Adani Power Limited
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 17,550 megawatt (MW). It also oper… Read more
Adani Power Limited (ADANIPOWER) - Net Assets
Latest net assets as of September 2025: ₹596.47 Billion INR
Based on the latest financial reports, Adani Power Limited (ADANIPOWER) has net assets worth ₹596.47 Billion INR as of September 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (₹1.26 Trillion) and total liabilities (₹659.04 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | ₹596.47 Billion |
| % of Total Assets | 47.51% |
| Annual Growth Rate | 57.11% |
| 5-Year Change | 339.83% |
| 10-Year Change | 681.84% |
| Growth Volatility | 567.24 |
Adani Power Limited - Net Assets Trend (2006–2025)
This chart illustrates how Adani Power Limited's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Adani Power Limited (2006–2025)
The table below shows the annual net assets of Adani Power Limited from 2006 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-03-31 | ₹576.73 Billion | +33.67% |
| 2024-03-31 | ₹431.45 Billion | +44.42% |
| 2023-03-31 | ₹298.76 Billion | +59.73% |
| 2022-03-31 | ₹187.03 Billion | +42.64% |
| 2021-03-31 | ₹131.13 Billion | +102.34% |
| 2020-03-31 | ₹64.80 Billion | -15.97% |
| 2019-03-31 | ₹77.12 Billion | +771.90% |
| 2018-03-31 | ₹8.85 Billion | -70.51% |
| 2017-03-31 | ₹30.00 Billion | -59.34% |
| 2016-03-31 | ₹73.77 Billion | +28.86% |
| 2015-03-31 | ₹57.25 Billion | -12.51% |
| 2014-03-31 | ₹65.43 Billion | +52.41% |
| 2013-03-31 | ₹42.93 Billion | -34.95% |
| 2012-03-31 | ₹66.00 Billion | -3.70% |
| 2011-03-31 | ₹68.54 Billion | +16.55% |
| 2010-03-31 | ₹58.80 Billion | +148.75% |
| 2009-03-31 | ₹23.64 Billion | +64.05% |
| 2008-03-31 | ₹14.41 Billion | +417.63% |
| 2007-03-31 | ₹2.78 Billion | +2480.83% |
| 2006-03-31 | ₹107.87 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Adani Power Limited's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 31785253000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (March 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | ₹317.85 Billion | 56.41% |
| Common Stock | ₹38.57 Billion | 6.84% |
| Other Comprehensive Income | ₹132.86 Billion | 23.58% |
| Other Components | ₹74.19 Billion | 13.17% |
| Total Equity | ₹563.47 Billion | 100.00% |
Adani Power Limited Competitors by Market Cap
The table below lists competitors of Adani Power Limited ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
GDS Holdings Ltd
NASDAQ:GDS
|
$9.29 Billion |
|
Oshkosh Corporation
NYSE:OSK
|
$9.29 Billion |
|
KGHM Polska Miedz SA
WAR:KGH
|
$9.30 Billion |
|
United Utilities Group PLC
PINK:UUGWF
|
$9.34 Billion |
|
Eiffage SA
OTCGREY:EFGSF
|
$9.28 Billion |
|
Dongfeng Motor Group Co Ltd
PINK:DNFGY
|
$9.27 Billion |
|
DocuSign Inc
NASDAQ:DOCU
|
$9.27 Billion |
|
Yunnan Aluminium Co Ltd
SHE:000807
|
$9.26 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Adani Power Limited's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 431,450,300,000 to 563,470,900,000, a change of 132,020,600,000 (30.6%).
- Net income of 129,387,700,000 contributed positively to equity growth.
- Dividend payments of 8,400,700,000 reduced retained earnings.
- Share repurchases of 42,580,800,000 reduced equity.
- New share issuances of 2,500,000,000 increased equity.
- Other comprehensive income increased equity by 13,442,700,000.
- Other factors increased equity by 37,671,700,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | ₹129.39 Billion | +22.96% |
| Dividends Paid | ₹8.40 Billion | -1.49% |
| Share Repurchases | ₹42.58 Billion | -7.56% |
| Share Issuances | ₹2.50 Billion | +0.44% |
| Other Comprehensive Income | ₹13.44 Billion | +2.39% |
| Other Changes | ₹37.67 Billion | +6.69% |
| Total Change | ₹- | 30.60% |
Book Value vs Market Value Analysis
This analysis compares Adani Power Limited's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 5.39x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 12.21x to 5.39x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2006-03-31 | ₹12.62 | ₹154.06 | x |
| 2007-03-31 | ₹2.14 | ₹154.06 | x |
| 2008-03-31 | ₹1.32 | ₹154.06 | x |
| 2009-03-31 | ₹2.10 | ₹154.06 | x |
| 2010-03-31 | ₹5.58 | ₹154.06 | x |
| 2011-03-31 | ₹5.77 | ₹154.06 | x |
| 2012-03-31 | ₹5.54 | ₹154.06 | x |
| 2013-03-31 | ₹3.59 | ₹154.06 | x |
| 2014-03-31 | ₹4.68 | ₹154.06 | x |
| 2015-03-31 | ₹3.99 | ₹154.06 | x |
| 2016-03-31 | ₹4.93 | ₹154.06 | x |
| 2017-03-31 | ₹1.73 | ₹154.06 | x |
| 2018-03-31 | ₹0.46 | ₹154.06 | x |
| 2019-03-31 | ₹4.00 | ₹154.06 | x |
| 2020-03-31 | ₹3.36 | ₹154.06 | x |
| 2021-03-31 | ₹6.80 | ₹154.06 | x |
| 2022-03-31 | ₹48.49 | ₹154.06 | x |
| 2023-03-31 | ₹77.46 | ₹154.06 | x |
| 2024-03-31 | ₹22.37 | ₹154.06 | x |
| 2025-03-31 | ₹28.57 | ₹154.06 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Adani Power Limited utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 22.96%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 23.02%
- • Asset Turnover: 0.50x
- • Equity Multiplier: 2.00x
- Recent ROE (22.96%) is above the historical average (-20.41%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2006 | -0.01% | 0.00% | 0.00x | 1.27x | ₹-10.80 Million |
| 2007 | -0.82% | 0.00% | 0.00x | 2.35x | ₹-301.22 Million |
| 2008 | -0.50% | 0.00% | 0.00x | 2.00x | ₹-1.51 Billion |
| 2009 | -0.11% | 0.00% | 0.00x | 3.45x | ₹-2.32 Billion |
| 2010 | 2.94% | 39.12% | 0.02x | 3.10x | ₹-4.08 Billion |
| 2011 | 8.17% | 24.05% | 0.06x | 5.56x | ₹-1.15 Billion |
| 2012 | -4.76% | -7.02% | 0.08x | 8.51x | ₹-8.91 Billion |
| 2013 | -53.45% | -33.85% | 0.12x | 12.80x | ₹-27.24 Billion |
| 2014 | -4.44% | -1.88% | 0.26x | 8.98x | ₹-9.45 Billion |
| 2015 | -14.25% | -4.33% | 0.32x | 10.21x | ₹-13.88 Billion |
| 2016 | 7.47% | 2.16% | 0.37x | 9.40x | ₹-1.87 Billion |
| 2017 | -205.83% | -27.30% | 0.32x | 23.84x | ₹-64.74 Billion |
| 2018 | -237.75% | -10.36% | 0.29x | 78.60x | ₹-21.91 Billion |
| 2019 | -12.76% | -4.12% | 0.35x | 8.82x | ₹-17.56 Billion |
| 2020 | -35.10% | -8.59% | 0.35x | 11.58x | ₹-29.23 Billion |
| 2021 | 9.69% | 4.84% | 0.33x | 5.99x | ₹-412.79 Million |
| 2022 | 26.26% | 17.72% | 0.34x | 4.38x | ₹30.41 Billion |
| 2023 | 35.90% | 27.67% | 0.45x | 2.87x | ₹77.39 Billion |
| 2024 | 48.28% | 41.37% | 0.55x | 2.14x | ₹165.14 Billion |
| 2025 | 22.96% | 23.02% | 0.50x | 2.00x | ₹73.04 Billion |
Industry Comparison
This section compares Adani Power Limited's net assets metrics with peer companies in the Utilities - Independent Power Producers industry.
Industry Context
- Industry: Utilities - Independent Power Producers
- Average net assets among peers: $53,872,371,812
- Average return on equity (ROE) among peers: 23.36%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Adani Power Limited (ADANIPOWER) | ₹596.47 Billion | -0.01% | 1.10x | $9.28 Billion |
| Adani Energy Solutions Limited (ADANIENSOL) | $10.70 Billion | 8.33% | 9.72x | $3.74 Billion |
| Orient Green Power Company Limited (GREENPOWER) | $4.46 Billion | -12.90% | 3.25x | $85.25 Million |
| GVK Power & Infrastructure Limited (GVKPIL) | $12.45 Billion | -29.19% | 16.52x | $22.27 Million |
| Jaiprakash Power Ventures Limited (JPPOWER) | $5.49 Billion | 10.55% | 2.12x | $1.05 Billion |
| JSW Energy Limited (JSWENERGY) | $12.00 Billion | 22.67% | 0.77x | $3.13 Billion |
| Reliance Power Limited (RPOWER) | $212.35 Billion | 3.96% | 1.93x | $741.43 Million |
| RattanIndia Power Limited (RTNPOWER) | $43.64 Billion | 203.87% | 1.19x | $248.65 Million |
| Surana Telecom and Power Limited (SURANAT&P) | $638.41 Million | 2.02% | 2.15x | $7.95 Million |
| Tata Power Company Limited (TATAPOWER) | $183.11 Billion | 0.92% | 3.12x | $7.68 Billion |