Abhinav · ICICI Securities
directProgress of under-construction plants and CAPEX incurred/guidance.
We have already incurred around INR 8,000 crore in financial year 2025 itself, and we have a plan of INR 13,307 crore for next year.
ADANIPOWER / Q4-FY25 / claim-ledger
Audit the questions that mattered.
Adani Power · Analyst questions, management answers, and the quality of the response where the ledger is available.
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Questions audited
12
Answered directly
96%
Numeric claims
3
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contradicted
Question ledger
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Abhinav · ICICI Securities
directUpdate on Bangladesh receivables and Godda plant financials.
total billing we have done so far is around INR 2,000 million. We have already received out of INR 2,000 million, INR 12,700 million... outstanding is around $900 million. For Godda and Jharkhand, on annual basis, we have EBITDA of INR 4,820 crore, and for this quarter, this is INR 831 crore.
Yash Agarwal · JM Financial
directMerchant realization and volumes in Q4 and YoY comparison.
The merchant realization in Q4 of FY 2025 is INR 5.03 in Q4. If you will ask, last year, the same quarter, it was INR 6.17 per unit.
Yash Agarwal · JM Financial
partialOutlook for merchant rates this financial year.
the outlook of demand is quite encouraging. The rates from March onwards have also gone quite high. We assume that throughout the year, this year, we should be hoping to have good rates and good demand.
Yash Agarwal · JM Financial
directCAPEX for FY 2026.
It's INR 13,000 crore.
Yash Agarwal · JM Financial
directCommissioning status of NCLT-acquired plants.
except in Lanco Amarkantak, two units are under construction, which are likely to be getting commissioned either end of this year or first half of the next year. Other than that, VIPL is a commissioned plant.
Nikhil Nigania · AllianceBernstein
directTimeline for Mahan and subsequent capacity additions.
Mahan will come on stream. We'll get commissioned in March 2027 or April 2027, something around that period. Thereafter, we have lined up the capacity, which will come up almost every six months, let us say one unit.
Nikhil Nigania · AllianceBernstein
directPPA strategy for new capacity and comfort on offtake.
24 GW equivalent to coal has been allocated to various states for carrying out the bidding. We expect that in the near future, that type of capacity will be bidded. Already, let us say, 4,100 MW Madhya Pradesh bid is on, Bihar 2,400 MW bid is on, Rajasthan 3,200 MW bid is on, and Uttarakhand 1,320 MW bid is on.
Nikhil Nigania · AllianceBernstein
directCurrent supply status to Bangladesh and payment situation.
We are supplying full power to Bangladesh, and we have never stated that there was an issue to the level that we have to stop the supply. Unfortunately, in the last quarter, the outstanding has gone down by around INR 500 crore.
Nikhil Nigania · AllianceBernstein
directStrategy to handle low afternoon power prices from solar.
We are not keeping the entire capacity for the day-ahead market. Most of the time, it is tying up through the bilateral contracts four months ahead, two months ahead, three months ahead, sometimes even six months or a year.
Mahesh Patil · ICICI Securities
directDefinition of merchant sales and inclusion of medium-term contracts.
If the power is sold in medium term, which is more than one year, in that case, it doesn't remain the merchant. When we are talking about merchant, that means it is not sold for more than one year.
Mahesh Patil · ICICI Securities
directStatus of fuel supply agreement for new capacity and state tenders.
already tenders from Madhya Pradesh, 4,100 MW; Bihar, 2,400 MW; Rajasthan, 3,200 MW; and Uttarakhand, 1,320 MW. All these tenders are with coal supply. There is no concern about availability of coal.