Q3 2026 Adani Power Ltd Earnings Call Transcript
Key Points
- Adani Power Ltd (BOM:533096) maintained strong liquidity with timely payments from all customers, including Bangladesh.
- The company successfully operationalized the 600-megawatt Butibori power plant, which had been shut down for several years.
- Adani Power Ltd (BOM:533096) has tied up 90% of its operating capacity under long-term and medium-term PPAs, providing strong revenue visibility.
- The company raised INR7,500 crore through AA-rated non-convertible debentures to support capacity expansion and working capital.
- Adani Power Ltd (BOM:533096) is progressing well on its 23.7-gigawatt thermal expansion program, with several phases nearing completion.
- Power demand in Q3 FY26 was weaker than the previous year due to early monsoons and cooler temperatures.
- Total revenue for Q3 FY26 was slightly lower than the same period last year, primarily due to lower power selling rates and merchant prices.
- Fuel costs decreased by 9.7% in Q3 FY26, reflecting a reduction in import coal prices, which also led to lower revenue in some coal-linked PPAs.
- Operating expenses increased by 14.8% in Q3 FY26 due to recently acquired assets being operational and higher CSR spending.
- Profit after tax for Q3 FY26 was lower compared to the previous year, partly due to a decrease in prior period income.
Ladies and gentlemen, good day and welcome to Adani Power Limited Q3 FY26 earnings conference call, hosted by ICICI Securities Limited.
(Operator Instructions)
I now hand the conference over to Mr. Mohit Kumar from ICICI Securities Limited. Thank you. Over to you, sir.
Yeah. Thank you, [Rutuja]. Good evening. On behalf of ICICI Securities, I would like to welcome you all to Q3 FY26 earnings call of Adani Power Limited.
Today, we have with us from the management, Mr. Dilip Jha, CFO; Mr. Nishit Dave, Head, Investor Relations. We will start with brief opening remarks, which will be followed by Q&A.
Over to you, sir.
Hi. Thank you, Mohit. Good afternoon. Good afternoon, everyone. Thank you for joining the call.
Our CEO, Mr. SB Khyalia, could not join us today due to some business exigency. We apologize for this.
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