Adani Power Limited — Q4FY26 Earnings Call Summary

ADANIPOWER · Q4FY26 · Filed 06 May 2026

Key Takeaways

• FY27 capex INR25,000 Cr; FY28 capex INR33,000 Cr; capacity additions 1.32 GW (FY27) and 1.6 GW (FY28)
• EBITDA expected to reach INR50,000 Cr by FY31 conservatively; capacity target of 42 GW by FY32 on track
• FY26 power generation reached 105 billion units; power demand growth was 0.8% for FY26 and 1.6% for Q4 FY26
• Thermal capacity expansion of 23.7 GW by 2032 progressing; Korba Phase-II commissioning expected Q2 FY27
• Merchant capacity reduced to 5% from 16% at start of FY26; PPA provides revenue stability
• Q4 FY26 EBITDA rose 27% y-y to INR6,498 Cr; FY26 EBITDA INR23,431 Cr; PAT INR12,971 Cr
• Nuclear power projects under preparation; new sites identified, awaiting govt rules
• Net debt INR45,022 Cr at FY26 end; raised INR7,500 Cr via secured NCDs; conservative capital management
• 95% of 18.15 GW operating capacity tied under long/medium-term PPAs; 13.3 GW expansion capacity tied
• Multiple states have active PPA tenders totaling ~13 GW; Gujarat issued new 4 GW bidding

📄 Source: View original transcript (PDF)

Summary generated by AI from the official transcript filed on BSE/NSE. Not investment advice.