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Shareholding Info
  • Promoters
    74.97 %
  • Foreign institutions-FII
    11.95 %
  • Retail and other
    13.04 %
  • Mutual Funds
    0.04 %

Adani Power Ltd overview

Adani Power Ltd, a subsidiary of Adani Group, was established in 1996 as a private thermal power producer. Adani Power Ltd has a total capacity of 12,450 MW, composed of thermal power plants in Gujarat, Maharashtra, Karnataka, Rajasthan and Chhattisgarh. It also produces 40 MW of solar power in Gujarat. As part of the Adani Group, Adani Power Ltd Limited (APL) contributes over 6% of the total private sector installed generation capacity in the country, i.e., 2,03,825 MW.
Adani Power Ltd Ltd generally deals with electricity. It also incorporates exploring, developing, generating, accumulating, supplying, and distributing other forms of energy from all sources.

Adani Power Ltd journey

Here are a few key milestones since the inception of the company:
  • 1996: Adani Power Ltd receives the certificate of commencement of business.
  • 2002: The company becomes a private limited company in June and receives a fresh certificate of incorporation.
  • 2004: The entire shareholding goes to Mundra Port and Special Economic Zone Limited (MPSEZL).
  • 2006: Transfer of shareholding to Adani Enterprises.
  • 2007: Executes two 1,000 MW agreements with Gujarat Urja Vikas Nigam Ltd. In April, the company converts into a public limited company. In November, it allocates the Lohara extension and West coal blocks to Tiroda Power Project.
  • 2008: The company signs several agreements with Maharashtra Industrial Corporation and Ventura Power.
  • 2011: Adani Power Ltd wins the 'National Energy Conservation Award 2011'.
  • 2012: The company becomes the world's first power plant to receive carbon credits.
  • 2014: Adani Power Ltd becomes India's largest private power producer.

Adani Power Ltd Initial Public Offer (IPO)

The Adani Power Ltd initial public offering opened for booking on July 28, 2009, and closed on July 31, 2009. The Adani Power Ltd shares were listed on the National Stock Exchange (NSE) and the Bombay Stock Exchange (BSE) on August 20, 2009. Adani Power Ltd's share price was ₹90-100 per share at the time of its listing. Its share lot size was 65 shares per lot. The company's total issue size was 30,16,52,031 at a face value of ₹10 a piece.

Adani Power Ltd products

Some of Adani Power Ltd Limited's products and subsidiaries are as follows - Thermal Power Plant in Mundra, Gujarat Adani Power Ltd synchronized the first 660 MW generating unit based on supercritical technology at Mundra. Following UNFCCC rules, this is the first thermal project based on supercritical technology to be registered under the CDM. APL’s Mundra plant has a long-term power purchase agreement (PPA) with Gujarat and Haryana.
Thermal Power Plant in Kawai, Rajasthan The Adani Power Ltd Rajasthan Limited (APRL) plant is the largest thermal power plant in Rajasthan. It has a capacity of 1320 MW (2 x 660 MW).
Solar Power Plant in Bitta, Gujarat This solar power plant has a power generation capacity of 40 MW. It was started in December 2011. It was Adani's first venture into renewable energy.
Thermal Power Plant in Tiroda, Maharashtra The total capacity of the Tiroda-based plant is 3300 MW, with 5 units of 660 MW each. The first unit of the plant was commissioned in August 2012. Finally, on October 11, 2014, Unit 5 was commissioned, bringing the plant to full capacity.
Thermal Power Plant in Udupi, Karnataka Udupi Power Corporation Limited is a coal-based power plant with a capacity of 2 x 600 MW. UPCL is the country's first independent power project (IPP) that uses 100% imported coal as fuel. In FY2014-15, the Ministry was awarded the Golden Peacock Environment Management Award.

Adani Power Ltd stock price return in last 5 years - 941.03%(approx).

Adani Power Ltd business highlights

The company’s key annual performances are:

(In crore) 












Net Profit












Adani Power Ltd performance highlights

3-year CAGR (revenue)


EBITDA (FY2021-22)

₹533 crore

Profit (FY2021-22)

₹4,912 crore

Share price return in last 3 years


ROCE (FY2021-22)


ROE (FY2021-22)


Adani Power Ltd's management

  • Adani Power Ltd Chairman: Gautam Adani
  • Adani Power Ltd Director: Rajesh Adani
  • Adani Power Ltd Managing Director: Anil Sardana
  • Adani Power Ltd Independent and Non-Executive Director: Raminder Singh Gujral

Indian coal power industry overview

The following are the key players in the Indian coal power industry -

Key Players

Market Capitalization



₹1,64,649 crore


Tata Power

₹71,623 crore


JSW Energy Ltd

₹50,573 crore



₹43,997 crore


Reliance Power Ltd:

₹5,440 crore

Size of the Indian coal power industry

  • A peak of 210.79 GW of power was consumed in the country on June 9, 2022.
  • As of June 2022, the actual PLF of thermal power plants in India was 68.24%, up from 67.92% in May 2022.

Coal power industry growth prospects

  • During FY2022-23, India's power demand is forecasted to grow more than 6%, which is higher than pre-pandemic levels and above the long-term average of 5%.
  • This trend of above-average growth may continue for two more fiscal years.

Adani Power Ltd growth prospects

  • The company has set an expansion target of 16,850 MW by 2028
  • The company has five upcoming power plants in Godda, Jharkhand; Chhindwara, Madhya Pradesh; Dahej, Gujarat; Udupi, Karnataka and Kawai, Rajasthan.
  • Adani Power Ltd may acquire Ind-Barath Thermal Power in a bankruptcy auction.
  • On September 2021, it announced plans to invest up to ₹2,000 crore in the next ten years.

Risks and concerns

  • Adani Power Ltd deals majorly in power generation using coal. With India's target of Net Zero Emissions by 2070 and increasing climate change, energy based on coal may become less popular.
  • As a result of a variety of factors, including commercial competitiveness with solar power, coal-based thermal power plants' utilization (PLF) gradually decreased from 64% in FY2014-15 to 55% in FY2020-21.
  • Adani Power Ltd has a gross debt estimate of ₹48,900 crore.
  • According to India's power secretary, 20% of the country's coal capacity is classified as stressed (assets whose interest payments exceed profits), and one-fourth of these assets have become “completely unviable.” These stressed assets are valued at ₹2.5 trillion, or about USD 35 billion, according to Credit Suisse.


Name of Registrar

Karvy Computershare Private Limited

Address of Registrar

Karvy House, 46, Avenue 4 Street No. 1, Banjara Hills, Hyderabad, 500034

Contact Person

Murali Krishna

Contact Number

1-800-345-4001 Tel: (9140) 2342-0815-28

Fax Number


Email Address 

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