Key Metrics of Adani Power
About Adani Power
Part of Adani Group.
Company details
- Website
- adanipower.com
- Founded
- 1996
- Registered office
- Adani Corporate House, Shantigram,, Near Vaishno Devi Circle, S G Highway, Khodiyar., Ahmedabad, In-gj, 382421
- Listed
- NSE: ADANIPOWER · ₹184.59
Company summary
Entity details
Compliance
Industry classification
Financials, ratios and risk analysis
Revenue, EBITDA, net profit, net worth, debt and assets for every filing year, 15+ ratios, the financial health score, shareholding, charges and peer comparison are part of the premium plan.
Sign in to continue See plans & pricingFiling compliance
Due dates follow the Companies Act: AGM within six months of the year end, AOC-4 within 30 days and MGT-7 within 60 days of the AGM. A filing made but not yet uploaded here shows as pending.
Vendor checks & payment capacity
Sign in with access to company financials to review vendor evidence.
Credit ratings
Rating history
Rating actions
| Date | Agency | Action | Long term | Short term | Outlook | Rated amount | Rationale |
|---|---|---|---|---|---|---|---|
| 17 Apr 2026 | ICRA | Other | AA | A1+ | Stable | ₹69,000 Cr | View |
| 31 Dec 2018 | CARE | Other | — | — | — | — | View |
| 03 Sep 2018 | CARE | Other | — | — | — | — | View |
| 10 Jul 2018 | CARE | Other | — | — | — | — | View |
| 10 Jul 2018 | CARE | Other | — | — | — | — | View |
| 12 Dec 2017 | CARE | Other | — | — | — | — | View |
| 12 Dec 2017 | CARE | Other | — | — | — | — | View |
Credit strengths (CARE, Jul 2018)
+ Availability of credit enhancement in the form of security of first and exclusive pledge of unencumbered shares of
APSEZ, ATL and AEL held by the promoter group The rated NCD is secured by way of the first and exclusive pledge of unencumbered shares of APSEZ, ATL and AEL held by the security provider, the market value of which should be equivalent to an amount that is sufficient to maintain a cover of not less than 2 times the principal amount outstanding, provided that the aggregate value of APSEZ pledged shares provides at least 80% of the collateral cover.
+ Adani Ports and Special Economic Zone Ltd. (APSEZ)
APSEZ, incorporated in 1998, belongs to the Adani group with promoter group holding 66.27% stake in the company as on March 31, 2018. APSEZ operates in two segments viz. port development & operations and special economic zone (SEZ) development. In the port segment, APSEZ has developed and operates the Mundra port located on the Western coast of India. Apart from Mundra port, APSEZ owns and has developed ports at various other locations like Dhamra, Dahej,
+ APSEZ, incorporated in 1998, belongs to the Adani group with promoter group holding 66.27% stake in the company as on
March 31, 2018. APSEZ operates in two segments viz. port development & operations and special economic zone (SEZ) development. In the port segment, APSEZ has developed and operates the Mundra port located on the Western coast of India. Apart from Mundra port, APSEZ owns and has developed ports at various other locations like Dhamra, Dahej, Hazira, Vizag, Kandla (Tuna) and Mormugao. APSEZ through its special purpose vehicles (SPVs) has ongoing projects for
+ Adani Transmission Ltd. (ATL)
ATL, incorporated in 2013, belongs to the Adani group with promoter group holding 74.92% stake in the company as on March 31, 2018. ATL is a holding company, created to house the transmission assets of Adani group. ATL has fifteen wholly-owned subsidiaries, six of which namely Adani Transmission (India) Ltd. (ATIL), Maharashtra Eastern Grid Power Transmission Company Ltd. (MEGPTCL), Aravali Transmission Service Company Ltd. (ATSCL, rated CARE A; Stable) & Maru
+ ATL, incorporated in 2013, belongs to the Adani group with promoter group holding 74.92% stake in the company as on
March 31, 2018. ATL is a holding company, created to house the transmission assets of Adani group. ATL has fifteen wholly-owned subsidiaries, six of which namely Adani Transmission (India) Ltd. (ATIL), Maharashtra Eastern Grid Power Transmission Company Ltd. (MEGPTCL), Aravali Transmission Service Company Ltd. (ATSCL, rated CARE A; Stable) & Maru Transmission Service Company Ltd. (MTSCL, rated CARE A-; Stable), Western Transco Power Ltd. & Western Transmission
+ Adani Enterprises Ltd. (AEL)
AEL, incorporated in 1993, belongs to the Adani group with promoter group holding 74.92% stake in the company as on March 31, 2018. AEL, on a standalone basis, has mainly coal trading, power trading and coal MDO businesses, whereas, Adani Group as a whole has evolved in to a diversified conglomerate and is engaged in various businesses across a range of sectors, primarily energy (including coal mining), power generation (coal based and renewable) and transmission, port
Credit challenges
—
Borrowings & rated debt
Facility mix
Rated facilities
| Facility | Type | Previous | Current | Change | Rating | Action | Agency |
|---|---|---|---|---|---|---|---|
| loan | Other | ₹36,314 Cr | ₹35,224 Cr | −3.0% | AA (Stable) | Other | ICRA |
| Long term – Fund based – Others | Working capital & bank lines | ₹15,050 Cr | ₹15,050 Cr | 0.0% | AA (Stable) | Other | ICRA |
| Bank guarantee | Non-fund based limits | ₹6,636 Cr | ₹7,726 Cr | 16.4% | A1+ | Other | ICRA |
| Listed | Other | ₹7,500 Cr | ₹7,500 Cr | 0.0% | AA (Stable) | Other | ICRA |
| Proposed | Other | ₹3,500 Cr | ₹3,500 Cr | 0.0% | AA (Stable) | Other | ICRA |
Debt instruments
| ISIN | Instrument | Type | Coupon | Issued | Maturity | Amount | Rating | Status |
|---|---|---|---|---|---|---|---|---|
| — | Debentures Non | Debentures & bonds | 10.30% | 30 Dec 2015 | 30 Apr 2019 | ₹600 Cr | AA-(SO) | Matured |
| — | Debentures Non | Debentures & bonds | 10.70% | 30 Dec 2015 | 07 Apr 2019 | ₹408 Cr | AA-(SO) | Matured |
CARE ratings on record (checked 26 Oct 2026)
| Instrument | Amount | Rating |
|---|---|---|
| Non Convertible Debentures | — | Withdrawn |
Credit assessment · Thermal power
Rating Methodology – Thermal Power Producers (Dec 2024) · Standalone accounts · FY 2025-26
Ratios, pillar scores and the indicative rating are part of Premium.
Rating status
| Default | No default on record |
| Issuer cooperation | Cooperating |
| Credit enhancement | None – standalone rating |
| Information on file | 56% · missing: Capex / investment plans, Lender details, Auditor details, Recent rating review (last 15 months) |
Indicative assessment from public data using the published methodology factors; not a credit rating.
Borrowing & funding lifecycle
- Credit outlook model: 58% chance the next rating action is stable or better
- Current rating AA (investment grade)
- ₹3,500 cr of rated limits not yet tied to a lender
Rated limits by facility
Timeline
From the report
Original issue size of this NCD was Rs.750 crore and the outstanding against the same as on March 31, 2018 was Rs.600 crore.
From the report
Issue size was Rs.500 crore and outstanding as on March 31, 2018 against the same was Rs.408 crore.
From the report
Subsequently on November 03, 2017, National Company Law 3 CARE Ratings Limited Press Release Tribunal (NCLT) bench at Ahmedabad has sanctioned the Scheme of Arrangement between APL and APMUL.
Lender names, bank charges and audited borrowings are part of Premium.
Built from MCA charges, ICRA/CARE rating reports and audited accounts. The borrowing view is an estimate, not a lender's credit decision.
Registered office and contact
Directors and key people
Directors are read from the MGT-7 annual return and AOC-4 signatories.
Similar companies
Charges (secured borrowings)
0 registered charges. Lenders, amounts and dates are part of the premium plan.
Statutory auditors
Auditors are read from the AOC-4 auditor's report section.
Group companies
Part of Adani Group
Business activities and related parties
energy industry
Filings
No filings on record yet.