ADANI POWER LTD. Results Analysis-Q2FY2027

ADANIPOWER : Financial performance and key operating metrics (Consolidated) : Continuing Operating Revenue for Q2FY27 is Rs. 17,014 Crs., 29.82% growth YoY, Total Revenue is Rs. 19,951 Crs., 39.52% growth YoY (aided by one-time prior-period revenue), Continuing EBITDA is Rs. 6,321 Crs., 18.53% growth YoY, However Continuing EBITDA Margin is 37.15% declined by 354 Basis points YoY, PBT Rs. 4,370 Crs., 32.83% growth YoY, PAT Rs. 7,019 Crs., 141.53% growth YoY (Due to Income tax and deffered tax reversals). Higher dispatch volumes [up 11.4% YoY] combined with higher PPA tariffs [Rs. 6.4/unit, up 12.7% YoY] and merchant realisations [Rs. 7.2/unit, up 33.1% YoY] contributed to Continuing Revenue growth. Strong EBITDA performance in line with revenue growth, due to efficient fuel cost recovery under PPAs and higher merchant realisations on Y-o-Y basis. Strong operating profitability and control on leverage leading to high conversion and solid PAT performance. Power Sales Voume 26383 MU having 11.5% growth YoY. On QoQ basis Continuing Op. Revenue is down by 3.05%, But Total Revenue is up by 3.26%, Continuing EBITDA is down by 8.43%, PBT is down by 11.07%, but PAT is up by 72.58% (Due to Income tax and deffered tax reversals). Secured long-term PPAs for 62% of the upcoming 24 GW thermal pipeline. Adani Power was declared successful resolution applicant for GVK Energy Limited under CIRP Total debt (Sep 30, 2026): ₹51,860 crore vs ₹53,556 crore (Mar 31, 2026).