NYSE:AZRE

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Executive Summary

Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of solar power plants in India.


Snowflake Analysis

Imperfect balance sheet with limited growth.


Similar Companies

Share Price & News

How has Azure Power Global's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: AZRE has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

-4.8%

AZRE

3.4%

US Renewable Energy

3.8%

US Market


1 Year Return

17.8%

AZRE

-0.8%

US Renewable Energy

9.7%

US Market

Return vs Industry: AZRE exceeded the US Renewable Energy industry which returned -0.8% over the past year.

Return vs Market: AZRE exceeded the US Market which returned 9.7% over the past year.


Shareholder returns

AZREIndustryMarket
7 Day-4.8%3.4%3.8%
30 Day-2.8%13.7%11.4%
90 Day-16.1%-6.6%6.8%
1 Year17.8%17.8%2.3%-0.8%12.1%9.7%
3 Year-10.6%-10.6%38.6%24.8%36.2%27.2%
5 Yearn/a12.2%-13.5%63.7%45.4%

Price Volatility Vs. Market

How volatile is Azure Power Global's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Azure Power Global undervalued compared to its fair value and its price relative to the market?

1.57x

Price to Book (PB) ratio


Share Price vs. Fair Value

Below Fair Value: Insufficient data to calculate AZRE's fair value to establish if it is undervalued.

Significantly Below Fair Value: Insufficient data to calculate AZRE's fair value to establish if it is undervalued.


Price To Earnings Ratio

PE vs Industry: AZRE is unprofitable, so we can't compare its PE Ratio to the Renewable Energy industry average.

PE vs Market: AZRE is unprofitable, so we can't compare its PE Ratio to the US market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate AZRE's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: AZRE is good value based on its PB Ratio (1.6x) compared to the US Renewable Energy industry average (1.8x).


Next Steps

Future Growth

How is Azure Power Global forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

33.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AZRE is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: AZRE is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: AZRE is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: AZRE's revenue (31.2% per year) is forecast to grow faster than the US market (8.7% per year).

High Growth Revenue: AZRE's revenue (31.2% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AZRE's Return on Equity is forecast to be low in 3 years time (2.1%).


Next Steps

Past Performance

How has Azure Power Global performed over the past 5 years?

32.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: AZRE is currently unprofitable.

Growing Profit Margin: AZRE is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: AZRE is unprofitable, but has reduced losses over the past 5 years at a rate of 32.5% per year.

Accelerating Growth: Unable to compare AZRE's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: AZRE is unprofitable, making it difficult to compare its past year earnings growth to the Renewable Energy industry (20.6%).


Return on Equity

High ROE: AZRE has a negative Return on Equity (-5.89%), as it is currently unprofitable.


Next Steps

Financial Health

How is Azure Power Global's financial position?


Financial Position Analysis

Short Term Liabilities: AZRE's short term assets (₹19.1B) exceed its short term liabilities (₹8.6B).

Long Term Liabilities: AZRE's short term assets (₹19.1B) do not cover its long term liabilities (₹90.1B).


Debt to Equity History and Analysis

Debt Level: AZRE's debt to equity ratio (295.8%) is considered high.

Reducing Debt: AZRE's debt to equity ratio has reduced from 5586.1% to 295.8% over the past 5 years.


Balance Sheet


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.

Stable Cash Runway: Insufficient data to determine if AZRE has enough cash runway based on its current free cash flow.

Forecast Cash Runway: Insufficient data to determine if AZRE has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.


Next Steps

Dividend

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


Dividend Yield vs Market

Notable Dividend: Unable to evaluate AZRE's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate AZRE's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if AZRE's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if AZRE's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of AZRE's dividend in 3 years as they are not forecast to pay a notable one for the US market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

1.3yrs

Average management tenure


CEO

Ranjit Gupta

0.92

Tenure

Mr. Ranjit Gupta has been Chief Executive Officer and Member of the Board at Azure Power Global Limited since July 18, 2019. He was the Chief Executive Officer at Ostro Energy Pvt Ltd. He holds a Bachelor ...


Leadership Team

NamePositionTenureCompensationOwnership
Pawan Agrawal
Chief Financial Officer1.25yrsno datano data
Surendra Gupta
Executive Vice President of Corporate Financeno datano data0.096% 642.1k
Samitla Subba
Head of Policy & Communicationsno datano data0.0012% 8.1k
Preet Sandhu
Head of Infrano datano data0.24% 1.6m
Shankar Kumar
Head of Operations & Maintenance and IT1.42yrsno data0.0021% 14.2k
Ranjit Gupta
CEO & Board Member0.92yrno datano data
Murali Subramanian
COO & President0.92yrno datano data
Nathan Judge
Head of Investor Relationsno datano datano data
Mili Saxena
Head of Human Resource1.42yrsno datano data

1.3yrs

Average Tenure

48.5yo

Average Age

Experienced Management: AZRE's management team is not considered experienced ( 1.3 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Ranjit Gupta
CEO & Board Member0.92yrno datano data
Barney Rush
Independent Director4.42yrsno datano data
Sanjeev Aggarwal
Independent Director4.75yrsno datano data
Arno Harris
Independent Director4.08yrsno data0.28% 1.9m
Rajendra Singh
Independent Director2.67yrsno datano data
Muhammad Peyrye
Director0.50yrno datano data
Cyril Sebastien Cabanes
Independent Director3.5yrsno datano data
Deepak Malhotra
Director0.58yrno datano data
Yung Oy Lun Leung
Director0.50yrno datano data

2.7yrs

Average Tenure

54.5yo

Average Age

Experienced Board: AZRE's board of directors are not considered experienced ( 2.7 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 16.4%.


Top Shareholders

Company Information

Azure Power Global Limited's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Azure Power Global Limited
  • Ticker: AZRE
  • Exchange: NYSE
  • Founded: 2008
  • Industry: Renewable Electricity
  • Sector: Utilities
  • Market Cap: US$668.811m
  • Shares outstanding: 47.64m
  • Website: https://www.azurepower.com

Number of Employees


Location

  • Azure Power Global Limited
  • WorldMark 3
  • 3rd Floor
  • New Delhi
  • Delhi
  • 110037
  • India

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
AZRENYSE (New York Stock Exchange)YesEquity SharesUSUSDOct 2016
256DB (Deutsche Boerse AG)YesEquity SharesDEEUROct 2016

Biography

Azure Power Global Limited, together with its subsidiaries, engages in the development, construction, ownership, operation, maintenance, and management of solar power plants in India. It generates solar energy based on long-term contracts with Indian government energy distribution companies, as well as other non-governmental energy distribution companies and commercial customers. As of March 31, 2019, the company operated 41 utility scale projects and various commercial rooftop projects with a combined rated capacity of 1,441 MW. Azure Power Global Limited was founded in 2008 and is based in New Delhi, India. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/06/06 07:17
End of Day Share Price2020/06/05 00:00
Earnings2019/12/31
Annual Earnings2019/03/31


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.