India’s total installed power generation capacity surged by 83.8 percent, climbing from 249 GW in 2014 to 457 GW by late 2024. Renewable energy sources contributed significantly, with 129 GW added since 2014, including 91 GW of solar power.
The 2025 Budget emphasizes energy security and sustainability, aiming for 100 GW of nuclear capacity by 2047, supported by reforms to attract private investment.
Looking ahead, India aims for 500 GW of renewable energy capacity by 2030, with projections of nearly doubling power consumption by 2040 due to urbanization and economic growth.
Here is a comparison between Adani Power and Tata Power to help investors easily differentiate between the two:
Price Movement
The shares of Adani Power Limited moved up by nearly 1 percent on BSE to Rs. 489.75 on Friday. The stock has delivered negative returns of around 12 percent in one year, as well as about 9 percent returns in one month.
Meanwhile, the shares of Tata Power Company Limited surged nearly 1.2 percent on BSE to Rs. 362.3 on Friday. The stock has delivered positive returns of around 5 percent in one year, as well as about 2.3 percent returns in one month.
Financial Metrics
| Metrics | Adani Power | Tata Power Company |
| Market Cap | ||
| ROE | 57.1 | 11.3 |
| ROCE | 32.2 | 11.1 |
| P/E Ratio | 14.5 | 28 |
| Debt to Equity | 0.67 | 1.73 |
Company Overview
Adani Power Limited, the largest private thermal power producer in India, is engaged in the sale of power under long-term Power Purchase Agreements (PPAs), Supplemental Power Purchase Agreements (SPPAs), medium-term PPAs, and short-term PPAs, on a merchant basis and also engaged in trading, investment and other business activities.
The Tata Power Company Limited, India’s largest vertically integrated power company, is primarily engaged in the business of generation, transmission and distribution of electricity.
Also read: Vedanta and other aluminium stocks jumps up to 10% in last 5 days due to hike in metal prices
Operational Capacity as of Q3 FY25
Adani Power currently has an installed thermal power capacity of 17.55 GW, with an additional 13.12 GW in its growth pipeline, aiming for a total capacity of 30.67 GW over the next five years. Besides its thermal power plants, Adani Power also operates a 40 MW solar power plant in Gujarat.
Tata Power, on the other hand, has a total capacity of ~25.6 GW, combining both operational and under-construction assets. Of this, ~16.8 GW is dedicated to Clean & Green Energy (including ~10.1 GW under construction), while around 8.9 GW comes from thermal energy generation (installed capacity).
Additionally, Tata Power has a manufacturing capacity of about 4.9 GW for solar cells and modules, including 0.3 GW of cell capacity currently under commissioning.
Brokerage Target
The global brokerage firm Jefferies has maintained a “buy” rating on Adani Power Limited and assigned a target price of Rs. 660 per share, representing a potential upside of nearly 38 percent from the current trading price of Rs. 478.8.
The brokerage firm Sharekhan has maintained a “buy” rating on Tata Power and assigned a target price of Rs. 485 per share, representing a potential upside of nearly 36 percent from the current trading price of Rs. 357.4.
Financial Performance
In Q3 FY25, Adani Power experienced marginal growth in its revenue from operations, showing a year-on-year rise of around 5.2 percent to Rs. 13,671 crores, while the net profit grew by nearly 11.7 percent YoY to Rs. 3,057.2 crores.
In Q3 FY25, Tata Power experienced marginal growth in its revenue from operations, showing a year-on-year rise of around 5 percent to Rs. 15,391 crores, while the net profit grew by nearly 8.2 percent YoY to Rs. 1,030.7 crores.
Written by Shivani Singh
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