Q4 2026 Adani Power Ltd Earnings Call Transcript
Key Points
- Adani Power Ltd (BOM:533096) achieved a landmark milestone by generating 105 billion units of power in FY26, despite tepid growth in power demand.
- The company reported a robust EBITDA of INR6,498 crore for Q4 FY26, marking a significant 27% increase year-on-year.
- Adani Power Ltd (BOM:533096) successfully tied up 10.4 gigawatts of its expansion capacity under long-term power purchase agreements, providing revenue visibility and stability.
- The company is making excellent progress towards its goal of adding 23.7 gigawatts of thermal capacity by 2032, with several projects nearing completion.
- Adani Power Ltd (BOM:533096) has maintained strong credit ratings and liquidity access, with a conservative capital management approach and a majority of expansions funded through internal accruals.
- The company faced weather-induced demand volatility and lower peak temperatures in FY26, which subdued merchant prices for most of the year.
- Adani Power Ltd (BOM:533096) has seen an increase in leverage, with total debt standing at INR53,556 crore as of March 31, 2026, primarily due to planned bridge financing for ongoing capex.
- The commissioning of the Mahan project has been delayed to FY28 due to geopolitical issues impacting labor and resource availability.
- The company has a significant portion of its capacity still exposed to merchant sales, which can be subject to market volatility and price fluctuations.
- Adani Power Ltd (BOM:533096) is facing challenges in securing timely PPA signings, which could impact future revenue streams and project timelines.
Ladies and gentlemen, you are connected to the conference call of Adani Power Limited. Please stay connected; the call will begin shortly.
Ladies and gentlemen, good evening, and welcome to the Adani Power Limited Q4 FY26 earnings conference call, hosted by ICICI Securities. (Operator Instructions) Please note that this conference has been recorded.
I now hand the conference over to Mr. Mohit Kumar from ICICI Securities. Thank you, and over to you, sir.
Thank you, Sapnali. Good morning. On behalf of ICICI Securities, I would like to welcome you all to the Q4 FY26 earnings call of Adani Power Limited.
Today, we have with us from the management Mr. S. B. Khyalia, CEO; Mr. Dilip Jha, CFO; and Mr. Nishit Dave from Investor Relations. We will start with the brief opening remarks, which will be followed by the Q&A session. Thank you, and over to you, sir.
Good morning, friends. I want
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