Adani Power Limited (ADANIPOWER) Fair Value & Analysis
Utilities · IN · Market cap ₹4.2T (≈ $44.7B) · ISIN INE814H01011
What is Adani Power Limited really worth?
Below-average quality, and trading another 174% above our fair value of ₹75.57.
Strengths
Risks
Fair value as of: Aug 14, 2026
From 16 valuation models · updated 22 days ago
Share price −0.9% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (₹140.85). The favourable scenario is already priced in.
- Weak quality (40/100) and above fair value at the same time, the margin of safety is missing on both counts.
- The model range is unusually wide (₹52.29 to ₹140.85). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 14, 2026.
How to read this chart
60‑month range ₹14.72 – ₹248.91 · fair‑value band ₹52.29 – ₹140.85 · the ₹207.20 price screens above the ₹75.57 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 14, 2026.
Analysis
Adani Power Limited (ADANIPOWER) currently trades at ₹207.20, while our model-based Fair Value estimate is ₹75.57, implying the stock looks roughly 174.2% overvalued today. The Quality Score stands at 40/100 (below-average quality), in the Utilities sector. Bull case: the Growth Earnings group reads highest at a median of ₹148.03 per share, and 1 of the 16 models we run sit above the ₹207.20 price. Bear case: the Asset-Based group reads lowest at ₹22.56, and 15 of the 16 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Adani Power Limited generated revenue of ₹542B at a net margin of 23.7%. Revenue declined 0.1% year over year. It earns a return on equity of 20.9%. Net debt stands at ₹477B. Fundamentals as of Aug 14, 2026
Our scenario range runs from ₹52.29 (bear case) to ₹140.85 (bull case); at ₹207.20, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 18% below its 52-week high and 97% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at −51% fair-value upside, at −64%, ADANIPOWER screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2026 figures, and about 5 months have passed since. In that time the company retained roughly ₹2.87 per share, which is 3.8 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 16 models by family
Widest divergence: Growth Earnings (₹148.03) versus Dividend Discount (₹7.49). Highest evidence: EPV (74).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 14, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 41 · Market factors (momentum, volatility) 77
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Adani Power Limited engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India.
Full company description
Adani Power Limited engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India. The company generates electricity through thermal energy sources through various power projects with a combined installed and commissioned capacity of 18,150 megawatt (MW). It also operates various coal based power plants comprising 4,620 MW at Mundra, Gujarat; 3,300 MW at Tiroda, Maharashtra; 1,320 MW at Kawai, Rajasthan; 1,200 MW at Udupi, Karnataka; 600 MW at Raigarh and Korba, Chhattisgarh; 1,370 MW at Raipur, Chhattisgarh; 1,200 MW at Mahan, Madhya Pradesh; 1,200 MW at Mutiara, Tamil Nadu; 1,600 MW at Mirzapur, Uttar Pradesh; 500 MW at Dahanu, Maharashtra; and 1600 MW at Godda, Jharkhand. The company also operates solar based power plant comprising 40 MW at Bitta, Gujarat. In addition, it engages in coal import and supply/trading business. Adani Power Limited was founded in 1988 and is headquartered in Ahmedabad, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Adani Power Limited reported revenue of ₹538B in FY2026 versus ₹277B in FY2022, a compound +18.0%/yr. Reported net income was ₹128B in FY2026, compounding +27.1%/yr from FY2022.
ADANIPOWER screens 174% overvalued. Compare with Constellation Energy Corporation →
Peer Group
Utilities - Independent Power Producers · 77 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Utilities - Independent Power Producers median · lower = cheaper
Strength profile in five axes (Snowflake)
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Utilities - Independent Power Producers stocks, each showing price versus our Fair Value estimate (as of Aug 14, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Constellation Energy Corporation CEG | $285.05 | $88.09 | −69% |
| Vistra Corp VST | $144.22 | $50.39 | −65% |
| CGN Power Co 003816 | ¥4.33 | ¥3.62 | −16% |
| Gulf Development Public Company GULF | 63.25 THB | 39.25 THB | −38% |
| NRG Energy, Inc NRG | $109.51 | $53.91 | −51% |
| Adani Energy Solutions Limited ADANIENSOL | ₹1,583 | ₹342.02 | −78% |
| Talen Energy Corporation TLN | $365.07 | $43.55 | −88% |
| Datang International Power Generation Co 601991 | ¥5.89 | ¥4.95 | −16% |
| Huaneng Power International, Inc 600011 | ¥6.92 | ¥9.14 | +32% |
| The Tata Power Company TATAPOWER | ₹368.00 | ₹175.12 | −52% |
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