Adani Power Limited has formally notified the stock exchanges about its upcoming board meeting scheduled for January 29, 2026, where directors will review and approve the company's third-quarter financial results. The meeting will focus on the unaudited financial results for both the quarter and nine months ended December 31, 2025.

Board Meeting Details

The company has communicated to both BSE Limited and National Stock Exchange of India Limited regarding the board meeting under Regulation 29 of the SEBI Listing Regulations. The notification was signed by Company Secretary Deepak S Pandya on January 7, 2026, from the company's corporate headquarters in Ahmedabad.

Trading Window Restrictions

In compliance with the company's Code of Conduct for Prevention of Insider Trading, Adani Power Limited has implemented a trading window closure for its securities. The restriction period began on January 1, 2026, and will continue until 48 hours after the financial results are declared and made public following the board meeting conclusion.

The company has already informed its designated persons and stock exchanges about this trading window closure period, ensuring adherence to insider trading prevention regulations.

Post-Results Conference Call

Following the board meeting, Adani Power Limited will host a post-results conference call with investors on January 29, 2026. This conference call will provide stakeholders with detailed insights into the company's financial performance for the quarter and nine months ended December 31, 2025.

Regulatory Compliance

The announcement fulfills the company's obligations under Regulation 30 of the SEBI Listing Regulations. All relevant information regarding the board meeting and conference call will be made available on the company's official website at www.adanipower.com , ensuring transparent communication with stakeholders and the investment community.

Domestic brokerage firm JM Financial has initiated coverage on Adani Power with a 'Buy' rating, setting a target price of ₹178 per share. This implies a potential upside of 22.8% from the current market price of approximately ₹145. The brokerage's optimism stems from the company's strong execution capabilities, dominant position in the thermal power space, and robust demand outlook for power in India.

Strategic Capacity Expansion Plans

JM Financial highlights that Adani Power has strategically built capacities to become India's largest private sector thermal power producer. The company's expansion trajectory shows significant ambition in scaling operations.

The brokerage notes that Adani Power has demonstrated strong execution capabilities, being the first to synchronize critical assets like the 4,620MW Mundra project within a 36-month timeline. The company has also strategically pre-ordered key equipment to avoid potential delays in project implementation.

Thermal Power's Critical Role in India's Energy Future

JM Financial emphasizes the indispensability of thermal power in meeting India's projected peak power demand of over 700GW by 2047. With increasing penetration of variable renewable energy sources such as solar and wind, the brokerage believes grid reliability will depend on dependable base load thermal generation.

India's coal-fired generation capacity is estimated to reach 340GW by 2047, requiring incremental additions of 137GW to meet this goal. In this context, Adani Power's early positioning and aggressive capacity build-out offer a significant competitive edge.

Financial Projections and Performance Metrics

JM Financial has outlined robust financial expectations for Adani Power, projecting strong growth across key metrics.

The debt profile shows a temporary increase during the expansion phase, with Net debt/EBITDA projected to climb from 1.6x in FY25 to 3.0x by FY29, driven by incremental debt for capital expenditure of ₹2 trillion over FY25-32. However, this ratio is expected to moderate back to 1.6x by FY31 as operational capacity comes online.

Operational Excellence Indicators

Adani Power's operational performance metrics strengthen the case for sustained earnings growth. The company demonstrates superior operational efficiency with a 71% plant load factor (PLF) and 91% plant availability factor (PAF). These metrics, combined with secured project components, support JM Financial's optimistic outlook on the company's ability to deliver consistent performance during the anticipated capacity expansion phase.