Adani Power Limited is the leading name in India’s power generation sector and the largest private thermal power producer. Backed by the Adani Group, the company focuses on delivering affordable electricity to millions of people.
Adani Power operates a diversified portfolio of coal-based power plants with a strong focus on efficiency, sustainability and scale. The company has an installed thermal power capacity of 18,110 MW spread across 12 power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and other states.
Adani Power plays a critical role in fulfilling the growing energy demand while aligning with national priorities for infrastructure development and energy security.
History of Adani Power Limited
Adani Power Limited was established in 1996, with the objective of strengthening India’s power generation infrastructure. The company hits a major milestone with the development of the Mundra power plant in Gujarat. This project has emerged as one of the largest thermal power projects in the world.
Over time, Adani Power expanded its presence across several Indian states through new projects and strategic acquisitions. By reviving the stressed power assets company improved its operational performance and slowly increased its power generation capacity. Today, Adani Power stands as an important contributor to India’s evolving energy landscape.
Adani Power Business Segments
Below are the business segments of Adani Power Limited.
1. Thermal Power Generation: Adani Power’s main business is electricity generation through large-scale coal-based power plants. The plants are spread across key states in India, which helps in efficient distribution.
2. Power Supply to Utilities and DISCOMs: The company supplies electricity under long-term power purchase agreements with electricity boards and distribution companies. It ensures stable and predictable revenue.
3. Merchant Power Sales: A small portion of power generation capacity is sold on a merchant basis in the open market. It allows companies to benefit from higher spot power prices during high-demand periods.
4. Integrated Fuel Management: Adani Power leverages backward integration by sourcing coal efficiently through domestic linkage and imports. This is possible with the support of Adani Group’s logistics and port infrastructure.
5. Operations and Maintenance: The company focuses on efficient power plant operations, cost control, and high plant availability, which helps to improve margins.
Adani Power Limited R&D
APTRI research and development centre, which focuses on technical and policy-relevant studies of all aspects of energy and power.
The centre aims to contribute towards filling the technology gap across various segments of power and achieving sustainability. Its motive is to improve the design of the individual plant component or evolve a cost-efficient process.
R&D Projects take advantage of Renewable Energy Technologies and take up hybrid projects capable of delivering higher efficiency of operation and integration.
Adani Power Financial Performance (FY25 vs FY24)
Revenue: Adani Power reported a consolidated revenue of ₹58,905.83 crore in FY25 vs ₹60,281.48 crore in FY24. It showed a decrease of -2.28% on a yearly basis, reflecting slightly negative performance.
Operating Profit: The company reported an operating profit of ₹16,359.51 crore in FY25 vs ₹20,791.51 crore in FY24. It showed a decrease of -21.31% on a year-on-year basis, indicating that the company's operating profit is under pressure.
Net Profit: Adani Power reported a net profit of ₹12,749.61 crore in FY25 compared to ₹20,828.79 crore in FY24. It showed a decrease of -38.79% on a yearly basis, indicating a negative performance.
Adani Power Q3 FY26 Results
In Q3 FY26, Adani Power reported a consolidated net profit of ₹2,488.09 crore compared to ₹2,940.07 crore in Q3 FY25, down by -15.37% on a YoY basis. In the last quarter, Adani Power’s net profit was ₹2,906 crore. Therefore, on a quarter-on-quarter (QoQ) basis, net profit declined by -14.38%.
During the quarter, Adani Power posted a revenue of ₹12,717 crore vs ₹13,434 crore in Q3 FY25, down by -5.33% on a YoY basis. In Q2 FY26, the revenue was ₹13,457 crore. Therefore, on a quarter-on-quarter (QoQ) basis, revenue falls by -5.49%.
Adani Power’s EBITDA declined by -15% at ₹4,238 crore compared to ₹5,024 crore in Q3 FY25. The EBITDA margin narrowed to 34%, compared with 36.7% in the same period last year.
Adani Power Financial Highlights
- Revenue: Adani Power reported revenue of ₹57,865.28 crore in FY26 vs ₹58,905.83 crore in FY25. It showed a decrease of 1.77% on a yearly basis.
- Operating Profit: Adani Power reported an operating profit of ₹15,499.51 crore in FY26 vs ₹16,359.51 crore in FY25. It showed a decrease of 5.26% on a year-on-year basis.
- Net Profit: Adani Power reported a net profit of ₹12,971.08 crore in FY26 vs ₹12,749.61 crore in FY25. It showed an increase of 1.74% on a yearly basis.
Adani Power Quarterly Result Highlights
- Adani Power reported revenue of ₹19,322.30 crore in Jun 2026, compared with ₹15,989.09 crore in Mar 2026, representing an increase of 20.85% on a quarter-on-quarter (QoQ) basis.
- Adani Power reported an operating profit of ₹6,418.18 crore in Jun 2026, compared with ₹4,383.98 crore in Mar 2026, representing an increase of 46.40% on a quarter-on-quarter (QoQ) basis.
- Adani Power reported a profit of ₹4,866.60 crore in Jun 2026, compared with ₹4,271.40 crore in Mar 2026, reflecting an increase of 13.93% on a QoQ basis.
- The earnings per share (EPS) of Adani Power stood at ₹6.62 during Jun 2026.
Data Source: BSE, Company announcements
Securities shown are illustrative, not recommendations. Past performance does not guarantee future results.
