Adani Power Limited (APL) saw a significant 64% year-on-year increase in its consolidated net profit to Rs 4,271 crore for the fourth quarter ended March 31 (Q4 FY26). This growth was attributed to enhanced operational efficiency and reduced tax outgo despite fluctuations in power demand. The company’s revenue for the quarter climbed by 10% to Rs 15,989 crore, with EBITDA also showing a strong 27% growth to Rs 6,498 crore as per its stock exchange filing.
Power sales volume for Adani Power increased slightly to 27.2 billion units (BU) in Q4 FY26 from 26.4 BU in the previous year, supported by consistent offtake under long-term agreements. Looking at the full financial year FY26, the company reported a net profit of Rs 12,971 crore, slightly up from Rs 12,750 crore in FY25, while total revenue stood at Rs 55,583 crore, impacted by lower merchant tariffs. Annual power generation reached 105 BU, with total sales volume rising by 3.4% to 99.15 BU according to regulatory filings.
During the year, Adani Power continued to enhance its long-term visibility, securing expansion capacity tie-ups reaching 13.3 GW. In Q4 alone, it finalized a 1,600 MW long-term power purchase agreement (PPA) from Maharashtra DISCOM under the DBFOO model, pushing the share of tied-up operating capacity to around 95%. The company’s management emphasized the crucial role of thermal power in stabilizing India’s grid amidst the increasing penetration of renewable energy.
CEO S.B. Khyalia highlighted that despite global energy price fluctuations and weather-related demand changes, Adani Power remains on track with its 23.7 GW expansion plan and anticipates robust earnings growth in the upcoming years. Khyalia expressed confidence in the company’s abundant natural resources, particularly coal, driving its growth and development over the long term. He also noted the rising importance of thermal power in meeting India’s renewable energy targets and stabilizing the grid to address peak demand.
