AZREF (Azure Power Global) Days Payable: 280.53 (As of Mar. 2024)


AZREF Azure Power Global Ltd AZREF
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What is Azure Power Global Days Payable?

Azure Power Global AZREF 12 Days Payable is 280.53 as of Mar. 2024. GuruFocus rates AZREF with a GF Score™ of 12/100.

Azure Power Global's average Accounts Payable for the six months ended in Mar. 2024 was $17.7 Mil. Azure Power Global's Cost of Goods Sold for the six months ended in Mar. 2024 was $23.1 Mil. Hence, Azure Power Global's Days Payable for the six months ended in Mar. 2024 was 140.26.

The historical rank and industry rank for Azure Power Global's Days Payable or its related term are showing as below:

AZREF's Days Payable is not ranked *
in the Utilities - Independent Power Producers industry.
Industry Median: 79.9
* Ranked among companies with meaningful Days Payable only.

Azure Power Global's Days Payable declined from Mar. 2022 (921.76) to Mar. 2024 (280.53). It may suggest that Azure Power Global accelerated paying its suppliers.

Azure Power Global Days Payable Historical Data

* Premium members only.

The historical data trend for Azure Power Global's Days Payable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Azure Power Global Days Payable Chart

Azure Power Global Annual Data
Trend Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Days Payable
Get a 7-Day Free Trial Premium Member Only Premium Member Only 879.90 875.25 921.76 536.20 280.53

Azure Power Global Semi-Annual Data
Mar14 Mar15 Mar16 Mar17 Mar18 Mar19 Mar20 Mar21 Mar22 Mar23 Mar24
Days Payable Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only 879.90 875.25 921.76 536.20 280.53

AZREF vs SAFX, VGAS, STEM: Days Payable Comparison

For the Utilities - Renewable subindustry, Azure Power Global's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Azure Power Global Days Payable vs Utilities - Independent Power Producers Industry

For the Utilities - Independent Power Producers industry and Utilities sector, Azure Power Global's Days Payable distribution charts can be found below:

* The bar in red indicates where Azure Power Global's Days Payable falls into.


AZREF
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Azure Power Global Ltd AZREF
Days Payable is just one metric. See GF Score™, valuation, warning signs, and more.
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Azure Power Global Days Payable Calculation

Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.

Azure Power Global's Days Payable for the fiscal year that ended in Mar. 2024 is calculated as

Days Payable (A: Mar. 2024 )
=Average Accounts Payable /Cost of Goods Sold*Days in Period
=( (Accounts Payable (A: Mar. 2023 ) + Accounts Payable (A: Mar. 2024 )) / count ) / Cost of Goods Sold (A: Mar. 2024 )*Days in Period
=( (18.282 + 17.212) / 2 ) / 23.091*365
=17.747 / 23.091*365
=280.53

Azure Power Global's Days Payable for the quarter that ended in Mar. 2024 is calculated as:

Days Payable (Q: Mar. 2024 )
=Average Accounts Payable / Cost of Goods Sold*Days in Period
=( (Accounts Payable (Q: Mar. 2023 ) + Accounts Payable (Q: Mar. 2024 )) / count ) / Cost of Goods Sold (Q: Mar. 2024 )*Days in Period
=( (18.282 + 17.212) / 2 ) / 23.091*365 / 2
=17.747 / 23.091*365 / 2
=140.26

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Days Payable →
What does a Days Payable of 280.53 mean?
Azure Power Global (AZREF) has a Days Payable of 280.53 as of Mar. 2024. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Azure Power Global and its competitors.
Is Azure Power Global's Days Payable too high?
Azure Power Global's current Days Payable is 280.53. The Utilities - Independent Power Producers industry median Days Payable is 79.90. Azure Power Global's value of 280.53 is 251.1% above this industry median. Overall, Azure Power Global has a GF Score™ of 12/100, reflecting its overall financial health beyond just this single metric.
How does Azure Power Global's Days Payable compare to SAFX and VGAS?
Azure Power Global's Days Payable of 280.53 can be compared against companies in the Utilities - Independent Power Producers industry. The industry median Days Payable is 79.90. Azure Power Global's value of 280.53 is 251.1% above this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Days Payable for an Utilities - Independent Power Producers company?
The median Days Payable among Utilities - Independent Power Producers companies is 79.90, based on 390 companies in the industry. Companies in the top quartile (top 25%) have a Days Payable significantly above this median, while those in the bottom quartile fall well below. However, Days Payable should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Azure Power Global's current Days Payable of 280.53 is 251.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Days Payable mean?
A high Days Payable can signal that a stock is expensive relative to its fundamentals. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Azure Power Global and its competitors. For the Utilities - Independent Power Producers industry, the median Days Payable is 79.90 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Azure Power Global's current Days Payable is 280.53. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Azure Power Global stock overvalued right now?
Azure Power Global (AZREF) has a current Days Payable of 280.53. The current Days Payable is 280.53 and 251.1% above the Utilities - Independent Power Producers industry median of 79.90. Azure Power Global's overall GF Score™ is 12/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Days Payable calculated?
Days Payable is calculated from a company's financial statements. For Azure Power Global (AZREF), the current Days Payable is 280.53 as of Mar. 2024. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Azure Power Global Business Description

Address Phase II, 8th Floor, Tower A, DLF Infinity, Cyber City, Gurugram, HR, IND, 122002
Azure Power Global Ltd is a utility-scale renewable energy project developer and operator. It is engaged in the development, construction, ownership, operation, maintenance, and management of renewable energy assets based on long-term contracts (Power Purchase Agreements or PPA) with Indian Government energy distribution companies, as well as other Indian non-governmental energy distribution companies and commercial customers.
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