Adani Power Limited has announced its financial results for the quarter and year ended March 31, 2026. The company reported a Profit After Tax (PAT) of ₹4,271 crore for Q4 FY26, marking a significant 64% YoY increase. For the full fiscal year, the company maintained stable revenue and profitability, achieving an EBITDA of ₹23,431 crore, underpinned by its resilient business model, cost-efficient fuel sourcing, and high power purchase agreement (PPA) coverage.
Financial Performance Highlights
Adani Power demonstrated strong operational and financial resilience throughout the fiscal year. In Q4 FY26, the company achieved a Total Continuing Revenue of ₹15,059 crore, up 3.7% compared to the same period in the previous year. The Reported PAT for the full FY26 reached ₹12,971 crore, representing a 2% YoY growth, reflecting the company’s ability to navigate a dynamic demand environment through efficient asset management and strategic PPA tie-ups.
Operational Achievements
The company maintains a massive operational capacity of 18,150 MW across 13 assets. Operational efficiency remained a key focus, with 95%+ of its operating capacity now tied up under long-term PPAs. This focus on contract-assured revenue provides significant protection against merchant market volatility. Furthermore, the company has secured a locked-in capacity of 23,720 MW, with 13 projects currently in the pipeline by FY32, ensuring sustained long-term growth.
Strategic Outlook and Growth
Adani Power continues to capitalize on India’s growing base load power demand. With 100% of its land acquired and 100% of critical equipment ordered for its 23.7 GW project pipeline, the company is well-positioned for rapid execution. The company is actively pursuing 13+ GW of additional thermal PPA bids. With an effectively unlevered capital structure and significant internal accruals, Adani Power is poised to continue its trajectory as India’s largest private sector thermal power producer.
Sustainability and Governance
Commitment to responsible growth remains central to APL’s operations. The company achieved an ESG rating score of 80 from CareEdge, outperforming the industry median by 35%. Significant progress was noted in environmental metrics, with water intensity for FY26 recorded at 2.34 m³/MWh, which is 34% lower than the statutory limit for inland plants.
Source: BSE
