Analyst Keh Rahe Hain 40% Upside Hai!
Toh bhai, mazaa toh tab hai jab numbers thode down ho aur phir bhi brokerage 'Buy' bole! Antique Stock Broking ne Adani Power ko phir se 'Buy' bola hai aur target set kiya hai ₹187. Matlab current price jo lagbhag ₹134 hai, wahan se 40% tak ka jump expected hai. Haalanki, is saal ab tak stock thoda neeche ( 6.3% ) gir chuka hai, lekin analyst ko long-term mein company ki earning visibility solid lag rahi hai. Current valuation (P/E ratio 21.6x se 23.5x TTM) bhi unke hisaab se attractive hai.
Q3 Mein Profit Kyun Gira?
Ab dekhte hain ki profit 19% kyun gira. Adani Power ne Q3 FY26 mein ₹2,480 crore ka net profit report kiya, jo pichhle saal isi quarter mein ₹3,057.21 crore tha. Company ne bataya ki yeh decline mostly pichhle periods ke income adjustments ki wajah se hai. Revenue bhi 9% kam hokar ₹12,451 crore raha, iska reason hai desh mein energy demand ka flat rehna aur merchant power prices ka neeche aana. EBITDA bhi 15.6% gir kar ₹4,240 crore raha, par achhi baat yeh hai ki fuel costs lagbhag 10% kam ho gaye.
Future Ke Liye Readying Up!
Par, company future ke liye bade plans bana rahi hai. Unka expansion pipeline ka lagbhag aadha hissa toh pehle se hi long-term Power Purchase Agreements (PPAs) se secured hai. Sirf yahi nahi, company ne recently ₹7,500 crore NCDs issue karke raise kiye hain, jo capacity expansion aur working capital ke liye use honge. Ab unki 90% operating capacity long/medium-term contracts ke under hai, jo unhein market ki sudden fluctuations se bachayegi.
Sector Mein Kahan Stand Karti Hai Company?
Market cap ke hisaab se, Adani Power lagbhag ₹2.58 trillion ki hai. Iska P/E ratio competitors jaise NTPC ( 14.22x ) aur Power Grid ( 15.89x ) se zyada hai, lekin Tata Power ( 28.09x ) se kam. Sabse mast baat yeh hai ki Adani Power ka ROE 27.38% (historical) / 20.58% (recent) hai, jo competitors se kaafi behtar hai. India ka power sector bhi badal raha hai, renewables ka share badh raha hai, par thermal power ki demand bhi kam nahi hai. Is scenario mein, Adani Power apne PPA security ke saath achha perform kar sakti hai.
Recent Updates Aur Clarity
Recent corporate updates mein, company ne Assam mein 3,200 MW ka ek naya thermal power plant PPA bhi secure kiya hai. Aur haan, ek US regulatory news ke baare mein bhi company ne clarify kiya hai ki woh khud kisi proceedings ka hissa nahi hai aur unke khilaaf koi allegations nahi hain. Is clarification se investors ko thoda rahat mili hai.