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Adani Power Limited Q2 FY27 earnings call summary

NSE: ADANIPOWER · BSE: 533096

Earnings call of 26 Oct 2026, summarised by AI from the filing.

Peak debt expected around ₹1 lakh cr by FY30 or FY31, nearly double today's level.

Key takeaways

  1. Peak debt Peak debt expected around ₹1 lakh cr by FY30 or FY31, nearly double today's level.
  2. EBITDA driver Full utilisation of FY26-acquired capacity and new medium-term PPAs replaced intermittent merchant sales.
  3. Fuel cost Landed imported coal cost rose about 50%, with pass-through reflecting after more than 6 months.

Original filing on BSE

Adani Power Limited Q2 FY27 results

As filed: Revenue ₹19,439 cr (+44% year on year), EBITDA ₹8,231 cr (+60% year on year), PAT ₹7,019 cr (+142% year on year), EBITDA margin 42.3% (+407 bps).

The Q2 FY27 score, against the company's own trend, is for premium members.

Earlier results and the share price after them

  • Q1 FY27: Revenue ₹18,902 cr (+34% year on year), EBITDA ₹7,949 cr (+40% year on year), PAT ₹4,867 cr (+47% year on year), EBITDA margin 42.1% (+176 bps). Score 89 of 100, Above trend. Revenue, EBITDA and profit growth were well above the company's own trend. EBITDA margin rose 176 bps year on year. Revenue grew on the previous quarter, against its usual seasonal pattern. Share price after the results: −6.7% in 30 days (Nifty 500: +0.8%).
  • Q4 FY26: Revenue ₹14,223 cr (0% year on year), EBITDA ₹4,732 cr (−2% year on year), PAT ₹4,271 cr (+64% year on year), EBITDA margin 33.3% (−53 bps). Score 40 of 100, In line with trend. Revenue and EBITDA growth were below the company's own trend; profit growth was well above it. EBITDA margin fell 53 bps year on year. Other income 40% of PBT. Tax rate 3%. Share price after the results: +9.0% in 30 days (Nifty 500: −0.5%).
  • Q3 FY26: Revenue ₹12,451 cr (−9% year on year), EBITDA ₹4,238 cr (−16% year on year), PAT ₹2,488 cr (−15% year on year), EBITDA margin 34.0% (−271 bps). Score 31 of 100, Below trend. Revenue growth was well below the company's own trend; EBITDA growth was below it; profit growth was in line with it. EBITDA margin fell 271 bps year on year. Revenue fell 7% from last quarter. Share price after the results: +6.0% in 29 days (Nifty 500: +0.4%).
  • Q2 FY26: Revenue ₹13,457 cr (+1% year on year), EBITDA ₹5,150 cr (−2% year on year), PAT ₹2,906 cr (−12% year on year), EBITDA margin 38.3% (−128 bps). Score 35 of 100, Below trend. Revenue and EBITDA growth were below the company's own trend; profit growth was in line with it. EBITDA margin fell 128 bps year on year. Revenue fell 5% from last quarter. Share price after the results: −9.0% in 29 days (Nifty 500: −0.1%).
  • Q1 FY26: Revenue ₹14,109 cr (−6% year on year), EBITDA ₹5,685 cr (−8% year on year), PAT ₹3,305 cr (−16% year on year), EBITDA margin 40.3% (−113 bps). Score 25 of 100, Below trend. Revenue growth was well below the company's own trend; EBITDA growth was below it; profit growth was in line with it. EBITDA margin fell 113 bps year on year. Consolidated profit -16% but standalone +27%. Share price after the results: +2.1% in 28 days (Nifty 500: −2.0%).
  • Q4 FY25: Revenue ₹14,237 cr (+7% year on year), EBITDA ₹4,813 cr (−1% year on year), PAT ₹2,599 cr (−5% year on year), EBITDA margin 33.8% (−249 bps). Score 26 of 100, Below trend. Revenue and EBITDA growth were below the company's own trend; profit growth was in line with it. EBITDA margin fell 249 bps year on year. Consolidated profit -5% but standalone +29%. Profit fell 12% from last quarter. Share price after the results: −0.9% in 30 days (Nifty 500: +3.1%).
  • Q3 FY25: Revenue ₹13,671 cr (+5% year on year), EBITDA ₹5,024 cr (+8% year on year), PAT ₹2,940 cr (+7% year on year), EBITDA margin 36.8% (+99 bps). Score 22 of 100, Below trend. Revenue and EBITDA growth were well below the company's own trend; profit growth was in line with it. EBITDA margin rose 99 bps year on year. Other income 29% of PBT. Profit fell 11% from last quarter.

Past price moves after results do not indicate future moves. Not a recommendation.

Adani Power Limited earnings call, investor presentation and press release summaries

Figures from the company's filings with NSE and BSE. Not investment advice.