451 crore in FY2026-27 Q3 to ₹14,223 crore in Q4, ₹18,902 crore in Q1 and ₹19,439 crore in Q2. Total expenses rose 1.1% QoQ to ₹13,159 crore. Profit before exceptional items and tax reached ₹6,792 crore, up from ₹6,300 crore in Q1 and ₹2,945 crore in Q3. It was 71.2% higher than the ₹3,966 crore reported in the corresponding quarter a year earlier.
Earnings per share was ₹3.59, compared with ₹2.49 in Q1 and ₹1.53 in the year-ago quarter. Profit attributable to owners of the parent was ₹6,919 crore; non-controlling interests accounted for ₹100 crore.
The tax expense shifted from ₹1,552 crore in Q1 to a credit of ₹231 crore in Q2. Current tax was ₹229 crore, down from ₹1,476 crore, while deferred tax was a credit of ₹459 crore, compared with an expense of ₹75 crore. Profit for the period from continuing operations was ₹7,022 crore, above pre-tax profit; profit for the period was ₹7,019 crore after the ₹3 crore loss from associates and joint ventures. Net profit rose 44.2% QoQ and 141.5% YoY, outpacing the increase in pre-tax profit.
Finance costs declined 15.7% QoQ to ₹760 crore from ₹901 crore in Q1. At 30 September 2026, cash and cash equivalents stood at ₹3,897 crore, up from ₹928 crore at 31 March 2026. Other bank balances were ₹6,768 crore and current investments were ₹5,236 crore, compared with ₹1,491 crore at 31 March.
Trade receivables increased to ₹13,214 crore from ₹11,791 crore at 31 March 2026 and ₹9,438 crore at 30 September 2025. Inventories rose to ₹3,997 crore from ₹3,623 crore at 31 March. Current borrowings were ₹14,550 crore and non-current borrowings ₹47,310 crore, up from ₹10,726 crore and ₹42,830 crore, respectively, at 31 March. Property, plant and equipment was ₹68,227 crore, compared with ₹69,076 crore at the March year-end.
Category: Manufacturing
Operates thermal power plants strategically located across multiple Indian states, providing power to industrial and residential consumers.
Category: Manufacturing
Operates a solar power project situated in Gujarat, contributing to the company's electricity generation capacity.
Core Thesis: The company aims to provide sustainable, affordable, and reliable power by transforming generating units, adopting new technologies, reducing costs, and improving plant availability.
• Flexible Operation: Transforming generating units for flexible operation to adapt to changing energy demands. • Sustainable Operations: Adopting new technologies for sustainable and lower-emission operations. • Cost Affordability: Reducing generation costs to ensure power affordability for consumers. • Reliable Power Supply: Providing reliable power through improved plant availability and operational efficiency.