Adani Power Q1FY27 Results: Net profit rises 33% YoY to $514 million
- Net profit rose 33% YoY to $514 million in Q1FY27
- Revenue grew 20% to $2,040 million with EBITDA margin at 43%
- Plant availability improved to 96%, up from 89% in FY26
- Locked-in capacity of 23.7 GW supports target of 42 GW by FY32
- Strong balance sheet with $966 million cash and AA+ credit rating
*this image is generated using AI for illustrative purposes only.
Adani Power Limited reported a 33% year-on-year increase in net profit to $514 million for the first quarter of FY27. The growth was supported by a 20% rise in revenue to $2,040 million and an expansion in EBITDA margins to 43%.
The company’s operating capacity stands at 18,330 MW, with plant availability reaching 96% in the quarter, up from 89% in FY26. This operational efficiency contributed to higher EBITDA of $884 million, reflecting a 23% YoY growth.
Financial Performance
| Metric | Q1FY27 | Q1FY26 | Change |
|---|---|---|---|
| Revenue | $2,040 million | $1,700 million | +20% |
| EBITDA | $884 million | $719 million | +23% |
| Net Profit | $514 million | $387 million | +33% |
| EBITDA Margin | 43% | 42% | +100 bps |
Revenue from operations grew to $1,996 million, while fuel costs remained at $1,004 million. The company maintained strong profitability despite rising input costs, aided by efficient fuel management and high dispatch levels.
What the Numbers Show
Continuing EBITDA rose 10% YoY to $737 million, indicating steady core business performance. Meanwhile, total PAT grew at a faster pace (33%), suggesting that non-operational or exceptional items may have contributed to the bottom-line surge. With net debt standing at $5,030 million, the net debt-to-continuing EBITDA ratio remains manageable at approximately 2.1x (TTM as of June 2026).
Capacity and Growth Pipeline
Adani Power operates 13 assets across nine states. The company has 23,720 MW of locked-in capacity under development, with 13,320 MW already tied up through long-term power purchase agreements (PPAs).
Key highlights include:
- 95% of existing capacity is secured under PPAs.
- 60% of upcoming capacity is brownfield, ensuring faster execution.
- Target capacity expansion to 42,050 MW by FY32.
Operational Efficiency
Plant availability improved significantly to 96% in Q1FY27 from 89% in FY26. The company utilizes AI/ML-based predictive maintenance and real-time monitoring via its Energy Network Operations Center to optimize performance. Fuel security remains strong, with 87% of domestic coal-based capacity backed by long-term fuel supply agreements.
Balance Sheet Strength
As of June 2026, Adani Power held cash balances of $966 million, alongside fund flow from operations (FFO) of $2,293 million for FY26. The company’s credit ratings have been upgraded by multiple agencies, with CareEdge Ratings assigning an AA+/Stable outlook. This strong liquidity position supports its self-funded growth strategy for the next seven years.
Historical Stock Returns for Adani Power
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.31% | -3.83% | -2.60% | +48.37% | +67.97% | 0.0% |
How might the company's target to expand capacity to 42,050 MW by FY32 impact its net debt-to-EBITDA ratio, given the current leverage of 2.1x?
What are the potential risks to maintaining 96% plant availability as Adani Power scales up operations and integrates new brownfield assets?
Could rising global coal prices erode the current EBITDA margin expansion if fuel cost pass-through mechanisms in PPAs are insufficient?
19
Access 50+ Readymade Screeners 
Use 200+ Custom Filters 
Get Full Market Insights 
