Adani Power Limited (ADANIPOWER) Fair Value & Analysis
Utilities · IN · Market cap ₹4.2T
Fair value as of: Jul 12, 2026
From 16 valuation models · updated 26 days ago
Fair value updated Jul 12, 2026, revised from ₹75.89 to ₹75.57 (−0.4%) since Jun 24, 2026. Share price −4.3% over the past month.
A solid business, but screening 64% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (₹140.85). The favourable scenario is already priced in.
- The model range is unusually wide (₹52.29 to ₹140.85). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 12, 2026.
How to read this chart
60‑month range ₹14.72 – ₹248.91 · fair‑value band ₹52.29 – ₹140.85 · the ₹208.63 price screens above the ₹75.57 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 12, 2026.
Analysis
Adani Power Limited (ADANIPOWER) currently trades at ₹208.63, while our model-based Fair Value estimate is ₹75.57, implying the stock looks roughly 63.8% overvalued today. We read business quality at 54/100 (solid quality), in the Utilities sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Adani Power Limited generated revenue of ₹542B at a net margin of 23.7%. Revenue declined 0.1% year over year. It earns a return on equity of 20.9%. Net debt stands at ₹477B. Fundamentals as of Jul 12, 2026
Our scenario range runs from ₹52.29 (bear case) to ₹140.85 (bull case); at ₹208.63, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 18% below its 52-week high and 98% above its 52-week low, currently above its 200-day average. For context, the median of 10 Utilities peers we cover trades at -45% fair-value upside, at -64%, ADANIPOWER screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 16 models by family
Widest divergence: Growth Earnings (₹155.09) versus Dividend Discount (₹7.49). Highest evidence: Residual Income (76).
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 12, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 41 · Market factors (momentum, volatility) 78
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Adani Power Limited engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India.
Full company description
Adani Power Limited engages in the generation, transmission, and sale of electricity under long term power purchase agreements (PPAs), supplemental PPAs, medium and short term PPAs, and on merchant basis in India. The company generates electricity through thermal energy sources through various power projects with a combined installed and commissioned capacity of 18,150 megawatt (MW). It also operates various coal based power plants comprising 4,620 MW at Mundra, Gujarat; 3,300 MW at Tiroda, Maharashtra; 1,320 MW at Kawai, Rajasthan; 1,200 MW at Udupi, Karnataka; 600 MW at Raigarh and Korba, Chhattisgarh; 1,370 MW at Raipur, Chhattisgarh; 1,200 MW at Mahan, Madhya Pradesh; 1,200 MW at Mutiara, Tamil Nadu; 1,600 MW at Mirzapur, Uttar Pradesh; 500 MW at Dahanu, Maharashtra; and 1600 MW at Godda, Jharkhand. The company also operates solar based power plant comprising 40 MW at Bitta, Gujarat. In addition, it engages in coal import and supply/trading business. Adani Power Limited was founded in 1988 and is headquartered in Ahmedabad, India.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2022 – FY2026 · reported fiscal years
Adani Power Limited reported revenue of ₹538B in FY2026 versus ₹277B in FY2022, a compound +18.0%/yr. Reported net income was ₹128B in FY2026, compounding +27.1%/yr from FY2022.
ADANIPOWER screens 64% overvalued. Compare with Constellation Energy Corporation →
Peer Group
Utilities - Independent Power Producers · 79 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Utilities - Independent Power Producers median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Utilities - Independent Power Producers stocks, each showing price versus our Fair Value estimate (as of Jul 12, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Constellation Energy Corporation CEG | $257.57 | $89.08 | -65% |
| Vistra Corp VST | $158.86 | $47.59 | -70% |
| CGN Power Co 003816 | ¥3.88 | ¥3.13 | -19% |
| NRG Energy, Inc NRG | $137.90 | $56.02 | -59% |
| Gulf Development Public Company GULF | 67.50 THB | 40.44 THB | -40% |
| Adani Energy Solutions Limited ADANIENSOL | ₹1,730 | ₹342.02 | -80% |
| Talen Energy Corporation TLN | $372.37 | $44.67 | -88% |
| Datang International Power Generation Co 601991 | ¥5.80 | ¥4.95 | -15% |
| Power Assets Holdings 0006 | HK$58.45 | HK$31.90 | -45% |
| Huaneng Power International, Inc 600011 | ¥6.75 | ¥10.46 | +55% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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