Adani Power Q1 FY27 results: Net profit rises 42% YoY; board nods ₹15,000 crore fundraising plans

The jump in net profit comes amid tight control over finance costs despite growth in operations and an ongoing capital expenditure programme, Adani Power explained.

For Q1 FY27, the company’s revenue from operations increased 34% YoY to ₹18,902 crore in line with volume growth and power selling rates, as compared to ₹14,109 crore in Q1 FY26.

On the operational level, Adani Power’s earnings before interest, taxes, depreciation and amortisation (EBITDA) stood at ₹7,948 crore, marking a jump of 40% from ₹5,686 crore in the same quarter of the previous fiscal year.

The company’s EBITDA margin expanded to 42.05% in contrast to 40.3% YoY.

The firm said this was the highest ever quarterly performance, showcasing core profitability strength despite higher fuel costs. Its consolidated power sale volume was higher by 16.9% at 28.8 billion units (BU) in Q1 FY27 as against 24.6 BU in Q1 FY26 on the back of higher operating capacity and strong power demand growth.

Adani Power witnessed its highest ever quarterly performance on operating and financial results amidst rapidly rising power demand.

In Q1 FY27, India experienced a hotter-than-usual summer, with persistent heatwaves and high temperatures across most regions of the country. This drove peak power demand to a record high of 270.8 GW in May 2026, while energy consumption rose by 8.4% on a YoY basis to 485.4 BU during the quarter.

“Adani Power has once again demonstrated strength of its efficient and cost-competitive portfolio and operational excellence in various spheres by posting its highest ever quarterly EBITDA on continuing basis. APL has consolidated firmly on the path to expand its portfolio to 45GW, with rapid progress on ongoing projects and strong liquidity from current operations,” said S B Khyalia, CEO of Adani Power.

Adani Power fundraising plans

Along with the earnings, the board of directors has also approved fundraising plans worth ₹15,000 crore through a qualified institutional placement (QIP) or other permissible modes in one or more tranches with a face value of ₹2 each and/or other eligible securities.

The board also cleared a proposal to increase the company’s borrowing limits from ₹75,000 crore to ₹1,00,000 crore. The enhanced limit will be over and above the company’s paid-up capital, free reserves, and share premium.

Adani Power said that the company may use the increased limit to raise funds through loans, borrowings, or by issuing debt securities and other permissible instruments via private placement, public issue, or other modes in one or more tranches.

Jaiprakash Associates acquisition

In the reporting quarter, the Adani Group firm acquired power assets of Jaiprakash Associates under the Corporate Insolvency Resolution Process, comprising the 180 MW Churk power plant, a 24% stake in Jaiprakash Power Ventures Limited, and an 11.49% stake in Prayagraj Power Generation Company.

“As we expand our reach further with the acquisition of Jaiprakash Associates’ stake in power assets, we are also diversifying into domestic and international hydro power projects and preparing ourselves to enter new opportunities in the nuclear power field,” said Khyalia.

Update on ongoing projects

Adani Power said its ongoing capital expenditure programme to expand generation capacity to 45 GW is progressing as planned. The 1,320 MW Korba Phase-II Supercritical Thermal Power Project (“USCTPP”) is expected to be commissioned during the current year.

The 1,600 MW Mahan Phase-II USCTPP is scheduled for commercial operations in Q1 FY28 and had achieved over 88% overall progress as of June 30, 2026.

The 1,600 MW Raipur Phase II and 1,600 MW Raigarh Phase II USCTPPs have achieved over 62% and 54% progress, respectively, while execution has also commenced for the 1,600 MW Mirzapur Greenfield USCTPP in Uttar Pradesh.

Following the earnings, Adani Power shares were trading at ₹219.74 apiece on the National Stock Exchange, falling 0.29%.