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Adani Power

NSEI:ADANIPOWER
Snowflake Description

Mediocre balance sheet and slightly overvalued.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
ADANIPOWER
NSEI
₹157B
Market Cap
  1. Home
  2. IN
  3. Utilities
Company description

Adani Power Limited, together with its subsidiaries, engages in the generation and transmission of electricity under long term power purchase agreements and on merchant basis in India. The last earnings update was 102 days ago. More info.


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  • Adani Power has significant price volatility in the past 3 months.
ADANIPOWER Share Price and Events
7 Day Returns
-1.9%
NSEI:ADANIPOWER
-1.5%
IN Renewable Energy
-0.1%
IN Market
1 Year Returns
92.2%
NSEI:ADANIPOWER
-11.1%
IN Renewable Energy
-3.7%
IN Market
ADANIPOWER Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Adani Power (ADANIPOWER) -1.9% -24.9% 8% 92.2% 42.6% -37.8%
IN Renewable Energy -1.5% -9.3% 6.1% -11.1% -0% -28.5%
IN Market -0.1% -5% 4.7% -3.7% 34.5% 38.6%
1 Year Return vs Industry and Market
  • ADANIPOWER outperformed the Renewable Energy industry which returned -11.1% over the past year.
  • ADANIPOWER outperformed the Market in India which returned -3.7% over the past year.
Price Volatility
ADANIPOWER
Industry
5yr Volatility vs Market

Value

 Is Adani Power undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Adani Power to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Adani Power.

NSEI:ADANIPOWER Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 18.2%
Perpetual Growth Rate 10-Year IN Government Bond Rate 7.6%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for NSEI:ADANIPOWER
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year IN Govt Bond Rate 7.6%
Equity Risk Premium S&P Global 8.6%
Renewable Energy Unlevered Beta Simply Wall St/ S&P Global 0.47
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.472 (1 + (1- 35%) (285.64%))
1.233
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.23
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 7.55% + (1.233 * 8.6%)
18.15%

Discounted Cash Flow Calculation for NSEI:ADANIPOWER using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Adani Power is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

NSEI:ADANIPOWER DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (INR, Millions) Source Present Value
Discounted (@ 18.15%)
2019 69,984.64 Analyst x2 59,231.97
2020 68,062.36 Analyst x3 48,754.41
2021 76,090.83 Analyst x3 46,130.99
2022 74,019.33 Est @ -2.72% 37,980.36
2023 74,285.30 Est @ 0.36% 32,260.44
2024 76,154.71 Est @ 2.52% 27,990.95
2025 79,221.13 Est @ 4.03% 24,644.24
2026 83,248.41 Est @ 5.08% 21,918.15
2027 88,096.40 Est @ 5.82% 19,630.87
2028 93,683.00 Est @ 6.34% 17,668.33
Present value of next 10 years cash flows ₹336,210.70
NSEI:ADANIPOWER DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= ₹93,683.00 × (1 + 7.55%) ÷ (18.15% – 7.55%)
₹950,216.89
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= ₹950,216.89 ÷ (1 + 18.15%)10
₹179,208.06
NSEI:ADANIPOWER Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= ₹336,210.70 + ₹179,208.06
₹515,418.76
Equity Value per Share
(INR)
= Total value / Shares Outstanding
= ₹515,418.76 / 3,856.94
₹133.63
NSEI:ADANIPOWER Discount to Share Price
Calculation Result
Value per share (INR) From above. ₹133.63
Current discount Discount to share price of ₹40.65
= -1 x (₹40.65 - ₹133.63) / ₹133.63
69.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Adani Power is available for.
Intrinsic value
>50%
Share price is ₹40.65 vs Future cash flow value of ₹133.63
Current Discount Checks
For Adani Power to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Adani Power's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Adani Power's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Adani Power's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Adani Power's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
NSEI:ADANIPOWER PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-12-31) in INR ₹-6.28
NSEI:ADANIPOWER Share Price ** NSEI (2019-05-17) in INR ₹40.65
India Renewable Energy Industry PE Ratio Median Figure of 15 Publicly-Listed Renewable Energy Companies 9.08x
India Market PE Ratio Median Figure of 2,758 Publicly-Listed Companies 15.12x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Adani Power.

NSEI:ADANIPOWER PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= NSEI:ADANIPOWER Share Price ÷ EPS (both in INR)

= 40.65 ÷ -6.28

-6.48x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Adani Power is loss making, we can't compare its value to the IN Renewable Energy industry average.
  • Adani Power is loss making, we can't compare the value of its earnings to the India market.
Price based on expected Growth
Does Adani Power's expected growth come at a high price?
Raw Data
NSEI:ADANIPOWER PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -6.48x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
63.2%per year
India Renewable Energy Industry PEG Ratio Median Figure of 6 Publicly-Listed Renewable Energy Companies 0.67x
India Market PEG Ratio Median Figure of 559 Publicly-Listed Companies 1.25x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Adani Power, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Adani Power's assets?
Raw Data
NSEI:ADANIPOWER PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-12-31) in INR ₹14.09
NSEI:ADANIPOWER Share Price * NSEI (2019-05-17) in INR ₹40.65
India Renewable Energy Industry PB Ratio Median Figure of 31 Publicly-Listed Renewable Energy Companies 0.5x
India Market PB Ratio Median Figure of 3,638 Publicly-Listed Companies 1.02x
NSEI:ADANIPOWER PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= NSEI:ADANIPOWER Share Price ÷ Book Value per Share (both in INR)

= 40.65 ÷ 14.09

2.88x

* Primary Listing of Adani Power.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Adani Power is overvalued based on assets compared to the IN Renewable Energy industry average.
X
Value checks
We assess Adani Power's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Renewable Energy industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Renewable Energy industry average (and greater than 0)? (1 check)
  5. Adani Power has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Adani Power expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
63.2%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Adani Power expected to grow at an attractive rate?
  • Unable to compare Adani Power's earnings growth to the low risk savings rate as it is expected to be loss making during the next 1-3 years.
Growth vs Market Checks
  • Unable to compare Adani Power's earnings growth to the India market average as it is expected to be loss making during the next 1-3 years.
  • Adani Power's revenue growth is positive but not above the India market average.
Annual Growth Rates Comparison
Raw Data
NSEI:ADANIPOWER Future Growth Rates Data Sources
Data Point Source Value (per year)
NSEI:ADANIPOWER Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 63.2%
NSEI:ADANIPOWER Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 6.5%
India Renewable Energy Industry Earnings Growth Rate Market Cap Weighted Average 15.3%
India Renewable Energy Industry Revenue Growth Rate Market Cap Weighted Average 8.2%
India Market Earnings Growth Rate Market Cap Weighted Average 16.8%
India Market Revenue Growth Rate Market Cap Weighted Average 10.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
NSEI:ADANIPOWER Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in INR Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
NSEI:ADANIPOWER Future Estimates Data
Date (Data in INR Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-03-31 247,076 69,392 -3,136 3
2020-03-31 241,973 61,244 -8,051 5
2019-03-31 219,535 49,057 -16,500 4
NSEI:ADANIPOWER Past Financials Data
Date (Data in INR Millions) Revenue Cash Flow Net Income *
2018-12-31 214,557 -22,887
2018-09-30 199,199 -24,217
2018-06-30 188,974 -24,917
2018-03-31 206,110 50,997 -21,194
2017-12-31 230,147 -64,124
2017-09-30 236,183 -57,896
2017-06-30 229,880 -63,953
2017-03-31 226,155 47,252 -61,741
2016-12-31 245,213 4,817
2016-09-30 248,991 9,148
2016-06-30 248,736 6,234
2016-03-31 255,322 52,572 5,508

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Adani Power is not considered high growth as it is expected to be loss making for the next 1-3 years.
  • Adani Power's revenue is expected to grow by 6.5% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
NSEI:ADANIPOWER Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (4 months ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Adani Power Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:ADANIPOWER Future Estimates Data
Date (Data in INR Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-03-31 -0.80 -0.80 -0.80 1.00
2020-03-31 -2.10 -1.20 -2.99 2.00
2019-03-31 -4.27 -3.40 -6.00 3.00
NSEI:ADANIPOWER Past Financials Data
Date (Data in INR Millions) EPS *
2018-12-31 -6.28
2018-09-30 -6.31
2018-06-30 -6.47
2018-03-31 -5.49
2017-12-31 -16.76
2017-09-30 -15.65
2017-06-30 -17.79
2017-03-31 -17.82
2016-12-31 1.45
2016-09-30 2.86
2016-06-30 1.99
2016-03-31 1.84

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Adani Power will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Adani Power's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the India market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the India market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Adani Power has a total score of 0/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Adani Power performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Adani Power's growth in the last year to its industry (Renewable Energy).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Adani Power does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Adani Power's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Adani Power's 1-year growth to the IN Renewable Energy industry average as it is not currently profitable.
Earnings and Revenue History
Adani Power's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Adani Power Company Filings, last reported 4 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

NSEI:ADANIPOWER Past Revenue, Cash Flow and Net Income Data
Date (Data in INR Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-12-31 214,557.20 -22,887.00 3,770.90
2018-09-30 199,198.50 -24,216.60 3,783.90
2018-06-30 188,973.60 -24,916.70 3,738.20
2018-03-31 206,110.40 -21,193.60 3,804.80
2017-12-31 230,146.80 -64,124.10 4,235.00
2017-09-30 236,183.40 -57,895.60 4,198.10
2017-06-30 229,879.60 -63,953.20 4,276.00
2017-03-31 226,155.10 -61,741.00 3,792.10
2016-12-31 245,213.30 4,816.60 3,759.80
2016-09-30 248,990.90 9,147.60 3,732.70
2016-06-30 248,735.80 6,234.10 3,680.10
2016-03-31 255,321.70 5,508.00 3,795.10
2015-12-31 218,306.40 -4,520.20 7,340.70
2015-09-30 211,429.40 -9,824.50 7,183.30
2015-06-30 195,090.80 -14,120.80 6,941.30
2015-03-31 188,237.30 -12,977.90 3,303.20
2014-12-31 208,607.60 9,937.90 6,097.60
2014-09-30 195,510.50 8,776.50 5,826.70
2014-06-30 184,521.50 6,044.50 5,669.50
2014-03-31 154,639.00 -1,959.10 5,286.90
2013-12-31 116,558.40 -34,005.40 3,799.40
2013-09-30 93,524.90 -34,944.90 3,597.10
2013-06-30 78,123.40 -26,834.90 3,344.10
2013-03-31 67,793.60 -22,950.10 3,411.70
2012-12-31 59,410.30 -19,945.70 2,191.30
2012-09-30 51,363.60 -17,121.10 2,045.40
2012-06-30 47,365.50 -12,785.30 1,765.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Adani Power has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • Adani Power used its assets less efficiently than the IN Renewable Energy industry average last year based on Return on Assets.
  • It is difficult to establish if Adani Power improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Adani Power's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Renewable Energy industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Adani Power has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Adani Power's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Adani Power's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Adani Power's short term (1 year) commitments are greater than its holdings of cash and other short term assets.
  • Adani Power's long term commitments exceed its cash and other short term assets.
Balance sheet
This treemap shows a more detailed breakdown of Adani Power's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is not covered by short term assets, assets are 0.4x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Adani Power Company Filings, last reported 4 months ago.

NSEI:ADANIPOWER Past Debt and Equity Data
Date (Data in INR Millions) Total Equity Total Debt Cash & Short Term Investments
2018-12-31 54,526.80 447,835.30 52,109.00
2018-09-30 54,526.80 447,835.30 52,109.00
2018-06-30 8,845.40 530,425.70 2,566.20
2018-03-31 8,845.40 530,425.70 2,566.20
2017-12-31 28,375.50 476,094.30 46,482.30
2017-09-30 28,375.50 476,094.30 46,482.30
2017-06-30 29,995.60 524,867.30 6,041.70
2017-03-31 29,995.60 524,843.70 810.10
2016-12-31 79,467.50 495,475.00 45,754.90
2016-09-30 79,467.50 495,475.00 45,754.90
2016-06-30 73,765.30 532,001.50 8,687.60
2016-03-31 74,678.60 529,608.70 8,687.00
2015-12-31 52,056.10 484,773.70 7,646.90
2015-09-30 52,056.10 484,773.70 7,646.90
2015-06-30 57,246.20 448,395.90 12,135.40
2015-03-31 57,246.20 448,395.90 12,135.40
2014-12-31 54,410.00 423,284.50 18,496.60
2014-09-30 54,410.00 423,284.50 18,496.60
2014-06-30 65,433.90 441,502.30 9,359.40
2014-03-31 65,433.90 441,502.30 9,359.40
2013-12-31 45,653.60 406,085.50 14,704.30
2013-09-30 45,653.60 406,085.50 14,704.30
2013-06-30 42,934.10 417,954.40 17,304.50
2013-03-31 42,934.10 417,954.40 17,304.50
2012-12-31 55,209.70 379,971.90 24,974.70
2012-09-30 55,209.70 379,971.90 24,974.70
2012-06-30 66,003.40 386,003.40 32,498.00
  • Adani Power's level of debt (821.3%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (886.1% vs 821.3% today).
CASH RUNWAY ANALYSIS

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

  • Whilst loss making Adani Power has sufficient cash runway for more than 3 years if it maintains the current positive free cash flow level.
  • Whilst loss making Adani Power has sufficient cash runway for more than 3 years, even with free cash flow being positive and shrinking by -11.7% per year.
X
Financial health checks
We assess Adani Power's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Adani Power has a total score of 3/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Adani Power's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Adani Power dividends. Estimated to be 0% next year.
If you bought ₹2,000 of Adani Power shares you are expected to receive ₹0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Adani Power's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Adani Power's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
NSEI:ADANIPOWER Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
India Renewable Energy Industry Average Dividend Yield Market Cap Weighted Average of 8 Stocks 4.1%
India Market Average Dividend Yield Market Cap Weighted Average of 1398 Stocks 1.4%
India Minimum Threshold Dividend Yield 10th Percentile 0.3%
India Bottom 25% Dividend Yield 25th Percentile 0.6%
India Top 25% Dividend Yield 75th Percentile 2.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

NSEI:ADANIPOWER Future Dividends Estimate Data
Date (Data in ₹) Dividend per Share (annual) Avg. No. Analysts
2021-03-31
2020-03-31 0.00 1.00
2019-03-31 0.00 1.00

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Adani Power has not reported any payouts.
  • Unable to verify if Adani Power's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Adani Power's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Adani Power has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Adani Power's dividends in 3 years as they are not expected to pay a notable one for India.
X
Income/ dividend checks
We assess Adani Power's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 0.3%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Adani Power afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Adani Power has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Adani Power's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Vneet Jaain
COMPENSATION ₹0
AGE 47
TENURE AS CEO 3.4 years
CEO Bio

Mr. Vneet S. Jaain, BE - Mechanical, serves as Chief Executive Officer of Power at Adani Enterprises Limited. Mr. Jain has been the Chief Executive Officer of Adani Power Limited since December 12, 2015. He served as the BR Head of Adani Power Limited and served as its Senior Vice President of Techno Commercial & Business Development. Mr. Jain served as the Chief Executive Officer of EPC at Adani Enterprises Limited since December 4, 2006. He served as Vice President of Techno Commercial & Business Development at Adani Power Limited since December 4, 2006. Mr. Jain joined Adani Power Ltd. on December 4, 2006. He has over 14 years of experience in planning and execution of power projects including business development, project planning, monitoring, cost control measures, finalisation of EPC contracts and preparation of techno-economic feasibility report of power projects. Prior to joining Adani Power Ltd., he has worked with Jindal Steel & Power Limited. He has been a Whole-Time Director at Adani Power Limited since January 22, 2016 and as its Director since May 14, 2012. He served as a Director of Adani Transmission Ltd. from December 9, 2013 to January 27, 2015. He served as a Director of Adani Power Maharashtra Limited until December 31, 2014. Mr. Jain holds a Bachelor’s degree in Engineering (Mechanical) from Government College, Haryana.

CEO Compensation
  • Insufficient data for Vneet to compare compensation growth.
  • Vneet's remuneration is lower than average for companies of similar size in India.
Management Team Tenure

Average tenure and age of the Adani Power management team in years:

3.8
Average Tenure
56
Average Age
  • The tenure for the Adani Power management team is about average.
Management Team

Vneet Jaain

TITLE
CEO & Whole-Time Director
AGE
47
TENURE
3.4 yrs

Rajeshbhai Adani

TITLE
MD & Executive Director
AGE
54
TENURE
11.1 yrs

Rajat Singh

TITLE
Chief Financial Officer
COMPENSATION
₹21M
AGE
47
TENURE
1.3 yrs

Gautam Adani

TITLE
Founder & Chairman
AGE
56

V. Bhamidipati

TITLE
Senior Vice President of Operation Services
COMPENSATION
₹1M
AGE
69

Bhagwan Kodwani

TITLE
Chief Information Officer
AGE
51

Deepak Pandya

TITLE
Company Secretary & Compliance Officer
TENURE
3.8 yrs

Om Kalia

TITLE
Senior Vice President of Engineering
COMPENSATION
₹5M
AGE
69
TENURE
11.8 yrs

Subimal Shome

TITLE
Head of Project
AGE
63

Om Bhardwaj

TITLE
Head of Civil Department at APL & VP
COMPENSATION
₹4M
AGE
70
Board of Directors Tenure

Average tenure and age of the Adani Power board of directors in years:

5.4
Average Tenure
57
Average Age
  • The tenure for the Adani Power board of directors is about average.
Board of Directors

Vneet Jaain

TITLE
CEO & Whole-Time Director
AGE
47
TENURE
7 yrs

Rajeshbhai Adani

TITLE
MD & Executive Director
AGE
54
TENURE
11.9 yrs

Gautam Adani

TITLE
Founder & Chairman
AGE
56
TENURE
13.4 yrs

Mukesh Shah

TITLE
Additional & Non-Executive Independent Director
AGE
65
TENURE
1.2 yrs

Raminder Gujral

TITLE
Independent & Non-Executive Director
COMPENSATION
₹300K
AGE
78
TENURE
3.8 yrs

Gauri Trivedi

TITLE
Independent & Non-Executive Director
AGE
58
TENURE
0.6 yrs
Who owns this company?
Recent Insider Trading
  • More shares have been bought than sold by Adani Power insiders in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (₹) Value (₹)
12. Mar 19 Buy Mukesh Shah Individual 11. Mar 19 11. Mar 19 2,150 ₹52.32 ₹112,497
X
Management checks
We assess Adani Power's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Adani Power has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

Introducing Adani Power (NSE:ADANIPOWER), A Stock That Climbed 76% In The Last Year

Adani Power Limited (NSE:ADANIPOWER) shareholders might be concerned after seeing the share price drop 28% in the last month. … Check out our latest analysis for Adani Power Adani Power isn't a profitable company, so it is unlikely we'll see a strong correlation between its share price and its earnings per share (EPS). … But note: Adani Power may not be the best stock to buy.

Simply Wall St -

Adani Power Limited (NSE:ADANIPOWER) And The Utilities Industry Prospect For 2018

which has continued to cope with the rising costs and complexities of maintaining legacy systems, while less traditional challenges are emerging … Recent trends utility companies are facing include rising cybersecurity threats, increasing usage by consumers and growing number of innovative competitors … Utilities analysts are forecasting for the entire industry,

Simply Wall St -

What Do Analysts Think About The Future Of Adani Power Limited's (NSE:ADANIPOWER)?

Since Adani Power Limited (NSE:ADANIPOWER) released its earnings in March 2018,. … with earnings expected to grow by 46.69% in the upcoming year … the past 5-year average growth rate of -18.35%

Simply Wall St -

What Are Analysts Saying About Adani Power Limited's (NSE:ADANIPOWER) Earnings Trajectory?

Adani Power Limited's (NSE:ADANIPOWER) most recent earnings announcement in March 2018 … company earnings became less negative compared to the previous year's level … as a result of recent tailwinds

Simply Wall St -

At ₹019.3, Is Adani Power Limited (NSE:ADANIPOWER) A Buy?

Adani Power Limited (NSE:ADANIPOWER), a renewable energy company based in India,. … Let’s examine Adani Power’s valuation and outlook in more detail to determine if there’s still a bargain opportunity? … Great news for investors – Adani Power is still trading at a fairly cheap price.

Simply Wall St -

Adani Power Limited (NSE:ADANIPOWER): Is It A Smart Long Term Opportunity?

In this article, I've outline a few earnings growth rates to give you a sense of the market sentiment for Adani Power in the longer term. … View our latest analysis for Adani Power What can we expect from Adani Power in the longer term? … To understand the overall trajectory of ADANIPOWER's earnings growth over these next fews years, I've fitted a line through these analyst earnings forecast to determine an annual growth rate from the slope.

Simply Wall St -

Should You Have Adani Power Limited's (NSE:ADANIPOWER) In Your Portfolio?

A popular measure of market risk for a stock is its beta, and the market as a whole represents a beta value of one. … ADANIPOWER, with its market capitalisation of ₹100.67B, is a small-cap stock, which generally have higher beta than similar companies of larger size. … As a result, this aspect of ADANIPOWER indicates a higher beta than a similar size company with a lower portion of fixed assets on their balance sheet.

Simply Wall St -

Should You Follow This Trend For Adani Power Limited (NSE:ADANIPOWER)?

Adani Power's insiders have invested more than 22 million shares in the large-cap stocks within the past three months. … Within the past three months, Adani Power’s share price traded at a high of ₹46.95 and a low of ₹24.05. … Next Steps: Adani Power’s insider meaningful buying activity tells us the shares are currently in favour, coherent with the sizeable growth in expected earnings, as well as the significant share price volatility over the same period of trade.

Simply Wall St -

Why Adani Power Limited (NSE:ADANIPOWER) Could Be A Buy

Let’s take a look at Adani Power’s outlook and value based on the most recent financial data to see if there are any catalysts for a price change. … What’s more interesting is that, Adani Power’s share price is quite volatile, which gives us more chances to buy since the share price could sink lower (or rise higher) in the future. … Its prosperous future outlook isn’t fully reflected in the current share price yet, which means it’s not too late to buy ADANIPOWER.

Simply Wall St -

What You Must Know About Adani Power Limited's (NSE:ADANIPOWER) Financial Strength

Moreover, ADANIPOWER has produced cash from operations of ₹47,252.0M during the same period of time, resulting in an operating cash to total debt ratio of 9.00%, meaning that ADANIPOWER’s debt is not appropriately covered by operating cash. … Looking at ADANIPOWER’s most recent ₹256,615.0M liabilities, it seems that the business has not maintained a sufficient level of current assets to meet its obligations, with the current ratio last standing at 0.53x, which is below the prudent industry ratio of 3x. … Running high debt, while not yet making money, can be risky in unexpected downturns as liquidity may dry up, making it hard to operate.Next Steps: ADANIPOWER’s high debt level indicates room for improvement.

Simply Wall St -

Company Info

Description

Adani Power Limited, together with its subsidiaries, engages in the generation and transmission of electricity under long term power purchase agreements and on merchant basis in India. It generates electricity through thermal and solar energy sources. The company has five power projects with a combined installed and commissioned capacity of 10,480 MW, including 4,620 MW at Mundra, Gujarat; 3,300 MW at Tiroda, Maharashtra; 1,320 MW at Kawai, Rajasthan; 1200 MW at Udupi, Karnataka; and 40 MW at Kutch, Gujarat. It is involved in coal trading activity. The company was founded in 1988 and is headquartered in Ahmedabad, India. Adani Power Limited is a subsidiary of Adani Enterprises Limited.

Details
Name: Adani Power Limited
ADANIPOWER
Exchange: NSEI
Founded: 1988
₹156,784,567,951
3,856,938,941
Website: http://www.adanipower.com
Address: Adani Power Limited
Achalraj,
Opp Mayor Bungalow,
Ahmedabad,
Gujarat, 380006,
India
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
NSEI ADANIPOWER Equity Shares National Stock Exchange of India IN INR 11. Aug 2009
BSE 533096 Equity Shares Mumbai Stock Exchange IN INR 11. Aug 2009
Number of employees
Current staff
Staff numbers
2,438
Adani Power employees.
Industry
Independent Power Producers and Energy Traders
Utilities
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/05/19 13:00
End of day share price update: 2019/05/17 00:00
Last estimates confirmation: 2019/05/06
Last earnings filing: 2019/02/06
Last earnings reported: 2018/12/31
Last annual earnings reported: 2018/03/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.