# Adani Power share price today (Adani Power Ltd, NSE: ADANIPOWER)

> Adani Power share price today: ₹201.71 at the NSE close on 4 November 2026, up 33.2% in a year. Adani Power (NSE: ADANIPOWER) is worth ₹3,88,992 crore, trades at a P/E of 21.3 and has closed between ₹132.85 and ₹243.37 over the past 52 weeks. > Adani Power Ltd's share price has risen faster than its earnings: +33.2% in a year, against −0.7% for earnings per share. ADANIPOWER · Power - Generation/Distribution · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/adani-power-ltd

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## Key numbers

- Business trend: Getting better, from the last 12 quarters
- Price: ₹201.71 (+33.2% in a year)
- P/E: 21.3× (higher than 66% of the last 11 years)
- Revenue (Sep 2026): ₹19,439 Cr (+44.5% on a year ago)
- Profit (Sep 2026): ₹7,019 Cr (+141.5% on a year ago)
- Operating margin: 42.0% (+4.0 points on a year ago)
- ROCE: 17%, FY26
- ROIC: 10.3%, against a 12.0% cost of capital: −1.7 points

The main question: the share price moved +33.2% in a year while yearly earnings per share moved −0.7%. The difference came from the market paying a higher multiple. ## What is the Adani Power share price today? Adani Power Ltd's share price was ₹201.71 at the close on 4 November 2026. It has been rising for 71 weeks. That is 5.7% above its average price over the last 200 trading days. In the last 52 weeks it traded between ₹133 and ₹243, and at that close it sat 62% of the way up from that low. Over the past 13 weeks it has done better than the NIFTY 500, and it has stayed ahead for 1 week in a row. Over the last 11 years the share price moved +3,279% while the NIFTY 500 moved +251%, so it is ahead of the index over that whole period. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Adani Power this quarter? Three changes stood out: indian funds and insurers (DIIs) raised their stake for 14 quarters in a row, highest quarterly profit in 13 quarters and highest quarterly revenue in 16 quarters. 1. Indian funds and insurers (DIIs) raised their stake for 14 quarters in a row From 0% to 4.5% of the company by the September 2026 quarter. 2. Highest quarterly profit in 13 quarters Profit of ₹7,019 crore in the September 2026 quarter is the highest of the last 13 quarters. Why: Profit got a lift from past Gujarat power payments booked in this quarter. Next results: check how the Haryana compensation settlement is treated in the accounts and whether interest is provided for. From the earnings call on 26 Oct 2026. 3. Highest quarterly revenue in 16 quarters Revenue of ₹19,439 crore in the September 2026 quarter is the highest of the last 16 quarters. Why: Revenue rose because the company sold more power on long-term contracts and got a higher price per unit, helped by more buying from state electricity distributors. Next results: check whether Korba and Mahan start commercial power sales on time. From the earnings call on 26 Oct 2026. ## What are Adani Power's latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Adani Power reported revenue of ₹19,439 crore, up 44.5% from ₹13,457 crore a year earlier, and a profit of ₹7,019 crore, up 141.5% from ₹2,906 crore. ### Adani Power results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹19,439 crore | ₹13,457 crore | +44.5% |
| Profit | ₹7,019 crore | ₹2,906 crore | +141.5% |
| Earnings per share | ₹3.59 | ₹1.53 | +134.6% |
| Operating margin | 42.0% | 38.0% | +4.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Adani Power's management discussed these results on a call held on 26 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Adani Power share price history? Adani Power closed at ₹201.71 on 4 November 2026, up 33.2% from ₹151.48 a year earlier (7 November 2025) and up 856.9% over five years. Its highest weekly close since March 2016 was ₹243.37 on 29 May 2026. ### Adani Power share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹189.00 | +6.7% |
| 1 month ago · 1 Oct 2026 | ₹196.21 | +2.8% |
| 6 months ago · 8 May 2026 | ₹225.33 | −10.5% |
| 1 year ago · 7 Nov 2025 | ₹151.48 | +33.2% |
| 3 years ago · 3 Nov 2023 | ₹76.93 | +162.2% |
| 5 years ago · 4 Nov 2021 | ₹21.08 | +856.9% |
| 10 years ago · 4 Nov 2016 | ₹5.07 | +3,878.5% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹5.97 | +3,278.7% |
| Highest weekly close since March 2016, also the 52-week high · 29 May 2026 | ₹243.37 | −17.1% |
| Lowest weekly close since March 2016 · 29 Jun 2018 | ₹3.23 | +6,144.9% |
| 52-week low (weekly close) · 1 Feb 2026 | ₹132.85 | +51.8% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (563 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on Adani Power? 4 Nov 2026: Adani Power closed at ₹201.71, up 6.7% on the week and up 2.8% on the month. 26 Oct 2026: Adani Power held its results call for July to September 2026. Management guided: Portfolio goal 45 GW by 2032, including 3 GW from inorganic acquisitions; Bhutan hydro objective is 5 GW. ### Earlier

- Results for July to September 2026: Revenue up 44.5% and profit up 141.5% on a year earlier. - 22 Sep 2025: Share split: face value cut from ₹10 to ₹2 a share (ex-date). ## What dividend does Adani Power pay? Adani Power has paid no dividend on the NSE since 1 April 2021, the start of the period we checked. No. Adani Power Ltd paid out 0% of its profit as dividends in each of its last 13 reported years, so there is no payout history to show. That comes from the filed annual statements, not an estimate. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Adani Power management say on the latest results call? On the call for July to September 2026, held on 26 October 2026, Adani Power's management guided: Portfolio goal 45 GW by 2032, including 3 GW from inorganic acquisitions; Bhutan hydro objective is 5 GW. > “Ultimately, reliable 24/7 power without missing a second can be supplied only by thermal power projects.”
> S. B. Khyalia, on the call for July to September 2026

### What management guided

- Korba II first unit expected to operate in Q3 and second around December; Uttarakhand PPA begins after four years, with interim medium-term or merchant sales. - Mahan Phase II and Raipur Phase III each involve 1,600 MW; Mahan operations goal early FY28, while Raipur expands its site to 4,570 MW for Maharashtra's second long-term PPA. - Normal thermal PLF expectation around 65%. - Peak debt around ₹1 lakh crore by 2030-31. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/5744/Conference Call/CC-Oct26.pdf). (From the call for July to September 2026, 26 October 2026.)

## What to watch in Adani Power's next results? When Adani Power reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Korba and Mahan commissioning against their stated timelines - verify commercial starts. - What to check (from the call)
- Korba and Mahan commissioning against their stated timelines - verify commercial starts. - State tender steps across Uttar Pradesh, West Bengal, Rajasthan and Gujarat - check movement toward long-term awards. - Haryana compensation settlement - check accounting treatment and any interest provision. - Nuclear rules notification - check whether expansion work advances beyond the completed comment stage. ## Which stock lists is Adani Power on? Adani Power is on one of our India lists: Power & green energy stocks. [Power & green energy stocks Group on the list: Power producers and distributors](https://www.sectoralpha.in/sectors/power-stocks-india)

## Is Adani Power profitable? Adani Power Ltd earned ₹7,019 Cr of net profit in the Sep 2026 quarter, +141.5% on the same quarter a year earlier. That is the 3rd quarter in a row of profit growth. Full-year FY26 profit was ₹12,971 Cr. Over 10 years profit has grown 37.1% a year on average. That is 36.1% of the quarter's revenue. The same quarter a year earlier earned ₹2,906 Cr. For the full year, FY26 profit was ₹12,971 Cr (+1.7% on the year before). Why profit moved: revenue changed +44.5% on a year earlier and the margin moved +4.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +59.4% and revenue +17.4%. Profit is growing faster than sales: fixed costs are spread over more sales, so each extra rupee of revenue adds more to profit. ## How much revenue does Adani Power make, and is it growing? Adani Power Ltd reported ₹19,439 Cr of revenue in the Sep 2026 quarter, +44.5% on the same quarter a year earlier. That is the 2nd quarter in a row with growth on the year before. Over 10 years it has grown 7.9% a year on average. The last full year, FY26, came in at ₹54,241 Cr. The last four reported quarters add to ₹65,015 Cr. FY26 revenue was ₹54,241 Cr, −3.5% on the year before. Recent pace: the last four quarters grew +17.4% on average, against 7.9% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +17.2%, against +9.1% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +58.7%, against +21.2% a year (accelerating). ## How much of every ₹100 of sales does Adani Power keep? Adani Power Ltd's operating margin was 42.0% in the Sep 2026 quarter, 4.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between 21.0% and 38.0%. The latest quarter is above every full year in that period. Why the margin moved: operating margin changed +4.1 percentage points on the year while gross margin changed +1.0 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Adani Power's profit turning into cash? Over the last 3 years, 121% of Adani Power Ltd's reported profit came in as cash from its operations, so the profit is backed by cash. In FY26 it brought in ₹20,514 Cr of operating cash against ₹12,971 Cr of profit. After ₹27,618 Cr of spending on assets, free cash was −₹7,104 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why 121% of profit came in as cash: the cash cycle got 80 days shorter between FY21 and FY26, so cash that used to wait in the business now arrives sooner. What to look at next: the bigger use of cash is spending on new assets, at 4.1× depreciation over three years. The next section checks what that spending is building. ## Where does Adani Power's cash go? Adani Power Ltd's cash cycle, the days between paying suppliers and getting paid by customers, was 79 days in FY26, down from 159 days in FY21. It spent ₹52,928 Cr on assets over the last 3 years. At FY26 sales of ₹54,241 Cr, each day of that cycle ties up about ₹149 Cr, so roughly ₹11,740 Cr is tied up in the business at any time. Spending on assets: ₹52,928 Cr over the last 3 years, against ₹12,805 Cr of depreciation (the yearly wear and tear on existing assets). So it is building well beyond replacing what wears out. Work still in progress is ₹35,053 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Adani Power's P/E ratio, and how does it compare with its own history? Adani Power Ltd's P/E is 21.3×, in the middle of its own history: higher than 66% of past readings. Its usual P/E (the middle reading) is 17.2×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. Why the multiple is where it is: over the past year earnings per share moved −0.7% while the price moved +33.2%. The price did better than earnings, which pushed the multiple up within its own range. Where the price move came from: over 5 years the price moved +57.1% a year; about +52.1% a year came from earnings growth and about +5.0 percentage points from the multiple (the market paying more); over 10 years the price moved +44.5% a year; about +39.9% a year came from earnings growth and about +4.6 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is high against its own past, so the earnings trend underneath matters more than the multiple. ## Is the Adani Power business getting better or worse? Adani Power Ltd's business is getting better. Profit growth hit its low 6 quarters ago at −38.8% and has recovered to +58.7%, with ROCE rising at 19.3%. This is based on 12 quarters of 4 measures. Why it matters: a lasting rise from a low is what this page is built to show. ## How much does Adani Power earn on its capital? Adani Power Ltd earned a ROCE of 17% in FY26. That is up from a low of 6% in FY14. Its return on capital used (ROIC) is 1.7 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 23.9% net margin and 0.38× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 23.9% net margin × 0.38× asset turnover × 2.18× leverage (assets divided by equity) ≈ 19.8% on equity. The margin does most of the work; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 10.3% − 12.0% = −1.7 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. ## Does Adani Power have too much debt? Adani Power Ltd has total debt of ₹63,061 Cr against shareholder equity of ₹78,377 Cr as of Sep 2026, so its debt is 0.80× its equity. Year by year, that ratio went from 2.61 in FY22 to 0.82 in FY26. Keep that borrowing in mind when reading the returns on this page. ## What is the Adani Power shareholding pattern? Domestic institutions raised their stake in Adani Power Ltd by 2.9 percentage points over 8 quarters, the biggest change among its owners. Domestic institutions now own 4.5% of the company. Foreign institutions moved −1.6 points over the same period, to 11.0%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Domestic institutions: +2.9 points over 8 quarters, to 4.5%; Foreign institutions: −1.6 points over 8 quarters, to 11.0%; Promoters: +0.0 points over 8 quarters, to 75.0%. Why the owners changed: foreign institutions moved −1.6 points and domestic institutions +2.9 points over 8 quarters, while promoters stayed about the same. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Adani Power from balance-sheet trouble? For Adani Power Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Adani Power rank in its industry? 65.3 out of 100, rank 2 of 21 in Power - Generation/Distribution, with 100% of the evidence available. Adani Power Ltd scores 65.3 out of 100 against the 21 companies it is compared with in Power - Generation/Distribution, ranking 2. Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. The four parts add up to the total exactly: 26.1 + 17.9 + 7.9 + 13.4 = 65.3. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Adani Power compared with? Adani Power ranks 2 of 21 Power - Generation/Distribution companies on the 4-Factor Sector Score, with 65.3 out of 100. 1. [ACME Solar Holdings Ltd](https://www.sectoralpha.in/stocks/acme-solar-holdings-ltd) ACMESOLAR · leader · Most evidence points up · 83% evidence 65.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.5/35 · Revenue 53.7% · Profit 57.5% · Operating margin change -1 points · 100% evidence Capital efficiency 15.6/25 · ROCE 8.9% · Operating margin 85% · 100% evidence Valuation 9.3/20 · P/E 38.1× · PEG n/a · 15% evidence Relative strength 20.0/20 · Lead over its industry 48.7% · Lead over NIFTY 500 37.1% · 1 year 43.6% · 100% evidence · 12 of 12 weeks ahead Exact sum: 20.5 + 15.6 + 9.3 + 20 = 65.4 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 2. Adani Power Ltd this page ADANIPOWER · quiet · Most evidence points up · 100% evidence 65.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.1/35 · Revenue 17.2% · Profit 58.7% · Operating margin change 4 points · 100% evidence Capital efficiency 17.9/25 · ROCE 17.2% · Operating margin 42% · 100% evidence Valuation 7.9/20 · P/E 20× · PEG 1.83 · 100% evidence Relative strength 13.4/20 · Lead over its industry 17.8% · Lead over NIFTY 500 8% · 1 year 19.7% · 100% evidence · 0 of 12 weeks ahead Exact sum: 26.1 + 17.9 + 7.9 + 13.4 = 65.3 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 3. [Gujarat Industries Power Co Ltd](https://www.sectoralpha.in/stocks/gujarat-industries-power-co-ltd) GIPCL · breaking out · Evidence leans up · 81% evidence 59.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.6/35 · Revenue 23.7% · Profit 100% · Operating margin change 18 points · 88% evidence Capital efficiency 8.1/25 · ROCE 5.5% · Operating margin 48% · 100% evidence Valuation 11.2/20 · P/E 4.9× · PEG 2.55 · 100% evidence Relative strength 12.0/20 · Lead over its industry n/a · Lead over NIFTY 500 6% · 1 year -12.5% · 25% evidence · 12 of 12 weeks ahead Exact sum: 28.6 + 8.1 + 11.2 + 12 = 59.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [JSW Energy Ltd](https://www.sectoralpha.in/stocks/jsw-energy-ltd) JSWENERGY · quiet · Evidence leans up · 82% evidence 58.8 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 23.1/35 · Revenue 26.4% · Profit 24.4% · Operating margin change -1 points · 95% evidence Capital efficiency 13.6/25 · ROCE 8.2% · Operating margin 57% · 76% evidence Valuation 7.8/20 · P/E 38.9× · PEG n/a · 50% evidence Relative strength 14.3/20 · Lead over its industry 10.5% · Lead over NIFTY 500 1.6% · 1 year -5.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 23.1 + 13.6 + 7.8 + 14.3 = 58.8 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 5. [Adani Green Energy Ltd](https://www.sectoralpha.in/stocks/adani-green-energy-ltd) ADANIGREEN · turning · Evidence leans up · 75% evidence 55.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.4/35 · Revenue 21.2% · Profit -3.3% · Operating margin change 2 points · 95% evidence Capital efficiency 14.1/25 · ROCE 7.4% · Operating margin 89% · 76% evidence Valuation 8.7/20 · P/E 109× · PEG n/a · 15% evidence Relative strength 15.9/20 · Lead over its industry 25.5% · Lead over NIFTY 500 15.2% · 1 year 13.9% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.4 + 14.1 + 8.7 + 15.9 = 55.1 · What this means: Relative strength against the index is 15.2%, and revenue and profit growth are weak. 6. [NTPC Ltd](https://www.sectoralpha.in/stocks/ntpc-ltd) NTPC · quiet · Evidence leans up · 82% evidence 55.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 16.7/35 · Revenue 7.4% · Profit 24.8% · Operating margin change 0 points · 95% evidence Capital efficiency 14.1/25 · ROCE 8.9% · Operating margin 29% · 76% evidence Valuation 11.8/20 · P/E 10.3× · PEG n/a · 50% evidence Relative strength 12.4/20 · Lead over its industry 2.7% · Lead over NIFTY 500 -5.5% · 1 year -6.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 16.7 + 14.1 + 11.8 + 12.4 = 55 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [SJVN Ltd](https://www.sectoralpha.in/stocks/sjvn-ltd) SJVN · quiet · Evidence leans up · 93% evidence 54.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.0/35 · Revenue 99% · Profit 77.6% · Operating margin change -12 points · 100% evidence Capital efficiency 11.5/25 · ROCE 5.7% · Operating margin 71% · 100% evidence Valuation 14.8/20 · P/E 21.2× · PEG 0.29 · 65% evidence Relative strength 3.3/20 · Lead over its industry -14% · Lead over NIFTY 500 -20.9% · 1 year -39.4% · 100% evidence · 0 of 12 weeks ahead Exact sum: 25 + 11.5 + 14.8 + 3.3 = 54.6 · What this means: Earnings are strong; relative strength in its sector is -14% and the one-year return is -39.4%. 8. [NTPC Green Energy Ltd](https://www.sectoralpha.in/stocks/ntpc-green-energy-ltd) NTPCGREEN · quiet · Evidence leans up · 83% evidence 52.3 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.7/35 · Revenue 49.3% · Profit 8.6% · Operating margin change 2 points · 100% evidence Capital efficiency 11.8/25 · ROCE 3.6% · Operating margin 88% · 100% evidence Valuation 8.8/20 · P/E 106× · PEG n/a · 15% evidence Relative strength 11.0/20 · Lead over its industry -0.7% · Lead over NIFTY 500 -8.7% · 1 year -20.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 20.7 + 11.8 + 8.8 + 11 = 52.3 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 9. [NHPC Ltd](https://www.sectoralpha.in/stocks/nhpc-ltd) NHPC · turning · Evidence leans up · 96% evidence 51.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.8/35 · Revenue 12% · Profit 24% · Operating margin change 6 points · 88% evidence Capital efficiency 9.1/25 · ROCE 5.8% · Operating margin 62% · 100% evidence Valuation 4.3/20 · P/E 20.6× · PEG 3.32 · 100% evidence Relative strength 17.7/20 · Lead over its industry 14.3% · Lead over NIFTY 500 5.4% · 1 year -8.4% · 100% evidence · 1 of 12 weeks ahead Exact sum: 20.8 + 9.1 + 4.3 + 17.7 = 51.9 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [KPI Green Energy Ltd](https://www.sectoralpha.in/stocks/kpi-green-energy-ltd) KPIGREEN · quiet · Evidence leans up · 78% evidence 51.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 19.9/35 · Revenue 40% · Profit 33.2% · Operating margin change 1 points · 83% evidence Capital efficiency 17.1/25 · ROCE 13.7% · Operating margin 35% · 76% evidence Valuation 13.4/20 · P/E 12× · PEG n/a · 50% evidence Relative strength 1.1/20 · Lead over its industry -19.1% · Lead over NIFTY 500 -25.7% · 1 year -48.2% · 100% evidence · 0 of 12 weeks ahead Exact sum: 19.9 + 17.1 + 13.4 + 1.1 = 51.5 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 11. [Jaiprakash Power Ventures Ltd](https://www.sectoralpha.in/stocks/jaiprakash-power-ventures-ltd) JPPOWER · quiet · Evidence leans down · 78% evidence 48.6 out of 100 Growth Capital Valuation Relative
12. [RattanIndia Power Ltd](https://www.sectoralpha.in/stocks/rattanindia-power-ltd) RTNPOWER · basing · Evidence leans down · 66% evidence 44.9 out of 100 Growth Capital Valuation Relative
13. [CESC Ltd](https://www.sectoralpha.in/stocks/cesc-ltd) CESC · quiet · Evidence leans down · 78% evidence 44.7 out of 100 Growth Capital Valuation Relative
14. [Orient Green Power Company Ltd](https://www.sectoralpha.in/stocks/orient-green-power-company-ltd) GREENPOWER · basing · Evidence leans down · 71% evidence 44.5 out of 100 Growth Capital Valuation Relative
15. [Tata Power Company Ltd](https://www.sectoralpha.in/stocks/tata-power-company-ltd) TATAPOWER · quiet · Evidence leans down · 96% evidence 43.9 out of 100 Growth Capital Valuation Relative
16. [NLC India Ltd](https://www.sectoralpha.in/stocks/nlc-india-ltd) NLCINDIA · quiet · Evidence leans down · 78% evidence 42.2 out of 100 Growth Capital Valuation Relative
17. [Torrent Power Ltd](https://www.sectoralpha.in/stocks/torrent-power-ltd) TORNTPOWER · quiet · Evidence leans down · 78% evidence 39.8 out of 100 Growth Capital Valuation Relative
18. [India Power Corporation Ltd](https://www.sectoralpha.in/stocks/india-power-corporation-ltd) DPSCLTD · quiet · Evidence leans down · 81% evidence 38.4 out of 100 Growth Capital Valuation Relative
19. [Reliance Power Ltd](https://www.sectoralpha.in/stocks/reliance-power-ltd) RPOWER · basing · Most evidence points down · 64% evidence 28.8 out of 100 Growth Capital Valuation Relative
20. [BF Utilities Ltd](https://www.sectoralpha.in/stocks/bf-utilities-ltd) BFUTILITIE · quiet · Too little evidence to rank firmly · 53% evidence 27.2 out of 100 Growth Capital Valuation Relative
21. [Mac Charles (India) Ltd](https://www.sectoralpha.in/stocks/mac-charles-indialtd) Too little evidence to rank firmly · 32% evidence 52.3 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Power - Generation/Distribution](https://www.sectoralpha.in/sectors/power-generation-distribution), all 21 compared on one page. ## Which companies are close to Adani Power in size? Adani Power is the largest of 21 Power - Generation/Distribution companies on Sector Alpha by market value (scores of 30 October 2026). It is the largest. Just below it: NTPC, Adani Green Energy, Tata Power Company, JSW Energy, NHPC and NTPC Green Energy. ### Power - Generation/Distribution companies close in size

1. Adani Power Ltd ₹3,64,481 crore
2. [NTPC Ltd](https://www.sectoralpha.in/stocks/ntpc-ltd) ₹3,06,657 crore
3. [Adani Green Energy Ltd](https://www.sectoralpha.in/stocks/adani-green-energy-ltd) ₹2,13,919 crore
4. [Tata Power Company Ltd](https://www.sectoralpha.in/stocks/tata-power-company-ltd) ₹1,10,255 crore
5. [JSW Energy Ltd](https://www.sectoralpha.in/stocks/jsw-energy-ltd) ₹91,738 crore
6. [NHPC Ltd](https://www.sectoralpha.in/stocks/nhpc-ltd) ₹78,090 crore
7. [NTPC Green Energy Ltd](https://www.sectoralpha.in/stocks/ntpc-green-energy-ltd) ₹69,467 crore

[All 21 Power - Generation/Distribution companies, largest first](https://www.sectoralpha.in/sectors/power-generation-distribution#all-companies)

### Companies close in size in other industries

1. [HCL Technologies Ltd](https://www.sectoralpha.in/stocks/hcl-technologies-ltd) ₹3,87,539 crore · IT - Software
2. [Axis Bank Ltd](https://www.sectoralpha.in/stocks/axis-bank-ltd) ₹3,78,983 crore · Banks - Private
3. Adani Power Ltd ₹3,64,481 crore
4. [Maruti Suzuki India Ltd](https://www.sectoralpha.in/stocks/maruti-suzuki-india-ltd) ₹3,58,325 crore · Auto - 4 Wheelers
5. [Mahindra & Mahindra Ltd](https://www.sectoralpha.in/stocks/mahindra-mahindra-ltd) ₹3,53,199 crore · Auto - 4 Wheelers

## What else do people ask about Adani Power? ### What is Adani Power's share price today? Adani Power Ltd's share price is ₹201.71, +33.2% over the past year. The whole company is worth ₹3,88,992 Cr on the market. In the last 52 weeks it traded between ₹133 to ₹243; today it is 62% of the way up from the low, 5.7% above its 200-day average (as of 4 November 2026). ### What were Adani Power's latest quarterly results? Adani Power Ltd reported revenue of ₹19,439 Cr and net profit of ₹7,019 Cr for the Sep 2026 quarter. Revenue rose 44.5% and profit rose 141.5% compared with a year earlier. Earnings per share were ₹3.59. The operating margin was 42.0%, 4.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Adani Power's market cap? Adani Power Ltd's market capitalisation is ₹3,88,992 Cr at a share price of ₹201.71. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Adani Power performing? Adani Power Ltd's share price has been rising for 71 weeks. In its latest quarter, revenue rose 44.5% and profit rose 141.5% compared with a year earlier. Over the past 13 weeks it has done better than the NIFTY 500, for 1 week running (as of 4 November 2026). ### Will Adani Power's share price go up? This page does not forecast Adani Power Ltd's share price. What it shows instead: the share price is ₹201.71, and it has been rising for 71 weeks. Its P/E of 21.3× is higher than 66% of its own last 11 years (as of 4 November 2026). ### Who owns Adani Power? Promoters own 75.0% of Adani Power Ltd, foreign institutions 11.0%, domestic institutions 4.5% and the public 9.6% (latest quarter). The biggest change over the last two years: Domestic institutions raised their stake by 2.9 percentage points over 8 quarters (as of 4 November 2026). ### Does Adani Power have too much debt? Adani Power Ltd has a moderate amount of debt: its debt is 0.84× its equity, and its operating profit is 6 times its interest bill. FY26 borrowings were ₹54,670 Cr against equity of ₹64,937 Cr. Keep that borrowing in mind when reading the returns on this page (as of 4 November 2026). ### Where is Adani Power in its business cycle? Adani Power Ltd's FY26 operating margin was 37.0%, against a 13-year range of 21.0% to 38.0%: the middle of its own range, neither a peak nor a low. The latest quarter was 42.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Adani Power story? The main question: the share price moved +33.2% in a year while yearly earnings per share moved −0.7%. The difference came from the market paying a higher multiple. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Adani Power a stock worth studying right now? What the numbers show: Adani Power Ltd's share price has risen faster than its earnings: +33.2% in a year, against −0.7% for earnings per share. The main open question: whether earnings grow into a price that has already moved. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Adani Power share price forecast for 2026? What management itself guided: Portfolio goal 45 GW by 2032, including 3 GW from inorganic acquisitions; Bhutan hydro objective is 5 GW. ## Lists

- Power & green energy stocks: https://www.sectoralpha.in/sectors/power-stocks-india

This is research, not advice. We’re not SEBI-registered.