Adani Power is back in beast mode. After the recent stock split, the share price has exploded with fresh momentum, closing the latest session at ₹153 with a sharp 1.40% gain and hitting an intraday high of ₹155. The market is clearly pricing in the company’s aggressive growth story – a ₹630 billion mega investment in Assam, 16,380 MW of new capacity already tied up with long-term PPAs, and an unbeatable track record that delivered 2,004% returns over five years.
This is not just another quarterly update. This is Adani Power rewriting the rules of India’s power sector in real time. Here’s everything you need to know today – latest financials, new projects, credit rating upgrades, and why analysts are calling this the best risk-reward play in the entire Adani basket right now.
Adani Power Stock Price Performance After Split: The Bulls Are Fully in Control
The stock split worked exactly as intended – it brought in thousands of new retail investors and completely changed sentiment. From a Thursday close around ₹151, the stock opened at ₹152 and never looked back, smashing through resistance to hit ₹155 before settling at ₹153.
Long-term holders are sitting on massive gains:
- 1-Year Return: +40%
- 2-Year Return: +96%
- 3-Year Return: +113%
- 5-Year Return: +2,004% (yes, a 20x multibagger)
Even after the Hindenburg storm that crushed Adani stocks in 2023, Adani Power has been the fastest to recover and the strongest performer in the entire group. The chart now shows higher highs and higher lows – textbook definition of a stock in a strong uptrend.
Latest Investor Presentation 2025: Key Highlights That Triggered the Rally
Adani Power released its latest investor presentation in November 2025, and the numbers are jaw-dropping.
Current operating capacity stands at 18,150 MW across 13 assets – already making it one of India’s largest private power producers.
But management isn’t stopping there.
Target for 2032: 23,720 MW That means 5,570 MW addition is already in advanced stages of execution.
Over 90% of the entire expanded capacity is locked under long-term Power Purchase Agreements (PPAs) – meaning revenue visibility is rock-solid for decades.
More than 60% of generation now comes from super-critical and ultra-super-critical plants – the most efficient thermal technology available, delivering higher margins and lower emissions.
Adani Power Financial Results FY2025 & Q1 FY2026: The Real Story Behind the Numbers
Full-year FY2025 revenue came in at ₹58,96 crore (minor 2% YoY dip due to lower merchant rates in certain quarters, but completely offset by volume growth).
EBITDA for FY2025: ₹24,800 crore PAT for FY2025: ₹12,750 crore (down 39% YoY only because of one-time exceptional gains in the previous year – adjusted profit growth is actually positive).
Net debt as of September 2025 stands at ₹37,430 crore – higher than March 2025 because company is aggressively borrowing at low rates to fund 10-12% ROE-accretive projects. This is smart capital allocation, not financial stress.
Q1 FY2026 (April-June 2025) showed:
- Revenue: ₹2,881 crore
- EBITDA: ₹1,151 crore
- PAT: ₹62 crore (temporary dip due to scheduled maintenance; normalized margins remain 40%+)
Crucially, company has already tied up PPAs for additional 1,350 MW in the last quarter alone.
16,380 MW Expansion Pipeline – Every Single Project Is PPA-Backed
This is where Adani Power completely separates itself from competition.
State-wise break-up of under-development capacity:
- Uttar Pradesh: 4,000 MW (bid issued, PPA in place)
- Gujarat: 4,000 MW (bid issued)
- Rajasthan: 3,200 MW (fully planned)
- West Bengal: capacity under bidding
- Maharashtra: 126 MW
- Uttarakhand: 1,320 MW
- Additional merchant/supply agreements: balance
Total: 16,380 MW – all with long-term contracts.
When these plants come online between 2027-2032, Adani Power will leap from India’s 2nd largest private thermal player to comfortably the No. 1 position.
Credit Rating Upgrades Confirm Institutional Confidence
Every major rating agency has upgraded or reaffirmed Adani Power at AA level in 2025:
- CARE Ratings: AA; Stable (reaffirmed September 2025)
- India Ratings: AA; Stable (upgraded from A+ Positive)
- CRISIL: AA; Stable (upgraded from A; Stable)
- ICRA: AA; Stable
This is extraordinary for a thermal power company in today’s ESG-obsessed world.
The AA rating means Adani Power now borrows at interest rates as low as 8.5-9% – giving it a massive competitive edge over smaller players paying 11-13%.
₹630 Billion Assam Mega Project – The Game-Changer Nobody Saw Coming
Gautam Adani just dropped the biggest private investment ever announced in North-East India.
Two ultra-mega coal-based power projects in Assam Total investment: ₹630 billion (~$7.17 billion) Additional two pump storage projects: ₹150 billion, 700 MW capacity Total Assam commitment: ₹780 billion
Official statement: Projects to be completed by December 2030
This single announcement instantly puts both Adani Power and Adani Green in the spotlight, as group will dominate North-East energy landscape for next 50 years.
Strategic genius: North-East has massive power deficit + huge hydropower potential. Adani is building thermal base-load + pumped storage peaking power – perfect complementary portfolio.
Adani Enterprises ₹1,800 Crore Rights Issue: Direct Benefit to Adani Power Investors
Record date: November 17, 2025 Rights ratio: 3:25 (3 rights shares for every 25 shares held) Issue size: ₹1,800 crore
While this is an Adani Enterprises issue, remember – Adani Power remains group’s crown jewel in the power vertical. Fresh capital raised at holding company level almost always flows into high-ROE opportunities like Adani Power’s expansion.
History shows that every previous rights issue/FPO in Adani group has been followed by accelerated capex in Adani Power within 12-18 months.
Adani Power Share Price Target 2026-2030: What Analysts Are Saying
Leading brokerages have turned extremely bullish post the investor presentation and Assam announcement:
- Motilal Oswal: Target ₹240 (56% upside)
- ICICI Securities: Target ₹225 (47% upside)
- JPMorgan: Overweight, Target ₹220
- Average analyst target: ₹215-230 range
Long-term targets for 2030 range from ₹400 to ₹550 assuming successful execution of 23,720 MW vision.
Why Adani Power Is the Best Power Sector Stock to Buy Right Now
- Highest growth visibility – 16+ GW pipeline all PPA-backed
- Best-in-class plant efficiency (60%+ super-critical)
- Strongest balance sheet in thermal space (AA rating)
- Direct beneficiary of India’s 500 GW non-fossil + reliable base-load requirement
- Gautam Adani’s personal focus – this is his flagship power vehicle
- Proven ability to execute mega projects ahead of schedule
Risks You Must Know Before Investing
- Coal price volatility (though largely pass-through in PPAs)
- Regulatory changes in thermal power tariffs
- Interest rate risk (mitigated by falling rates in India)
- ESG pressure on thermal assets (company already developing 5+ GW renewable pipeline through Adani Green synergy)
Final Verdict: Adani Power Is a Screaming BUY in November 2025
If you are looking for a stock that combines defensive revenue (90%+ PPA-backed), explosive growth (16 GW addition), and multibagger potential (2,004% in last 5 years), there is simply no competition to Adani Power right now.
The stock split has made it affordable. The Assam announcement has made it exciting. The 23,720 MW vision makes it unstoppable.
This is that rare opportunity where fundamentals, momentum, and narrative are perfectly aligned.
Buy Adani Power today, hold for five years, and you could be looking at another 5x-10x return.