Synopsis:
Adani Power secured an additional 800 MW order from MP Power, raising total capacity to 1600 MW for a new thermal project in Madhya Pradesh, with a ₹21,000 crore investment and a 60-month timeline.
The shares of the Adani group company, specializing in power generation primarily through thermal and solar power plants, jumped by upto 3 percent upon receiving a Letter of Award (LoA) from MP Power Management Company Limited (MPPMCL).
With a market capitalization of Rs. 2,49,987.50 Crores on Thursday, the shares of Adani Power Ltd rose by 3.1 percent after making a high of Rs. 653.45 compared to its previous closing price of Rs. 633.45.
What Happened
Adani Power Ltd, engaged in power generation primarily through thermal and solar power plants, has announced that it has received an additional Letter of Award (LoA) from MP Power Management Company Limited (MPPMCL).
The order is for the supply of 800 MW of power under the “Greenshoe Option”. This power will be supplied from a new 800 MW ultra-supercritical thermal power project to be established in Anuppur District, Madhya Pradesh, under the Design, Build, Finance, Own, and Operate (DBFOO) model.
The project will use coal sourced through a linkage arranged by the utility under the SHAKTI Policy. With this additional award, the total capacity awarded to Adani Power by MPPMCL now stands at 1600 MW, following an earlier LoA for 800 MW received on 29th August 2025. The company plans to invest around Rs. 21,000 crore in this project, which is expected to be executed within 60 months from the appointed date.
Financials & Others
The company’s revenue declined by 5.66 percent from Rs. 14,956 crore to Rs. 14,109 crore in Q1FY25-26. Meanwhile, the Net profit declined from Rs. 3,913 crore to Rs. 3,305 crore during the same period.
The company has shown strong financial performance with a 65.7% profit CAGR over the last 5 years and a solid 3-year average ROE of 40.4%. Currently, it has a ROE of 26.1%, ROCE of 22.5%, and maintains a healthy debt-to-equity ratio of 0.70.
Adani Power Limited is engaged in the business of selling power under long-term/medium-term/short-term Power Purchase Agreements (PPAs), Supplemental Power Purchase Agreements (SPPAs), on a merchant basis, and is also engaged in trading, investment, and other business activities.
It holds India’s largest private-sector thermal IPP (Independent Power Producer) portfolio, with a target capacity of 41,870 MW. The current operating capacity is 18,150 MW, and an additional 23,720 MW is locked in, including projects with long-term PPAs and greenfield developments.
The Key locations in Adani Power’s thermal power portfolio include major existing plants such as Mundra (4,620 MW), Tiroda (3,300 MW), and Kawai (1,320 MW). In addition, upcoming and expanding sites like Anuppur (2,400 MW), Raipur, Korba, Godda, and Mirzapur are set to significantly boost the company’s future capacity.
With projects spread across multiple Indian states, Adani Power ensures a wide geographical footprint and a robust energy distribution network. This extensive presence and planned capacity expansion position the company as a dominant and fast-growing player in India’s energy sector.
Written by Sridhar J
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