26-Oct-2026 15:49:45
ADANI POWER Q2 FY27 : TARGETS 45 GW CAPACITY BY FY32, PLANS 24 GW THERMAL EXPANSION & EXPECTS PEAK DEBT OF ₹1 LAKH CR BY FY30–31
• MANAGEMENT TARGETS TOTAL POWER GENERATION CAPACITY OF 45 GW BY FY32 VS CURRENT APPROXIMATELY 18 GW, REPRESENTING 2.5X CAPACITY EXPANSION • COMPANY PLANS 24 GW ORGANIC THERMAL CAPACITY ADDITIONS, TAKING TOTAL ORGANIC CAPACITY TO 42 GW, WITH ANOTHER 3 GW TARGETED THROUGH ACQUISITIONS • APPROXIMATELY 62% OF THE 24 GW THERMAL EXPANSION PIPELINE IS ALREADY COVERED UNDER LONG-TERM POWER PURCHASE AGREEMENTS • KORBA PHASE 2 FIRST 660 MW UNIT EXPECTED TO COMMISSION IN Q3 FY27, WHILE SECOND 660 MW UNIT IS TARGETED FOR Q4 FY27 • MAHAN PHASE 2 EXPANSION OF 1,600 MW TARGETED FOR COMMISSIONING IN EARLY FY28, SUPPORTING ADDITIONAL GENERATION CAPACITY • COMPANY ANNOUNCED AN ADDITIONAL 1,600 MW EXPANSION AT RAIPUR, TAKING PLANNED CAPACITY AT THE LOCATION TO APPROXIMATELY 4,570 MW • MANAGEMENT EXPECTS STRONG POWER DEMAND TO CONTINUE IN FY28, SUPPORTED BY INDUSTRIAL GROWTH & INCREASING DATA CENTER ELECTRICITY REQUIREMENTS • MANAGEMENT EXPECTS NORMALIZED PLANT LOAD FACTOR AROUND 65%, COMPARED WITH Q2 FY27 UTILIZATION OF 70.1% • Q2 CONTINUING REVENUE UP 28.5% YOY TO ₹17,528 CR, WHILE CONTINUING EBITDA UP 18.5% YOY TO ₹6,321 CR • Q2 NET PROFIT UP APPROXIMATELY 141% YOY TO ₹7,019 CR, BENEFITING FROM ₹2,422 CR PRIOR-PERIOD REVENUE & A ₹231 CR NET TAX CREDIT • POWER SALES UP 11.5% YOY TO 26.4 BILLION UNITS, WHILE LONG-TERM PPA VOLUMES INCREASED 29.7% YOY • COMPANY SECURED A 25-YEAR POWER PURCHASE AGREEMENT FOR 1,320 MW SUPPLY TO UTTARAKHAND, SUPPORTING LONG-TERM REVENUE VISIBILITY • MANAGEMENT TARGETS APPROXIMATELY 5,000 MW HYDROPOWER DEVELOPMENT IN BHUTAN, WHILE NUCLEAR POWER EXPANSION REMAINS SUBJECT TO REGULATORY CLARITY • MANAGEMENT EXPECTS PEAK DEBT OF APPROXIMATELY ₹1 LAKH CR BY FY30–31, WITH EXPANSION FUNDED PRIMARILY THROUGH INTERNAL ACCRUALS & ADDITIONAL BORROWINGS • IMPORTED COAL COSTS UP APPROXIMATELY 50%, WHILE GUJARAT PPA FUEL-COST RECOVERY MAY TAKE OVER SIX MONTHS; HIGHER DEBT, PROJECT EXECUTION & ONE-TIME EARNINGS BENEFITS REMAIN KEY RISKS
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