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ADANIPOWER Diversified 20 Jan 2026

Adani Power Limited — Q3 FY26

Adani Power reported Q3 FY26 revenue of INR 12,717 crore, down 5.3% YoY, due to lower power selling rates and weaker merchant prices.

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Revenue ₹12,717 Cr -5.3%
EBITDA ₹4,636 Cr -3.1%
PAT ₹2,488 Cr -15.4%
EBITDA Margin 36.5% +80bps
Duration
Read Time 1 min read

Financial stats pending filing verification

Risk Intelligence

Material risks this quarter

Concise cards keep the risk register scannable while preserving evidence-level context in the underlying quarter data.

Risks

R

Rajasthan PPA regulatory hurdle

Regulator questioned the need for full 3,200 MW PPA; DISCOM has been allowed to re-present its case, causing potential delays.

medium · analyst_question
R

Bangladesh geopolitical risk

Continued supply to Bangladesh amid political turmoil; though payments are regular, any escalation could impact Godda plant operations.

high · analyst_question
R

Weaker power demand and merchant price decline

All India power demand was flat YoY due to extended monsoons and cooler temperatures, leading to lower merchant realizations.

medium · management_commentary